Document:

First Supplement Indenture, dated 03/11/2010

 Exhibit 4.23 

FIRST SUPPLEMENTAL INDENTURE 

FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
March 11, 2010, among Budget Call Long Distance, Inc., Global Crossing Telecommunications, Inc., Global Crossing North American Networks, Inc., Global Crossing Local Services, Inc., Global Crossing Telemanagement, Inc. (each, a
“Guaranteeing Subsidiary” and collectively, the “Guaranteeing Subsidiaries”), each a subsidiary of Global Crossing Limited, an exempted company with limited liability formed under the laws of Bermuda (the
“Company”), the Company and Wilmington Trust FSB, as trustee under the Indenture referred to below (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
September 22, 2009, providing for the issuance of 12% Senior Secured Notes due 2015 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note
Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1.      CAPITALIZED TERMS.   Capitalized terms used herein without
definition shall have the meanings assigned to them in the Indenture. 

2.      AGREEMENT TO GUARANTEE.   The Guaranteeing
Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 11 thereof. 

3.      NO PERSONAL LIABILITY OF
DIRECTORS, OFFICERS, EMPLOYEES AND SHAREHOLDERS.   No past, present or future director, officer, employee, incorporator or shareholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, the Collateral Documents or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws. 
 4.      NEW YORK
LAW TO GOVERN.   THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO
THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
  

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	5.	SUBMISSION TO JURISDICTION; SERVICE OF PROCESS. 

(a)      Any legal action or proceeding with respect to this Supplemental Indenture or the Notes, or the
transactions contemplated hereby, or for recognition or enforcement of any judgment, shall be brought in the courts of the State of New York located in the City of New York or of the United States of America for the Southern District of New York,
and any court of appeals with respect to any such court, and, by execution and delivery of this Supplemental Indenture, each of the parties hereto hereby accepts for itself and in respect of its property, generally and unconditionally, the exclusive
jurisdiction of the aforesaid courts. The Company and each of the Guarantors hereby further (i) irrevocably waives, to the fullest extent it may legally and effectively do so, any claim that any such courts lack personal jurisdiction over the
Company or any of the Guarantors, and agrees not to plead or claim, in any legal action or proceeding with respect to this Supplemental Indenture or the Notes, the Note Guarantees or any of the Collateral Documents brought in any of the
aforementioned courts, that such courts lack personal jurisdiction over the Company or any of the Guarantors, (ii) irrevocably waives, to the fullest extent permitted by law, any defense of forum non conveniens in any legal action or proceeding
with respect to the Indenture or the Notes, the Note Guarantees or any of the Collateral Documents brought in any of the aforementioned courts and (iii) agrees that a final judgment in any such action or proceeding shall be conclusive and may
be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(b)      The Company and each of the Guaranteeing Subsidiaries hereby irrevocably designates, appoints and
empowers Global Crossing Development Co., 200 Park Avenue, Suite 300, Florham Park, NJ 07932 (the “Process Agent”), in the case of any suit, action or proceeding brought in the United States of America as its designee, appointee and
agent to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and documents that may be served in any action or proceeding arising out of or in connection with
the Indenture, the Notes, the Note Guarantees or any of the Collateral Documents. The Company and each of the Guaranteeing Subsidiaries hereby represents and warrants that the Process Agent has accepted such appointment and has agreed to act as said
agent for service of process, and the Company and each of the Guaranteeing Subsidiaries agrees to take any and all action, including the filing of any and all documents, that may be necessary to continue such appointment in full force and effect as
aforesaid. Service of process upon the Process Agent shall be deemed, in every respect, effective service of process upon the Company and each of the Guaranteeing Subsidiaries. Such service may be made by mailing (by registered or certified mail,
postage prepaid) or delivering a copy of such process to the Company or any of the Guaranteeing Subsidiaries, as applicable, in care of the Process Agent at the Process Agent’s above address, and the Company and each of the Guaranteeing
Subsidiaries hereby irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternative method of service, the Company and each of the Guaranteeing Subsidiaries irrevocably consents to the service of any and
all process in any such action or proceeding by the mailing (by registered or certified mail, postage prepaid) of copies of such process to the Process Agent or the Company or any of the Guaranteeing Subsidiaries, as applicable, at its address
specified in Section 13.02 of the Indenture. 
 (c)      Nothing contained in this
Section 5 shall affect the right of the Trustee or any Holder to serve process in any other manner permitted by law or commence legal proceedings or otherwise proceed against the Company or any of the Guaranteeing Subsidiaries in any other
jurisdiction. 
  

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 If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in
U.S. dollars into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Trustee could purchase U.S.
dollars with such other currency at the spot rate of exchange quoted by the Trustee at 11:00 a.m. (New York time) on the Business Day preceding that on which final judgment is given, for the purchase of U.S. dollars, for delivery two Business Days
thereafter. 
 6.      COUNTERPARTS.   The parties may sign any number of
copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

7.      EFFECT OF HEADINGS.   The Section headings
herein are for convenience only and shall not affect the construction hereof. 

8.      THE TRUSTEE.   The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries and the Company.

 [Signatures on following pages] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
  

					
	BUDGET CALL LONG DISTANCE, INC.
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	Vice President and Secretary
	
	GLOBAL CROSSING TELECOMMUNICATIONS, INC.
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	Vice President and Secretary
	
	GLOBAL CROSSING NORTH AMERICAN NETWORKS, INC.
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	Vice President and Secretary
	
	GLOBAL CROSSING LOCAL SERVICES, INC.
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	Vice President and Secretary
	
	GLOBAL CROSSING TELEMANAGEMENT, INC.
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	Vice President and Secretary
	
	GLOBAL CROSSING LIMITED
		
	By:	 	/s/ Mitchell Sussis
		 	Name:	 	Mitchell Sussis
		 	Title:	 	SVP and Secretary
	
	 WILMINGTON TRUST FSB,

as Trustee

		
	By:	 	/s/ Jane Schweiger
		 	Authorized Signatory

  

 [4]TradeOn Inc.: Exhibit 10-1 - Filed by newsfilecorp.com

Exhibit 10.1 

Business Operation Agreement 

This Business Operation Agreement (the “Agreement”) is entered
into on 18th May 2010 by and among the following parties in Changzhou
City, Jiangsu Province, the PRC: 

	Party A: 	Best Green Energy (Changzhou) Co., Ltd,
      a wholly foreign-owned enterprise duly established and valid existing
      under the laws of the People’s Republic of China (“PRC”). 
		Address: Qinxiang Village, Lijia Town,
      Wujin District, Changzhou City, Jiangsu Province, PRC 
	  	Legal Representative: Mr. Shi Jianliang
    
	 	 
	Party B: 	Jiangsu Best Electrical Appliances Co.,
      Ltd 
		Address: Qinxiang Village, Lijia Town,
      Wujin District, Changzhou City, Jiangsu Province, PRC 
	  	Legal Representative: Mrs. Wang Xueqin
    
	 	 
	  	Changzhou City Wujin Best Electronic Cables
      Co., Ltd 
		Address: Qinxiang Village, Lijia Town,
      Wujin District, Changzhou City, Jiangsu Province, PRC 
	  	Legal Representative: Mr. Shi Jianliang
    
	 	 
	Party C: 	Mr. Shi Jianliang 
		Address: Qinxiang Village, Lijia Town,
      Wujin District, Changzhou City, Jiangsu Province PRC. 
	  	Mrs. Wang Xueqin 
		Address: Qinxiang Village, Lijia Town,
      Wujin District, Changzhou City, Jiangsu Province PRC. 

WHEREAS: 

1. Party A is a wholly foreign-owned enterprise established in
accordance with the laws of the People’s Republic of China (the “PRC”) and
registered in the PRC; its business scope covers: research and development and
manufacture of Solar power conditioner, Solar heating system, Solar power drier,
onboard refrigerator, electric vehicle and material spare parts, digital voice
and video decoder, electronic specialized equipment, electronic testing
instrument (sensitive components and transmitter, photoelectric devices, new
type electromechanical components), digital voice and video cables, plastic
ware, general machinery components; relevant investment consulting service;
purchase above-mentioned similar domestic products for exporting. 

2. Party B is limited liability companies registered in the PRC
and carries on the business of manufacture and sale of electrical appliances
including refrigerators and stereos and bicycles and etc, and manufacture and
sale of electronic wires and cables; 

3. Party A has established a business relationship with Party B
by entering into certain agreements such as an Exclusive Technical and Consulting Service
Agreement; 

1

4. Party C is shareholders of Party B and owns 100% of the
equity interest collectively in Party B. 

5. Party A, Party B, and Party C agree to further clarify
matters relating to the operation of Party B pursuant to provisions herein. 

NOW THEREFORE, Party A, Party B and Party C through
mutual negotiations hereby agree as follows: 

	1. 	
      To ensure the performance of the various business
      agreements between Party A and Party B and to ensure the payment of the
      various payables by Party B to Party A, Party B and Party C hereby jointly
      agree that Party B shall not conduct any transaction which may materially
      affect its assets, obligations, rights or business operation without
      obtaining prior consent from Party A, including without limitation to the
      following:

1.1. To borrow money from any third
party or assume any debt; 

1.2. To sell to any third party or
acquire from any third party any assets or rights, including without limitation
any intellectual property rights; 

1.3. To provide any third party with
any security over its assets or intellectual property rights, or create any
encumbrance, burden or restriction on its assets, or to provide any other
security in any other forms; 

1.4. To assign to any third party the
business agreements it enters into; 

1.5. To change or dismiss any of its
directors or replace any of its senior management officers; 

1.6. To amend its articles of
association or change its business scope; 

1.7. To change its normal business
procedure or amend any of its important internal rules and regulations; and 

1.8. To assign to any third party its
rights under this agreement. 

	2. 	
      In order to ensure the performance of the various
      agreements between Party A and Party B and to ensure the payment of the
      various payables by Party B to Party A, Party B and Party C hereby jointly
      agree to accept policies and suggestions provided by Party A from time to
      time with respect to employment or dismissal of employees, corporate
      management and financial management system.

	 	 
	3. 	
      Party B and Party C hereby jointly agree that they shall
      appoint the personnel recommended by Party A as the directors of Party B,
      and Party B shall engage Party A’s senior
management officers or any other candidate recommended by Party A as
      Party B’s general manager, chief financial officer and other senior
      management officers. If any of the above officers leaves or is dismissed
      by Party A, he or she will lose the qualification to assume any position
      in Party B and, under such circumstance, Party B and Party C shall appoint
      other senior management officers of Party A recommended by Party A to
      assume such position. Decisions to dismiss the above directors, general
      manager, chief financial officer and other senior management officers
      shall be made by Party A and executed jointly by Party B or Party
  C.

2

	4. 	
      Party B and Party C hereby jointly agree and confirm
      that, except as set forth in Article 1 herein, Party B shall seek
      guarantee from Party A first if Party B needs any guarantee for its
      performance of any contract or its loan of working capital in the course
      of its business operation. In this case, Party A shall, at its own
      discretion, have the right but is not obliged to provide appropriate
      guarantee to Party B. If Party A decides not to provide such guarantee,
      Party A shall issue a written notice to Party B immediately and Party B
      shall seek the guarantee from other third party.

	 	 
	5. 	
      If any of the agreements between Party A and Party B
      terminates or expires, Party A shall have the right but is not the obliged
      to terminate all the agreements between Party A and Party B, including but
      not limited to the Exclusive Technical and Consulting Service
      Agreement.

	 	 
	6. 	
      Any amendment and supplement to this Agreement shall be
      made in writing. After being duly executed by each party, such amendment
      and supplement shall be part of this Agreement and shall have the same
      legal effect as this Agreement.

	 	 
	7. 	
      This Agreement shall be governed by and construed in
      accordance with the PRC law.

	 	 
	8. 	
      The parties shall settle in good faith any dispute
      arising out of the interpretation or performance of this Agreement through
      friendly consultation. If no settlement can be reached through
      consultation, each party may submit such dispute to Shanghai
      Sub-commission of China International Economic and Trade Arbitration
      Commission (“CIETAC”) for arbitration in accordance with the currently
      effective rules of CIETAC. The arbitration shall be conducted in Shanghai
      and in Chinese. The arbitration decision shall be final and binding upon
      the parties.

	 	 
	9. 	
      This Agreement shall be executed by a duly authorized
      representative of each party as of the date first written above, upon
      which this Agreement becomes effective. The term of this Agreement is ten
      years unless otherwise terminated earlier under the relevant provisions
      herein. This Agreement may be renewed only upon Party A’s written
      confirmation prior to the expiration of this Agreement. The renewed term
      shall be determined pursuant to Party A’s written confirmation.

	 	 
	10. 	
      This Agreement shall be terminated on the expiry date
      unless it is renewed in accordance with the relevant provision herein.
      During the term of this Agreement, Party B shall not terminate this
      Agreement.

	 	 
		
      Notwithstanding the above stipulation, Party A shall have
      the right to terminate this Agreement at any time by serving a thirty-day
      prior written notice to Party B.

3

[Business Operation Agreement –Signature Page]

IN WITNESS WHEREOF, the Parties have executed this
Agreement on the date first above written. 

Best Green Energy (Changzhou) Co., Ltd,

     By: /s/ Shi Jianliang 
    
Legal Representative:Mr. Shi Jianliang 

Jiangsu Best Electrical Appliances Co., Ltd

     By: /s/ Wang Xueqin 
    
Legal Representative:Mrs. Wang Xueqin 

Changzhou City Wujin Best Eletronic Cables Co., Ltd 

     By: /s/ Shi Jianliang

     Legal Representative:Mr. Shi Jianliang 

     /s/ Shi Jianliang

     Mr. Shi Jianliang

     /s/ Wang Xueqin

     Mrs. Wang Xueqin 

4

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