Document:

Exhibit
4.35

 

EXECUTION COPY

	
   

  

 

January 19, 2010

 

AMENDED AND RESTATED PLEDGE
AGREEMENT

 

between

 

THE PARTIES LISTED ON THE
SIGNATURE PAGES HERETO,

as Pledgors

 

and

 

DEUTSCHE BANK AG, LONDON BRANCH

as Security Trustee and Pledgee

	
   

  

 

 

TABLE OF
CONTENTS

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  1.

  	
  CONSTRUCTION; DEFINITIONS

  	
  2

  
	
  2.

  	
  SECURITY FOR OBLIGATIONS

  	
  7

  
	
  3.

  	
  PLEDGE OF SECURITIES, ETC.

  	
  8

  
	
   

  	
  3.1

  	
  PLEDGE

  	
  8

  
	
   

  	
  3.2

  	
  PROCEDURES

  	
  11

  
	
   

  	
  3.3

  	
  SUBSEQUENTLY ACQUIRED COLLATERAL

  	
  13

  
	
   

  	
  3.4

  	
  TRANSFER TAXES

  	
  14

  
	
   

  	
  3.5

  	
  CERTAIN REPRESENTATIONS AND WARRANTIES REGARDING THE
  COLLATERAL

  	
  14

  
	
  4.

  	
  APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC.

  	
  14

  
	
  5.

  	
  VOTING, ETC., WHILE NO EVENT OF DEFAULT

  	
  14

  
	
  6.

  	
  DIVIDENDS AND OTHER DISTRIBUTIONS

  	
  15

  
	
  7.

  	
  REMEDIES; ENFORCEMENT

  	
  15

  
	
  8.

  	
  REMEDIES, CUMULATIVE, ETC.

  	
  16

  
	
  9.

  	
  APPLICATION OF PROCEEDS

  	
  17

  
	
  10.

  	
  PURCHASERS OF COLLATERAL

  	
  17

  
	
  11.

  	
  INDEMNITY

  	
  17

  
	
  12.

  	
  PLEDGEE NOT A LIMITED LIABILITY COMPANY MEMBER

  	
  18

  
	
  13.

  	
  FURTHER ASSURANCES; POWER-OF-ATTORNEY

  	
  19

  
	
  14.

  	
  THE PLEDGEE AS SECURITY TRUSTEE

  	
  19

  
	
  15.

  	
  TRANSFER BY THE PLEDGORS

  	
  20

  
	
  16.

  	
  REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
  PLEDGORS

  	
  20

  
	
  17.

  	
  LEGAL NAMES; TYPE OF ORGANIZATION (AND WHETHER A
  REGISTERED ORGANIZATION AND/OR A TRANSMITTING UTILITY); JURISDICTION OF
  ORGANIZATION; LOCATION; ORGANIZATIONAL IDENTIFICATION NUMBER; CHANGES
  THERETO; ETC.

  	
  22

  
	
  18.

  	
  PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC.

  	
  23

  
	
  19.

  	
  SALE OF COLLATERAL WITHOUT REGISTRATION

  	
  23

  
	
  20.

  	
  TERMINATION; RELEASE

  	
  24

  
	
  21.

  	
  NOTICES, ETC.

  	
  25

  
	
  22.

  	
  WAIVER; AMENDMENT

  	
  25

  
	
  23.

  	
  SUCCESSORS AND ASSIGNS

  	
  26

  
	
  24.

  	
  HEADINGS DESCRIPTIVE

  	
  26

  

 

i

 

	
  25.

  	
  GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE;
  WAIVER OF JURY TRIAL

  	
  26

  
	
  26.

  	
  PLEDGOR’S DUTIES

  	
  27

  
	
  27.

  	
  COUNTERPARTS

  	
  27

  
	
  28.

  	
  SEVERABILITY

  	
  28

  
	
  29.

  	
  RECOURSE

  	
  28

  
	
  30.

  	
  ADDITIONAL PLEDGORS

  	
  28

  
	
  31.

  	
  LIMITED OBLIGATIONS

  	
  28

  
	
  32.

  	
  RELEASE OF PLEDGORS

  	
  28

  
	
  33.

  	
  AMENDMENT AND RESTATEMENT

  	
  29

  

 

	
  ANNEX A

  	
  -

  	
  SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION, JURISDICTION OF
  ORGANIZATION, LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS

  
	
   

  	
   

  	
   

  
	
  ANNEX B

  	
  -

  	
  SCHEDULE OF
  STOCK

  
	
   

  	
   

  	
   

  
	
  ANNEX C

  	
  -

  	
  SCHEDULE OF
  NOTES

  
	
   

  	
   

  	
   

  
	
  ANNEX D

  	
  -

  	
  SCHEDULE OF
  LIMITED LIABILITY COMPANY INTERESTS

  
	
   

  	
   

  	
   

  
	
  ANNEX E

  	
  -

  	
  SCHEDULE OF
  PARTNERSHIP INTERESTS

  
	
   

  	
   

  	
   

  
	
  ANNEX F

  	
  -

  	
  SCHEDULE OF
  CHIEF EXECUTIVE OFFICES

  
	
   

  	
   

  	
   

  
	
  ANNEX G

  	
  -

  	
  FORM OF
  AGREEMENT REGARDING UNCERTIFICATED SECURITIES, LIMITED LIABILITY COMPANY INTERESTS
  AND PARTNERSHIP INTERESTS

  

 

ii

 

AMENDED AND
RESTATED PLEDGE AGREEMENT

 

AMENDED AND RESTATED PLEDGE AGREEMENT (as amended,
modified, restated and/or supplemented from time to time, this “Agreement”), dated as of March 3, 2006
and amended and restated as of January 19, 2010, among the parties listed
on the signature pages hereto (each a “Pledgor”
and collectively the “Pledgors”) and
Deutsche Bank AG, London Branch, as Security Trustee (together with any successor
Security Trustee, (the “Pledgee”),
for the benefit of the Beneficiaries (as defined below)).  Except as otherwise defined herein, all
capitalized terms used herein and defined in the Senior Facilities Agreement or
the Group Intercreditor Deed shall be used herein as therein defined.

 

W I T N E S S E T H :

 

WHEREAS,  pursuant to the Senior Facilities Agreement, dated March 3,
2006 as amended and restated on May 22, 2006, July 10, 2006, August 10,
2006, April 4, 2007, May 15, 2008, November 10, 2008, October 30,
2009 and January 8, 2010 (as further amended, restated, supplemented
and/or otherwise modified from time to time, the “Senior
Facilities Agreement”) among Virgin Media Inc., Virgin Media Finance
PLC, Virgin Media Investment Holdings Limited (formerly known as NTL Investment
Holdings Limited) (the “Company”),
Telewest Communications Network Limited, VMIH Sub Limited (formerly known as
NTLIH Sub Limited) as UK Borrowers (the “UK Borrowers”),
Virgin Media Dover LLC (formerly known as NTL Dover LLC) as US Borrower (the “US Borrower” and together with the UK Borrowers, the “Borrowers”), Deutsche Bank AG, London Branch, J.P. Morgan
plc, The Royal Bank of Scotland plc and Goldman Sachs International as
Bookrunners and as Mandated Lead Arrangers, Deutsche Bank AG, London Branch as
Facility Agent (the “Facility Agent”)
and as Security Trustee, Deutsche Bank AG, New York Branch as US Paying Agent,
GE Corporate Banking Europe SAS as Administrative Agent, Deutsche Bank AG,
London Branch as Original L/C Bank and the persons named therein as Lenders
(the “Lenders”), the Lenders have made
available to the Borrowers certain credit facilities pursuant to the terms and
subject to the conditions provided therein.

 

WHEREAS, by an intercreditor deed
dated March 3, 2006 as amended and restated on June 13, 2006, July 10,
2006, July 31, 2006, May 15, 2008, October 30, 2009 and January 8,
2010 (as further amended, restated, supplemented and/or otherwise modified from
time to time, the “Group Intercreditor Deed”)
among the Original Senior Borrowers, the Original Facility Agent, the Original
Security Trustee, the Senior Lenders, the Original Senior Guarantors, the Hedge
Counterparties (as each of those terms is defined therein), the Intergroup
Debtor and Intergroup Creditors (as each of those terms is defined therein) and
listed therein, certain banks, financial institutions and other entities have
agreed to regulate their relationship as creditors on the terms set out
therein.

 

WHEREAS, pursuant to the indenture
dated on or about the date hereof (the “Senior Secured Notes
Indenture”) governing the $1,000,000,000 6.50% Senior Secured Notes
due 2018 and the £875,000,000 7.00% Senior Secured Notes due 2018 (the “Senior Secured Notes” and, together with the Senior Secured
Notes Indenture and the guarantees set out therein, the “Senior
Secured Notes Documents”), among Virgin Media Inc., the Company,
Virgin Media Finance PLC, Virgin Media Secured Finance PLC, the subsidiary
guarantors named therein, The Bank of New York Mellon, as trustee, registrar
and paying agent and The Bank of New York Mellon (Luxembourg), S.A., as
Luxembourg paying agent, as amended, restated, supplemented or otherwise
modified from to time, Virgin Media Secured Finance PLC has agreed to issue the
Senior Secured Notes.

 

 

WHEREAS, in connection with the
Senior Facilities Agreement and the Group Intercreditor Deed, the Pledgors and
Security Trustee entered into a pledge agreement dated March 3 2006 and
amended on December 23, 2009 (the “Original Pledge Agreement”),
pursuant to which the Pledgors granted in favor of the Security Trustee, for
the benefit of the Beneficiaries, a security interest in and lien on their
respective interests in the Collateral described therein as security and
collateral for the due and punctual payment and performance by the Borrowers of
their respective obligations described therein.

 

WHEREAS, Pledgors
and Security Trustee desire to amend and restate the Original Pledge Agreement
to, among other things, provide for the security for the due and
punctual payment and performance of the
Secured Obligations on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the
foregoing and other benefits accruing to each Pledgor, the receipt and
sufficiency of which are hereby acknowledged, each Pledgor hereby makes the
following representations and warranties to the Pledgee for the benefit of the
Beneficiaries and hereby covenants and agrees with the Pledgee for the benefit
of the Beneficiaries as follows:

 

1.                                      CONSTRUCTION;
DEFINITIONS

 

(a)                                  This Pledge Agreement should be read and construed subject to the
terms of the Group Intercreditor Deed. 
In the event of any inconsistency between the terms of this Pledge
Agreement and the Group Intercreditor Deed, the terms of the Group Intercreditor
Deed shall prevail.  Unless the
context otherwise requires or unless otherwise provided or defined herein, all
capitalized terms used herein and defined in the Group Intercreditor Deed and
(unless otherwise defined in the Group Intercreditor Deed) the Relevant
Facilities Agreement shall be used herein as therein defined.

 

(b)                                 Reference to
singular terms shall include the plural and vice versa.

 

(c)                                  References to (or to any specified provision of) this
Agreement or any other agreement or document shall be construed as references
to this Agreement, that provision, that agreement or that document as in force
for the time being and as from time to time amended, supplemented, varied,
extended, restated, and/or replaced in accordance with the terms thereof, or,
as the case may be, with the agreement of the relevant parties and (where such
consent is, by the terms of any Security Document or the relevant document,
required to be obtained as a condition to such amendment being permitted) the
prior written consent of an Instructing Party.

 

(d)                                 The following
capitalized terms used herein shall have the definitions specified below:

 

“Adverse Claim” shall have
the meaning given such term in Section 8-102(a)(1) of the UCC.

 

“Agent” means the Facility
Agent, the US Paying Agent, the Administrative Agent and the Relevant Agent.

 

2

 

“Agreement” means this
Pledge Agreement.

 

“Beneficiaries” means the
First Beneficiary and the Second Beneficiaries.

 

“Certificated Security”
shall have the meaning given such term in Section 8-102(a)(4) of the
UCC.

 

“Clearing Corporation”
shall have the meaning given such term in Section 8-102(a)(5) of the
UCC.

 

“Collateral” shall have
the meaning set forth in Section 3.1 hereof.

 

“Collateral Accounts”
shall mean any and all accounts established and maintained by the Pledgee in
the name of any Pledgor to which Collateral may be credited.

 

“Commitments” means, in respect of a Senior Lender, its
Commitment as defined in the Senior Facilities Agreement, and in respect of any
other Senior Finance Party, the aggregate of the principal amount advanced by
it that has not been repaid, in each case under the Senior Finance Documents,
and (without duplication) its uncancelled commitment to extend further credit
to the Obligors under the Senior Finance Documents.

 

“Designated Secured Obligations” means
Financial Indebtedness in the form of notes or other such similar instruments
of any member of the Group that is designated as “Designated Secured Obligations”
by written notice from the Company and its successors in title from time to
time to the Security Trustee, which notice will certify that the Financial
Indebtedness is an instrument for which Rule 3-16 of Regulation S-X under
the Securities Act (“Rule 3-16”)
is applicable or will become applicable upon registration of such instrument or
an instrument exchangeable for such instrument pursuant to a contractual
requirement.

 

“Enforcement Date” means the date on which, following the occurrence of an Event
of Default that is continuing, either the Relevant Agent or the Security
Trustee notifies the relevant Pledgor of the occurrence of that Event of
Default, or takes, under any one or more of the Senior Finance Documents, any
of the steps it is entitled to take by reason of the occurrence of such Event
of Default.

 

“Equity Interests” of any
person shall mean any and all shares, interests, rights to purchase, warrants,
options, participation or other equivalents of or interest in (however
designated) equity of such person, including any common stock, preferred stock,
any limited or general partnership interest and any limited liability company
membership interest.

 

“Event of Default” shall mean each of:

 

(i)                                     a Senior Default; and

 

(ii)                                  an event of default or termination event (however described) under any
Hedging Agreement.

 

“Excluded Charged Assets” in relation to
any Designated Secured Obligations means any shares, membership interests,
partnership interests, equity participations or 

 

3

 

other equivalent (however designated) ownership interests (the “Ownership Interests”) in, or other securities of, a
Subsidiary of Virgin Media Inc. (excluding the Ownership Interests in or other
securities issued by Virgin Media Investments Limited or any successor entity
upon any merger, reorganization or other restructuring effecting it) that are
owned by any Pledgor to the extent that pledging such Ownership Interests or
other securities under this Agreement to secure such Designated Secured
Obligations would result in Rule 3-16 requiring separate financial
statements of such Subsidiary to be filed with the SEC, but (i) only to
the extent necessary to not be subject to such requirement, (ii) only for
so long as such requirement is in existence and (iii) only if no member of
the Group files or is otherwise required to file separate financial statements
of such Subsidiary with the SEC under a separate rule or regulation;
provided that no Ownership Interests or securities will constitute Excluded
Charged Assets if any member of the Group takes any action in the form of a
reorganization, merger or other restructuring, a principal purpose of which is
to provide for the limitation of the pledge of any Ownership Interests or other
securities pursuant to the proviso in Section 3.1.

 

“Financial Asset” shall have the meaning
given such term in Section 8-102(a)(9) of the UCC.

 

“Group  Intercreditor
Deed” shall have the meaning set forth in the recitals.

 

“Indemnitees” shall have
the meaning set forth in Section 11 hereof.

 

“Instrument” shall have the meaning
given such term in Section 9-102(a)(47) of the UCC.

 

“Investment Property” shall have the
meaning given such term in Section 9-102(a)(49) of the UCC.

 

“Limited Liability Company Assets” shall
mean all assets, whether tangible or intangible and whether real, personal or
mixed (including, without limitation, all limited liability company capital and
interest in other limited liability companies), at any time owned by any
Pledgor and represented by any Limited Liability Company Interest.

 

“Limited Liability Company Interests”
shall mean the entire limited liability company membership interest at any time
owned by any Pledgor in any limited liability company organized under the laws
of the United States or any State or territory thereof or the District of
Columbia

 

“Location” of any Pledgor
has the meaning given such term in Section 9-307 of the UCC.

 

“Notes” shall mean (x) all
intercompany notes at any time issued to and held by any Pledgor and (y) all
other promissory notes from time to time issued to or held by any Pledgor.

 

“Obligations” shall have the meaning set
forth in Section 2 hereof.

 

“Original Pledge Agreement” shall have
the meaning set forth in the recitals hereto.

 

4

 

“Ownership Interests” shall have the
meaning set forth in the definition of “Excluded Charged Assets”.

 

“Partnership Assets” shall mean all
assets, whether tangible or intangible and whether real, personal or mixed
(including, without limitation, all partnership capital and interest in other
partnerships), at any time owned by any Pledgor and represented by any
Partnership Interest.

 

“Partnership Interest” shall mean the
entire general partnership interest or limited partnership interest at any time
owned by any Pledgor in any general partnership or limited partnership
organized under the laws of the United States or any State or territory thereof
or the District of Columbia.

 

“Pledged Notes” shall mean
all Notes at any time pledged or required to be pledged hereunder.

 

“Pledgee” shall have the
meaning set forth in the first paragraph hereof.

 

“Pledgor” shall have the
meaning set forth in the first paragraph hereof.

 

“Proceeds” shall have the
meaning given such term in Section 9-102(a)(64) of the UCC.

 

“Registered Organization”
shall have the meaning given such term in Section 9-102(a)(70) of the UCC.

 

“Relevant
Facilities Agreement” means the Senior Facilities Agreement, or,
upon its repayment in full and cancellation of all undrawn commitments
thereunder, the Designated Refinancing Facilities Agreement, provided that if
upon the repayment in full and cancellation of all undrawn commitments under
the Senior Facilities Agreement there is no Designated Refinancing Facilities
Agreement, until such time that a Refinancing Facilities Agreement has been
designated as a Designated Refinancing Facilities Agreement, the “Relevant
Facilities Agreement” shall be the Senior Facilities Agreement immediately
prior to such termination, and provided further that upon the repayment in full
and cancellation of all undrawn commitments under the Designated Refinancing
Facilities Agreement, until such time that a Refinancing Facilities Agreement
has been designated as a Designated Refinancing Facilities Agreement, the “Relevant
Facilities Agreement” shall be the Designated Refinancing Facilities Agreement
immediately prior to such termination.

 

“Rule 3-16” has the
meaning given to such term in the definition of “Designated Secured Obligations”.

 

“SEC” means the United States Securities
and Exchange Commission.

 

“Secured Obligations” means the Security
Trustee Liabilities, the Senior Liabilities and the Hedging Liabilities, provided
that any liabilities that have been designated as “New Senior Liabilities”
under the Group Intercreditor Deed or are incurred after December 31, 2009
under any Refinancing Facilities Agreement entered into after such date,

 

5

 

(a)           in breach of
the provisions of the Senior Facilities Agreement, or upon its repayment in
full and cancellation of all undrawn commitments thereunder (unless there is no
Designated Refinancing Facilities Agreement), the Designated Refinancing
Facilities Agreement, or any Refinancing Facilities Agreement on the date of
such designation (excluding any applicable cure period), or

 

(b)           that the
Security Trustee, acting reasonably, has not agreed to act as security trustee
for,

 

shall not, in any such case constitute “Secured Obligations” for the
purpose of this Agreement.

 

“Securities Account” shall
have the meaning given such term in Section 8-501(a) of the UCC.

 

“Securities Act” shall
mean the Securities Act of 1933, as amended, as in effect from time to time.

 

“Securities Intermediary”
shall have the meaning given such term in Section 8-102(14) of the UCC.

 

“Security” and “Securities” shall have the meaning given
such term in Section 8-102(a)(15) of the UCC and shall in any event also
include all Stock and all Notes.

 

“Security Agreement” shall mean the
Security Agreement, dated as of the date hereof, among the Debtors from time to
time party thereto and Deutsche Bank AG, London Branch, as Security Trustee.

 

“Security Entitlement” shall have the meaning
given such term in Section 8-102(a)(17) of the UCC.

 

“Security
Trust Agreement” means the security trust agreement dated
March 3, 2006 and amended and restated on or about the date hereof between
Security Trustee, Facility Agent, the Company, and the companies named therein
as Original Obligors.

 

“Senior Facilities Agreement”
shall have the meaning given such term in the recitals hereto.

 

“Senior Secured Notes” shall have the
meaning given such term in the recitals hereto.

 

“Senior Secured Notes Documents” shall
have the meaning given such term in the recitals hereto.

 

“Senior Secured Notes Indenture” shall
have the meaning given such term in the recitals hereto.

 

“Stock” shall mean all of the issued and
outstanding shares of capital stock of any corporation incorporated under the
laws of the United States or any State or territory thereof or the District of
Columbia at any time owned by any Pledgor.

 

“Termination Date” shall
have the meaning set forth in Section 20 hereof.

 

6

 

“Transmitting Utility” has
the meaning given such term in Section 9-102(a)(80) of the UCC.

 

“UCC” shall mean the
Uniform Commercial Code as in effect in the State of New York from time to
time; provided that all references herein to specific Sections or
subsections of the UCC are references to such Sections or subsections, as the
case may be, of the Uniform Commercial Code as in effect in the State of New
York on the date hereof; provided further that if by reason of mandatory
provisions of law, the perfection or the effect of perfection or non-perfection
of the Security Interest in any Collateral or the availability of any remedy
hereunder is governed by the Uniform Commercial Code as in effect on or after
the date hereof in any other jurisdiction, “UCC” means the Uniform Commercial
Code as in effect in such other jurisdiction for purposes of the provisions
hereof relating to such perfection or effect of perfection or non-perfection or
availability of such remedy.

 

“Uncertificated Security”
shall have the meaning given such term in Section 8-102(a)(18) of the UCC.

 

2.             SECURITY
FOR OBLIGATIONS

 

This Agreement is made by each Pledgor for the benefit of the Pledgee
acting on behalf of the Beneficiaries to secure:

 

(a)           the full and prompt payment
when due (whether at stated maturity, by acceleration or otherwise) of all
Secured Obligations;

 

(b)           any and all sums advanced by
the Pledgee in order to preserve the Collateral (as hereinafter defined) or
preserve its security interest in the Collateral;

 

(c)           in the event of any
proceeding for the collection or enforcement of any indebtedness, obligations
or liabilities of such Pledgor referred to in clauses (a) and (b) above,
after an Event of Default shall have occurred and be continuing, the reasonable
expenses of retaking, holding, preparing for sale or lease, selling or
otherwise disposing or realizing on the Collateral, or of any exercise by the
Pledgee of its rights hereunder, together with reasonable attorneys’ fees and
court costs;

 

(d)           all amounts paid by any
Indemnitee as to which such Indemnitee has the right to reimbursement under Section 11
of this Agreement; and

 

(e)           all amounts owing to any
Agent or any of its affiliates pursuant to any of the Senior Finance Documents
in its respective capacity as such;

 

all such obligations, liabilities, indebtedness, sums and expenses set forth
in clauses (a) through (e) of this Section 2 being herein
collectively called the “Obligations”,
it being acknowledged and agreed that the “Obligations” shall include (without
limitation) extensions of credit of the types described above, whether outstanding
on the date of this Agreement or extended from time to time after the date of
this Agreement, and (without prejudice to the extension of the Secured
Obligations to any other Indebtedness from time to time included within the
definition thereof) all 

 

7

 

Liabilities arising under or in connection with the Senior Facilities
Agreement and the Senior Secured Notes Documents.

 

3.             PLEDGE
OF SECURITIES, ETC.

 

3.1           Pledge

 

To secure the Obligations now or hereafter owed by such Pledgor, each
Pledgor does hereby grant, pledge and assign to the Pledgee for the benefit of
the Beneficiaries, and does hereby create a continuing security interest
(subject to those Encumbrances permitted to exist with respect to the Collateral
pursuant to the terms of all of the Senior Finance Documents then in effect) in
favor of the Pledgee for the benefit of the Beneficiaries in, all of its right,
title and interest in and to the following, whether now existing or hereafter
from time to time acquired, (the “Collateral”):

 

(a)           each of the Collateral
Accounts (to the extent a security interest therein is not created pursuant to
the Security Agreement), including any and all assets of whatever type or kind
deposited by such Pledgor in any such Collateral Account, whether now owned or
hereafter acquired, existing or arising, including, without limitation, all
Financial Assets, Investment Property, monies, checks, drafts, Instruments,
Securities or interests therein of any type or nature deposited or required by
any Senior Finance Document to be deposited in such Collateral Account, and all
investments and all certificates and other Instruments (including depository
receipts, if any) from time to time representing or evidencing the same, and
all dividends, interest, distributions, cash and other property from time to
time received, receivable or otherwise distributed in respect of or in exchange
for any or all of the foregoing;

 

(b)           all Securities owned or held
by such Pledgor from time to time and all options and warrants owned by such
Pledgor from time to time to purchase Securities;

 

(c)           all Limited Liability
Company Interests owned by such Pledgor from time to time and all of its right,
title and interest in each limited liability company to which each such Limited
Liability Company Interest relates, whether now existing or hereafter acquired,
including, without limitation, to the fullest extent permitted under the terms
and provisions of the documents and agreements governing such Limited Liability
Company Interests and applicable law:

 

(A)          all its capital therein and its interest in
all profits, income, surpluses, losses, Limited Liability Company Assets and
other distributions to which such Pledgor shall at any time be entitled in
respect of such Limited Liability Company Interests;

 

(B)           all other payments due or to become due to
such Pledgor in respect of such Limited Liability Company Interests, whether
under any limited liability company agreement or otherwise, whether as
contractual obligations, damages, insurance proceeds or otherwise;

 

8

 

(C)           all of its claims, rights, powers, privileges,
authority, options, security interests, liens and remedies, if any, under any
limited liability company agreement or operating agreement, or at law or
otherwise in respect of such Limited Liability Company Interests;

 

(D)          all present and future claims, if any, of such
Pledgor against any such limited liability company for monies loaned or
advanced, for services rendered or otherwise;

 

(E)           all of such Pledgor’s rights under any limited
liability company agreement or operating agreement or at law to exercise and
enforce every right, power, remedy, authority, option and privilege of such
Pledgor relating to such Limited Liability Company Interests, including any
power to terminate, cancel or modify any such limited liability company
agreement or operating agreement, to execute any instruments and to take any
and all other action on behalf of and in the name of any such Pledgor in
respect of such Limited Liability Company Interests and any such limited
liability company, to make determinations, to exercise any election (including,
but not limited to, election of remedies) or option or to give or receive any notice,
consent, amendment, waiver or approval, together with full power and authority
to demand, receive, enforce, collect or receipt for any of the foregoing or for
any Limited Liability Company Asset, to enforce or execute any checks, or other
instruments or orders, to file any claims and to take any action in connection
with any of the foregoing; and

 

(F)           all other property hereafter delivered in
substitution for or in addition to any of the foregoing, all certificates and
instruments representing or evidencing such other property and all cash,
securities, interest, dividends, rights and other property at any time and from
time to time received, receivable or otherwise distributed in respect of or in
exchange for any or all thereof;

 

(d)           all Partnership Interests
owned by such Pledgor from time to time and all of its right, title and
interest in each partnership to which each such Partnership Interest relates,
whether now existing or hereafter acquired, including, without limitation, to
the fullest extent permitted under the terms and provisions of the documents
and agreements governing such Partnership Interests and applicable law:

 

(A)          all its capital therein and its interest in
all profits, income, surpluses, losses, Partnership Assets and other distributions
to which such Pledgor shall at any time be entitled in respect of such
Partnership Interests;

 

(B)           all other payments due or to become due to
such Pledgor in respect of Partnership Interests, whether under any partnership

 

9

 

agreement or otherwise, whether as contractual obligations, damages,
insurance proceeds or otherwise;

 

(C)           all of its claims, rights, powers, privileges,
authority, options, security interests, liens and remedies, if any, under any partnership
agreement or operating agreement, or at law or otherwise in respect of such
Partnership Interests;

 

(D)          all present and future claims, if any, of such
Pledgor against any such partnership for monies loaned or advanced, for
services rendered or otherwise;

 

(E)           all of such Pledgor’s rights under any
partnership agreement or operating agreement or at law to exercise and enforce
every right, power, remedy, authority, option and privilege of such Pledgor
relating to such Partnership Interests, including any power to terminate,
cancel or modify any partnership agreement or operating agreement, to execute
any instruments and to take any and all other action on behalf of and in the
name of such Pledgor in respect of such Partnership Interests and any such
partnership, to make determinations, to exercise any election (including, but
not limited to, election of remedies) or option or to give or receive any
notice, consent, amendment, waiver or approval, together with full power and
authority to demand, receive, enforce, collect or receipt for any of the
foregoing or for any Partnership Asset, to enforce or execute any checks, or
other instruments or orders, to file any claims and to take any action in
connection with any of the foregoing; and

 

(F)           all other property hereafter delivered in
substitution for or in addition to any of the foregoing, all certificates and
instruments representing or evidencing such other property and all cash,
securities, interest, dividends, rights and other property at any time and from
time to time received, receivable or otherwise distributed in respect of or in
exchange for any or all thereof;

 

(e)           all Financial Assets and
Investment Property owned by such Pledgor from time to time;

 

(f)            all Security Entitlements
owned by such Pledgor from time to time in any and all of the foregoing; and

 

(g)           all Proceeds of any and all
of the foregoing;

 

provided, however, that
notwithstanding the foregoing, in no event shall the Pledgors be required to
pledge any Excluded Charged Assets to the Security Trustee under this Agreement
to secure the Designated Secured Obligations. 
For the avoidance of doubt,

 

10

 

(i)            all Collateral that does not
constitute Excluded Charged Assets remains pledged pursuant to this Agreement
to secure all Secured Obligations, including without limitation the Designated
Secured Obligations; and

 

(ii)           such Excluded Charged Assets
remain pledged under this Section 3.1 to secure any Secured Obligations
that are not Designated Secured Obligations.

 

In the event that Rule 3-16 is amended, modified or interpreted by
the SEC to require (or is replaced with another rule or regulation, or any
other law, rule or regulation is adopted, which would require) the filing
with the SEC (or any other United States federal or state governmental agency)
of separate financial statements of any such Subsidiary due to the fact that
such Subsidiary’s Ownership Interests or other securities secure any Designated
Secured Obligations, then such Ownership Interests or other securities (as
applicable) of such Subsidiary shall automatically be deemed to be Excluded
Charged Assets for such Designated Secured Obligations but (i) only to the
extent necessary to not be subject to any such financial statement requirement,
(ii) only for so long as such financial statement requirement would
otherwise have been applicable to such Subsidiary and (iii) only if no
member of the Group files or is otherwise required to file separate financial
statements of such Subsidiary with the SEC or such other governmental agency
under a separate rule or regulation. If the circumstances described in
this paragraph apply, this Agreement may be amended or modified, without the
consent of any Senior Finance Party, to the extent necessary to release the
pledge (but only to the extent securing such Designated Secured Obligations and
without prejudice to the pledge securing the Secured Obligations referred to in
clause (ii) of the preceding paragraph) in favor of the Security Trustee
on the relevant Ownership Interests and/or other securities that are so deemed
to constitute Excluded Charged Assets.

 

In the event that Rule 3-16 is amended, modified or interpreted by
the SEC to permit (or is replaced with another rule or regulation, or any other
law, rule or regulation is adopted, which would permit) such Subsidiary’s
Ownership Interests and/or other securities to secure any Designated Secured
Obligations in excess of the amount then pledged without the filing with the
SEC (or any other United States federal or state governmental agency) of
separate financial statements of such Subsidiary, then the Ownership Interests
or other securities (as applicable) of such Subsidiary will automatically be
deemed not to be Excluded Charged Assets for such Designated Secured
Obligations, but limited to the extent necessary to not be subject to any such
financial statement requirement. If the circumstances described in this
paragraph apply, this Agreement may be amended or modified, without the consent
of any Senior Finance Party, to the extent necessary to pledge in favor of the
Security Trustee such additional Ownership Interests or other securities that
were deemed to constitute Excluded Charged Assets.

 

3.2           Procedures

 

(a)           To the extent that any
Pledgor at any time or from time to time owns, acquires or obtains any right,
title or interest in any Collateral, such Collateral shall automatically (and
without the taking of any action by such Pledgor) be pledged pursuant to Section 3.1
of this Agreement and, in addition thereto, such Pledgor shall (as promptly as
practicable and, in any event, within 10 

 

11

 

days after it obtains such
Collateral) for the benefit of the Pledgee and the Beneficiaries:

 

(i)            with respect to a
Certificated Security (other than a Certificated Security credited on the books
of a Clearing Corporation or Securities Intermediary), such Pledgor shall
physically deliver such Certificated Security to the Pledgee, endorsed to the
Pledgee or endorsed in blank;

 

(ii)           with respect to an
Uncertificated Security (other than an Uncertificated Security credited on the
books of a Clearing Corporation or Securities Intermediary), such Pledgor shall
cause the issuer of such Uncertificated Security to duly authorize, execute,
and deliver to the Pledgee, an agreement for the benefit of the Pledgee and the
other Beneficiaries substantially in the form of Annex G hereto (appropriately
completed to the satisfaction of the Pledgee and with such modifications, if
any, as shall be satisfactory to the Pledgee) pursuant to which such issuer
agrees to comply with any and all instructions originated by the Pledgee
without further consent by the registered owner and not to comply with
instructions regarding such Uncertificated Security (and any Partnership
Interests and Limited Liability Company Interests issued by such issuer)
originated by any other person other than a court of competent jurisdiction;

 

(iii)          with respect to any
Collateral which constitutes a Certificated Security, Uncertificated Security,
Partnership Interest or Limited Liability Company Interest credited on the
books of a Clearing Corporation or Securities Intermediary (including a Federal
Reserve Bank, Participants Trust Company or The Depository Trust Company), such
Pledgor shall promptly notify the Pledgee thereof and shall promptly take (x) all
actions required (i) to comply with the applicable rules of such
Clearing Corporation or Securities Intermediary, and (ii) to perfect the
security interest of the Pledgee under applicable law (including, in any event,
under Sections 9-314(a), (b) and (c), 9-106 and 8-106(d) of the UCC)
and (y) such other actions as the Pledgee deems necessary or desirable to
effect the foregoing;

 

(iv)          with respect to a Partnership
Interest or a Limited Liability Company Interest (other than a Partnership
Interest or Limited Liability Company Interest credited on the books of a
Clearing Corporation or Securities Intermediary), (1) if such Partnership
Interest or Limited Liability Company Interest is represented by a certificate
and is a Security for purposes of the UCC, the procedure set forth in Section 3.2(a)(i) hereof,
and (2) if such Partnership Interest or Limited Liability Company Interest
is not represented by a certificate or is not a Security for purposes of the
UCC, the procedure set forth in Section 3.2(a)(ii) hereof;

 

(v)           with respect to any Note,
physical delivery of such Note to the Pledgee, endorsed in blank, or, at the
request of the Pledgee, endorsed to the Pledgee; and

 

(vi)          with respect to cash
proceeds from any of the Collateral described in Section 3.1 hereof
retained by the Pledgee in accordance with the terms hereof, (i) establishment
by the Pledgee of a cash account in the name of such Pledgor over which the
Pledgee shall have “control” within the meaning of the UCC and at any time any
Default or Event of Default is in existence no withdrawals or transfers may 

 

12

 

be made therefrom by any person except with the prior written consent
of the Pledgee, and (ii) deposit of such cash in such cash account.

 

(b)           In addition to the actions
required to be taken pursuant to Section 3.2(a) hereof, each Pledgor
shall take the following additional actions with respect to the Collateral:

 

(i)            with respect to all
Collateral of such Pledgor whereby or with respect to which the Pledgee may
obtain “control” thereof within the meaning of Section 8-106 of the UCC
(or under any provision of the UCC as same may be amended or supplemented from
time to time, or under the laws of any relevant State other than the State of
New York), such Pledgor shall take all actions as may be requested from
time to time by the Pledgee so that “control” of such Collateral is obtained
and at all times held by the Pledgee; and

 

(ii)           each Pledgor shall from time
to time cause appropriate financing statements (on appropriate forms) under the
Uniform Commercial Code as in effect in the various relevant States, covering
all Collateral hereunder (with the form of such financing statements to be
satisfactory to the Pledgee), to be filed in the relevant filing offices so
that at all times the Pledgee’s security interest in all Investment Property
and other Collateral which can be perfected by the filing of such financing
statements (in each case to the maximum extent perfection by filing may be
obtained under the laws of the relevant States, including, without limitation, Section 9-312(a) of
the UCC) is so perfected.

 

(c)           To the extent that any
certificates, instruments of transfer or other documents of title relating to
any Collateral (“Title Documents”) that are required to be delivered to
the Security Trustee pursuant to Section 3.2(a) have already been
delivered to Deutsche Bank AG, London Branch in its capacity as security
trustee under and for the purposes of the security interests over such
Collateral pursuant to the Original Pledge Agreement, the requirements of Section 3.2(a) shall
be deemed satisfied.

 

3.3           Subsequently Acquired Collateral

 

If any Pledgor shall acquire (by purchase, stock dividend, distribution
or otherwise) any additional Collateral at any time or from time to time after
the date hereof, (i) such Collateral shall automatically (and without any
further action being required to be taken) be subject to the pledge and
security interests created pursuant to Section 3.1 hereof and,
furthermore, such Pledgor will thereafter take (or cause to be taken) all
actions (as promptly as practicable and, in any event, within 10 days after it
obtains such Collateral) required with respect to such Collateral pursuant to
and in accordance with, the procedures set forth in Section 3.2 hereof,
and will promptly thereafter deliver to the Pledgee (i) a certificate
executed by an authorized officer of such Pledgor describing such Collateral
and certifying that the same has been duly pledged in favor of the Pledgee (for
the benefit of the Beneficiaries) hereunder, and (ii) supplements to
Annexes A through F hereto as are necessary to cause such Annexes to be
complete and accurate at such time.

 

13

 

3.4                                 Transfer Taxes

 

Each pledge of Collateral under Section 3.1 or Section 3.3
hereof shall be accompanied by any transfer tax stamps required in connection
with the pledge of such Collateral.

 

3.5                                 Certain Representations and Warranties
Regarding the Collateral

 

Each Pledgor represents and warrants that on the date hereof: (i)  the
Stock (and any warrants or options to purchase Stock) held by such Pledgor
consists of the number and type of shares of the stock (or warrants or options
to purchase any stock) of the corporations as described in Annex B hereto; (ii) such
Stock referenced in clause (i) of this paragraph constitutes that
percentage of the issued and outstanding capital stock of the issuing
corporation as is set forth in Annex B hereto; (iii) the Notes held by
such Pledgor consist of the promissory notes described in Annex C hereto where
such Pledgor is listed as the lender; (iv) the Limited Liability Company
Interests held by such Pledgor consist of the number and type of interests of
the persons described in Annex D hereto; (v) each such Limited Liability
Company Interest referenced in clause (iv) of this paragraph constitutes
that percentage of the issued and outstanding equity interest of the issuing
person as set forth in Annex D hereto; (vi) the Partnership Interests held
by such Pledgor consist of the number and type of interests of the persons
described in Annex E hereto; (vii) each such Partnership Interest
referenced in clause (vi) of this paragraph constitutes that percentage or
portion of the entire partnership interest of the Partnership as set forth in
Annex E hereto; (viii) the exact address of each chief executive office of
such Pledgor is listed on Annex F hereto; and (ix) each Pledgor has
complied with the respective procedure set forth in Section 3.2(a) hereof
with respect to each item of Collateral described in Annexes C through E
hereto; and (x) on the date hereof, such Pledgor owns no other Securities,
Stock, Notes, Limited Liability Company Interests or Partnership Interests.

 

4.                                      APPOINTMENT
OF SUB-AGENTS; ENDORSEMENTS, ETC.

 

The Pledgee shall have the right to appoint one or more sub-agents for
the purpose of retaining physical possession of the Collateral, which may be
held (in the discretion of the Pledgee) in the name of the relevant Pledgor,
endorsed or assigned in blank or in favor of the Pledgee or any nominee or
nominees of the Pledgee or a sub-agent appointed by the Pledgee.

 

5.                                      VOTING, ETC.,
WHILE NO EVENT OF DEFAULT.

 

Unless and until there shall have occurred and be continuing any Event
of Default, each Pledgor shall be entitled to exercise any and all voting and
other consensual rights pertaining to the Collateral owned by it, and to give
consents, waivers or ratifications in respect thereof; provided that, in
each case, no vote shall be cast or any consent, waiver or ratification given
or any action taken or omitted to be taken which would violate, result in a
breach of any covenant contained in, or be inconsistent with any of the terms
of any Security Document or other Senior Finance Document, or which could
reasonably be expected to have the effect of impairing the value of the
Collateral or any part thereof or the position or interests of the Pledgee or
any other Beneficiary in the Collateral, unless expressly permitted by the
terms of the Senior Finance Documents. 
All such rights of each Pledgor to vote and to give consents, 

 

14

 

waivers and ratifications shall cease in case an Event of Default has
occurred and is continuing, and the Enforcement Date has occurred.

 

6.                                      DIVIDENDS
AND OTHER DISTRIBUTIONS.

 

Unless and until there shall have occurred and be continuing an Event
of Default, all cash dividends, cash distributions, cash Proceeds and other
cash amounts payable in respect of the Collateral shall be paid to the
respective Pledgor.  The Pledgee shall be
entitled to receive directly, and to retain as part of the Collateral any and
all Proceeds of the Collateral consisting of:

 

(i)                                     additional
stock, notes, certificates, limited liability company interests, partnership
interests, instruments or other securities or property (including, but not
limited to, cash (although such cash may be paid directly to the Pledgor so
long as no Event of Default then exists)) paid or distributed by way of
dividend or otherwise in respect of the Collateral;

 

(ii)                                  additional
stock, notes, certificates, limited liability company interests, partnership
interests, instruments or other securities or property (including, but not
limited to, cash (although such cash may be paid directly to the respective
Pledgor so long as no Event of Default then exists)) paid or distributed in
respect of the Collateral by way of stock-split, spin-off, split-up,
reclassification, combination of shares or similar rearrangement; and

 

(iii)                               additional
stock, notes, certificates, limited liability company interests, partnership
interests, instruments or other securities or property (including, but not
limited to, cash (although such cash may be paid directly to the Pledgor so
long as no Event of Default then exists)) which may be paid in respect of the
Collateral by reason of any consolidation, merger, exchange of stock,
conveyance of assets, liquidation or similar corporate or other reorganization.

 

Nothing contained in this Section 6 shall limit or restrict in any
way the Pledgee’s right to receive the proceeds of the Collateral in any form
in accordance with Section 3 of this Agreement.  All dividends, distributions or other
payments which are received by any Pledgor contrary to the provisions of this Section 6
or Section 7 hereof shall be received in trust for the benefit of the
Pledgee, shall be segregated from other property or funds of such Pledgor and
shall be forthwith paid over to the Pledgee as Collateral in the same form as
so received (with any necessary endorsement).

 

7.                                      REMEDIES;
ENFORCEMENT

 

If the Enforcement Date shall have occurred, the Pledgee shall be
entitled to exercise all of the rights, powers and remedies (whether vested in
it by this Agreement, the Group Intercreditor Deed, any other Senior Finance
Document or by law) for the protection and enforcement of its rights in respect
of the Collateral, and the Pledgee shall be entitled to exercise all the rights
and remedies of a secured party under the UCC as in effect in any relevant
jurisdiction and also shall be entitled, without limitation, to exercise the
following rights, which each Pledgor hereby agrees to be commercially
reasonable:

 

15

 

(i)                                     to receive all
amounts payable in respect of the Collateral otherwise payable under Section 6
hereof to the Pledgor;

 

(ii)                                  to transfer all
or any part of the Collateral into the Pledgee’s name or the name of its
nominee or nominees;

 

(iii)                               to accelerate
any Pledged Note which may be accelerated in accordance with its terms, and
take any other lawful action to collect upon any Pledged Note (including,
without limitation, to make any demand for payment thereon);

 

(iv)                              to vote (and
exercise all rights and powers in respect of voting) all or any part of the
Collateral (whether or not transferred into the name of the Pledgee) and give
all consents, waivers and ratifications in respect of the Collateral and
otherwise act with respect thereto as though it were the outright owner thereof
(each Pledgor hereby irrevocably constituting and appointing the Pledgee the
proxy and attorney-in-fact of such Pledgor, with full power of substitution to
do so);

 

(v)                                 at any time and
from time to time to sell, assign and deliver, or grant options to purchase,
all or any part of the Collateral, or any interest therein, at any public or
private sale, without demand of performance, advertisement or, notice of
intention to sell or of the time or place of sale or adjournment thereof or to redeem
or otherwise purchase or dispose (all of which are hereby waived by each
Pledgor), for cash, on credit or for other property, for immediate or future
delivery without any assumption of credit risk, and for such price or prices
and on such terms as the Pledgee in its absolute discretion may determine, provided
at least 10 days’ written notice of the time and place of any such sale shall
be given to the respective Pledgor. The Pledgee shall not be obligated to make
any such sale of Collateral regardless of whether any such notice of sale has
theretofore been given. Each Pledgor hereby waives and releases to the fullest
extent permitted by law any right or equity of redemption with respect to the
Collateral, whether before or after sale hereunder, and all rights, if any, of
marshalling the Collateral and any other security or the Obligations or
otherwise. At any such sale, unless prohibited by applicable law, the Pledgee
on behalf of the Beneficiaries may bid for and purchase all or any part of the
Collateral so sold free from any such right or equity of redemption. Neither
the Pledgee nor any other Beneficiary shall be liable for failure to collect or
realize upon any or all of the Collateral or for any delay in so doing nor
shall any of them be under any obligation to take any action whatsoever with
regard thereto; and

 

(vi)                              to set off any
and all Collateral against any and all Obligations , and to withdraw any and
all cash or other Collateral from any and all Collateral Accounts and to apply
such cash and other Collateral to the payment of any and all Obligations.

 

8.                                      REMEDIES,
CUMULATIVE, ETC.

 

Each and every right, power and remedy of the Pledgee provided for in
this Agreement or in any other Senior Finance Document, or now or hereafter
existing at law or in equity or by statute shall be cumulative and concurrent
and shall be in 

 

16

 

addition to every other such right, power or remedy. The exercise or
beginning of the exercise by the Pledgee or any other Beneficiary of any one or
more of the rights, powers or remedies provided for in this Agreement or any
other Senior Finance Document or now or hereafter existing at law or in equity
or by statute or otherwise shall not preclude the simultaneous or later exercise
by the Pledgee or any other Beneficiary of all such other rights, powers or
remedies, and no failure or delay on the part of the Pledgee or any other
Beneficiary to exercise any such right, power or remedy shall operate as a
waiver thereof.  No notice to or demand
on any Pledgor in any case shall entitle it to any other or further notice or
demand in similar or other circumstances or constitute a waiver of any of the
rights of the Pledgee or any other Beneficiary to any other or further action
in any circumstances without notice or demand. 
The Beneficiaries agree that this Agreement may be enforced only by the
action of the Pledgee, in each case, acting upon the instruction of the
Relevant Agent, and that no other Beneficiary shall have any right individually
to seek to enforce or to enforce this Agreement or to realize upon the security
to be granted hereby, it being understood and agreed that such rights and
remedies may be exercised by the Pledgee for the benefit of the Beneficiaries
upon the terms of this Agreement and the Security Trust Agreement.

 

9.                                      APPLICATION
OF PROCEEDS

 

(a)                                  All monies
collected by the Pledgee upon any sale or other disposition of the Collateral
pursuant to the terms of this Agreement, together with all other monies
received by the Pledgee hereunder, shall be applied in the manner provided in
the Group Intercreditor Deed and the Security Trust Agreement.

 

(b)                                 It is
understood and agreed that each Pledgor shall remain jointly and severally
liable with respect to its Obligations to the extent of any deficiency between
the amount of the proceeds of the Collateral pledged by it hereunder and the
aggregate amount of such Obligations, provided that before any demand for
payment by the Security Trustee is made on any Pledgor that is a Restricted
Guarantor, demand for payment of the relevant Obligation shall first have been
made on the Borrower from which such unpaid Obligation is due (if any).

 

10.                               PURCHASERS
OF COLLATERAL

 

Upon any sale of the Collateral by the Pledgee hereunder (whether by
virtue of the power of sale herein granted, pursuant to judicial process or
otherwise), the receipt of the Pledgee or the officer making such sale shall be
a sufficient discharge to the purchaser or purchasers of the Collateral so
sold, and such purchaser or purchasers shall not be obligated to see to the
application of any part of the purchase money paid over to the Pledgee or such
officer or be answerable in any way for the misapplication or nonapplication
thereof.

 

11.                               INDEMNITY

 

Each Pledgor jointly and
severally agrees (i) to indemnify, reimburse and hold harmless the Pledgee
and the Beneficiaries and their respective successors, assigns, employees,
agents and affiliates (individually an “Indemnitee”,
and collectively, the “Indemnitees”)
from and against any and all obligations, damages, injuries, penalties, 

 

17

 

claims, demands, losses, judgments and liabilities (including, without
limitation, liabilities for penalties) of whatsoever kind or nature, and (ii) to
reimburse each Indemnitee for all reasonable costs, expenses and disbursements,
including reasonable attorneys’ fees and expenses, in each case arising out of
or resulting from this Agreement or the exercise by any Indemnitee of any right
or remedy granted to it hereunder or under any other Senior Finance Document
(but excluding any obligations, damages, injuries, penalties, claims, demands,
losses, judgments and liabilities (including, without limitation, liabilities
for penalties) or expenses of whatsoever kind or nature to the extent incurred
or arising by reason of gross negligence or willful misconduct of such
Indemnitee (as determined by a court of competent jurisdiction in a final and
non-appealable decision)).  In no event
shall the Pledgee hereunder be liable, in the absence of gross negligence or
willful misconduct on its part (as determined by a court of competent
jurisdiction in a final and non-appealable decision), for any matter or thing
in connection with this Agreement other than to account for monies or other
property actually received by it in accordance with the terms hereof.  If and to the extent that the obligations of
any Pledgor under this Section 11 are unenforceable for any reason, such
Pledgor hereby agrees to make the maximum contribution to the payment and
satisfaction of such obligations which is permissible under applicable law. The
indemnity obligations of each Pledgor contained in this Section 11 shall
continue in full force and effect notwithstanding the full payment of all
Obligations and notwithstanding the discharge thereof.

 

12.                               PLEDGEE
NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER.

 

(a)                                  Nothing herein
shall be construed to make the Pledgee or any other Beneficiary liable as a
member of any limited liability company or as a partner of any partnership and
neither the Pledgee nor any other Beneficiary by virtue of this Agreement or
otherwise (except as referred to in the following sentence) shall have any of
the duties, obligations or liabilities of a member of any limited liability
company or as a partner in any partnership. 
The parties hereto expressly agree that, unless the Pledgee shall become
the absolute owner of Collateral consisting of a Limited Liability Company Interest
or a Partnership Interest pursuant hereto, this Agreement shall not be
construed as creating a partnership or joint venture among the Pledgee, any
other Beneficiary, any Pledgor and/or any other person.

 

(b)                                 Except as
provided in the last sentence of paragraph (a) of this Section 12,
the Pledgee, by accepting this Agreement, did not intend to become a member of
any limited liability company or a partner of any partnership or otherwise be
deemed to be a co-venturer with respect to any Pledgor, any limited liability
company, partnership and/or any other person either before or after an Event of
Default shall have occurred.  The Pledgee
shall have only those powers set forth herein and the Beneficiaries shall
assume none of the duties, obligations or liabilities of a member of any
limited liability company or as a partner of any partnership or any Pledgor
except as provided in the last sentence of paragraph (a) of this Section 12.

 

(c)                                  The Pledgee and
the other Beneficiaries shall not be obligated to perform or discharge any
obligation of any Pledgor as a result of the pledge hereby effected.

 

18

 

 

(d)                                 The acceptance
by the Pledgee of this Agreement, with all the rights, powers, privileges and
authority so created, shall not at any time or in any event obligate the
Pledgee or any other Beneficiary to appear in or defend any action or
proceeding relating to the Collateral to which it is not a party, or to take
any action hereunder or thereunder, or to expend any money or incur any
expenses or perform or discharge any obligation, duty or liability under the
Collateral.

 

13.                               FURTHER
ASSURANCES; POWER-OF-ATTORNEY

 

(a)                                  Each Pledgor
agrees that it will join with the Pledgee in executing any encumbrance or
assurance and, at such Pledgor’s own expense, if necessary, file and refile
under the UCC or any other applicable law such financing statements,
continuation statements and other documents, in form reasonably acceptable to
the Pledgee, in such offices as the Pledgee may reasonably deem necessary or
appropriate, and wherever required or permitted by law in order to perfect and
preserve the Pledgee’s security interest in the Collateral hereunder and hereby
authorizes the Pledgee to file financing statements and amendments thereto
relative to all or any part of the Collateral (including, without limitation,
(x) financing statements which list the Collateral specifically and/or
“all assets” as collateral) without the signature of such Pledgor where
permitted by law, and agrees to do such further acts and things and to execute
and deliver to the Pledgee such additional conveyances, assignments, agreements
and instruments as the Pledgee may reasonably require or deem advisable to
carry into effect the purposes of this Agreement or to further assure and
confirm unto the Pledgee its rights, powers and remedies hereunder or
thereunder.

 

(b)                                 Each Pledgor
hereby constitutes and appoints the Pledgee its true and lawful
attorney-in-fact, irrevocably, with full authority in the place and stead of
such Pledgor and in the name of such Pledgor or otherwise, from time to time
after the occurrence and during the continuance of an Event of Default, in the
Pledgee’s discretion, to act, require, demand, receive and give acquittance for
any and all monies and claims for monies due or to become due to such Pledgor
under or arising out of the Collateral, to endorse any checks or other
instruments or orders in connection therewith and to file any claims or take
any action or institute any proceedings and to execute any instrument which the
Pledgee may deem necessary or advisable to accomplish the purposes of this
Agreement, which appointment as attorney is coupled with an interest.

 

14.                               THE
PLEDGEE AS SECURITY TRUSTEE

 

The Pledgee will hold, as Security Trustee, in accordance with this Agreement
all items of the Collateral at any time received under this Agreement. It is
expressly understood, acknowledged and agreed by each Beneficiary that by
accepting the benefits of this Agreement each such Beneficiary acknowledges and
agrees that the obligations of the Pledgee as holder of the Collateral and
interests therein and with respect to the disposition thereof, and otherwise
under this Agreement, are only those expressly set forth in this Agreement, in
the Group Intercreditor Deed, the Security Trust Agreement and in the other
Senior Finance Documents.  The Pledgee
shall act hereunder on the terms and conditions set forth herein, the Group
Intercreditor Deed, the Security Trust Agreement and in the other Senior
Finance Documents.

 

19

 

15.                               TRANSFER
BY THE PLEDGORS

 

Except as permitted pursuant to or not restricted by any of the Senior
Finance Documents (i) prior to the date all Secured Obligations (other
than contingent indemnification obligations not then due) and all other amounts
owing under and with respect to the Senior Finance Documents have been paid in
full and all Commitments under the Senior Finance Documents have been
terminated, and (ii) thereafter, pursuant to the other Security Documents,
no Pledgor will sell or otherwise dispose of, grant any option with respect to,
or mortgage, pledge or otherwise encumber any of the Collateral or any interest
therein.

 

16.                               REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE PLEDGORS

 

(a)                                  Each Pledgor
represents, warrants and covenants as to itself and each of its Subsidiaries
that:

 

(i)                                     it is duly formed validly existing as a corporation, limited liability
company or partnership, as applicable, and has all requisite corporate limited
liability company or partnership power and authority, as applicable, to own its
property and other assets;

 

(ii)                                  it is the legal, beneficial and record owner of, and has good and
marketable title to, all of its Collateral consisting of one or more
Securities, Partnership Interests and Limited Liability Company Interests and
that it has sufficient interest in all of its Collateral in which a security
interest is purported to be created hereunder for such security interest to
attach (subject, in each case, to no pledge, lien, mortgage, hypothecation,
security interest, charge, option, Adverse Claim or other encumbrance
whatsoever, except the liens and security interests created by this Agreement
or permitted under the Senior Finance Documents);

 

(iii)                               it has full power, authority and legal right to pledge all the Collateral
pledged by it pursuant to this Agreement;

 

(iv)                              this Agreement has been duly authorized, executed and delivered by such
Pledgor and constitutes a legal, valid and binding obligation of such Pledgor
enforceable against such Pledgor in accordance with its terms, except to the
extent that the enforceability thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting
creditors’ rights generally and by general equitable principles (regardless of
whether enforcement is sought in equity or at law);

 

(v)                                 except to the extent already obtained or made, no consent of any other
party (including, without limitation, any stockholder, partner, member or
creditor of such Pledgor or any of its Subsidiaries) and no consent, license,
permit, approval or authorization of, exemption by, notice or report to, or
registration, filing or declaration with, any governmental authority is
required to be obtained by such Pledgor in connection with 

 

20

 

(a) the
execution, delivery or performance of this Agreement by such Pledgor, (b) the
validity or enforceability of this Agreement against such Pledgor (except as
set forth in clause (iii) above), (c) the perfection or
enforceability of the Pledgee’s security interest in such Pledgor’s Collateral
or (d) except for compliance with or as may be required by applicable
securities laws, the exercise by the Pledgee of any of its rights or remedies provided
herein;

 

(vi)                              neither the execution, delivery or performance by such Pledgor of this
Agreement, or any other Senior Finance Document to which it is a party, nor
compliance by it with the terms and provisions hereof and thereof nor the
consummation of the transactions contemplated therein:  (i) will contravene any provision of any
applicable law, statute, rule or regulation, or any applicable order,
writ, injunction or decree of any court, arbitrator or governmental
instrumentality, domestic or foreign, applicable to such Pledgor; (ii) will
conflict or be inconsistent with or result in any breach of any of the terms,
covenants, conditions or provisions of, or constitute a default under, or
result in the creation or imposition of (or the obligation to create or impose)
any Encumbrance (except pursuant to the Senior Finance Documents) upon any of
the properties or assets of such Pledgor pursuant to the terms of any
indenture, lease, mortgage, deed of trust, credit agreement, loan agreement or
any other material agreement, contract or other instrument to which such
Pledgor or any of its Subsidiaries is a party or is otherwise bound, or by
which it or any of its properties or assets is bound or to which it may be
subject; or (iii) will violate any provision of the certificate of
incorporation, by-laws, certificate of partnership, partnership agreement,
certificate of formation or limited liability company agreement (or equivalent
organizational documents), as the case may be, of such Pledgor or any of its Subsidiaries;

 

(vii)                           all of such Pledgor’s Collateral (consisting of Securities, Limited
Liability Company Interests and Partnership Interests) has been duly and
validly issued, is fully paid and, to the extent relevant, non-assessable and
is subject to no options to purchase or similar rights;

 

(viii)                        each of such Pledgor’s Pledged Notes constitutes, or when executed by the
obligor thereof will constitute, the legal, valid and binding obligation of
such obligor, enforceable in accordance with its terms, except to the extent
that the enforceability thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting
creditors’ rights generally and by general equitable principles (regardless of
whether enforcement is sought in equity or at law);

 

(ix)                                the pledge, collateral assignment and delivery to the Pledgee of such
Pledgor’s Collateral consisting of Certificated Securities and Pledged Notes
pursuant to this Agreement creates a valid and perfected first priority
security interest in such Certificated Securities, and Pledged Notes and the
proceeds thereof, subject to no prior lien or Encumbrance or to any agreement
purporting to grant to any third 

 

21

 

party a lien or
Encumbrance on the property or assets of such Pledgor which would include the
Securities (other than the Encumbrances permitted under the Senior Finance
Documents then in effect) and the Pledgee is entitled to all the rights,
priorities and benefits afforded by the UCC or other relevant law as enacted in
any relevant jurisdiction to perfect security interests in respect of such
Collateral; and

 

(x)                                   “control” (as defined in Section 8-106 of the UCC) has been obtained
by the Pledgee over all of such Pledgor’s Collateral consisting of Securities
(including, without limitation, Notes which are Securities) with respect to
which such “control” may be obtained pursuant to Section 8-106 of the UCC,
except to the extent that the obligation of the applicable Pledgor to provide
the Pledgee with “control” of such Collateral has not yet arisen under this
Agreement, provided that in the case of the Pledgee obtaining “control” over
Collateral consisting of a Security Entitlement, such Pledgor shall have taken
all steps in its control so that the Pledgee obtains “control” over such
Security Entitlement.

 

(b)                                 Each Pledgor
covenants and agrees that it will defend the Pledgee’s right, title and
security interest in and to such Pledgor’s Collateral and the proceeds thereof
against the claims and demands of all persons whomsoever; and each Pledgor
covenants and agrees that it will have like title to and right to pledge any
other property at any time hereafter pledged to the Pledgee by such Pledgor as
Collateral hereunder and will likewise defend the right thereto and security
interest therein of the Pledgee and the other Beneficiaries.

 

17.                               LEGAL
NAMES; TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A
TRANSMITTING UTILITY); JURISDICTION OF ORGANIZATION; LOCATION; ORGANIZATIONAL
IDENTIFICATION NUMBER; CHANGES THERETO; ETC.

 

The exact legal name of each Pledgor, the type of organization of such
Pledgor, whether or not such Pledgor is a Registered Organization, the
jurisdiction of organization of such Pledgor, such Pledgor’s Location, the
organizational identification number (if any) of each Pledgor, and whether or
not such Pledgor is a Transmitting Utility, is listed on Annex A hereto.  Save as permitted by the Senior Finance
Documents no Pledgor shall change its legal name, its type of organization, its
status as a Registered Organization (in the case of a Registered Organization),
its status as a Transmitting Utility or as a person which is not a Transmitting
Utility, as the case may be, its jurisdiction of organization, its Location, or
its organizational identification number (if any), except that any such changes
shall be permitted (so long as not in violation of the applicable requirements
of the Senior Finance Documents and so long as same do not involve (x) a
Registered Organization ceasing to constitute same or (y) any Pledgor
which is organized under the laws of the United States or any State thereof
changing its jurisdiction of organization or Location from the United States or
a State thereof to a jurisdiction of organization or Location, as the case may
be, outside the United States or a State thereof) if (i) it shall have
given to the Pledgee not less than 15 days’ prior written notice of each change
to the information listed on Annex A (as adjusted for any subsequent changes
thereto previously made in accordance with this sentence), together with a
supplement to

 

22

 

Annex A which shall correct all information contained therein for such
Pledgor, and (ii) in connection with the respective such change or
changes, it shall have taken all action reasonably requested by the Pledgee to
maintain the security interests of the Security Trustee in the Collateral
intended to be granted hereby at all times fully perfected and in full force
and effect.  In addition, to the extent
that any Pledgor does not have an organizational identification number on the
date hereof and later obtains one, such Pledgor shall promptly thereafter
deliver a notification to the Pledgee of such organizational identification
number and shall take all actions reasonably satisfactory to the Security
Trustee to the extent necessary to maintain the security interest of the
Security Trustee in the Collateral intended to be granted hereby fully
perfected and in full force and effect.

 

18.                               PLEDGORS’
OBLIGATIONS ABSOLUTE, ETC.

 

The obligations of each Pledgor under this Agreement shall be absolute
and unconditional and shall remain in full force and effect without regard to,
and shall not be released, suspended, discharged, terminated or otherwise
affected by, any circumstance or occurrence whatsoever (other than termination
of this Agreement pursuant to Section 20), including, without limitation:

 

(a)                                  any renewal,
extension, amendment or modification of, or addition or supplement to or
deletion from any Senior Finance Document (other than this Agreement in
accordance with its terms), or any other instrument or agreement referred to
therein, or any assignment or transfer of any thereof;

 

(b)                                 any waiver,
consent, extension, indulgence or other action or inaction under or in respect
of any such agreement or instrument including, without limitation, this
Agreement (other than a waiver, consent or extension with respect to this
Agreement in accordance with its terms);

 

(c)                                  any furnishing
of any additional security to the Pledgee or its assignee or any acceptance
thereof or any release of any security by the Pledgee or its assignee;

 

(d)                                 any limitation
on any party’s liability or obligations under any such instrument or agreement
or any invalidity or unenforceability, in whole or in part, of any such
instrument or agreement or any term thereof; or

 

(e)                                  any bankruptcy,
insolvency, reorganization, composition, adjustment, dissolution, liquidation
or other like proceeding relating to any Pledgor or any Subsidiary of any
Pledgor, or any action taken with respect to this Agreement by any trustee or
receiver, or by any court, in any such proceeding, whether or not such Pledgor
shall have notice or knowledge of any of the foregoing.

 

19.                               SALE OF
COLLATERAL WITHOUT REGISTRATION

 

If at any time when the Pledgee shall determine to exercise its right
to sell all or any part of the Collateral consisting of Securities, Limited
Liability Company Interests or Partnership Interests pursuant to Section 7
hereof, and such Collateral or the part thereof to be sold shall not, for any
reason whatsoever, be effectively registered under the Securities Act, as then
in effect, the Pledgee may, in its sole and absolute 

 

23

 

discretion, sell such Collateral or part thereof by private sale in
such manner and under such circumstances as the Pledgee may deem necessary or
advisable in order that such sale may legally be effected without such
registration.  Without limiting the
generality of the foregoing, in any such event the Pledgee, in its sole and
absolute discretion (i) may proceed to make such private sale
notwithstanding that a registration statement for the purpose of registering
such Collateral or part thereof shall have been filed under such Securities
Act, (ii) may approach and negotiate with a single possible purchaser to
effect such sale, and (iii) may restrict such sale to a purchaser who will
represent and agree that such purchaser is purchasing for its own account, for
investment, and not with a view to the distribution or sale of such Collateral
or part thereof.  In the event of any
such sale, the Pledgee shall incur no responsibility or liability for selling
all or any part of the Collateral at a price which the Pledgee, in its sole and
absolute discretion, may in good faith deem reasonable under the circumstances,
notwithstanding the possibility that a substantially higher price might be
realized if the sale were deferred until the registration as aforesaid.

 

20.                               TERMINATION;
RELEASE

 

(a)                                  On the
Termination Date, this Agreement shall terminate (provided that all indemnities
set forth herein including, without limitation, in Section 11 hereof shall
survive any such termination) and the Pledgee, at the request and expense of
such Pledgor, will execute and deliver to such Pledgor a proper instrument or
instruments acknowledging the satisfaction and termination of this Agreement,
and will duly release from the security interest created hereby and assign,
transfer and deliver to such Pledgor (without recourse and without any
representation or warranty) such of the Collateral as may be in the possession
of the Pledgee and as has not theretofore been sold or otherwise applied or
released pursuant to this Agreement, together with any moneys at the time held
by the Pledgee or any of its sub-agents hereunder.  As used in this Agreement, “Termination Date” shall mean the date upon
which the Commitments under the Senior Finance Documents have been terminated,
no Documentary Credit (as defined in the Relevant Facilities Agreement) is
outstanding (and all Advances have been paid in full), all Documentary Credits
have been terminated, and all other Obligations (other than indemnities
described in the Senior Finance Documents which are not then due and payable)
then due and payable have been paid in full.

 

(b)                                 In the event
that any part of the Collateral is sold or otherwise disposed of to a person
other than an Obligor and (x) such disposal is permitted or not restricted
under any of the Senior Finance Documents, or (y) is otherwise released
with the consent of the Instructing Party in accordance with the terms of the
Group Intercreditor Deed, and in the case of clauses (x) and (y), the
proceeds of such sale or disposition (or from such release) are applied in
accordance with the terms of the Senior Finance Documents to the extent
required to be so applied, the Pledgee, at the request and expense of such
Pledgor, will duly release from the security interest created hereby (and will
execute and deliver such documentation, including termination or partial
release statements and the like in connection therewith) and assign, transfer
and deliver to such Pledgor (without recourse and without any representation or
warranty) such of the Collateral as is then being (or has been) so sold or 

 

24

 

released and as may be in
the possession of the Pledgee (or, in the case of Collateral held by any
sub-agent designated pursuant to Section 4 hereto, such sub-agent) and has
not theretofore been released pursuant to this Agreement.

 

(c)                                  At any time
that any Pledgor desires that Collateral be released as provided in the
foregoing Section 20(a) or (b), it shall deliver to the Pledgee (and
the relevant sub-agent, if any, designated pursuant to Section 4 hereof) a
certificate signed by an authorized officer of such Pledgor stating that the release
of the respective Collateral is permitted pursuant to Section 20(a) or (b) hereof.  If reasonably requested by the Pledgee
(although the Pledgee shall have no obligation to make any such request), such
Pledgor shall furnish appropriate legal opinions (from counsel, reasonably
acceptable to the Pledgee) to the effect set forth in the immediately preceding
sentence.

 

(d)                                 The Pledgee
shall have no liability whatsoever to any other Beneficiary as the result of
any release of Collateral by it in accordance with (or which the Pledgee in
good faith believes to be in accordance with) this Section 20.

 

21.                               NOTICES, ETC.

 

Except as otherwise specified herein, all notices, requests, demands or
other communications to or upon the respective parties hereto shall be sent or
delivered by mail, telegraph, telex, telecopy, cable or courier service and all
such notices and communications shall, when mailed, telegraphed, telexed,
telecopied, or cabled or sent by courier, be effective when deposited in the
mails, delivered to the telegraph company, cable company or overnight courier,
as the case may be, or sent by telex or telecopier, except that notices and
communications to the Pledgee or any Pledgor shall not be effective until
received by the Pledgee or such Pledgor, as the case may be.  All notices and other communications shall be
in writing and addressed as follows:

 

(a)                                  if to any
Pledgor, at:

 

	
   

  	
  Address:

  	
  c/o Virgin Media Limited

  
	
   

  	
   

  	
  160 Great Portland Street

  
	
   

  	
   

  	
  London W1W 5QA

  
	
   

  	
  Attention:

  	
  FAO Group Legal Director

  
	
   

  	
  Telefax:

  	
  020 7299 6000

  

 

(b)                                 if to the
Pledgee, at:

 

	
   

  	
  Address:

  	
  Winchester House

  
	
   

  	
   

  	
  1 Great Winchester Street

  
	
   

  	
   

  	
  London EC2N 2DB England

  
	
   

  	
  Attention:

  	
  Nicola
  Dawes and Rajeen Thaheria

  
	
   

  	
  Telefax:

  	
  +44
  (20) 7547 6419

  

 

22.                               WAIVER;
AMENDMENT

 

Except as provided in Sections 30 and 32 hereof, none of the terms and
conditions of this Agreement may be changed, waived, modified or varied in any
manner 

 

25

 

whatsoever except in accordance with the provisions of the Senior
Finance Documents.

 

23.                               SUCCESSORS
AND ASSIGNS

 

This Agreement shall create a continuing security interest in the
Collateral and shall (i) remain in full force and effect, subject to
release and/or termination as set forth in Section 20, (ii) be
binding upon each Pledgor, its successors and assigns; provided, however,
that no Pledgor shall assign any of its rights or obligations hereunder without
the prior written consent of the Pledgee, and (iii) inure, together with
the rights and remedies of the Pledgee hereunder, to the benefit of the
Pledgee, the other Beneficiaries and their respective successors, transferees
and assigns.  All agreements, statements,
representations and warranties made by each Pledgor herein or in any
certificate or other instrument delivered by such Pledgor or on its behalf
under this Agreement shall be considered to have been relied upon by the
Beneficiaries and shall survive the execution and delivery of this Agreement
and the other Security Documents regardless of any investigation made by the
Beneficiaries or on their behalf.

 

24.                               HEADINGS
DESCRIPTIVE

 

The headings of the several Sections of this Agreement are inserted for
convenience only and shall not in any way affect the meaning or construction of
any provision of this Agreement.

 

25.                               GOVERNING
LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL

 

(a)                                  THIS AGREEMENT
AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT
TO THIS AGREEMENT OR ANY OTHER SENIOR FINANCE DOCUMENT MAY BE BROUGHT IN
THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN
DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW
YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PLEDGOR HEREBY
IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH
PLEDGOR HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK
PERSONAL JURISDICTION OVER SUCH PLEDGOR, AND AGREES NOT TO PLEAD OR CLAIM IN
ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER
SENIOR FINANCE DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH
COURT LACKS PERSONAL JURISDICTION OVER SUCH PLEDGOR.  EACH PLEDGOR FURTHER IRREVOCABLY CONSENTS TO
THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH
ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY 

 

26

 

REGISTERED OR CERTIFIED
MAIL, POSTAGE PREPAID, TO ANY SUCH PLEDGOR AT ITS ADDRESS FOR NOTICES AS
PROVIDED IN SECTION 21 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS
AFTER SUCH MAILING.  EACH PLEDGOR HEREBY
IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER
IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING
COMMENCED HEREUNDER OR UNDER ANY OTHER SENIOR FINANCE DOCUMENT THAT SUCH
SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE.  NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE
PLEDGEE UNDER THIS AGREEMENT, OR ANY BENEFICIARIES, TO SERVE PROCESS IN ANY
OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST ANY PLEDGOR IN ANY OTHER JURISDICTION.

 

(b)                                 EACH PLEDGOR
HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING
OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER SENIOR FINANCE
DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY
FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT
THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT
IN AN INCONVENIENT FORUM.

 

(c)                                  EACH OF THE
PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO
THIS AGREEMENT, THE OTHER SENIOR FINANCE DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY.

 

26.                               PLEDGOR’S DUTIES

 

It is expressly agreed, anything herein contained to the contrary
notwithstanding, that each Pledgor shall remain liable to perform all of the
obligations, if any, assumed by it with respect to the Collateral and the
Pledgee shall not have any obligations or liabilities with respect to any
Collateral by reason of or arising out of this Agreement, except for the
safekeeping of Collateral actually in Pledgee’s possession, nor shall the
Pledgee be required or obligated in any manner to perform or fulfill any of the
obligations of any Pledgor under or with respect to any Collateral.

 

27.                               COUNTERPARTS

 

This Agreement may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which when so
executed and delivered shall be an original, but all of which shall together
constitute one and the same instrument. 
A set of counterparts executed by all the parties hereto shall be lodged
with each Pledgor and the Pledgee.

 

27

 

28.                               SEVERABILITY

 

Any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

29.                               RECOURSE

 

This Agreement is made with full recourse to each Pledgor and pursuant
to and upon all the representations, warranties, covenants and agreements on
the part of such Pledgor contained herein and in the other Senior Finance
Documents and otherwise in writing in connection herewith or therewith.

 

30.                               ADDITIONAL
PLEDGORS

 

It is understood and agreed that any person that is required to become
a party to this Agreement after the date hereof pursuant to the requirements of
any Senior Finance Document, shall become a Pledgor hereunder by (x) executing
a counterpart hereof and delivering same to the Pledgee or executing a joinder
agreement and delivering same to the Relevant Agent, in each case as may be
required by (and in form and substance satisfactory to) the Relevant Agent, (y) delivering
supplements to Annexes A through F, hereto as are necessary to cause such
annexes to be complete and accurate with respect to such additional Pledgor on
such date and (z) taking all actions as specified in this Agreement as
would have been taken by such Pledgor had it been an original party to this
Agreement, in each case with all documents required above to be delivered to
the Pledgee and with all documents and actions required above to be taken to
the reasonable satisfaction of the Pledgee.

 

31.                               LIMITED
OBLIGATIONS

 

It is the desire and intent of each Pledgor and the Beneficiaries that
this Agreement shall be enforced against each Pledgor to the fullest extent
permissible under the laws applied in each jurisdiction in which enforcement is
sought.

 

32.                               RELEASE
OF PLEDGORS

 

If at any time all of the Equity Interests of any Pledgor owned by any
Borrower or any of their respective Subsidiaries are sold (to a person other
than a Senior Finance Party) in a transaction permitted under or not restricted
by any Senior Finance Document, then, such Pledgor shall be released as a
Pledgor pursuant to this Agreement without any further action hereunder (it
being understood that the sale of all of the Equity Interests in any person
that owns, directly or indirectly, all of the Equity Interests in any Pledgor
shall be deemed to be a sale of all of the Equity Interests in such Pledgor for
purposes of this Section), and the Pledgee is authorized and directed to
execute and deliver such instruments of release as are reasonably satisfactory
to it.  At any time that any Borrower
desires that a Pledgor be released from this Agreement as provided in this Section 32,
such Borrower shall deliver to the Pledgee a certificate signed by a principal
executive officer of such Borrower stating that the release of such Pledgor is
permitted pursuant to this Section 32. 
If reasonably 

 

28

 

requested by Pledgee (although the Pledgee shall have no obligation to
make any such request), such Borrower shall furnish legal opinions (from
counsel acceptable to the Pledgee) to the effect set forth in the immediately
preceding sentence.  The Pledgee shall
have no liability whatsoever to any other Beneficiary as a result of the
release of any Pledgor by it in accordance with, or which it believes in good
faith to be in accordance with, this Section 32.

 

33.                               AMENDMENT
AND RESTATEMENT

 

This Agreement shall amend and restate in its entirety the Original
Pledge Agreement, and all obligations of the Pledgor thereunder shall be deemed
replaced and extended as obligations under this Agreement and be governed
hereby without novation.  In no event
shall such amendment and restatement be construed as a termination of the
obligations under the Original Pledge Agreement.

 

29

 

IN WITNESS WHEREOF, each Pledgor and the
Pledgee have caused this Agreement to be executed by their duly elected
officers duly authorized as of the date first above written.

 

	
  NNS U.K. HOLDINGS 1 LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NNS U.K. HOLDINGS 2, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NORTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NORTH CABLECOMMS L.L.C.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NORTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL BROMLEY COMPANY

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  

 

 

	
  NTL CABLECOMMS GROUP, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL CHARTWELL
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL CHARTWELL HOLDINGS
  2, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL NORTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL NORTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL PROGRAMMING SUBSIDIARY
  COMPANY

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  

 

 

	
  NTL SOLENT COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL SOUTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL SOUTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL SURREY COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL SUSSEX COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL UK CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  

 

 

	
  NTL WESSEX COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL WINSTON HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL WIRRAL COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  SOUTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  SOUTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  SOUTH CABLECOMMS L.L.C.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  

 

 

	
  WINSTON INVESTORS L.L.C.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  CHARTWELL
  INVESTORS L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  Its General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NTL Chartwell Holdings Limited

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Its Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Virgin Media Directors Limited

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
   

  	
   

  	
  Title: Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  (TRIANGLE) LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: President

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL
  WINSTON HOLDINGS LIMITED

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: Director of Virgin Media Directors Limited

  	
   

  
	
   

  	
   

  	
   

  
	
  NTL
  CABLECOMMS GROUP LIMITED

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: Director of Virgin Media Directors Limited

  	
   

  

 

 

	
  NTL CHARTWELL HOLDINGS LIMITED

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: Director of Virgin Media Directors Limited

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  VIRGIN
  MEDIA LIMITED

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT MACKENZIE

  	
   

  
	
   

  	
  Name: Robert Mackenzie

  	
   

  
	
   

  	
  Title: Director

  	
   

  

 

 

	
  Accepted and agreed to:

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE
  BANK AG, LONDON BRANCH

  	
   

  
	
  as Security Trustee and
  Pledgee

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ N. DAWES

  	
   

  
	
   

  	
  Name: N. Dawes

  	
   

  
	
   

  	
  Title: V.P.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ V. MAYELL

  	
   

  
	
   

  	
  Name: V. Mayell

  	
   

  
	
   

  	
  Title: A.V.P.

  	
   

  
				

 

 

ANNEX
A

to

PLEDGE
AGREEMENT

 

SCHEDULE OF
LEGAL NAMES, TYPE OF ORGANIZATION

(AND WHETHER A REGISTERED ORGANIZATION AND/OR

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION, 

LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS

 

	
  Exact Legal Name of the

  Pledgor

  	
   

  	
  Type of Organization

  	
   

  	
  Registered 

  Organization? 

  (Yes/No)

  	
   

  	
  Jurisdiction 

  of 

  Organization

  	
   

  	
  Pledgor’s 

  Location (for 

  purposes of NY 

  UCC § 9-307)

  	
   

  	
  Pledgor’s 

  Organization 

  Identification 

  Number (or, if it 

  has none, so 

  indicate)

  	
   

  	
  Transmitting 

  Utility? 

  (Yes/No)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NNS U.K. Holdings 1 LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2477818

  	
   

  	
  No

  
	
  NNS U.K. Holdings 2, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2477819

  	
   

  	
  No

  
	
  North CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341830

  	
   

  	
  No

  
	
  North CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2442461

  	
   

  	
  No

  
	
  North CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341826

  	
   

  	
  No

  
	
  NTL Bromley Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292401

  	
   

  	
  No

  
	
  NTL CableComms Group, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2478255

  	
   

  	
  No

  
	
  NTL Chartwell Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362805

  	
   

  	
  No

  

 

 

	
  Exact Legal Name of the

  Pledgor

  	
   

  	
  Type of Organization

  	
   

  	
  Registered 

  Organization? 

  (Yes/No)

  	
   

  	
  Jurisdiction 

  of 

  Organization

  	
   

  	
  Pledgor’s 

  Location (for 

  purposes of NY 

  UCC § 9-307)

  	
   

  	
  Pledgor’s 

  Organization 

  Identification 

  Number (or, if it 

  has none, so 

  indicate)

  	
   

  	
  Transmitting 

  Utility? 

  (Yes/No)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Chartwell Holdings 2, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2489841

  	
   

  	
  No

  
	
  NTL North CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2352712

  	
   

  	
  No

  
	
  NTL North CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2352711

  	
   

  	
  No

  
	
  NTL Programming Subsidiary Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2312702

  	
   

  	
  No

  
	
  NTL Solent Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292413

  	
   

  	
  No

  
	
  NTL South CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362810

  	
   

  	
  No

  
	
  NTL South CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362807

  	
   

  	
  No

  
	
  NTL Surrey Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292418

  	
   

  	
  No

  
	
  NTL Sussex Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292412

  	
   

  	
  No

  
	
  NTL UK CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2494571

  	
   

  	
  No

  
	
  NTL Wessex Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292403

  	
   

  	
  No

  
	
  NTL Winston Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341828

  	
   

  	
  No

  

 

2

 

	
  Exact Legal Name of the

  Pledgor

  	
   

  	
  Type of Organization

  	
   

  	
  Registered 

  Organization? 

  (Yes/No)

  	
   

  	
  Jurisdiction 

  of 

  Organization

  	
   

  	
  Pledgor’s 

  Location (for 

  purposes of NY 

  UCC § 9-307)

  	
   

  	
  Pledgor’s 

  Organization 

  Identification 

  Number (or, if it 

  has none, so 

  indicate)

  	
   

  	
  Transmitting 

  Utility? 

  (Yes/No)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Wirral Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292402

  	
   

  	
  No

  
	
  South CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2485991

  	
   

  	
  No

  
	
  South CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2485989

  	
   

  	
  No

  
	
  South CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2491764

  	
   

  	
  No

  
	
  Winston Investors L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2462336

  	
   

  	
  No

  
	
  Chartwell Investors L.P.

  	
   

  	
  Limited Partnership

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2366169

  	
   

  	
  No

  
	
  NTL (Triangle) LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  3125387

  	
   

  	
  No

  
	
  NTL CableComms Group Limited

  	
   

  	
  Private Limited Company

  	
   

  	
  No

  	
   

  	
  UK

  	
   

  	
  UK

  	
   

  	
  03024703

  	
   

  	
  No

  
	
  NTL Winston Holdings Limited

  	
   

  	
  Private Limited Company

  	
   

  	
  No

  	
   

  	
  UK

  	
   

  	
  UK

  	
   

  	
  03290821

  	
   

  	
  No

  
	
  NTL Chartwell Holdings Limited

  	
   

  	
  Private Limited Company

  	
   

  	
  No

  	
   

  	
  UK

  	
   

  	
  UK

  	
   

  	
  03290823

  	
   

  	
  No

  
	
  Virgin Media Limited

  	
   

  	
  Private Limited Company

  	
   

  	
  No

  	
   

  	
  UK

  	
   

  	
  UK

  	
   

  	
  02591237

  	
   

  	
  No

  

 

3

 

ANNEX
B

to

PLEDGE
AGREEMENT

 

SCHEDULE OF STOCK

 

1.             NTL UK CableComms Holdings, Inc.

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NNS U.K. Holdings
  2, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Bromley Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL North CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL North CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Programming Subsidiary
  Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Solent Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  12

  	
   

  	
  0.0001

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms Management, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  18

  	
   

  	
  0.0001

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Surrey Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

 

	
  NTL Sussex Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Wessex Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Wirral Company

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

2.             NTL CableComms Group Limited

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

   Shares

  	
   

  	
  Number of
  Shares

  	
   

  	
  Certificate
  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL CableComms
  Group, Inc.

  	
   

  	
  Common

  	
   

  	
  2,900

  	
   

  	
  01/02

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Chartwell
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL UK CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  100

  	
   

  	
  1, 3, 12

  	
   

  	
  90

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Winston
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

2

 

	
  South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  3

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

3.             NTL Solent Company

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  41,635

  	
   

  	
  7

  	
   

  	
  41.63

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  80,861

  	
   

  	
  7 & 13

  	
   

  	
  37.60

  	
  %

  	
  (i)

  	
   

  

 

4.             NTL Sussex Company

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  25,387

  	
   

  	
  10

  	
   

  	
  25.39

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  51,208

  	
   

  	
  8 & 15

  	
   

  	
  23.81

  	
  %

  	
  (i)

  	
   

  

 

3

 

5.             NTL Surrey Company

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  16,090

  	
   

  	
  8

  	
   

  	
  16.09

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  38,333

  	
   

  	
  10, 14 & 17

  	
   

  	
  17.82

  	
  %

  	
  (i)

  	
   

  

 

6.             NTL Chartwell Holdings, Inc.

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL Chartwell Holdings
  2, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  1

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

7.             NTL Wessex Company

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  912

  	
   

  	
  9

  	
   

  	
  0.91

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  11,279

  	
   

  	
  11 & 16

  	
   

  	
  5.25

  	
  %

  	
  (i)

  	
   

  

 

4

 

8.             NTL CableComms Group, Inc.

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL UK CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  11

  	
   

  	
  2 & 4

  	
   

  	
  10

  	
  %

  	
  (i)

  	
   

  

 

9.             NTL Bromley Company

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

   Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  15,976

  	
   

  	
  11

  	
   

  	
  15.98

  	
  %

  	
  (i)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL South CableComms
  Management, Inc.

  	
   

  	
  Common

  	
   

  	
  33,373

  	
   

  	
  9 & 12

  	
   

  	
  15.52

  	
  %

  	
  (i)

  	
   

  

 

10.           NNS U.K. Holdings 1 LLC

 

	
  Name of

  Issuing

  Corporation

  	
   

  	
  Type of

  Shares

  	
   

  	
  Number of

  Shares

  	
   

  	
  Certificate

  No.

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(b)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL UK CableComms
  Holdings, Inc.

  	
   

  	
  Common

  	
   

  	
  1

  	
   

  	
  11

  	
   

  	
  1

  	
  %

  	
  (i)

  	
   

  

 

5

 

ANNEX
C

to

PLEDGE
AGREEMENT

 

SCHEDULE OF
NOTES

 

None.

 

 

ANNEX
D

to

PLEDGE
AGREEMENT

 

SCHEDULE OF LIMITED LIABILITY
COMPANY INTERESTS

 

1.             Chartwell Investors L.P.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  75

  	
  %

  	
  (ii)

  	
   

  

 

2.             North CableComms Holdings, Inc.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  12.5

  	
  %

  	
  (ii)

  	
   

  

 

3.             North CableComms Management, Inc.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  12.5

  	
  %

  	
  (ii)

  	
   

  

 

4.             NTL Winston Holdings, Inc.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Winston
  Investors L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  20

  	
  %

  	
  (ii)

  	
   

  

 

 

5.             South CableComms Holdings, Inc.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  12.5

  	
  %

  	
  (ii)

  	
   

  

 

6.             South CableComms Management, Inc.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  12.5

  	
  %

  	
  (ii)

  	
   

  

 

7.             NTL UK CableComms Holdings, Inc.

 

	
  Name of

  Issuing

  Limited

  Liability 

  Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Numbers of

  Shares

  	
   

  	
  Certificate

  Number

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NNS
  U.K. Holdings 1 LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  2

  	
   

  	
  4

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

8.             Winston Investors L.L.C.

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  75

  	
  %

  	
  (ii)

  	
   

  

 

2

 

9.             NTL  Winston Holdings
Limited

 

	
  Name of

  Issuing Limited

  Liability Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Winston Investors L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  80

  	
  %

  	
  (ii)

  	
   

  

 

10.                                 Virgin Media Limited

 

	
  Name of

  Issuing

  Limited

  Liability 

  Company

  	
   

  	
  Type of

  Interest

  	
   

  	
  Numbers of

  Shares

  	
   

  	
  Certificate

  Number

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge

  Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  (Triangle) LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  800,000

  	
   

  	
  1

  	
   

  	
  100

  	
  %

  	
  (i)

  	
   

  

 

3

 

ANNEX
E

to

PLEDGE
AGREEMENT

 

SCHEDULE OF PARTNERSHIP INTERESTS

 

1.             NTL Chartwell Holdings, Inc.

 

	
  Name of

  Issuing Partnership

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chartwell
  Investors L.P.

  	
   

  	
  Partnership

  	
   

  	
  43.1

  	
  %

  	
  (ii)

  	
   

  

 

2.             NTL Chartwell Holdings 2, Inc.

 

	
  Name of

  Issuing Partnership

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chartwell
  Investors L.P.

  	
   

  	
  Partnership

  	
   

  	
  36.9

  	
  %

  	
  (ii)

  	
   

  

 

3.             NTL
Chartwell Holdings Limited

 

	
  Name of

  Issuing Partnership

  	
   

  	
  Type of

  Interest

  	
   

  	
  Percentage

  Owned

  	
   

  	
  Sub-clause of

  Section 3.2(a)

  of Pledge Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chartwell
  Investors L.P.

  	
   

  	
  Partnership

  	
   

  	
  20

  	
  %

  	
  (ii)

  	
   

  

 

 

ANNEX
F

to

PLEDGE
AGREEMENT

 

SCHEDULE OF CHIEF EXECUTIVE
OFFICES

 

	
  Name of Pledgor

  	
   

  	
  Address(es) of Chief Executive Office

  
	
   

  	
   

  	
   

  
	
  NNS U.K. Holdings 1 LLC

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NNS U.K. Holdings 2, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  North CableComms Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  North CableComms L.L.C.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  North CableComms Management, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Bromley Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL CableComms Group, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Chartwell Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Chartwell Holdings 2, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL North CableComms Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL North CableComms Management, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Programming Subsidiary Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Solent Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL South CableComms Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL South CableComms Management, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Surrey Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  

 

 

	
  Name of Pledgor

  	
   

  	
  Address(es) of Chief Executive Office

  
	
   

  	
   

  	
   

  
	
  NTL Sussex Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL UK CableComms Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Wessex Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Winston Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Wirral Company

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  South CableComms Holdings, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  South CableComms Management, Inc.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  South CableComms L.L.C.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  Winston Investors L.L.C.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  Chartwell Investors L.P.

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL (Triangle) LLC

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL CableComms Group Limited

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Winston Holdings Limited

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  NTL Chartwell Holdings Limited

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  
	
  Virgin Media Limited

  	
   

  	
  160 Great Portland Street,
  

  London W1W 5QA, England

  

 

2

 

ANNEX
G

to

PLEDGE
AGREEMENT

 

FORM OF AGREEMENT
REGARDING UNCERTIFICATED SECURITIES, LIMITED LIABILITY COMPANY INTERESTS AND
PARTNERSHIP INTERESTS

 

AGREEMENT (as amended, modified, restated and/or supplemented from time
to time, this “Agreement”), dated as of [                    ,
20   ], among the undersigned pledgor (the “Pledgor”),
[                    ],
not in its individual capacity but solely as Security Trustee (the “Pledgee”), and [                    ],
as the issuer of the Uncertificated Securities, Limited Liability Company
Interests and/or Partnership Interests (each as defined below) (the “Issuer”).

 

W I T N E S S E T H :

 

WHEREAS, the Pledgor, certain of its affiliates and the Pledgee have
entered into an Amended and Restated Pledge Agreement, dated as of [                    ,
20   ] (as amended, modified, restated and/or supplemented from
time to time, the “Pledge Agreement”),
under which, among other things, in order to secure the payment of the
Obligations (as defined in the Pledge Agreement), the Pledgor has or will
pledge to the Pledgee for the benefit of the Beneficiaries (as defined in the
Pledge Agreement), and grant a security interest in favor of the Pledgee for
the benefit of the Beneficiaries in, all of the right, title and interest of
the Pledgor in and to any and all [“uncertificated securities” (as defined in Section 8-102(a)(18)
of the Uniform Commercial Code, as adopted in the State of New York) (“Uncertificated Securities”)] [Partnership Interests (as
defined in the Pledge Agreement)] [Limited Liability Company Interests (as
defined in the Pledge Agreement)], from time to time issued by the Issuer,
whether now existing or hereafter from time to time acquired by the Pledgor
(with all of such [Uncertificated Securities] [Partnership Interests] [Limited
Liability Company Interests] being herein collectively called the “Issuer Pledged Interests”); and

 

WHEREAS, the Pledgor desires the Issuer to enter into this Agreement in
order to perfect the security interest of the Pledgee under the Pledge
Agreement in the Issuer Pledged Interests, to vest in the Pledgee control of
the Issuer Pledged Interests and to provide for the rights of the parties under
this Agreement;

 

NOW THEREFORE, in consideration of the premises and the mutual promises
and agreements contained herein, and for other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

 

1.  The Pledgor hereby
irrevocably authorizes and directs the Issuer, and the Issuer hereby agrees, to
comply with any and all instructions and orders originated by the Pledgee (and
its successors and assigns) regarding any and all of the Issuer Pledged
Interests without the further consent by the registered owner (including the
Pledgor), and, following its receipt of a notice from the Pledgee stating that
the Pledgee is exercising exclusive control of the Issuer Pledged Interests,
not to comply with any instructions or orders regarding any or all of the
Issuer Pledged Interests originated by any person or entity other than the
Pledgee (and its successors and assigns) or a court of competent jurisdiction.

 

 

2.  The Issuer hereby certifies
that (i) no notice of any security interest, lien or other encumbrance or
claim affecting the Issuer Pledged Interests (other than the security interest
of the Pledgee) has been received by it, and (ii) the security interest of
the Pledgee in the Issuer Pledged Interests has been registered in the books
and records of the Issuer.

 

3.  The Issuer hereby represents
and warrants that (i) the pledge by the Pledgor of, and the granting by
the Pledgor of a security interest in, the Issuer Pledged Interests to the
Pledgee, for the benefit of the Beneficiaries, does not violate the charter,
by-laws, partnership agreement, membership agreement or any other agreement
governing the Issuer or the Issuer Pledged Interests, and (ii) the Issuer
Pledged Interests consisting of capital stock of a corporation are fully paid
and nonassessable.

 

4.  All notices, statements of
accounts, reports, prospectuses, financial statements and other communications
to be sent to the Pledgor by the Issuer in respect of the Issuer will also be
sent to the Pledgee at the following address:

 

[                                ]

[                                ]

Attention:  [                             ]

Telephone No.:  [                            ]

Telecopier No.:  [                            ]

 

5.  Following its receipt of a
notice from the Pledgee stating that the Pledgee is exercising exclusive
control of the Issuer Pledged Interests and until the Pledgee shall have
delivered written notice to the Issuer that all of the Obligations (other than
contingent indemnification obligations not then due) have been paid in full and
this Agreement is terminated, the Issuer will send any and all redemptions,
distributions, interest or other payments in respect of the Issuer Pledged
Interests from the Issuer for the account of the Pledgee only by wire transfers
to such account as the Pledgee shall instruct.

 

6.  Except as expressly provided
otherwise in Sections 4 and 5, all notices, instructions, orders and
communications hereunder shall be sent or delivered by mail, telegraph, telex,
telecopy, cable or overnight courier service and all such notices and
communications shall, when mailed, telexed, telecopied, cabled or sent by
overnight courier, be effective when deposited in the mails or delivered to
overnight courier, prepaid and properly addressed for delivery on such or the
next Business Day, or sent by telex or telecopier, except that notices and
communications to the Pledgee or the Issuer shall not be effective until
received.  All notices and other
communications shall be in writing and addressed as follows:

 

(a)           if to the
Pledgor, at:

                                    

                                    

                                    

Attention:                    

Telephone No.:  

Fax No.:

(b)           if to the
Pledgee, at the address given in Section 4 hereof;

 

2

 

(c)           if to the Issuer,
at:

                                                

                                                

                                                

 

or at such other address as shall have been furnished in writing by any
person described above to the party required to give notice hereunder.  As used in this Section 6, “Business Day” means any day other than a Saturday, Sunday,
or other day in which banks in New York are authorized to remain closed.

 

7.  This Agreement shall be
binding upon the successors and assigns of the Pledgor and the Issuer and shall
inure to the benefit of and be enforceable by the Pledgee and its successors
and assigns.  This Agreement may be
executed in any number of counterparts, each of which shall be an original, but
all of which shall constitute one instrument. 
In the event that any provision of this Agreement shall prove to be
invalid or unenforceable, such provision shall be deemed to be severable from
the other provisions of this Agreement which shall remain binding on all
parties hereto.  None of the terms and
conditions of this Agreement may be changed, waived, modified or varied in any
manner whatsoever except in writing signed by the Pledgee, the Issuer and the
Pledgor.

 

8.  This Agreement shall be
governed by and construed in accordance with the laws of the State of New York,
without regard to its principles of conflict of laws.  The Issuer’s “jurisdiction” within
the meaning of the UCC and for all purposes of this Agreement shall be the
State of Delaware.

 

3

 

IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused
this Agreement to be executed by their duly elected officers duly authorized as
of the date first above written.

 

	
   

  	
  [
                                                       ],

  
	
   

  	
   

  	
  as Pledgor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [
                                                       ],

  
	
   

  	
   

  	
  not in its individual capacity but solely as Security Trustee and
  Pledgee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [
                                                       ],

  
	
   

  	
   

  	
  as the Issuer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:Exhibit 4.36

 

EXECUTION COPY

 

THE PARTIES LISTED ON THE SIGNATURE PAGES HERETO

 

as Debtors

 

and

 

DEUTSCHE BANK AG, LONDON BRANCH

 

as Security Trustee

 

 

 

AMENDED
AND RESTATED SECURITY AGREEMENT

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  1.

  	
  CONSTRUCTION;
  DEFINITIONS

  	
  2

  
	
  2.

  	
  GRANT
  OF SECURITY INTERESTS

  	
  8

  
	
  3.

  	
  SECURITY
  FOR OBLIGATIONS

  	
  10

  
	
  4.

  	
  DEBTOR
  REMAINS LIABLE

  	
  11

  
	
  5.

  	
  REPRESENTATIONS,
  WARRANTIES AND COVENANTS

  	
  11

  
	
  6.

  	
  SECURED
  PARTY APPOINTED ATTORNEY-IN-FACT

  	
  21

  
	
  7.

  	
  SECURED
  PARTY’S DUTIES OF REASONABLE CARE; INDEMNIFICATION

  	
  22

  
	
  8.

  	
  TRANSFERS
  AND OTHER LIENS

  	
  23

  
	
  9.

  	
  REMEDIES

  	
  23

  
	
  10.

  	
  LICENSE
  OF INTELLECTUAL PROPERTY

  	
  24

  
	
  11.

  	
  APPLICATION
  OF PROCEEDS

  	
  24

  
	
  12.

  	
  EXPENSES

  	
  25

  
	
  13.

  	
  TERMINATION
  OF SECURITY INTERESTS; RELEASE OF COLLATERAL

  	
  25

  
	
  14.

  	
  ADMISSIBILITY
  OF SECURITY AGREEMENT

  	
  26

  
	
  15.

  	
  NOTICES

  	
  26

  
	
  16.

  	
  WAIVERS,
  NON-EXCLUSIVE REMEDIES

  	
  26

  
	
  17.

  	
  SECURITY
  INTEREST ABSOLUTE

  	
  27

  
	
  18.

  	
  SUCCESSORS
  AND ASSIGNS

  	
  27

  
	
  19.

  	
  CHANGES
  IN WRITING

  	
  27

  
	
  20.

  	
  APPLICABLE
  LAW

  	
  27

  
	
  21.

  	
  WAIVER
  OF JURY TRIAL AND SETOFF; CONSENT TO JURISDICTION; ETC.

  	
  27

  
	
  22.

  	
  SURVIVAL

  	
  28

  
	
  23.

  	
  HEADINGS

  	
  28

  
	
  24.

  	
  COUNTERPARTS

  	
  28

  
	
  25.

  	
  FAILURE
  OR INDULGENCE NOT WAIVER; REMEDIES CUMULATIVE

  	
  29

  
	
  26.

  	
  SEVERABILITY

  	
  29

  
	
  27.

  	
  ACKNOWLEDGEMENT
  OF RECEIPT

  	
  29

  
	
  SCHEDULE
  1

  	
  LOCATIONS
  OF BOOKS AND RECORDS, CHIEF PLACE OF BUSINESS, CHIEF EXECUTIVE OFFICE

  	
   

  
	
  SCHEDULE
  2

  	
  LEGAL
  NAMES, TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A
  TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION, LOCATION AND
  ORGANIZATION IDENTIFICATION NUMBERS

  	
  38

  
	
  SCHEDULE
  3

  	
  TRADE-NAMES
  AND FICTITIOUS NAMES (PRESENT AND PAST FIVE YEARS)

  	
   

  
	
  SCHEDULE
  4

  	
  TRADEMARK
  REGISTRATIONS

  	
   

  
	
  SCHEDULE
  5

  	
  PATENTS

  	
   

  
	
  SCHEDULE
  6

  	
  COPYRIGHTS

  	
   

  
				

 

i

 

 

TABLE OF CONTENTS

 

	
  SCHEDULE 7

  	
  LICENSES

  	
   

  

 

ii

 

AMENDED
AND RESTATED SECURITY AGREEMENT, dated as of March 3,
2006 and amended and restated as of January 19, 2010

 

AMONG

 

(1)                                 The parties listed on the
signature pages hereto, each a Delaware corporation or limited liability
company (each a “Debtor” and together, “Debtors”); and

 

(2)                                 DEUTSCHE BANK AG, LONDON BRANCH (“DB”, acting in its capacity as Security Trustee (together
with any successor in such capacity, “Security Trustee”).

 

WHEREAS

 

(A)                               Virgin Media Inc., Virgin
Media Finance PLC, Virgin Media Investment Holdings Limited (formerly known as
NTL Investment Holdings Limited) (the “Company”),
Telewest Communications Network Limited, VMIH Sub Limited (formerly known as
NTLIH Sub Limited) as UK Borrowers, Virgin Media Dover LLC (formerly known as
NTL Dover LLC) as US Borrower, Deutsche Bank AG, London Branch, J.P. Morgan
plc, The Royal Bank of Scotland plc and Goldman Sachs International as
Bookrunners and as Mandated Lead Arrangers, Deutsche Bank AG, London Branch as
Facility Agent (the “Facility Agent”)
and as Security Trustee, Deutsche Bank AG, New York Branch as United States
Paying Agent for the Finance Parties (the “US Paying Agent”),
GE Corporate Banking Europe SAS as Administrative Agent, Deutsche Bank AG,
London Branch, as Original L/C Bank, the Original Guarantors as defined therein
and the Lenders as defined therein have entered into a Senior Facilities
Agreement dated  March 3, 2006 (as
amended and restated on May 22, 2006, July 10, 2006, August 10,
2006, April, 4 2007, May 15, 2008, November 10, 2008, October 30,
2009 and January 8, 2010 (as such agreement may be amended, restated,
supplemented or novated from time to time, including, without limitation, as
amended and restated in the form of the Structure 2 Senior Facilities Agreement
following delivery of a Structure Notice, the “Senior Facilities Agreement”).

 

(B)                               Virgin Media
Secured Finance PLC has agreed to issue and sell the Senior Secured Notes under
the Senior Secured Notes Indenture.

 

(C)                               by an
intercreditor deed dated March 3, 2006 as amended and restated on June 13,
2006, July 10, 2006, July 31, 2006, May 15, 2008, October 30,
2009 and January 8, 2010 (as further amended, restated, supplemented
and/or otherwise modified from time to time, the “Group Intercreditor Deed”) among the Original Senior Borrowers,
the Original Facility Agent, the Original Security Trustee, the Senior Lenders,
the Original Senior Guarantors, the Hedge Counterparties, the Intergroup
Debtors and the Intergroup Creditors (as each of those terms is defined
therein), certain banks, financial institutions and other entities have agreed
to regulate their relationship as creditors on the terms set out therein.

 

(D)                               in connection
with the Senior Facilities Agreement each Debtor and the Security Trustee
entered into a security agreement dated March 3, 2006 and amended on
December 23, 2009 (the “Original Security
Agreement”).

 

1

 

(E)                                 the Debtors and the Security Trustee desire to amend and restate the
Original Security Agreement on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the
foregoing and other benefits accruing to each Debtor, the receipt and
sufficiency of which are hereby acknowledged, each Debtor hereby makes the
following representations and warranties to the Security Trustee for the
benefit of the Beneficiaries and hereby covenants and agrees with the Security
Trustee for the benefit of the Beneficiaries as follows:

 

1.                                      CONSTRUCTION; DEFINITIONS

 

1.1                               Certain Defined Terms

 

This
Security Agreement should be read and construed subject to the terms of the
Group Intercreditor Deed.  In the event
of any inconsistency between the terms of this Security Agreement and the Group
Intercreditor Deed, the terms of the Group Intercreditor Deed shall prevail.  Unless the context otherwise requires or
unless otherwise defined in this Security Agreement, terms defined in the Group
Intercreditor Deed or (unless otherwise defined in the Group Intercreditor
Deed) the Relevant Facilities Agreement shall bear the same meaning when used
in this Security Agreement.  The
following terms, as used herein, have the meanings set forth below:

 

“Accounts” means all “accounts” (as defined in the UCC) now
owned or hereafter created or acquired by any Debtor including, without limitation,
all of the following now owned or hereafter created or acquired by such
Debtor:  (a) accounts receivable,
contract rights, book debts, notes, drafts and other obligations or
indebtedness owing to any Debtor arising from the sale, lease or exchange of
goods or other property and/or the performance of services; (b) any Debtor’s
rights in, to and under all purchase orders for goods, services or other
property; (c) any Debtor’s rights to any goods, services or other property
represented by any of the foregoing (including returned or repossessed goods
and unpaid sellers’ rights of rescission, replevin, reclamation and rights to
stoppage in transit); (d) monies due to or to become due to any
Debtor under all contracts for the sale, lease or exchange of goods or other
property and/or the performance of services (whether or not yet earned by
performance on the part of any Debtor); and (e) Proceeds of any of the
foregoing and all collateral security and guaranties of any kind given by any
person with respect to any of the foregoing.

 

“Agent” means the Facility Agent, the US
Paying Agent, the Administrative Agent and the Relevant Agent.

 

“Beneficiaries” means the First Beneficiary and the Second
Beneficiaries.

 

“Cash Collateral Account” shall mean a non-interest bearing
cash collateral account maintained with, and in the sole dominion and control
of, the Security Trustee for the benefit of the Beneficiaries.

 

“Collateral” has the meaning assigned to that term in
Section 2.

 

2

 

“Commitments” means, in
respect of a Senior Lender, its Commitment as defined in the Senior Facilities
Agreement, and in respect of any other Senior Finance Party, the aggregate of
the principal amount advanced by it that has not been repaid, in each case
under the Senior Finance Documents, and (without duplication) its uncancelled
commitment to extend further credit to the Obligors under the Senior Facilities
Documents.

 

“Copyright License” means any written agreement now or
hereafter in existence granting to any Debtor any right to use any Copyright.

 

“Copyrights” means collectively all of the following:
(a) all copyrights, rights and interests in copyrights, works protectable
by copyright, copyright registrations and copyright applications now owned or hereafter
created or acquired by any Debtor; (b) all renewals of any of the
foregoing; (c) all income, royalties, damages and payments now or
hereafter due and/or payable under any of the foregoing, including, without
limitation, damages or payments for past or future infringements of any of the
foregoing; (d) the right to sue for past, present and future infringements
of any of the foregoing; and (e) all rights corresponding to any of the
foregoing throughout the world.

 

“Designated Secured Obligations” means Financial Indebtedness
in the form of notes or other such similar instruments of any member of the
Group that is designated as “Designated Secured Obligations” by written notice
from the Company and its successors in title from time to time to the Security
Trustee, which notice will certify that the Financial Indebtedness is an
instrument for which Rule 3-16 of Regulation S-X under the Securities Act
(“Rule 3-16”) is applicable or will
become applicable upon registration of such instrument or an instrument
exchangeable for such instrument pursuant to a contractual requirement.

 

“Documents” means all “documents” (as defined in the UCC) or
other receipts covering, evidencing or representing goods now owned or
hereafter acquired by any Debtor.

 

“Enforcement Date” means the date on which, following the occurrence of an
Event of Default that is continuing, either the Relevant Agent or the Security
Trustee notifies the relevant
Debtor of the occurrence of that Event of Default, or takes, under any one or
more of the Senior Finance Documents, any of the steps it is entitled to take
by reason of the occurrence of such Event of Default.

 

“Equipment” means all “equipment” (as defined in the UCC) now
owned or hereafter acquired by any Debtor including, without limitation, all
machinery, motor vehicles, trucks, trailers, vessels, aircraft and rolling
stock and all parts thereof and all additions and accessions thereto and
replacements therefor.

 

“Event of Default” shall mean each of:

 

(i)            a Senior Default; and

 

(ii)           an event of default or termination event (however described) under any
Hedging Agreement.

 

3

 

“Excluded Charged Assets” in relation to any Designated
Secured Obligations means any shares, membership interests, partnership
interests, equity participations or other equivalent (however designated)
ownership interests (the “Ownership Interests”)
in, or other securities of, a Subsidiary of Virgin Media Inc. (excluding the
Ownership Interests in or other securities issued by Virgin Media Investments
Limited or any successor entity upon any merger, reorganization or other
restructuring effecting it) that are owned by any Debtor to the extent that
granting a security interest in such Ownership Interests or other securities
under this Security Agreement to secure such Designated Secured Obligations
would result in Rule 3-16 requiring separate financial statements of such
Subsidiary to be filed with the SEC, but (i) only to the extent necessary
to not be subject to such requirement, (ii) only for so long as such
requirement is in existence and (iii) only if no member of the Group files
or is otherwise required to file separate financial statements of such
Subsidiary with the SEC under a separate rule or regulation; provided that no Ownership Interests or securities will
constitute Excluded Charged Assets if any member of the Group takes any action
in the form of a reorganization, merger or other restructuring, a principal
purpose of which is to provide for the limitation of the grant of security
interest in any Ownership Interests or other securities pursuant to the second
proviso in Section 2.

 

“Fixtures” means all of the following now owned or hereafter
acquired by any Debtor: plant fixtures; business fixtures; other fixtures and
storage office facilities, wherever located; and all additions and accessions
thereto and replacements therefor.

 

“General Intangibles” means all “general intangibles” (as
defined in the UCC) now owned or hereafter acquired by any Debtor including,
without limitation, all right, title and interest of such Debtor in and to:
(a) all leases, licenses and contracts to which such Debtor is or may
become a party; (b) all obligations or indebtedness owing to such Debtor
(other than Accounts and Instruments) from whatever source arising;
(c) all tax refunds and pension reversions; (d) Intellectual
Property; and (e) all trade secrets and other confidential information
relating to the business of such Debtor including by way of illustration and
not limitation:  systems and techniques
for the analysis, diagnosis and correction of malfunctions of products used by
such Debtor’s customers; the names and addresses of, and credit and other
business information concerning, such Debtor’s past, present or future customers;
the prices which such Debtor obtains for its services or at which it sells
merchandise; estimating and cost procedures; profit margins; policies and
procedures pertaining to the sale and design of equipment, components, devices
and services furnished by such Debtor; information concerning suppliers of such
Debtor; and information concerning the manner of operation, business plans,
pledges, projections, and all other information of any kind or character,
whether or not reduced to writing, with respect to the conduct by such Debtor
of its business not generally known by the public.

 

“Instruments” means all “instruments”, “chattel paper” and “letters
of credit” (each as defined in the UCC) including, but not limited to,
Documentary Credits, promissory notes, drafts, bills of exchange and trade
acceptances, now owned or hereafter acquired by any Debtor.

 

“Intellectual Property” means collectively all of the
following: Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks
and Trademark Licenses.

 

4

 

“Inventory” means all “inventory” (as defined in the UCC),
now owned or hereafter acquired by any Debtor, wherever located including,
without limitation, finished goods, raw materials, work in process and other
materials and supplies (including packaging and shipping materials) used or
consumed in the manufacture or production thereof and goods which are returned
to or repossessed by any Debtor.

 

“Investment Property” means (i) all of any Debtor’s
right, title and interest in and to all present and future securities,
securities entitlement and securities accounts and (ii) all of any Debtor’s
right, title and interest in and to all present and future uncertificated
securities and certificated securities.

 

“Location” of any Debtor, means such Debtor’s “location” as
determined pursuant to Section 9-307 of the UCC.

 

“Obligations” has the meaning set forth in Section 3.

 

“Original Security Agreement” shall have the meaning set
forth in the recitals hereto.

 

“Ownership Interests” has the meaning given to such term in
the definition of “Excluded Charged Assets”.

 

“Patent License” means any written agreement now or hereafter
in existence granting to any Debtor any right to use any invention on which a
Patent is in existence.

 

“Patents” means collectively all of the following:
(a) all patents and patent applications now owned or hereafter created or
acquired by any Debtor including, without limitation, patentable inventions;
(b) the reissues, divisions, continuations, renewals, extensions and
continuations-in-part of any of the foregoing; (c) all income, royalties,
damages or payments now and hereafter due and/or payable under any of the
foregoing with respect to any of the foregoing, including, without limitation,
damages of payments for past or future infringements of any of the foregoing;
(d) the right to sue for past, present and future infringements of any of
the foregoing; and (e) all rights corresponding to any of the foregoing
throughout the world.

 

“Proceeds” means all proceeds of, and all other profits,
rentals or receipts, in whatever form, arising from the collection, sale,
lease, exchange, assignment, licensing or other disposition of, or realization
upon, any Collateral including, without limitation, all claims of any Debtor
against third parties for loss of, damage to or destruction of, or for proceeds
payable under, or unearned premiums with respect to, policies of insurance with
respect to any Collateral, and any condemnation or requisition payments with respect
to any Collateral, in each case whether now existing or hereafter arising.

 

“Relevant Facilities Agreement” means the Senior Facilities
Agreement, or, upon its repayment in full and cancellation of all undrawn
commitments thereunder, the Designated Refinancing Facilities Agreement,
provided that if upon the repayment in full and cancellation of all undrawn
commitments under the Senior Facilities Agreement there is no Designated
Refinancing Facilities Agreement, until such time that a Refinancing Facilities
Agreement has been designated as a Designated Refinancing Facilities Agreement,
the “Relevant Facilities Agreement” shall be the Senior Facilities Agreement
immediately prior to such termination, and 

 

5

 

provided
further that upon the repayment in full and cancellation of all undrawn
commitments under the Designated Refinancing Facilities Agreement, until such
time that a Refinancing Facilities Agreement has been designated as a
Designated Refinancing Facilities Agreement, the “Relevant Facilities Agreement”
shall be the Designated Refinancing Facilities Agreement immediately prior to
such termination.

 

“Registered Organization” shall have the meaning provided in
the UCC.

 

“Rule 3-16” has the meaning given to
such term in the definition of “Designated Secured Obligations”.

 

“SEC” means the United States Securities and Exchange
Commission.

 

“Secured
Obligations” means the Security Trustee Liabilities, the Senior
Liabilities and the Hedging Liabilities, provided that any liabilities that
have been designated as “New Senior Liabilities” under the Group Intercreditor
Deed or are incurred after 31 December 2009 under any Refinancing
Facilities Agreement entered into after such date,

 

(a)           in breach of the provisions of the Senior Facilities
Agreement, or upon its repayment in full and cancellation of all undrawn
commitments thereunder (unless there is no Designated Refinancing Facilities
Agreement), the Designated Refinancing Facilities Agreement, or any Refinancing
Facilities Agreement on the date of such designation (excluding any applicable
cure period), or

 

(b)           that the Security Trustee, acting reasonably, has not
agreed to act as security trustee for,

 

shall
not, in any such case constitute “Secured Obligations” for the purpose of this
Security Agreement.

 

“Securities Act” means the United States Securities Act of
1933, as amended.

 

“Security Agreement” means this security agreement dated as
of the date hereof among the Parties listed on the signature pages hereto
and DB, in its capacity as Security Trustee.

 

“Security Trust Agreement”
means the security trust agreement dated 3 March 2006 and amended and
restated on or about the date of this Security Agreement between, Deutsche Bank
AG, London Branch as Security Trustee and as Facility Agent, the Company and
the companies named therein as Original Obligors.

 

“Security Interests” means the security interests granted
pursuant to Section 2, as well as all other security interests created or
assigned as additional security for the Obligations pursuant to the provisions
of this Security Agreement.

 

“Security Trustee” is Deutsche Bank AG,
London Branch.

 

“Senior Secured Notes” has the meaning given to the term “Notes”
in the Senior Secured Notes Indenture;

 

6

 

“Senior Secured Notes Documents” means the Senior Secured
Notes Indenture including the guarantees set out therein, and the Senior
Secured Notes;

 

“Senior Secured Notes Indenture” means the indenture dated on
or about the date of this Security Agreement governing the $1,000,000,000 6.50%
Senior Secured Notes due 2018 and the £875,000,000 7.00% Senior Secured Notes
due 2018, among Virgin Media Inc., the Company, Virgin Media Finance PLC,
Virgin Media Secured Finance PLC, the subsidiary guarantors named therein, The
Bank of New York Mellon, as trustee, registrar and paying agent and The Bank of
New York Mellon (Luxembourg), S.A., as Luxembourg paying agent, as amended,
restated, supplemented or otherwise modified from to time.

 

“Trademark License” means any written agreement now or
hereafter in existence granting to any Debtor any right to use any Trademark.

 

“Trademarks” means collectively all of the following now
owned or hereafter created or acquired by any Debtor: (a) all trademarks,
trade names, corporate names, company names, business names, fictitious
business names, trade styles, service marks, logos, other business identifiers,
prints and labels on which any of the foregoing have appeared or appear, all registrations
and recordings thereof, and all applications in connection therewith including
registrations, recordings and applications in the United States Patent and
Trademark Office or in any similar office or agency of the United States of
America, any State thereof or any other country or any political subdivision
thereof; (b) all reissues, extensions or renewals thereof; (c) all
income, royalties, damages and payments now or hereafter due and/or payable
under any of the foregoing or with respect to any of the foregoing including
damages or payments for past or future infringements of any of the foregoing;
(d) the right to sue for past, present and future infringements of any of
the foregoing; (e) all rights corresponding to any of the foregoing throughout
the world; and (f) all goodwill associated with and symbolized by any of
the foregoing.

 

“Transmitting Utility” has the meaning given such term in Section 9-102(a)(80)
of the UCC.

 

“UCC” means the Uniform Commercial Code as in effect from
time to time in the State of New York, provided that
if by reason of mandatory provisions of law, the perfection or the effect of
perfection or non-perfection of the Security Interest in any Collateral or the
availability of any remedy hereunder is governed by the Uniform Commercial Code
as in effect on or after the date hereof in any other jurisdiction, “UCC” means
the Uniform Commercial Code as in effect in such other jurisdiction for
purposes of the provisions hereof relating to such perfection or effect of
perfection or non-perfection or availability of such remedy.

 

7

 

1.2          Other Definition Provisions

 

References
to “sections”, “subsections”,
“Exhibits” and “Schedules”
shall be to Sections, subsections, Exhibits and Schedules, respectively, of
this Security Agreement unless otherwise specifically provided.  Any of the terms defined in
subsection 1.1 may, unless the context otherwise requires, be used in the
singular or the plural depending on the reference.  All terms defined in the UCC and not
otherwise defined herein shall have the respective meanings therein
provided.  All references to statutes and
related regulations shall include (unless otherwise specifically provided
herein) any amendments of same and any successor statutes and regulations.

 

2.             GRANT OF SECURITY INTERESTS

 

In
order to secure the payment and performance of the Obligations, in accordance
with the terms thereof, each Debtor hereby grants to the Security Trustee for
the benefit of the Beneficiaries a continuing security interest in and to all
right, title and interest of such Debtor in the following property, whether now
owned or existing or hereafter acquired or arising and regardless of where
located (all being collectively referred to as the “Collateral”):

 

(a)           all Accounts;

 

(b)           all Inventory;

 

(c)           all General Intangibles;

 

(d)           all Documents;

 

(e)           all Instruments;

 

(f)            all Investment Property;

 

(g)           all Equipment;

 

(h)           all Fixtures;

 

(i)            all deposit accounts of such Debtor maintained with any bank or financial
institution and all claims and causes of action arising therefrom;

 

(j)            all books, records, ledger cards, files, correspondence, computer
programs, tapes, disks and related data processing software that at any time
evidence or contain information relating to any of the property described in
subparts (a) - (i) above or are otherwise necessary or helpful
in the collection thereof or realization thereon;

 

(k)           all property in the possession of the Security Trustee or any
Beneficiary;

 

(l)            without limitation of clause (e), all collateral security therefor
from time to time, all guarantees thereof and any and all rights and remedies
of such Debtor thereunder (including, without limitation, the right to make
demand and receive payments 

 

8

 

thereunder), and all claims
for money due and to become due to such Debtor thereunder; and

 

(m)          all Proceeds of all or any of the property described in subparts
(a) - (l) above;

 

provided, however, in no event shall the Collateral include, and no
Debtor shall be deemed to have granted a security interest in, any of such
Debtor’s right, title or interest in:  (i) any
Intellectual Property if the grant of such security interest shall constitute
or result in the abandonment, invalidation or rendering unenforceable any
right, title or interest of any Debtor therein, or breach or termination
pursuant to the terms of, or a default under, any Intellectual Property or the
violation of any applicable law; (ii) any General Intangible or Equipment
if the grant of such security interest (x) shall be prohibited by any
contract, agreement, instrument or indenture governing such General Intangible
or relating to such Equipment, (y) would give any other party to such
contract, agreement, instrument or indenture the right to terminate its
obligations thereunder or (z) is permitted only with the consent of
another party, and such consent has not been obtained or (iii) any assets
of any Debtor to the extent that such grant of security interest would violate
applicable law or governmental regulation; in each cause of clauses (i) and
(ii), other than to the extent any such term is rendered ineffective by §§
9-406 to 9-409 of the UCC;

 

provided
further, however,  that
notwithstanding the foregoing, in no event shall the Debtors be required to
grant to the Security Trustee a security interest in any Excluded Charged
Assets under this Security Agreement to secure the Designated Secured
Obligations.  For the avoidance of doubt,

 

(i)            all Collateral that does not constitute Excluded
Charged Assets remains subject to the lien granted pursuant to this Security
Agreement to secure all Secured Obligations, including without limitation the
Designated Secured Obligations; and

 

(ii)           such Excluded Charged Assets remain subject to the
lien granted under this Section 2 to secure any Secured Obligations that
are not Designated Secured Obligations.

 

In
the event that Rule 3-16 is amended, modified or interpreted by the SEC to
require (or is replaced with another rule or regulation, or any other law,
rule or regulation is adopted, which would require) the filing with the
SEC (or any other United States federal or state governmental agency) of
separate financial statements of any such Subsidiary due to the fact that such
Subsidiary’s Ownership Interests or other securities secure any Designated
Secured Obligations, then such Ownership Interests or other securities (as
applicable) of such Subsidiary shall automatically be deemed to be Excluded
Charged Assets for such Designated Secured Obligations but (i) only to the
extent necessary to not be subject to any such financial statement requirement,
(ii) only for so long as such financial statement requirement would
otherwise have been applicable to such Subsidiary and (iii) only if no member
of the Group files or is otherwise required to file separate financial
statements of such Subsidiary with the SEC or such other governmental agency
under a separate rule or regulation. If the circumstances described in
this paragraph apply, this Security Agreement may be amended or modified,
without the consent of any Senior Finance Party, to the extent necessary to
release the lien (but only to the extent 

 

9

 

securing
such Designated Secured Obligations and without prejudice to the security
interest securing the Secured Obligations referred to in clause (ii) of
the preceding paragraph) in favor of the Security Trustee on the relevant
Ownership Interests and/or other securities that are so deemed to constitute
Excluded Charged Assets.

 

In
the event that Rule 3-16 is amended, modified or interpreted by the SEC to
permit (or is replaced with another rule or regulation, or any other law, rule or
regulation is adopted, which would permit) such Subsidiary’s Ownership
Interests and/or other securities to secure any Designated Secured Obligations
in excess of the amount then secured without the filing with the SEC (or any
other United States federal or state governmental agency) of separate financial
statements of such Subsidiary, then the Ownership Interests or other securities
(as applicable) of such Subsidiary will automatically be deemed not to be
Excluded Charged Assets for such Designated Secured Obligations, but limited to
the extent necessary to not be subject to any such financial statement
requirement. If the circumstances described in this paragraph apply, this
Security Agreement may be amended or modified, without the consent of any
Senior Finance Party, to the extent necessary to grant a lien in favor of the
Security Trustee in such additional Ownership Interests or other securities
that were deemed to constitute Excluded Charged Assets.

 

The
obligations of each Debtor pursuant to this Security Agreement shall continue
to be effective or automatically be reinstated, as the case may be, if at any
time payment of any of the Obligations is rescinded or otherwise must be
restored or returned by the Security Trustee or any Beneficiary upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of such
Debtor or any other Obligor or otherwise, all as though such payment had not
been made.  If the grant, pledge, or
collateral transfer or assignment of any rights of any Debtor under any
contract included in the Collateral is expressly prohibited by such contract,
then the security interest hereby granted nonetheless remains effective to the
extent allowed by Section 9-318 of the UCC or other applicable law but is
otherwise limited by that prohibition.

 

3.             SECURITY FOR OBLIGATIONS

 

This
Security Agreement is made by each Debtor for the benefit of the Security
Trustee acting on behalf of the Beneficiaries to secure:

 

(a)           the full and prompt payment when due (whether at stated maturity, by
acceleration or otherwise) of all Secured Obligations;

 

(b)           any and all sums advanced by the Security Trustee in order to preserve
the Collateral or preserve its security interest in the Collateral;

 

(c)           in the event of any proceeding for the collection or enforcement of any
indebtedness, obligations or liabilities of such Debtor referred to in clauses (a) and
(b) above, after an Event of Default shall have occurred and be
continuing, the reasonable expenses of retaking, holding, preparing for sale or
lease, selling or otherwise disposing or realizing on the Collateral, or of any
exercise by the Security Trustee of its rights hereunder, together with
reasonable attorneys’ fees and court costs;

 

10

 

(d)           all amounts paid by any Indemnified Party as to which such Indemnified Party
has the right to reimbursement under Section 7.3 of this Security
Agreement; and

 

(e)           all amounts owing to any Agent or any of its affiliates pursuant to any
of the Senior Finance Documents in its respective capacity as such;

 

all
such obligations, liabilities, indebtedness, sums and expenses set forth in
clauses (a) through (e) of this Section 3 being herein
collectively called the “Obligations”,
it being acknowledged and agreed that the “Obligations” shall include (without
limitation) extensions of credit of the types described above, whether
outstanding on the date of this Security Agreement or extended from time to
time after the date of this Security Agreement, and (without prejudice to the
extension of the Secured Obligations to any other Indebtedness from time to
time included within the definition thereof) all Liabilities arising under or
in connection with the Senior Facilities Agreement and the Senior Secured Notes
Documents.

 

4.             DEBTOR REMAINS LIABLE

 

Anything
herein to the contrary notwithstanding: (a)  each Debtor shall remain
liable under the contracts and agreements included in the Collateral to the
extent set forth therein to perform all of its duties and obligations
thereunder to the same extent as if this Security Agreement had not been
executed; (b) the exercise by the Security Trustee or any Beneficiary of
any of the rights hereunder shall not release any Debtor from any of its duties
or obligations under the contracts and agreements included in the Collateral;
and (c) neither the Security Trustee nor any Beneficiary shall have any
obligation or liability under the contracts and agreements included in the
Collateral by reason of this Security Agreement, nor shall the Security Trustee
or any Beneficiary be obligated to perform any of the obligations or duties of
any Debtor thereunder or to take any action to collect or enforce any claim for
payment assigned hereunder.

 

5.             REPRESENTATIONS, WARRANTIES AND COVENANTS

 

Each
Debtor represents, warrants and covenants as follows:

 

5.1          Binding Obligation

 

This
Security Agreement has been duly authorized, executed and delivered by such
Debtor and is the legally valid and binding obligation of such Debtor,
enforceable against it in accordance with its terms, except as enforcement may
be limited by bankruptcy, insolvency, reorganization, moratorium, or similar
laws or equitable principles relating to or limiting creditor’s rights
generally or any other reservations as to its enforceability specified in the
legal opinion addressed to the Security Trustee and the Beneficiaries in
connection herewith on or about the date hereof.

 

5.2          Authority

 

That
it has such power, authority and legal right to pledge all the Collateral
pledged by it pursuant to this Security Agreement.

 

11

 

5.3                               Ownership of Collateral; Bailees

 

Subject
to the Existing Encumbrances and Encumbrances permitted under the Senior
Finance Documents (including, without limitation, the Security Interests), such
Debtor owns the Collateral free and clear of any Encumbrance.  As of the date hereof, no effective financing
statement or other form of lien notice covering all or any part of the
Collateral is on file in any recording office, except for those in favor of the
Security Trustee or evidencing Encumbrances permitted under the Senior Finance
Documents.

 

5.4                               Office Locations; Fictitious Names

 

As
of the date hereof, the chief place of business, the chief executive office,
the registered office and the office where such Debtor keeps its books and
records are located at the places specified on Schedule 1.  Such Debtor does not do business and has not
done business during the five years immediately preceding the date hereof under
any trade-name or fictitious business name except as disclosed on
Schedule 3.

 

5.5                               Perfection

 

This
Security Agreement creates a valid and, except for the Encumbrances permitted
under the Senior Finance Documents and the reservations referred to in Section 5.1,
a first priority security interest in the Collateral, securing the payment of
the Obligations, and all filings and other actions necessary or desirable to
perfect and protect such security interest have or will within the prescribed
registration periods been duly taken (except with regard to deposit accounts).

 

When
Uniform Commercial Code financing statements stating that the same covers “all
assets of the Debtor”, “all personal property of the Debtor” or words of
similar import shall have been filed in the relevant jurisdiction, the Security
Interests will constitute perfect security interests in all right, title and
interest of the Debtor in the Collateral to the extent that a security interest
therein may be perfected by filing pursuant to the UCC, prior to all other
liens and rights of others except for Encumbrances permitted under the Senior
Finance Documents and the reservations set forth in Section 5.1.

 

When
any applicable patent and trademark assignments have been filed with the United
States Patent and Trademark Office and any applicable copyright assignments
have been filed with the United States Copyright Office, the Security Interests
will constitute perfected security interests in all right, title and interest
of the Debtors in the United States Intellectual Property therein described to
the extent that a security interest therein may be perfected by such filing
pursuant to applicable law, prior to all other liens and rights of others
therein except for Encumbrances permitted under the Senior Finance Documents
and the reservations set forth in Section 5.1.

 

5.6                               Governmental Authorizations; Consents

 

No
authorization, approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body or, consent of any other person
(including, without limitation, any licensor of Intellectual Property) is required
either (a) for the grant by such Debtor of the security interest granted
hereby or for the execution, delivery or performance of this Security Agreement
by such Debtor or (b) for the perfection of such security interest or the
exercise by the Security 

 

12

 

Trustee
or any Beneficiary of its rights and remedies hereunder (except as may have
been taken or obtained by or at the direction of such Debtor or the absence of
which could not reasonably be expected to have a material adverse effect).

 

5.7                               Accounts

 

To
the best of the knowledge of the Debtor, each Account, with a value in excess
of $20,000 constitutes the genuine, legal, valid and binding obligation of the
customer obligated to pay the same.  The amount
represented by such Debtor as owing by each customer is the correct amount
actually and unconditionally owing, except for normal cash discounts and
allowances where applicable.  To the best
of such Debtor’s knowledge, no customer has any defense, set-off, claim or
counterclaim against such Debtor that can be asserted against the Security
Trustee or any Beneficiary, whether in any proceeding to enforce the Security
Trustee’s or any Beneficiary’s rights in the Collateral or otherwise except
defenses, set-offs, claims or counterclaims that are not, in the aggregate,
material to the value of the Accounts taken as a whole.  None of the Accounts, with a value in excess
of $200,000, is evidenced by a promissory note or other Instrument.

 

5.8                               Accurate Information

 

All
information heretofore, herein or hereafter supplied to the Security Trustee or
any Beneficiary by or on behalf of such Debtor with respect to the Collateral
is and will be accurate and complete in all material respects.

 

5.9                               Repetition

 

Each
Repeating Representation made by such Debtor is true and correct in all
material respects on the dates at which such are repeated under the Senior
Facilities Agreement, or upon its repayment in full and cancellation of all
undrawn commitments thereunder such equivalent provision in the Relevant
Facilities Agreement, and such Repeating Representations are incorporated
herein by this reference with the same effect as though set forth in their
entirety herein.

 

5.10                        No Conflicts

 

The
execution by such Debtor of this Security Agreement and the exercise by such
Debtor of its rights and the performance of its obligations hereunder
including, without limitation, granting the Security Interests will not
(i) result in the existence or imposition of any Encumbrance nor obligate
such Debtor to create any Encumbrance (other than the Security Interests and
any other Encumbrance permitted under the Senior Finance Documents) in favor of
any person over all or any of its assets, (ii) conflict in any material
respect with any agreement, mortgage, bond or other instrument to which such
Debtor is a party or which is binding upon such Debtor or any of its assets,
(iii) conflict with such Debtor’s organizational documents, or
(iv) conflict, in any material respect, with any existing applicable law,
regulation or judicial order binding on such Debtor.

 

13

 

5.11                        Provisions Regarding Intellectual Property

 

(a)                                  Title to Trademarks

 

Such
Debtor has the sole, full and clear title to the Trademarks listed on
Schedule 4 hereto for the goods and services covered by the United States
of America registrations thereof and such United States of America
registrations are valid and subsisting and in full force and effect.

 

(b)                                 Use of Trademarks

 

Except
to the extent that (i) an Instructing Party, upon prior written notice by
such Debtor, shall consent, or (ii) upon sixty (60) days’ prior written
notice to the Security Trustee, such Debtor determines in its reasonable
business judgment that a Trademark of such Debtor has negligible economic
value, such Debtor (either itself or through licensees) will continue to use
the Trademarks material to its business on each and every trademark class of
goods applicable to its current line as reflected in its current catalogs,
brochures and price lists in order to maintain the Trademarks in full force
free from any claim of abandonment of non-use and such Debtor will not (and
will not permit any licensee thereof to) do any act or knowingly omit to do any
act whereby any Trademark material to its business may become invalidated.

 

(c)                                  Title of Patents; Etc.

 

Such
Debtor has the sole, full and clear title to each of the Patents shown on
Schedule 5 hereto and to the best of such Debtor’s knowledge, the Patents
are valid and subsisting and in full force and effect.  None of the Patents has been abandoned or
dedicated, and, except to the extent that (i) an Instructing Party, upon
prior written notice by such Debtor, shall consent, or (ii) upon sixty
(60) days’ prior written notice to the Security Trustee, such Debtor determines
in its reasonable business judgment that a Patent of such Debtor has negligible
economic value, such Debtor will not do any act, or omit to do any act, whereby
the Patents material to its business may become abandoned or dedicated and
shall notify the Security Trustee immediately if it knows of any reason or has
reason to know that any application or registration may become abandoned or
dedicated.

 

(d)                                 Title to Copyrights; Etc.

 

Such
Debtor has the sole, full and clear title to the Copyrights shown on
Schedule 5 hereto and, to best of such Debtor’s knowledge, each of said
Copyrights is subsisting and in full force and effect.  None of the Copyrights has been abandoned or
dedicated, and except to the extent that such Debtor, in the exercise in good
faith of its commercially reasonable business judgment, decides that such
Copyright is no longer useful with respect to the business of such Debtor, such
Debtor will not do any act, or omit to do any act, whereby the Copyrights
material to its business may become abandoned or dedicated, or the remedies
available against potential infringers weakened, and shall notify the Security
Trustee immediately if it knows of any reason or has reason to know that any
copyright or registration may become abandoned or dedicated.

 

14

 

(e)                                  Additional Patents, Trademarks and Copyrights

 

In
no event shall such Debtor, either itself or through any agent, employee,
licensee or designee, (i) file an application for any Patent or the
registration of any Trademark or Copyright with the United States Patent and
Trademark Office, United States Copyright Office or any similar office or
agency of the United States of America or any State thereof or (ii) file
any assignment of any Patent, Trademark or Copyright which such Debtor may
acquire, own or license from a third party, with the United States Patent and
Trademark Office, United States Copyright Office or any similar office or
agency of the United States of America or any State thereof, unless such Debtor
shall, on or prior to the date of such filing, notify the Security Trustee
thereof, and, upon request of the Security Trustee, execute and deliver any and
all supplements hereto, assignments, agreements, instruments, documents and
papers as the Security Trustee may request to evidence the Security Trustee’s
security interest in such Patent, Trademark or Copyright and the goodwill and
general intangibles of such Debtor relating thereto or represented thereby.

 

(f)                                    No Additional Patents, Trademarks or Copyrights

 

As
of the date hereof, such Debtor owns no Patents, Trademarks or Copyrights and
does not have any Patents, Trademarks or Copyrights registered in, or the
subject of pending applications in, the United States Patent and Trademark
Office, United States Copyright Office or any similar office or agency in any
State of the United States of America, other than those described in
Schedules 4, 5 and 6 hereto.

 

(g)                                 Additional Further Assurances

 

Subject
to Sections 5.11(b), (c) and (d), such Debtor will take all necessary
steps in any proceeding before the United States Patent and Trademark Office,
United States Copyright Office or any similar office or agency in any State of
the United States of America, to maintain each of such Debtor’s applications
and registrations of the Trademarks, Copyrights and Patents (except for those
that are not material to such Debtor’s business), including, without
limitation, filing renewals, affidavits of use, affidavits of incontestability
and opposition, interference and cancellation proceedings.

 

(h)                                 Security Trustee and Beneficiaries Not Liable

 

Such
Debtor assumes all responsibility and liability arising from the use of the
Trademarks, and hereby indemnifies and holds the Security Trustee and each
Beneficiary harmless from and against any claim, suit, loss, damage or expense
(including reasonable attorneys’ fees) arising out of any alleged defect in any
product manufactured, promoted or sold by such Debtor (or any affiliate or
subsidiary thereof) in connection with any Trademark or out of the manufacture,
promotion, labeling, sale or advertisement of any such product by such Debtor
(or any affiliate or subsidiary thereof). 
Such Debtor agrees that neither the Security Trustee nor any Beneficiary
assumes, and neither the Security Trustee nor any Beneficiary shall have any
responsibility for, the payment of any sums due or to become due under any
agreement or contract included in the Collateral or the performance of any
obligations to be performed under or with respect to any such agreement or
contract by such Debtor, and such Debtor hereby agrees to indemnify and hold
the Security Trustee and each Beneficiary harmless with respect to any and all
claims by 

 

15

 

any
person relating thereto (save for any claim arising from the gross negligence
or willful misconduct of the Security Trustee or such Beneficiary.

 

(i)                                     Protection of Trademarks

 

Such
Debtor agrees that if it, or any of its affiliates or subsidiaries, learns of
any use by any person of any term or design likely to cause confusion with any
Trademark (except for those that are not material to such Debtor’s business),
it shall promptly notify the Security Trustee of such use and, if requested by
the Security Trustee, shall join with the Security Trustee, at such Debtor’s
expense, in such action as the Security Trustee, in its reasonable discretion,
may deem advisable for the protection of the Security Trustee’s and Beneficiaries’
interest in and to the Trademarks (except for those that are not material to
such Debtor’s business), it being understood that the foregoing shall not
preclude such Debtor from bringing an action against a person other than the
Security Trustee or the Beneficiaries for the protection of such Debtor’s
interest in and to the Trademarks).

 

(j)                                     Licenses of Trademarks, Patents and Copyrights

 

All
of such Debtor’s Patent Licenses, Trademarks Licenses, and Copyrights Licenses
are set forth in Schedule 7 hereto other than any such Patent Licenses,
Trademark Licenses and Copyright Licenses which are immaterial to the
Debtor.  Such Debtor will do all things
that are necessary and proper and within such Debtor’s power and control to
keep each of its Patent Licenses, Trademark Licenses and Copyright Licenses in
full force and effect, except (i) to the extent that such Debtor has
determined that the failure to keep such Patent License, Trademark License or
Copyright License in full force and effect shall not have a Material Adverse
Effect or (ii) for any of the foregoing which expire by their terms (as in
effect on the date hereof) or are terminable at will by a person other than
such Debtor.

 

(k)                                  Further Schedules

 

Such
Debtor shall supplement Schedules 4, 5, 6 and 7 hereto to add Patents,
Trademarks, Copyrights, Patent Licenses, Trademark Licenses and Copyright
Licenses, which such Debtor shall acquire or grant or become aware of after the
date hereof, other than any such Patent Licenses, Trademark Licenses and
Copyright Licenses which are immaterial to the Debtor, and such supplements
shall become part of such Schedules and such Debtor shall not be in breach of
any of the representations herein if such Schedules are supplemented within 60
days of a request by the Security Trustee to update such Schedules.

 

(l)                                     Supplements

 

As
requested by the Security Trustee on behalf of the Beneficiaries, such Debtor
shall execute and deliver one or more supplements in the form attached hereto
in respect of each registered United States Patent, Trademark and Copyright now
or hereafter owned by such Debtor.

 

5.12                        Other Documents and Actions

 

Such
Debtor will, from time to time, at its expense, promptly execute and deliver
all further instruments and documents and take all further action that may be
reasonably necessary or that 

 

16

 

Security
Trustee may reasonably request, in order to perfect and protect any security
interest granted or purported to be granted hereby or to enable the Security
Trustee or any Beneficiary to exercise and enforce its rights and remedies
hereunder with respect to any Collateral. 
Without limiting the generality of the foregoing, such Debtor will:
(a) execute and file such financing or continuation statements, or
amendments thereto, and such other instruments or notices, as may be necessary
or desirable, or as the Security Trustee may reasonably request, in order to
perfect and preserve the security interests granted or purported to be granted
hereby; (b) at any reasonable time, upon demand by the Security Trustee
made whilst an Event of Default is continuing exhibit the Collateral in such
Debtor’s possession or control to allow inspection of the Collateral by the
Security Trustee or persons designated by the Security Trustee; and
(c) upon the Security Trustee’s request, appear in and defend any action
or proceeding that may affect such Debtor’s title to or the Security Trustee’s
security interest in the Collateral.

 

5.13                        Security Trustee Authorized

 

Such
Debtor hereby authorizes the Security Trustee to file one or more financing or
continuation statements, and amendments thereto, relating to all or any part of
the Collateral without the signature of such Debtor to the extent permitted by
law.  A photographic or other
reproduction of this Security Agreement shall be sufficient as a financing
statement or other filing or recording document or instrument for filing or
recording in any jurisdiction.

 

5.14                        Corporate or Name Change

 

Such
Debtor will notify the Security Trustee promptly in writing prior to any change
in such Debtor’s name, identity or organizational structure.

 

5.15                        Business Locations

 

Such
Debtor will give the Security Trustee thirty (30) days prior written notice of
any change in such Debtor’s chief place of business, chief executive office or
registered office.  With respect to any
such change, such Debtor will execute such documents and take such actions as
the Security Trustee reasonably deems necessary to perfect and protect the
Security Interests in the Collateral prior to such change.

 

5.16                        Bailees

 

If
any Collateral, with a value in excess of $20,000 is at any time in the
possession or control of any warehouseman, bailee or any of such Debtor’s
agents or processors, such Debtor shall, upon the request of the Security
Trustee, (i) notify such warehouseman, bailee, agent or processor of the
Security Interests created hereby, (ii) shall instruct such person to hold
all such Collateral for the Security Trustee’s account subject to the Security
Trustee’s instructions and (iii) use its reasonable endeavors to cause
such person to enter into such agreements as to such Collateral as the Security
Trustee may reasonably request.

 

5.17                        Instruments

 

Such
Debtor will deliver and pledge to the Security Trustee on behalf of the
Beneficiaries all Instruments (other than (i) promissory notes having
individually a face value not in excess of 

 

17

 

$200,000,
(ii) Cash Equivalents held in a deposit account or a securities account
and subject to effective “control” by the Security Trustee; (iii) Instruments
or Certificated Securities received in connection with bankruptcy or
reorganization of suppliers and customers and in settlement of delinquent
obligations of, and other disputes with, customers and suppliers in the
ordinary course of business having individually a face amount of less than
$200,000 in the case of Instruments or Certificated Securities subject to this
clause (iii) and (iv) checks, drafts and similar forms of payment
received in the ordinary course of business, having individually a face amount
of less than $200,000, provided that the aggregate face amount of all
promissory notes, Instruments, Certificated Securities and checks, drafts
or similar forms of payment not delivered to the Security Trustee in reliance
on this parenthetical shall at no time exceed $1,000,000) duly endorsed or
accompanied by duly executed instruments of transfer or assignment, all in form
and substance satisfactory to the Security Trustee.  While any Event of Default is continuing,
such Debtor will mark conspicuously all chattel paper with a legend, in form
and substance reasonably satisfactory to the Security Trustee, indicating that
such chattel paper is subject to the Security Interests.

 

5.18                        Certificates of Title

 

If
requested by the Security Trustee, such Debtor shall promptly deliver to the
Security Trustee any and all certificates of title, applications for title or
similar evidence of ownership of all Equipment and shall cause the Security
Trustee to be named as lienholder on any such certificate of title or other
evidence of ownership pursuant to this Section 5.18, provided however that
such Debtor shall not be required to deliver such certificates of title,
applications for title or similar evidence of ownership with respect to any
Equipment having a value individually of less than $200,000, provided further
that the aggregate value of all such Equipment excluded from the requirements
of this Section 5.18 pursuant to the immediately preceding proviso does
not exceed $1,000,000 in the aggregate. 
Such Debtor shall promptly inform the Security Trustee of any additions
to or deletions from Equipment in excess of $200,000 and shall not permit any
such items to become fixtures to real estate other than real estate described
in any mortgages or UCC fixture filings in favor of the Security Trustee.

 

5.19                        Account Covenants

 

Except
as otherwise provided in this subsection 5.19, such Debtor shall continue
to collect, at its own expense, all amounts due or to become due such Debtor
under the Accounts, except for settlements and uncollectible Accounts in the
ordinary course of business.  Debtor may
use collection agents in this respect and may sell delinquent Accounts in the
ordinary course of business.  In
connection with such collections, such Debtor may take (and, at the Security
Trustee’s direction, shall take) such action as such Debtor may reasonably deem
necessary or advisable to enforce collection of the Accounts; provided, that the Security Trustee shall have the right at
any time after the occurrence and during the continuation of an Event of
Default to: (a) notify the customers or obligors under any Accounts of the
assignment of such Accounts to the Security Trustee and to direct such
customers or obligors to make payment of all amounts due or to become due
directly to the Security Trustee; (b) enforce collection of any such
Accounts (to the exclusion of such Debtor, except as the Security Trustee may
otherwise agree in writing); and (c) adjust, settle or compromise the
amount or payment of such Accounts. 
After the occurrence and during the continuation of an Event of Default
(i) all amounts and Proceeds 

 

18

 

(including
Instruments) received by such Debtor with respect to the Accounts shall be
received in trust for the benefit of the Security Trustee on behalf of the
Beneficiaries, shall be segregated from other funds of such Debtor and shall be
forthwith paid over to the Security Trustee in the same form as so received
(with any necessary endorsement) and (ii) such Debtor shall not adjust,
settle or compromise the amount or payment of any Account, or release wholly or
partly any customer or obligor thereof, or allow any credit or discount
thereon, other than trade discounts granted in the ordinary course of business
or with respect to immaterial Accounts, in each case, without the prior consent
of the Security Trustee.

 

5.20                        Equipment Covenants

 

Such
Debtor shall cause such Equipment as is necessary and material to the conduct
of its business to be maintained and preserved in good working order and
condition, as is necessary and material to the condition of its business,
ordinary wear and tear excepted, and shall promptly make or cause to be made
all repairs, replacements, and other improvements in connection therewith that
are necessary or desirable to such end.

 

5.21                        Insurance

 

Such
Debtor shall maintain insurance with respect to the Collateral in accordance
with the terms of the Relevant Facilities Agreement.

 

5.22                        Taxes and Claims

 

Such
Debtor will pay promptly when due all property and other taxes, assessments and
governmental charges or levies imposed upon, and all claims against, the
Collateral (including claims for labor, materials and supplies), except to the
extent the validity thereof is being contested in good faith and in any event
for which no Encumbrance has attached to any Collateral.

 

5.23                        Collateral Description

 

Such
Debtor will furnish to the Security Trustee, from time to time, statements and
Schedules further identifying and describing the Collateral and such other
reports in connection with the Collateral as the Security Trustee may
reasonably request, all in reasonable detail.

 

5.24                        Use of Collateral

 

Such
Debtor will not use or permit any Collateral to be used, sold, possessed,
dispensed or disposed of unlawfully or in violation of any provision of this
Security Agreement or where such use, sale, possession, dispensation or
disposal would have a material adverse effect on said Debtor’s business,
operations, property or condition in violation of any applicable statute,
regulation or ordinance or of any license, permit or registration of such
Debtor or any of its affiliates or subsidiaries or any policy of insurance covering
any of the Collateral.

 

19

 

5.25                        Records of Collateral

 

Such
Debtor shall keep books and records full and accurate in all material respects
relating to the Collateral and shall stamp or otherwise mark such books and
records in such manner as the Security Trustee may reasonably request
indicating that the Collateral is subject to the Security Interests.

 

5.26                        Other Information

 

Such
Debtor will, promptly upon request, provide to the Security Trustee all
information and evidence it may reasonably request concerning the Collateral,
and in particular the Accounts, to enable the Security Trustee to enforce the
provisions of this Security Agreement.

 

5.27                        Modification of Agreements, Etc.

 

Such
Debtor will not, without the prior written consent of the Security Trustee
acting on the instructions of an Instructing Party, execute any document or
instrument or take any other action of any kind which would be, or result in,
an Event of Default.

 

5.28                        Delivery of Documents, Etc.

 

Upon
the receipt of a notice from the Security Trustee the Debtor shall be required
to deliver to the Security Trustee any certificate, document, application for
title, evidence of ownership or instrument specified in subsections 5.11(e) (Additional Patents, Trademarks and Copyrights), 5.12 (Other Documents and Actions), 5.17 (Instruments)
or 5.18 (Certificates of Title) or make any
payment specified in 5.19 (Account Covenants).

 

5.29                        Legal Names; Type of Organization (and Whether a Registered
Organization and/or a Transmitting Utility); Jurisdiction of Organization;
Location; Organizational Identification Numbers; Changes Thereto; etc.

 

The
exact legal name of each Debtor, the type of organization of such Debtor,
whether or not such Debtor is a Registered Organization, the jurisdiction of
organization of such Debtor, such Debtor’s Location, the organizational
identification number (if any) of such Debtor, and whether or not such Debtor
is a Transmitting Utility, is listed on Schedule 2 hereto for such Debtor.  Such Debtor shall not change its legal name,
its type of organization, its status as a Registered Organization (in the case
of a Registered Organization), its status as a Transmitting Utility or as a
person which is not a Transmitting Utility, as the case may be, its
jurisdiction of organization, its Location, or its organizational
identification number (if any) from that used on Schedule 2 hereto, except that
any such changes shall be permitted (so long as not in violation of the
applicable requirements of the Senior Finance Documents and so long as same do
not involve (x) a Registered Organization ceasing to constitute same or (y) such
Debtor changing its jurisdiction of organization or Location from the United
States or a State thereof to a jurisdiction of organization or Location, as the
case may be, outside the United States or a State thereof) if (i) it shall
have given to the Security Trustee  not
less than 15 days’ prior written notice of each change to the information
listed on Schedule 2 (as adjusted for any subsequent changes thereto previously
made in accordance with this sentence), together with a supplement to Schedule
2 which shall correct all information contained therein for such Debtor, and (ii) in
connection with

 

20

 

the
respective such change or changes, it shall have taken all action reasonably
requested by the Security Trustee to maintain the security interests of the
Security Trustee in the Collateral intended to be granted hereby at all times
fully perfected and in full force and effect. 
In addition, to the extent that such Debtor does not have an
organizational identification number on the date hereof and later obtains one,
such Debtor shall promptly thereafter notify the Security Trustee of such
organizational identification number and shall take all actions reasonably
satisfactory to the Security Trustee to the extent necessary to maintain the
security interest of the Security Trustee in the Collateral intended to be
granted hereby fully perfected and in full force and effect.

 

5.30                        Recourse

 

This
Security Agreement is made with full recourse to each Debtor and pursuant to
and upon all the warranties, representations, covenants and agreements on the
part of such Debtor contained herein, in the Senior Finance Documents and
otherwise in writing in connection herewith or therewith.

 

6.                                      SECURED PARTY APPOINTED ATTORNEY-IN-FACT

 

Each
Debtor hereby irrevocably appoints the Security Trustee as such Debtor’s
attorney-in-fact, with full authority, upon the occurrence and during the
continuation of an Event of Default, in the place and stead of such Debtor and
in the name of such Debtor, Security Trustee or otherwise, from time to time in
the Security Trustee’s reasonable discretion to take any action and to execute
any instrument that the Security Trustee may deem necessary or advisable to
accomplish the purposes of this Security Agreement, including, without
limitation:

 

(a)                                  to obtain and adjust insurance in respect of or constituting any
Collateral;

 

(b)                                 to ask, demand, collect, sue for, recover, compound, receive and give
acquittance and receipts for moneys due and to become due under or in respect
of any of the Collateral;

 

(c)                                  to receive, endorse, and collect any drafts or other instruments,
securities, documents and chattel paper, in connection with clauses (a) and
(b) above;

 

(d)                                 to file any claims or take any action or institute any proceedings that
the Security Trustee may deem necessary or desirable for the collection of any
of the Collateral or otherwise to enforce the rights of the Security Trustee or
any Beneficiary with respect to any of the Collateral;

 

(e)                                  to pay or discharge taxes or Encumbrances, levied or placed upon or
threatened against the Collateral, the legality or validity thereof and the
amounts necessary to discharge the same to be determined by the Security
Trustee in its sole discretion, and such payments made by the Security Trustee
to become Obligations of such Debtor, due and payable immediately without
demand;

 

(f)                                    to sign and endorse any invoices, freight or express bills, bills of
lading, storage or warehouse receipts, assignments, verifications and notices
in connection with Accounts and other documents (including without limitation
financing statements, continuation

 

21

 

statements and other documents
necessary or advisable to perfect the Security Interests) relating to the
Collateral; and

 

(g)                                 generally to sell, transfer, pledge, make any agreement with respect to
or otherwise deal with any of the Collateral as fully and completely as though
the Security Trustee were the absolute owner thereof for all purposes, and to
do, at the Security Trustee’s option and such Debtor’s expense, at any time or
from time to time, all acts and things that the Security Trustee reasonably
deems necessary to protect, preserve or realize upon the Collateral.

 

Each
Debtor hereby ratifies and approves all acts of the Security Trustee made or
taken pursuant to this Section 6 (provided, that,
such Debtor does not, by virtue of such ratification, release any claim that
such Debtor may otherwise have against the Security Trustee for any such acts
made or taken by the Security Trustee through gross negligence or willful
misconduct).  Neither the Security
Trustee nor any person designated by the Security Trustee shall be liable for
any acts or omissions or for any error of judgment or mistake of fact or law,
except acts or omissions resulting from the Security Trustee’s gross negligence
or willful misconduct.  This power, being
coupled with an interest, is irrevocable so long as this Security Agreement
shall remain in force.

 

7.                                      SECURED PARTY’S DUTIES OF REASONABLE CARE; INDEMNIFICATION

 

7.1                               Beyond the safe custody thereof, the Security Trustee shall have no duty
with respect to any Collateral in its possession or control (or in the
possession or control of any agent or bailee) or with respect to any income
thereon or the preservation of rights against prior parties or any other rights
pertaining thereto.  Security Trustee
shall be deemed to have exercised reasonable care in the custody and
preservation of the Collateral in its possession if the Collateral is accorded
treatment substantially equal to that which it accords its own property.  Security Trustee shall not be liable or
responsible for any loss or damage to any of the Collateral, or for any
diminution in the value thereof, by reason of the act or omission of any
warehouseman, carrier, forwarding agency, consignee or other agent or bailee
selected by the Security Trustee in good faith.

 

7.2                               Except as hereinabove specifically set forth, the Security Trustee shall
have no further obligation to ascertain the occurrence of, or to notify any
Debtor with respect to, any matters relating to any Collateral and shall not be
deemed to assume any such further obligation as a result of the establishment
by the Security Trustee of any internal procedures with respect to any
Collateral in its possession, nor shall the Security Trustee be deemed to
assume any other responsibility for, or obligation or duty with respect to, any
Collateral, or its use, of any nature or kind, or any matter or proceedings
arising out of or relating thereto, including, without limitation, any
obligation or duty to take any action to collect, preserve or protect its or
any Debtor’s rights in the Collateral or against any prior parties thereto, but
the same shall be at any Debtor’s sole risk and responsibility at all times.

 

7.3                               Each Debtor hereby releases the Security Trustee, each Beneficiary and
their respective officers, shareholders, directors, employees and agents (each,
an “Indemnified Party”) from any claims,
causes of action and demands at any time arising out of or with respect

 

22

 

to this Security Agreement,
the Obligations, the Collateral and its use and/or any actions taken or omitted
to be taken by such Indemnified Party with respect thereto (except such claims,
causes of action and demands arising from the bad faith, gross negligence or
willful misconduct of such Indemnified Party) and such Debtor hereby agrees to
hold each Indemnified Party harmless from and with respect to any and all such
claims, causes of action and demands (except such claims, causes of action and
demands arising from the gross negligence or willful misconduct of such Indemnified
Party).

 

8.                                      TRANSFERS AND OTHER LIENS

 

8.1                               Except as otherwise permitted or not restricted by the Senior Finance
Documents, each Debtor shall not:

 

(a)                                  sell, assign (by operation of law or otherwise) or otherwise dispose of,
or grant any option with respect to, any of the Collateral, except that such
Debtor may sell Inventory in the ordinary course of business.

 

(b)                                 create or suffer to exist any Encumbrance upon or with respect to any of
the Collateral to secure indebtedness of any person except for the security
interest created by this Security Agreement and Encumbrances permitted under
the Senior Finance Documents.

 

9.                                      REMEDIES

 

(a)                                  If the Enforcement Date shall have occurred, the Security Trustee may
exercise in respect of the Collateral, in addition to all other rights and
remedies provided for herein or otherwise available to it, all the rights and
remedies of a secured party on default under the UCC (whether or not the UCC
applies to the affected Collateral) and also may: (a) require each Debtor
to, and such Debtor hereby agrees that it will, at its expense and upon request
of the Security Trustee forthwith, assemble all or part of the Collateral as
directed by the Security Trustee and make it available to the Security Trustee
at a place to be designated by the Security Trustee which is reasonably
convenient to both parties; (b) without notice or demand or legal process,
enter upon any premises of such Debtor and take possession of the Collateral;
(c) without notice except as specified below, sell the Collateral or any
part thereof in one or more parcels at public or private sale, at any of the
Security Trustee’s offices or elsewhere, at such time or times, for cash, on
credit or for future delivery, and at such price or prices and upon such other
terms as may be commercially reasonable; (d) to the exclusion of such
Debtor, make demand, collect, enforce and exercise or refrain from exercising
any and all rights and remedies of such Debtor under all Accounts, Instruments,
General Intangibles, Investment Property and other intangible Collateral (e) instruct
the obligor or obligors on any agreement, instrument or other obligation
(including, without limitation, the Accounts) constituting the Collateral to
make any payment required by the terms of such agreement, instrument or other
obligation directly to the Security Trustee and may exercise any and all
remedies of such Debtor in respect of such Collateral, (f) license or
sublicense, whether on an exclusive or nonexclusive basis, any Trademarks, Internet
domain names and associated URL addresses, Patents or Copyrights included in
the Collateral for such term and on such conditions and in such

 

23

 

manner as the Security Trustee
shall in its sole judgment determine, (g) apply any monies constituting
Collateral or proceeds thereof in accordance with the provisions of Section 11;
and (h) take any other action as specified in clauses (1) through
(5), inclusive, of Section 9-607 of the UCC.  Each Debtor agrees that, to the extent notice
of sale shall be required by law, at least ten days notice to such Debtor of
the time and place of any public sale or the time after which any private sale
is to be made shall constitute reasonable notification.  At any sale of the Collateral, if permitted
by law, the Security Trustee may bid (which bid may be, in whole or in part, in
the form of cancellation of indebtedness) for the purchase of the Collateral or
any portion thereof for the account of the Beneficiaries.  The Security Trustee shall not be obligated
to make any sale of Collateral regardless of notice of sale having been
given.  the Security Trustee may adjourn
any public or private sale from time to time by announcement at the time and
place fixed therefor, and such sale may, without further notice, be made at the
time and place to which it was so adjourned. 
To the extent permitted by law, each Debtor hereby specifically waives
all rights of redemption, stay or appraisal which it has or may have under any
law now existing or hereafter enacted.

 

10.                               LICENSE OF INTELLECTUAL PROPERTY

 

Each
Debtor hereby assigns, transfers and conveys to the Security Trustee effective
upon the occurrence and during the continuation of any Event of Default, the
nonexclusive right and license to use, to the extent permitted by the terms of
the license, all material Trademarks, Patents and Copyrights owned or used by
such Debtor together with any goodwill associated therewith, all to the extent
necessary to enable the Security Trustee to realize on the Collateral and any
successor or assign to enjoy the benefits of the Collateral.  This right and license shall inure to the
Security Trustee and its successors, assigns and transferees, whether by
voluntary conveyance, operation of law, assignment, transfer, foreclosure, deed
in lieu of foreclosure or otherwise. 
Such right and license is granted free of charge, without requirement
that any monetary payment whatsoever be made to such Debtor by the Security Trustee.

 

11.                               APPLICATION OF PROCEEDS

 

(a)                                  All monies collected by the Security Trustee upon any sale or other
disposition of the Collateral pursuant to the terms of this Security Agreement,
together with all other monies received by the Security Trustee hereunder,
shall be applied in the manner provided in the Group Intercreditor Deed and the
Security Trust Agreement.

 

(b)                                 It is understood and agreed that each Debtor shall remain jointly and
severally liable with respect to its Obligations to the extent of any
deficiency between the amount of the proceeds of the Collateral pledged by it
hereunder and the aggregate amount of such Obligations, provided that before
any demand for payment by the Security Trustee is made on any Debtor that is a
Restricted Guarantor, demand for payment of the relevant Obligation shall first
have been made on the Borrower from which such unpaid Obligation is due (if
any).

 

24

 

12.                               EXPENSES

 

Each
Debtor shall pay all insurance expenses and all reasonable expenses of
protecting, storing, warehousing, insuring, handling, maintaining and shipping
the Collateral, all reasonable costs, fees and expenses of perfecting and
maintaining the Security Interests, and any and all excise, property, sales and
use taxes imposed by any state, federal or local authority on any of the
Collateral to the extent required under the Senior Finance Document, or with
respect to the sale or other disposition thereof.  If such Debtor fails promptly to pay any
portion of the above expenses when due or to perform any other obligation of
such Debtor under this Security Agreement, the Security Trustee may, at its
option, but shall not be required to, pay or perform the same and charge such
Debtor for all costs and expenses incurred therefor, and such Debtor agrees to
reimburse the Security Trustee therefore on demand.  All sums so paid or incurred by the Security
Trustee for any of the foregoing, any and all other sums for which such Debtor
may become liable hereunder and all reasonable costs and expenses (including
reasonable attorneys’ fees, legal expenses and court costs) incurred by the
Security Trustee in enforcing or protecting the Security Interests or any of
its rights or remedies under this Security Agreement shall be payable by such
Debtor on demand, shall constitute Secured Obligations, shall bear interest
until paid at the rate applicable to the Advance under the Relevant Facilities
Agreement.

 

13.                               TERMINATION OF SECURITY INTERESTS; RELEASE OF COLLATERAL

 

(a)                                  On the Termination Date, this Security Agreement shall terminate
(provided that all indemnities set forth herein including, without limitation,
in Section 7.3 hereof shall survive any such termination) and the Security
Trustee, at the request and expense of such Debtor, will execute and deliver to
such Debtor a proper instrument or instruments acknowledging the satisfaction
and termination of this Security Agreement, and will duly release from the
security interest created hereby and assign, transfer and deliver to such
Debtor (without recourse and without any representation or warranty) such of
the Collateral as may be in the possession of the Security Trustee and as has
not theretofore been sold or otherwise applied or released pursuant to this
Security Agreement, together with any moneys at the time held by the Security
Trustee.  As used in this Security
Agreement, “Termination Date”
shall mean the date upon which the Commitments under the Senior Finance
Documents have been terminated, no Documentary Credit (as defined in the
Relevant Facilities Agreement) is outstanding (and all Advances have been paid
in full), all Documentary Credits have been terminated, and all other
Obligations (other than indemnities described in the Senior Finance Documents
which are not then due and payable) then due and payable have been paid in
full.

 

(b)                                 In the event that any part of the Collateral is sold or otherwise
disposed of to a person other than an Obligor and (x) such disposal is
permitted or not restricted under any of the Senior Finance Documents, or (y) is
otherwise released with the consent of the Instructing Party in accordance with
the terms of the Group Intercreditor Deed, and in the case of clauses (x) and
(y), the proceeds of such sale or disposition (or from such release) are
applied in accordance with the terms of the Senior Finance Documents to the
extent required to be so applied, the

 

25

 

Security
Trustee, at the request and expense of such Debtor, will duly release from the
security interest created hereby (and will execute and deliver such
documentation, including termination or partial release statements and the like
in connection therewith) and assign, transfer and deliver to such Debtor
(without recourse and without any representation or warranty) such of the
Collateral as is then being (or has been) so sold or released and as may be in
the possession of the Security Trustee and has not theretofore been released
pursuant to this Security Agreement.

 

(c)                                  At any time that any Debtor desires that Collateral be released as
provided in the foregoing Section 13(a) or (b), it shall deliver to
the Security Trustee a certificate signed by an authorized officer of such
Debtor stating that the release of the respective Collateral is permitted
pursuant to Section 13(a) or (b) hereof.  If reasonably requested by the Security
Trustee (although the Security Trustee shall have no obligation to make any
such request), such Debtor shall furnish appropriate legal opinions (from
counsel, reasonably acceptable to the Security Trustee) to the effect set forth
in the immediately preceding sentence.

 

(d)                                 The Security Trustee shall have no liability whatsoever to any other
Beneficiary as the result of any release of Collateral by it in accordance with
(or which the Security Trustee in good faith believes to be in accordance with)
this Section 13.

 

14.                               ADMISSIBILITY OF SECURITY AGREEMENT

 

Each
Debtor agrees that any copy of this Security Agreement signed by such Debtor
and transmitted by telecopier for delivery to the Security Trustee shall be
admissible in evidence as the original itself in any judicial or administrative
proceeding, whether or not the original is in existence.

 

15.                               NOTICES

 

All
notices, approvals, requests, demands and other communications hereunder shall
be given in accordance with the notice provision of the Group Intercreditor
Deed.

 

16.                               WAIVERS, NON-EXCLUSIVE REMEDIES

 

Security
Trustee’s prior recourse to any Collateral shall not constitute a condition of
any demand, suit or proceeding for payment or collection of the
Obligations.  No act, omission or delay
(other than an express written waiver) by the Security Trustee or any
Beneficiary shall constitute a waiver of its rights and remedies hereunder or
otherwise.  No single or partial waiver
by the Security Trustee or any Beneficiary of any default hereunder or right or
remedy which it may have shall operate as a waiver of any other default, right
or remedy or of the same default, right or remedy on a future occasion.

 

26

 

17.                               SECURITY INTEREST ABSOLUTE

 

All
rights of the Security Trustee and the Beneficiaries, all of the Security
Interests hereunder, and all of the obligations of each Debtor hereunder, shall
be absolute and unconditional, irrespective of:

 

(a)                                  any lack of validity, legality or enforceability of any of the Senior
Finance Documents or any other agreement or instrument relating thereto or any
provision or provisions herein or therein;

 

(b)                                 any change in the time, manner or place of payment of, or in any other
term of, all or any of the Obligations or any other amendment or waiver of or
any consent to any departure from any of the Senior Finance Documents;

 

(c)                                  any exchange, release or non-perfection of any other Collateral, or any
release or amendment or waiver of or consent to departure from any guaranty,
for all or any of the Obligations; or

 

(d)                                 any other circumstance which might otherwise constitute a defense
available to, or a discharge of, such Debtor or a third party grantor of a
security interest.

 

18.                               SUCCESSORS AND ASSIGNS

 

This
Security Agreement is for the benefit of Security Trustee and each Beneficiary
and its successors and assigns, and in the event of an assignment of all or any
of the Secured Obligations, the rights hereunder, to the extent applicable to
the Obligations so assigned, may be transferred with such Obligations.  Each Debtor may not assign its obligations
under this Security Agreement to any person. 
Subject to the foregoing, this Security Agreement shall be binding on
each Debtor and its successors and permitted assigns.

 

19.                               CHANGES IN WRITING

 

No
amendment, modification, termination or waiver of any provision of this
Security Agreement or consent to any departure by any Debtor therefrom, shall
in any event be effective without the written concurrence of the Security
Trustee acting on the instructions of an Instructing Party and such Debtor.

 

20.                               APPLICABLE LAW

 

THIS
SECURITY AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD, TO THE
FULLEST EXTENT PERMITTED BY LAW, TO ANY CONFLICT OF LAWS RULES WHICH MIGHT
RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.

 

21.                               WAIVER OF JURY TRIAL AND SETOFF; CONSENT TO JURISDICTION; ETC.

 

21.1                        In any litigation in any court with respect to, in connection with, or
arising out of this Security Agreement, the Collateral, or any other Senior
Finance Document or 

 

27

 

any
instrument or document delivered pursuant to this Security Agreement, or the
validity, protection, interpretation, collection or enforcement thereof, or any
other claim or dispute howsoever arising, between any Debtor, on the one hand
and the Beneficiaries or the Security Trustee, on the other hand, such Debtor,
to the fullest extent it may effectively do so, (i) waives the right to
interpose any setoff, recoupment, counterclaim or cross-claim in connection
with any such litigation, irrespective of the nature of such setoff, recoupment,
counterclaim or cross-claim, unless such setoff, recoupment, counterclaim or
cross-claim could not, by reason of any applicable Federal or State procedural
laws, be interposed, pleaded or alleged in any other action and
(ii) WAIVES TRIAL BY JURY IN CONNECTION WITH ANY SUCH LITIGATION.  EACH DEBTOR AGREES THAT THIS SECTION 21
IS A SPECIFIC AND MATERIAL ASPECT OF THIS SECURITY AGREEMENT AND ACKNOWLEDGES
THAT THE  BENEFICIARIES WOULD NOT EXTEND
TO ANY OBLIGORS ANY FACILITIES UNDER THE RELEVANT FACILITIES AGREEMENT OR ANY
SERIES OF LIABILITIES UNDER ANY OTHER SENIOR FINANCE DOCUMENT IF THIS SECTION 21
WERE NOT PART OF THIS SECURITY AGREEMENT.

 

21.2                        Each Debtor hereby irrevocably consents to the jurisdiction of the
courts of the State of New York and of any Federal Court located in the State
of New York, in connection with any action or proceeding arising out of or
relating to this Security Agreement, the Collateral, or any other Senior
Finance Document or any document or instrument delivered pursuant to this Security
Agreement.  In any such litigation, each
Debtor waives, to the fullest extent it may effectively do so, personal service
of any summons, complaint or other process and agrees that the service thereof
may be made by certified or registered mail directed to such Debtor at its
address set forth below its signature herein. 
Each Debtor hereby waives, to the fullest extent it may effectively do
so, the defenses of forum non conveniens and improper venue.

 

22.                               SURVIVAL

 

All
representations and warranties of any Debtor contained in this Security
Agreement shall survive the making, execution and delivery of this Security
Agreement.

 

23.                               HEADINGS

 

Section and
subsection headings in this Security Agreement are included herein for
convenience of reference only and shall not constitute a part of this Security
Agreement for any other purpose or be given any substantive effect.

 

24.                               COUNTERPARTS

 

This
Security Agreement may be executed in any number of counterparts, all of which
taken together shall constitute one and the same instrument and any of the
parties hereto may execute this Security Agreement by signing any such
counterpart.

 

28

 

25.                               FAILURE OR INDULGENCE NOT WAIVER; REMEDIES CUMULATIVE

 

No
failure or delay on the part of the Security Trustee or any Beneficiary in the
exercise of any power, right or privilege hereunder shall impair such power,
right or privilege or be construed to be a waiver of any default or
acquiescence therein, nor shall any single or partial exercise of any such
power, right or privilege preclude other or further exercise thereof or any
other right, power or privilege.  All
rights and remedies existing under this Security Agreement are cumulative to,
and not exclusive of, any rights or remedies otherwise available.

 

26.                               SEVERABILITY

 

If
any term of this Security Agreement shall be held to be invalid, illegal or
unenforceable, the validity of all other terms hereof shall in no way be
affected thereby.

 

27.                               ACKNOWLEDGEMENT OF RECEIPT

 

Each
Debtor acknowledges receipt of a copy of this Security Agreement.

 

28.                               AMENDMENT AND RESTATEMENT

 

This
Security Agreement shall amend and restate in its entirety the Original
Security Agreement, and all obligations of the Debtors thereunder shall be
deemed replaced and extended as obligations under this Security Agreement and
be governed hereby without novation.  In
no event shall such amendment and restatement be construed as a termination of
the obligations under the Original Security Agreement.

 

[Remainder of this page intentionally left blank; signature pages follow]

 

29

 

IN WITNESS WHEREOF,
the parties hereto have duly executed and delivered this Security Agreement as
of the date first written above.

 

NNS
U.K. HOLDINGS 1 LLC

 

 

	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
  NNS U.K. HOLDINGS 2, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NORTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
  NORTH CABLECOMMS L.L.C.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
  NORTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  

 

 

	
  NTL BROMLEY COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
  NTL CABLECOMMS GROUP, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
  NTL CHARTWELL
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL CHARTWELL HOLDINGS
  2, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL NORTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  

 

 

	
  NTL NORTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL PROGRAMMING SUBSIDIARY
  COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL SOLENT COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL SOUTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL SOUTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  

 

 

	
  NTL SURREY COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL SUSSEX COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL UK CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
  NTL WESSEX COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL WINSTON HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  

 

 

	
  NTL WIRRAL COMPANY

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOUTH CABLECOMMS
  HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOUTH CABLECOMMS
  MANAGEMENT, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SOUTH CABLECOMMS L.L.C.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  WINSTON INVESTORS L.L.C.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  

 

 

	
  CHARTWELL INVESTORS L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  Its General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NTL Chartwell Holdings
  Limited

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Its
  Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Virgin
  Media Directors Limited

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
   

  	
   

  	
  Name: Robert Gale

  	
   

  
	
   

  	
   

  	
  Title: Director

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  NTL (TRIANGLE) LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  ROBERT GALE

  	
   

  
	
  Name: Robert Gale

  	
   

  
	
  Title: Vice President

  	
   

  
						

 

 

	
  Accepted and Agreed:

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE BANK AG, LONDON BRANCH

  	
   

  
	
   

  	
   

  	
   

  
	
  as Security Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  N. DAWES

  	
   

  
	
  Name: N. Dawes

  	
   

  
	
  Title: V.P.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  V. MAYELL

  	
   

  
	
  Name: V. Mayell

  	
   

  
	
  Title: A.V.P.

  	
   

  

 

 

SCHEDULE
1

 

LOCATIONS
OF BOOKS AND RECORDS, CHIEF PLACE OF BUSINESS, CHIEF EXECUTIVE OFFICE

 

	
  Chief
  Executive Office:

  	
  c/o
  Virgin Media Limited

  	
   

  
	
   

  	
  160
  Great Portland Street

  	
   

  
	
   

  	
  London
  W1W 5QA

  	
   

  
	
   

  	
   

  	
   

  
	
  Chief
  Place of Business:

  	
  c/o
  Virgin Media Limited

  	
   

  
	
   

  	
  160
  Great Portland Street

  	
   

  
	
   

  	
  London
  W1W 5QA

  	
   

  
	
   

  	
   

  	
   

  
	
  Telephone:

  	
  020
  7299 5000

  	
   

  
	
   

  	
   

  	
   

  
	
  Locations of Equipment, Inventory, Books and
  Records, Other locations:

  	
   

  
	
   

  	
   

  	
   

  
	
  Books and Records:

  	
  c/o
  Virgin Media Limited

  	
   

  
	
   

  	
  160
  Great Portland Street

  	
   

  
	
   

  	
  London
  W1W 5QA

  	
   

  

 

 

SCHEDULE
2

 

LEGAL
NAMES, TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A
TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION, LOCATION AND ORGANIZATION
IDENTIFICATION NUMBERS

 

	
  Exact
  Legal Name

  of the Debtor

  	
   

  	
  Type of

  Organization

  	
   

  	
  Registered

  Organization?

  (Yes/No)

  	
   

  	
  Jurisdiction of

  Organization

  	
   

  	
  Debtor’s

  Location (for

  purposes of NY

  UCC § 9-307)

  	
   

  	
  Debtor’s

  Organization

  Identification

  Number (or, if it

  has none, so

  indicate)

  	
   

  	
  Transmitting

  Utility?

  (Yes/No)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NNS
  U.K. Holdings 1 LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2477818

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NNS
  U.K. Holdings 2, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2477819

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341830

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2442461

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  North
  CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341826

  	
   

  	
  No

  

 

38

 

	
  NTL
  Bromley Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292401

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  CableComms Group, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2478255

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Chartwell Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362805

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Chartwell Holdings 2, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2489841

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  North CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2352712

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  North CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2352711

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Programming Subsidiary Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2312702

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Solent Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292413

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  South CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362810

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  South CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2362807

  	
   

  	
  No

  

 

 

	
  NTL
  Surrey Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292418

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Sussex Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292412

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  UK CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2494571

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Wessex Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292403

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Winston Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2341828

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NTL
  Wirral Company

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2292402

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2485991

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms Management, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2485989

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  South
  CableComms L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2491764

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Winston
  Investors L.L.C.

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2462336

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chartwell
  Investors L.P.

  	
   

  	
  Limited Partnership

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  2366169

  	
   

  	
  No

  

 

 

	
  NTL
  (Triangle) LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  Yes

  	
   

  	
  Delaware

  	
   

  	
  Delaware

  	
   

  	
  3125387

  	
   

  	
  No

  

 

 

SCHEDULE
3

 

TRADE-NAMES
AND FICTITIOUS NAMES

(PRESENT AND PAST FIVE YEARS)

 

None.

 

 

SCHEDULE
4

 

TRADEMARK
REGISTRATIONS

 

None.

 

 

SCHEDULE
5

 

PATENTS

 

None.

 

 

SCHEDULE
6

 

COPYRIGHTS

 

None.

 

 

SCHEDULE
7

 

LICENSES

 

None.

 

 

SUPPLEMENT TO AMENDED AND RESTATED SECURITY AGREEMENT

 

(PATENTS)

 

WHEREAS, [          ], a Delaware
corporation (herein referred to as “Debtor”), whose
address is [          ], owns
the letters patent, and/or applications for letters patent, of the United
States of America, more particularly described on Schedule 1-A annexed
hereto as part hereof (the “Patents”);

 

WHEREAS,  Virgin Media
Inc., Virgin Media Finance PLC, Virgin Media Investment Holdings Limited
(formerly known as NTL Investment Holdings Limited), Telewest Communications
Network Limited, VMIH Sub Limited (formerly known as NTLIH Sub Limited), and
Virgin Media Dover LLC (formerly known as NTL Dover LLC), as Borrowers,
Deutsche Bank AG, London Branch, J.P. Morgan plc, The Royal Bank of Scotland
plc and Goldman Sachs International, as Bookrunners and as Mandated Lead
Arrangers, Deutsche Bank AG, London Branch as Facility Agent and as Security
Trustee, Deutsche Bank AG, New York Branch, as US Paying Agent, GE Corporate
Banking Europe SAS, as Administrative Agent, Deutsche Bank AG, London Branch,
as Original L/C Bank and the persons named therein as Lenders have entered into
a Senior Facilities Agreement dated 3 March 2006 (as such agreement may be
modified, supplemented, amended or restated from time to time (the “Senior Facilities Agreement”).  Pursuant to a Security Trust Agreement dated March 3,
2006 and amended and restated as of
[                            ],
2010, the Security Trustee has been appointed and is serving as trustee for the
Beneficiaries, as defined therein;

 

WHEREAS,  Debtor has
entered into an Amended and Restated Security Agreement (said Agreement, as it
may hereafter be amended or otherwise modified from time to time being the “Security Agreement”, the terms defined therein and not
otherwise defined herein being used herein as therein defined) in favor of the
Security Trustee for the benefit of the Beneficiaries.  It is a requirement of the Relevant
Facilities Agreement that Debtor execute and deliver the Security Agreement;
and

 

WHEREAS, pursuant to the Security Agreement, Debtor has
granted to the Security Trustee for the benefit of the Beneficiaries a security
interest in all right, title and interest of Debtor in and to the Patents,
together with all registrations and recordings thereof, including, without
limitation, applications, registrations and recordings in the United States
Patent and Trademark Office or in any similar office or agency of the United
States of America, any State thereof or any other country or any political
subdivision thereof, all whether now or hereafter owned or licensable by
Debtor, and all reissues, continuations, continuations-in-part, term
restorations or extensions thereof and all proceeds thereof, including, without
limitation, any claims by Debtor against third parties for infringement thereof
for the full term of the Patents (the “Collateral”),
to secure the prompt payment, performance and observance of the Obligations (as
defined in the Security Agreement);

 

NOW, THEREFORE, for good and valuable consideration,
receipt of which is hereby acknowledged, Debtor does hereby further confirm,
and put on the public record, its grant to the Security Trustee for the benefit
of the Beneficiaries a security interest in the Collateral to secure the prompt
payment, performance and observance of the Obligations.

 

 

Debtor
does hereby further acknowledge and affirm that the rights and remedies of the
Security Trustee with respect to the grant of and security interest in the
Collateral made hereby are more fully set forth in the Security Agreement, the
terms and provisions of which are hereby incorporated herein by reference as if
fully set forth herein.

 

Security
Trustee’s address is

 

Address:

 

 

Attention:

Fax:

 

 

IN WITNESS WHEREOF,  Debtor
has duly executed or caused this Supplement to Amended and Restated Security
Agreement to be duly executed as of the
[          ],
20    .

 

[          ]

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

	
  STATE
  OF

  	
  )

  
	
   

  	
   

  
	
   

  	
  )
   :

  
	
   

  	
   

  
	
  COUNTY
  OF

  	
  )

  

 

On
this          day of
                      ,
20    , before me personally appeared
                              ,
to me known, who, being by me duly sworn, did depose and say that he/she
resides at
                                                    
and that he/she is
                            
of Debtor; that he/she knows the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was affixed pursuant
to authority of the Board of Directors of said corporation and that he/she
signed his/her name thereto in his/her capacity as an authorized officer of
said corporation pursuant to such authority.

 

 

Notary Public

 

 

Schedule 1-A to the SUPPLEMENT TO AMENDED AND RESTATED SECURITY
AGREEMENT

 

PATENTS

 

	
  Title

  	
   

  	
  Date Filed or Granted

  	
   

  	
  Serial No. or Patent No.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

SUPPLEMENT TO AMENDED AND RESTATED SECURITY AGREEMENT

 

(TRADEMARKS)

 

WHEREAS, [          ], a Delaware
corporation (herein referred to as “Debtor”),
having an address at
[          ], (1) has
adopted, used and is using, or (2) has intended to use and filed an
application indicating that intention, but has not yet filed an allegation of
use under Section l(c) or l(d) of the Trademark Act, or (3) has filed an
application based on an intention to use and has since used and has filed an
allegation of use under [Section l(c) or l(d)] of the Trademark Act, the
trademarks, trade names, trade styles and service marks listed on the annexed
Schedule 2-A, which trademarks, trade names, trade styles and service
marks are registered in the United States Patent and Trademark Office (the “Trademarks”); and

 

WHEREAS,  Virgin Media
Inc., Virgin Media Finance PLC, Virgin Media Investment Holdings Limited
(formerly known as NTL Investment Holdings Limited), Telewest Communications
Network Limited, VMIH Sub Limited (formerly known as NTLIH Sub Limited), and
Virgin Media Dover LLC (formerly known as NTL Dover LLC), as Borrowers,
Deutsche Bank AG, London Branch, J.P. Morgan plc, The Royal Bank of Scotland
plc and Goldman Sachs International, as Bookrunners and as Mandated Lead Arrangers,
Deutsche Bank AG, London Branch as Facility Agent and as Security Trustee,
Deutsche Bank AG, New York Branch, as US Paying Agent, GE Corporate Banking
Europe SAS, as Administrative Agent, Deutsche Bank AG, London Branch, as
Original L/C Bank and the persons named therein as Lenders have entered into a
Senior Facilities Agreement dated 3 March 2006 (as such agreement may be
modified, supplemented, amended or restated from time to time (the “Senior Facilities Agreement”).  Pursuant to a Security Trust Agreement dated
March 3, 2006 and amended and restated as of
[                            ],
2010, the Security Trustee has been appointed and is serving as trustee for the
Beneficiaries, as defined therein;

 

WHEREAS, Debtor has entered into an Amended and Restated
Security Agreement (said Agreement, as it may hereafter be amended or otherwise
modified from time to time being the “Security Agreement”,
the terms defined therein and not otherwise defined herein being used herein as
therein defined) in favor of the Security Trustee for the benefit of the
Beneficiaries.  It is a requirement of
the Relevant Facilities Agreement that Debtor execute and deliver the Security
Agreement; and

 

WHEREAS, pursuant to the Security Agreement, Debtor has
granted to Security Trustee for the benefit of the Beneficiaries a security
interest in all right, title and interest of Debtor in and to the Trademarks,
together with all prints and labels on which said Trademarks have appeared or
appear, designs and general intangibles of like nature, now existing or
hereafter adopted or acquired, and the goodwill of the business symbolized by
the Trademarks and the applications, registrations and recordings in the United
States Patent and Trademark Office or in any similar office or agency of the
United States of America, any State thereof, or any other country or any
political subdivision thereof, all whether now or hereafter owned or licensable
by Debtor, and all reissues, extensions or renewals thereof and all proceeds
thereof, including, without limitation, any claims by Debtor against third
parties for infringement thereof (the “Collateral”),
to secure the payment, performance and observance of the Obligations (as
defined in the Security Agreement);

 

 

NOW, THEREFORE, for good and valuable consideration,
receipt of which is hereby acknowledged, Debtor does hereby further confirm,
and put on the public record, its grant to the Security Trustee for the benefit
of the Beneficiaries a security interest in the Collateral to secure the prompt
payment, performance and observance of the 
Obligations.

 

Debtor
does hereby further acknowledge and affirm that the rights and remedies of the
Security Trustee with respect to the grant of, security interest in and
mortgage on the Collateral made hereby are more fully set forth in the Security
Agreement; the terms and provisions of which are hereby incorporated herein by
reference as if fully set forth herein.

 

The
Security Trustee’s address is:

 

Address:

 

 

Attention:

Fax:

 

 

IN WITNESS WHEREOF,  Debtor
has duly executed or caused this Supplement to Amended and Restated Security
Agreement to be duly executed as of
[          ],
20    .

 

[          ]

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

	
  STATE
  OF

  	
  )

  
	
   

  	
   

  
	
   

  	
  )  :

  
	
   

  	
   

  
	
  COUNTY
  OF

  	
  )

  

 

On
this          day of
                  ,
20    , before me personally appeared
                        ,
to me known, who, being by me duly sworn, did depose and say that he/she
resides at                                                 
and that he/she is
                          
of Debtor; that he/she knows the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was affixed pursuant
to authority of the Board of Directors of said corporation and that he/she
signed his/her name thereto in his/her capacity as an authorized officer of
said corporation pursuant to such authority.

 

 

Notary Public

 

 

Schedule 2-A to the SUPPLEMENT TO AMENDED AND RESTATED SECURITY
AGREEMENT

 

TRADEMARKS

 

	
  Trademark

  	
   

  	
  Application or

  Registration Date

  	
   

  	
  Application Serial No.

  or Registration No.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

SUPPLEMENT TO AMENDED AND RESTATED SECURITY AGREEMENT

 

(COPYRIGHTS)

 

WHEREAS, [          ], a
[          ] corporation
(herein referred to as “Debtor”),
having an address at
[          ] has adopted, used
and is using the copyrights listed on the annexed Schedule 3-A, which
copyrights are registered in the United States Copyright Office (the “Copyrights”);

 

WHEREAS,  Virgin Media
Inc., Virgin Media Finance PLC, Virgin Media Investment Holdings Limited (formerly
known as NTL Investment Holdings Limited), Telewest Communications Network
Limited, VMIH Sub Limited (formerly known as NTLIH Sub Limited), and Virgin
Media Dover LLC (formerly known as NTL Dover LLC), as Borrowers, Deutsche Bank
AG, London Branch, J.P. Morgan plc, The Royal Bank of Scotland plc and Goldman
Sachs International, as Bookrunners and as Mandated Lead Arrangers, Deutsche
Bank AG, London Branch as Facility Agent and as Security Trustee, Deutsche Bank
AG, New York Branch, as US Paying Agent, GE Corporate Banking Europe SAS, as
Administrative Agent, Deutsche Bank AG, London Branch, as Original L/C Bank and
the persons named therein as Lenders have entered into a Senior Facilities
Agreement dated 3 March 2006 (as such agreement may be modified, supplemented,
amended or restated from time to time (the “Senior
Facilities Agreement”). 
Pursuant to a Security Trust Agreement dated March 3, 2006 and amended
and restated as of
[                            ],
2010, the Security Trustee has been appointed and is serving as trustee for the
Beneficiaries, as defined therein;

 

WHEREAS, Debtor has entered into an Amended and Restated
Security Agreement (said Agreement, as it may hereafter be amended or otherwise
modified from time to time being the “Security Agreement”,
the terms defined therein and not otherwise defined herein being used herein as
therein defined) in favor of the Security Trustee for the benefit of the
Beneficiaries.  It is a requirement of
the Relevant Facilities Agreement that Debtor execute and deliver the Security
Agreement; and

 

WHEREAS,  pursuant to
the Security Agreement, Debtor has granted to the Security Trustee for the
benefit of the Beneficiaries a security interest in all right, title and
interest of Debtor in and to the Copyrights, and the registrations and
recordings thereof in the United States Copyright Office or any other country
or any political subdivision thereof, all whether now or hereafter owned or
licensable by Debtor and all extensions or renewals thereof and all licenses
thereof and all proceeds thereof, including, without limitation, any claims by
Debtor against third parties for infringement thereof (the “Collateral”), to secure the payment, performance and
observance of the Obligations (as defined in the Security Agreement);

 

NOW, THEREFORE, for good and valuable consideration,
receipt of which is hereby acknowledged, Debtor does hereby further confirm,
and put on the public record, its grant to the Security Trustee for the benefit
of the Beneficiaries a security interest in, and mortgage on, the Collateral to
secure the prompt payment, performance and observance of the Obligations.

 

Debtor
does hereby further acknowledge and affirm that the rights and remedies of the
Security Trustee with respect to the grant assignment of and security interest
in the Collateral made 

 

 

hereby
are more fully set forth in the Security Agreement, the terms and provisions of
which are hereby incorporated herein by reference as if fully set forth herein.

 

the
Security Trustee’s address is:

 

Address:

 

 

Attention:

Fax:

 

 

IN WITNESS WHEREOF,  Debtor
has duly executed or caused this Supplement to Amended and Restated Security
Agreement to be duly executed as of
[          ],
20    .

 

 

[          ]

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

	
  STATE
  OF

  	
  )

  
	
   

  	
   

  
	
   

  	
  )
   :

  
	
   

  	
   

  
	
  COUNTY
  OF

  	
  )

  

 

On
this          day of
                    ,
20    , before me personally appeared
                           ,
to me known, who, being by me duly sworn, did depose and say that he/she
resides at                                                    
and that he/she is
                      
of Debtor; that he/she knows the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was affixed pursuant
to authority of the Board of Directors of said corporation and that he/she
signed his/her name thereto in his/her capacity as an authorized officer of
said corporation pursuant to such authority.

 

 

Notary Public

 

 

 

SPECIAL POWER OF ATTORNEY

 

	
  STATE
  OF

  	
  )

  
	
   

  	
   

  
	
   

  	
  )
   :

  
	
   

  	
   

  
	
  COUNTY
  OF

  	
  )

  

 

KNOW ALL MEN BY THESE PRESENTS, THAT
[          ], a
[          ] corporation with
its principal office having an address at                  ,
(hereinafter called “Debtor”),
hereby appoints and constitutes Deutsche Bank AG, London Branch, as Security
Trustee (hereinafter called “Security Trustee”),
its true and lawful attorney, with full power of substitution, and with full
power and authority, upon the occurrence and during the continuance of an Event
of Default (hereinafter defined) to perform the following acts on behalf of
Debtor:

 

(a)                                  For the purpose of granting,
selling, licensing or otherwise disposing of all right, title and interest of
Debtor in and to any letters patent, design and plant patents, utility models,
industrial designs, inventor certificates and statutory invention registrations
of the United States of America or any other country or political subdivision
thereof, and all registrations, recordings, reissues, continuations,
continuations-in-part, term restorations and extensions thereof, and all
pending applications therefor, and for the purpose of the recording,
registering and filing of, or accomplishing any other formality with respect to
the foregoing, to execute and deliver any and all agreements, documents,
instruments of transfer or other papers necessary or advisable to effect such
purpose;

 

(b)                                 For the purpose of granting,
selling, licensing or otherwise disposing of all right, title and interest of
Debtor in and to any trademarks, trade names, trade styles and service marks,
and all registrations, recordings, reissues, extensions and renewals thereof,
and all pending applications therefor, and for the purpose of the recording,
registering and filing of, or accomplishing any other formality with respect to
the foregoing, to execute and deliver any and all agreements, documents,
instruments of transfer or other papers necessary or advisable to effect such
purpose;

 

(c)                                  For the purpose of granting,
selling, licensing or otherwise disposing of all right, title and interest of
Debtor in and to any copyrights, and all registrations, recordings, extensions
and renewals thereof, and all pending applications therefor, and for the
purpose of the recording, registering and filing of, or accomplishing any other
formality with respect to the foregoing, to execute and deliver any and all
agreements, documents, instruments of transfer or other papers necessary or
advisable to effect such purpose; and

 

(d)                                 To execute any and all documents,
statements, certificates or other papers necessary or advisable in order to
obtain the purposes described above as the Security Trustee may in its sole but
reasonable discretion determine.

 

This
power of attorney is made pursuant to an Amended and Restated Security
Agreement, dated the date hereof, as amended from time to time, by Debtor in
favor of the Security Trustee and will take effect solely for the purposes of
Section 9 thereof and is subject to the conditions thereof and may not be
revoked until the payment in full of all “Obligations” as
defined in such 

 

 

Amended
and Restated Security Agreement and expiration or termination of all “Commitments”
as such term is used in the Relevant Facilities Agreement (as defined in such
Amended and Restated Security Agreement); provided, however, Security Trustee
agrees that it shall only exercise the powers granted hereby following the
occurrence and during the continuance of an Event of Default.  As used herein, “Event of Default” has the
meaning specified in such Amended and Restated Security Agreement.

 

Dated
as of
                      ,
20      

 

[          ]

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]