Document:

Exhibit 10.1

 

 

EXECUTION VERSION

 

Dated 25 September 2009

 

 

SEAGATE
TECHNOLOGY INTERNATIONAL

 

as
the Chargor

 

 

in
favour of

 

 

JPMORGAN
CHASE BANK, N.A.

 

as
Administrative Agent

 

 

SHARE
CHARGE

 

 

	
   

  	
  ALLEN & GLEDHILL LLP 

  ONE MARINA
  BOULEVARD #28-00  

  SINGAPORE
  018989

  

 

 

TABLE OF CONTENTS

 

	
  Contents

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Definitions and Interpretation

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Security

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Restrictions and further Assurance

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Charged Shares

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  General Undertakings

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  Representations and Warranties

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  Enforcement

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
   

  	
  Appointment and Rights of Receivers

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  Administrative Agent’s Rights

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
   

  	
  Order of Distributions

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
   

  	
  Liability of Administrative Agent, Receivers and Delegates

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
   

  	
  Power of Attorney

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
   

  	
  Protection of Third Parties

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
   

  	
  Saving Provisions

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  15.

  	
   

  	
  Discharge of Security

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
   

  	
  Expenses, Stamp Duty and Interest

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  17.

  	
   

  	
  Payments

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  18.

  	
   

  	
  Conduct of business by the Secured Parties

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  19.

  	
   

  	
  Miscellaneous Indemnities

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  20.

  	
   

  	
  Rights, Amendments, Waivers and Determinations

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  21.

  	
   

  	
  Separate and independent obligations

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  22.

  	
   

  	
  Benefit of Security

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
   

  	
  Partial Invalidity

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  24.

  	
   

  	
  Notices

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25.

  	
   

  	
  Counterparts

  	
   

  	
  23

  

 

i

 

	
  Contents

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26.

  	
   

  	
  Governing Law

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  27.

  	
   

  	
  Jurisdiction

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule 1  - Rights
  of Receivers 

  	
  25

  
	
   

  	
   

  	
   

  
	
  Schedule 2  - Shares 

  	
  27

  
						

 

ii

 

This Deed is made on 25 September 2009
between:

 

(1)                                 Seagate
Technology International, an exempted company with limited liability
incorporated under the laws of the Cayman Islands  (the
“Chargor”) as the chargor; and

 

(2)                                 JPMorgan
Chase Bank, N.A. (the “Administrative Agent”)
as administrative agent.

 

Background

 

(A)                             The Chargor is entering into
this Deed in connection with the Credit Agreement (as defined below).

 

(B)                               The Chargor has issued 10.00
per cent. Senior Secured Second-Priority Notes due 2014 (the “Notes”) pursuant to an indenture dated as of 1 May 2009
(as amended, supplemented or otherwise modified from time to time, the “Indenture”) and guaranteed by, inter alios, Seagate Technology HDD Holdings,
the borrower under the Credit Agreement and in connection with the Notes, the
Chargor has entered into an intercreditor agreement dated as of 1 May 2009
(as amended, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) pursuant to which
the Administrative Agent has agreed to permit the granting of second ranking
security interests by the Chargor in favour of the collateral agent under the
Indenture on the terms and conditions of the Intercreditor Agreement.

 

(C)                               Pursuant to the Intercreditor
Agreement, the parties hereto acknowledge that a second ranking share charge
will be entered into by the Chargor on or about the date of this Deed in
connection with the Notes.

 

(D)                              The Board of Directors of the
Chargor is satisfied that entering into this Deed is for the purposes and to
the benefit of the Chargor and its business.

 

(E)                                The Administrative Agent is
entering into this Deed on behalf of itself and the other Secured Parties.

 

It is agreed as follows:

 

1.                                      Definitions and
Interpretation

 

1.1                               Definitions

 

In this Deed, unless a contrary indication appears,
terms used in the Credit Agreement have the same meaning and construction. In
addition:

 

“Acts”
means the Companies Act and the Property Act.

 

“Authorisation”
means an authorisation, consent, approval, resolution, licence, exemption,
filing, notarisation, lodgement or registration.

 

“Bank Account”
has the meaning given to it in the Debenture.

 

1

 

“Charged Assets”
means the assets from time to time subject, or expressed to be subject, to the
Charges or any part of those assets.

 

“Charged Company”
means Seagate Singapore International Headquarters Pte. Ltd., a company
incorporated under the laws of Singapore, with company registration number 199700025H.

 

“Charges” means
all or any of the Security created or expressed to be created by or pursuant to
this Deed.

 

“Credit Agreement”
means the second amended and restated credit agreement dated as of 3 April 2009
made between inter alia, Seagate Technology,
Seagate Technology HDD Holdings, the lenders named in that agreement, as
original lenders, and JPMorgan Chase Bank, N.A., as administrative agent and
the other agents party thereto.

 

“Companies Act”
means the Companies Act, Chapter 50 of Singapore.

 

“Currency of Account”
means the currency in which the relevant indebtedness is denominated or, if
different, is payable.

 

“Debenture”
means the debenture dated on or about the date of this agreement and entered
into between Seagate Singapore International Headquarters Pte.
Ltd., as chargor and the Administrative Agent, as administrative agent.

 

“Default Notice”
means a notice sent by the Administrative Agent to the Borrower pursuant to Section 7.01
of the Credit Agreement, after an occurrence and during the continuance of an
Event of Default.

 

“Delegate” means
a delegate or sub-delegate appointed under Clause 9.2 (Delegation).

 

“Dividends”
means, in relation to any Share, all present and future:

 

(a)                                  dividends and distributions of
any kind and any other sum received or receivable in respect of that Share;

 

(b)                                 rights, shares, money or other
assets accruing or offered by way of conversion, exchange, redemption, bonus,
preference, option or otherwise in respect of that Share;

 

(c)                                  allotments, offers and rights
accruing or offered in respect of or in substitution for that Share; and

 

(d)                                 other rights and assets
attaching to, deriving from or exercisable by virtue of the ownership of that
Share.

 

“Party” means a
party to this Deed.

 

“Property Act”
means the Conveyancing and Law of Property Act, Chapter 61 of Singapore.

 

2

 

“Receiver” means
a receiver, receiver and manager, judicial manager or other manager appointed
in respect of the Charged Assets.

 

“Security” means
a mortgage, charge, pledge, lien or other security interest securing any
obligation of any person or any other agreement or arrangement having a similar
effect.

 

“Shares” means:

 

(a)                                  all present and future shares
in the Charged Company, including the shares issued and outstanding at the date
of this Deed described in Schedule 2 (Shares);

 

(b)                                 all rights relating to any of
the shares described in paragraph (a) above which are deposited with, or
registered in the name of, any depositary, custodian, nominee, clearing house
or system, investment manager, chargee or other similar person or their
nominee, in each case whether or not on a fungible basis (including rights
against any such person);

 

(c)                                  all warrants, options or other
rights to subscribe for, purchase or otherwise acquire any of the shares
described in paragraph (a) above; and

 

(d)                                 all other rights attaching or
relating to any of the shares described in paragraph (a) above, and all
cash or other securities or investments in the future deriving from any of
those shares or such rights,

 

in each
case now or in the future owned by the Chargor or (to the extent of its
interest) in which it now or in the future has an interest.

 

“Tax” means any
tax, levy, impost, duty or other charge or withholding of a similar nature
(including any penalty or interest payable in connection with any failure to
pay or any delay in paying any of the same).

 

“Winding-up”
means winding up, amalgamation, reconstruction, administration, dissolution,
liquidation, merger or consolidation or any analogous procedure or step in any
jurisdiction.

 

1.2                               Construction

 

The
provisions in Section 1.03 (Terms Generally)
of the Credit Agreement apply to this Deed with all necessary changes. In
addition, unless a contrary indication appears, any reference in this Deed to:

 

1.2.1                     “assets”
includes present and future properties, revenues and rights of every
description;

 

1.2.2                     the “Chargor”, the “Administrative Agent” or any “Party” shall be construed so as to include its successors in
title, permitted assigns and permitted transferees;

 

1.2.3                     a “Loan
Document” or any other agreement or instrument is a reference to
that Loan Document or other agreement or instrument as amended, supplemented, 

 

3

 

restated or otherwise modified (subject to any
restrictions on such amendments and restatements, supplements or modifications
set forth in the Credit Agreement);

 

1.2.4                     “indebtedness”
includes any obligation (whether incurred as principal or as surety) for the
payment or repayment of money, whether present or future, actual or contingent;

 

1.2.5                     a “person”
includes any person, firm, company, corporation, government, state or agency of
a state or any association, trust or partnership (whether or not having
separate legal personality) or two or more of the foregoing;

 

1.2.6                     a “regulation”
includes any regulation, rule, official directive, request or guideline
(whether or not having the force of law) of any governmental, intergovernmental
or supranational body, agency, department or regulatory, self-regulatory or
other authority or organisation; and

 

1.2.7                     a provision of law is a
reference to that provision as amended or re-enacted.

 

1.3                               Ambiguity or Conflict

 

Where there is any ambiguity or conflict between the
provisions of the Credit Agreement and this Deed, then the provisions of the
Credit Agreement shall prevail.

 

1.4                               Third Party Rights

 

1.4.1                     Unless expressly provided to
the contrary, a person who is not a Party has no right under the Contracts (Rights
of Third Parties) Act, Chapter 53B of Singapore to enforce or enjoy the benefit
of any term of this Deed, provided that the terms of this Deed shall inure to
the benefit of the Secured Parties.

 

1.4.2                     Notwithstanding any term of
this Deed, the consent of any third party is not required for any variation
(including any release or compromise of any liability under) or termination of
this Deed.

 

2.                                      Security

 

2.1                               Equitable Charge

 

The Chargor, as legal and beneficial owner of the
Shares and Dividends, and as a continuing security for the payment of all
Obligations, charges in favour of the Administrative Agent by way of first
fixed charge, and assigns and agrees to assign absolutely to the Administrative
Agent, free from all Security (other than as permitted by the Credit
Agreement), all its rights, title and interest in and to, all present and
future Shares and Dividends provided that no Security shall
be granted under this Clause 2.1, if:

 

2.1.1                     the
Administrative Agent determines, after consultation with the Chargor that
granting such Security would:

 

4

 

(a)                                  violate
the law of the jurisdiction in which the Charged Assets are located or the law
of the jurisdiction where the person owning such asset or property is
organised;

 

(b)                                 violate
the terms of any material contract binding on the Chargor, (but only to the
extent that the restrictions in all such contracts, taken as a whole, do not
materially limit the Charged Assets that would otherwise be pledged pursuant to
the Collateral and Guarantee Requirement and Section 5.13(c) of the
Credit Agreement to secure the Obligations); or

 

(c)                                  result
in a material adverse tax consequence to the Chargor; or

 

2.1.2                     the
Administrative Agent determines that the cost to the Chargor of granting and
perfecting such security interest would be excessive in view of the related
benefits to be received by it.

 

2.2                               Share Certificates etc.

 

The Chargor has delivered, as of the date of this Deed
or, in the case of Shares acquired after the date of this Deed, shall deliver
on the date of such acquisition deliver to the Administrative Agent, or as it
directs:

 

(a)                                  all certificates representing
the Shares;

 

(b)                                 stamped transfers of the
Shares executed in blank;

 

(c)                                  a
certified copy of the Chargor’s Register of Mortgages and Charges which has
been updated to record the particulars of this Mortgage in a form reasonably
satisfactory to the Administrative Agent; and

 

(d)                                 any
other documents relating to the Shares which the Administrative Agent reasonably
requires.

 

3.                                      Restrictions
and further Assurance

 

3.1                               Security

 

The Chargor shall not create or permit to subsist any
Security over any Charged Asset, nor do anything else prohibited by Section 6.02
(Liens) of the Credit Agreement, except
as permitted by that clause.

 

3.2                               Disposal

 

The Chargor shall not (and shall not agree to) enter
into a single transaction or a series of transactions (whether related or not
and whether voluntary or involuntary) to sell, lease, transfer or otherwise
dispose of any Charged Asset, nor do anything else prohibited by Section 6.05
(Asset Sales) of the Credit Agreement,
except as permitted by that clause, and, in the case of Dividends, as permitted
by Clause 4.3 (Dividends before the receipt of a Default
Notice by the Borrower).

 

5

 

3.3                               Rights Issues, etc.

 

The Chargor shall within three (3) Business Days
of demand, duly pay all calls, subscription moneys and/or other moneys payable
on or in respect of the Charged Assets. If the Chargor does not do so, the
Administrative Agent may do so and, if the Administrative Agent does so, the
Chargor shall within three (3) Business Days of demand indemnify the
Administrative Agent against such payment together with interest thereon for
the period beginning on the date of such payment and ending on the date on
which the Administrative Agent has been indemnified in full by the Chargor
calculated at the rate per annum specified in Section 2.12(c)(ii) (Interest) of the Credit Agreement.

 

3.4                               Further Assurance

 

The Chargor shall promptly do whatever is necessary to
create, maintain and perfect the Security created under this Deed and whatever
else the Administrative Agent reasonably requires:

 

(a)                                  to perfect or protect the
Charges or the priority of the Charges; or

 

(b)                                 to facilitate the realisation
of the Charged Assets or the exercise of any rights vested in the
Administrative Agent or any Delegate,

 

including executing any transfer, conveyance, charge,
assignment or assurance of the Charged Assets (whether to the Administrative
Agent or its nominees or otherwise), making any registration and giving any
notice, order or direction.

 

4.                                      Charged Shares

 

4.1                               Voting and other rights before
the receipt of a Default Notice by the Borrower

 

Subject to Clause 4.2 (Voting and
other rights after the receipt of a Default Notice by the Borrower),
the Chargor shall be entitled to exercise or direct the exercise of the voting
and other rights attached to any Share as it sees fit provided that:

 

4.1.1                     it does so for a purpose not
inconsistent with any Loan Document; and

 

4.1.2                     the exercise of or failure to
exercise those rights would not materially impair the collateral or materially
and adversely affect the rights and remedies of any Secured Party under any
Loan Document.

 

4.2                               Voting and other rights after the receipt of a
Default Notice by the Borrower

 

At any time after the receipt of a Default Notice by
the Borrower:

 

4.2.1                     the Administrative Agent shall
be entitled to exercise or direct the exercise of the voting and other rights
attached to any Share as it reasonably sees fit provided that unless otherwise
directed by the Required Lenders, the Administrative Agent shall have the right
to permit the Chargor to exercise such rights; and

 

6

 

4.2.2                     the Chargor shall comply or
procure the compliance with any directions of the Administrative Agent in
respect of the exercise of those rights and shall promptly execute and/or
deliver to the Administrative Agent such forms of proxy as it or he requires
with a view to enabling such person as it or he selects to exercise those
rights.

 

4.3                               Dividends before the receipt of a
Default Notice by the Borrower

 

Subject to Clause 4.4 (Dividends after the
receipt of a Default Notice by the Borrower), the Chargor shall be
entitled to retain all cash income paid or payable on any Share and the
Administrative Agent shall (or, as the case may be, ensure that its nominee
shall) pay any cash income derived from the Shares of the Chargor to the
Chargor. If any cash income is received
by (or paid to) the Chargor (or as it may direct) pursuant to this Clause 4.3,
that amount shall be automatically released from the Security created under
this Deed on such amount being received by (or, as the case may be, being paid
to) the Chargor, to the extent that such amount is not paid or deposited into a
Bank Account.

 

4.4                               Dividends after the
receipt of a Default Notice by the Borrower

 

4.4.1                     Upon and at any time after the
receipt of a Default Notice by the Borrower, the Administrative Agent (or, as
the case may be, its nominee) shall be entitled to retain any cash income
received by it and apply the same in or towards the payment of the Obligations
in accordance with Clause 10 (Order of Distributions).

 

4.4.2                     After all Events of Default
have been cured or waived, the Administrative Agent shall promptly repay to the
Chargor all cash income paid on any Share that the Chargor would otherwise be
permitted to retain pursuant to the terms of the Clause 4.3 (Dividends before the receipt of a Default Notice by the Borrower)
and that have not been applied in accordance with Clause 10 (Order of Distributions).

 

4.5                               Acquisition of Shares

 

The Chargor shall promptly notify the Administrative
Agent of:

 

4.5.1                     its acquisition of any Shares;
and

 

4.5.2                     after the receipt of a Default
Notice by the Borrower, the declaration, payment, allotment, offer or issue of
any Dividend.

 

4.6                               Communications

 

After the receipt of a Default Notice by the Borrower,
the Chargor shall promptly deliver to the Administrative Agent a copy of every
circular, notice, report, set of accounts or other documents received by it or
its nominee in connection with the Shares or in connection with or from the
issuer of any of the Shares.

 

4.7                               Power of Attorney

 

Upon the occurrence of
an Event of Default which is continuing, if any Share is not held in the
Chargor’s name other than pursuant to this Deed, the Chargor shall 

 

7

 

promptly execute and
deliver to the Administrative Agent an irrevocable power of attorney, expressed
to be given by way of security and executed as a deed by the person in whose
name that Share is held. That power of attorney shall appoint the
Administrative Agent and every Delegate the attorney of the holder and shall be
in such form as the Administrative Agent requires.

 

5.                                      General
Undertakings

 

5.1                               Authorisations

 

The Chargor shall promptly:

 

5.1.1                     obtain, comply with and do all
that is necessary to maintain in full force and effect; and

 

5.1.2                     if reasonably requested by the
Collateral Agent, supply certified copies to the Administrative Agent of,

 

any Authorisation required under any law or regulation
of its jurisdiction of incorporation to enable it to perform its obligations
under this Deed and to ensure the legality, validity, enforceability or
admissibility in evidence in its jurisdiction of incorporation of this Deed.

 

5.2                               Compliance with laws

 

The
Chargor shall comply in all respects with all laws to which it may be subject,
except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

 

5.3                               Protection of security

 

The Chargor shall take
any commercially reasonable actions necessary to defend title to the Charged
Assets against all persons and to defend the security interest of the
Administrative Agent and the priority thereof against any charge not expressly
permitted pursuant to Section 6.02 of the Credit Agreement.

 

6.                                      Representations
and Warranties

 

The Chargor makes the representations and warranties
set out in this Clause 6 to the Administrative Agent on the date of this Deed.

 

6.1                               Status

 

It is an exempted limited liability
company, duly incorporated and validly existing under the laws of Cayman
Islands and has the power to own its assets and carry on its business as it is
being, and is proposed to be, conducted.

 

8

 

6.2                               Binding obligations

 

The
obligations expressed to be assumed by it in this Deed are legal, valid,
binding and enforceable, subject to the requirements specified at the end of
Clause 6.5 (Validity and admissibility in evidence).

 

6.3                               Non-conflict with
other obligations

 

The entry into and performance by it of this Deed, and
the transactions contemplated by this Deed, do not and will not conflict with:

 

6.3.1                     any law or regulation
applicable to it;

 

6.3.2                     its constitutional documents;
or

 

6.3.3                     any agreement or instrument
binding upon it or any of its assets or constitute a default or termination
event (however described) under any such agreement or instrument, the breach of
which would reasonably be expected to have a Material Adverse Effect,

 

6.3.4                     nor (except as provided in any
Security Document) result in the existence of, or oblige it to create, any
Security over any of its assets.

 

6.4                               Power and authority

 

It has the power to enter into, perform and deliver,
and has taken all necessary action to authorise its entry into, performance and
delivery of, the Loan Documents to which it is a party and the transactions
contemplated by those Loan Documents.

 

6.5                               Validity and
admissibility in evidence

 

All Authorisations required:

 

6.5.1                     to enable it lawfully to enter
into, exercise its rights under and comply with its obligations in this Deed;

 

6.5.2                     to make this Deed admissible
in evidence in Singapore; and

 

6.5.3                     to enable it to create the
Security purported to be created by it pursuant to this Deed and to ensure that
such Security has the priority and ranking it is expressed to have,

 

have been obtained or effected and are in full force
and effect (or, in each case, will be obtained or effected when required) save
for the making of the appropriate registrations of this Deed with the
Accounting and Corporate Regulatory Authority of Singapore and the payment of
stamp duty in the amount of up to S$500 payable in Singapore in respect of the
stamping of this Deed.

 

6.6                               No existing Security

 

Except for the Charges, and as provided in this Deed
or as permitted under the Credit Agreement, no Security exists on or over the
Charged Assets.

 

9

 

6.7                               Beneficial Ownership

 

Except as provided in this Deed including, without
limitation, Clause 3.2 (Disposal), the
Chargor has not assigned, transferred or otherwise disposed of the Charged
Assets (or its right, title and interest to or in the Charged Assets), either
in whole or in part, nor agreed to do so, and will not at any time do so or
agree to do so (except as permitted by the Loan Documents). Save as permitted
by the Credit Agreement or this Deed, the Chargor has good title to the Charged
Assets material to its business, except for any minor defects in title that do
not interfere with its ability to conduct its business as currently conducted
or to utilise such Charged Assets for their intended purposes subject to liens permitted
under the Credit Agreement.

 

6.8                               Immunity

 

Neither the Chargor nor any
of its assets is entitled to immunity from suit, execution, attachment or other
legal process and in any proceedings taken in Singapore in relation to this
Deed, it will not be entitled to claim immunity for itself or any of its
assets, arising from suit, execution or other legal process.

 

6.9                               Consents

 

It has obtained all
consents necessary to grant the Security under this Deed, to enter into this
Deed and to ensure that no other party to any agreement or arrangement entered
into by the Chargor becomes entitled to terminate such agreement or arrangement
as a consequence of the Chargor entering into this Deed.

 

6.10                        Shares Fully Paid etc.

 

The Shares are duly authorised, validly issued and
fully paid, non-assessable and freely transferable and constitute shares in the
capital of limited companies. There are no moneys or liabilities outstanding or
payable in respect of any of the Shares.

 

6.11                        Ranking

 

6.11.1              This Deed creates in favour of
the Administrative Agent the Security which it is expressed to create with the
ranking and priority it is expressed to have.

 

6.11.2              Without limiting Clause 6.11.1
above, the Chargor’s payment obligations under the Loan Documents rank at least
pari passu with the claims of all its
other unsecured and unsubordinated creditors, except for obligations
mandatorily preferred by law applying to companies.

 

6.12                        Share Capital

 

The Shares constitute all the share capital in the
Charged Company and no person has or is entitled to any conditional or
unconditional option, warrant or other right to subscribe for, purchase or
otherwise acquire any issued or unissued shares, or any interest in shares, in
the capital of the Charged Company.

 

10

 

7.                                      Enforcement

 

7.1                               Enforceability of
Security

 

As between the Chargor and the Administrative Agent,
the Charges shall be enforceable, and the power of sale and other powers
conferred by Section 24 of the Property Act (as varied and extended by
this Deed) and all the other powers conferred on the Administrative Agent by
this Deed shall be exercisable at any time after the occurrence and during the
continuance of an Event of Default.

 

7.2                               Power of sale

 

The statutory power of sale, of appointing a Receiver
and the other statutory powers conferred on mortgagees by Section 24 of
the Property Act as varied and extended by this Deed shall arise on or after
the occurrence and during the continuance of an Event of Default and may be exercised
by the Administrative Agent free from the restrictions imposed by Section 25
of the Property Act.

 

7.3                               Consolidation

 

Section 21 of the Property Act shall not apply to
this Deed.

 

7.4                               Section 25 of the
Property Act

 

Section 25 of the Property Act shall not apply to
this Deed.

 

7.5                               No Liability as
mortgagee in possession

 

Nothing done by or on behalf of the Administrative
Agent pursuant to this Deed shall render it liable to account as a mortgagee in
possession for any sums other than actual receipts save for any loss arising
from the gross negligence or wilful misconduct of the Administrative Agent.

 

8.                                      Appointment and
Rights of Receivers

 

8.1                               Appointment of
Receivers

 

If:

 

8.1.1                     requested by the Chargor; or

 

8.1.2                     after the occurrence and
during the continuance of an Event of Default (whether or not the
Administrative Agent has taken possession of the Charged Assets):

 

without any notice or further notice, the
Administrative Agent may, by deed, or otherwise in writing signed by any
officer or manager of the Administrative Agent or any person authorised for
this purpose by the Administrative Agent, appoint one or more persons to be a
Receiver. Subject to the provisions of the Companies Act, the Administrative
Agent may similarly remove (so far as it is lawfully able) any Receiver and
appoint any person instead of any Receiver. If the Administrative Agent
appoints more than one person as 

 

11

 

Receiver, the Administrative Agent may give
those persons power to act either jointly or severally. Any Receiver referred
to in this Clause 8 may enjoy the benefit or enforce the terms of this Clause 8
in accordance with the provisions of the Contracts (Rights of Third Parties)
Act, Chapter 53B of Singapore.

 

8.2                               Scope of appointment

 

Any Receiver may be appointed Receiver of all of the
Charged Assets or Receiver of a part of the Charged Assets specified in the
appointment. In the latter case, the rights conferred on a Receiver as set out
in Schedule 1 (Rights of Receivers) shall have
effect as though every reference in that Schedule to any Charged Assets were a
reference to the part of those assets so specified or any part of those assets.

 

8.3                               Rights of Receivers

 

Any Receiver appointed pursuant to this Clause 8 shall
have the rights, powers, privileges and immunities conferred by the Acts (as
varied and/or extended by this Deed) on (a) mortgages, (b) mortgages
in possession and (c) administrative or other receivers duly appointed
under the Acts, and shall also have the rights set out in Schedule 1 (Rights of Receivers). The Receiver shall in the exercise of
the Receiver’s powers, authorities and discretions conform to the discretions
and regulations from time to time given or made by the Administrative Agent.
Any Receiver referred to in this Clause 8 may enjoy the benefit or enforce the
terms of this Clause 8 in accordance with the provisions of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

8.4                               Agent of Chargor

 

Any Receiver shall be the agent of the Chargor for all
purposes. The Chargor alone shall be responsible for the Receiver’s contracts,
engagements, acts, omissions, defaults and losses and for liabilities incurred
by the Receiver, provided that the Chargor (and for the avoidance of doubt, the
Administrative Agent) shall not be liable for any sums arising from the gross
negligence or wilful misconduct of the Receiver.

 

8.5                               Remuneration

 

The Administrative Agent may (acting reasonably)
determine the remuneration of any Receiver (without being limited to the
maximum rate specified in Section 29(6) of the Property Act) and
direct payment of that remuneration out of moneys he receives as Receiver. The
Chargor alone shall be liable for the remuneration and all other costs, losses,
liabilities and expenses of the Receiver provided that the Chargor (and for the
avoidance of doubt, the Administrative Agent) shall not be liable for any sums
arising from the gross negligence or wilful misconduct of the Receiver.

 

9.                                      Administrative
Agent’s Rights

 

9.1                               Same rights as Receiver

 

Any rights conferred by any Loan Document upon a
Receiver may be exercised by the Administrative Agent after the Charges become
enforceable, whether or not the 

 

12

 

Administrative Agent shall have taken possession or
appointed a Receiver of the Charged Assets.

 

9.2                               Delegation

 

The Administrative Agent may at any time and from time
to time delegate by power of attorney or in any other manner to any person or
persons or fluctuating body of persons all or any of the powers, authorities
and discretions which are for the time being exercisable by the Administrative
Agent under this Deed in relation to the Charged Assets and any such delegation
may be made upon such terms and conditions (including power to sub-delegate)
and subject to such regulations as the Administrative Agent may think fit and
the Administrative Agent shall not be in any way liable or responsible to the
Chargor for any loss or damage arising from any act, default, omission or
misconduct on the part of any such delegate or sub-delegate.  Any third party referred to in this Clause
9.2 may enjoy the benefit or enforce the terms of this Clause 9.2 in accordance
with the provisions of the Contracts (Rights of Third Parties) Act, Chapter 53B
of Singapore.

 

10.                               Order of
Distributions

 

10.1                        Application of proceeds

 

All moneys received or recovered by the
Administrative Agent or any Receiver or Delegate in exercise of their rights
under this Deed shall, subject to the rights of any creditors having priority,
be applied in the order provided in Clause 10.2 (Order of
distribution).

 

10.2                        Order of distributions

 

The
order referred to in Clause 10.1 (Application of proceeds)
is:

 

10.2.1              first, to the payment of all
costs and expenses incurred by the Administrative Agent (in its capacity as
such hereunder or under any other Loan Document) in connection with such
collection or sale or otherwise in connection with this Deed or any of the
Obligations, including all court costs and the reasonable fees and expenses of
its agents (including the Receiver and any Delegate) and legal counsel, the
repayment of all advances made by the Administrative Agent hereunder or under
any other Loan Document on behalf of the Chargor and any other costs or expenses
incurred in connection with the exercise of any right or remedy hereunder or
under any other Loan Document;

 

10.2.2              second, to the payment in full
of the Obligations (the amounts so applied to be distributed among the Secured
Parties pro rata in accordance with the amounts of the Obligations owed to
them on the date of any such distribution); and

 

10.2.3              third, to the Chargor, its
successors or assigns, or as a court of competent jurisdiction may otherwise
direct.

 

13

 

11.                               Liability of
Administrative Agent, Receivers and Delegates

 

11.1                        Possession

 

If the Administrative Agent, any Receiver or any
Delegate takes possession of the Charged Assets, it may at any time relinquish
possession. Without prejudice to Clause 11.2 (Administrative
Agent’s liability), the Administrative Agent shall not be liable as
a mortgagee in possession by reason of viewing or repairing any of the present
or future assets of the Chargor, except where such liability arises as a result
of the Administrative Agent’s gross negligence or wilful misconduct.

 

11.2                        Administrative Agent’s
liability

 

None of the Administrative Agent, any Receiver or any
Delegate shall (either by reason of taking possession of the Charged Assets or
for any other reason and whether as mortgagee in possession or otherwise) be
liable to the Chargor, any Secured Party or any other person for any costs,
losses, liabilities or expenses relating to the realisation of any Charged
Assets or from any act, default, omission or misconduct of the Administrative
Agent, any Receiver or any Delegate or their respective officers, employees or
agents in relation to the Charged Assets or in connection with this Deed except
to the extent caused by its own gross negligence or wilful misconduct. Any
third party referred to in this Clause 11 may enjoy the benefit or enforce the
terms of this Clause 11 in accordance with the provisions of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

12.                               Power of
Attorney

 

12.1                        Appointment

 

The Chargor by way of security irrevocably appoints
the Administrative Agent, every Receiver and every Delegate severally as its
attorney (with full power of substitution), on its behalf and in its name or
otherwise, at such time and in such manner as the attorney thinks fit:

 

12.1.1              to do anything which the
Chargor is obliged to do (but has not done) under any Loan Document (including
to execute charges over, transfers, conveyances, assignments and assurances of,
and other instruments, notices, orders and directions relating to, the Charged
Assets); and

 

12.1.2              at any time after the
occurrence and during the continuance of an Event of Default, to exercise any
of the rights conferred on the Administrative Agent, any Receiver or any
Delegate in relation to the Charged Assets or under this Deed, either of the
Acts or generally under Singapore law.

 

12.2                        Ratification

 

The Chargor ratifies and confirms and agrees to ratify
and confirm whatever any such attorney shall do or purport to do in the
exercise of the power of attorney granted by it in Clause 12.1 (Appointment). Any third party referred to in this Clause 12
may enjoy the 

 

14

 

benefit or enforce the terms of this Clause 12 in
accordance with the provisions of the Contracts (Rights of Third Parties) Act,
Chapter 53B of Singapore.

 

13.                               Protection of
Third Parties

 

13.1                        No duty to enquire

 

No purchaser or other person dealing with the
Administrative Agent, any other Secured Party, any Receiver or any Delegate
shall be concerned to enquire:

 

13.1.1              whether the powers or rights
conferred by or pursuant to any Loan Document are exercisable;

 

13.1.2              whether any consents,
regulations, restrictions or directions relating to such rights have been
obtained or complied with;

 

13.1.3              otherwise as to the propriety
or regularity of acts purporting or intended to be in exercise of any such
rights (including whether or not any delegation shall have lapsed for any
reason or has been revoked); or

 

13.1.4              as to the application of any
money borrowed or raised.

 

13.2                        Protection to purchasers

 

Upon any sale or disposal of the Charged Assets or any
part thereof which the Administrative Agent, any other Secured Party, any
Receiver or any Delegate shall make under the provisions of this Deed, a
statement in writing from the Administrative Agent, any Receiver or any
Delegate that the Security created by this Deed has become enforceable and that
the power of sale has become exercisable shall be conclusive evidence of the
fact in favour of any purchaser or other person to whom any of the Charged
Assets may be transferred and such purchaser or other person will take the same
free of any rights of the Chargor. The Chargor undertakes to indemnify the
Administrative Agent, any Receiver or any Delegate against any claim which may
be made against the Administrative Agent, any Receiver or any Delegate by such
purchaser or any other person by reason of any defect in its title to the
Charged Assets, provided that such indemnity shall not be available to the
extent that such claim resulted from the gross negligence or wilful misconduct
of the Administrative Agent, any Receiver or any Delegate, as applicable. Any
third party referred to in this Clause 13 may enjoy the benefit or enforce the
terms of this Clause 13 in accordance with the provisions of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

14.                               Saving
Provisions

 

14.1                        Continuing Security

 

Subject to Clause 15 (Discharge of
Security), the Charges are continuing Security and will extend to
the ultimate balance of the Obligations, regardless of any intermediate payment
or discharge in whole or in part.

 

15

 

14.2                        Reinstatement

 

If any payment by the Chargor or any
discharge given by a Secured Party (whether in respect of the obligations of
the Chargor, any person or any Security for those obligations or otherwise) is
avoided or reduced as a result of insolvency or any similar event:

 

14.2.1              the liability of the Chargor
and the Charges shall continue as if the payment, discharge, avoidance or
reduction had not occurred; and

 

14.2.2              that Secured Party shall be
entitled to recover the value or amount of that security or payment from the
Chargor, as if the payment, discharge, avoidance or reduction had not occurred.

 

14.3                        Waiver of defences

 

Neither the obligations of the Chargor under this Deed
nor the Charges will be affected by an act, omission, matter or thing which,
but for this Clause 14, would reduce, release or prejudice any of its
obligations under this Deed or any of the Charges (without limitation and
whether or not known to it or any Secured Party) including:

 

14.3.1              any time, waiver or consent
granted to, or composition with, the Chargor, any other Loan Party or any other
person;

 

14.3.2              the release of the Chargor,
any other Loan Party or any other person under the terms of any composition or
arrangement with any creditor of the Chargor, any other Loan Party or any other
person;

 

14.3.3              the taking, variation,
compromise, exchange, renewal or release of, or refusal or neglect to perfect,
take up or enforce any rights against, or security over assets of, the Chargor,
any other Loan Party or any other person or any non-presentation or
non-observance of any formality or other requirement in respect of any
instrument or any failure to realise the full value of any security;

 

14.3.4              any death, mental or other
incapacity or lack of power, authority or legal personality of or dissolution
or change in the members or status or constitution of the Chargor, any other
Loan Party or any other person;

 

14.3.5              any amendment (however
fundamental) or replacement of a Loan Document or any other document or
security;

 

14.3.6              any unenforceability,
illegality or invalidity of any obligation of any person under any Loan
Document or any other document or security;

 

14.3.7              any insolvency, bankruptcy,
liquidation, Winding-up or similar proceedings;

 

14.3.8              this Deed or any Loan Document
not being executed by or binding upon any person; or

 

14.3.9              any postponement, discharge,
reduction, non-provability or other similar circumstance affecting any
obligation of any Loan Party or other person under any 

 

16

 

Loan Document resulting from any insolvency,
liquidation or dissolution proceedings or from any law, regulation or order.

 

14.4                        Immediate recourse

 

The Chargor waives any right it may have of first
requiring any Secured Party (or any trustee or agent on its behalf) to proceed
against or enforce any other rights or security or claim payment from any
person before claiming from the Chargor under this Deed. This waiver applies
irrespective of any law to the contrary.

 

14.5                        Appropriations

 

Until all the Obligations have been irrevocably paid
in full and all facilities which might give rise to Obligations have
terminated, each Secured Party (or any trustee or agent on its behalf) may:

 

14.5.1              refrain from applying or
enforcing any other moneys, security or rights held or received by that Secured
Party (or any trustee or agent on its behalf) in respect of those amounts, or
apply and enforce the same in such manner and order as it sees fit (whether
against those amounts or otherwise) and the Chargor shall not be entitled to
the benefit of the same; and

 

14.5.2              hold in a suspense account any
moneys received from the Chargor or on account of the Chargor’s liability under
this Deed.

 

14.6                        Deferral of Chargor’s rights

 

14.6.1              Until all the Obligations have
been irrevocably paid in full and all facilities which might give rise to
Obligations have terminated and unless the Administrative Agent otherwise
directs, the Chargor will not exercise any rights which it may have by reason
of performance by it of its obligations under the Loan Documents to take the
benefit (in whole or in part and whether by way of subrogation or otherwise) of
any rights of the Secured Parties under the Loan Documents or of any guarantee
or other security taken pursuant to, or in connection with, the Loan Documents
by any Secured Party.

 

14.6.2              The Chargor hereby agrees that
any claim of indemnification or contribution that the Chargor may have with
respect to a third party shall not decrease the Chargor’s obligations to the
Secured Parties.

 

14.7                        Additional Security

 

The Charges are in addition to and are not in any way
prejudiced by any other guarantees or security now or subsequently held by any
Secured Party.

 

17

 

15.                               Discharge of
Security

 

15.1                        Final redemption

 

Subject to Clause 15.2 (Retention of
security), when all the Loan Document Obligations have been paid in
full in cash, the Commitments have expired or been terminated, the principal
and interest on each Loan and all fees payable under the Loan Documents shall
have been paid in full, all Letters of Credit shall have expired or been
terminated (or otherwise provided for in a manner satisfactory to the
applicable Issuing Bank) and all LC Disbursements shall have been reimbursed,
the Administrative Agent shall at the request and cost of the Chargor release
and discharge the Charged Assets from the Charges.

 

15.2                        Retention of security

 

If the Administrative Agent considers that any amount
paid or credited to any Secured Party under any Loan Document is capable of
being avoided or otherwise set aside on the Winding-up of the Chargor or any
other Loan Party, that amount shall not be considered to have been paid for the
purposes of determining whether all the Loan Document Obligations have been
irrevocably paid.

 

15.3                        Permitted releases

 

If
any asset of the Chargor is disposed of in accordance with the provisions of
the Loan Documents or upon the effectiveness of a written consent to the
release of the security interest granted hereby in any Charged Assets pursuant
to Section 9.02 of the Credit Agreement, that asset shall be automatically
released from the fixed Charge on that asset on that disposal being made and
the Administrative Agent shall, upon the request of the Chargor, take whatever
action is necessary to release such asset from this Security.

 

16.                               Expenses, Stamp
Duty and Interest

 

16.1                        Transaction expenses

 

The Chargor shall within three Business Days of demand
pay the Administrative Agent the amount of all costs, losses, liabilities and
expenses (including legal fees) reasonably incurred by the Administrative Agent
in connection with the negotiation, preparation, printing and execution of this
Deed and any other documents referred to in this Deed.

 

16.2                        Amendment costs

 

If the Chargor requests an amendment, waiver or
consent, the Chargor shall, within three Business Days of demand, reimburse the
Administrative Agent for the amount of all costs, losses, liabilities and
expenses (including legal fees) reasonably incurred by the Administrative Agent
in responding to, evaluating, negotiating or complying with that request.

 

16.3                        Enforcement costs

 

The Chargor shall, within three Business Days of
demand, pay to the Administrative Agent the amount of all costs, losses,
liabilities and expenses (including legal fees) incurred by the Administrative
Agent, any Receiver or any Delegate in relation to any this Deed 

 

18

 

(including the administration, protection,
realisation, enforcement or preservation of any rights under or in connection
with this Deed, or any consideration by the Administrative Agent as to whether
to realise or enforce the same, and/or any amendment, waiver, consent or
release of this Deed and/or any other document referred to in this Deed). Any
third party referred to in this Clause 16 may enjoy the benefit or enforce the
terms of this Clause 16 in accordance with the provisions of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

16.4                        Stamp taxes

 

The Chargor shall pay and, within three Business Days
of demand, indemnify the Administrative Agent against any cost, loss or
liability the Administrative Agent reasonably incurs in relation to all stamp
duty, registration and other similar Taxes payable in respect of this Deed.

 

16.5                        Default interest

 

16.5.1              If the Chargor fails to pay
any amount payable by it under this Deed on its due date, interest shall accrue
at the rate specified in Section 2.12(c)(ii) (Interest)
of the Credit Agreement. Any interest accruing under this Clause 16.5 shall be
immediately payable by the Chargor on demand by the Administrative Agent.

 

16.5.2              Default interest (if unpaid)
arising on an overdue amount will be compounded with the overdue amount at the
end of each interest period applicable to that overdue amount but will remain
immediately due and payable.

 

16.6                        Goods and Services Tax

 

The Chargor shall pay to the Administrative Agent
within three Business Days of demand, in addition to any amount payable by the
Chargor under this Deed, any goods and services or other similar Tax in respect
of that amount (and references in this Deed to that amount shall be deemed to
include any such Taxes payable in addition to it).

 

17.                               Payments

 

17.1                        Demands

 

Any demand for payment made by any Secured Party shall
be effective as a demand for the purposes of this Deed, from the date on which
it is given.

 

17.2                        Payments

 

All payments by the Chargor under this Deed (including
damages for its breach) shall be made in the Currency of Account and to such
account, with such financial institution and in such other manner as the
Administrative Agent may direct.

 

17.3                        Continuation of
accounts

 

At any time after:

 

17.3.1              the receipt by a Secured Party
of notice (either actual or otherwise) of any subsequent Security affecting the
Charged Assets of the Chargor; or

 

19

 

17.3.2              the presentation of a petition
or the passing of a resolution in relation to the Winding-up of the Chargor,

 

any Secured Party may open a new account in the name
of the Chargor with that Secured Party (whether or not it permits any existing
account to continue). If that Secured Party does not open such a new account,
it shall nevertheless be treated as if it had done so when the relevant event
occurred. No moneys paid into any account, whether new or continuing, after
that event shall discharge or reduce the amount recoverable pursuant to any
Loan Document to which the Chargor is party.

 

18.                               Conduct of
business by the Secured Parties

 

No provision of this Deed will:

 

18.1.1              interfere with the right of
any Secured Party to arrange its affairs (tax or otherwise) in whatever manner
it thinks fit;

 

18.1.2              oblige any Secured Party to
investigate or claim any credit, relief, remission or repayment available to it
or the extent, order and manner of any claim; or

 

18.1.3              oblige any Secured Party to
disclose any information relating to its affairs (tax or otherwise) or any
computations in respect of Tax.

 

19.                               Miscellaneous
Indemnities

 

19.1                        Currency indemnity

 

19.1.1              The Chargor’s
obligations under the Loan Documents to make payments in United States Dollars
(the “Obligation Currency”) shall not be
discharged or satisfied by any tender or recovery pursuant to any judgment expressed in
or converted into any currency other than the Obligation Currency, except to
the extent that such tender or recovery results in the effective receipt by the
Administrative Agent of the full amount of the Obligation Currency expressed to
be payable to the Administrative Agent under the Loan Documents. If, for the
purpose of obtaining or enforcing judgment against the Chargor in any court or
in any jurisdiction, it becomes necessary to convert into or from any currency
other than the Obligation Currency (such other currency being hereinafter
referred to as the “Judgment Currency”)
an amount due in the Obligation Currency, the conversion shall be made, at the
rate of exchange (as quoted by the Administrative Agent or, if the
Administrative Agent does not quote a rate of exchange on such currency, by a
known dealer in such currency designated by the Administrative Agent)
determined, in each case, as of the date immediately preceding the day on which
the judgment is given (such Business Day being hereinafter referred to as the “Judgment Currency Conversion Date”).

 

19.1.2              If there is a
change in the rate of exchange prevailing between the Judgment Currency Conversion Date and the
date of actual payment of the amount due, the Chargor covenants and agrees to
pay, or cause to be paid, such additional amounts, if any (but in any event not
a lesser amount), as may be necessary to 

 

20

 

ensure that the amount paid in the Judgment Currency, when converted at
the rate of exchange prevailing on the date of payment, will produce the amount
of the Obligation Currency that could have been purchased with the amount of
Judgment Currency stipulated in the judgment or judicial award at the rate of
exchange prevailing on the Judgment Currency Conversion Date.

 

19.1.3              For purposes of
determining the rate of exchange for this Clause 19.1, such amounts shall
include any premium and costs payable in connection with the purchase
of the Obligation Currency.

 

19.2                        Indemnities separate

 

The indemnity in this Deed shall:

 

19.2.1              not limit any indemnification
provision in any other Loan Document;

 

19.2.2              apply irrespective of any
indulgence granted by any Secured Party;

 

19.2.3              continue in full force and
effect despite any judgment, order, claim or proof for a liquidated amount in
respect of any Obligation or any other judgment or order; and

 

19.2.4              apply whether or not any claim
under it relates to any matter disclosed by the Chargor or otherwise known to
any Secured Party.

 

19.3                        Other Indemnities and protections

 

Except in the case of gross negligence or wilful
misconduct on the part of the Administrative Agent, any Receiver or any
Delegate, the Administrative Agent shall be indemnified by the Chargor from and
against all actions, losses, claims, proceedings, costs, demands and
liabilities which may be suffered by the Administrative Agent by reason of any
failure of the Chargor to perform any of its obligations under this Deed or in
the execution of any of the rights, powers, remedies, authorities or
discretions vested in the Administrative Agent, any Receiver or any Delegate,
under or pursuant to this Deed.

 

20.                               Rights,
Amendments, Waivers and Determinations

 

20.1                        Ambiguity

 

The powers and protections conferred by this Deed in
relation to the Charged Assets or any part thereof on the Administrative Agent
shall be in addition to and not in substitution for the powers and protections
conferred on mortgagees or chargees under the Acts, which shall apply to the
Charges except insofar as they are expressly or impliedly excluded. Where there
is any ambiguity or conflict between the rights or powers conferred by law or
contained in either of the Acts and those conferred by or pursuant to this Deed
or where the powers or protections in this Deed are more extensive or less restrictive
than those provided by either of the Acts, the terms of this Deed shall
prevail.

 

21

 

20.2                        Exercise of rights

 

No failure to exercise, nor any delay in exercising,
on the part of any Secured Party, any Receiver or Delegate, any right or remedy
under this Deed shall operate as a waiver, nor shall any single or partial
exercise of any right or remedy prevent any further or other exercise or the
exercise of any other right or remedy. The rights and remedies provided in this
Deed are cumulative and not exclusive of any rights or remedies provided by
law.

 

20.3                        Amendments and waivers

 

Any term of this Deed may be amended or waived only
with the consent of the Administrative Agent and the Chargor, subject to any
consent of the Lenders required by Section 9.02 of the Credit Agreement.

 

20.4                        Determinations

 

Any determination by or certification of the
Administrative Agent or any Receiver or Delegate of a rate or amount under this
Deed is, in the absence of manifest error, conclusive evidence of the matters
to which it relates.

 

21.                               Separate and
independent obligations

 

The Security created by the Chargor by or in
connection with any Loan Document is separate from and independent of any other
Security created or intended to be created by any other provider of Security by
or in connection with any Loan Document.

 

22.                               Benefit of
Security

 

22.1                        Benefit and Burden

 

This Deed shall be binding upon and enure to the
benefit of each Party and its successors and assigns.

 

22.2                        The Chargor

 

The Chargor may not assign or transfer all or any of
its rights, benefits and obligations under this Deed except as permitted by
this Deed or the other Loan Documents.

 

22.3                        The Administrative
Agent

 

The Administrative Agent may assign all or part of its
rights under this Deed or transfer all or part of its obligations under this
Deed in accordance with the terms of the Credit Agreement without the consent
of the Chargor. Any such assignee or transferee shall be and be treated as a
party for all purposes of this Deed and shall be entitled to the full benefit
of this Deed to the same extent as if it were an original party in respect of
the rights or obligations assigned or transferred to it.

 

23.                               Partial
Invalidity

 

If, at any time, any provision of this Deed is or
becomes illegal, invalid or unenforceable in any respect under any law of any
jurisdiction, neither the legality, validity or enforceability 

 

22

 

of the remaining provisions nor the legality, validity
or enforceability of such provision under the law of any other jurisdiction
will in any way be affected or impaired.

 

24.                               Notices

 

24.1                        Communications

 

Any communication to be
made under or in connection with this Deed may be made by fax or letter or,
subject to Clause 24.3 (Delivery), be
delivered or furnished by electronic communication (including e-mail and
Internet or intranet websites) pursuant to procedures approved by the
Administrative Agent.

 

24.2                        Addresses

 

The address and fax number
(and the department or officer, if any, for whose attention the communication
is to be made) of each Party for any communication or document to be made or
delivered under or in connection with this Deed is that identified with its
name below, or any substitute address, fax number or department or officer as
the Party may notify to the other Party.

 

24.3                        Delivery

 

Either Party may change its address or fax
number for notices and other communications hereunder by notice to the other
Party. The Administrative Agent or the Chargor may, in its discretion, agree to
accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of
such procedures may be limited to particular notices or communications. All
notices and other communications given to any party hereto in accordance with
the provisions of this Deed shall be deemed to have been given on the date of
receipt.

 

25.                               Counterparts

 

This Deed may be executed in any number of counterparts,
and this has the same effect as if the signatures on the counterparts were on a
single copy of this Deed. Delivery of an executed counterpart of a signature page of
this Deed by telecopy or Adobe pdf transmission shall be effective as delivery
of a manually executed counterpart of this Deed.

 

26.                               Governing Law

 

This Deed shall be governed by, and construed in
accordance with the laws of Singapore.

 

23

 

27.                               Jurisdiction

 

27.1                        Jurisdiction of Singapore courts

 

27.1.1              The courts of Singapore have
exclusive jurisdiction to settle any dispute arising out of or in connection
with this Deed (including a dispute regarding the existence, validity or
termination of this Deed) (a “Dispute”).

 

27.1.2              The Parties agree that the
courts of Singapore are the most appropriate and convenient courts to settle
Disputes and accordingly no Party will argue to the contrary.

 

27.2                        Service of process

 

Without prejudice to any other mode of service allowed
under any relevant law, the Chargor:

 

27.2.1              irrevocably appoints Seagate
Singapore International Headquarters Pte. Ltd. as its agent for service of
process in relation to any proceedings before the Singapore courts in connection
with this Deed; and

 

27.2.2              agrees that failure by a
process agent to notify the Chargor of the process will not invalidate the
proceedings concerned.

 

This Deed has been entered into on the date stated at the beginning of
this Deed.

 

24

 

Schedule
1

 

-
Rights of Receivers

 

Any Receiver appointed pursuant to Clause 8 (Appointment and Rights of
Receivers) shall have the right, either in its own name or in the
name of the Chargor or otherwise and in such manner and upon such terms and
conditions as the Receiver thinks fit, and either alone or jointly with any
other person:

 

(a)                                  Take possession

 

to take possession of the Charged Assets, and to
require payment to it of all Dividends;

 

(b)                                 Deal with Charged Assets

 

to sell, transfer, assign, exchange or otherwise
dispose of or realise the Charged Assets to any person either by public offer
or auction, tender or private contract and for a consideration of any kind
(which may be payable or delivered in one amount or by instalments spread over
a period or deferred);

 

(c)                                  Borrow money

 

to borrow or raise money either unsecured or on the
security of the Charged Assets (either in priority to the Charges or
otherwise);

 

(d)                                 Rights of ownership

 

to exercise and do (or permit the Chargor or any
nominee of it to exercise and do) all such rights and things as the Receiver
would be capable of exercising or doing if it were the absolute beneficial
owner of the Charged Assets;

 

(e)                                  Claims

 

to settle, adjust, refer to arbitration, compromise
and arrange any claims, accounts, disputes, questions and demands with or by
any person relating to the Charged Assets;

 

(f)                                    Legal actions

 

to bring, prosecute, enforce, defend and abandon
actions, suits and proceedings in relation to the Charged Assets;

 

(g)                                 Redemption of Security

 

to redeem any Security (whether or not having priority
to the Charges) over the Charged Assets and to settle the accounts of any
person with an interest in the Charged Assets; and

 

25

 

(h)                                 Other powers

 

to do anything else it may think fit for the
realisation of the Charged Assets or incidental to the exercise of any of the
rights conferred on the Receiver under or by virtue of any Loan Document to
which the Chargor is party, the Property Act or any laws or regulations.

 

26

 

Schedule
2

 

-
Shares

 

500,001
issued and fully paid up ordinary shares in the capital of the Charged Company.

 

27

 

In
witness whereof this Deed has been executed by the parties hereto on
the date stated at the beginning.

 

 

	
  EXECUTED AS A DEED by SEAGATE

  	
     )

  	
   

  
	
   

  	
   

  	
   

  
	
  TECHNOLOGY INTERNATIONAL

  	
     )

  	
   

  
	
  in
  the presence of

  	
     )

  	
  /s/
  Patrick J. O’Malley

  
	
   

  	
     )

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
     )

  	
  Name:
  Patrick J. O’Malley

  
	
   

  	
   

  	
   

  
	
  /s/
  Saralyn Brown

  	
     )

  	
  Title:
    EVP & Chief Financial
  Officer

  
	
  Signature
  of witness

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:
  Saralyn Brown

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:
  920 Disc Drive

  	
   

  	
   

  
	
  Scotts Valley, CA 95066

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Occupation:
  Executive Assistant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:
  

  	
  Seagate
  Technology

  	
   

  	
   

  
	
   

  	
  920
  Disc Drive

  	
   

  	
   

  
	
   

  	
  Scotts
  Valley, CA 95066

  	
   

  	
   

  
	
   

  	
  United
  States of America

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Fax No.: 

  	
  +1 (831) 438-6675

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Attention:
  

  	
  General
  Counsel

  	
   

  	
   

  

 

 

	
  The Administrative Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED,
  SEALED AND DELIVERED

  	
   

  
	
  by

  	
   

  
	
  as
  attorney for and on behalf of

  	
   

  
	
  JPMORGAN CHASE BANK, N.A. 

  	
  /s/
  Sharon Bazbaz

  
	
  in
  the presence of: 

  	
  Signature

  
	
   

  	
   

  
	
   

  	
  Name:
  Sharon Bazbaz

  
	
   

  	
   

  
	
  /s/
  Donna Wisnieski 

  	
   

  	
  Title:
  Vice President

  
	
  Witness’s
  signature

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name
  of Witness: Donna Wisnieski

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:
  Administrative Assistant

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:
  

  	
  JPMorgan,
  Chase Bank, N.A.

  
	
   

  	
  Loan
  and Agency Services Group, 1111 Fannin Street, 10th Floor

  
	
   

  	
  Houston,
  Texas, 77002

  
	
   

  	
   

  
	
  Fax No.: 

  	
  (831) 439-2353

  
	
   

  	
   

  
	
  Attention: 

  	
  Sofia Basraoui

  
	
   

  	
   

  
	
   

  	
   

  
	
  With a copy to:

  
	
   

  	
   

  
	
  Address:  

  	
  JPMorgan,
  Chase Bank, N.A.

  
	
   

  	
  270
  Park Avenue

  
	
   

  	
  New
  York, New York, 10017

  
	
   

  	
   

  
	
  Fax
  No.: 

  	
  (212)
  270-5127

  
	
   

  	
   

  
	
  Attention:
  

  	
  Sharon
  BazbazExhibit 10.2

 

 

EXECUTION COPY

 

 

Dated 25 September 2009

 

 

SEAGATE TECHNOLOGY INTERNATIONAL

 

as the Chargor

 

 

in favour of

 

 

WELLS FARGO BANK, NATIONAL
ASSOCIATION

 

as
Collateral Agent

 

 

SECOND PRIORITY SHARE CHARGE

 

 

ALLEN & GLEDHILL LLP

ONE MARINA BOULEVARD #28-00

SINGAPORE 018989

 

 

TABLE OF CONTENTS

 

	
  Contents

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
  Definitions and
  Interpretation

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  Security

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  Restrictions and Further
  Assurance

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  Charged Shares

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  General Undertakings

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  Representations and
  Warranties

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  Enforcement

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  Appointment and Rights of
  Receivers

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  Collateral Agent’s Rights

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  Order of Distributions

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  Liability of Collateral
  Agent, Receivers and Delegates

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  Power of Attorney

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
  Protection of Third
  Parties

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
  Saving Provisions

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  
	
  15.

  	
  Discharge of Security

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
  Expenses, Stamp Duty and
  Interest

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  
	
  17.

  	
  Payments

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  
	
  18.

  	
  Conduct of business by the
  Secured Parties

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  
	
  19.

  	
  Miscellaneous Indemnities

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  
	
  20.

  	
  Rights, Amendments,
  Waivers and Determinations

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  
	
  21.

  	
  Separate and independent
  obligations

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  22.

  	
  Benefit of Security

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
  Partial Invalidity

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  24.

  	
  Notices

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  25.

  	
  Counterparts

  	
   

  	
  24

  

 

i

 

	
  Contents

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  26.

  	
  Governing Law

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  
	
  27.

  	
  Jurisdiction

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  
	
  28.

  	
  The Collateral Agent;
  Limitation on Duty of Collateral Agent in Respect of Charged Assets

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  
	
  29.

  	
  Intercreditor Agreement

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  
	
  Schedule 1

  	
  Rights of Receivers

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  
	
  Schedule 2

  	
  Shares

  	
   

  	
  29

  
					

 

ii

 

This
Deed is made on 25 September 2009
between: 

 

(1)                                 Seagate
Technology International, an exempted company with
limited liability incorporated under the laws of the Cayman Islands  (the “Chargor”) as
the chargor; and 

 

(2)                                 Wells
Fargo Bank, National Association (the “Collateral Agent”) as collateral agent for and on behalf of
the Secured Parties (as defined below) pursuant to the Indenture (as defined
below). 

 

Background  

 

(A)                              Pursuant
to the Indenture, the Chargor, as the issuer (the “Issuer”)
has issued US$430,000,000 in aggregate principal amount of its 10.00% senior
secured second-priority notes due 2014, secured by way of security granted by
the Chargor on the terms and conditions contained in the Indenture Documents
(as defined below), subject only to the prior ranking security created by the
First Priority Share Charge (as defined below). 

 

(B)                                As
security for the Obligations (as defined below), the Chargor has agreed to
assign and charge by way of security in favour of the Collateral Agent for the
benefit of the Secured Parties, inter alia, all
of its legal and beneficial interest in the Charged Assets, subject only to the
prior ranking security created under the First Priority Share Charge. 

 

(C)                                The
security interests granted hereunder in respect of the Charged Assets are
subject to the terms, conditions and provisions of the Intercreditor Agreement
(as defined below) in all respects. 

 

(D)                               The
Board of Directors of the Chargor is satisfied that entering into this Deed is
for the purposes and to the benefit of the Chargor and its business. 

 

(E)                                 The
Collateral Agent is entering into this Deed on behalf of itself and the other
Secured Parties. 

 

It
is agreed as follows: 

 

1.                                      Definitions and Interpretation  

 

1.1                               Definitions  

 

In this
Deed, unless a contrary indication appears, terms used in the Indenture have
the same meaning and construction. In addition: 

 

“Acts” means the Companies Act and the
Property Act. 

 

“Authorisation” means an authorisation, consent, approval,
resolution, licence, exemption, filing, notarisation, lodgement or
registration. 

 

“Bank Account” has the meaning given to it in the Second Priority
Debenture. 

 

 

“Charged Assets” means the assets from time to time subject,
or expressed to be subject, to the Charges or any part of those assets. 

 

“Charged Company” means Seagate Singapore International
Headquarters Pte. Ltd., a company incorporated under the laws of Singapore,
with company registration number 199700025H. 

 

“Charges” means all or any of the Security created or
expressed to be created by or pursuant to this Deed. 

 

“Companies Act” means the Companies Act, Chapter 50 of
Singapore. 

 

“Currency of Account” means the currency in which the
relevant indebtedness is denominated or, if different, is payable. 

 

“Default Notice” means a notice sent by the Trustee or the
Holders to the Issuer pursuant to Section 6.02 of the Indenture, after an occurrence
and during the continuance of an Event of Default (as defined in the
Indenture). 

 

“Delegate” means a delegate or sub-delegate appointed under
Clause 9.2 (Delegation). 

 

“Dividends” means, in relation to any Share, all present and
future: 

 

(a)                                  dividends and distributions of any kind and any other sum received
or receivable in respect of that Share; 

 

(b)                                 rights, shares, money or other assets accruing or offered by way of conversion,
exchange, redemption, bonus, preference, option or otherwise in respect of that
Share; 

 

(c)                                  allotments, offers and rights accruing or offered in respect of or
in substitution for that Share; and 

 

(d)                                 other rights and assets attaching to, deriving from or exercisable
by virtue of the ownership of that Share. 

 

“First Priority Representative” has the meaning given to it
in the Intercreditor Agreement. 

 

“First Priority Share Charge” means the
first ranking share charge dated on or about the date of this Deed and entered
into between the Chargor, as chargor and JPMorgan Chase Bank, N.A. as
administrative agent. 

 

“Indenture” means the Indenture dated 1 May 2009
and made among (1) the Issuer, (2) Seagate Technology, (3) Wells
Fargo Bank, National Association, as the trustee and (4) the other
guarantors party thereto. 

 

“Indenture Documents” has the meaning given
to it in the U.S. Security Agreement. 

 

2

 

“Intercreditor Agreement” means the
agreement dated 1 May 2009 made among (1) JPMorgan Chase Bank, N.A., (2) the
Collateral Agent, (3) Seagate Technology HDD Holdings, (4) the Issuer
and (5) the other Loan Parties (as defined therein). 

 

“Material Adverse Effect” shall mean a material adverse
effect on (a) the business, assets, operations, properties or financial
condition of Seagate Technology and its Subsidiaries, taken as a whole, (b) the
ability of Seagate Technology and the Issuer to perform their obligations under
the Indenture Documents or (c) any material rights of or benefits
available to the Holders under the Indenture Documents. 

 

“Notes Party” or “Notes
Parties” has the
meaning given to it in the U.S. Security Agreement. 

 

“Obligations” has the meaning ascribed to “Secured
Obligations” in the U.S. Security Agreement. 

 

“Party” means a party to this Deed. 

 

“Perfection Agent” shall mean (i) prior to the First
Priority Obligations Payment Date (as defined in the Intercreditor Agreement),
the First Priority Representative (including, with respect to any Charged
Assets (including the Shares) delivered or held by the Perfection Agent
hereunder, for the benefit of the Secured Parties pursuant to Section 2.3(b) of
the Intercreditor Agreement) and (ii) thereafter, the Collateral Agent. 

 

“Property Act” means the Conveyancing and Law of Property
Act, Chapter 61 of Singapore. 

 

“Receiver” means a receiver, receiver and manager, judicial
manager or other manager appointed in respect of the Charged Assets. 

 

“Second Priority  Debenture”
means the second ranking debenture dated on or about the date of this Deed and
entered into between Seagate
Singapore International Headquarters Pte. Ltd., as chargor and the Collateral
Agent, as collateral agent. 

 

“Secured Party” or “Secured Parties” has the meaning given to
it in the U.S. Security Agreement. 

 

“Security” means a mortgage, charge, pledge, lien or other
security interest securing any obligation of any person or any other agreement
or arrangement having a similar effect. 

 

“Security Documents”
shall have the meaning given to it in the U.S. Security Agreement. 

 

“Shares” means: 

 

(a)                                  all present and future shares in the Charged Company, including the
shares issued and outstanding at the date of this Deed described in Schedule 2
(Shares); 

 

(b)                                 all rights relating to any of the shares described in paragraph (a) above
which are deposited with, or registered in the name of, any depositary,
custodian, nominee,  

 

3

 

clearing house
or system, investment manager, chargee or other similar person or their
nominee, in each case whether or not on a fungible basis (including rights
against any such person); 

 

(c)                                  all warrants, options or other rights to subscribe for, purchase or
otherwise acquire any of the shares described in paragraph (a) above; and 

 

(d)                                 all other rights attaching or relating to any of the shares
described in paragraph (a) above, and all cash or other securities or
investments in the future deriving from any of those shares or such rights, 

 

in each case
now or in the future owned by the Chargor or (to the extent of its interest) in
which it now or in the future has an interest. 

 

“Tax” means any tax, levy, impost, duty or other charge or
withholding of a similar nature (including any penalty or interest payable in
connection with any failure to pay or any delay in paying any of the same). 

 

“U.S. Security Agreement” means the second
lien U.S. security agreement dated 1 May 2009 made among (1) Seagate
Technology, (2) the Issuer, (3) the Collateral Agent and (4) each
of the other subsidiaries of Seagate Technology listed in Schedule I thereto. 

 

“Winding-up” means winding up, amalgamation,
reconstruction, administration, dissolution, liquidation, merger or
consolidation or any analogous procedure or step in any jurisdiction. 

 

1.2                               Construction  

 

The provisions
in Section 1.02 (Rules of Construction)
of the Indenture apply to this Deed with all necessary changes. In addition,
unless a contrary indication appears, any reference in this Deed to: 

 

1.2.1                     “assets” includes present and
future properties, revenues and rights of every description; 

 

1.2.2                     the “Chargor”, the “Collateral Agent”, the “Perfection Agent” or any “Party”
shall be construed so as to include its successors in title, permitted assigns
and permitted transferees; 

 

1.2.3                     this “Deed” shall be
construed as a reference to this Deed as amended, modified or supplemented from
time to time and shall include any document which is supplemental hereto or
which is entered into for the purposes of perfecting or protecting the security
constituted by this Deed; 

 

1.2.4                     the “Indenture” or “Indenture Document” or any other agreement or instrument is
a reference to those documents or other agreement or instrument as amended,
supplemented, restated or otherwise modified (subject to any restrictions on
such amendments and restatements, supplements or modifications set forth in
those documents); 

 

4

 

1.2.5                     “indebtedness” includes any
obligation (whether incurred as principal or as surety) for the payment or
repayment of money, whether present or future, actual or contingent; 

 

1.2.6                     a “person” includes any person, firm,
company, corporation, government, state or agency of a state or any
association, trust or partnership (whether or not having separate legal
personality) or two or more of the foregoing; 

 

1.2.7                     a “regulation” includes any
regulation, rule, official directive, request or guideline (whether or not
having the force of law) of any governmental, intergovernmental or
supranational body, agency, department or regulatory, self-regulatory or other
authority or organisation; and 

 

1.2.8                     a provision of law is a reference to that provision as amended or
re-enacted. 

 

For the
avoidance of doubt, this Deed is a “Security Agreement” under the terms of the
Indenture. 

 

1.3                               Ambiguity or
Conflict

 

Where there is
any ambiguity or conflict between the provisions of the Indenture and this
Deed, then the provisions of the Indenture shall prevail. 

 

1.4                               Third Party
Rights

 

1.4.1                     Unless
expressly provided to the contrary, a person who is not a Party has no right
under the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore to
enforce or enjoy the benefit of any term of this Deed, provided that the terms
of this Deed shall inure to the benefit of the Secured Parties. 

 

1.4.2                     Notwithstanding
any term of this Deed, the consent of any third party is not required for any
variation (including any release or compromise of any liability under) or
termination of this Deed. 

 

2.                                      Security 

 

2.1                               Equitable
Charge

 

The Chargor,
as legal and beneficial owner of the Shares and Dividends, and as a continuing
security for the payment of all Obligations, charges in favour of the
Collateral Agent by way of second fixed charge, and assigns and agrees to
assign absolutely to the Collateral Agent, free from all Security (other than
the First Priority Share Charge and as permitted by the Indenture), all its
rights, title and interest in and to, all present and future Shares and
Dividends provided
that no Security shall be granted under this Clause 2.1, if:  

 

2.1.1                     granting such Security would:  

 

(A)                              violate the law of the jurisdiction in which the Charged Assets are
located or the law of the jurisdiction where the person owning such asset or
property is organised; 

 

5

 

(B)                                violate the terms of any material contract binding on the Chargor,
Seagate Technology or any other Guarantor (but only to the extent that the
restrictions in all such contracts, taken as a whole, do not materially limit
the Collateral that would otherwise be pledged pursuant to the Collateral
Requirement to secure the Obligations); or 

 

(C)                                result
in a material adverse tax consequence to the Chargor granting such security
interest (as reasonably determined by the Board of Directors of Seagate
Technology); or 

 

2.1.2                     the cost to the Chargor, Seagate
Technology or any other Guarantor of granting and perfecting such security
interest would be excessive in view of the related benefits to be received by
the Secured Parties therefrom (as determined reasonably by the Board of
Directors of Seagate Technology),  

 

provided,
however, that, notwithstanding clause 2.1.1 above and this clause 2.1.2, the
Chargor shall grant a security interest in such Charged Assets and execute such
documentation and take such actions required to perfect any such security
interest, as the case may be: 

 

(a)                                  to the extent that the Chargor grants such security interest or
executes such documentation or takes any such other action for perfection
thereof for the benefit of the First Priority Representative under the Senior
Credit Facility, and 

 

(b)                                 in accordance with the provisions of Section 11.01(g) of
the Indenture. 

 

2.2                               Share
Certificates etc.

 

The Chargor
has delivered, as of the date of this Deed or, in the case of Shares acquired
after the date of this Deed, shall deliver on the date of such acquisition
deliver to the Perfection Agent, or as it directs: 

 

(a)                                  all certificates representing the Shares; 

 

(b)                                 stamped transfers of the Shares executed in blank; 

 

(c)                                  a certified copy of
the Chargor’s Register of Mortgages and Charges which has been updated to
record the particulars of this Mortgage in a form reasonably satisfactory to
the Perfection Agent; and 

 

(d)                                 any other documents
relating to the Shares which the Perfection Agent reasonably requires. 

 

3.                                      Restrictions
and Further Assurance 

 

3.1                               Security  

 

Other than as
permitted or contemplated by the Indenture Documents and save in respect of the
First Priority Share Charge, the Chargor shall not create or permit to subsist
any Security over any Charged Asset, nor do anything else prohibited by
Sections 4.08  

 

6

 

(Limitation on Liens) and 4.20 (Actions Taken Under the Senior Credit Facility)
of the Indenture, except as permitted by those provisions. 

 

3.2                               Disposal  

 

The Chargor
shall not (and shall not agree to) enter into a single transaction or a series
of transactions (whether related or not and whether voluntary or involuntary)
to sell, lease, transfer or otherwise dispose of any Charged Asset, nor do
anything else prohibited by Section 4.13 (Limitation
on Asset Sales) and Article 5 (Consolidation,
Merger or Sale of Assets) of the Indenture, except as permitted by
those provisions, and, in the case of Dividends, as permitted by Clause 4.3 (Dividends before the receipt of a Default Notice by the Issuer).

 

3.3                               Rights Issues, etc.  

 

Subject to the
terms, conditions and provisions of the Intercreditor Agreement, the Chargor
shall within three (3) Business Days of demand, duly pay all calls, subscription
moneys and/or other moneys payable on or in respect of the Charged Assets. If
the Chargor does not do so, the Collateral Agent may do so and, if the
Collateral Agent does so, the Chargor shall within three (3) Business Days
of demand indemnify the Collateral Agent against such payment together with
interest thereon for the period beginning on the date of such payment and
ending on the date on which the Collateral Agent has been indemnified in full
by the Chargor calculated at the rate per annum publicly announced by the
Collateral Agent as its prime rate in effect at its principal office on the
date of such demand. 

 

3.4                               Further
Assurance

 

The Chargor
shall promptly do whatever is necessary to create, maintain and perfect the
Security created under this Deed and whatever else the Collateral Agent
reasonably requires: 

 

(a)                                  to
perfect or protect the Charges or the priority of the Charges; or 

 

(b)                                 to
facilitate the realisation of the Charged Assets or the exercise of any rights
vested in the Collateral Agent or any Delegate, 

 

including
executing any transfer, conveyance, charge, assignment or assurance of the
Charged Assets (whether to the Collateral Agent or its nominees or otherwise),
making any registration and giving any notice, order or direction. 

 

4.                                      Charged Shares 

 

4.1                               Voting and
other rights before the receipt of a Default Notice by the Issuer  

 

Subject to
Clause 4.2 (Voting and other rights after the receipt of a
Default Notice by the Issuer), the Chargor shall be entitled to
exercise or direct the exercise of the voting and other rights attached to any
Share as it sees fit provided that: 

 

4.1.1                     it does so for a purpose not inconsistent with any Indenture
Document; and 

 

7

 

4.1.2                     the exercise
of or failure to exercise those rights would not materially impair the
collateral or materially and adversely affect the rights and remedies of any
Secured Party under any Indenture Document.

 

4.2                               Voting and
other rights after the receipt of a Default Notice by the
Issuer

 

Subject to the
terms, conditions and provisions of the Intercreditor Agreement, at any time
after the receipt of a Default Notice by the Issuer:

 

4.2.1                     the Perfection Agent shall be entitled to exercise or direct the exercise
of the voting and other rights attached to any Share as it reasonably sees fit
provided that unless otherwise directed by the Required Lenders (as defined in
the Senior Credit Facility) or the Holders, as applicable, the Perfection Agent
shall have the right to permit the Chargor to exercise such rights; and

 

4.2.2                     the Chargor shall comply or procure the compliance with any
directions of the Perfection Agent in respect of the exercise of those rights
and shall promptly execute and/or deliver to the Perfection Agent such forms of
proxy as it or he requires with a view to enabling such person as it or he
selects to exercise those rights.

 

4.3                               Dividends
before the receipt of a Default Notice by the Issuer

 

Subject to
Clause 4.4 (Dividends after the receipt of a Default Notice
by the Issuer), the Chargor shall be entitled to retain all cash
income paid or payable on any Share and the Perfection Agent shall (or, as the
case may be, ensure that its nominee shall) pay any cash income derived from
the Shares of the Chargor to the Chargor. If any cash income is received by (or paid to) the Chargor (or as it may
direct) pursuant to this Clause 4.3, that amount shall be automatically
released from the Security created under this Deed on such amount being
received by (or, as the case may be, being paid to) the Chargor , to the extent
that such amount is not paid or deposited into a Bank Account.

 

4.4                               Dividends
after the receipt of a Default Notice by the Issuer

 

4.4.1                     Subject to the terms, conditions and provisions of the Intercreditor
Agreement, upon and at any time after the receipt of a Default Notice by the
Issuer, the Perfection Agent (or, as the case may be, its nominee) shall be
entitled to retain any cash income received by it and apply the same in or towards
the payment of the Obligations in accordance with Clause 10 (Order of Distributions).

 

4.4.2                     After all Events of Default have been cured or waived, the
Perfection Agent shall promptly repay to the Chargor all cash income paid on
any Share that the Chargor would otherwise be permitted to retain pursuant to
the terms of the Clause 4.3 (Dividends before the
receipt of a Default Notice by the Issuer) and that have not been
applied in accordance with Clause 10 (Order of Distributions).

 

4.5                               Acquisition of
Shares

 

The Chargor
shall promptly notify the Collateral Agent of:

 

8

 

4.5.1                     its acquisition of any Shares; and

 

4.5.2                     after the receipt of a Default Notice by the Issuer, the
declaration, payment, allotment, offer or issue of any Dividend.

 

4.6                               Communications

 

After the
receipt of a Default Notice by the Issuer, the Chargor shall promptly deliver
to the Collateral Agent a copy of every circular, notice, report, set of
accounts or other documents received by it or its nominee in connection with
the Shares or in connection with or from the issuer of any of the Shares.

 

4.7                               Power of
Attorney

 

Upon the occurrence of
an Event of Default which is continuing, if any Share is not held in the
Chargor’s name other than pursuant to this Deed, the Chargor shall promptly
execute and deliver to the Perfection Agent an irrevocable power of attorney,
expressed to be given by way of security and executed as a deed by the person
in whose name that Share is held. That power of attorney shall appoint the
Perfection Agent and every Delegate the attorney of the holder and shall be in
such form as the Perfection Agent requires.

 

5.                                      General
Undertakings

 

5.1                               Authorisations

 

The Chargor
shall promptly:

 

5.1.1                     obtain, comply with and do all that is necessary to maintain in full
force and effect; and

 

5.1.2                     if reasonably requested by the Collateral Agent, supply certified
copies to the Collateral Agent of,

 

any
Authorisation required under any law or regulation of its jurisdiction of
incorporation to enable it to perform its obligations under this Deed and to
ensure the legality, validity, enforceability or admissibility in evidence in
its jurisdiction of incorporation of this Deed.

 

5.2                               Compliance with
laws

 

The Chargor shall
comply in all respects with all laws to which it may be subject, except where
the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.

 

5.3                               Protection
of security

 

The Chargor shall take
any commercially reasonable actions necessary to defend title to the Charged
Assets against all persons and to defend the security interest of the
Collateral Agent and the priority thereof against any charge not expressly
permitted 

 

9

 

pursuant to 4.08 (Limitation on Liens) and 4.20 (Actions Taken Under the Senior Credit Facility) of the
Indenture.

 

6.                                      Representations
and Warranties

 

The Chargor
makes the representations and warranties set out in this Clause 6 to the Collateral
Agent on the date of this Deed.

 

6.1                               Status

 

It is an exempted limited liability company, duly incorporated and
validly existing under the laws of Cayman Islands and has the power to own its
assets and carry on its business as it is being, and is proposed to be,
conducted.

 

6.2                               Binding
obligations

 

The
obligations expressed to be assumed by it in this Deed are legal, valid,
binding and enforceable, subject to the requirements specified at the end of
Clause 6.5 (Validity and admissibility in evidence).

 

6.3                               Non-conflict
with other obligations

 

The entry into
and performance by it of this Deed, and the transactions contemplated by this
Deed, do not and will not conflict with:

 

6.3.1                     any law or
regulation applicable to it;

 

6.3.2                     its
constitutional documents; or

 

6.3.3                     any agreement
or instrument binding upon it or any of its assets or constitute a default or
termination event (however described) under any such agreement or instrument,
the breach of which would reasonably be expected to have a Material Adverse
Effect,

 

6.3.4                     nor (except
as provided in any Security Document) result in the existence of, or oblige it
to create, any Security over any of its assets.

 

6.4                               Power
and authority

 

It has the
power to enter into, perform and deliver, and has taken all necessary action to
authorise its entry into, performance and delivery of, the Indenture Documents
to which it is a party and the transactions contemplated by those Indenture
Documents.

 

6.5                               Validity
and admissibility in evidence

 

All
Authorisations required:

 

6.5.1                     to enable it
lawfully to enter into, exercise its rights under and comply with its
obligations in this Deed;

 

6.5.2                     to make this
Deed admissible in evidence in Singapore; and

 

10

 

6.5.3                     to enable it
to create the Security purported to be created by it pursuant to this Deed and
to ensure that such Security has the priority and ranking it is expressed to
have,

 

have been
obtained or effected and are in full force and effect (or, in each case, will be
obtained or effected when required) save for the making of the appropriate
registrations of this Deed with the Accounting and Corporate Regulatory
Authority of Singapore and the payment of stamp duty in the amount of up to
S$500 payable in Singapore in respect of the stamping of this Deed.

 

6.6                               No
existing Security

 

Except for the
Charges, and as provided in this Deed or the First Priority Share Charge, and
as otherwise permitted under the Indenture Documents, no Security exists on or
over the Charged Assets.

 

6.7                               Beneficial
Ownership

 

Except
as provided in this Deed including, without limitation, Clause 3.2 (Disposal) and save in respect of the First
Priority Share Charge, the Chargor has not assigned, transferred or otherwise
disposed of the Charged Assets (or its right, title and interest to or in the
Charged Assets), either in whole or in part, nor agreed to do so, and will not
at any time do so or agree to do so (except as permitted by the Indenture
Documents). Save as permitted by the Indenture Documents or this Deed, the
Chargor has good title to the Charged Assets material to its business, except
for any minor defects in title that do not interfere with its ability to
conduct its business as currently conducted or to utilise such Charged Assets
for their intended purposes subject to liens permitted under the Indenture.

 

6.8                               Immunity

 

Neither the Chargor nor any of its assets is entitled to immunity from
suit, execution, attachment or other legal process and in any proceedings taken
in Singapore in relation to this Deed, it will not be entitled to claim
immunity for itself or any of its assets, arising from suit, execution or other
legal process.

 

6.9                               Consents

 

It has obtained all
consents necessary to grant the Security under this Deed, to enter into this
Deed and to ensure that no other party to any agreement or arrangement entered
into by the Chargor becomes entitled to terminate such agreement or arrangement
as a consequence of the Chargor entering into this Deed.

 

6.10                        Shares Fully
Paid etc.

 

The Shares are
duly authorised, validly issued and fully paid, non-assessable and freely
transferable and constitute shares in the capital of limited companies. There
are no moneys or liabilities outstanding or payable in respect of any of the
Shares.

 

11

 

6.11                        Ranking

 

In accordance
with and subject to the terms, conditions and provisions of the Intercreditor
Agreement:

 

6.11.1              this Deed creates in favour of the Collateral Agent the Security
which it is expressed to create with the ranking and priority it is expressed
to have; and

 

6.11.2              without limiting Clause 6.11.1 above, the Chargor’s payment
obligations under the Indenture Documents rank at least pari passu
with the claims of all its other unsecured and unsubordinated creditors, except
for obligations mandatorily preferred by law applying to companies.

 

6.12                        Share Capital

 

The Shares
constitute all the share capital in the Charged Company and no person has or is
entitled to any conditional or unconditional option, warrant or other right to
subscribe for, purchase or otherwise acquire any issued or unissued shares, or
any interest in shares, in the capital of the Charged Company.

 

7.                                      Enforcement

 

7.1                               Enforceability
of Security

 

As between the
Chargor and the Collateral Agent, the Charges shall be enforceable, and the
power of sale and other powers conferred by Section 24 of the Property Act
(as varied and extended by this Deed) and all the other powers conferred on the
Collateral Agent by this Deed shall be exercisable at any time after the
occurrence and during the continuance of an Event of Default and in accordance
with the terms of the Intercreditor Agreement.

 

7.2                               Power
of sale

 

The statutory
power of sale, of appointing a Receiver and the other statutory powers
conferred on mortgagees by Section 24 of the Property Act as varied and
extended by this Deed shall arise on or after the occurrence and during the
continuance of an Event of Default and may be exercised by the Collateral Agent
in accordance with the terms of the Intercreditor Agreement free from the
restrictions imposed by Section 25 of the Property Act.

 

7.3                               Consolidation

 

Section 21
of the Property Act shall not apply to this Deed.

 

7.4                               Section 25
of the Property Act

 

Section 25
of the Property Act shall not apply to this Deed.

 

7.5                               No
Liability as mortgagee in possession

 

Nothing done
by or on behalf of the Collateral Agent pursuant to this Deed shall render it
liable to account as a mortgagee in possession for any sums other than actual
receipts 

 

12

 

save for any
loss arising from the gross negligence or wilful misconduct of the Collateral
Agent.

 

8.                                      Appointment and
Rights of Receivers

 

8.1                               Appointment
of Receivers

 

Subject to the
terms, conditions and provisions of the Intercreditor Agreement, if:

 

8.1.1                     requested by the Chargor; or

 

8.1.2                     after the occurrence and during the continuance of an Event of
Default (whether or not the Collateral Agent has taken possession of the
Charged Assets):

 

without any notice or further notice, the
Collateral Agent may, by deed, or otherwise in writing signed by any officer or
manager of the Collateral Agent or any person authorised for this purpose by
the Collateral Agent, appoint one or more persons to be a Receiver. Subject to
the provisions of the Companies Act, the Collateral Agent may similarly remove
(so far as it is lawfully able) any Receiver and appoint any person instead of
any Receiver. If the Collateral Agent appoints more than one person as
Receiver, the Collateral Agent may give those persons power to act either
jointly or severally. Any Receiver referred to in this Clause 8 may enjoy the
benefit or enforce the terms of this Clause 8 in accordance with the provisions
of the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore.

 

8.2                               Scope
of appointment

 

Any Receiver
may be appointed Receiver of all of the Charged Assets or Receiver of a part of
the Charged Assets specified in the appointment. In the latter case, the rights
conferred on a Receiver as set out in Schedule 1 (Rights of
Receivers) shall have effect as though every reference in that
Schedule to any Charged Assets were a reference to the part of those assets so
specified or any part of those assets.

 

8.3                               Rights
of Receivers

 

Any Receiver
appointed pursuant to this Clause 8 shall have the rights, powers, privileges
and immunities conferred by the Acts (as varied and/or extended by this Deed)
on (a) mortgages, (b) mortgages in possession and (c) administrative
or other receivers duly appointed under the Acts, and shall also have the
rights set out in Schedule 1 (Rights of Receivers).
The Receiver shall in the exercise of the Receiver’s powers, authorities and
discretions conform to the discretions and regulations from time to time given
or made by the Collateral Agent. Any Receiver referred to in this Clause 8 may
enjoy the benefit or enforce the terms of this Clause 8 in accordance with the
provisions of the Contracts (Rights of Third Parties) Act, Chapter 53B of
Singapore.

 

8.4                               Agent
of Chargor

 

Any Receiver
shall be the agent of the Chargor for all purposes. The Chargor alone shall be
responsible for the Receiver’s contracts, engagements, acts, omissions,
defaults and losses and for liabilities incurred by the Receiver, provided that
the Chargor (and for the 

 

13

 

avoidance of
doubt, the Collateral Agent) shall not be liable for any sums arising from the
gross negligence or wilful misconduct of the Receiver.

 

8.5                               Remuneration

 

The Collateral
Agent may (acting reasonably) determine the remuneration of any Receiver
(without being limited to the maximum rate specified in Section 29(6) of
the Property Act) and direct payment of that remuneration out of moneys he
receives as Receiver. The Chargor alone shall be liable for the remuneration
and all other costs, losses, liabilities and expenses of the Receiver provided
that the Chargor (and for the avoidance of doubt, the Collateral Agent) shall
not be liable for any sums arising from the gross negligence or wilful
misconduct of the Receiver.

 

9.                                      Collateral Agent’s Rights

 

9.1                               Same rights as Receiver

 

Any rights
conferred by any Indenture Document upon a Receiver may be exercised by the
Collateral Agent after the Charges become enforceable (subject to the terms,
conditions and provisions of the Intercreditor Agreement), whether or not the
Collateral Agent shall have taken possession or appointed a Receiver of the
Charged Assets.

 

9.2                               Delegation

 

The Collateral
Agent may at any time and from time to time delegate by power of attorney or in
any other manner to any person or persons or fluctuating body of persons all or
any of the powers, authorities and discretions which are for the time being
exercisable by the Collateral Agent under this Deed in relation to the Charged
Assets and any such delegation may be made upon such terms and conditions
(including power to sub-delegate) and subject to such regulations as the
Collateral Agent may think fit and the Collateral Agent shall not be in any way
liable or responsible to the Chargor for any loss or damage arising from any
act, default, omission or misconduct on the part of any such delegate or
sub-delegate.  Any third party referred
to in this Clause 9.2 may enjoy the benefit or enforce the terms of this Clause
9.2 in accordance with the provisions of the Contracts (Rights of Third
Parties) Act, Chapter 53B of Singapore.

 

10.                               Order of Distributions

 

10.1                        Application of proceeds

 

Subject to the terms, conditions and provisions of the
Intercreditor Agreement, all moneys received or recovered by the Collateral
Agent or any Receiver or Delegate in exercise of their rights under this Deed
shall, subject to the rights of any creditors having priority, be applied in
the order provided in Clause 10.2 (Order of distributions).

 

10.2                        Order of distributions

 

The order referred to in Clause 10.1 (Application of proceeds) is:

 

10.2.1              first, to the payment of all costs and expenses incurred by the
Collateral Agent (in its capacity as such hereunder or under any other
Indenture Document) in 

 

14

 

connection
with such collection or sale or otherwise in connection with this Deed or any
of the Obligations, including all court costs and the reasonable fees and
expenses of its agents (including the Receiver and any Delegate) and legal
counsel, the repayment of all advances made by the Collateral Agent hereunder
or under any other Indenture Document on behalf of the Chargor and any other
costs or expenses incurred in connection with the exercise of any right or
remedy hereunder or under any other Indenture Document; and

 

10.2.2              second, in the order set forth in Section 6.10 of the
Indenture.

 

11.                               Liability of
Collateral Agent, Receivers and Delegates

 

11.1                        Possession

 

If the
Collateral Agent, any Receiver or any Delegate takes possession of the Charged
Assets, it may at any time relinquish possession. Without prejudice to Clause
11.2 (Collateral Agent’s liability), the
Collateral Agent shall not be liable as a mortgagee in possession by reason of
viewing or repairing any of the present or future assets of the Chargor, except
where such liability arises as a result of the Collateral Agent’s gross
negligence or wilful misconduct.

 

11.2                        Collateral
Agent’s liability

 

None of the
Collateral Agent, any Receiver or any Delegate shall (either by reason of
taking possession of the Charged Assets or for any other reason and whether as
mortgagee in possession or otherwise) be liable to the Chargor, any Secured
Party or any other person for any costs, losses, liabilities or expenses
relating to the realisation of any Charged Assets or from any act, default,
omission or misconduct of the Collateral Agent, any Receiver or any Delegate or
their respective officers, employees or agents in relation to the Charged
Assets or in connection with this Deed except to the extent caused by its own
gross negligence or wilful misconduct. Any third party referred to in this
Clause 11 may enjoy the benefit or enforce the terms of this Clause 11 in
accordance with the provisions of the Contracts (Rights of Third Parties) Act,
Chapter 53B of Singapore.

 

12.                               Power of
Attorney

 

12.1                        Appointment

 

The Chargor by
way of security irrevocably appoints the Collateral Agent, every Receiver and
every Delegate severally as its attorney (with full power of substitution), on
its behalf and in its name or otherwise, at such time and in such manner as the
attorney thinks fit:

 

12.1.1              to do anything which the Chargor is obliged to do (but has not done)
under any Indenture Document (including to execute charges over, transfers,
conveyances, assignments and assurances of, and other instruments, notices,
orders and directions relating to, the Charged Assets); and

 

12.1.2              at any time after the occurrence and during the continuance of an
Event of Default, to exercise any of the rights conferred on the Collateral
Agent, any 

 

15

 

Receiver
or any Delegate in relation to the Charged Assets or under this Deed, either of
the Acts or generally under Singapore law, subject to the terms, conditions and
provisions of the Intercreditor Agreement.

 

12.2                        Ratification

 

The Chargor
ratifies and confirms and agrees to ratify and confirm whatever any such
attorney shall do or purport to do in the exercise of the power of attorney
granted by it in Clause 12.1 (Appointment).
Any third party referred to in this Clause 12 may enjoy the benefit or enforce
the terms of this Clause 12 in accordance with the provisions of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

13.                               Protection of
Third Parties

 

13.1                        No duty to
enquire

 

No purchaser
or other person dealing with the Collateral Agent, any other Secured Party, any
Receiver or any Delegate shall be concerned to enquire:

 

13.1.1              whether the powers or rights conferred by or pursuant to any
Indenture Document are exercisable;

 

13.1.2              whether any consents, regulations, restrictions or directions
relating to such rights have been obtained or complied with;

 

13.1.3              otherwise as to the propriety or regularity of acts purporting or
intended to be in exercise of any such rights (including whether or not any
delegation shall have lapsed for any reason or has been revoked); or

 

13.1.4              as to the application of any money borrowed or raised.

 

13.2                        Protection to
purchasers

 

Upon any sale
or disposal of the Charged Assets or any part thereof in accordance with the
provisions of the Intercreditor Agreement, which the Collateral Agent, any
other Secured Party, any Receiver or any Delegate shall make under the
provisions of this Deed, a statement in writing from the Collateral Agent, any
Receiver or any Delegate that the Security created by this Deed has become
enforceable and that the power of sale has become exercisable shall be
conclusive evidence of the fact in favour of any purchaser or other person to
whom any of the Charged Assets may be transferred and such purchaser or other
person will take the same free of any rights of the Chargor. The Chargor
undertakes to indemnify the Collateral Agent, any Receiver or any Delegate against
any claim which may be made against the Collateral Agent, any Receiver or any
Delegate by such purchaser or any other person by reason of any defect in its
title to the Charged Assets, provided that such indemnity shall not be
available to the extent that such claim resulted from the gross negligence or
wilful misconduct of the Collateral Agent, any Receiver or any Delegate, as
applicable. Any third party referred to in this Clause 13 may enjoy the benefit
or enforce the terms of this Clause 13 in accordance with the provisions of the
Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore.

 

16

 

14.                               Saving
Provisions

 

14.1                        Continuing
Security

 

Subject to
Clause 15 (Discharge of Security), the Charges are
continuing Security and will extend to the ultimate balance of the Obligations,
regardless of any intermediate payment or discharge in whole or in part.

 

14.2                        Reinstatement

 

If any payment by the Chargor or any discharge given by a Secured Party
(whether in respect of the obligations of the Chargor, any person or any
Security for those obligations or otherwise) is avoided or reduced as a result
of insolvency or any similar event:

 

14.2.1              the liability of the
Chargor and the Charges shall continue as if the payment, discharge, avoidance
or reduction had not occurred; and

 

14.2.2              that Secured Party
shall be entitled to recover the value or amount of that security or payment
from the Chargor, as if the payment, discharge, avoidance or reduction had not
occurred.

 

14.3                        Waiver of
defences

 

Neither the
obligations of the Chargor under this Deed nor the Charges will be affected by
an act, omission, matter or thing which, but for this Clause 14, would reduce,
release or prejudice any of its obligations under this Deed or any of the
Charges (without limitation and whether or not known to it or any Secured
Party) including:

 

14.3.1              any time, waiver or consent granted to, or composition with, the
Chargor, any other Notes Party or any other person;

 

14.3.2              the release of the Chargor, any other Notes Party or any other
person under the terms of any composition or arrangement with any creditor of
the Chargor, any other Notes Party or any other person;

 

14.3.3              the taking, variation, compromise, exchange, renewal or release of,
or refusal or neglect to perfect, take up or enforce any rights against, or
security over assets of, the Chargor, any other Notes Party or any other person
or any non-presentation or non-observance of any formality or other requirement
in respect of any instrument or any failure to realise the full value of any
security;

 

14.3.4              any death, mental or other incapacity or lack of power, authority or
legal personality of or dissolution or change in the members or status or
constitution of the Chargor, any other Notes Party or any other person;

 

14.3.5              any amendment (however fundamental) or replacement of a Indenture
Document or any other document or security;

 

14.3.6              any unenforceability, illegality or invalidity of any obligation of
any person under any Indenture Document or any other document or security;

 

17

 

14.3.7              any insolvency, bankruptcy, liquidation, Winding-up or similar
proceedings;

 

14.3.8              this Deed or any Indenture Document not being executed by or binding
upon any person; or

 

14.3.9              any postponement, discharge, reduction, non-provability or other
similar circumstance affecting any obligation of any Notes Party or other
person under any Indenture Document resulting from any insolvency, liquidation
or dissolution proceedings or from any law, regulation or order.

 

14.4                        Immediate
recourse

 

The Chargor
waives any right it may have of first requiring any Secured Party (or any
trustee or agent on its behalf) to proceed against or enforce any other rights
or security or claim payment from any person before claiming from the Chargor
under this Deed. This waiver applies irrespective of any law to the contrary.

 

14.5                        Appropriations

 

Until all the
Obligations have been irrevocably paid in full, each Secured Party (or any
trustee or agent on its behalf) may:

 

14.5.1              refrain from applying or enforcing any other moneys, security or
rights held or received by that Secured Party (or any trustee or agent on its
behalf) in respect of those amounts, or apply and enforce the same in such
manner and order as it sees fit (whether against those amounts or otherwise)
and the Chargor shall not be entitled to the benefit of the same; and

 

14.5.2              hold in a suspense account any moneys received from the Chargor or
on account of the Chargor’s liability under this Deed.

 

14.6                        Deferral of
Chargor’s rights

 

14.6.1              Until all the Obligations have been irrevocably paid in full and
unless the Collateral Agent otherwise directs, the Chargor will not exercise
any rights which it may have by reason of performance by it of its obligations
under the Indenture Documents to take the benefit (in whole or in part and
whether by way of subrogation or otherwise) of any rights of the Secured
Parties under the Indenture Documents or of any guarantee or other security
taken pursuant to, or in connection with, the Indenture Documents by any
Secured Party.

 

14.6.2              The Chargor hereby
agrees that any claim of indemnification or contribution that the Chargor may
have with respect to a third party shall not decrease the Chargor’s obligations
to the Secured Parties.

 

14.7                        Additional
Security

 

The Charges
are in addition to and are not in any way prejudiced by any other guarantees or
security now or subsequently held by any Secured Party.

 

18

 

15.                               Discharge of
Security

 

15.1                        Final
redemption

 

Subject to Clause 15.2 (Retention of security),
when all the Obligations have been paid or discharged in full in cash, this
Deed and the Charges created hereby shall terminate. The Charges granted hereby
shall be automatically released as provided for, and only to the extent
required by, Section 11.04 (Release of liens)
of the Indenture. In connection with any such termination or release, the
Collateral Agent shall at the request and cost of the Chargor, execute and do
all such deeds, acts and things as may be necessary to release, reassign or
discharge (as appropriate) the Charged Assets from the Charges.

 

15.2                        Retention of
security

 

If the
Collateral Agent considers that any amount paid or credited to any Secured
Party under any Indenture Document is capable of being avoided or otherwise set
aside on the Winding-up of the Chargor or any other Notes Party, that amount
shall not be considered to have been paid for the purposes of determining
whether all the Obligations have been irrevocably paid.

 

16.                               Expenses, Stamp
Duty and Interest

 

16.1                        Transaction
expenses

 

The Chargor
shall within three Business Days of demand pay the Collateral Agent the amount
of all costs, losses, liabilities and expenses (including legal fees)
reasonably incurred by the Collateral Agent in connection with the negotiation,
preparation, printing and execution of this Deed and any other documents
referred to in this Deed.

 

16.2                        Amendment
costs

 

If the Chargor
requests an amendment, waiver or consent, the Chargor shall, within three
Business Days of demand, reimburse the Collateral Agent for the amount of all
costs, losses, liabilities and expenses (including legal fees) reasonably
incurred by the Collateral Agent in responding to, evaluating, negotiating or
complying with that request.

 

16.3                        Enforcement
costs

 

The Chargor
shall, within three Business Days of demand, pay to the Collateral Agent the
amount of all costs, losses, liabilities and expenses (including legal fees)
incurred by the Collateral Agent, any Receiver or any Delegate in relation to
this Deed (including the administration, protection, realisation, enforcement
or preservation of any rights under or in connection with this Deed, or any
consideration by the Collateral Agent as to whether to realise or enforce the
same, and/or any amendment, waiver, consent or release of this Deed and/or any other
document referred to in this Deed). Any third party referred to in this Clause
16 may enjoy the benefit or enforce the terms of this Clause 16 in accordance
with the provisions of the Contracts (Rights of Third Parties) Act, Chapter 53B
of Singapore.

 

19

 

16.4                        Stamp
taxes

 

The Chargor
shall pay and, within three Business Days of demand, indemnify the Collateral
Agent against any cost, loss or liability the Collateral Agent reasonably
incurs in relation to all stamp duty, registration and other similar Taxes
payable in respect of this Deed.

 

16.5                        Default
interest

 

16.5.1              If the Chargor fails
to pay any amount payable by it under this Deed on its due date, interest shall
accrue at the rate publicly
announced by the Collateral Agent as its prime rate in effect at its principal
office on the date of such demand. Any interest
accruing under this Clause 16.5 shall be immediately payable by the Chargor on
demand by the Collateral Agent.

 

16.5.2              Default interest (if
unpaid) arising on an overdue amount will be compounded with the overdue amount
at the end of each interest period applicable to that overdue amount but will
remain immediately due and payable.

 

16.6                        Goods
and Services Tax

 

The Chargor
shall pay to the Collateral Agent within three Business Days of demand, in
addition to any amount payable by the Chargor under this Deed, any goods and
services or other similar Tax in respect of that amount (and references in this
Deed to that amount shall be deemed to include any such Taxes payable in
addition to it).

 

17.                               Payments

 

17.1                        Demands

 

Any demand for
payment made by any Secured Party shall be effective as a demand for the
purposes of this Deed, from the date on which it is given.

 

17.2                        Payments

 

All payments
by the Chargor under this Deed (including damages for its breach) shall be made
in the Currency of Account and to such account, with such financial institution
and in such other manner as the Collateral Agent may direct.

 

17.3                        Continuation
of accounts

 

At any time
after:

 

17.3.1              the receipt by a
Secured Party of notice (either actual or otherwise) of any subsequent Security
affecting the Charged Assets of the Chargor; or

 

17.3.2              the presentation of
a petition or the passing of a resolution in relation to the Winding-up of the
Chargor,

 

any Secured
Party may open a new account in the name of the Chargor with that Secured Party
(whether or not it permits any existing account to continue). If that Secured
Party does not open such a new account, it shall nevertheless be treated as if
it had done so when the relevant event occurred. No moneys paid into any
account, whether new or 

 

20

 

continuing,
after that event shall discharge or reduce the amount recoverable pursuant to
any Indenture Document to which the Chargor is party.

 

18.                               Conduct of
business by the Secured Parties

 

No provision
of this Deed will:

 

18.1.1              interfere with the right of any Secured Party to arrange its affairs
(tax or otherwise) in whatever manner it thinks fit;

 

18.1.2              oblige any Secured Party to investigate or claim any credit, relief,
remission or repayment available to it or the extent, order and manner of any
claim; or

 

18.1.3              oblige any Secured Party to disclose any information relating to its
affairs (tax or otherwise) or any computations in respect of Tax.

 

19.                               Miscellaneous
Indemnities

 

19.1                        Currency
indemnity

 

19.1.1              The
Chargor’s obligations under the Indenture Documents to make payments in United
States Dollars (the “Obligation Currency”)
shall not be discharged or satisfied by any tender or recovery pursuant to any
judgment expressed in or converted into any currency other than the Obligation
Currency, except to the extent that such tender or recovery results in the
effective receipt by the Collateral Agent of the full amount of the Obligation
Currency expressed to be payable to the Collateral Agent under the Indenture
Documents. If, for the purpose of obtaining or enforcing judgment against the
Chargor in any court or in any jurisdiction, it becomes necessary to convert
into or from any currency other than the Obligation Currency (such other
currency being hereinafter referred to as the “Judgment
Currency”) an amount due in the Obligation Currency, the conversion
shall be made, at the rate of exchange (as quoted by the Collateral Agent or,
if the Collateral Agent does not quote a rate of exchange on such currency, by
a known dealer in such currency designated by the Collateral Agent) determined,
in each case, as of the date immediately preceding the day on which the
judgment is given (such Business Day being hereinafter referred to as the “Judgment Currency Conversion Date”).

 

19.1.2              If
there is a change in the rate of exchange prevailing between the Judgment
Currency Conversion Date and the date of actual payment of the amount due, the Chargor
covenants and agrees to pay, or cause to be paid, such additional amounts, if
any (but in any event not a lesser amount), as may be necessary to ensure that
the amount paid in the Judgment Currency, when converted at the rate of
exchange prevailing on the date of payment, will produce the amount of the
Obligation Currency that could have been purchased with the amount of Judgment
Currency stipulated in the judgment or judicial award at the rate of exchange
prevailing on the Judgment Currency Conversion Date.

 

21

 

19.1.3              For
purposes of determining the rate of exchange for this Clause 19.1, such amounts
shall include any premium and costs payable in connection with the purchase
of the Obligation Currency.

 

19.2                        Indemnities
separate

 

The indemnity
in this Deed shall:

 

19.2.1              not limit any indemnification provision in any other Indenture
Document;

 

19.2.2              apply irrespective of any indulgence granted by any Secured Party;

 

19.2.3              continue in full force and effect despite any judgment, order, claim
or proof for a liquidated amount in respect of any Obligation or any other
judgment or order; and

 

19.2.4              apply whether or not any claim under it relates to any matter disclosed
by the Chargor or otherwise known to any Secured Party.

 

19.3                        Other
Indemnities and protections

 

Except
in the case of gross negligence or wilful misconduct on the part of the
Collateral Agent, any Receiver or any Delegate, the Collateral Agent shall be
indemnified by the Chargor from and against all actions, losses, claims,
proceedings, costs, demands and liabilities which may be suffered by the
Collateral Agent by reason of any failure of the Chargor to perform any of its
obligations under this Deed or in the execution of any of the rights, powers,
remedies, authorities or discretions vested in the Collateral Agent, any
Receiver or any Delegate, under or pursuant to this Deed.

 

20.                               Rights,
Amendments, Waivers and Determinations

 

20.1                        Ambiguity

 

The powers and
protections conferred by this Deed in relation to the Charged Assets or any
part thereof on the Collateral Agent shall be in addition to and not in
substitution for the powers and protections conferred on mortgagees or chargees
under the Acts, which shall apply to the Charges except insofar as they are
expressly or impliedly excluded. Where there is any ambiguity or conflict
between the rights or powers conferred by law or contained in either of the
Acts and those conferred by or pursuant to this Deed or where the powers or
protections in this Deed are more extensive or less restrictive than those
provided by either of the Acts, the terms of this Deed shall prevail.

 

20.2                        Exercise
of rights

 

No failure to
exercise, nor any delay in exercising, on the part of any Secured Party, any
Receiver or Delegate, any right or remedy under this Deed shall operate as a
waiver, nor shall any single or partial exercise of any right or remedy prevent
any further or other exercise or the exercise of any other right or remedy. The
rights and remedies provided in this Deed are cumulative and not exclusive of
any rights or remedies provided by law.

 

22

 

20.3                        Amendments
and waivers

 

Any term of
this Deed may be amended or waived only with the consent of the Collateral
Agent and the Chargor, subject to any consent required by Article 9 of the
Indenture.

 

20.4                        Determinations

 

Any
determination by or certification of the Collateral Agent or any Receiver or
Delegate of a rate or amount under this Deed is, in the absence of manifest
error, conclusive evidence of the matters to which it relates.

 

21.                               Separate and
independent obligations

 

The Security
created by the Chargor by or in connection with any Indenture Document is separate
from and independent of any other Security created or intended to be created by
any other provider of Security by or in connection with any Indenture Document.

 

22.                               Benefit of
Security

 

22.1                        Benefit
and Burden

 

This Deed
shall be binding upon and enure to the benefit of each Party and its successors
and assigns.

 

22.2                        The
Chargor

 

The Chargor
may not assign or transfer all or any of its rights, benefits and obligations
under this Deed except as permitted by this Deed or the other Indenture
Documents.

 

22.3                        The
Collateral Agent

 

The Collateral
Agent may assign all or part of its rights under this Deed or transfer all or
part of its obligations under this Deed in accordance with the terms of the
Indenture without the consent of the Chargor. Any such assignee or transferee
shall be and be treated as a party for all purposes of this Deed and shall be
entitled to the full benefit of this Deed to the same extent as if it were an
original party in respect of the rights or obligations assigned or transferred
to it.

 

23.                               Partial
Invalidity

 

If, at any
time, any provision of this Deed is or becomes illegal, invalid or
unenforceable in any respect under any law of any jurisdiction, neither the
legality, validity or enforceability of the remaining provisions nor the legality,
validity or enforceability of such provision under the law of any other
jurisdiction will in any way be affected or impaired.

 

24.                               Notices

 

24.1                        Communications

 

Any communication to be
made under or in connection with this Deed may be made by fax or letter or,
subject to Clause 24.3 (Delivery), be
delivered or furnished by 

 

23

 

electronic communication
(including e-mail and Internet or intranet websites) pursuant to procedures
approved by the Collateral Agent.

 

24.2                        Addresses

 

The address and fax
number (and the department or officer, if any, for whose attention the
communication is to be made) of each Party for any communication or document to
be made or delivered under or in connection with this Deed is that identified
with its name below, or any substitute address, fax number or department or
officer as the Party may notify to the other Party.

 

24.3                        Delivery

 

Either Party may change its address or fax
number for notices and other communications hereunder by notice to the other
Party. The Collateral Agent or the Chargor may, in its discretion, agree to
accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of
such procedures may be limited to particular notices or communications. All
notices and other communications given to any party hereto in accordance with
the provisions of this Deed shall be deemed to have been given on the date of
receipt.

 

25.                               Counterparts

 

This Deed may
be executed in any number of counterparts, and this has the same effect as if
the signatures on the counterparts were on a single copy of this Deed. Delivery
of an executed counterpart of a signature page of this Deed by telecopy or
Adobe pdf transmission shall be effective as delivery of a manually executed
counterpart of this Deed.

 

26.                               Governing Law

 

This Deed
shall be governed by, and construed in accordance with the laws of Singapore.

 

27.                               Jurisdiction

 

27.1                        Jurisdiction of
Singapore courts

 

27.1.1              The courts of Singapore have exclusive jurisdiction to settle any
dispute arising out of or in connection with this Deed (including a dispute
regarding the existence, validity or termination of this Deed) (a “Dispute”).

 

27.1.2              The Parties agree that the courts of Singapore are the most
appropriate and convenient courts to settle Disputes and accordingly no Party
will argue to the contrary.

 

24

 

27.2                        Service of
process

 

Without
prejudice to any other mode of service allowed under any relevant law, the
Chargor:

 

27.2.1              irrevocably appoints Seagate Singapore International Headquarters
Pte. Ltd. as its agent for service of process in relation to any proceedings
before the Singapore courts in connection with this Deed; and

 

27.2.2              agrees that failure by a process agent to notify the Chargor of the
process will not invalidate the proceedings concerned.

 

28.                               The Collateral Agent; Limitation
on Duty of Collateral Agent in Respect of Charged Assets.

 

28.1                        It is expressly
understood and agreed that the obligations of the Collateral Agent as holder of
the Charged Assets and interests therein and with respect to the disposition
thereof, and otherwise under this Deed, are only those expressly set forth in
this Deed and in the Indenture.  The
Collateral Agent shall act hereunder on the terms and conditions set forth
herein and in Articles 7 and 11 of the Indenture.  The Collateral Agent will be subject to such
directions as may be given to it by the Noteholders or the Trustee from time to
time (as required or permitted by the Indenture).  Except as directed by the Noteholders or the
Trustee as required or permitted by the Indenture or as required or permitted
by the Security Documents, the Collateral Agent will not be obligated (i) to
act upon directions purported to be delivered to it by any other person, (ii) to
foreclose upon or otherwise enforce any Charge, or (iii) to give any
consents, make any determination, exercise its discretion or take any other
action whatsoever with regard to any or all of the Charges, the Security
Documents, or the Charged Assets.  No
provision of this Deed will require the Collateral Agent to expend or risk its
own funds or otherwise incur any financial liability in the performance of its
duties hereunder, or in the exercise of its rights or powers, unless it
receives from the Noteholders indemnity satisfactory to it against any loss,
liability or expense.

 

28.2                        In acting as
Collateral Agent, the Collateral Agent may rely upon and enforce for its own
benefit each and all of the rights, powers, immunities, indemnities and
benefits of the Trustee under Articles 7 and 11 of the Indenture, each of which
shall also be deemed to be for the benefit of the Collateral Agent.

 

29.                               Intercreditor Agreement

 

The security interests created by this Deed on the
Charged Assets are junior and subordinate to the security interests on such
Charged Assets created by any similar instrument now or hereafter granted to
any First Priority Representative, in such property, in accordance with the
provisions of the Intercreditor Agreement. Notwithstanding anything to the
contrary, the exercise of any right or remedy by the Collateral Agent hereunder
is subject to the provisions of the Intercreditor Agreement. In the event of
any conflict between the terms of the Intercreditor Agreement and this Deed,
the terms of the Intercreditor Agreement shall govern.

 

25

 

This Deed has been entered into on the date stated at the beginning of
this Deed.

 

26

 

Schedule
1

 

Rights
of Receivers

 

Subject
to the terms, conditions and provisions of the Intercreditor Agreement, any Receiver
appointed pursuant to Clause 8 (Appointment
and Rights of Receivers) shall have the right, either in its own
name or in the name of the Chargor or otherwise and in such manner and upon
such terms and conditions as the Receiver thinks fit, and either alone or
jointly with any other person:

 

(a)                                  Take
possession

 

to take
possession of the Charged Assets, and to require payment to it of all
Dividends;

 

(b)                                 Deal
with Charged Assets

 

to sell,
transfer, assign, exchange or otherwise dispose of or realise the Charged
Assets to any person either by public offer or auction, tender or private
contract and for a consideration of any kind (which may be payable or delivered
in one amount or by instalments spread over a period or deferred);

 

(c)                                  Borrow
money

 

to borrow or
raise money either unsecured or on the security of the Charged Assets (either
in priority to the Charges or otherwise);

 

(d)                                 Rights
of ownership

 

to exercise
and do (or permit the Chargor or any nominee of it to exercise and do) all such
rights and things as the Receiver would be capable of exercising or doing if it
were the absolute beneficial owner of the Charged Assets;

 

(e)                                  Claims

 

to settle,
adjust, refer to arbitration, compromise and arrange any claims, accounts,
disputes, questions and demands with or by any person relating to the Charged
Assets;

 

(f)                                    Legal actions

 

to bring,
prosecute, enforce, defend and abandon actions, suits and proceedings in
relation to the Charged Assets;

 

(g)                                 Redemption
of Security

 

to redeem any
Security (whether or not having priority to the Charges) over the Charged
Assets and to settle the accounts of any person with an interest in the Charged
Assets; and

 

27

 

(h)                                 Other powers

 

to do anything
else it may think fit for the realisation of the Charged Assets or incidental
to the exercise of any of the rights conferred on the Receiver under or by
virtue of any Indenture Document to which the Chargor is party, the Property
Act or any laws or regulations.

 

28

 

Schedule
2

 

Shares

 

500,001 issued
and fully paid up ordinary shares in the capital of the Charged Company.

 

29

 

In witness whereof this Deed has been executed by the parties hereto on the date stated
at the beginning.

 

 

	
  EXECUTED
  AS A DEED by SEAGATE

  	
  )

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  TECHNOLOGY
  INTERNATIONAL

  	
  )

  	
   

  	
   

  
	
  in the
  presence of

  	
   

  	
  )

  	
  /s/ Patrick
  J. O’Malley

  
	
   

  	
   

  	
  )

  	
  Signature

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  )

  	
  Name:
  Patrick J. O’Malley

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Saralyn
  Brown

  	
   

  	
  )

  	
  Title:  EVP &
  Chief Financial Officer

  
	
  Signature of
  witness

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:
  Saralyn Brown

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address: 920
  Disc Drive

  	
   

  	
   

  	
   

  	
   

  
	
  Scotts Valley, CA 95066

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Occupation:
  Executive Assistant

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
  Seagate
  Technology

  	
   

  	
   

  	
   

  
	
   

  	
  920 Disc
  Drive

  	
   

  	
   

  	
   

  
	
   

  	
  Scotts
  Valley, CA 95066

  	
   

  	
   

  	
   

  
	
   

  	
  United
  States of America

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fax
  No.:

  	
  +1
  (831) 438-6675

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:

  	
  General
  Counsel

  	
   

  	
   

  	
   

  
							

 

 

	
  The
  Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SIGNED,
  SEALED AND DELIVERED

  	
  

  	
   

  	
   

  
	
  by Maddy
  Hall

  	
   

  	
   

  
	
  for and on
  behalf of

  	
   

  	
   

  
	
  Wells
  Fargo Bank, National Association

  	
  /s/ Maddy Hall

  
	
  in the
  presence of:

  	
  Signature

  
	
   

  	
   

  
	
   

  	
  Name: Maddy
  Hall

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Kheang
  Tan

  	
   

  	
   

  	
   

  
	
  Witness’s
  signature

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name of
  Witness: Kheang Tan

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:
  Assistant Vice President

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
  Wells Fargo
  Bank, National Association

  	
   

  	
   

  	
   

  
	
   

  	
  707 Wilshire
  Boulevard, 17th Floor

  	
   

  	
   

  	
   

  
	
   

  	
  Los Angeles,
  CA 90017

  	
   

  	
   

  	
   

  
	
   

  	
  United
  States of America

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fax No:

  	
  +1 (213)
  614-3355

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:

  	
  Corporate
  Trust Services

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  With a copy
  to:

  	
  Thompson
  Hine LLP

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
  335 Madison
  Avenue, 12th Floor,

  	
   

  	
   

  	
   

  
	
   

  	
  New York, NY
  10017

  	
   

  	
   

  	
   

  
	
   

  	
  United
  States of America

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fax No:

  	
  +1 (212)
  344-6101

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:

  	
  Irving C.
  Apar, Esq.

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