Document:

Exhibit 10.1

 

AMENDMENT AND RESTATEMENT AGREEMENT

 

dated 11 July 2005

 

VIA NET.WORKS, INC.

 

and

 

VIA.NETWORKS HOLDCO, INC.

 

and

 

VIA.NETWORKS NY CORP, INC.

 

and

 

CLARANET GROUP LIMITED

 

and

 

CLARA.NET HOLDINGS LIMITED

 

RELATING TO A SALE AND PURCHASE AGREEMENT DATED

 

30 April 2005

 

Linklaters

 

Ref: JAGI

 

 

CONTENTS

 

	
  CLAUSE

  	
   

  
	
  1.

  	
  Definitions and interpretation

  	
   

  
	
  2.

  	
  Representations

  	
   

  
	
  3.

  	
  Amendment

  	
   

  
	
  4.

  	
  Transaction expenses

  	
   

  
	
  5.

  	
  Miscellaneous

  	
   

  
	
  6.

  	
  Governing law

  	
   

  

 

THE SCHEDULES

 

	
  SCHEDULE

  	
   

  
	
  SCHEDULE 1 Form of Amended Agreement

  	
   

  

 

 

i

 

THIS AGREEMENT is dated
11 July 2005 and made between:

 

(1)                                              VIA NET.WORKS, Inc., a company incorporated in Delaware, the
United States whose registered office is at 1013 Centre Road, Wilmington,
Delaware 19805, United States (“VIA Inc” or
the “Seller”);

 

(2)                                              VIA NET.WORKS Holdco, Inc., a company
incorporated in Delaware, the United States whose registered office is at 1013
Centre Road, Wilmington, Delaware 19805, United States (“Holdco”);

 

(3)                                              VIA NET.WORKS NY Corp, Inc., a company
incorporated in New York, the United States, whose registered office is at 80
State Street, Albany NY1227-2543 (together with VIA Inc and Holdco, the “Sellers” or the “Relevant Sellers”);

 

(4)                                              Claranet Group Limited, a company incorporated in England and
Wales whose registered office is at 21 Southampton Row, London WC1B 5HA (the “Purchaser”); and

 

(5)                                              Clara.net Holdings Limited, a company incorporated in Jersey whose
registered office is at c/o Professional Trust Company Limited, PO Box 274, 36
Hilgrove Street, St Helier, Jersey JE4 8TR (“Clara.net Holdings” and, together with the Purchaser, the “Purchasers” or the “Relevant Purchasers”).

 

IT IS AGREED as follows:

 

1.                                                  DEFINITIONS AND INTERPRETATION

 

1.1                                           Definitions

 

In this Agreement:

 

“Amended
SPA” means the Original SPA, as amended and restated in the form
set out in Schedule 1 (Form of SPA).

 

“Original
SPA” means the Sale and Purchase Agreement dated 30
April 2005 between the Sellers and the Purchasers.

 

1.2                                           Incorporation of defined terms

 

(a)                                              Unless a
contrary indication appears, a term defined in the Original SPA has the same
meaning in this Agreement.

 

(b)                                             The
principles of construction set out in the Original SPA shall have effect as if
set out in this Agreement.

 

1.3                                           Clauses

 

In this Agreement any
reference to a “Clause” or a “Schedule” is, unless the context otherwise
requires, a reference to a Clause of or a Schedule to this Agreement.

 

1.4                                           Third Party Rights

 

A person who is not a
party to this Agreement has no right under the Contracts (Rights of Third
Parties) Act 1999 to enforce or to enjoy the benefit of any term of this
Agreement.

 

2.                                                  REPRESENTATIONS

 

The Sellers make the
warranty set out in paragraph 14 of Schedule 7 to the Original SPA, by
reference to the facts and circumstances existing on the date of this
Agreement, but as if

 

1

 

references in that
paragraph 14 of Schedule 7 to the Original SPA were instead to this Agreement
and the Amended SPA and as if the reference to sub-paragraph 16.1.2 were to sub-paragraph
14.1.2.

 

3.                                                  AMENDMENT

 

3.1                                           Amendment

 

With effect from the
date of this Agreement, the Original SPA shall be amended and restated in the
form set out in Schedule 1 (Form of Amended SPA).

 

3.2                                           Continuing obligations

 

The provisions of the
Original SPA and the other documents entered into pursuant to that Agreement
shall, save as amended by this Agreement, continue in full force and effect.

 

4.                                                  TRANSACTION EXPENSES

 

Each Party shall pay its
own costs incurred in connection with the negotiation, preparation, printing
and execution of this Agreement and any other documents referred to in this
Agreement.

 

5.                                                  MISCELLANEOUS

 

5.1                                           Incorporation of terms

 

The provisions of Clause
12.11 to 12.15 (Notices) of the Original SPA shall be incorporated into this Agreement
as if set out in full in this Agreement and as if references in those clauses
to “this Agreement” are references to this Agreement.

 

5.2                                           Counterparts

 

This Agreement 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 Agreement.

 

6.                                                  GOVERNING LAW

 

This Agreement is
governed by English law.

 

2

 

In witness whereof this Agreement has been duly
executed as a Deed.

 

	
  SIGNED as a Deed by

  and on behalf of

  VIA NET.WORKS, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED
  as a Deed by

  and on behalf of

  VIA NET.WORKS Holdco, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED
  as a Deed by

  and on behalf of

  VIA NET.WORKS NY Corp, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED
  as a DEED by

  and on behalf of

  Claranet Group Limited:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED
  as a DEED by

  and on behalf of

  Clara.net Holdings
  Limited:

  	
  }

  	
  

  

 

3

 

SCHEDULE 1

 

FORM OF AMENDED AGREEMENT

 

4

 

Dated 30 April 2005

(as amended by an amendment and restatement agreement dated 12 July 2005)

 

VIA NET.WORKS, INC.

 

and

 

VIA NET.WORKS HOLDCO, INC.

 

and

 

VIA NET.WORKS NY CORP, INC.

 

and

 

CLARANET GROUP LIMITED

 

and

 

CLARA.NET HOLDINGS LIMITED

 

SALE
AND PURCHASE AGREEMENT

 

relating to the operating subsidiaries and certain
assets and liabilities of VIA NET.WORKS, Inc. and

VIA NET.WORKS Holdco, Inc.

 

	
  Linklaters

  
	
   

  
	
  One
  Silk Street 

  
	
  London
  EC2Y 8HQ

  
	
   

  
	
  Telephone
  +44 (20) 7456 2000 

  
	
  Facsimile
  +44 (20) 7456 2222

  
	
   

  
	
  Ref
  JAGI

  

 

 

Table
of Contents

 

	
  Contents

  	
   

  
	
  1

  	
  Interpretation

  	
   

  
	
  2

  	
  Agreement to Sell the Group

  	
   

  
	
  3

  	
  Consideration

  	
   

  
	
  4

  	
  Conditions

  	
   

  
	
  5

  	
  Pre-Closing

  	
   

  
	
  6

  	
  Closing

  	
   

  
	
  7

  	
  Post-Closing
  Obligations

  	
   

  
	
  8

  	
  Warranties

  	
   

  
	
  9

  	
  Limitation of
  Seller’s Liability

  	
   

  
	
  10

  	
  Intellectual Property

  	
   

  
	
  11

  	
  Confidentiality

  	
   

  
	
  12

  	
  Other Provisions

  	
   

  
	
  Schedule 1 Part 1 Details of the
  Shares etc. (Clause 1.1)

  	
   

  
	
  Schedule 2 Companies and
  Subsidiaries

  	
   

  
	
  Schedule 3 Contracts (Clause
  2.3.1(iv))

  	
   

  
	
  Schedule 4 Employees (Clause 2.4)

  	
   

  
	
  Schedule 5 VAT

  	
   

  
	
  Schedule 6 Closing Obligations

  	
   

  
	
  Schedule 7 Warranties given under
  Clause 8.1

  	
   

  
	
  Schedule 8 Working Capital
  Projections

  	
   

  
	
  Schedule 9 Guarantees

  	
   

  

 

i

 

Sale
and Purchase Agreement

 

This
Agreement is made on 30 April 2005

 

between:

 

(1)                                              VIA NET.WORKS, Inc., a company incorporated in Delaware, the
United States whose registered office is at 1013 Centre Road, Wilmington,
Delaware 19805, United States (“VIA Inc” or
the “Seller”);

 

(2)                                              VIA NET.WORKS Holdco, Inc., a company
incorporated in Delaware, the United States whose registered office is at 1013
Centre Road, Wilmington, Delaware 19805, United States (“Holdco”);

 

(3)                                              VIA NET.WORKS NY Corp, Inc., a company
incorporated in New York, the United States, whose registered office is at 80
State Street, Albany NY1227-2543 (together with VIA Inc and Holdco, the “Sellers” or the “Relevant Sellers”);

 

(4)                                              Claranet Group Limited, a company incorporated in England and Wales
whose registered office is at 21 Southampton Row, London WC1B 5HA (the “Purchaser”); and

 

(5)                                              Clara.net Holdings Limited, a company incorporated in Jersey whose
registered office is at c/o Professional Trust Company Limited, PO Box
274, 36 Hilgrove Street, St Helier, Jersey JE4 8TR (“Clara.net Holdings” and, together with
the Purchaser, the “Purchasers” or
the “Relevant Purchasers”).

 

Whereas:

 

(A)                                          The Relevant
Sellers have agreed to sell the Group (as defined below) and to assume the
obligations imposed on the Relevant Sellers under this Agreement.

 

(B)                                            The Relevant
Purchasers have agreed to purchase the Group and to assume the obligations
imposed on the Relevant Purchasers under this Agreement.

 

It is agreed as follows:

 

1                                                     Interpretation

 

In this Agreement,
unless the context expressly otherwise requires, the provisions in this
Clause 1 apply:

 

1.1                                           Definitions

 

“A
Group Companies” means the Group Companies set forth in
Part A of Schedule 2;

 

“Accounts
Date” means 31 December 2004;

 

“Agreed
Cashflow” means the sum of the amount of Cashflow
expressly provided for in the Working Capital Projections, being EUR 1,894,000
if the Pre-CIosing Cut-Off Date is 31 July 2005 and EUR 2,474,000 if the
Pre-Closing Cut-Off Date is 31 August 2005 in each case minus the Net
Repayable Intra-Group Balance Amount;

 

“Agreed
Terms” means, in relation to a document, such document in the terms
agreed between VIA Inc and the Purchaser and signed for identification by the
Sellers’ Lawyers and the Purchasers’ Lawyers with such alterations as may be
agreed in writing between VIA Inc and the Purchaser from time to time;

 

“Amendment
Date” means the date on which the SPA Amendment and Restatement
Agreement was executed;

 

1

 

“Assignment
Agreement” means the assignment agreement in the
Agreed Terms to be entered into on or prior to First Closing; among VIA Inc,
Holdco and a wholly-owned subdiary of VIA Inc incorporated under the laws
of Jersey for the purpose;

 

“Assumed
Liabilities” means the liabilities of the Relevant
Sellers (other than the Excluded Liabilities) to be assumed by the Relevant
Purchasers under or pursuant to Clause 2.3.2 and “Assumed Liability” means any one of them;

 

“B
Group Companies” means the Group Companies set forth in
Part B of Schedule 2;

 

“Back
Stop Date” means 9 September 2005;

 

“Benchmark
Date” means the date of this Agreement;

 

“Blocked
Account” means the blocked account at ING Bank N.V. in the name of
VIA NET.WORKS Nederland B.V. currently in credit to the amount of
€283,716;

 

“Blocked
Amount” means the amount in Euro standing to credit in the Blocked
Account, converted to U.S. dollars at the Euro/U.S. dollar exchange rate on the
First Closing Date as quoted by the Financial Times, London edition or, if no
such rate is quoted on that date, on the preceding date on which such rates are
quoted;

 

“Business
Assets” means all the property, rights and assets (including the
Sellers’ Computer Systems) agreed to be sold under Clause 2.3.1 of this
Agreement or any relevant Local Transfer Document;

 

“Business
Day” means a day which is not a Saturday, a Sunday or a public
holiday in London or Amsterdam;

 

“Business
Intellectual Property” means all rights and interests of the
Sellers in Intellectual Property which, at or immediately before Closing, is
used or capable of use in the business of the Group, including the Registered
Intellectual Property details of which are set out in the document entitled “Business
Intellectual Property” contained in the Data Room;

 

“Cashflow”
means
the sum of any of the following to the extent they occur between the Benchmark
Date and the close of business on the Second Closing Date (inclusive):

 

(i)                the
aggregate amount of any dividend, or distribution declared, paid or made by a
Group Company other than to another Group Company (expressed as a negative
number); and

 

(ii)               the
aggregate amount of any redemption or purchase of shares or return of capital
by a Group Company other than to another Group Company (expressed as a negative
number); and

 

(iii)              the
aggregate amount of any cash payments made to (or the fair market value of
assets transferred to or liabilities assumed, indemnified or incurred for the
benefit of) any member of the VIA Group (including, without limitation,
management fees and any payment of interest) by any Group Company (expressed as
a negative number); and

 

(iv)              the
aggregate amount of any cash payments made to (or the fair market value of
assets transferred to or liabilities assumed, indemnified or incurred for the
benefit of) any Group Company (including, without limitation, management fees
and any payment of interest) by any member of the VIA Group (expressed as a
positive number); and

 

2

 

(v)                                             any payment
or incurrence by a Group Company of any third party costs and expenses in
connection with the proposed sale of the Companies to the extent that the same
have not been refunded to the relevant Group Company by the Sellers or their
agents prior to Closing (expressed as a negative number); and

 

(vi)                                          any payment
or incurrence by a Group Company of any material third party costs and expenses
that should properly have been for the account of the VIA Group in connection
with any litigation or potential litigation to the extent that the same have
not been refunded to the relevant Group Company by the Sellers or their agents
prior to Closing (expressed as a negative number); and

 

(vii)                                       any
indemnity or other contingent liability or obligation granted or assumed, other
than pursuant to this Agreement, by a Group Company in connection with the
proposed sale of the Companies (expressed as a negative number)

 

and for the purposes of
this definition in respect of any period up to and including the First Closing
Date “Group Company” shall mean the A Group Companies and the B Group
Companies, and in respect of any period between the First Closing Date and to
and including the Second Closing Date shall mean the B Group Companies;

 

“Cashflow
Adjustment Amount” means the amount of Agreed Cashflow minus
the amount of Identified Cashflow provided that if the amount of Identified
Cashflow is greater than the amount of Agreed Cashflow then the Cashflow
Adjustment Amount shall be deemed to be zero;

 

“Charged
Asset” means any asset subject to an Encumbrance created pursuant
to a Security Document;

 

“Claims”
means
all rights and claims of the Sellers arising at any time whether before or
after the relevant Closing primarily in relation to any of the Business Assets
or any Assumed Liability (but excluding any rights or claims under insurance
policies) and “Claim” means any
one of them;

 

“Closing”
means
First Closing or Second Closing as the context may require;

 

“Closing
Date” means, in respect of a Closing, the date on which such Closing
takes place pursuant to Clause 6;

 

“Companies”
means
the companies, details of which are set out in paragraph 1 of Part A and
paragraph 1 of Part B of Schedule 2 and “Company”
means any one of them;

 

“Competing
Proposals” means a proposal made by a Third Party to
either of the Sellers pursuant to which such Third Party will acquire equity or
any material assets, or provide debt or equity funding to, either of the
Sellers or any Group Company. For the avoidance of doubt, “Competing Proposal”
shall not include the (i) disposal of any assets of either of the Sellers
or any Group Company to the extent that such disposal is proposed by or
otherwise agreed to in writing by Purchaser, pursuant to a Restructuring Action
or otherwise, or (ii) the issuance of any equity shares representing less
than 25 per cent of the entire issued equity share capital of VIA Inc;

 

“Computer
Systems” means all computer systems, communications systems, hardware
and software used by a Group Company and/or either of the Sellers, as appropriate;

 

“Confidentiality
Agreement” means the confidentiality agreement dated
31 January 2005 between VIA Inc and Clara.net Limited pursuant to which
VIA Inc made available to the Purchasers certain confidential information
relating to the Group;

 

3

 

“Consolidated
Accounts” means the consolidated audited accounts
of the VIA Group and the Group Companies taken as a whole, each comprising a
balance sheet and a profit and loss account for the twelve month period ended
on the Accounts Date;

 

“Contracts”
means
the Licence Agreements and all contracts, undertakings, arrangements and
agreements listed in Schedule 3 and contained in the Data Room under “Contracts”
in the folder entitled “VIA Inc”, and “Contract”
means any of them;

 

“Customer
Premises Equipment” means equipment required by a customer
for the provision of services to that customer and which is not located at the
premises of a Group Company;

 

“Data
Room” means the data room containing documents and information
relating to the Group made available by the Sellers at the website communicated
by the Sellers to the Purchasers on a CD ROM, the contents of which are listed
in Appendix B to the Disclosure Letter;

 

“Deferred Amount” means
$928,306;

 

“Deposit”
means
the amount of $3,000,000 paid to VIA Inc by the Purchaser pursuant to paragraph
4 of the Letter of Intent;

 

“Disclosure
Letter” means the letter
dated on the same date as this Agreement from the Sellers to the Purchasers, as
supplemented on the First Closing Date and updated on Second Closing,
disclosing:

 

(i)                                                 information
constituting exceptions to the Warranties; and

 

(ii)                                              details of
other matters referred to in this Agreement;

 

“Employee”
means
all employees of the Group Companies and all Relevant Employees who are or will
be employed by a Group Company immediately prior to the relevant Closing Date
(other than any specifically excluded by agreement with the Purchaser);

 

“Encumbrance”
means
any claim, charge, mortgage, lien, option, equity, power of sale,
hypothecation, usufruct, retention of title, right of pre-emption, right of
first refusal or other third party rights or security interest of any kind or
an agreement, arrangement or obligation to create any of the foregoing;

 

“Excluded
Liabilities” means the liabilities referred to in
Clause 2.3.3;

 

“Facility
Agreement” means the agreement in the Agreed Terms
to be entered into on the date hereof, as amended on 12 July 2005,
pursuant to which Clara.net Holdings will provide VIA Inc with a working capital
facility;

 

“Finance
Documents” has the meaning given to it in the
Facility Agreement;

 

“Financial
indebtedness” means any indebtedness for or in respect
of:

 

(a)                                              moneys
borrowed;

 

(b)                                             any amount
raised by acceptance under any acceptance credit facility;

 

(c)                                              any amount
raised pursuant to any note purchase facility or the issue of bonds, notes,
debentures, loan stock or any similar instrument;

 

(d)                                             the amount
of any liability in respect of any lease or hire purchase contract which would,
in accordance with the relevant accounting standard in the jurisdiction of the
relevant Group Company, be treated as a finance or capital lease;

 

4

 

(e)                                              receivables
sold or discounted (other than any receivables to the extent they are sold on a
non-recourse basis);

 

(f)                                                any amount
raised under any other transaction (including any forward sale or purchase
agreement) having the commercial effect of a borrowing;

 

(g)                                             any
derivative transaction entered into in connection with protection against or
benefit from fluctuation in any rate or price (and, when calculating the value
of any derivative transaction, only the marked to market value shall be taken
into account);

 

(h)                                             shares which
are expressed to be redeemable;

 

(i)                                                 any counter-indemnity
obligation in respect of a guarantee, indemnity, bond, standby or documentary
letter of credit or any other instrument issued by a bank or financial
institution; and

 

(j)                                                 the amount
of any liability in respect of any guarantee or indemnity for any of the items
referred to in paragraphs (a) to (i) above.

 

“Finance
Leasing Arrangement” means any arrangement or transaction
pursuant to which a Group Company:

 

(a)                                              sells,
transfers or otherwise disposes of any of its assets on terms whereby they are
or may be leased to or re-acquired by that or any other Group Company;

 

(b)                                             sells,
transfers or otherwise disposes of any of its receivables on recourse terms;

 

(c)                                              agrees that
money or the benefit of a bank or other account may be applied, set-off or made
subject to a combination of accounts, save in the ordinary course of its
banking arrangements for the purpose of netting debit and credit balances; or

 

(d)                                             enters into
any other preferential arrangement having a similar effect,

 

in circumstances where
the arrangement or transaction is entered into primarily as a method of raising
Financial Indebtedness or of financing the acquisition of an asset;

 

“First
Closing” means the completion of the sale of those parts of the Group
sold pursuant to Clauses 6.1.1, 6.2 and 6.3.1 of this Agreement;

 

“First
Closing Date” means close of business on the date on
which First Closing takes place;

 

“First
Closing Purchase Price” has the meaning given in Clause 3.1.1;

 

“Goodwill”
means
the goodwill of the Sellers in relation to the business of the Group as at the
relevant Closing;

 

“Group”
means
the Group Companies and the VIA Operations, taken as a whole;

 

“Group
Companies” means the Companies and the Subsidiaries
and “Group Company” means any one of them, provided that
references to Group Companies in respect of a time or period following First
Closing shall be deemed to exclude the A Group Companies unless the context
otherwise requires;

 

“Group
Intellectual Property” means all rights and interests held by
the Group Companies in Intellectual Property as at the date of the relevant
Closing (whether as owner or licensee);

 

“Identified
Cashflow” means the aggregate amount of any
Cashflow between the Benchmark Date and the Pre-Closing Cut-Off Date which has
been notified to the Purchaser pursuant to Clause 6.4.1;

 

5

 

“Insolvency Proceedings” means:

 

(a)                                              any
statutory procedure involving a suspension of payments, a moratorium of any
indebtedness, winding-up, dissolution, administration or reorganisation (by way
of voluntary arrangement, scheme of arrangement or otherwise) of any Group
Company or any member of the VIA Group;

 

(b)                                             a
composition, assignment or arrangement with the majority by value of its
unsecured creditors of any Group Company or any member of the VIA Group;

 

(c)                                              the
appointment of a custodian, liquidator, receiver, administrator, administrative
receiver, compulsory manager or other similar officer in respect of any Group
Company or any of its assets of any Group Company or any member of the VIA
Group;

 

(d)                                             the
enforcement of any Security over any assets of any Group Company or any member
of the VIA Group and which if not discharged within 10 Business Days would have
a material adverse effect on the business of the Group Companies and the VIA
Group taken as a whole;

 

(e)                                              the
expropriation, attachment, sequestration, distress or execution which affects
any asset or assets of a Group Company or any member of the VIA Group and which
is not discharged within 10 Business Days would have a material adverse effect
on the business of the Group Companies and the VIA Group taken as a whole; or

 

(f)                                                any
resolution by the directors of any Group Company or member of the VIA Group or
any application or petition to a court in respect of any of the processes or
events listed in paragraphs (a) to (e) above,

 

or any analogous
statutory procedure or enforcement step in any jurisdiction,

 

BUT EXCLUDING any step
taken by a third party that:

 

(i)                                                 does not
actually result in one of the processes or events described in paragraphs
(a) to (e) above being commenced or occurring in respect of that
Group Company or member of the VIA Group and is dismissed or withdrawn within
10 Business Days of presentation; and

 

(ii)                                              is made in
respect of a debt with a value purported (by the third party) to be less than
$500,000.

 

“Intellectual
Property” means trade marks, domain names, get-up,
logos, patents, design rights, copyrights (including copyrights in software),
database rights, Know-how and all other similar rights in any part of the
world, including any registration of such rights and applications and rights to
apply for such registrations;

 

“Intra-Group
Payables” means all outstanding loans or other
liabilities or obligations (including, for the avoidance of doubt, in relation
to dividends, management fees and intercompany trading balances) owed by a
Group Company to a member of the VIA Group as at the close of business on the
relevant Closing Date;

 

“Intra-Group
Receivables” means all outstanding loans or other
liabilities or obligations (including, for the avoidance of doubt, in relation
to management fees and inter-company trading balances) owed by a member of the
VIA Group to a Group Company as at the close of business on the relevant
Closing Date;

 

6

 

“Know-how”
means
confidential and/or proprietary industrial and commercial information and
techniques in any form including (without limitation) drawings, formulae, test
results, reports, project reports and testing procedures, instruction and
training manuals, tables of operating conditions, market forecasts, lists and
particulars of customers and suppliers;

 

“Letter
of Intent” means the letter agreement relating to
the subject matter of this Agreement signed by VIA Inc and the Purchaser and
dated 10 April 2005;

 

“Liabilities”
means
all liabilities, duties and obligations of every description, whether deriving
from contract, common law, statute or otherwise, whether present or future,
actual or contingent, ascertained or unascertained or disputed and whether owed
or incurred severally or jointly or as principal or surety;

 

“Licence
Agreements” means those Intellectual Property licence
agreements listed in the document entitled “Contracts” contained in the “VIA
Inc” folder in the Data Room and copies of which are included in the Data
Room;

 

“Local
Transfer Document” has the meaning given to it in Clause
2.5.1;

 

“Losses”
means
all losses, liabilities, costs (including without limitation legal costs and
experts’ and consultants’ fees), charges, expenses, actions, proceedings,
claims and demands but excluding consequential, incidental, special or punitive
damages including loss of profits or revenues;

 

“Material
Contracts” means contracts to which the Sellers or a
Group Company is a party and which account for, in the case of customers, in
excess of $150,000 of revenue per annum and, in the case of suppliers, in
excess of $100,000;

 

“Material
Group IP” means such of the Group Intellectual
Property as is material to the business of the Group;

 

“Moveable
Assets” means all existing applications and/or systems used in the
operations of the Group Companies immediately prior to the relevant Closing,
including all IT, communications, network management, back office and financial
software applications or systems (Inovaware, Coda, etc.) and network management
systems;

 

“NASDAQ”
means
the NASDAQ Stock Market Inc.;

 

“Net
Deposit Amount” means the amount of the Deposit minus
£1,000,000;

 

“Net Repayable Intra-Group
Balance Amount” means $572,369;

 

“Permitted
Application” means, in respect of any funds advanced
to either of the Sellers by Clara.net Holdings under the Facility Agreement,
the application of such funds in accordance with the Cash Requests (as defined
in the Facility Agreement) accompanying the Utilisation Request (as defined in
the Facility Agreement) pursuant to which such funds were advanced by Clara.net
Holdings;

 

“Permitted
Disposal” means any sale, lease, transfer or
disposal of an asset (other than a Charged Asset, any of the Shares or any of
the Business Assets) of a Group Company:

 

(a)                                              made in the
ordinary course of trading on arm’s length terms where the higher of the market
value of or the consideration receivable for the asset, exclusive of VAT, is
not greater than $100,000; or

 

(b)                                             comprising
customer contracts of a revenue nature in the ordinary course of business;

 

7

 

“Permitted Encumbrance” means:

 

(a)                                              any lien
arising by operation of law and in the ordinary course of trading; or

 

(b)                                             any
Encumbrance in existence as at the date of this Agreement or coming into
existence pursuant to an agreement existing as of the date of this Agreement;
or

 

(c)                                              any
Encumbrance created pursuant to the Finance Documents;

 

“Pre-Closing
Cut-Off Date” means the last day of the calendar month
prior to the calendar month in which Second Closing takes place;

 

“Properties”
means
the leasehold properties, listed in the document entitled “Real Property
Leasehold Interest Summary Relating to Office and Datacentres” contained in the
Data Room, and “Property” means
any one of them;

 

“Purchase
Price” means the First Closing Purchase Price and the Second
Closing Purchase Price in aggregate;

 

“Purchasers’
Group” means Clara.net Holdings and its subsidiaries from time to
time, including, if applicable, any Group Companies;

 

“Purchasers’
Lawyers” means Linklaters of One Silk Street, London EC2Y 8HQ;

 

“Quarterly
Lease Payment Amount” means the quarterly rent payment
specified in the Schipol Lease, payable in advance;

 

“Registered
Intellectual Property” means Intellectual Property which is
registered or the subject of an application for registration in any patent,
trade mark or other Intellectual Property registry anywhere in the world;

 

“Release
Agreement” means the release agreement in the Agreed
Terms to be entered into on or prior to First Closing among VIA Inc, Holdco and
a wholly-owned subsidiary of VIA Inc incorporated under the laws of Jersey;

 

“Relevant
Employees” means those employees listed in the document
entitled “Relevant Employees” contained in the Data Room;

 

“Relevant
Purchasers’ Warranties” has the meaning given to it in Clause
8.5;

 

“Repayable
Intra-Group Payable” means an Intra-Group Payable identified
in Part A of Schedule 10 which is to be repaid pursuant to Clause
6.5.1(i);

 

“Repayable
Intra-Group Receivable” means an intra-Group Receivable which
identified in Part B of Schedule 10 is to be repaid pursuant to Clause
6.5.2(ii);

 

“Restructuring
Action” means an action to restructure the business of any Group
Company or the VIA Operations which restructuring is carried out prior to
Closing by agreement between VIA Inc and the Purchaser; “SEC”
has the meaning given to it in Clause 4.2;

 

“Schuberg
Agreement” means the managed services agreement by
and among VIA Nederland, PSINet Netherlands B.V. and Schuberg Philis B.V. dated
21 May 2004, as amended;

 

“Schuberg
Release Date” shall have the meaning given in the
Facility Agreement;

 

“Schipol
Assignment” each full or partial assignment of the
rights and obligations of VIA Nederland under the Schipol Lease which has the
effect of releasing VIA Nederland from any and all rights and obligations under
the Schipol Lease;

 

8

 

“Schipol
Lease” means the lease dated 14 April 2003 by and among VIA
Nederland and the Schipol Lessor over the premises at H. Walaardt Sacrestraat
401-403, 1017BM Schipol, The Netherlands;

 

“Schipol
Lessor” means Bouwfonds Property Finance N.V., a private company
with limited liability, duly incorporated under the laws of The Netherlands,
having its registered office at Hoevelaken, Westerdorpstraat 66, The
Netherlands;

 

“Second
Closing” means the completion of the sale of those parts of the Group
sold pursuant to Clauses 6.1.1, 6.2 and 6.3.2 of this Agreement;

 

“Second
Closing Date” means close of business on the date on
which Second Closing takes place;

 

“Second
Closing Purchase Price” has the meaning given in Clause 3.1.2;

 

“Security”
has
the meaning given to it in the Facility Agreement;

 

“Security
Document” has the meaning given to it in the
Facility Agreement;

 

“Sellers’
Lawyers” means Hogan & Hartson of One Angel Court, London
EC2R 7HJ;

 

“Senior
Employee” means any Employee employed or engaged in
relation to the Group on an annual salary (on the basis of full-time
employment) in excess of €100,000 or local equivalent;

 

“Shares”
means
the shares in the capital of the Companies specified in Part 1 of Schedule
1;

 

“Solus
Accounts” means the audited accounts of PSINet
Germany GmbH, VIA NET.WORKS France S.A., VIA NET.WORKS España SL, VIA France
Network Holding SAS and VIA NET.WORKS UK Holding Limited comprising a balance
sheet and a profit and loss account for the twelve month period ended on 31
December 2003;

 

“SPA
Amendment and Restatement Agreement” means the
amendment and restatement agreement dated 12 July 2005 between the parties
to this Agreement pursuant to which this Agreement was amended and restated;

 

“Subsidiaries”
means
the companies listed in paragraph 2 of Schedule 2 together with any other
subsidiaries of the Companies and “Subsidiary”
means any one of them;

 

“Taxation”
or
“Tax” means all forms of taxation
whether direct or indirect and whether levied by reference to income, profits,
gains, net wealth, asset values, turnover, added value or other reference and
statutory, governmental, state, provincial, local governmental or municipal
impositions, duties, contributions, rates and levies (including without
limitation social security contributions and any other payroll taxes), whenever
and wherever imposed (whether imposed by way of a withholding or deduction for
or on account of tax or otherwise) and in respect of any person and all
penalties, charges, costs and interest relating thereto;

 

“Taxation
Benefit” means any Taxation benefit or advantage, including any loss,
relief, allowance, exemption, set-off, deduction or credit available in the
computation of any liability to Taxation;

 

“Tax
Authority” means any taxing or other authority
competent to impose any liability in respect of Taxation or responsible for the
administration and/or collection of Taxation or enforcement of any law in
relation to Taxation;

 

“Third
Party” means persons other than the Purchasers or any member of the
Purchasers’ Group;

 

9

 

“Third
Party Consents” means all consents, licences, approvals,
permits, authorisations or waivers required from third parties for the
assignment or transfer to the Relevant Purchasers or a Group Company of any of
the Contracts and “Third Party Consent” means
any one of them;

 

“Transitional
Services Agreement” means the Transitional Services Agreement
in Agreed Terms to be entered into between the Sellers and the Purchasers and
others at First Closing;

 

“UK
Sale Agreement” means the sale and purchase agreement
between Claranet Limited, CLARA.NET Holdings Limited, VIA NET.WORKS Europe
Holding B.V. and VIA Inc dated 28 September 2004;

 

“Unidentified
Cashflow” means Cashflow which is not identified
Cashflow;

 

“VAT” means
within the European Union such Tax as may be levied in accordance with (but
subject to derogations from) the Directive 77/338/EEC and outside the European
Union any Taxation levied by reference to added value or sales;

 

“VIA
Group” means VIA Inc and its subsidiaries from time to time
excluding the Group Companies;

 

“VIA
Inc Board” means the board of directors of VIA Inc;

 

“VIA
Nederland” means VIA NET.WORKS Nederland B.V.;

 

“VIA
Operations” means the activities carried on by the
Sellers in relation to or in connection with the business of the Group
Companies and being sold under this Agreement pursuant to Clause 2.3 and the
Local Transfer Documents;

 

“VIA
Shareholders” means the holders of VIA Inc’s common
stock from time to time;

 

“Warranties”
means
the warranties given by the Sellers pursuant to Clause 8 and Schedule 7 and “Warranty” means any one of them; and

 

“Working
Capital Projections” means the working capital projections, in
respect of the relevant Group Companies set out in Schedule 8 or as otherwise
agreed in writing between the parties from time to time.

 

1.2                                           Shares

 

References to shares
shall include, where relevant, quotas.

 

1.3                                           Singular, plural, gender

 

References to one gender
include all genders and references to the singular include the plural and vice
versa.

 

1.4                                           References to persons and companies

 

References to:

 

1.4.1                                 a person
include any company, partnership or unincorporated association (whether or not
having separate legal personality); and

 

1.4.2                                 a company
include any company, corporation or any body corporate, wherever incorporated.

 

10

 

1.5                                           References to subsidiaries and holding companies

 

A company is a “subsidiary” of another company (its “holding company”) if that other company,
directly or indirectly, through one or more subsidiaries:

 

1.5.1                                 holds a
majority of the voting rights in it;

 

1.5.2                                 is a member
or shareholder of it and has the right to appoint or remove a majority of its
board of directors or equivalent managing body;

 

1.5.3                                 is a member
or shareholder of it and controls alone, pursuant to an agreement with other
shareholders or members, a majority of the voting rights in it; or

 

1.5.4                                 has the
right to exercise a dominant influence over it, for example by having the right
to give directions with respect to its operating and financial policies, with
which directions its directors are obliged to comply.

 

1.6                                           Schedules etc.

 

References to this
Agreement shall include any Recitals and Schedules to it and references to
Clauses and Schedules are to Clauses of, and Schedules to, this Agreement.
References to paragraphs and Parts are to paragraphs and Parts of the
Schedules.

 

1.7                                           Information

 

References to books,
records or other information mean books, records or other information in any
form including paper, electronically stored data, magnetic media, film and
microfilm.

 

1.8                                           Currency Conversion

 

Any amount to be
converted from one currency into another currency for the purposes of this
Agreement shall be converted into an equivalent amount at the Conversion Rate
prevailing at the Relevant Date. For the purposes of this Clause:

 

“Conversion
Rate” means the spot closing mid-point rate for a transaction
between the two currencies in question on the date immediately preceding the
Relevant Date as quoted by the Financial Times, London edition or, if no such
rate is quoted on that date, on the preceding date on which such rates are
quoted;

 

“Relevant
Date” means, save as otherwise provided in this Agreement, the
date on which a payment or an assessment is to be made, save that, for the
following purposes, the date shall mean:

 

(i)                                                 for the
purposes of Clause 5.1 (The Sellers’ Obligations in Relation to the Conduct of
the Group), the date of this Agreement;

 

(ii)               for the
purposes of Clause 9 (Limitation of Sellers’ Liability), the date a claim is
made in accordance with Clause 9.1; and

 

(iii)              for the
purposes of Schedule 7 (Warranties given under Clause 8.1), the date at which
the relevant Warranty is expressed to be true and accurate.

 

1.9                                           Rights of the Seller and the Purchaser

 

1.9.1                                 The Seller
and the Relevant Sellers agree that where any right is given to a Seller under
this Agreement, such right shall be exercisable exclusively by VIA Inc and any
such exercise shall be binding on the Relevant Sellers.

 

11

 

1.9.2                                 The
Purchaser and the Relevant Purchasers agree that where any right is given to a
Purchaser under this Agreement, such right shall be exercisable exclusively by
the Purchaser and any such exercise shall be binding on the Relevant
Purchasers.

 

1.10                                    Joint and Several Liability

 

1.10.1                          The
obligations of the Sellers under this Agreement shall be joint and several.

 

1.10.2                          The
obligations of the Purchasers under this Agreement shall be joint and several.

 

1.11                                    Closing

 

When this Agreement
refers to circumstances or events at Closing or to periods before and after
Closing, such references shall for the avoidance of doubt be construed as being
to each Closing but only in relation to the sale of the Shares and VIA Operations,
if any, which are the subject of such Closing.

 

1.12                                    Date of this Agreement

 

For the avoidance of
doubt, references in this Agreement to the date of this Agreement mean 30
April 2005.

 

2                                                     Agreement to Sell the Group

 

2.1                                           Sale and Purchase of the Group

 

On and subject to the
terms of this Agreement and the Local Transfer Documents:

 

2.1.1                                 the Relevant
Sellers (each as to the Shares set out against its name in Schedule 1 and the
VIA Operations) agree to sell or procure the sale of, and

 

2.1.2                                 the Relevant
Purchasers agree (each as to the Shares set out against its name in Schedule 1
and the VIA Operations) to purchase,

 

except as otherwise
expressly provided in this Agreement, the whole of the Group as a going
concern.

 

2.2                                           Sale of the Shares

 

2.2.1                                 The Shares
shall be sold free from Encumbrances and together with all rights and
advantages attaching to them as at the date of this Agreement (including,
without limitation, the right to receive all dividends or distributions
declared, made or paid on or after the relevant Closing).

 

2.2.2                                 The Relevant
Sellers shall procure that on or prior to the relevant Closing any and all
rights of pre-emption over the Shares are waived irrevocably by the persons
entitled thereto.

 

2.3                                           Sale of the VIA Operations

 

2.3.1                                 There shall
be as the Purchaser may elect: (a) transferred to such Group Company with
effect from or before Second Closing or (b) included in the sale of the
VIA Operations under this Agreement or, where relevant, the Local Transfer
Documents, which shall be sold free from Encumbrances except for Permitted
Encumbrances:

 

(i)                                                 the Business
Intellectual Property;

 

12

 

(ii)               the
Goodwill;

 

(iii)              the Moveable
Assets;

 

(iv)                                          the rights
of the Sellers arising under the Contracts (on the terms set out in Schedule
3);

 

(v)                                             the benefit
(so far as the same can lawfully be assigned or transferred to the Relevant
Purchasers) of the Claims;

 

(vi)                                          the benefit
(so far as the same can lawfully be assigned or transferred to the Relevant
Purchasers) of any claim under an insurance policy to the extent such claim
relates exclusively to any Business Asset or Assumed Liability.

 

2.3.2                                 Subject to
Clause 2.3.3, with effect from Second Closing the Relevant Sellers agree to
transfer, or to procure the transfer, (to the extent they are able so to do)
and the Relevant Purchaser or such Group Company as the Relevant Purchasers may
elect, agrees to accept the transfer of, and to assume, duly and punctually
pay, satisfy, discharge, perform or fulfil, all Liabilities incurred by the
Relevant Sellers in relation to the Relevant Employees (in accordance with and
subject to the provisions of Schedule 4) and the Contracts. The Relevant
Sellers agree with the Relevant Purchasers that such Liabilities shall be
transferred to and assumed by the Relevant Purchasers or a member of the
Purchasers’ Group (including the Group Companies) so that the Relevant
Purchasers shall have such Liabilities (so far as the same can be lawfully
transferred) and so that the Relevant Purchasers or the Group Company, as the
case may be, shall have and be entitled to the benefit of the same rights,
powers, remedies, claims, defences, obligations and conditions (including,
without limitation, rights of set-off and counterclaim) as the Relevant Sellers
enjoyed.

 

2.3.3                                 Clause 2.3.2
shall not apply to, and the Relevant Purchasers shall not be obliged to, and
the Relevant Sellers shall procure that no Group Company shall, accept the
transfer of and to assume, duly and punctually pay, satisfy, discharge, perform
or fulfil:

 

(i)                                                 any
Liability of the Relevant Sellers or the VIA Group falling due for performance,
or which should have been performed, prior to the relevant Closing; and

 

(ii)                                              any
Liability of the Relevant Sellers or the VIA Group except for the Liabilities
referred to in Clause 2.3.2.

 

2.4                                           Relevant Employees

 

The provisions of
Schedule 4 shall apply in respect of the Relevant Employees.

 

2.5                                           Local Transfer Documents

 

2.5.1                                 In respect
of each Closing, the Relevant Sellers and the Relevant Purchasers shall execute
such agreements, transfers, conveyances and other documents (subject to the
relevant local law and otherwise as may be agreed between the Seller and the
Purchaser) to implement the transfer of (i) the Shares and (ii) the
VIA Operations which are the subject of the relevant Closing (the “Local Transfer Documents” and each, a “Local Transfer Document”).

 

13

 

2.5.2                                 To the
extent that the provisions of a Local Transfer Document are inconsistent with
or (except to the extent they implement a transfer in accordance with this
Agreement) additional to the provisions of this Agreement:

 

(i)                                                 the
provisions of this Agreement shall prevail; and

 

(ii)                                              so far as
permissible under the laws of the relevant jurisdiction, the Seller and the
Purchaser shall procure that the provisions of the relevant Local Transfer
Document are adjusted, to the extent necessary to give effect to the provisions
of this Agreement or, to the extent this is not permissible, the Seller shall
indemnify the Purchaser against all Losses suffered by the Relevant Purchasers
or, as the case may be, the Purchaser shall indemnify the Sellers against all
Losses suffered by the Relevant Sellers, in either case through or arising from
the inconsistency between the Local Transfer Document and the Agreement or the
additional provisions (except to the extent they implement a transfer in
accordance with this Agreement).

 

2.5.3                                 No Seller
shall bring any claim against the Relevant Purchasers in respect of or based
upon the Local Transfer Documents save to the extent necessary to implement any
transfer of the Shares or VIA Operations in accordance with this Agreement.

 

2.5.4                                 No Purchaser
shall bring any claim against the Relevant Sellers in respect of or based upon
the Local Transfer Documents save to the extent necessary to implement any
transfer of the Shares or VIA Operations in accordance with this Agreement.

 

3                                                     Consideration

 

3.1                                           Amount

 

3.1.1                                 The
aggregate consideration for the purchase at First Closing of the Shares
referred to in Part A of Schedule 2 under this Agreement shall be an
amount in cash equal to $9,318,437 (the “First
Closing Purchase Price”).

 

3.1.2                                 The
aggregate consideration for the purchase at Second Closing of the Shares
referred to in Part B of Schedule 2 and the Business Assets under this
Agreement and the Local Transfer Documents shall be an amount in cash equal to
the aggregate of:

 

(i)                                                 $17,081,563;

 

minus

 

(ii)                                              the Cashflow
Adjustment Amount,

 

(such aggregate amount
being the “Second Closing Purchase Price”).

 

3.2                                           Allocation of Purchase Price

 

The parties shall
co-operate in good faith prior to each Closing to allocate the consideration
between the companies and Business Assets being acquired with a view to ensuring
that such allocation is made in a mutually beneficial manner.

 

3.3                                           VAT

 

The Seller and Purchaser
agree that the Purchase Price is exclusive of VAT. If any VAT is found to be
chargeable in respect of this Agreement, it shall be payable in addition to the

 

14

 

Purchase Price, against
delivery of a valid VAT invoice (or equivalent, if any), where appropriate, in
respect of which the provisions of Schedule 5 shall apply.

 

3.4                                           Reduction of the Purchase Price

 

3.4.1                                 If any
payment is to be made by the Relevant Sellers to the Relevant Purchasers in
respect of any claim for any breach of this Agreement or any Local Transfer
Document or pursuant to an indemnity under this Agreement, the payment shall be
made by way of adjustment of the consideration paid by the Relevant Purchasers
for the particular category of Business Asset or Shares (if any) to which the
payment and/or claim relates under this Agreement and the Purchase Price shall
be deemed to be reduced by the amount of such payment.

 

3.4.2                                 If:

 

(i)                                                 the payment
and/or claim relates to more than one category of Business Asset or Shares, it
shall be allocated in a manner which reflects the impact of the matter to which
the payment and/or claim relates, failing which it shall be allocated rateably
to the relevant Business Assets or Shares by reference to the proportions in
which the Purchase Price is allocated in accordance with Clause 3.2; or

 

(ii)                                              the payment
and/or claim relates to no particular category of Business Asset or Shares, it
shall be allocated rateably to all Business Assets and Shares by reference to
the proportions in which the Purchase Price is allocated in accordance with
Clause 3.2,

 

and in each case the
Purchase Price shall be deemed to have been reduced by the amount of such
payment.

 

4                                                     Conditions

 

4.1                                           Conditions Precedent

 

The agreement contained
in Clause 2.1 to purchase and sell the Shares referred in Part B of
Schedule 2 and the Business Assets is conditional upon the approval of the VIA
Stockholders in accordance with s271 of the Delaware General Corporation Law,
and for the avoidance of doubt, the agreement to purchase and sell the Shares
referred to in Part A of Schedule 2 is not conditional upon such approval.

 

4.2                                           Responsibility for Satisfaction

 

VIA Inc shall use its
reasonable endeavours to ensure the satisfaction of the condition set out in
Clause 4.1 as soon as possible and shall as soon as reasonably practical
following the date of this Agreement file requisite proxy materials with the US
Securities and Exchange Commission (“SEC”) and
proceed to a vote of VIA Shareholders, such vote to take place no later than 31
August 2005 and, subject to the provisions of Clause 5.6, VIA Inc Board’s
recommendation that VIA Shareholders approve the transactions contemplated by
this Agreement shall be included in the materials sent to VIA Shareholders in
relation to such vote. The Purchaser shall provide a reasonable level of
cooperation to VIA Inc in connection with the preparation of the proxy statement
and shall provide the Seller with such information as it may reasonably request
from time to time.

 

15

 

4.3                                           Non-Satisfaction/Waiver

 

4.3.1                                 VIA Inc
shall give notice to the Purchaser of the satisfaction of the condition in
Clause 4.1 within one Business Day of becoming aware of the same.

 

4.3.2                                 VIA Inc may
at any time, to the extent permitted by law, waive in whole or in part and
conditionally or unconditionally the condition set out in Clause 4.1 by notice in
writing to the Purchaser.

 

4.3.3                                 If the
condition in Clause 4.1 is not satisfied or waived on or before the Back Stop
Date, save as expressly provided, this Agreement (other than Clauses 1, 5.5, 11
and 12.2 to 12.15) shall lapse and no party shall have any claim against any
other under it, save for any claim arising from breach of the obligation
contained in Clause 4.2, provided
that the terms of Clause 5.5.2 shall apply and the amounts referred to in
Clauses 5.5.2 (x), (y) and (z) shall become payable to the
Purchasers.

 

5                                                     Pre-Closing

 

5.1                                           The Sellers’ Obligations in Relation to the Conduct of the Group

 

Except (i) as may
be required by law, (ii) as may be required by any securities exchange or
regulatory or governmental body to which either of the Sellers or any Group
Company is subject (including without limitation, Euronext, the SEC or NASDAQ),
or (iii) as may be required under this Agreement, or, in the case of
sub-clauses 5.1.1, 5.1.4(i), 5.1.4(ii), 5.1.4(iii) and
5.1.4(vii) consistent with the Working Capital Projections between the
date of this Agreement and the relevant Closing, in relation to that part of
the Group which has not yet been the subject of a Closing, the Sellers and the
Group Companies:

 

5.1.1                                 shall carry
on the business of the Group as a going concern in the ordinary and usual
course as carried on since 1 January 2005;

 

5.1.2                                 shall carry
on the business of the Group consistent with the Working Capital Projections,
save in so far as agreed in writing by the Purchaser;

 

5.1.3                                 shall maintain
in force all existing insurance policies in all material respects on the same
terms and similar level of cover prevailing at the date of this Agreement for
the benefit of the Group Companies and the Sellers; and

 

5.1.4                                 without
prejudice to the generality of Clause 5.1.1, shall not without the prior
written consent of the Purchaser (such consent not to be unreasonably withheld
delayed or conditioned) do any of the following in relation to any of the Group
Companies or the VIA Operations:

 

(i)                                                 enter into
any agreement or incur any commitment involving any capital expenditure in
excess of $50,000 per item and $1,000,000 in aggregate save in respect of
agreements of a revenue nature, in which case no such limit or consent shall
apply, in each case exclusive of VAT;

 

(ii)                                              enter into
or amend any agreement or commitment (save in respect of agreements of a
revenue nature) (a) which is not capable of being terminated without
compensation at any time with three months’ notice or less or that is not in
the ordinary and usual course of business and (b) which involves or may
involve total annual expenditure in excess of $100,000 per agreement or
commitment and $1,000,000 in the aggregate, exclusive of VAT;

 

16

 

(iii)              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 asset (including any present or future revenues and rights of every
description), other than a Permitted Disposal;

 

(iv)              create any
Encumbrance over any of its assets except for a Permitted Encumbrance;

 

(v)               enter into
any new Finance Leasing Arrangement;

 

(vi)              make any
loan, or provide any form of credit or financial accommodation, to any other
person other than in the ordinary course of the business of the relevant Group
Company;

 

(vii)             other than
the late or non-payment of monies owing to the extent consistent with the
practice adopted by the Group since 1 January 2005 breach any of its
material contractual or other obligations with a person other than another
Group Company;

 

(viii)            acquire or
agree to acquire any share, shares or other interest in any company,
partnership or other venture;

 

(ix)               incur or
assume any Financial indebtedness other than pursuant to the Facility Agreement
or equipment leases entered into prior to the date of this Agreement;

 

(x)                create,
allot or issue, or grant an option to subscribe for, any share capital of any
Group Company;

 

(xi)               repay,
redeem or repurchase any share capital of any Group Company;

 

(xii)              declare,
make or pay any dividend or other distribution to shareholders;

 

(xiii)             make any
application of funds advanced to it directly or indirectly by Clara.net
Holdings under the Facility Agreement other than a Permitted Application;

 

(xiv)            save as
required by law:

 

(a)                                              make any
amendment to the terms and conditions of employment (including, without
limitation, remuneration and pension entitlements and other benefits) of any
Senior Employee;

 

(b)                                             provide or
agree to provide any gratuitous payment or benefit to any Senior Employee or
any of his dependants otherwise than in the ordinary course of business;

 

(c)                                              other than
in the case of gross misconduct, dismiss, remove or redeploy any Senior
Employee; or

 

(d)                                             engage or
appoint any additional Senior Employee;

 

(xv)             save as
expressly provided by the Facility Agreement, enter into any guarantee,
indemnity or other agreement to secure any obligation of a third party other
than on arm’s length terms or in the ordinary and usual course of business of
that Group Company; and

 

17

 

(xvi)            make any
change to its accounting practices or policies (except as required by generally
accepted accounting principles) or amend its constitutional documents;

 

(xvii)           take any
step or commit any act which might materially affect the adequacy and
sufficiency of the Group’s Computer Systems;

 

5.1.5                                 shall comply
with the provisions of Schedule 4, paragraph 1.

 

5.2                                           Sellers’ notification requirements

 

From the date of this
Agreement until Second Closing, the Seller shall notify the Purchaser forthwith
upon becoming aware that any of the following has occurred, is reasonably
likely to occur or has been threatened in writing, provided that, for the
avoidance of doubt, from and after the First Closing Date each reference to
Group Companies in this Clause 5.2 shall be construed as a reference to the B
Group Companies:

 

5.2.1                                 any actual
or potential claim or proceeding against either of the Sellers or any Group
Company in excess of $50,000, which had not been disclosed in the Data
Room on or before 7 April 2005;

 

5.2.2                                 any material
deviation in the cash flows of any Group Company from the Working Capital
Projections, a material deviation for these purposes shall be deemed to be a
deviation in cash flow of the relevant Group Company in any monthly period
exceeding 20 per cent.;

 

5.2.3                                 any
cancellation (or non-renewal) of any customer contract of a Group Company
exceeding an annual value of $50,000, which cancellation (or non-renewal)
occurs on or after 7 April 2005;

 

5.2.4                                 any
Insolvency Proceedings occur in respect of either of the Sellers or any Group
Company;

 

5.2.5                                 a material
breach of any undertaking set out in Clause 5.1; and

 

5.2.6                                 the
occurrence of any fact or matter which would have resulted in a material breach
of any Warranty had the fact or matter been known to Matt Nydell, Ray Walsh or
Joe Correia at the Benchmark Date.

 

5.3                                           The Sellers’ obligations in relation to inter-company financing

 

5.3.1                                 The Sellers
undertake that, between the date of this Agreement and Second Closing, they
will:

 

(i)                                                 procure that
there is no Cashflow in relation to any Group Company other than as set out in
the accounting books and records of the relevant Group Company or by such other
means to which the Purchaser has consented in advance, such consent to be in
writing and not to be unreasonably withheld or delayed or conditioned;

 

(ii)                                              within five
Business Days of the first day of each calendar month until Second Closing
notify the Purchaser of the aggregate amount of any Cashflow, together with
such details of the individual items of Cashflow as the Purchaser may
reasonably request, which has occurred between the date of this Agreement and
the close of business on the Friday prior to the relevant notification; and

 

18

 

(iii)              within five
Business Days of the first day of each calendar month until Second Closing
provide to the Purchaser a schedule of all creditor and debtor balances of each
Group Company, together with ageing analysis,

 

provided that, for the
avoidance of doubt, from and after the First Closing Date each reference to
Group Companies in this Clause 5.3 shall be construed as a reference to the B
Group Companies.

 

5.4                                           Other Sellers’ Obligations Prior to Closing

 

5.4.1                                 Without
prejudice to the generality of Clause 5.1, prior to Second Closing the Sellers
shall, and shall procure that the B Group Companies shall (and prior to First
Closing only that the A Group Companies shall) allow the Purchaser and its
agents and advisers, upon reasonable prior notice, reasonable access during
customary business hours and accompanied by a representative of one of the
Sellers, if the Sellers may reasonably require, to each Employee and to each
Property, and to take at the Purchaser’s expense, copies of, the books, records
and documents of or relating in whole or in part to the Group.

 

5.4.2                                 The Sellers
shall deliver to the Purchaser within 5 Business Days of the last day of each
calendar month a report of historic cash flow for the B Group Companies (and
prior to First Closing only for the A Group Companies) and the Sellers for that
month, in the same format and with the same level of detail as the Working
Capital Projections, and, at the reasonable request of the Purchasers, such
additional information or explanation in respect of the report as the Sellers
are reasonably able to provide.

 

5.5                                           Termination and Deposit

 

5.5.1                                 The
Purchaser shall be entitled, prior to Second Closing, by notice in writing to
the Seller, to terminate this Agreement (other than Clauses 1, 5.5.2, 5.5.3, 11
and 12.2 to 12.15) in the event of:

 

(i)                                                 any actual
or pending claims or proceedings against any of the Sellers or any Group
Company (for the avoidance of doubt, in respect of any A Group Company,
being only claims or proceedings that arose on or prior to the First Closing
Date) in excess of $50,000, which had not been disclosed in the Data
Room on or before 7 April 2005, and which exceed $1,000,000 in the aggregate;

 

(ii)                                              any increase
in cash outflow of the VIA Group and the Group Companies taken as a whole
measured over the period from 1 May 2005 to the end of the most recently
completed calendar month as compared to the Working Capital Projections for the
equivalent period exceeding $1,250,000, provided, for the avoidance of doubt,
that for purposes of this paragraph, any increase in cash outflow of the A
Group Companies occurring after the First Closing Date shall be ignored;

 

19

 

(iii)                                           during any
period commencing on 7 April 2005, the aggregate annualised value of
customer contracts of the Group Companies save for the contract between Alfa
Accountants and PSINet Netherlands dated 27 January 2005 cancelled (or not
renewed) exceeding the aggregate annualised value of new contracts signed by
customers (excluding renewals) (in each case counting only customer contracts
exceeding an annual value of $50,000) by an amount in excess of $1,800,000,
provided, for the avoidance of doubt, that in respect of any period ending
after the First Closing Date the value of customer contracts with A Group
Companies shall be ignored;

 

(iv)                                          prior to
First Closing any of the Sellers or any Group Company enters into Insolvency
Proceedings or after the Second Closing Date any of the Sellers or any B Group
Company enters into Insolvency Proceedings;

 

(v)                                             breach(es)
of any undertaking set out in Clause 5.1, where the aggregate Losses to the
Purchasers arising from such breach(es) would exceed $1,000,000;

 

(vi)                                          breach(es)
known to Matt Nydell, Ray Walsh or Joe Correia, of any Warranties (other than
with respect to any actual or pending claims or proceedings falling within
(i) above) where the aggregate Loss to the Purchasers resulting from such
breach(es) would exceed $1,000,000;

 

(vii)                                       a material
breach of any Finance Document by either Seller, save for a breach of Clause 13
(Representations) or Clause 14 (Operational Undertakings) of the Facility
Agreement that would not also constitute an event listed in paragraph
(i) to (vi) above; or

 

(viii)                                    a failure by
the Sellers to proceed to First or Second Closing in breach of this Agreement,

 

5.5.2                                 In the event
of:

 

(i)                                                 a
termination by the Purchaser pursuant to this Clause 5.5 or Clause 6.7.1; or

 

(ii)                                              a
termination by the Purchaser by notice in writing to the Sellers following the
earlier of:

 

(a)                                              the
condition set out in Clause 4.1 not being satisfied in time to allow Second
Closing to take place prior to the Back Stop Date; and

 

(b)                                             the Sellers
failing, in time for the meeting to take place no later than 31
August 2005:

 

(I)                                                to convene a
meeting of VIA Shareholders to approve the transaction provided for by this
Agreement; or

 

(II)                                            to send to
VIA Shareholders materials containing a recommendation of the VIA Inc Board in
the Agreed Terms that the transactions provided for by this Agreement be
approved or, having sent such a recommendation, the VIA Inc Board adversely
modifies or changes its recommendation with respect to such transaction.

 

20

 

the Sellers shall pay to
the Purchaser in same day funds:

 

(x)                                               within two
Business Days of receipt of the termination notice (or, in the case of Clause
5.5.2(x)(b) below, within two Business Days of being notified of the
relevant amount):

 

(a)                                              a break fee
in the amount of $500,000; and

 

(b)                                             the
Purchaser’s actual and incurred costs and expenses (including legal fees) in
connection with the transactions provided for by this Agreement up to a maximum
amount of $250,000;

 

(y)                                             if such
termination takes place prior to First Closing, within 20 days of receipt of
the termination notice, the Net Deposit Amount and accrued interest on the Net
Deposit Amount at a rate of 8.00 per cent. per annum, compounded daily; and

 

(z)                                               within 20
days of written demand from Clara.net Holdings in accordance with the terms of
the Facility Agreement, all amounts outstanding under the terms thereof.

 

5.5.3                                 If First
Closing has not taken place and if the Net Deposit Amount has not previously been
returned to the Purchaser pursuant to Clause 5.5.2 above and if the Purchaser
has not previously forfeited the Deposit pursuant to Clause 5.5.4 below, the
Net Deposit Amount and accrued interest on the Net Deposit Amount at a rate of
8.00 per cent. per annum, compounded daily, shall be returned to the
Purchaser within 20 days of the Back Stop Date if First Closing does not
occur on or prior to the Back Stop Date.

 

5.5.4                                 In the event
of a material breach by Clara.net Holdings of the Facility Agreement or failure
by the Purchasers to proceed to Closing in breach of this Agreement, the
Sellers shall be entitled, at any time prior to Closing, by notice in writing
to the Purchaser, to terminate this Agreement (other than Clauses 1, 5.5, 11
and 12.2 to 12.15), and upon receiving such notice (as applicable) or following
a termination of this Agreement by the Sellers pursuant to Clause 6.7.1:

 

(i)                                                 the
Purchaser shall pay to the Sellers in same day funds within two Business Days a
break fee in the amount of $500,000;

 

(ii)                                              if First
Closing has not yet taken place, the Purchaser shall forfeit the Deposit; and

 

(iii)              the Sellers
shall pay to Clara.net Holdings within 40 days of written demand from Clara.net
Holdings in accordance with the terms of the Facility Agreement, all amounts
outstanding under the terms thereof.

 

5.5.5                                 In the event
of a termination pursuant to Clause 5.5.2 and following the receipt by the
Relevant Purchaser of the amounts set out in Clauses 5.5.2(x), (y) and
(z) the Sellers shall procure that £1,000,000 is paid promptly to the
joint escrow account maintained by Eversheds LLP and Lewis Silkin to be held on
the terms set out in Schedule 7 to the UK Sale Agreement, or as the Purchaser
and the Seller may otherwise agree, and the release of VIA Inc from all
obligations and claims under the UK Sale Agreement pursuant to Clause 6.6.3
shall be rescinded with effect from the date hereof as if such release had
never been made.

 

21

 

5.5.6                                 In the event
of a termination pursuant to Clauses 5.5.4 the Purchaser shall procure that
£1,000,000 is paid promptly to the joint escrow account maintained by Eversheds
LLP and Lewis Silkin to be held on the terms set out in Schedule 7 to the UK
Sale Agreement, or as the Purchaser and the Seller may otherwise agree, and the
release of VIA Inc from all obligations and claims under the UK Sale Agreement
pursuant to Clause 6.6.3 shall be rescinded with effect from the date hereof as
if such release had never been made.

 

5.6                                           Exclusivity

 

The Sellers undertake
that:

 

5.6.1                                 it, and
members of the VIA Group and the Group Companies and its or their respective
agents, shall not make any initial or further approach to, or enter into or
continue negotiations with, any other person with a view to a Competing
Proposal taking place, provided that the VIA Inc Board or its agents may
negotiate with a Third Party in relation to a Competing Proposal if refusing to
do so would, in the reasonable determination of the VIA Inc Board based on
advice of external counsel of the Sellers, be reasonably likely to constitute a
breach of its fiduciary duties to VIA Shareholders;

 

5.6.2                                 it shall not
enter into any binding agreement in relation to a Competing Proposal and the
VIA Inc Board shall not recommend a Competing Proposal to VIA Shareholders
unless:

 

(i)                                                 to the
extent permitted by any duties of confidentiality or legal obligations to which
the Sellers were subject on or prior to 10 April 2005, the Purchasers have
first been given the opportunity, including reasonable time in the
circumstances, to at least match, to the reasonable satisfaction of the VIA Inc
Board, any such Competing Proposal; and

 

(ii)                                              the VIA Inc
Board has determined that the terms of the Competing Proposal are more
favourable to VIA Shareholders, taking into account all relevant factors,
including conditions and likelihood of closing.

 

Provided that for the
avoidance of doubt VIA Inc is under no obligation to inform the Purchasers of
any unsolicited offers it may receive in relation to any Competing Proposal
save as required in order for the Seller to comply with Clause 5.6.2(i).

 

5.6.3                                 If the VIA
Board accepts or recommends a Competing Proposal to VIA Shareholders, the
Sellers or the Purchaser may terminate this Agreement (other than Clauses 1,
5.5, 11, 12.2 to 12.15) and no party shall have any claim against any other
under this Agreement save as expressly provided by Clause 5.5.5.

 

5.7                                           Disposal Plans

 

The parties agree to
develop a disposal plan relating to certain of the Group Companies.

 

6                                                     Closing

 

6.1                                           Date and Place

 

6.1.1                                 First
Closing in respect of the Shares referred to in Part A of Schedule 2 shall
take place as soon as practicable following execution of the SPA Amendment and
Restatement Agreement at such time and place as the parties may agree.

 

22

 

6.1.2                                 Subject to
Clause 4, Second Closing shall take place at such time and place and on such
date as the parties may agree being no earlier than five Business Days
following, notification by the Seller of satisfaction of the condition set out
in Clause 4.1 and provided that such date shall not be a date later than the
seventh day of any calendar month or at such other location, time or date as
may be agreed between the Purchaser and the Seller.

 

6.2                                           Closing Events

 

On each Closing, the
parties shall comply with their respective obligations specified in
Schedule 6. The Seller may waive some or all of the obligations of the
Purchasers as set out in Schedule 6 and the Purchaser may waive some or all of
the obligations of the Sellers as set out in Schedule 6.

 

6.3                                           Payment on Closing

 

6.3.1                                 On First
Closing the Relevant Purchasers shall pay an amount in cash to the Relevant
Sellers which is equal to the aggregate of:

 

(i)                                                 the First
Closing Purchase Price;

 

minus

 

(ii)               all amounts,
including accrued interest, payable or repayable to Clara.net Holdings under
the Facility Agreement at the First Closing Date (excluding the Arrangement Fee
(as defined therein) which Clara.net Holdings hereby waives all rights to on
First Closing);

 

minus

 

(iii)                                           the Net
Deposit Amount;

 

minus

 

(iv)                                          interest
accrued on the Net Deposit Amount at the rate of 8.00 per cent per annum,
compounded daily;

 

minus

 

(v)                                             the Deferred
Amount.

 

6.3.2                                 On Second
Closing the Relevant Purchasers shall pay an amount in cash to the Relevant
Sellers which is equal to the aggregate of:

 

(i)                                                 the Second
Closing Purchase Price;

 

minus

 

(ii)               all amounts,
including accrued interest, payable or repayable to Clara.net Holdings under
the Facility Agreement at the Second Closing Date (excluding the Arrangement
Fee (as defined therein)).

 

6.3.3                                 The Deferred
Amount shall be paid by the Purchasers to the Sellers in accordance with Clause
6.9.

 

23

 

6.4                                           Cashflow

 

6.4.1                                 In respect
of First Closing, by 9.00 am (London time) on 8 July 2005, VIA Inc shall
notify the Purchaser of the aggregate amount of any Cashflow which has occurred
between the Benchmark Date and the close of business on 30 June 2005.

 

6.4.2                                 In respect
of Second Closing, by 5.00 pm (London time) on the first Business Day
immediately following the Pre-Closing Cut-Off Date, VIA Inc shall notify the
Purchaser of the aggregate amount of any Cashflow which has occurred between
the Benchmark Date and the close of business on the Pre-Closing Cut-Off Date
and shall as soon as reasonably practicable thereafter provide to the Purchaser
bank statements for each bank account of each member of the VIA Group as at the
close of business as at the Pre-Closing Cut-Off Date.

 

6.4.3                                 The Sellers
warrant that there has been no Cashflow between:

 

(i)                                                 any A Group
Company and any B Group Company; or

 

(ii)               other than
Agreed Cashflow (and other than the transfers of €100,000 from Agence des
Medias Numeriques SAS to VIA Inc on 5 July 2005 and of $11,000 from VIA
Inc to VIA NET.WORKS USA, Inc. on 7 July 2005) between any A Group
Company and any member of the VIA Group,

 

between 30 June 2005 and
the time at which the SPA Amendment and Restatement Agreement was signed.

 

6.4.4                                 The Sellers
shall procure that no Cashflow takes place without the written consent of the
Purchaser between any A Group Company and any B Group Company or, other than
Agreed Cashflow, between any A Group Company and any member of the VIA Group
from the time at which the SPA Amendment and Restatement Agreement was signed
until First Closing.

 

6.4.5                                 The Sellers
shall procure that no Cashflow takes place after close of business on the
Pre-Closing Cut-Off Date between any B Group Company and any member of the VIA
Group without the prior written consent of the Purchaser.

 

6.4.6                                 The Sellers
warrant that there are no sums owed or obligations outstanding between the A
Group Companies on the one hand and the B Group Companies on the other hand
other than the Repayable intra-Group Payables and the Repayable Intra-Group
Receivables.

 

6.5                                           Intra-Group Balances

 

6.5.1                                 Immediately
following First Closing:

 

(i)                                                 the
Purchasers shall procure that each of the relevant A Group Companies repays to
the relevant B Group Companies the amount of any Repayable Intra-Group
Payables; and

 

(ii)               the Sellers
shall procure that each relevant B Group Company repays to the relevant A Group
Companies the amount of any Repayable Intra-Group Receivables.

 

6.5.2                                 The
Purchasers acknowledge on behalf of the A Group Companies and the Sellers
acknowledge on behalf of the B Group Companies that the payments referred to in
Clauses 6.5.1(i) and (ii) above shall be satisfied by, respectively,
payments made to

 

24

 

the
Sellers on behalf of the B Group Companies and to the Purchasers on behalf of
the A Group Companies, or as such payments may be set off, and the Purchasers
and the Sellers shall procure that the A Group Companies and the B Group
Companies respectively confirm that the payment pursuant to this Clause 6.5.2
will constitute valid discharge of the obligations in respect of the Repayable
Intra-Group Receivables and the Repayable Intra-Group Payables.

 

6.5.3                                 The parties
hereby undertake to execute the Assignment Agreement and the Release Agreement
and to perform (or procure the performance of) such further acts and execute
(or procure the execution of) such further documents, as may reasonably be
necessary to carry out and give full effect to the parties’ intention that,
save as expressly provided by or pursuant to this Agreement or the Transitional
Services Agreement and, subject to Clauses 6.5.1 and 6.5.2 above, at each
Closing no sums shall be owed by the VIA Group or the Group Companies which are
not the subject of that Closing to the Group Companies which are the subject of
that Closing or vice versa and any sums owing by the VIA Group or the Group
Companies which are not the subject of that Closing to the Group Companies
which are the subject of that Closing or vice versa at Closing shall be
assigned, subordinated, forgiven or otherwise written off or capitalised by the
relevant entity in each case without any of the Purchasers, the Sellers or the
Group Companies incurring any cash cost. The Parties shall co-operate in good
faith (or procure such co-operation) with a view to ensuring that such action
is taken in a mutually beneficial tax efficient manner and in taking such
action the Sellers shall procure that the relevant members of the VIA Group use
applicable reliefs and any available accumulated tax losses to the extent
reasonably agreed by VIA Inc.

 

6.6                                           Mutual Release

 

6.6.1                                 The Sellers
undertake that on and after the relevant Closing no member of the VIA Group or
Group Company in respect of which Closing has not occurred will except as
expressly permitted under the terms of this Agreement or the Transitional
Services Agreement make any claim on any Group Company in respect of which
Closing has occurred or any of its officers or directors in respect of any
transactions, acts or omissions occurring before the relevant Closing (and, if
requested by the Purchaser, VIA Inc shall or shall procure that the relevant
member of the VIA Group or Group Company in respect of which Closing has not
occurred shall waive any such claim) such that no Group Company in respect of
which Closing has occurred shall have any Liability to any member of the VIA
Group or Group Company in respect of which Closing has not occurred save as
otherwise provided by this Agreement.

 

6.6.2                                 The
Purchasers undertake that on and after the relevant Closing no Group Company in
respect of which Closing has occurred will (except as expressly permitted under
the terms of this Agreement or the Transitional Services Agreement) make any
claim against any member of the VIA Group or any Group Company in respect of
which Closing has not occurred or any of its officers or directors in respect
of any transactions, act or omissions occurring before the relevant Closing
(and, if requested by VIA Inc, the Purchasers shall procure that the relevant
Group Companies in respect of which Closing has occurred shall waive any such
claim) such that no member of the VIA Group or any Group Company in respect of
which Closing has not occurred shall have any Liability to any Group Company in
respect of which Closing has occurred save as otherwise provided by this
Agreement.

 

25

 

6.6.3                                 The
Purchasers hereby agree that with effect from the date hereof they have no
claim of any nature whatsoever outstanding against VIA Inc or any member of the
VIA Group under the UK Sale Agreement and to the extent that any claim or
obligation exists or may exist, the Purchasers hereby waive and release VIA Inc
and each member of the VIA Group from all and any such claims and obligations.

 

6.6.4                                 Confirmation of no claims

 

(i)                                                 The Sellers
confirm that with effect from the relevant Closing each of the Sellers and each
of the Group Companies which are the subject of that Closing shall have no
claim (whether in respect of any breach of contract, compensation for loss of
office or monies due to it or on any account whatsoever) outstanding against
any of those directors of the Group Companies who are to resign with effect
from Closing.

 

(ii)                                              To the extent
that any such claim or obligation exists or may exist in relation to any fact,
matter or circumstance arising on or before the relevant Closing, the Sellers
(in relation to the period from the date of this Agreement until the relevant
Closing) and the Purchasers (from the relevant Closing) shall, other than in
the case of fraud, procure the waiver by each of the Group Companies of such
claim or obligation and, other than in the case of fraud, shall procure the
release of such directors of the Group Companies from any liability whatsoever
in respect of such claim or obligation.

 

6.7                                           Breach of Closing Obligations

 

If any party fails to
comply with any material obligation in Schedule 6 in relation to a Closing
(and for the avoidance of doubt the Sellers’ obligation under paragraph 1.1.4
of Schedule 6 is a material obligation), the Purchaser, in the case of
non-compliance by the Sellers (which has not been remedied to the reasonable
satisfaction of the Purchaser within 5 Business Days), or the Seller, in the case
of non-compliance by the Purchasers (which has not been remedied to the
reasonable satisfaction of the Sellers within 5 Business Days), shall be
entitled by written notice to the Sellers or the Purchasers, as the case may
be:

 

6.7.1                                 to terminate
this Agreement (other than Clauses 1, 5.5, 11 and 12.2 to 12.15) without
liability on its part or on the part of those on whose behalf notice is served
whereupon, (i) in the case of such non-compliance by any of the Sellers,
the amounts referred to in Clauses 5.5.2(x), (y) and (z) shall become
payable or (ii) in the case of such non-compliance by any of the
Purchasers, the amounts referred to in Clause 5.5.4 shall become payable; or

 

6.7.2                                 to effect
the relevant Closing so far as practicable having regard to the defaults which
have occurred provided that the Relevant Sellers shall not be required to sell
the Shares and the VIA Operations which are the subject of that Closing unless
all of the Shares and the VIA Operations which are the subject of that Closing
are purchased simultaneously and provided further that the Relevant Purchasers
shall not be required to purchase the Shares and the VIA Operations which are
the subject of that Closing unless all of the Shares and the VIA Operations
which are the subject of that Closing are sold simultaneously; or

 

6.7.3                                 to fix a new
date for the relevant Closing (not being more than 20 Business Days after the
agreed date for the relevant Closing) in which case the provisions of Schedule 6

 

26

 

shall
apply to the relevant Closing as so deferred but provided such deferral may
only occur once.

 

6.8                                           Books and Records

 

The Purchasers shall and
shall procure that the Group Companies shall, retain for a period of twelve
months from First Closing or such longer period as is necessary for the Sellers
to close their books and file their tax returns for 2005 and allow the Sellers
or the Sellers’ representatives to have reasonable access (at all reasonable
times during normal business hours and on reasonable advance notice) to (and at
the Sellers’ expense, copies of) the books, records and documents relating to
the Group, to the extent that they relate to the period prior to the relevant
Closing and to the extent reasonably required by the Sellers to comply with any
relevant law or regulations or in connection with the preparation and agreement
of any accounting, tax or other records.

 

6.9                                           Schipol Lease

 

6.9.1                                 From the
date of this Agreement, the Seller shall use its reasonable endeavours to procure
the assignment of the rights and obligations under the Schipol Lease to a third
party, such assignment to constitute a full release of VIA Nederland from all
rights and obligations under the Schipol Lease. The Seller shall keep the
Purchasers informed as to efforts undertaken pursuant to this Clause 6.9.1 and
shall promptly provide notice to the Purchasers of each Schipol Assignment. The
Purchasers shall provide all reasonable assistance and information as the
Seller may reasonably require in connection with
any proposed Schipol Assignment. The Sellers shall indemnify and keep
indemnified the Purchasers against all external costs (including legal costs)
incurred by the Purchasers or VIA Nederland in relation to the Schipol Lease or
any Schipol Assignment.

 

6.9.2                                 At all times
prior to the assignment of all of the rights and obligations of VIA Nederland
under the Schipol Lease in accordance with Clause 6.9.1, the Seller shall on
the quarterly due date for such payment pay (or procure the timely payment of)
the Quarterly Lease Payment Amount, less all amounts payable by a third party
pursuant to a Schipol Assignment. Such amounts shall be paid to the Schipol
Lessor in accordance with the terms of the Schipol Lease.

 

6.9.3                                 Upon any
third party entering into a Schipol Assignment, the Purchasers shall promptly
pay to the Seller (or procure the payment of) an amount equal to the Deferred
Amount multiplied by a fraction, the numerator of which is aggregate value of
all rent payments to be made pursuant to the terms of the Schipol Assignment to
the expiration date of the Schipol Lease and the denominator of which is the
aggregate value of all rent payments to be made pursuant to the terms of the
Schipol Lease until its expiration date.

 

6.9.4                                 Any such
payment by the Purchasers shall be made in Euro. Any such payment shall be
treated as a reduction of the Deferred Amount, until the Deferred Amount shall
have been reduced to zero. At such time, subject to release of all restrictions
over the Blocked Account, the Purchasers shall cooperate with and provide all
such reasonable assistance as the Seller may reasonably require in connection
with the release of 50% of the Blocked Amount from the Blocked Account by the
Schipol Lessor to the order of the Seller.

 

27

 

6.9.5                                 If at any
time prior to Second Closing there shall be one or more Schipol Assignments
constituting a full assignment of the rights and obligations of VIA Nederland
under the Schipol Lease to a B Group Company and releasing VIA Nederland from
all rights and obligations under the Schipol Lease, the Purchasers shall
cooperate with and, subject to release of all restrictions over the Blocked
Account, provide all such reasonable assistance as the Seller may reasonably
require in connection with the release of 50% of the Blocked Amount from the
Blocked Account by the Schipol Lessor to the order of the Seller, provided that
unless prior to Second Closing there has been a subsequent assignment of the
Schipol Lease to a person which is not a B Group Company such that the relevant
B Group Company is released from all rights and obligations under the Schipol
Lease, there shall be withheld by the Purchasers from the payment of the Second
Closing Purchase Price an amount equal to the aggregate of (i) the amount
released from the Blocked Account to the order of the Seller pursuant to Clause
6.9.4 and (ii) the amount of outstanding liabilities under the Schipol
Lease at the relevant time (calculated on a basis consistent with that used by
the parties for the purposes of calculating such liability at the time the
Restatement and Amendment Agreement was entered into) and the provisions of
Clauses 6.9.1 and 6.9.3 shall apply mutatis mutandis in relation to the amount
so withheld.

 

6.9.6                                 Notwithstanding
the foregoing provisions, if the assignee of the Schipol Lease is a B Group
Company, no part of the Deferred Amount shall become payable to the Sellers
prior to 5 August 2005.

 

6.9.7                                 In the event
that the Schipol Lease is partially assigned and the outstanding liabilities of
the Seller in relation to the Schipol Lease amount to less than 50% of the
Blocked Amount, then the Seller shall be entitled to draw from the Blocked
Account in an amount up to 50% of the Blocked Amount in order to satisfy such
outstanding liabilities.

 

6.10                                    Schuberg Contract

 

In
the event of termination of the Schuberg Contract at any time prior to the
Back-Stop Date, the Purchaser agrees to procure the transfer to the Seller of
all hardware (i) that is located at the Schuberg premises, (ii) that
is used in connection with the services provided by Schuberg Philis B.V.
pursuant to the Schuberg Contract or (iii) to which VIA Nederland has any
right as a result of such termination.

 

7                                                     Post-Closing Obligations

 

7.1                                           Indemnities

 

7.1.1                                 Indemnity by Relevant Purchasers against Assumed Liabilities

 

The
Relevant Purchasers shall indemnify and keep indemnified the Relevant Sellers
against:

 

(i)                                                 all Assumed
Liabilities and any Liability of the Relevant Purchasers and/or any other person
incurred in the course of carrying on the business of that part of the Group
which was the subject of the relevant Closing after that Closing including, for
the avoidance of doubt, any such Liability which is or is deemed to be or
becomes a Liability of the Relevant Sellers by virtue of any applicable law;
and

 

28

 

(ii)                                              any Losses
which any of the Relevant Sellers may suffer by reason of either of the Sellers
taking any reasonable action to avoid, resist or defend against any Liability
referred to in Clause 7.1.1(i);

 

Provided
that the Relevant Purchasers shall not be liable under this Clause 7.1.1 to the
extent the Relevant Purchasers have a valid claim against the Relevant Sellers
under this Agreement in respect of the Liability in question.

 

7.1.2                                 Indemnity by Relevant Sellers against Excluded Liabilities

 

The
Relevant Sellers shall indemnify and keep indemnified the Relevant Purchasers
against:

 

(i)                                                 any
Liability of the Sellers which is not an Assumed Liability including any such
Liability which is deemed to be, or becomes, a Liability of the Relevant
Purchasers by virtue of any applicable law and which is not otherwise assumed
by the Relevant Purchasers under this Agreement or any Local Transfer Document;
and

 

(ii)                                              any Losses
which the Relevant Purchasers may suffer by reason of either of the Purchasers
taking any reasonable action to avoid, resist or defend against any Liability
referred to in Clause 7.1.2(i),

 

provided
that the Relevant Sellers shall not be liable under this Clause 7.1.2 to the
extent that the Relevant Sellers have a valid claim against the Relevant
Purchasers under this Agreement in respect of the Liability in question.

 

7.2                                           Covenants in respect of certain matters

 

7.2.1                                 The Sellers shall
indemnify and keep indemnified the Relevant Purchasers and each Group Company
against:

 

(i)                                                 any Losses
arising prior to the Pre-Closing Cut-Off Date as a result of any Unidentified
Cashflow to the extent such Unidentified Cashflow would have resulted in a
Cashflow Adjustment Amount had it been identified pursuant to Clause 6.4.1;

 

(ii)               any Losses
arising after the Pre-Closing Cut-Off Date as a result of any Unidentified
Cashflow;

 

(iii)              any Losses
arising as a result of a breach of Clauses 6.4.3, 6.4.4 or 6.4.6;

 

(iv)                                          all Losses
of VIA Nederland incurred in relation to the lease for the Schipol Netherlands
headquarters and pending completion of the novation of such lease pursuant to
Clause 5.4.5 VIA Nederland shall retain its rights in respect of the cash
deposit securing the obligations under such lease and the related guarantee;
and

 

(v)                                             all Losses
arising as a result of a failure by the Sellers to comply with Clause 5.4.6 or
paragraph 1.1.3 of Schedule 6.

 

7.2.2                                 The
Purchasers shall pay to the Seller within ten days of First Closing €25,833,
being an amount equal to one month’s gross remuneration of Dick Theunissen and
Nathan Wajsman.

 

29

 

7.3                                           Conduct of Claims

 

7.3.1                                 Assumed Liabilities

 

(i)                                                 If any of the
Sellers becomes aware after a Closing of any claim against it which constitutes
or may constitute an Assumed Liability, the Seller in question shall as soon as
reasonably practicable (but in any event within such period as will afford the
Relevant Purchasers reasonable opportunity of requiring the Seller in question
to lodge a timely appeal) give written notice thereof to the Relevant
Purchasers and shall not admit, compromise, settle, discharge or otherwise deal
with such claim without the prior agreement of the Relevant Purchasers.

 

(ii)                                              The Relevant
Sellers shall take such action as the Relevant Purchasers may reasonably
request to avoid, dispute, resist, appeal, compromise, defend or mitigate any
claim which constitutes or may constitute an Assumed Liability subject to the
Relevant Sellers being indemnified and secured to their reasonable satisfaction
by the Relevant Purchasers against all Losses which may thereby be incurred. In
connection therewith the Relevant Sellers shall make or procure to be made
available to the Relevant Purchasers or their duly authorised agents on
reasonable notice during normal business hours all relevant books of account,
records and correspondence relating to the Group which have been retained by
the Relevant Sellers (and shall permit the Relevant Purchasers to take copies
thereof at the Relevant Purchasers’ expense) for the purposes of enabling the
Relevant Purchasers to ascertain or extract any information relevant to the
claim.

 

7.3.2                                 Excluded Liabilities etc.

 

(i)                                                 If the Relevant
Purchasers become aware after a Closing of any claim which constitutes or may
constitute an Excluded Liability or which could give rise to a liability for a
member of the Purchasers’ Group in respect of which it is entitled to be
indemnified by a Relevant Seller, the Relevant Purchasers shall as soon as
reasonably practicable (but in any event within such period as will afford the
Relevant Sellers reasonable opportunity of requiring the Relevant Purchasers to
lodge a timely appeal) give written notice thereof to VIA Inc and shall not
admit, compromise, settle, discharge or otherwise deal with such claim without
the prior agreement of VIA Inc.

 

(ii)                                              The Relevant
Purchasers shall take such action as VIA Inc may reasonably request to avoid,
dispute, resist, appeal, compromise, defend or mitigate any claim which
constitutes or may constitute an Excluded Liability or other liability in
respect of which the Relevant Purchasers are entitled to be indemnified subject
to the Relevant Purchasers being indemnified and secured to their reasonable
satisfaction by the Relevant Sellers against all Losses which may thereby be
incurred. In connection therewith the Relevant Purchasers shall make or procure
to be made available to the Relevant Sellers or their duly authorised agents on
reasonable notice during normal business hours all relevant books of account,
records and correspondence relating to the Group which are in the possession of
the Relevant Purchasers (and shall permit the Relevant Sellers to take copies

 

30

 

thereof
at the Relevant Sellers’ expense) for the purposes of enabling the Relevant
Sellers to ascertain or extract any information relevant to the claim.

 

7.4                                           Release of Guarantees etc.

 

The
provisions of Schedule 9 shall apply.

 

7.5                                           The Seller’s Continuing Obligations

 

Notwithstanding
Closing, the Sellers shall so far as reasonably practicable and for a period
not exceeding three months after Second Closing (or, if Second Closing does not
take place, First Closing):

 

7.5.1                                 procure that
senior executives of VIA Inc respond to inquiries and provide reasonable
assistance and information as they may reasonably require relating to the
Group, its employees (including for the avoidance of doubt, the Relevant Employees),
customers and suppliers, its current contracts and engagements and its trade
debtors and trade creditors and pass on any trade enquiry which the Sellers
receive, provided that such requests do not impose a material burden on such
individual’s working time;

 

7.5.2                                 subject to Schedule 5,
retain or procure the retention, for a reasonable period from Second Closing
the books, records and documents of the Group to the extent they relate to the
Group for the period prior to Second Closing (or, if Second Closing does not
take place, First Closing) and shall allow the Relevant Purchasers reasonable
access on reasonable prior written notice to such books, records and documents,
including the right to take copies at the Relevant Purchasers’ expense;

 

7.5.3                                 in addition
to the Sellers’ obligations in Schedule 3, if any right or asset used in
the business of the Group immediately prior to the relevant Closing (other than
any right or asset expressly excluded from the sale under this Agreement) has
not been transferred to the Relevant Purchasers, transfer such right or asset
(and any related liability which is an Assumed Liability) to the extent legally
possible and at the Relevant Purchasers’ cost as soon as practicable to a
member of the Purchasers’ Group nominated by the Relevant Purchasers and
reasonably acceptable to the Sellers.

 

7.6                                           Transitional Services Agreement

 

The
parties agree that the provisions of the Transitional Services Agreement shall
apply to services to be provided following First Closing.

 

8                                                     Warranties

 

8.1                                           Sellers’ Warranties

 

8.1.1                                 The Sellers
warrant to the Relevant Purchasers that the statements set out in Schedule 7
are true and accurate as of the date of this Agreement and the Amendment Date.

 

8.1.2                                 Each of the
Warranties shall be separate and independent and shall not be limited by
reference to any other paragraph of Schedule 7.

 

31

 

8.1.3                                 Each
Warranty, except for those set out in paragraphs 1.1.1, 1.1.3 and 4.3 (title)
and 15 (insolvency) in Schedule 7, shall be deemed to be qualified by
reference to the actual knowledge of Matt Nydell, Ray Walsh and Joe Correia
having made reasonable enquiries of the managing directors and the finance
directors of each of the Group Companies with regard to the subject matter of
the relevant Warranty.

 

8.2                                           Sellers’ Disclosures

 

8.2.1                                 The
Warranties are subject to the matters which are fully and fairly disclosed in
this Agreement, the Disclosure Letter or the Data Room in each case at the
date of this Agreement or, in the case of the Warranties repeated at the
Amendment Date, at the Amendment Date provided that such matters are disclosed
in sufficient detail to enable a reasonable purchaser to identify the nature of
the matter disclosed and provided that the Sellers are under no obligation to
have brought to the Relevant Purchasers’ attention any specific matter
documented in the Data Room. For the avoidance of doubt, the Purchasers
acknowledge that disclosure of a document in the Data Room shall not be
regarded as not fairly disclosed by reason of such document being written in a
language other than English.

 

8.2.2                                 The parties
agree that each document in the Data Room at the date of this Agreement
shall be considered to be disclosed against each of the Warranties or, in
relation to the Warranties repeated at the Amendment Date, each document in the
Data Room at the Amendment Date.

 

8.3                                           Updating of the Warranties to Closing

 

Subject
to Clause 8.2, including without limitation the Disclosure Letter and the Data Room as
updated as at the relevant Closing, the Sellers further warrant to the Relevant
Purchasers that the Warranties will be true and accurate at the relevant
Closing as if they had been repeated at the relevant Closing by reference to
the facts and circumstances then existing and on the basis that any reference
in the Warranties, whether express or implied, to the date of this Agreement is
substituted by a reference to the Closing Date provided always that the
Purchasers’ sole remedy for any breach of any such Warranties shall be as set
out in Clause 5.5.1.

 

8.4                                           The Sellers’ Waiver of Rights against the Group

 

Save
in the case of fraud, the Sellers undertake to the Relevant Purchasers and to
the Group Companies and their respective directors, officers and agents and to
the Relevant Employees to waive any rights, remedies or claims which they may
have in respect of any misrepresentation, inaccuracy or omission in or from any
information or advice supplied or given by the Group Companies or their
respective directors, officers or agents or the Relevant Employees in
connection with assisting the Sellers in the giving of any Warranty or the
preparation of the Disclosure Letter.

 

8.5                                           Relevant Purchasers’ Warranties

 

8.5.1                                 The Relevant
Purchasers warrant to the Sellers that each of the following warranties (the “Relevant Purchasers’ Warranties”) is true
and accurate in all respects on the
date of this Agreement and shall continue to remain true and accurate in all
respects up to and including each Closing Date as if they had been repeated at
the relevant Closing by reference to the facts and circumstances then existing
and on the basis that

 

32

 

any
reference in the Relevant Purchasers’ Warranties, whether express or implied,
to the date of this Agreement is substituted by a reference to the relevant
Closing Date:

 

(i)                                                 Claranet
Group Limited is duly organised, validly existing and duly incorporated under
the laws of England and Wales;

 

(ii)                                              Clara.net
Holdings Limited is duly organised, validly existing and duly incorporated
under the laws of Jersey;

 

(iii)                                           the Relevant
Purchasers have full corporate power and authority to enter into and perform
their obligations under this Agreement and each document to be entered into
pursuant hereto and all actions have been taken by them which are necessary for
them to execute and perform their obligations under this Agreement and each
document to be entered into pursuant hereto;

 

(iv)                                          the
execution of and performance by the Relevant Purchasers of their obligations
under this Agreement and each document to be entered into pursuant hereto have
been duly authorised by their boards of directors and by all other necessary
corporate action; and

 

(v)                                             the Relevant
Purchasers’ obligations under this Agreement and each document to be executed
by them at or before each Closing are, or when the relevant document is
executed, will be valid and binding on the Relevant Purchasers in accordance
with its terms; and

 

(vi)                                          the Relevant
Purchasers have or will have at each Closing sufficient funds to pay the
Purchase Price attributable to such Closing.

 

8.5.2                                 The Relevant
Purchasers’ Warranties shall not in any respect be extinguished or affected by
Closing.

 

8.5.3                                 Each of the
Relevant Purchasers’ Warranties shall be construed as a separate and
independent Warranty and shall not be limited or restricted in its scope by
reference to, or inference from any other term of another Relevant Purchasers’
Warranty or any term of this Agreement.

 

8.6                                           Purchaser’s Confirmation

 

8.6.1                                 Each of the
Relevant Purchasers warrants to the Sellers that as at the time of execution of
this Agreement with regard to the A Group Companies, it is not aware of any
fact or matter falling within those events set out in Clause 5.5.1 or Clause 6.7.1
having occurred and continuing in respect of the A Group Companies.

 

8.6.2                                 The Sellers
and Relevant Purchasers each agree and acknowledge that each of the Relevant
Purchasers does not make any warranty in respect of its awareness of any fact
or matter falling within those events set out in Clause 5.5.1 or Clause 6.7.1
with regard to the B Group Companies and that it expressly reserves its rights
in respect of any such fact or matter, whether pursuant to this Agreement, the
Facility Agreement dated 30 April 2005 (prior to its amendment on 12 July 2005)
or otherwise.

 

33

 

9                                                     Limitation of Seller’s Liability

 

9.1                                           Time Limitation for Claims

 

Notwithstanding
any other provisions of this Agreement or the Facility Agreement to the
contrary, the Sellers shall not be liable for breach of any Warranty in respect
of any claim:

 

9.1.1                                 unless a
notice of the claim is given by the Relevant Purchaser to VIA Inc including
reasonable details of the claim and so far as practicable an estimate of the
amount of any claim within three months following Second Closing (or, if Second
Closing does not take place, First Closing); and

 

9.1.2                                 which claim
is not satisfied, settled or withdrawn within six months of the date of
notification of the claim under this Clause 9.1.1 unless proceedings in respect
of it have been commenced by being both issued and served on either of the
Sellers,

 

except
that there shall be no time limitation for giving notice of any claim under
paragraphs 1.1.1, 1.1.3 and 4.3 of Schedule 7 (title warranties).

 

9.2                                           Aggregate Minimum Claims

 

9.2.1                                 The Sellers
shall not be liable under this Agreement for breach of any Warranty in respect
of any claim unless the aggregate amount of all claims for which the Sellers
would otherwise be liable under this Agreement for breach of any Warranty
(disregarding the provisions of this Clause 9.2) exceeds $1,000,000.

 

9.2.2                                 Where the
liability agreed or determined in respect of all claims exceeds $1,000,000
subject as provided elsewhere in this Clause 9, the Sellers shall be liable for
the aggregate amount of all claims as agreed or determined.

 

9.3                                           Maximum Liability

 

The
aggregate liability of the Sellers in respect of any claim under this Agreement
and all documents to be entered into pursuant hereto shall not exceed 33 per
cent. of the Purchase Price.

 

9.4                                           Matters Arising Subsequent to this Agreement

 

9.4.1                                 The Sellers
shall not be liable under this Agreement for breach of any Warranty in respect
of any matter, act, omission or circumstance (or any combination thereof),
including the aggravation of a matter or circumstance, to the extent that the
same would not have occurred but for:

 

(i)                                                 Agreed
matters

 

any
matter or thing done or omitted to be done pursuant to and in compliance with
this Agreement or any Local Transfer Document or otherwise at the request in
writing or with the approval in writing of the Purchaser;

 

(ii)                                              Changes in
legislation

 

(a)                                              the passing
of, or any change in, after the relevant Closing of any law, rule, regulation
or administrative practice of any government, governmental department, agency
or regulatory body including (without prejudice to the generality of the

 

34

 

foregoing) any increase
in the rates of Taxation or any imposition of Taxation or any withdrawal of
relief from Taxation not actually (or prospectively) in effect at the date of
the relevant Closing; or

 

(b)                                             any change
after the relevant Closing of any generally accepted interpretation or
application of any legislation.

 

9.5                                           Insurance

 

The
Sellers shall not be liable under this Agreement or any Local Transfer Document
for breach of any Warranty to the extent that the Losses in respect of which
such claim is made (i) are covered by a policy of insurance and payment is
made by the insurer to a Group Company or (ii) would have been covered
under a policy of insurance of a Group Company in force at the date of this
Agreement.

 

9.6                                           Mitigation

 

Nothing
in this Agreement shall restrict or limit the Purchasers’ general obligation at
law to mitigate a loss which it may incur as a result of a matter giving rise
to or which may give rise to a claim under this Agreement.

 

9.7                                           Double Claims

 

The
Purchasers shall not be entitled to recover from the Sellers under this
Agreement more than once in respect of the same Losses suffered. For the
avoidance of doubt, the Sellers shall not be liable under this Agreement for
breach of any Warranty to the extent that such matter, act, omission or
circumstance (or any combination thereof) has been taken into account or
contemplated by the Cashflow Adjustment Amount or the Working Capital
Projections.

 

10                                              Intellectual Property

 

10.1                                    Prohibition on Use

 

Subject
to Clause 10.2, the Sellers shall not, from the relevant Closing, use or authorise
any third party to use:

 

10.1.1                          any Business
Intellectual Property transferred to the Relevant Purchaser or a Group Company;
or

 

10.1.2                          any Group
Intellectual Property owned by a Group Company,

 

which
is the subject of that Closing in relation to or in connection with any
activities of the Sellers.

 

10.2                                    Sellers’ Name

 

Notwithstanding
Clause 10.1, the Sellers shall be permitted to continue using the VIA NET.WORKS
trade mark until the earlier to occur of (i) the date on which trading of
VIA Inc’s common stock on NASDAQ and Euronext ceases and (ii) VIA Inc
having completed a distribution to the VIA Shareholders. Within 20 days of the
expiry of such period, the Sellers shall change their names so that they do not
incorporate VIA NET.WORKS, any other trade mark or name belonging to a Relevant
Purchaser or a Group Company or anything confusingly similar thereto.

 

35

 

10.3                                    Power of attorney

 

The
Sellers hereby appoint the Purchaser from the Closing Date as their attorney
for the purposes of executing all documents and performing all acts necessary
to give full effect to the assignment of the Business Intellectual Property to
the Relevant Purchaser or a Group Company pursuant to Clause 2.3.1.

 

11                                              Confidentiality

 

11.1                                    Announcements

 

Pending
Second Closing no announcement or circular in connection with the existence or
the subject matter of this Agreement or any agreement to be entered into
pursuant hereto shall be made or issued by or on behalf of any member of the
VIA Group or the Purchasers’ Group (including for the purposes of this Clause
11.1, any holding company (as defined in the Companies Act 1985) of the
Purchaser or a subsidiary of a holding company of the Purchaser) without the
prior written approval of VIA Inc and the Purchaser, such approval not to be
unreasonably withheld, delayed or conditioned. This shall not affect any
announcement or circular required by law or any regulatory body or the rules of
any recognised stock exchange on which the shares of either party are listed
but the party with an obligation to make an announcement or issue a circular
shall consult with the other parties insofar as is reasonably practicable
before complying with such an obligation.

 

11.2                                    Confidentiality

 

The
Confidentiality Agreement shall cease to have any force or effect from First
Closing in relation to the A Group Companies and the Second Closing Date in
respect of that part of the Group which is the subject of the Second Closing.

 

12                                              Other Provisions

 

12.1                                    Further Assurances

 

Each
of the parties shall at its own cost from time to time execute such documents
and perform such acts and things as any party may reasonably require to
transfer the Shares and VIA Operations to the Relevant Purchaser and to give
any party the full benefit of this Agreement and any Local Transfer Document.

 

12.2                                    Whole Agreement

 

12.2.1                          This
Agreement contains the whole agreement between the parties relating to the
subject matter of this Agreement at the date hereof to the exclusion of any terms
implied by law which may be excluded by contract and supersedes any previous
written or oral agreement between the parties in relation to the matters dealt
with in this Agreement.

 

12.2.2                          In Clauses
12.2.1, 12.3, 12.7.2, “this Agreement” includes the Disclosure Letter, the
Local Transfer Documents, the Finance Documents and all documents entered into
pursuant to this Agreement.

 

36

 

12.3                                    Relevant Purchasers’ Liability

 

The
maximum liability of the Purchasers for any breach of this Agreement shall be
the payment of the amounts referred to in Clauses 5.5.4 and 5.5.6.

 

12.4                                    Reasonableness

 

Each
of the parties confirms that it has received independent legal advice relating
to all the matters provided for in this Agreement and agrees that the
provisions of this Agreement are fair and reasonable.

 

12.5                                    Third Party Rights

 

A
person who is not a party to this Agreement has no right under the Contracts
(Rights of Third Parties) Act 1999 to enforce any term of, or enjoy any benefit
under, this Agreement.

 

12.6                                    Variation

 

No
variation of this Agreement shall be effective unless in writing and signed by
or on behalf of each of the parties.

 

12.7                                    Costs

 

Except
as otherwise expressly provided in this Agreement:

 

12.7.1                          the Sellers
shall bear all costs incurred by them in connection with the preparation,
negotiation and execution of this Agreement and the Finance Documents and the
sale of the Group provided that any notarial fees shall not be included in the
calculation of any deviation from the Working Capital Projections for the
purposes of Clause 5.5.1(ii);

 

12.7.2                          the
Purchasers shall bear all such costs incurred by them in connection with the
preparation, negotiation and execution of this Agreement and the purchase of
the Group.

 

12.8                                    Interest

 

If
any party defaults in the payment when due of any sum payable under this
Agreement, (howsoever determined) the liability of that party shall, save as
otherwise expressly provided, be increased to include interest on such sum from
the date when such payment is due until the date of actual payment (as well
after as before judgment) at a rate per annum of two per cent above the base
rate of LIBOR for monthly deposits. Such interest shall accrue from day to day.

 

12.9                                    Grossing-up of Indemnity Payments, VAT

 

12.9.1                          All sums
payable under this Agreement pursuant to an indemnity, compensation or
reimbursement provision shall be paid free and clear of all deductions,
withholdings, set-offs or counterclaims whatsoever save only as may be required
by law. If any deductions or withholdings are required by law the party making
the payment shall (except to the extent such sums comprise interest) be obliged
to pay to the other party such sum as will after such deduction or withholding
has been made leave the other party with the same amount as it would have been
entitled to receive in the absence of any such requirement to make a deduction
or withholding.

 

37

 

12.9.2                          Where any
payment is made under this Agreement pursuant to an indemnity, compensation or
reimbursement provision and that sum is subject to a charge to Taxation in the
hands of the recipient (other than Taxation attributable to a payment being
properly treated as an adjustment to the consideration paid by the Relevant
Purchaser for the Group) the sum payable shall be increased to such sum as will
ensure that after payment of such Taxation (and after giving credit for any tax
relief available to the recipient in respect of the matter giving rise to the
payment) the recipient shall be left with a sum equal to the sum that it would
have received in the absence of such a charge to taxation.

 

12.9.3                          Where any
sum constituting an indemnity, compensation or reimbursement to any party to
this Agreement (the “Party”) is
paid to a person other than the Party but is treated as taxable in the hands of
the Party, the payer shall promptly pay to the Party such sum as shall
reimburse the Party for all Taxation suffered by it in respect of the payment
(after giving credit for any tax relief available to the Party in respect of
the matter giving rise to the payment).

 

12.10                             Permitted assignment and nomination of Purchasers

 

12.10.1                   Except as
otherwise expressly provided in this Agreement, the Relevant Purchasers may,
with the prior written consent of the Seller (such consent not to be
unreasonably withheld, delayed or conditioned), assign to a third party
purchaser of any of the Group Companies, and without the consent of the Sellers
assign to a wholly-owned member of the Purchaser’s Group, the benefit of all or
any of the Sellers’ obligations under this Agreement provided that the maximum
liability of any of any party hereunder for breach of any obligation under this
Agreement or under any indemnity contained in or entered into pursuant to this
Agreement shall be limited to the liability which would have arisen in the
absence of any such assignment by the Relevant Purchasers.

 

12.10.2                   The
Purchaser shall be entitled by giving not less than two Business Days’ notice
before the Closing to nominate a wholly-owned subsidiary or holding company to
assume the rights and obligations of a Relevant Purchaser under this Agreement
provided that the Purchaser shall remain jointly and severally liable under
this Agreement.

 

12.11                             Notices

 

12.11.1                   Any notice
or other communication in connection with this Agreement (each, a “Notice”) shall be:

 

(i)                in writing
in English;

 

(ii)             delivered by
hand, fax, registered post or by courier using an internationally recognised
courier company.

 

38

 

12.11.2                   A Notice to
the Sellers or to either of them shall be sent to the following address, or
such other person or address as the Sellers or VIA Inc may notify to the
Relevant Purchasers from time to time:

 

VIA NET.WORKS Inc

H. Walaardt Sacrestraat 401-403

1117 BM Schipol

The Netherlands

 

Fax:                 +31 205 020 0001

 

Attention:                  Matt Nydell
(Senior Vice President and General Counsel and Secretary)

 

12.11.3                   A Notice to
the Relevant Purchasers shall be sent to the following address, or such other
person or address as the Relevant Purchasers may notify to the Sellers from
time to time:

 

Claranet Group Limited

21 Southampton Row

London WC1B 5HA

 

Fax:                 +44 20 7681
2564

 

Attention:                  Charles
Nasser

 

12.11.4                   A Notice
shall be effective upon receipt and shall be deemed to have been received:

 

(i)                at the time
of delivery, if delivered by hand, registered post or courier;

 

(ii)             at the time
of transmission in legible form, if delivered by fax.

 

12.12                             Invalidity

 

12.12.1                   If any
provision in this Agreement shall be held to be illegal, invalid or
unenforceable, in whole or in part, the provision shall apply with whatever
deletion or modification is necessary so that the provision is legal, valid and
enforceable and gives effect to the commercial intention of the parties.

 

12.12.2                   To the
extent it is not possible to delete or modify the provision, in whole or in
part, under Clause 12.12.1, then such provision or part of it shall, to the
extent that it is illegal, invalid or unenforceable, be deemed not to form part
of this Agreement and the legality, validity and enforceability of the
remainder of this Agreement shall, subject to any deletion or modification made
under Clause 12.12.1, not be affected.

 

12.13                             Counterparts

 

This
Agreement may be entered into in any number of counterparts, all of which taken
together shall constitute one and the same instrument. Any party may enter into
this Agreement by signing any such counterpart.

 

12.14                             Governing Law and Submission to Jurisdiction

 

12.14.1                   This
Agreement and the documents to be entered into pursuant to it, save as expressly
referred to therein, shall be governed by and construed in accordance with
English law.

 

12.14.2                   Each of the
parties irrevocably agrees that the courts of England are to have exclusive
jurisdiction to settle any dispute which may arise out of or in connection with
this

 

39

 

Agreement and the
documents to be entered into pursuant to it and that accordingly any proceedings
arising out of or in connection with this Agreement and the documents to be
entered into pursuant to it shall be brought in such courts. Each of the
parties irrevocably submits to the jurisdiction of such courts and waives any
objection to proceedings in any such court on the ground of venue or on the
ground that proceedings have been brought in an inconvenient forum.

 

12.15                             Appointment of Process Agent

 

12.15.1                   The Sellers
hereby irrevocably appoint Hogan & Hartson Corporate Services Limited
as their agent to accept service of process in England in any legal action or
proceedings arising out of this Agreement, service upon whom shall be deemed
completed whether or not forwarded to or received by the Sellers.

 

12.15.2                   The Sellers
agree to inform the Purchasers in writing of any change of address of such
process agent within 28 days of such change.

 

12.15.3                   If such
process agent ceases to be able to act as such or to have an address in
England, the Sellers irrevocably agree to appoint a new process agent in
England acceptable to the Purchasers and to deliver to the Purchasers within 14
days a copy of a written acceptance of appointment by the process agent.

 

12.15.4                   Nothing in
this Agreement shall affect the right to serve process in any other manner
permitted by law or the right to bring proceedings in any other jurisdiction
for the purposes of the enforcement or execution of any judgment or other
settlement in any other courts.

 

40

 

In witness whereof this
Agreement has been duly executed as a Deed.

 

	
  SIGNED as a Deed by and

  on behalf of

  VIA NET.WORKS, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of

  VIA NET.WORKS Holdco, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of

  VIA NET.WORKS NY Corp, Inc.:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED as a DEED by

  and on behalf of

  Claranet Group Limited:

  	
  }

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED as a DEED by

  and on behalf of

  Clara.net Holdings Limited:

  	
  }

  	
  

  

 

41

 

In
witness whereof this Agreement has been duly executed as a Deed.

 

	
  SIGNED as a Deed by and

  on behalf of

  VIA NET. WORKS, Inc.:

  	
  }

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of

  VIA NET.WORKS Holdco, Inc.:

  	
  }

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of

  VIA NET.WORKS NY Corp, Inc.:

  	
  }

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED as a DEED by

  Charles Nasser

  and on behalf of

  Claranet Group Limited:

  	
  }

  	
  

  
	
   

  	
   

  	
   

  
	
  SIGNED as a DEED by

  and on behalf of

  Clara.net Holdings Limited:

  	
  }

  	
   

  

 

42

 

Schedule 1

 

Part 1

 

Details
of the Shares etc.

(Clause 1.1)

 

First
Closing

 

	
  (1)

  	
   

  	
  (2)

  	
   

  	
  (3)

  	
   

  	
  (4)

  	
   

  
	
  Name of Share Seller

  	
   

  	
  Name of Company

  	
   

  	
  Shares

  	
   

  	
  Name of Share Purchaser

  	
   

  
	
  VIA NET.WORKS, Inc.

  	
   

  	
  VIA NET.WORKS
  USA, Inc.

  	
   

  	
  1,000 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  Agence des
  Medias Numeriques S.A.S

  	
   

  	
  500 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  Amen Ltd

  	
   

  	
  2 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  Agencia de media
  numerica España S.L.

  	
   

  	
  310 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Europe Holding B.V.

  	
   

  	
  AMEN NEDERLAND
  B.V.

  	
   

  	
  18,000 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Europe Holding B.V.

  	
   

  	
  VIA NET.WORKS
  Nederland B.V.

  	
   

  	
  10,000 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Europe Holding B.V.

  	
   

  	
  Via Net. Works
  Portugal—Tecnologias de informação, S.A.

  	
   

  	
  117,000 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  AMENWORLD Servicos Internet Sociedade
  Unipessoal LDA

  	
   

  	
  VIA NET.WORKS
  Europe Holding B.V.

  	
   

  	
  EUR 10,000

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS, Inc

  	
   

  	
  VIA Jersey
  Debtco Limited

  	
   

  	
  1 share

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  

 

43

 

Second
Closing

 

	
  (1)

  Name

  of Share Seller

  	
   

  	
  (2)

  Name of

  Company

  	
   

  	
  (3)

  Shares

  	
   

  	
  (4)

  Name of Share

  Purchaser

  	
   

  
	
  VIA NET.WORKS, Inc.

  	
   

  	
  VIA NET.WORKS
  Europe Holding B.V.

  	
   

  	
  200 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  VIA NET.WORKS
  Europe Holding B.V.

  	
   

  	
  21 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  PSINet
  Netherlands B.V.

  	
   

  	
  40 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  PSINet Belgium
  BVBA/SPRL

  	
   

  	
  750 shares

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  PSINet Germany
  GmbH

  	
   

  	
  1 share

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  
	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  PSINet
  Datacenter Germany GmbH

  	
   

  	
  1 share

  	
   

  	
  Clara.net Holdings
  Limited

  	
   

  
	
  VIA NET.WORKS, Inc

  	
   

  	
  (To be
  incorporated as) VIA Jersey Debtco 2 Limited

  	
   

  	
  To be 1 share

  	
   

  	
  Clara.net
  Holdings Limited

  	
   

  

 

44

 

Schedule 2

 

Companies
and Subsidiaries

 

Part A—First
Closing

 

	
  1

  	
   

  	
  Particulars of the Companies

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS USA, Inc.

  
	
   

  	
   

  	
  Federal Identification Number:

  	
   

  	
  58-205 1588

  
	
   

  	
   

  	
  Place of Business:

  	
   

  	
  15 Piedmont CTR NE # 710, Atlanta, GA 30305

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  26 May 1993 (dissolved 23 July 1995 and
  reinstated 27 November 1995 effective from the date of the
  administrative dissolution); Georgia

  
	
   

  	
   

  	
  Issued capital stock:

  	
   

  	
  1,000 class A shares with a par value of US$1.00 per
  share

  
	
   

  	
   

  	
  Authorised capital stock:

  	
   

  	
  1,000 class A shares with a par value of US$1.00 per
  share

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS, Inc.: 1,000 class A shares held

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Raymond Walsh, Matt Nydell and Patrick Gaul

  
	
   

  	
   

  	
  Secretary:

  	
   

  	
  Matt Nydell

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  Name of Company:

  	
   

  	
  Agence des Medias Numeriques S.A.S.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  421 527 797 RCS Paris

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  12/14 Rond Point des Champs-Elysées, 75008 Paris
  France

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  13 January 1998; France

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 37,000 divided into 500 shares with a nominal
  value of EUR 74 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 37,000 divided into 500 shares with a nominal
  value of EUR 74 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc.: 500 shares

  
	
   

  	
   

  	
  Chairman (President):

  	
   

  	
  Dick Theunissen

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.3

  	
   

  	
  Name of Company:

  	
   

  	
  AMEN Ltd

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  4414694

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  1 Canada Square, 29th Floor, Canary
  Wharf, London E14 5DY

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  11 April 2002; United Kingdom

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  £2 divided into 2 shares of £1 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  1000 shares

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET WORKS Holdco, Inc.: 2 shares

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Matt Stuart Nydell, Raymond Walsh

  

 

45

 

	
  1.4

  	
   

  	
  Name of Company:

  	
   

  	
  AGENCIA DE MEDIA NUMERICA ESPAÑA S.L.

  
	
   

  	
   

  	
  Company Registration Details:

  	
   

  	
  Mercantile Register of Madrid, at Volume 16871, Book
  0, Sheet 73, Section 8, Page M-288441, Registratin 1st

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Paseo de la Castellana, 164, Ent. 2a,
  28046 Madrid, Spain

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  August 31, 2001; Bilbao (Spain)

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 3,100 divided into 310 shares of EUR 10 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 3,100 divided into 310 shares of EUR 10 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc.: 310 shares

  
	
   

  	
   

  	
  Managing Director:

  	
   

  	
  Sandrine Girard (resigned on April 19, 2005)

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Mr. Dick Theunissen and Mr. Antonio Miguel
  Caetano Ferreira

  
	
   

  	
   

  	
  Secretary:

  	
   

  	
  Mr. Clifford J. Hendel (Secretary); Mr. Francisco
  Solchaga Lopez de Silanes (Vice-Secretary)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.5

  	
   

  	
  Name of Company:

  	
   

  	
  AMEN NEDERLAND B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  34212499

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  H Walaardt Sacrestraat 401, 1117 BM Schiphol,
  The Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  30 November 2004; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,000 divided into 18,000 shares with a par value of EUR 1.00 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 90,000 divided into 90,000 shares with a par
  value of EUR 1 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holdings B.V.: 18,000 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.6

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Nederland B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  17089780

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park Eindhoven 5630, 5692 EN Son,
  The Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  21 November 1995; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 45,000 divided into 10,000 ordinary shares of
  EUR 4.50 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 225,000 divided into 50,000 ordinary shares of
  EUR 4.50 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.: 10,000 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
  Proxy Holder:

  	
   

  	
  Alexander Johan Marie Scholten

  

 

46

 

	
  1.7

  	
   

  	
  Name of Company:

  	
   

  	
  Via Net. Works Portugal—Tecnologias de Informação,
  S.A.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  CRC Lisbon 6.983/NIPC: 503 412 031

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Praça Duque de Saldanha, 1, Edificio Atrium
  Saldanha, 4H, Lisbon

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  February 1995; Portugal

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 585,000.00 divided into 117,000 shares of
  EUR 5 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 585,000.00 divided into 117,000 shares of
  EUR 5 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.; 117,000 shares

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  António Miguel Ferreira

  Dick Theunissen

  Brian Berkopec

  
	
   

  	
   

  	
  Secretary:

  	
   

  	
  Pedro José Sardinha Oliveira Cardo

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.8

  	
   

  	
  Name of Company:

  	
   

  	
  AMENWORLD Servicos Internet Sociedade
  Unipessoal LDA

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  13019/301204

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Praça do Saldanha, n° 1, 4°H, Lisboa

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  30 December 2004

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 10,000.00

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  Unlimited

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.: 100% shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  António Miguel Caetano Ferreira

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.9

  	
   

  	
  Name of Company:

  	
   

  	
  VIA Jersey Debtco Limited

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  90631

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  c/o Professional Trust Company Limited, PO Box 274,

  36 Hilgrove Street, St Helier, Jersey JE4 8TR

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  Jersey, 11 July 2005

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  £1.00

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  £10,000

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS, Inc.

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Denis Therezien, Peter Nicolle and Michael Cordwell

  
	
   

  	
   

  	
  Secretary:

  	
   

  	
  Professional Trust Company Limited

  

 

	
  2

  	
   

  	
  Particulars of the Subsidiaries

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  Name of Company:

  	
   

  	
  AMEN ITALIA S.R.L.

  
	
   

  	
   

  	
  Company Registration Details:

  	
   

  	
  03962200964

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Torre A—Via Senigallia 18/2—20161 Milano

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  14 May 2003, registered in the Companies
  Registry on

  29 May 2003; Italy

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 10

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 10

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  Agences des Médias Numériques SAS; one quota representing
  all of the share capital

  
	
   

  	
   

  	
  Chairman of Board of Directors:

  	
   

  	
  Maurizio di Salvo

  
	
   

  	
   

  	
  Director:

  	
   

  	
  Dick Theunissen

  

 

47

 

Part B—Second
Closing

 

	
  1

  	
   

  	
  Particulars of Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  34115551

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  H Walaardt Sacrestraat 401, 1117 BM Schiphol-Oost,
  The Netherlands.

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  5 May 1999; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 22,100 divided into 221 shares with a par value
  of EUR100 each.

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 100,000 divided into 1,000 shares with a par
  value of EUR 100 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc.: 21 shares with a
  par value of EUR 100 per share VIA NET.WORKS Inc.: 200 shares with a par
  value of EUR 100 per share.

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS, Inc.

  
	
   

  	
   

  	
  Proxy Holders:

  	
   

  	
  Mike McTighe, John Steele, Jan Gesmar-Larsen,
  Malcolm Bell, Karen Slatford

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet Netherlands B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  33294922

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Paul van Vlissingenstraat 16, 1096 BK Amsterdam, The
  Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  13 August 1997; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  NLG 40,000 divided into 40 ordinary shares of NLG
  1,000 each

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  NLG 200,000 divided into 200 ordinary shares of NLG
  1,000 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc: 40 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
  Proxy Holder:

  	
   

  	
  Alexander Johan Marie Scholten

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.3

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet Belgium BVBA/SPRL

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  0460.461.275

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Medialaan 32, bus 3, 1800 Vilvoorde, Belgium

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  27 March 1997; Belgium

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,550 dividend into 750 shares without nominal
  value

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 18,550 dividend into 750 shares without nominal
  value

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc: 750 shares held

  
	
   

  	
   

  	
  Director:

  	
   

  	
  James Joseph Henry Demaeght

  

 

48

 

	
  1.4

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet Germany GmbH

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  Local Court of Munich, HRB 117930

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Munich

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  10 April 1997; Germany

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  One share in the nominal amount of DM 50,000

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc: one share held

  
	
   

  	
   

  	
  Director:

  	
   

  	
  Fred Seibl

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.5

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet Datacenter Germany GmbH

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  Local Court of Berlin-Charlottenburg, HRB 76192

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Berlin

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  10 December 1999; Germany

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  One share in the nominal amount of EUR 25,000

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Holdco, Inc.: one share held

  
	
   

  	
   

  	
  Director

  	
   

  	
  Fred Seibl

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.6

  	
   

  	
  Name of Company:

  	
   

  	
  VIA Jersey Debtco 2 Limited

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  All corporate details to be similar to VIA Jersey
  Debtco Limited

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
   

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
   

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
   

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
   

  
	
   

  	
   

  	
  Director

  	
   

  	
   

  

 

	
  2

  	
   

  	
  Particulars of Subsidiaries

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  Name of Company:

  	
   

  	
  bART HOLDING B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  24270496

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park Eindhoven 5630 5692 EN Son; The
  Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  27 August 1996; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 340,355.16

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 453,780.22

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.: 340,355.16 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.2

  	
   

  	
  Name of Company;

  	
   

  	
  Xenovic Holding B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  24271927

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park Eindhoven 5630, 5692 En Son, The
  Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  15 March 1996; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,241.96

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 90,756.04

  
	
   

  	
   

  	
  Shareholders and shares held:

  	
   

  	
  Bart Holding B.V.: 100% shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  bART Holding B.V.

  

 

49

 

	
  2.3

  	
   

  	
  Name of Company:

  	
   

  	
  bART Noord Nederland B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  020564446

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park 5630, 5692 En Son, The Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  21 December 1996; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,151.21

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 90,756.04

  
	
   

  	
   

  	
  Shareholders and shares held:

  	
   

  	
  bART Holding B.V.: 100% shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  bART Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.4

  	
   

  	
  Name of Company:

  	
   

  	
  bART Midden Nederland B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  24274849 (B-ART Midden Nederland)

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park 5630, 5692 En Son, The Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  14 May 1996; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,151. 21

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 90,756.04

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  bART Holding B.V.: 100% shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  bART Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.5

  	
   

  	
  Name of Company:

  	
   

  	
  Arameta B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  24272259

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Science Park Eindhoven 5630, 5692 En Son, The
  Netherlands

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  28 January 1997; The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,151.21

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  EUR 90,756,04

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  bART Holding B.V.: sole shareholder

  
	
   

  	
   

  	
  Director:

  	
   

  	
  bART Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.6

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS España S.L.

  
	
   

  	
   

  	
  Registration Details:

  	
   

  	
  Volume 3, 082, Page 186, Section 8, Sheet
  SE 40,794; entry number 1

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  13 August 1999; Spain

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 672,150 divided into 67,215 shares of EUR
  10 each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.: 67,215 shares

  
	
   

  	
   

  	
  Directors (Joint and Several):

  	
   

  	
  Mr. Nathan Wajsman Mr. Louis Bonnet,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.7

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS IRU Co. Ltd

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  306317

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Arthur Cox Building, Earlsfort Terrace, Dublin 2

  
	
   

  	
   

  	
  Date and place of incorporation:

  	
   

  	
  6 May 1999; Republic of Ireland

  
	
   

  	
   

  	
  Issued share capital;

  	
   

  	
  IR£1.25 divided into 1 share of IR£1.25

  
	
   

  	
   

  	
  Authorised share capital:

  	
   

  	
  IR£125,000 euro divided into 100,000 Ordinary

  
	
   

  	
   

  	
   

  	
   

  	
  shares of IR£1.25 euro each

  
	
   

  	
   

  	
  Shareholder and shares held:

  	
   

  	
  VIA NET.WORKS Europe Holding B.V.; 1 share

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Alexander French Matt Stuart Nydell

  

 

50

 

	
  2.8

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS, UK
  Holding Ltd

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  03690730

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  c/o Hogan &
  Hartson One Angel Court, London EC2R 7HJ

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  31 December 1998;
  England and Wales

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  £10 divided into 10
  ordinary shares of £1.00 each

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  £1,000.00 divided into
  1,000 shares of £1.00 each

  
	
   

  	
   

  	
  Shareholder and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; 10 shares

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Matt Stuart Nydell

  VIA NET.WORKS Europe Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.9

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS, France
  Holding SAS

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  433 596 228 RCS Paris

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  127, rue Amelot, 75011
  Paris, France

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  27 November 2000;
  Paris

  
	
   

  	
   

  	
  Share capital:

  	
   

  	
  17,326,400 euros
  divided into 1,732,640 shares of EUR10 each

  
	
   

  	
   

  	
  Members:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.;

  1,555,800 shares

  VIA NET.WORKS UK Holdings Limited:

  176,840 shares

  
	
   

  	
   

  	
  Chairman (President):

  	
   

  	
  Nathan Wajsman

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.10

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Jersey
  Ltd

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  88289

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  c/o Jordans (C.I.)
  Limited, PO Box 456,

  Postman House, Hue Street, St Helier, Jersey JE4 5RP

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  9 August 2004;
  Jersey

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  £1000 divided into 100
  shares of £1 each

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  £10,000 divided into
  10,000 shares of £1 each

  
	
   

  	
   

  	
  Shareholders and shares
  held:

  	
   

  	
  VIA NET.WORKS UK
  Holding Limited; 1000 shares held

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Matt Stuart Nydell

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.11

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS
  Deutschland GmbH

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  Local Court of
  Duisburg, HRB 7472

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Duisburg

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  2 April 1993;
  Germany

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  DEM 18,822,000,00:
  divided into one share of DEM 18,822,000.00

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  DEM 18,822,000.00:
  divided into one share of DEM 18,822,000,00

  
	
   

  	
   

  	
  Shareholder and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; one share

  
	
   

  	
   

  	
  Director:

  	
   

  	
  Fred Seibl

  

 

51

 

	
  2.12

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Holdco
  Italy S.r.L.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  13200500158

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Via Turati Filippo 40
  Milan

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  28 July 2000

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 500,000

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  EUR 500,000

  
	
   

  	
   

  	
  Shareholders and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; 1 quota valued at EUR 495,000 VIA NET.WORKS UK Limited: 1 quota
  valued at EUR 5,000

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Matt Stuart Nydell

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.13

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet France Sarl

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  394 332 118 RCS
  Nanterre

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Tour Atlantique—13éme
  étage, Place de la Pyramide—92911 Paris La Défense Cedex

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  17 March 1994;
  Paris

  
	
   

  	
   

  	
  Share capital:

  	
   

  	
  373,552.84 euros
  divided into 144,138 shares

  
	
   

  	
   

  	
  Member and shares held:

  	
   

  	
  VIA NET.WORKS, France
  Holdings SAS; 144,138 shares held

  
	
   

  	
   

  	
  Manager (Gérant):

  	
   

  	
  Marc le Leau

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.14

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS France
  S.A.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  408 236 990 RCS Nanterre

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Tour Atlantique—13éme
  étage, Place de la Pyramide—92911 Paris La Defense Cedex

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  17 July 1996;
  Pontoise

  
	
   

  	
   

  	
  Share capital:

  	
   

  	
  485,412.92 euros
  divided into 31,841 shares

  
	
   

  	
   

  	
  Shareholders and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; 2 shares Matt Nydell: 1 share Paulo Baptista: 1 share VIA
  NET.WORKS, France Holding SAS; 31,837 shares

  
	
   

  	
   

  	
  Chairman of the Board:

  	
   

  	
  Paulo Baptista Gomes
  Carneiro

  
	
   

  	
   

  	
  Directors:

  	
   

  	
  Nathan Wajsman Matt
  Nydell

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.15

  	
   

  	
  Name of Company:

  	
   

  	
  PSINet Switzerland Sarl

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  CH-660-2323998-1

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Chemin de l’Epinglier
  2, CH-1217 Meyrin GE.

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  18 December 1998;
  Switzerland

  
	
   

  	
   

  	
  Issued quota capital:

  	
   

  	
  CHF 200,000 (no
  division)

  
	
   

  	
   

  	
  Shareholder and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; All quota

  
	
   

  	
   

  	
  Managers:

  	
   

  	
  Gérard Cauderay James
  John McCartan

  

 

52

 

	
  2.16

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Deutsche
  Holding GmbH

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  Local Court of
  Duisburg, HRB 9349

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Duisburg

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  29 September 2000;
  Germany

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 25,000; one share

  
	
   

  	
   

  	
  Shareholder and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; one share

  
	
   

  	
   

  	
  Director:

  	
   

  	
  Fred Seibl

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.17

  	
   

  	
  Name of Company:

  	
   

  	
  VIA NET.WORKS Express
  B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  34208904

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  H. Walaardt Sacrestraat
  401, 1117 BM Schiphol, The Netherlands

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  30 November 2004;
  The Netherlands

  
	
   

  	
   

  	
  Issued share capital:

  	
   

  	
  EUR 18,000 divided into
  18,000 ordinary shares of EUR 1 each

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  EUR 90,000

  
	
   

  	
   

  	
  Shareholder and shares
  held:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.; 18,000 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.18

  	
   

  	
  Name of Company:

  	
   

  	
  Unix Support Nederland
  B.V.

  
	
   

  	
   

  	
  Registered Number:

  	
   

  	
  27152479

  
	
   

  	
   

  	
  Registered Office:

  	
   

  	
  Paul van
  Vlissingenstraat 16, 1096 BK Amsterdam, The Netherlands

  
	
   

  	
   

  	
  Date and place of
  incorporation:

  	
   

  	
  12 February 1996;
  The Netherlands

  
	
   

  	
   

  	
  issued share capital:

  	
   

  	
  NLG 40,000 divided into
  40 ordinary shares of NLG 1,000 each

  
	
   

  	
   

  	
  Authorised share
  capital:

  	
   

  	
  NLG 200,000 divided
  into 200 ordinary shares of NLG 1,000 each

  
	
   

  	
   

  	
  Shareholders and shares
  held:

  	
   

  	
  PSINet Netherlands
  B.V.; 40 shares

  
	
   

  	
   

  	
  Director:

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.

  
	
   

  	
   

  	
  Proxy Holder:

  	
   

  	
  Alexander Johan Marie
  Scholten

  

 

53

 

Schedule 3

Contracts

(Clause 2.3.1(iv))

 

1                                                     Obligation to obtain Third Party Consents

 

In
relation to any Contract which is not assignable without a Third Party Consent,
this Agreement shall not be construed as an assignment or an attempted
assignment and the Relevant Sellers and the Relevant Purchasers shall each use
reasonable endeavours both before and after the relevant Closing to obtain all
necessary Third Party Consents on terms reasonably acceptable to the Relevant
Purchasers and the Relevant Sellers as soon as possible and shall keep each
other informed of progress in obtaining such Third Party Consents. The Relevant
Sellers shall deliver to the Relevant Purchasers, on the relevant Closing or,
if later, as soon as possible after receipt, any Third Party Consent and an
assignment duly executed by the appropriate parties.

 

2                                                     Obligations until Third Party Consents are obtained/where Third Party
Consents are refused

 

2.1                                           Subject to
paragraph 2.2, the Relevant Purchasers shall,
from the relevant Closing, assume, carry out, perform and discharge the
Relevant Seller’s obligations under the Contracts and shall indemnify and keep
indemnified the Relevant Seller against any Liability incurred by that Seller
or any member of the VIA Group arising from the failure by the Relevant
Purchaser to assume, carry out, perform or discharge such obligations and
against any Losses which that Seller may suffer by reason of that Seller taking
any reasonable action to avoid, resist or defend any Liability referred to in
this paragraph and provided that the Relevant Purchaser shall only be liable to
the extent such Liability incurred by that Seller is a Liability which is
intended to be assumed by the Relevant Purchaser pursuant to Clause 2.3.2.

 

2.2                                           In respect
of any Contract, from the relevant Closing until the relevant Third Party
Consent has been obtained, as contemplated by paragraph 1.1, or where the Third
Party Consent has been refused and until the earlier to occur of (i) the
date on which trading of VIA Inc’s common stock on NASDAQ and Euronext ceases
and (ii) VIA Inc having completed a distribution to the VIA Shareholders:

 

2.2.1                                 the Relevant
Seller shall hold on trust such Contract and any monies, goods or other
benefits received under such Contract to the extent it is lawfully able to do
so or, where it is not lawfully able to do so or where holding on trust is not
possible under local law, that Seller and the Relevant Purchaser shall make
such other arrangements between themselves to provide to the Relevant Purchaser
the benefits of the Contract, including the enforcement at the cost and for the
account of the Relevant Purchaser of all rights of the relevant Seller against
any other party thereto;

 

2.2.2                                 to the
extent that the Relevant Purchasers are lawfully able to do so, and subject to
the Relevant Purchasers receiving the benefits of the Contract, the Relevant
Purchasers shall at their own expense perform the Relevant Seller’s obligations
under the Contract as agent or sub-contractor and shall indemnify the Relevant
Seller in respect thereof. To the extent that the Relevant Purchasers are not
lawfully able to do so, the Relevant Seller shall, at the Relevant Purchasers’
cost do all such things as the Relevant
Purchasers may reasonably require to enable due performance of the Contract;

 

54

 

provided
that, in each case, the Relevant Purchasers shall indemnify and keep
indemnified the Relevant Seller or member of the VIA Group against any
liability incurred by the Relevant Seller or any member of the VIA Group as a
result of this paragraph 2.2.

 

3                                                     Failure to Obtain Third Party Consents

 

If
a Third Party Consent is refused or otherwise not obtained on terms reasonably
acceptable to the Relevant Purchasers within three (3) months of Second
Closing (or, if Second Closing does not occur, First Closing), references in
this Agreement to the Contracts and the VIA Operations (other than in this
paragraph 3) shall be construed as excluding such Contract.

 

4                                                     Novation

 

To
the extent that the Sellers request the novation of any Contract to a Group
Company or a member of the Purchaser’s Group, the parties shall use their
reasonable endeavours to novate such Contract pursuant to Clause 2.3 and
pending such novation, the provisions of this Schedule 3 shall apply.

 

55

 

Schedule 4

Employees

(Clause 2.4)

 

1                                                     Transfer of Employees

 

1.1                                           The Sellers
shall and shall procure that the VIA Group shall:

 

1.1.1                                 transfer the
employment of each Relevant Employee to a Group Company prior to the First
Closing Date; and

 

1.1.2                                 not offer
employment to, employ or otherwise engage any Relevant Employee whose
employment is transferred pursuant to paragraph 1.1.1 above prior to the Second
Closing Date.

 

1.2                                           if any
employee other than a Relevant Employee is transferred to a Group
Company or a Relevant Purchaser pursuant to paragraph 1.1 of this Schedule 4:

 

1.2.1                                 the Relevant
Purchaser shall upon becoming aware of the transfer of such employee at any
time after the relevant Closing Date immediately or as soon as possible under
applicable law terminate such employee’s employment on terms agreed with the
Seller (acting reasonably); and

 

1.2.2                                 the Sellers
shall indemnify the Relevant Purchasers and keep the Relevant Purchasers
indemnified against all Liabilities relating to or arising out of such termination
and reimburse the Relevant Purchasers for all costs, expenses and emoluments
(including, without limitation, any taxation and employer’s national insurance
contributions) reasonably and properly incurred in employing such employee in
respect of his employment on or after the relevant Closing Date until such
employee is terminated pursuant to paragraph 1.2.1 above.

 

1.3                                           The Relevant
Purchasers shall be responsible for all wages, salaries, emoluments and other
amounts due or accruing and taxation and employer’s national insurance
contributions payable in respect of the Relevant Employees with effect from the
relevant Closing Date.

 

1.4                                           The Sellers
shall be responsible for all wages, salaries, emoluments and other amounts due
and accruing and taxation and employer’s National Insurance contributions
payable in respect of the Employees prior to the relevant Closing Date.

 

1.5                                           The Sellers
using their reasonable endeavours (without cost to the Sellers) undertake that
they shall not and shall procure that no other member of the VIA Group and each
Group Company shall do or knowingly omit to do anything prior to the relevant
Closing Date unless agreed by the Relevant Purchasers which would cause any
Relevant Employee to terminate their employment with either of the Sellers or
any other company in the VIA Group or any Group Company before the relevant
Closing Date or with the Relevant Purchasers on or after the relevant Closing
Date.

 

2                                                     Application of Transfer Provisions

 

2.1                                           If any
contract of employment, employment relationship or collective agreement in
relation to any employee (other than a Relevant Employee) employed by either of
the Sellers, the other members of the VIA Group or any Group Company shall have
effect as if originally made between the Relevant Purchasers and such employee
(a “Transferred Employee”) as
a result of

 

56

 

the Transfer Provisions
(without prejudice to any other rights or remedies which may be available to
the Relevant Purchasers):

 

2.1.1                                 the Relevant
Purchaser shall, upon becoming aware of the application of the Transfer
Provisions to any such contract of employment or collective agreement, notify
the Seller forthwith and the Seller or any other member of the VIA Group shall
procure that such employees enter into settlement agreements with the Relevant
Sellers and the Relevant Purchaser on termination of the Transferred Employee’s
employment (on terms that the Sellers are liable for all payments due to such
Transferred Employees). The Relevant Purchaser shall co-operate with the
Sellers and take all reasonable steps to assist the Sellers in procuring that
such Transferred Employees enter into termination agreements as soon as
reasonably practicable following the relevant Closing; and

 

2.1.2                                 the Sellers
shall indemnify the Relevant Purchasers and keep the Relevant Purchasers
indemnified against all Liabilities relating to or arising out of such
termination or the transfer of Transferred Employees (including any Liability
arising out of a failure by the Sellers but excluding any Liability arising out
of a failure by the Purchasers to comply with their obligations under the
Transfer Provisions) and shall reimburse the Relevant Purchasers for all costs,
emoluments and expenses (including, without limitation, any taxation and
employer’s national insurance contributions) reasonably and properly incurred
in employing such Transferred Employee in respect of his employment on or after
the relevant Closing Date; and

 

2.1.3                                 irrespective
of whether the Transferred Employee’s employment is terminated in accordance
with paragraph 2.1.1 above, the Sellers will indemnify the Relevant Purchasers
and keep the Relevant Purchasers indemnified against any Liabilities which
relate to, arise out of or are connected with any claims brought against the
Relevant Purchaser by any Transferred Employee other than in each case as a
result of breach by the Relevant Purchaser of its obligations under paragraph
2.1.1 above which are due solely to any act or omission by either of the
Sellers, any other member of the VIA Group or any Group Company or any event,
matter or any other occurrence having its origin prior to the relevant Closing
Date and which the Relevant Purchasers incurs in relation to any contract of
employment, or the employment relationship or collective agreement of one or
more of the Transferred Employees pursuant to the Transfer Provisions and/or in
respect of this Agreement.

 

2.2                                           The Sellers
shall indemnify the Relevant Purchasers and keep the Relevant Purchasers
indemnified against all Liabilities which relate to or arise out of any
dismissal by the Sellers, the VIA Group or any Group Company of any employee
(not being a Relevant Employee) and which the Relevant Purchasers may incur
pursuant to the provisions of the Transfer Provisions and this Agreement.

 

3                                                     Definitions

 

3.1                                           For the
purposes of this provision the terms:

 

“contract of employment” and “collective agreement” shall have the same
meanings respectively as in the Transfer Provisions;

 

“Transfer Provisions” means the
Transfer Regulations and Council Directive 2001/23/EC; and

 

“Transfer Regulations” means the
Transfer of Undertakings (Protection of Employment) Regulations 1981 (as
amended or replaced).

 

57

 

Schedule 5

 

VAT

 

1                                                     The Sellers
and the Purchasers shall use all reasonable endeavours (including, where
appropriate, the making of an election or application in respect of VAT to any
Taxation Authority or entering into a written agreement) to secure that the
sale of the Group so far as carried on in the European Union is treated as
neither a supply of goods nor a supply of services for the purposes of the laws
governing VAT in the relevant member state.

 

2                                                     To the
extent that any state outside the European Union provides for relief or
exemption from VAT (or any similar tax on turnover or added value) on the
transfer of a business or a company or treats such a transaction as being
non-taxable for VAT purposes, the Sellers and the Purchasers shall use all
reasonable endeavours (including, where appropriate, the making of an election
or application in respect of VAT (or any similar tax on turnover or added
value) to any Taxation Authority or entering into a written agreement) to
secure such treatment as regards the sale of the Group (insofar as the business
of the Group is carried on in the relevant state) under this Agreement.

 

58

 

Schedule 6

 

Closing
Obligations

 

1.                                                  General Obligations

 

1.1                                           The Sellers’ Obligations

 

On
First Closing, the Sellers shall deliver or make available to the Purchasers
the following:

 

1.1.1                                 evidence of
the due fulfillment of the conditions set out in Clause 4;

 

1.1.2                                 evidence
that the Sellers are authorised to execute this Agreement, the SPA Amendment
and Restatement Agreement and the Local Transfer Documents relevant to the
First Closing (including, where relevant, any notarial deeds referred to in
this Schedule);

 

1.1.3                                 evidence
that all Employee bonuses due in respect of 2004, including all Taxation in
relation thereto, have been paid by the Sellers or the Group Companies; and

 

1.1.4                                 a copy of
the Transitional Services Agreement executed by VIA Inc, VIA Nederland, VIA
NET.WORKS Portugal—Tecnologias de Informacao, S.A. and VIA NET.WORKS USA, Inc.

 

On
Second Closing, the Sellers shall deliver or make available to the Purchasers
the following:

 

1.1.1                                 evidence of
the due fulfilment of the conditions set out in Clause 4; and

 

1.1.2                                 evidence
that the Sellers are authorised to execute this Agreement, the SPA Amendment
and Restatement Agreement and the Local Transfer Documents relevant to the
Second Closing (including, where relevant, any notarial deeds referred to in
this Schedule).

 

1.2                                           The Purchaser’s Obligations

 

On
First Closing, the Purchasers shall deliver or make available to the Sellers:

 

1.2.1                                 evidence
that the Purchasers are authorised to execute this Agreement, the SPA Amendment
and Restatement Agreement and the Local Transfer Documents (including, where
relevant, any notarial deeds referred to in this Schedule) relevant to First
Closing;

 

1.2.2                                 immediately
following the execution of the Local Transfer Documents, the Relevant Purchaser
shall resolve to appoint or procure the appointment of those individuals
identified by the Purchaser as Directors of the A Group Companies with such
appointments to be effective as of First Closing; and

 

1.2.3                                 a copy of
the Transitional Services Agreement executed by the Purchasers; and

 

1.2.4                                 a written
statement setting forth in detail the “German Tax Issue” and the actions
suggested to be taken by the Sellers in connection therewith.

 

On
Second Closing, the Purchasers shall deliver or make available to the Sellers:

 

1.2.5                                 evidence
that the Purchasers are authorised to execute this Agreement, the SPA Amendment
and Restatement Agreement and the Local Transfer Documents (including, where
relevant, any notarial deeds referred to in this Schedule) relevant to Second
Closing; and

 

59

 

1.2.6                                 immediately
following the execution of the Local Transfer Documents, the Relevant Purchaser
shall resolve to appoint or procure the appointment of those individuals
identified by the Purchaser as Directors of the B Group Companies with such
appointments to be effective as of Second Closing.

 

2                                                     Transfer of the Shares and VIA Operations

 

2.1                                           General Transfer Obligations

 

On
each Closing, the Relevant Sellers and the Relevant Purchasers shall execute
and/or deliver and/or make available Local Transfer Documents and take such
steps as are required to transfer the Shares and the Business Assets which are
the subject of the relevant Closing.

 

2.2                                           Specific Transfer Obligations

 

For
the purposes of compliance with paragraph 2.1, the Relevant Sellers and
Relevant Purchaser shall do the following, in relation to any Companies and VIA
Operations that are incorporated or located in the jurisdictions listed below:

 

2.2.1                                 Belgium

 

(i)                                                 Holdco shall
record the transfer of the Shares owned by it to the Relevant Purchaser in the
share register of the PSINet Belgium B.V.BA/SPRL (“PSINet Belgium”), and shall sign the share register
to that effect.

 

(ii)               The Relevant
Purchaser shall sign the share register of the PSINet Belgium to accept the
transfer of the Shares from the Holdco.

 

(iii)              Holdco and
the Relevant Purchaser shall procure that the transfer of the Business Assets
located in Belgium shall be effected by means of a notarial deed on terms
reasonably satisfactory to the parties to be executed by a notary public.

 

2.2.2                                 France

 

(i)                                                 In relation
to any Shares having the form of actions in
any Company incorporated in France, Holdco shall deliver to the Relevant
Purchaser duly completed, executed and dated share transfer forms (ordres
de mouvements) in
favour of the Relevant Purchaser and Holdco and the Relevant Purchaser shall
execute the registration forms (formulaires de cession de droits sociaux).

 

(ii)               Holdco shall
deliver to the Relevant Purchaser any Third Party Consents as Holdco may have
obtained;

 

(iii)              Holdco, any
relevant third party and the Relevant Purchaser shall execute (or shall have
executed, with effect on Closing) assignment or novation agreements on terms
reasonably satisfactory to the parties.

 

2.2.3                                 Germany

 

(i)                                                 In the case
of each of PSINet Germany GmbH and PSINet Datacenter Germany GmbH (the “GmbH Companies”) Holdco and the
Relevant Purchaser shall enter into a transfer agreement in notarial form on terms
reasonably satisfactory to the parties by means of which Holdco transfers

 

60

 

title
to the Shares in the GmbH Companies to the Relevant Purchaser, and the Relevant
Purchaser accepts such transfer.

 

(ii)               Holdco and
the Relevant Purchaser shall immediately after Closing inform the management of
the relevant GmbH Company with respect to the transfer of the Shares in such
GmbH Company.

 

(iii)                                           VIA
NET.WORKS Deutschland GmbH and VIA NET.WORKS Deutsche Holding GmbH (the “VIA GmbH Companies”) as transferors and
the Relevant Purchaser as transferee shall enter into a transfer agreement on
terms reasonably satisfactory to the parties by means of which (a) each of
the VIA GmbH Companies transfers title to, and (to the extent applicable)
possession of, all Business Assets belonging to such VIA GmbH Company, to the
Relevant Purchaser, and the Relevant Purchaser accepts such transfers, (b) the
Relevant Purchaser assumes all liabilities incurred by any of the VIA GmbH Companies
as described in Clauses 2.3.2 and 2.3.3 of the Sale and Purchase Agreement and
as existing at Closing or arising, accruing or assessed after Closing in
consequence of any transaction carried out in the ordinary and usual course of
carrying on the Businesses prior to Closing] and undertakes to hold the VIA
GmbH Companies harmless against any such liabilities and the VIA GmbH Companies
accepts such assumption and undertaking, and (c) each of the VIA GmbH
Companies assigns to the Relevant Purchaser all Contracts to which it is a
party and as existing in the Business at Closing, and the Relevant Purchaser
accepts such transfer and undertakes to hold Holdco harmless against any
liabilities or obligations under those Contracts.

 

(iv)                                          In case the
transfer of the Business Assets, liabilities and Contracts requires further
acts, notifications or filings, Holdco shall support the Relevant Purchaser
upon reasonable request and at the costs of the Relevant Purchaser. To the
extent that any required consent by the other contractual party to the
assignments of the Contracts referred to in the preceding paragraph will not
have been obtained within four weeks of Closing, the relevant VIA GmbH Company
shall have the right to terminate such Contract in accordance with its terms or
by any mutual agreement with the other contractual party.

 

2.2.4                                 Spain

 

(i)                                                 In relation
to the transfer of Shares in Agencia de media numerica España, S.L.:

 

(a)                                              Holdco shall
deliver to the Relevant Purchaser the documents of title to the relevant Shares
(i.e.: acquisition title).

 

(b)                                             Holdco shall
deliver to the notary appointed in respect of the transfer (the “Notary”) a certificate
issued by the Secretary of the Board of Directors, with the approval of the
President (or the Director, if applicable)
declaring that all requirements established in the law and the bylaws have been
fulfilled.

 

(c)                                              The transfer
of the relevant Shares shall be effected by notarial deed on terms reasonably
satisfactory to the parties, executed by the Notary.

 

61

 

(d)                                             The Company
in question shall register the Relevant Purchaser as the owner of the Relevant
Shares in the Shareholders Register (“Libro Registro de Socios”).

 

(e)                                              Holdco shall
deliver or make available to the Relevant Purchaser the Company’s corporate
books, duly updated.

 

(ii)               Holdco and
the Relevant Purchaser shall ensure that a sale agreement in respect of Agencia
de media numerica España S.L., on terms reasonably satisfactory to the parties,
is executed before the Notary.

 

(iii)              Holdco and
the Relevant Purchaser shall execute a sale property agreement in relation to
any Business Assets located in Spain, on terms reasonably satisfactory to the
parties, before the Notary.

 

(iv)                                          Holdco, the
Relevant Purchaser and any relevant third party shall execute, if necessary
under the existing agreements, an assignment or novation agreement on terms
reasonably satisfactory to the parties.

 

(v)                                             Holdco shall
deliver to the Relevant Purchaser as many Third Party Consents as the Holdco
may have obtained.

 

2.2.5                                 United Kingdom

 

Holdco
shall deliver or make available to the Relevant Purchaser the following to the
extent they relate to Amen Ltd:

 

(i)                                                 transfers of
the relevant Shares duly executed by the registered holders in favour of the
Relevant Purchaser, accompanied by the relative share certificate (or an
express indemnity in a form satisfactory to the Relevant Purchaser in the case
of any certificate found to be missing);

 

(ii)               duly
executed transfers of the Business Assets, together with the relative documents
of title and the relevant Third Party Consents;

 

(iii)              assignments
and novations in such form as may be agreed by Holdco and the Relevant
Purchaser (duly executed as a deed by Holdco, any third party and, if so reasonably
required by Holdco, the Relevant Purchaser) together with the relative
documents of title and such Third Party Consents as Holdco may have obtained;

 

(iv)                                          assignments
of Registered Intellectual Property to the extent it has been possible to
prepare and execute these by Closing; and

 

(v)                                             those
Business Assets which are capable of transfer by delivery.

 

2.2.6                                 Netherlands

 

(i)                                                 VIA Inc and
Holdco shall transfer the relevant Shares in VIA NET.WORKS Europe Holding B.V.
(“VIA Holding B.V.”) to the Relevant Purchaser,
the Relevant Purchaser shall accept the transfer, and VIA Inc and Holdco shall
procure that Via Holding B.V. acknowledges the transfer, the foregoing to be
effected by execution by VIA Inc, the Relevant Purchaser and VIA Holding B.V.,
before a civil law notary, of notarial deeds of transfer on terms reasonably
satisfactory to the parties.

 

62

 

(ii)               Holdco shall
transfer the relevant Shares in PSINet Netherlands B.V. to the Relevant
Purchaser, the Relevant Purchaser shall accept the transfer and Holdco shall
procure that PSINet Netherlands B.V. acknowledges the transfer, the foregoing
to be effected by execution by Holdco, the Relevant Purchaser and PSINet
Netherlands B.V., before a civil notary of notarial deeds of transfer on terms
satisfactory to the parties.

 

(iii)              VIA Inc and
Holdco shall procure the transfer of the relevant Shares in VIA NET.WORKS
Nederland B.V. (“VIA Nederland”) to
the Relevant Purchaser, the Relevant Purchaser shall accept the transfer, and
VIA Inc and Holdco shall procure that Via Nederland acknowledges the transfer,
the foregoing to be effected by execution by VIA Inc, the Relevant Purchaser
and VIA Nederland, before a civil law notary, of notarial deeds of transfer on
terms reasonably satisfactory to the parties.

 

(iv)                                          VIA Inc and
Holdco shall procure the transfer of the relevant Shares in AMEN Nederland B.V.
(“AMEN  Nederland”) to
the Relevant Purchaser, the Relevant Purchaser shall accept the transfer, and
VIA Inc and Holdco shall procure that AMEN Nederland acknowledges the transfer,
the foregoing to be effected by execution by VIA Inc, the Relevant Purchaser
and AMEN Nederland, before a civil law notary, of notarial deeds of transfer on
terms reasonably satisfactory to the parties.

 

(v)                                             The Seller
shall transfer to the Relevant Purchaser all property (other than Intellectual
Property) forming part of the Business Assets by execution by the Seller and
Relevant Purchaser before a civil law notary of notarial deeds of transfer of registered
property on terms reasonably satisfactory to the parties.

 

(vi)                                          To the
extent that they are not held by third parties at Closing (the foregoing not
detracting from any warranty contained in this Agreement), the Moveable Assets
(including Computer Systems where appropriate) shall be transferred to the
Relevant Purchaser on the Closing Date by the Seller delivering the assets to
the Relevant Purchaser or giving the Relevant Purchaser access or the keys to
the locations where the aforesaid Business Assets are situated, whereupon the
aforesaid Business Assets shall be at the Relevant Purchaser’s full disposal.
The Seller shall also deliver to the Relevant Purchaser all evidence of
ownership of the Business Assets referred to in this paragraph (iv).

 

(vii)                                       Those
Business Assets referred to in paragraph (iv) above which are held by
third parties at Closing (the foregoing not detracting from any warranty
contained in this Agreement), shall be transferred to the Relevant Purchaser on
the Closing Date by virtue of this Agreement (which shall constitute a deed as
required under Dutch law) and by written notices from the Seller, given also on
behalf of the Relevant Purchaser, to the said third parties that the latter
shall from then on hold the said Business Assets for the Relevant Purchaser,
such notices to be delivered to the third parties by the Seller on or before
the Closing Date.

 

(viii)            The Business
Intellectual Property shall be transferred to the Relevant Purchaser by
assignments in respect of Registered Intellectual Property

 

63

 

and an assignment in
Agreed Terms in respect of all other Intellectual Property.

 

(ix)               The benefit
of the Claims (other than Claims in order or bearer form) and all other rights referred
to in the Agreement (other than rights in order or bearer form), including
without limitation all licences, consents, authorisations, orders, warrants,
confirmations, permissions, certificates, approvals, registrations and
authorities, shall, to the extent permitted by law, be transferred on the
Closing Date to the Relevant Purchaser by virtue of this Agreement. The Sellers
shall give written notice to the affected third parties of the foregoing
transfer on or before the Closing Date.

 

(x)                Those Claims
and other rights referred to in the Agreement that are in order or bearer form
shall be transferred by the Seller to the Relevant Purchaser by delivery and,
where required, endorsement, to the Relevant Purchaser of the documents in
which such Claims and other rights are established.

 

(xi)               The rights
and obligations of the Sellers’ Group arising under the Contracts which require
Third Party Consents that have not been obtained by the Closing Date (the
foregoing not detracting from any obligation of the Seller or right of the
Relevant Purchaser under this Agreement), shall be transferred to the Relevant
Purchaser on the terms set out in Schedule 3.

 

(xii)              In respect
of any Contract in respect of which the required Third Party Consent was
obtained prior to signature of this Agreement, the rights and obligations of
the Seller’s Group under such Contract shall, to the extent permitted by law,
be transferred by the Seller to the Relevant Purchaser on the Closing Date by
virtue of this Agreement which shall constitute a deed of assignment as
required under Dutch law. The Seller and the Relevant Purchaser shall jointly
notify the affected third parties of this assignment by written notice
delivered on the Closing Date.

 

(xiii)             The rights
and obligations of the Sellers’ Group under the Contracts in respect of which
the required Third Party Consents are obtained after signature of this
Agreement but prior to Closing, shall, to the extent permitted by law, be
transferred by the Seller to the Relevant Purchaser on the Closing Date by the
Seller and the Relevant Purchaser executing Local Transfer Documents in the
form of a deed of assignment on terms reasonably satisfactory to the parties.
The Seller and the Relevant Purchaser shall jointly notify the affected third parties
of the foregoing transfer by written notice delivered on the Closing Date.

 

64

 

2.2.7                                 United States

 

The
Relevant Purchaser shall deliver or make available to VIA Inc. a receipt for
the stock certificates delivered pursuant to item (i) below.

 

VIA
Inc. shall deliver or make available to the Relevant Purchaser the following to
the extent they relate to VIA NET.WORKS U.S.A., Inc. (“VIA USA”):

 

(iii)                                           stock
certificates for the relevant Shares, each accompanied by a stock power duly
executed by the registered holder of such Shares, in favour of the Purchaser;

 

(iv)                                          duly
executed transfers of the Business Assets, together with the relative documents
of title and the relevant Third Party Consents;

 

(v)                                             assignments
of Registered Intellectual Property in accordance with Schedule 4 to the
extent it has been possible to prepare and execute these by Closing;

 

(vi)                                          assignments
and novations in such form as may be agreed by VIA Inc. and the Purchaser (duly
executed by VIA Inc. and any third party whose signature is reasonably
requested by the Purchaser or VIA Inc.) together with the relative documents of
title and such Third Party Consents as VIA Inc may have obtained; and

 

(vii)                                       a
certificate stating that VIA Inc (a) owns 100% of the outstanding issued
share capital of VIA USA, (b) consents to the shares held in VIA USA being
transferred and (c) waives any rights it may have under Article XI.B
of the Charter of VIA USA as a result of the transfer.

 

2.2.8                                 Portugal

 

(i)                                                 In relation
to the transfer of Shares in Via Net. Works Portugal—Tecnologias de Informação,
S.A.:

 

(a)                                              the transfer
of the relevant Shares shall be effected by transfer agreement, and Seller will
deliver the share titles to the Purchaser, which will acknowledge receiving the
Shares; and

 

(b)                                             the Seller
shall request the record of the transfer of the Shares owned by it to the
Relevant Purchaser in the share register of the company.

 

(ii)                                              In relation
to the transfer of Shares in “Amenworld—Serviços Internet, Sociedade
Unipessoal, Lda” the Seller shall transfer the relevant Shareholding to the
Relevant Purchaser, the Relevant Purchaser shall accept the transfer before a
civil notary of notarial deed of transfer on terms satisfactory to the parties.

 

65

 

3                                                     Further Obligations in Addition to Transfer

 

3.1                                           General Obligations

 

The
Seller shall deliver or make available to the Relevant Purchasers the following
in each case to the extent applicable and required under the laws of the
respective jurisdiction of the Group Companies which are the subject of the
relevant Closing:

 

3.1.1                                 the written
resignations on terms reasonably satisfactory to the parties (and legalised by
a notary where required) of each of the persons named in Schedule 3 from
the office or position specified in Schedule 3, to take effect on the
relevant Closing;

 

3.1.2                                 evidence
that all persons referred to in 3.1.1 above holding share(s) in any Group
Company under a nominee-type arrangement or any arrangement having a similar
effect have transferred such share(s) to such other persons as the
Relevant Purchasers may specify, to take effect on the relevant Closing;

 

3.1.3                                 if
practicable, the Sellers having used reasonable endeavours to obtain the same,
the written resignations of the auditors of the Group Companies concerned to
take effect on the relevant Closing Date, with acknowledgements signed by each
of them in a form satisfactory to the Relevant Purchasers to the effect that
they have no claim against any Group Company or otherwise complying with any
relevant law or regulation;

 

3.1.4                                 irrevocable
powers of attorney or such other appropriate document (in such form and terms
as the Relevant Purchasers may reasonably require) executed by each of the
holders of the Shares which are the subject of the relevant Closing in favour
of the Relevant Purchasers or as it may direct to enable it (pending
registration of the relevant transfers) to exercise post the relevant Closing
all voting and other rights attaching to such Shares and to appoint proxies for
this purpose with an express undertaking of the holder of such Shares not to
exercise such voting and other rights attached to such Shares;

 

3.1.5                                 written
waivers or consents in relation to pre-emption rights as the Relevant
Purchasers may reasonably require signed by shareholders of the Companies which
are the subject of the relevant Closing to enable the Relevant Purchasers or
its nominees to be registered as holder of the Shares;

 

3.1.6                                 releases or
waivers on terms reasonably satisfactory to the parties in respect of the
Encumbrances affecting any of the Shares, or any of the Business Assets which
are the subject of the relevant Closing;

 

3.1.7                                 any releases
which the parties have obtained under Clause 7.4;

 

3.1.8                                 in each case
where the said information is not in the possession of the relevant Group
Company, the corporate books and records, duly written up-to-date), including
the shareholders’ register and share certificates in respect of the
Subsidiaries, and all other books and records, all to the extent required to be
kept by each Group Company under the law of its jurisdiction of incorporation;

 

3.1.9                                 in each case
where the said information is not at the Properties all other books, records
and other information relating primarily to the Group Companies or the VIA
Operations (save for books, records and other information which the Seller is
required by law to retain) and all information relating to customers,
suppliers, agents and distributors and other information relating primarily to
the Group Companies or

 

66

 

the VIA Operations
(including the Relevant Employees) as the Relevant Purchasers may reasonably
require and copies, or, at the Seller’s option, originals of any such books,
records, documents or other information in the possession or control of the
Seller which relate only in part to the Group Companies or the VIA Operations
and which the Relevant Purchasers may reasonably require;

 

3.1.10                          evidence as
to:

 

(i)                                                 the
acceptance by shareholders or the directors of each of the relevant Group
Companies of the resignations referred to in paragraph 3.1.1;

 

(ii)               the
acceptance by shareholders of the relevant Group Companies of the resignation
of the auditors referred to in paragraph 3.1.3; and

 

(iii)              the approval
by the shareholders or the directors of the transfer of the Shares or the sale
of the VIA Operations to the Relevant Purchasers,

 

where
such acceptance or approval is required by law or under the constitutional documents
of the Group Company concerned;

 

3.1.11                          evidence
reasonably satisfactory to the Relevant Purchasers of the revocation of
existing authorities given by the Group Company to banks (in respect of the
operation of its bank accounts);

 

3.1.12                          other requirements,
e.g. certified copies of board resolutions changing registered office, changing
accounting reference date, changing constitutional documents; and

 

3.1.13                          all original
deeds and documents relating to any Group Company’s interests in or title to the
Properties to the extent the same are not in the possession or under the
control of the relevant Group Company.

 

67

 

Schedule 7

 

Warranties
given under Clause 8.1

 

1                                                     Corporate Information

 

1.1                                           The Shares and the Group Companies

 

1.1.1                                 The Relevant
Seller listed in Schedule 1:

 

(i)                                                 is the sole
legal and beneficial owner of the Shares listed opposite the name of that
Seller in Schedule 1; and

 

(ii)                                              has the
right to exercise all voting and other rights over the Shares.

 

1.1.2                                 The Shares
comprise the whole of the issued share capital of the Companies, have been
properly and validly issued and are each fully paid.

 

1.1.3                                 The
shareholders specified in paragraph 2 of Schedule 2:

 

(i)                                                 are the sole
legal and beneficial owners of the shares in the Subsidiaries; and

 

(ii)                                              have the
right to exercise all voting and other rights over such shares.

 

1.1.4                                 The shares
in the Subsidiaries comprise the whole of the issued and allotted share capital
of the Subsidiaries, have been properly and validly issued and allotted and
each are fully paid.

 

1.1.5                                 No person
has the right (whether exercisable now or in the future and whether contingent
or not) to call for the allotment, conversion, issue, registration, sale or
transfer, amortisation or repayment of any share capital or any other security
giving rise to a right over, or an interest in, the capital of any Group
Company under any option, agreement or other arrangement (including conversion
rights and rights of pre-emption).

 

1.1.6                                 There are no
Encumbrances on the shares in any Group Company.

 

1.1.7                                 No third
party consents are required for the transfer of the Shares pursuant to this
Agreement other than the approval of VIA Stockholders as referred to in Clause
4.1.

 

1.1.8                                 No Group Company
has any interest in, or has agreed to acquire, any share capital or other
security referred to in paragraph 1.1.5 of any other company (wherever
incorporated) other than the Subsidiaries set out in Schedule 2.

 

1.1.9                                 The
particulars contained in Schedule 2 are true and accurate.

 

1.2                                           Constitutional Documents, Corporate registers and minute books

 

1.2.1                                 The
constitutional documents in the Data Room are true and accurate copies of
the constitutional documents of the Group Companies and there have not been and
are not any breaches by any Group Company of its constitutional documents which
would have a material adverse effect on the business of the Group.

 

1.2.2                                 The register
of members and minute books for meetings of members required to be maintained
by each Group Company under the law of the jurisdiction of its incorporation:

 

(i)                                                 are
up-to-date;

 

(ii)                                              are
maintained in accordance with applicable law; and

 

68

 

(iii)              contain
complete and accurate records of all matters required to be dealt with in such
books and register,

 

in
each case in all material respects.

 

1.2.3                                 All
registers of members and minute books of the Group Companies are in the
possession (or under the control) of the Sellers, the relevant Group Company or
legal counsel to the relevant Group Company and no written notice or allegation
that any of such books and records is incorrect or should be rectified has been
received.

 

2                                                     Accounts

 

2.1                                           Consolidated Accounts

 

The
Consolidated Accounts have been prepared in accordance with applicable law and
with US GAAP at the Accounts Date so as to give a true and fair view of the
state of affairs of the VIA Group and the Group Companies taken as a whole at
the Accounts Date and of the profits or losses for the period concerned.

 

2.2                                           Solus Accounts

 

The
Solus Accounts have been prepared in accordance with applicable law and with
the accounting principles, standards and practices generally accepted at 31 December 2003
in the jurisdiction in which the relevant Group Company is incorporated so as
to give a true and fair view of the state of affairs of each Group Company for
which Solus Accounts have been prepared at 31 December 2003 and of the
profits or losses for the period concerned.

 

2.3                                           Management Accounts

 

2.3.1                                 The
unaudited management accounts relating to the Group Companies for the two (2) month
period ended 28 February 2005 (the “Management
Accounts” and the “Management
Accounts Date”, respectively), a copy of which is included in the
Data Room under the folder entitled “VIA Inc”, have been prepared on bases
consistent in all material respects with those employed in the preparation of
the Consolidated Accounts, as adjusted for US GAAP.

 

2.3.2                                 The
Management Accounts do not materially misstate the assets and liabilities of
the Group as at the Management Accounts Date nor the profits or losses of the
Group for the period concerned having regard to the purposes for which they
have been prepared.

 

3                                                     Financial Obligations

 

3.1                                           Financial Facilities

 

Details
of all financial facilities (including loans, derivatives and hedging
arrangements outstanding or available to the Group Companies are given in the
Disclosure Letter and/or the Data Room.

 

3.2                                           Guarantees

 

Other
than in the ordinary and usual course of business or pursuant to this Agreement
or the Finance Documents, there is no outstanding guarantee, indemnity,
suretyship or security given:

 

3.2.1                                 by any Group
Company; or

 

3.2.2                                 for the
benefit of any Group Company.

 

69

 

4                                                     Assets

 

4.1                                           The Properties

 

4.1.1                                 No Group
Company owns any real property.

 

4.1.2                                 True and
complete copies of all leases with a rental cost in excess of EUR 75,000 per
lease relating to office and data centres relevant to any Group Company’s are
contained in the Data Room.

 

4.1.3                                 Each
Property has the benefit of such rights in the document entitled “Real Property
Leasehold Interest Summary Relating to Offices and Data Centres” and easements
as are necessary for the existing use of the Property.

 

4.1.4                                 There is no
outstanding notice or dispute involving the relevant Group Company and any
third party as to the occupation or use of any Property which would, if
implemented or enforced, have a material adverse effect on the business of the
Group carried out at that Property.

 

4.2                                           Leases

 

Where
any Property is leased by a Group Company:

 

4.2.1                                 there is no
subsisting breach (other than non or late payment of rent and no non-observance
of any covenant, condition or agreement contained in the lease under which the
Group Company holds its interest in the Property, on the part of the relevant
landlord or the Group Company, which would have a material adverse effect on
the business of the relevant Group Company carried on at the Property.

 

4.2.2                                 there is no
right for the landlord to terminate the lease before the expiry of the
contractual term other than by breach of the lease by the lessee.

 

4.3                                           Ownership of Assets

 

All
tangible assets included in the Accounts or acquired by any of the Group
Companies since the Accounts Date, excepting rights and retention of title
arrangements arising by operation of law or in the ordinary and usual course of
business (such as leasing arrangements):

 

4.3.1                                 are legally
and beneficially owned by the Group Companies;

 

4.3.2                                 are, where capable
of possession, in the possession or under the control of the relevant Group
Company except Customer Premises Equipment, situated at customer sites or
physical points of presence and assets owned by the Group Companies at physical
points of presence;

 

4.3.3                                 are free
from Encumbrances other than Permitted Encumbrances (save for Permitted
Encumbrances of the type described in paragraph (b) of the definition of
Permitted Encumbrances);

 

4.3.4                                 are not the
subject of any factoring arrangement, conditional sale or credit agreement.

 

5                                                     Intellectual Property and Information Technology

 

5.1                                           Ownership etc.

 

5.1.1                                 All of the
Business Intellectual Property and the Material Group IP is:

 

(i)                                                 legally
owned, licensed to or used under the authority of the owner by the Seller, in
the case of the Business Intellectual Property; or

 

70

 

(ii)                                              legally
owned by, licensed to or used under the authority of the owner by the Group
Companies, in the case of the Material Group IP.

 

Copies
of all such licences and authorities (excluding any shrink-wrap licences for
computer software and domain names) are included in the Data Room.

 

5.1.2                                 The Material
Group IP and the Business Intellectual Property in each case owned by the Group
Companies or the Sellers as the case may be is:

 

(i)                                                 not being
infringed, attacked or opposed by any person;

 

(ii)               not licensed
to a third party other than pursuant to an agreement identified in the Data
Room, to end users in the ordinary course of business under end user license
agreements or except as set out in the Disclosure Letter; and

 

(iii)              not subject
to any Encumbrance other than a Permitted Encumbrance (save for Permitted
Encumbrances of the type described in paragraph (b) of the definition
of Permitted Encumbrances).

 

5.1.3                                 The Data Room lists
all Registered Intellectual Property:

 

(i)                                                 forming part
of the Business Intellectual Property; or

 

(ii)                                              owned by a
Group Company and forming part of the Group Intellectual Property.

 

5.1.4                                 The document
entitled “Business Intellectual Property” contained in the Data Room lists
all unregistered trade marks:

 

(i)                                                 forming part
of the Business Intellectual Property; or

 

(ii)               owned by a
Group Company and forming part of the Group Intellectual Property and which in
each case is, material to the business of the Group.

 

5.2                                           Licences

 

The:

 

5.2.1                                 Licence
Agreements; and

 

5.2.2                                 all licences
and agreements relating to the Material Group IP are included in the Data Room,

 

(including
all amendments, novations, supplements or replacements to those licences and
agreements) are in full force and effect, no notice having been given on either
side to terminate them and the obligations of all parties have been fully
complied with.

 

5.3                                           Employee Rights

 

Except
as set out in the Data Room, there are no outstanding claims against any Group
Company or the Seller under any contract or under any law providing for
employee compensation in respect of any rights or interests in Intellectual
Property.

 

5.4                                           Infringement

 

5.4.1                                 Excluding
patents and similar rights, the processes employed and the products and
services dealt in by:

 

(i)                                                 the Seller
in relation to or in connection with the business of the Group; and

 

71

 

(ii)                                              each Group
Company,

 

do
not use, embody or infringe any rights or interests of any third party in
Intellectual Property (other than those licensed to the Seller or the Group
Companies pursuant to the agreements described at paragraph 5.2 above) which
would have a material adverse effect on the business of the Group.

 

5.4.2                                 Excluding
patents and similar rights, no written notice of any claims of infringement of
rights or interests, in each case of the nature referred to in 5.4.1, has been
received by any Group Company or member of the VIA Group.

 

5.5                                           Sufficiency

 

The
Business Intellectual Property and the Group Intellectual Property comprise
sufficient rights and interests in Intellectual Property reasonably necessary
for the carrying on of the business of the Group in the manner and to the
extent carried on as at the date hereof.

 

5.6                                           Other Provisions

 

5.6.1                                 The Data Room contains
a full list of domain names under the folder entitled “Domain Names” which are:

 

(i)                                                 included in
the Business Intellectual Property; or

 

(ii)                                              registered
in the name of any Group Company and included in the Group Intellectual
Property.

 

5.6.2                                 No action
has been knowingly taken by the Seller or any Group Company to damage or
otherwise adversely affect the reputation or goodwill associated with any
unregistered trade mark identified in set out in the document entitled “Business
Intellectual Property” contained in the Data Room.

 

5.7                                           Computer Systems

 

5.7.1                                 In relation
to the Seller’s Computer Systems and the Group Companies’ Computer Systems:

 

(i)                                                 the present
capacity, capability, functionality and performance of the Computer Systems are
sufficient to satisfy the business requirements of the Group Companies as at
the date hereof;

 

(ii)                                              there are no
performance reductions or breakdowns of, or logical or physical intrusions to,
any Computer Systems or losses of data which are having a material adverse
effect on the business of the Group;

 

(iii)                                           each of the
Computer Systems are owned by, leased by or licensed to the relevant Group
Company;

 

(iv)                                          the Data Room contains
accurate details of the Group’s current procedures with a view to security of
the Computer Systems and data stored on them;

 

(v)                                             the data
storage capability, functionality and performance of the Computer Systems are
sufficient in all material respects to conduct the Group’s business (as it is
now conducted);

 

(vi)                                          the Group
Companies have full and unrestricted access to and use of the Computer Systems
and no third party agreements or consents are required

 

72

 

to enable the Group
Companies to continue such access and use following Closing; and

 

(vii)             all material
services relating to, and licences of, Computer Services are provided under
written contracts with the Group (including maintenance and support, security,
disaster recovery, management and utilisation (including escrow arrangements
relating to the deposit of source codes, facilities management and computer
bureau services agreements)) and true copies of which are included in the Data
Room.

 

5.7.2                                 The Computer
Systems are sufficient for the purposes of carrying on the business of the
Group in the manner and to the extent carried on as at the date hereof.

 

5.7.3                                 All the
operating data of the Group Companies (being data materially required for the
Group Companies to be able to provide services to their customers, to bill such
customers, pay their suppliers, manage and compensate their employees and
maintain internal and external e-mail communications systems for their
employees) has been regularly archived in soft copy form.

 

5.7.4                                 The Group
Company has in its unencumbered possession or has unrestricted access to
up-to-date and accurate source code for all material bespoke software which has
been written or produced in-house by the Group.

 

5.7.5                                 Copies of
all licences and escrow agreements relating to software material to the Group,
either individually or in the aggregate, are included in the Data Room. The
licences of such software have been complied with by the relevant Group Company
in all material respects in the operation of the business of the Group and any
restrictions in those licences do not materially and adversely affect the
present conduct of the business of the Group.

 

5.8                                           Data Protection

 

5.8.1                                 No written
notice alleging non-compliance with any applicable data protection legislation
(including any enforcement notice, deregistration notice, transfer prohibition
notice or any equivalent notice) has been received by any of the Group
Companies or the Seller from any competent data protection authority.

 

5.8.2                                 No Group
Company or the Seller is involved in a dispute with an individual in respect of
any infringement or alleged infringement of any applicable data protection
legislation and no Group Company or the Seller has received a written claim for
compensation from any individual in respect of any such infringement or alleged
infringement in the previous 12 months.

 

5.8.3                                 There is no
outstanding court order against any Group Company or the Seller in respect of
the rectification or erasure of personal data.

 

6                                                     Contracts

 

6.1                                           Contracts

 

No
Group Company is a party to or subject to any Material Contract which:

 

6.1.1                                 is not in
the ordinary and usual course of business;

 

6.1.2                                 is not on an
arm’s length basis;

 

73

 

6.1.3                                 is of a long
term nature that is, unlikely to have been fully performed, in accordance with
its terms, more than 36 months after the date on which it was entered into or
undertaken;

 

6.1.4                                 restricts
its freedom to carry on its business in any part of the world in such manner as
it thinks fit so as to have a material adverse effect on the Group.

 

6.2                                           Joint Ventures etc.

 

Except
as disclosed in the Data Room, no Group Company is, or has agreed to become, a
member of any joint venture, consortium, partnership or other association
(other than a recognised trade association in relation to which the Group
Company has no liability or obligation except for the payment of annual
subscription or membership fees).

 

6.3                                           Agreements with Connected Parties

 

6.3.1                                 There are no
existing contracts, and have not been since 1 January 2004 any contracts,
between, on the one hand, any Group Company and, on the other hand, the Seller
or any other member of the VIA Group other than on normal commercial terms in
the ordinary and usual course of business or which cannot be terminated on less
than 30 days notice and other than those contracts included in the Data
Room.

 

6.3.2                                 The Seller
is not nor is any Group Company party to any contract material to the business
of the Group, with any current or former employee or current or former director
or officer of any such Group Company or the Seller or in which any such person
is interested (whether directly or indirectly), other than on normal commercial
terms in the ordinary and usual course of business.

 

6.4                                           Material Contracts

 

6.4.1                                 All the
Material Contracts to which a Group Company is party are in full force and
effect and other than the late or non-payment of monies owing, have been duly
complied with by the relevant Group Company in all material respects and
nothing has occurred whereby any of them is subject to early termination or
which has given rise to a material claim in damages under any of them by any
party to any of them.

 

6.4.2                                 Copies of
all Contracts and Material Contracts are contained in the Data Room.

 

6.4.3                                 The
transactions contemplated by this Agreement will not result in a material
breach of, or give any third party a right to terminate any Material Contract.

 

7                                                     Employees and Employee Benefits

 

7.1                                           Employees and Terms of Employment

 

7.1.1                                 The Data Room contains
details, in relation to each Group Company and the VIA Operations, of:

 

(i)                the total
number of the Employees;

 

(ii)               the salary
and other benefits, period of continuous employment, location, grade, age and
notice period of each Employee; and

 

(iii)              the terms of
the contract of employment of each Senior Employee.

 

74

 

7.2                                           Termination of Employment

 

7.2.1                                 Since 31 December 2004
no Senior Employee has given or received notice terminating his or her
employment.

 

7.2.2                                 In relation
to any claim received by a Group Company, no liability which remains
undischarged has been incurred by any Group Company or the Seller for:

 

(i)                                                 breach of
any contract of employment with any Employee; or

 

(ii)                                              breach of
any statutory employment right.

 

7.2.3                                 Except as
provided, reflected or noted in Management Accounts, neither the Seller nor any
Group Company has made or agreed to make any payment or provided or agreed to
provide any benefit to any Employee or former employee employed by the Group
Company or the Seller with regard to the VIA Operations since 31 December 2004
or any dependant of such Employee or former employee in connection with the
proposed termination or suspension of employment of any such Employee or former
employee.

 

7.3                                           Works Councils and Employee Representative Bodies

 

The
Data Room contains details of all work councils and employee
representative bodies which by law or any collective bargaining agreement have
the right to be informed and/or consulted on matters which affect the
Employees.

 

7.4                                           Collective Bargaining Agreements etc.

 

Other
than national collective bargaining agreements or industry wide collective
agreements, the union recognition agreements, collective agreements and
European Works Council agreements contained in the Data Room are all the
agreements between the Group Companies and the Seller and trade unions or
representative bodies.

 

7.5                                           Bonus or other Profit-related Schemes

 

There
are contained in the Data Room the rules and other documentation
relating to all share incentive, share option, profit sharing, bonus or other
incentive arrangements for or affecting any Employees or other workers or
former employees or other former workers of the Group Companies or the Seller
since 31 December 2003 together with details of all awards allocated and
options granted by each Group Company.

 

As
at the date of this Agreement, the Sellers have paid of procured that the Group
Companies have paid all Employee bonuses due in respect of 2004, including all
Taxation in relation thereto.

 

7.6                                           Group Retirement Benefit Arrangements

 

The
Group Companies are in compliance with the terms of any retirement, death,
disability or life assurance benefits provided to Employees in all material
respects and the Data Room contains copies of all such forms as are
material in the context of the Group.

 

8                                                     Legal Compliance

 

8.1                                           Licences and Consents

 

To
the extent that either of the Sellers or any Group Company is solely
responsible for obtaining them, all licences, consents, authorisations, orders,
warrants, confirmations, permissions,

 

75

 

certificates,
approvals, registrations and authorities material to the business of the Group
as carried on at the date hereof have been obtained, are in force and are being
complied with in all material respects.

 

8.2                                           Compliance with Laws

 

8.2.1                                 Each Group
Company and the Seller is conducting, and during the two year period prior to
First Closing or, if shorter, the period since the relevant Group Company was
acquired by the Seller’s Group, has conducted, the business of the Group in
material compliance with applicable laws and regulations in each country in
which the business of the Group is carried on except where such non-compliance
does not materially and adversely effect the present conduct of the business of
the Group.

 

8.2.2                                 There is no
investigation, disciplinary proceeding or enquiry by, or order, decree,
decision or judgment of, any court, tribunal, arbitrator, governmental agency
or regulatory body outstanding against any Group Company or the Seller or any
person for whose acts or defaults it may be vicariously liable which would have
a material adverse effect upon the business of the Group.

 

8.2.3                                 No Group
Company or the Seller has received any written notice during the past
12 months from any court, tribunal, arbitrator, governmental agency or
regulatory body with respect to a violation and/or failure to comply with any
applicable law or regulation or requiring it to take or omit any action which
in any case would have a material adverse effect on the business of the Group.

 

9                                                     Litigation

 

9.1                                           Current Proceedings

 

Except
as set out in the Data Room, no Group Company nor either Seller is involved
whether as claimant or defendant or other party in any claim, legal action,
proceeding, suit, litigation, prosecution, investigation, enquiry or
arbitration (other than as claimant in the collection of debts arising in the
ordinary and usual course of its business none of which exceeds $20,000) which
would have a material adverse effect on the business of the Group.

 

9.2                                           Threatened Proceedings

 

No
such claim, legal action, proceeding, suit, litigation, prosecution,
investigation, enquiry or arbitration of material importance has been
threatened in writing by or against any Group Company or the Seller (or any
person for whose acts or defaults a Group Company or the Seller may be
vicariously liable) which would have a material adverse effect on the business
of the Group.

 

9.3                                           Circumstances likely to lead to claims

 

The
Seller has not received any written notice of any investigation, disciplinary
proceeding or other circumstances likely to lead to any such claim or legal
action, proceeding, suit, litigation, prosecution, investigation, enquiry or
arbitration which would have a material adverse effect on the business of the
Group.

 

9.4                                           Disputes with Creditors

 

Material
particulars of all disputes (other than those relating solely to the late
payment or non-payment of monies due) between each Group Company and its
creditors in respect of

 

76

 

amounts
of $100,000 or more due to such creditors are set out in the Disclosure Letter
or in the Data Room.

 

10                                              Insurance

 

10.1                                    Particulars of Insurances

 

Copies
of all documentation relating to the insurance policies of the Group Companies
in the possession of the Seller and material to the business of the Group are
contained in the Data Room.

 

10.2                                    Insurance Claims

 

10.2.1                          Details of
all outstanding insurance claims in excess of $100,000 made during the past
twelve (12) months are contained in the Disclosure Letter or the Data Room.

 

10.2.2                          No
circumstances exist which are likely to give rise to any insurance claim in
excess of $100,000.

 

11                                              Tax

 

11.1                                    Company Residence

 

Each
Group Company has been resident for tax purposes in its country of
incorporation and has not been resident anywhere else at any time since its
incorporation and will be so resident at Closing. For the avoidance of doubt, references
to residence in this paragraph shall be construed as references to residence as
determined by the local law of the jurisdiction or jurisdictions concerned and
not by reference to the provisions of any relevant double taxation treaty or
convention.

 

11.2                                    Returns and Information

 

11.2.1                          All
registrations, returns, computations, notices and information which are or have
been required to be made or given in the previous twelve months by each Group
Company for any Taxation purpose (i) have been made or given on a proper
basis and are up-to-date and correct and (ii) no written notice has been
received by any Group Company of any dispute with any Tax Authority.

 

11.2.2                          Each Group
Company has maintained all records required to be maintained for Taxation purposes
or which may be required to calculate any Taxation payable or the amount of any
Taxation Benefit.

 

11.3                                    Payment of Taxation

 

11.3.1                          In the two
years prior to the date hereof, each Group Company has paid all Taxation which
it is or has been liable to pay or account for and the due date for payment of
which has fallen prior to the date hereof and has not received any written
notice that it is liable to any fine, penalty, surcharge or interest in
connection with Taxation that remains outstanding.

 

11.3.2                          In the two
years prior to the date hereof, each Group Company has deducted or withheld all
Taxation which it has been obliged by law to deduct or withhold from payments
made by it and has properly accounted to the relevant Tax Authority for the
Taxation so deducted or withheld.

 

77

 

11.4                                    Special Regimes/Elections/Rulings

 

There
are set out in the Disclosure Letter, with express reference to this paragraph,
full particulars of any agreement, arrangement or election between any Group
Company and any Tax Authority pursuant to which the relevant Group Company is
authorised not to comply with, but for such agreement or arrangement, would be
its statutory obligations.

 

11.5                                    Tax Equalisation Payments

 

11.5.1                          No Group
Company is under any obligation to surrender or otherwise transfer any Taxation
Benefit.

 

11.5.2                          No Group
Company is liable to make a payment for utilisation, surrender or other
transfer of any Taxation Benefit (“Taxation
Equalisation Payment”), nor is any Taxation Equalisation
Payment received by any Group Company liable to be refunded.

 

11.5.3                          There are
set out in the Disclosure Letter, with express reference to this paragraph, or
the Data Room, full particulars of all surrenders or other transfers of any
Taxation Benefit made by any Group Company since the Accounts Date.

 

12                                              Important Business Issues since the Accounts Date

 

12.1                                    Since 31 December 2004:

 

12.1.1                          there has
been no material adverse change in the financial or trading position or
prospects of the Group taken as a whole (other than (i) in connection with
the current financial position of the Group to the extent disclosed to the
Relevant Purchasers in the Data Room in writing or otherwise publicly
available (including without limitation the liquidity of the Group and the
individual Group Companies); (ii) a change affecting or likely to affect
all companies carrying on business in similar countries in which the Group
carries on business); (iii) a material adverse change in stock or other
financial markets, interest rates, exchange rates or other general economic
conditions; (iv) any matter contained in the Disclosure Letter or the Data
Room; or (v) any matter effected pursuant to or in accordance with this
Agreement including the change in control of the Group Companies resulting from
the sale and purchase of the Shares) and no event, fact or matter has occurred
which will give rise to any such change;

 

12.1.2                          no Group
Company has acquired, or agreed to acquire, any single capital asset having a value
in excess of $100,000;

 

12.1.3                          no Group
Company has disposed of, written off, or agreed to dispose of or write off, any
capital asset having a value reflected in the Accounts in excess of $100,000 or
acquired since the Accounts Date;

 

12.1.4                          except as
provided in the Finance Documents, no Group Company has borrowed or raised any
money or taken up any financial facilities and no Group Company has repaid any
borrowing or indebtedness in advance of its stated maturity;

 

12.1.5                          no dividend
or other payment which is, or could be treated as, a distribution has been
declared, paid or made by any Group Company;

 

78

 

12.1.6                          except in
connection with the transaction contemplated by this Agreement or in the
ordinary course of business, no resolution of the shareholders of any Group
Company has been passed;

 

12.1.7                          no Group
Company has changed its accounting reference date;

 

12.1.8                          no share or
loan capital has been allotted, issued, repaid or redeemed or agreed to be allotted,
issued, repaid or redeemed by any Group Company; and

 

12.1.9                          no Group
Company has redeemed or purchased or agreed to redeem or purchase any of its
share capital.

 

12.16                             Since the
Management Accounts Date no Group Company has sold or agreed to sell a debt at
less than its value in the Management Accounts and no debt has been released,
deferred, subordinated or written off by any Group Company other than between
Group Companies or between Group Companies and the VIA Group.

 

13                                              Disclosure of Information

 

13.1                                    The Data Room has
been collated by the Seller in good faith and the Seller has not knowingly
included any matter which is untrue or knowingly omitted any matter the
omission of which is material to the business of the Group.

 

13.2                                    Each
document in the Data Room is a true and complete copy of the original of
such document.

 

14                                              Authority and Capacity

 

14.1.1                          The Seller
and each Group Company is validly existing and is a company duly incorporated
under the law of its jurisdiction of incorporation.

 

14.1.2                          The Seller
has the legal right and full power and authority to enter into and subject to
the approval of the VIA Shareholders, perform this Agreement, any Local
Transfer Document to which it is a party and any other documents to be executed
by it pursuant to or in connection with this Agreement or any Local Transfer
Document including, for the avoidance of doubt, to proceed to First Closing
without the approval of the VIA Shareholders in accordance with Section 271
of the Delaware Corporate Law.

 

14.1.3                          The
documents referred to in paragraph 16.1.2 will, when executed, constitute valid
and binding obligations on the Seller, in accordance with their respective
terms.

 

14.1.4                          The Seller
has taken or will have taken by the relevant Closing all corporate action
required by it to authorise it to enter into and to perform this Agreement, any
Local Transfer Document to which it is a party and any other documents to be
executed by it pursuant to or in connection with this Agreement or any Local
Transfer Document.

 

15                                              Insolvency etc.

 

15.1.1                          No Group
Company or the Seller will be rendered insolvent by any of the transactions
contemplated herein or in connection with the Facility Agreement and any
related documents (the “Contemplated
Transactions”), under the laws of its jurisdiction
of incorporation or rendered unable to pay its debts as they fall due.

 

15.1.2                          Immediately
after giving effect to the consummation of the Contemplated Transactions,
including the receipt of the amounts payable by the Relevant Purchasers under
this Agreement for the sale of the Shares (i) the Seller will be able

 

79

 

to pay its Liabilities as
they become due in the usual course of its business, (ii) the Seller will
not have unreasonably small capital with which to conduct its present or
proposed business, (iii) the Seller will have assets (calculated at fair
market value) that exceed its Liabilities and (iv) taking into account all
pending and threatened litigation, final judgments against the Seller in
actions for money damages are not reasonably anticipated to be rendered at a
time when, or in amounts such that, the Seller will be unable to satisfy any
such judgments promptly in accordance with their terms (taking into account the
maximum probable amount of such judgments in any such actions and the earliest
reasonable time at which such judgments might be rendered) as well as all other
obligations of the Seller. The cash available to the Seller, after taking into
account all other anticipated uses of the cash, will be sufficient to pay all
such debts and judgments promptly in accordance with their terms.

 

15.1.3                          For the
purposes of paragraph 15.1.2 above:

 

“Governmental
Body” means any:

 

(i)                nation,
state, county, city, town, borough, village, district, or other jurisdiction;

 

(ii)               federal,
state, local, municipal, foreign, or other government;

 

(iii)              governmental
or quasi-governmental authority of any nature (including any agency, branch,
department, board, commission, court, tribunal or other entity exercising
governmental or quasi-governmental powers); or

 

(iv)              body
exercising, or entitled or purporting to exercise, any administrative,
executive, judicial, legislative, police, regulatory, or taxing authority or
power;

 

“Insolvent” means that the sum of the present fair
saleable value of Seller’s assets does not and will not exceed its debts and
other probable Liabilities;

 

“Liability” means with respect to any Person, any
liability or obligation of such Person of any kind, character or description,
whether known or unknown, absolute or contingent, accrued or unaccrued,
disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint
or several, due or to become due, vested or invested, executory, determined,
determinable or otherwise and whether or not the same is required to be accrued
on the financial statements of such Person; and

 

“Person” means an individual, partnership,
corporation, business trust, limited liability company, limited liability
partnership, joint stock company, trust, unincorporated association, joint
venture or other entity, or a Governmental Body.

 

15.1.4                          In the
twelve month period prior to the date hereof, no Group Company or the Seller
has been held in material default by lenders under any debt financing.

 

15.1.5                          No order for
the winding up of any Group Company has been made.

 

15.1.6                          No
administrator or administrative receiver has been appointed in respect of the
assets of the Group Companies.

 

15.1.7                          No steps
have been taken to enforce any security over any assets of any Group Company or
the Seller and no event has occurred to give the right to enforce such
security.

 

80

 

Schedule 8

 

Working
Capital Projections

 

81

 

Schedule 9

 

Guarantees

 

PART A

 

GROUP
COMPANY GUARANTEES:

 

The
Sellers shall use their reasonable endeavours to procure on or prior to each
Closing the release of each relevant Group Company which is the subject of that
Closing from any guarantees or indemnities (other than any guarantee or
indemnity which is an Assumed Liability) given by or binding upon the Group
Company in respect of any liability of the Sellers or any other member of the
VIA Group or any Group Company in respect of which Closing has not yet taken
place. Pending such release, the Sellers shall indemnify the Relevant
Purchasers and any such Group Companies against all amounts paid by any such
Group Company pursuant to any such securities, guarantees and indemnities in
respect of such liability of the Sellers or any member of the VIA Group or any
Group Company in respect of which Closing has not yet taken place.

 

PART B

 

VIA
CASH COLLATERALIZED GUARANTEES:

 

With
respect to the restricted cash account of VIA NET.WORKS, Inc. and
guarantee issued by ING Bank N.V. dated 20/12/2004 in the amount of €200,000 to
the credit of VIA NET.WORKS, Inc. in favour of STEAG Energie-Contracting
GmbH (“STEAG”) and for the benefit of PSINet Datacenter Germany GmbH concerning
the office and Datacenter at Paul-Stern-Str. 63 in Berlin (“VIA STEAG Guarantee”):

 

The
Sellers shall use their reasonable endeavours to procure on or prior to Second
Closing the release and replacement of that certain guarantee and restricted
cash account of VIA Inc in the amount of €200,000 in favour of STEAG. If the
Sellers have not caused a Group Company to do so prior to Second Closing, so
long as the guarantee and restricted cash account of VIA Inc remains
outstanding the Relevant Purchasers shall indemnify the Sellers against all amounts
paid by VIA Inc. arising out of the VIA STEAG Guarantee.

 

VIA
GUARANTEES (NON-CASH COLLATERALIZED):

 

The
Relevant Purchasers shall use their reasonable endeavours to procure on or as
soon as reasonably practicable following each Closing the release of each
relevant member of the VIA Group from the guarantees or indemnities given by or
binding upon any member of the VIA Group in respect of any liability of the
Group Companies which are the subject of that Closing including without
limitation those set out below. Pending such release, the Relevant Purchasers
shall indemnify the Sellers against all amounts paid by any member of the VIA
Group pursuant to any such securities, guarantees and indemnities in respect of
such liability of such Group Companies.

 

(a)                                              Guaranty
from VIA Inc dated 21 May 2004 in favour of Schuberg Philis B.V. in
respect of the obligations of VIA NET.WORKS Europe Holding B.V. under the
Master Services Agreement with Schuberg Philis dated 19 May 2004.

 

(b)                                             Guarantee
from VIA Inc dated 10 December 2004 in favour of Metrolinx Sarl in respect
of the obligations of PSINet Switzerland Sarl under the lease agreement dated
17 October 2003.

 

(c)                                              Declaration
dated as of 1 April 2005 in favour of VIA NET.WORKS (Schweiz) A.G. in
relation to the Amendment Number Three and the related existing agreements
between PSINet Switzerland Sarl and TDC Switzerland AG dated 29 December 2004,
with guarantees extended by VIA Inc. and VIA NET.WORKS Europe Holding B.V.

 

82

 

(d)                                             Amendment
Number Three between PSINet Switzerland Sarl and TDC Switzerland AG dated 29 December 2004

 

(e)                                              Indemnity
from VIA NET.WORKS Holdco, Inc. in favour of Alfa Accountants in respect
of claims from the Dutch treasury and the UWV arising out of the agreement of
PSINet Netherlands BV to provide certain hosting services to Alfa Accountants.

 

(f)                                                Guarantee,
indemnity and/or joint liability by VIA Inc. of obligations of Group Companies
arising under agreements between VIA Inc and each of the following entities: (i) (i) Watchguard
Technologies, Inc., (ii) GRIC Communications, Inc. and (iii) Melbourne
IT Ltd. (IMWW), which shall be released upon novation or assignment of the
agreements pursuant to Clause 2.3.1(iv) and Schedule 3 of this
Agreement.

 

VIA
SUPPORT AND COMFORT LETTERS

 

At
the Closing, in relation to the relevant Group Company, the Relevant Purchasers
shall deliver a letter of support to the directors of

 

VIA
NET.WORKS France SAS,

 

VIA
NET.WORKS France Holding SA,

 

PSINet
Germany GmbH

 

PSINet
Datacenter Germany GmbH

 

VIA
NET.WORKS Deutschland GmbH

 

PSINet
Switzerland Sarl

 

VIA
NET.WORKS Espana S.L.

 

in
respect of the present and future liabilities of those companies in replacement
and substitution of letters of support and comfort from the Relevant Sellers.

 

83

 

Schedule 10

 

Part A—Repayable
Intra-Group Payables

 

	
  A Group Company owing
  Payable

  	
   

  	
  B Group Company to whom Payable is owed

  	
   

  	
  Amount of

  Payable

  (in USD)

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  PSINet Switzerland Sarl

  	
   

  	
  180,645

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS Deutsche
  Holding GmbH

  	
   

  	
  135,986

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS France SA

  	
   

  	
  82,634

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS UK
  Holding Ltd

  	
   

  	
  523

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS IRU Co.
  Ltd

  	
   

  	
  327,574

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  PSINet Netherlands B.V.

  	
   

  	
  31,265

  	
   

  
	
  Agence des Medias Numeriques SAS

  	
   

  	
  VIA NET.WORKS France SA

  	
   

  	
  58,320

  	
   

  
	
  Amen Nederland B.V.

  	
   

  	
  PSINet Netherlands B.V.

  	
   

  	
  10,929

  	
   

  
	
  VIA NET.WORKS Portugal—Tecnologias de Informacao, SA

  	
   

  	
  PSINet Switzerland Sarl

  	
   

  	
  93,989

  	
   

  
	
  VIA NET.WORKS Portugal—Tecnologias de Informacao, SA

  	
   

  	
  VIA NET.WORKS France SA

  	
   

  	
  3,894

  	
   

  
	
  VIA NET.WORKS Portugal—Tecnologias de Informacao, SA

  	
   

  	
  VIA NET.WORKS UK Holding
  Ltd

  	
   

  	
  362

  	
   

  
	
  Total
  Repayable Intra-Group Payables:

  	
   

  	
   

  	
   

  	
  926,121

  	
   

  

 

Part B—Repayable
Intra-Group Receivables

 

	
  A Group Company to whom
  Receivable is due

  	
   

  	
  B Group Company owing Receivable

  	
   

  	
  Amount of

  Receivable

  (in USD)

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS Europe
  Holding B.V.

  	
   

  	
  58,293

  	
   

  
	
  VIA NET.WORKS Nederland B.V.

  	
   

  	
  VIA NET.WORKS Express
  B.V.

  	
   

  	
  231,657

  	
   

  
	
  VIA NET.WORKS Portugal—Tecnologias de Informacao, SA

  	
   

  	
  VIA NET.WORKS Deutsche
  Holding GmbH

  	
   

  	
  1,185

  	
   

  
	
  VIA NET.WORKS Portugal—Tecnologias de Informacao, SA

  	
   

  	
  VIA NET.WORKS Espana
  S.L.

  	
   

  	
  23,713

  	
   

  
	
  VIA NET.WORKS USA, Inc.

  	
   

  	
  VIA NET.WORKS Express
  B.V.

  	
   

  	
  38,905

  	
   

  
	
  Total
  Repayable Intra-Group Receivables:

  	
   

  	
   

  	
   

  	
  353,753

  	
   

  

 

84Exhibit 10.2

 

 

$2,500,000

 

FACILITY
AGREEMENT

 

 

dated 30 April 2005

 

 

for

 

 

VIA NET.WORKS, INC.

as Borrower

 

 

with

 

 

CLARA.NET HOLDINGS LIMITED

acting as Lender

 

 

as amended and restated by an 

amendment and restatement agreement

dated    July 2005

 

 

 

Ref: NYN

 

 

CONTENTS

 

	
  CLAUSE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SECTION 1

  INTERPRETATION

  	
   

  
	
  1.

  	
  Definitions and interpretation

  	
   

  
	
   

  	
  SECTION 2

  THE FACILITY

  	
   

  
	
  2.

  	
  The Facility

  	
   

  
	
  3.

  	
  Purpose

  	
   

  
	
  4.

  	
  Conditions of Utilisation

  	
   

  
	
   

  	
  SECTION 3

  UTILISATION

  	
   

  
	
  5.

  	
  Utilisation

  	
   

  
	
   

  	
  SECTION 4

  REPAYMENT, PREPAYMENT AND CANCELLATION

  	
   

  
	
  6.

  	
  Repayment

  	
   

  
	
  7.

  	
  Prepayment and cancellation

  	
   

  
	
   

  	
  SECTION 5

  COSTS OF UTILISATION

  	
   

  
	
  8.

  	
  Interest

  	
   

  
	
  9.

  	
  Fees

  	
   

  
	
   

  	
  SECTION 6

  ADDITIONAL PAYMENT OBLIGATIONS

  	
   

  
	
  10.

  	
  Tax gross up and indemnities

  	
   

  
	
  11.

  	
  Other indemnities

  	
   

  
	
  12.

  	
  Enforcement costs

  	
   

  
	
   

  	
  SECTION 7

  REPRESENTATIONS AND UNDERTAKINGS

  	
   

  
	
  13.

  	
  Representations

  	
   

  
	
  14.

  	
  Operational Undertakings

  	
   

  
	
  15.

  	
  Margin regulation
  undertakings

  	
   

  
	
   

  	
  SECTION 8

  ACCELERATION

  	
   

  
	
  16.

  	
  Acceleration

  	
   

  
	
   

  	
  SECTION 9

  MISCELLANEOUS

  	
   

  
	
  17.

  	
  Changes to the Parties

  	
   

  
	
  18.

  	
  No set-off by the Borrower

  	
   

  
	
  19.

  	
  Business Days

  	
   

  
	
  20.

  	
  Currency of account

  	
   

  
	
  21.

  	
  Set-off

  	
   

  
	
  22.

  	
  Limitation of liability

  	
   

  
	
  23.

  	
  Notices

  	
   

  
	
  24.

  	
  Partial invalidity

  	
   

  
	
  25.

  	
  Remedies and waivers

  	
   

  

 

 

	
  26.

  	
  Amendments and waivers

  	
   

  
	
  27.

  	
  Counterparts

  	
   

  
	
   

  	
  SECTION 10

  GOVERNING LAW AND ENFORCEMENT

  	
   

  
	
  28.

  	
  Governing law

  	
   

  
	
  29.

  	
  Enforcement

  	
   

  

 

 

THIS AGREEMENT
is dated 30 April 2005 and amended and restated by an amendment and
restatement agreement dated   July 2005, and made between:

 

(1)                                  VIA NET.WORKS, INC. as borrower (the “Borrower”);
and

 

(2)                                  CLARA.NET HOLDINGS LIMITED as lender (the “Lender”).

 

IT IS AGREED
as follows:

 

SECTION 1

 

INTERPRETATION

 

1.                                       Definitions and interpretation

 

1.1                                 Definitions

 

Unless a contrary indication appears herein, all terms in this
Agreement shall have the same definition and construction as in the Acquisition
Agreement, and:

 

“Amendment Agreement”
means the amendment and restatement agreement dated 11 July 2005
between the Borrower and the Lender amending and restating this Agreement.

 

“Acquisition Agreement”
means the sale and purchase agreement dated on or about the date of this
Agreement between the Obligors, Clara.net Holdings Limited and Claranet Group
Limited relating to the operating subsidiaries and certain assets and
liabilities of the Obligors, as amended and restated by an amendment and
restatement agreement dated    July 2005.

 

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

 

“Available Commitment” means the Current
Commitment minus:

 

(a)                                  the USD Amount of any outstanding Loans; and

 

(b)                                 in relation to any proposed Utilisation, the USD Amount of any Loans
that are due to be made on or before the proposed Utilisation Date.

 

“Availability Period” means the period
from and including 1 August 2005 to and including the day immediately
before the Termination Date.

 

“Belgian Share Pledge”
means the Share Pledge Agreement in respect of the shares of PSINet Belgium
BVBA/SPRL granted by the Pledgor to the Lender dated 10 May 2005.

 

“Board” means the Board of Governors of
the Federal Reserve System of the US (or any successor).

 

“Borrower Termination”
means the termination of the Acquisition Agreement by the Borrower pursuant to
clause 5.5.4 of the Acquisition Agreement.

 

“Break Costs” means the amount (if any)
by which:

 

1

 

(a)                                  the interest which the Lender should have received for the period
from the date of receipt of all or any part of a Loan to the Termination Date
in respect of that Loan, had the principal amount received been paid on the
Termination Date;

 

exceeds:

 

(b)                                 the amount which the Lender would be able to obtain by placing an
amount equal to the principal amount received by it on deposit with a leading
bank in London for a period starting on the Business Day following receipt or
recovery and ending on the Termination Date.

 

“Business Day” means a day (other than a
Saturday or Sunday) on which banks are open for general business in London and
Amsterdam.

 

“Commitment” means the Current
Commitment at the time and at all times thereafter (which shall at no time
exceed $2,500,000), to the extent not cancelled or reduced under this
Agreement.

 

“Commitment Fees” means
all commitment fees payable by the Borrower in accordance with Clause 9.1 (Commitment fee).

 

“Current Commitment” means, to the
extent not reduced or cancelled under this Agreement:

 

(a)                                  From and including 1 August 2005 to and including 14 August 2005,
$400,000;

 

(b)                                 From and including 15 August 2005 to and including 29 August 2005,
$1,400,000; and

 

(c)                                  From and including 30 August 2005 to and including the day
immediately before the Termination Date, $2,500,000 less the Schuberg Reserve.

 

“Dutch Share Pledge” means the Right of Pledge in respect of the
shares of PSINet Netherlands B.V. granted by the Pledgor to the Lender dated 10
May 2005.

 

“Facility” means the term loan facility
made available under this Agreement as described in Clause 2 (The Facility).

 

“Finance Document” means this Agreement,
the Amendment Agreement, any Security Document and any other document
designated as such by the Lender and the Borrower.

 

“French Share Pledge”
means the Financial Instruments Account Pledge Agreement (Convention de
Nantissement De Compte D’Instruments Financiers) in respect of the shares of
Agence des Médias Numériques S.A.S. granted by the Pledgor to the Lender dated
10 May 2005.

 

“German Share Pledge”
means the Share Pledge Agreement (Geschäftsanteilsverpfändung) in respect of
the shares of PSINet Germany GmbH, granted by the Pledgor to the Lender dated
10 May 2005.

 

“Historic Loans” means all
amounts owing by the Borrower to
the Lender immediately prior to the date of the Amendment Agreement under the
terms of the Original Facility Agreement, except for the arrangement fee
described in clause 9 (Arrangement fees)
of the Original Facility Agreement.

 

2

 

“Loan” means a loan made or to be made
under the Facility or the principal amount outstanding for the time being of
that loan.

 

“Loan Account” means a
segregated account of the Lender at RBS.

 

“Margin Stock” means margin stock or
margin security within the meaning of Regulation T, U or X.

 

“New Dutch Share Pledge”
means the Right of Pledge in
respect of the shares of PSINet Netherlands B.V. granted by the Pledgor to the
Lender on or about the date of the Amendment Agreement.

 

“New German Share Pledge”
means the Share Pledge Agreement (Geschäftsanteilsverpfändung) in respect of
the shares of PSINet Germany GmbH, granted by the Pledgor to the Lender on or
about the date of the Amendment Agreement.

 

“New Share Pledges” means
the Dutch Share Pledge and the German Share Pledge.

 

“Obligor” means the Borrower or the
Pledgor.

 

“Original Facility Agreement”
means this Agreement prior to amendment and restatement by the Amendment
Agreement.

 

“Overall Commitment” means
$2,500,000 minus the USD Amount of any outstanding Loans.

 

“Party” means a party to this Agreement.

 

“Pledged Companies” means
collectively each of PSINet Netherlands B.V., PSINet Belgium BVBA/SPRL, PSINet
Germany GmbH and (until the First Closing Date) Agence des Médias Numériques
S.A.S., and “Pledged Company”
means any one of them.

 

“Pledgor” means VIA
NET.WORKS Holdco, Inc..

 

“RBS” means The Royal Bank
of Scotland plc.

 

“Regulation T”, “Regulation U”
or “Regulation X” means Regulation T, U or,
as the case may be, X of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof.

 

“Repayment Date” means the
earlier of the Termination Date and the date any Loan is accelerated pursuant
to Clause 16 (Acceleration).

 

“Repeating Representations” means each
of the representations set out in Clauses 13.1 (Status)
to 13.4 (Power and authority), 13.6 (Governing law and enforcement) and 13.7 (Pari passu ranking) to 13.10 (US regulation representations).

 

“Schuberg Agreement” means
the managed services agreement by and among VIA Nederland, PSINet Netherlands
B.V. and Schuberg Philis B.V. dated 21 May 2004, as amended on 24 March 2005.

 

“Schuberg Deemed Borrowing”
means the amount deemed to be owed by the Borrower to the Lender under Clause
6.3 (Schuberg Deemed Borrowing).

 

3

 

“Schuberg Payments” means
the payments in the region of €62,000 per month payable by VIA Nederland to
Schuberg Philis B.V. under the Schuberg Agreement in respect of each of July 2005
and August 2005.

 

“Schuberg Reserve” means:

 

(a)                                  at
all times prior to the Schuberg Release Date, an amount equal to $562,419; and

 

(b)                                 on
and at all times after the Schuberg Release Date, $0

 

in each case plus an amount equal to the aggregate of any amounts that
the Borrower fails to pay to Via Nederland pursuant to Clause 14(b) (Operational Undertakings).

 

“Schuberg Release Date” means the date
on which Borrower provides evidence in writing reasonably satisfactory to
Lender that:

 

(a)                                  VIA Nederland and PSINet Netherlands B.V. are entitled to terminate
the Schuberg Agreement at any time on or after 1 October 2005; and

 

(b)                                 the obligations under the Schuberg Agreement of VIA Nederland and
PSINet Netherlands B.V. in connection with such termination are limited to the
payment of the termination fees set out in clause 8.5 of the Schuberg Agreement
(and in particular exclude liability to make any payment in respect of the
monthly payments that would otherwise be due to Schuberg Philis B.V. under the
Schuberg Agreement for the period from the date of such termination to June 2006).

 

“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 Document” means
any of:

 

(a)                                  the French Share Pledge;

 

(b)                                 the German Share Pledge;

 

(c)                                  the Dutch Share Pledge;

 

(d)                                 the Belgian Share Pledge;

 

(e)                                  the New Dutch Share Pledge;

 

(f)                                    the New German Share Pledge; and

 

(g)                                 any other document that may at any time be designated as such by the
Lender and the Borrower.

 

“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).

 

“Termination Date” means the date which
is the earlier of the Second Closing Date and 9 September 2005.

 

“Unpaid Sum” means any sum due and
payable but unpaid by any Obligor under the Finance Documents.

 

4

 

“US” or “United
States” means the United States of America.

 

“US Bankruptcy Law” means the United
States Bankruptcy Code of 1978, as amended, or any other United States federal
or state bankruptcy, liquidation, receivership, moratorium, conservatorship,
assignment for the benefit of creditors, insolvency or similar law for the
relief of debtors.

 

“USD” or “$” means United States Dollars.

 

“USD Amount” means, in
relation to a Loan, the amount specified in the Utilisation Request delivered
by the Borrower for that Loan.

 

“US Insolvency Event” means any of the following in respect of the Borrower:

 

(a)                                  it makes a general assignment for the benefit of creditors;

 

(b)                                 it commences a voluntary case or proceeding under any US Bankruptcy
Law;

 

(c)                                  an involuntary proceeding under any US Bankruptcy Law is commenced
against it and is not challenged by appropriate means within ten (10) days
and is not dismissed or stayed within sixty (60) days after commencement of
such case;

 

(d)                                 a custodian, conservator, receiver, liquidator, assignee, trustee,
sequestrator or other similar official is appointed under any US Bankruptcy Law
for, or takes charge of, all or a substantial part of the property of the
Borrower or any other VIA Group Company; or

 

(e)                                  any corporate action is taken by the Borrower or any other VIA Group
Company for the purpose of effecting any of the foregoing.

 

“Utilisation” means a utilisation of the
Facility.

 

“Utilisation Date” means the date of a
Utilisation, being the date on which the relevant Loan is to be made.

 

“Utilisation Request” means a notice
substantially in the form set out in Schedule 2 (Utilisation Request).

 

“VAT” means value added tax as provided
for in the United Kingdom Value Added Tax Act 1994 and any other tax of a
similar nature.

 

“VIA Group Companies”
means collectively the Obligors and the Group Companies and “VIA Group Company” means any of them.

 

“VIA Termination Event”
means any of:

 

(a)                                  the Lender becoming entitled to terminate the Acquisition Agreement
under clause 5.5 or clause 6.7.1 of the Acquisition Agreement;

 

(b)                                 a material failure by an Obligor to comply with any provision of the
Finance Documents;

 

(c)                                  it being or becoming unlawful for an Obligor to perform any of its
obligations under the Finance Documents; or

 

(d)                                 any Security Document, once entered into and save to the extent
released pursuant to the terms of the Acquisition Agreement and/or the Finance
Documents, being not in full

 

5

 

force and
effect or not creating in favour of the Lender the Security which it is
expressed to create with the ranking and priority it is expressed to have.

 

1.2                                 Construction

 

(a)                                  Unless a contrary indication appears, any reference in this
Agreement to:

 

(i)                                     the “Lender” shall be
construed so as to include its successors in title, permitted assigns and
permitted transferees;

 

(ii)                                  “assets” includes present and
future properties, revenues and rights of every description;

 

(iii)                               a “Finance Document” or any other
agreement or instrument is a reference to that Finance Document or other
agreement or instrument as amended or novated;

 

(iv)                              “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;

 

(v)                                 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;

 

(vi)                              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

 

(vii)                           a provision of law is a reference to that provision as amended or
re-enacted.

 

(b)                                 Section, Clause and Schedule headings are for ease of reference
only, and a reference to a “Section”,  “Clause”
or “Schedule” shall be a reference
to a section, clause or schedule respectively of this Agreement.

 

(c)                                  Unless a contrary indication appears, a term used in any other
Finance Document or in any notice given under or in connection with any Finance
Document has the same meaning in that Finance Document or that notice as in
this Agreement.

 

1.3                                 Third party rights

 

A person who is not a Party has no right under the United Kingdom
Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit
of any term of this Agreement, save that each of the Purchasers and the Sellers
may enforce Clause 21(b) (Set-off)
as if it were a party to this Agreement.

 

6

 

SECTION 2

 

THE FACILITY

 

2.                                       The Facility

 

2.1                                 The Facility

 

Subject to the terms of this Agreement, the Lender makes available to
the Borrower a term loan facility in an amount equal to the Commitment.

 

2.2                                 Repayment of Historic Loans

 

(a)                                  The Borrower shall repay the Historic Loans on the First Closing
Date.

 

(b)                                 The Historic Loans shall, until they are repaid, continue to accrue
interest (payable on the First Closing Date) in accordance with the terms of
the Original Facility Agreement.

 

3.                                       Purpose

 

3.1                                 Purpose

 

The Borrower shall apply all amounts borrowed by it under the Facility
towards funding the VIA Group Companies’ working capital requirements in a
manner consistent with the Working Capital Projections.

 

3.2                                 Monitoring

 

Without prejudice to its rights under this Agreement, the Lender is not
bound to monitor or verify the application of any amount borrowed pursuant to
this Agreement.

 

4.                                       Conditions of Utilisation

 

4.1                                 Initial conditions precedent

 

(a)                                  The Borrower may not deliver a Utilisation Request unless the Lender
has received all of the documents and other evidence listed in Schedule 1
(Conditions precedent) in form and
substance reasonably satisfactory to the Lender. The Lender shall notify the
Borrower promptly in writing upon being so satisfied.

 

(b)                                 The Borrower will procure that the conditions precedent are
satisfied as soon as practicable on or after the date of this Agreement.

 

4.2                                 Further conditions precedent

 

The Lender will only be obliged to comply with Clause 5.4 (Availability of Loans) if on the date of the relevant
Utilisation Request and on the proposed Utilisation Date:

 

(a)                                  no VIA Termination Event or Borrower Termination has occurred or
would result from the proposed Loan; and

 

(b)                                 the Repeating Representations to be made by the Borrower are true in
all material respects.

 

7

 

SECTION 3

 

UTILISATION

 

5.                                       Utilisation

 

5.1                                 Delivery of a Utilisation Request

 

The Borrower may utilise the Facility by delivery to the Lender of a
duly completed Utilisation Request not later than five (5), and no earlier
than seven (7), Business Days before the Utilisation Date.

 

5.2                                 Completion of a Utilisation Request

 

(a)                                  Each Utilisation Request is irrevocable and will not be regarded as
having been duly completed unless:

 

(i)                                     the proposed Utilisation Date falls within the Availability Period;

 

(ii)                                  the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and

 

(iii)                               it specifies the account and bank (which must be in London or
Amsterdam) to which the proceeds of the Utilisation are to be credited.

 

(b)                                 Only one (1) Loan may be requested in each Utilisation Request.

 

(c)                                  The Borrower shall use reasonable endeavours to furnish promptly any
further details and explanations reasonably requested by the Lender in respect
of any Utilisation Request, or the assumptions underlying the same.

 

5.3                                 Currency and amount

 

(a)                                  The currency specified in a Utilisation Request must be USD.

 

(b)                                 The amount of the proposed Loan must be less than or equal to the
Available Commitment

 

5.4                                 Availability of Loans

 

If the conditions set out in this Agreement have been met, the Lender
shall make each Loan available by the Utilisation Date by:

 

(i)                                     preparing an instruction to RBS to transfer to the Borrower an
amount equal to USD Amount of the Loan;

 

(ii)                                  signing such instruction and presenting it to the Borrower for
co-signature; and

 

(iii)                               delivering the signed instruction to RBS,

 

provided the Lender shall not be obliged to make the Loan available by
the Utilisation Date if the Borrower fails to co-sign the relevant instruction
in time for the transfer to be completed by the Utilisation Date.

 

5.5                           Maintenance of Loan Account

 

(a)                            The Lender shall fund into the Loan Account no later than the first
day of the Availability Period an amount in USD equal to the Commitment.

 

8

 

(b)                                 The Lender shall deliver to RBS, no later than the first day of the
Availability Period, an instruction, expressed to be irrevocable, that RBS is:

 

(i)                                     prior to 9 October 2005, not to permit transfers or withdrawals
out of the Loan Account unless in receipt of an instruction signed by both the
Lender and the Borrower; and

 

(ii)                                  on and after 9 October 2005, to deal with the entire balance of
the Loan Account in accordance with the instructions of the Lender solely.

 

(c)                                  The Lender shall, at the Borrower’s reasonable request, provide
evidence reasonably satisfactory to the Borrower as to the Lender’s compliance
with this Clause 5.5.

 

9

 

SECTION 4

 

REPAYMENT, PREPAYMENT AND CANCELLATION

 

6.                                       Repayment

 

6.1                                 Repayment of Loans

 

Subject to Clause 6.4 (Waiver upon
Clara.net breach), the Borrower shall repay each Loan,
together with accrued interest and Commitment Fees, on the Termination Date.

 

6.2                                 Reborrowing

 

The Borrower may not reborrow any part of the Facility which is repaid.

 

6.3                                 Schuberg Deemed Borrowing

 

Subject to Clause 6.4 (Waiver upon
Clara.net breach), the
Borrower shall be deemed to owe to the Lender an amount equal to the Schuberg
Reserve, and shall be repay such amount to the Lender on the Termination Date.

 

6.4                                 Waiver upon Clara.net breach

 

The Borrower shall not be obliged to repay or prepay any Loan
(excluding any interest or fee accrued or compounded thereon other than the
arrangement fee referred to in Clause 9.2 (Arrangement
fee)) or Schuberg Deemed Borrowing, and such Loan or Schuberg Deemed
Borrowing shall be deemed to cease to be outstanding, if, prior to the
occurrence of a Via Termination Event, the Purchasers have failed to proceed to
Second Closing in breach of the Acquisition Agreement.

 

7.                                       Prepayment and cancellation

 

7.1                                 Mandatory prepayment and cancellation

 

Subject to Clause 6.4 (Waiver upon Clara.net
breach), if it becomes unlawful in any applicable jurisdiction for
the Lender to perform any of its obligations as contemplated by this Agreement
or to fund or maintain any Loan:

 

(i)                                     the Lender shall promptly notify the Borrower upon becoming aware of
that event;

 

(ii)                                  upon the Lender notifying the Borrower, the Commitment will be
immediately cancelled; and

 

(iii)                               the Borrower shall repay the Loans and the Schuberg Deemed
Borrowing, together with accrued interest and Commitment Fees, on the date
specified by the Lender in the notice delivered to the Borrower (being no
earlier than fifteen (15) Business Days from the date of such notice or the
last day of any applicable grace period permitted by law, whichever is later).

 

7.2                                 Voluntary prepayment

 

(a)                                  The Borrower may, if it gives the Lender not less than five (5) Business
Days’ prior notice, prepay the whole or any part of any Loan (but, if in part,
being an amount that reduces the USD Amount of the Loan by a minimum amount of
$50,000).

 

10

 

(b)                                 The Borrower shall, within three (3) Business Days of demand by
the Lender, pay to the Lender its Break Costs attributable to all or any part
of the Loan prepaid by the Borrower pursuant to paragraph (a) above.

 

7.3                                 Restrictions

 

(a)                                  Any notice of cancellation or prepayment given by any Party under
this Clause 7 shall be irrevocable and, unless a contrary indication appears in
this Agreement, shall specify the date or dates upon which the relevant
cancellation or prepayment is to be made and the amount of that cancellation or
prepayment.

 

(b)                                 Any prepayment under this Agreement shall be made together with
accrued interest on the amount prepaid and, subject to any Break Costs in the
case of a prepayment under Clause 7.2 (Voluntary
prepayment) only, without premium or penalty.

 

(c)                                  The Borrower may not reborrow any part of the Facility which is
prepaid, and accordingly the Commitment in respect of that part of the Facility
which is prepaid shall be deemed to have been cancelled, provided, for the
avoidance of doubt, that the repayment of the Historic Loans shall not affect
the amount of the Commitment under this Agreement.

 

(d)                                 The Borrower shall not repay or prepay all or any part of the Loans
or cancel all or any part of the Commitment except at the times and in the
manner expressly provided for in this Agreement.

 

(e)                                  No amount of the Commitment cancelled under this Agreement may be
subsequently reinstated.

 

11

 

SECTION 5

 

COSTS OF UTILISATION

 

8.                                       Interest

 

8.1                                 Accrual

 

(a)                                  Interest shall accrue daily on each Loan (but not the Schuberg
Deemed Borrowing) at the rate of 12.00 per cent per annum.

 

(b)                                 Any interest accruing under paragraph (a) above shall be
compounded daily (and shall thereafter itself bear interest at the rate set out
in paragraph (a) above) and shall be payable in accordance with Clause 6 (Repayment), Clause 7 (Prepayment and cancellation) and Clause 16
(Acceleration).

 

8.2                                 Default interest

 

(a)                                  Interest shall accrue on any Unpaid Sum from the due date up to the
date of actual payment (both before and after judgment) at a rate which is the
sum of 2.00 per cent. and the rate which would have been payable if the Unpaid
Sum had, during the period of non-payment, constituted a Loan. Any interest
accruing under this Clause 8.2 (Default
Interest) shall be immediately payable by the Borrower on demand by
the Lender.

 

(b)                                 Default interest (if unpaid) arising on an Unpaid Sum will be
compounded with the overdue amount at the end of each day but will remain
immediately due and payable.

 

9.                                       Fees

 

9.1                                 Commitment fee

 

(a)                                  A commitment fee in USD computed at the rate of 12.00 per cent. per
annum on the  Overall Commitment shall
accrue daily during the Availability Period and shall be paid by the Borrower
to the Lender in accordance with paragraph (b) below.

 

(b)                                 The accrued commitment fee under paragraph (a) above shall be
compounded daily (and shall thereafter itself bear interest at the rate set out
in Clause 8.1(a) above) and shall be payable in accordance with Clause 6 (Repayment), Clause 7 (Prepayment and cancellation) and Clause 16
(Acceleration).

 

9.2                                 Arrangement fee

 

If Second Closing has not taken place by the Repayment Date, the
Borrower shall pay to the Lender an arrangement fee of €306,866 on the
Repayment Date.  For the avoidance of
doubt, no such amount shall be payable if Second Closing occurs on or prior to
the Repayment Date.

 

12

 

SECTION 6

 

ADDITIONAL PAYMENT OBLIGATIONS

 

10.                                 Tax gross up and indemnities

 

10.1                           Definitions

 

(a)                                  In this Agreement:

 

“Tax Credit” means a credit against,
relief or remission for, or repayment of any Tax.

 

“Tax Deduction” means a deduction or withholding
for or on account of Tax from a payment under a Finance Document.

 

“Tax Payment” means either the increase
in a payment made by the Borrower to the Lender under Clause 10.2 (Tax gross-up) or a payment under Clause 10.3 (Tax indemnity).

 

(b)                                 Unless a contrary indication appears, in this Clause 10 a reference
to “determines” or “determined” means a determination made in the absolute
discretion of the person making the determination.

 

10.2                           Tax gross-up

 

(a)                                  The Borrower shall make all payments to be made by it under the
Finance Documents without any Tax Deduction, unless a Tax Deduction is required
by law.

 

(b)                                 The Borrower shall promptly upon becoming aware that it must make a
Tax Deduction (or that there is any change in the rate or the basis of a Tax
Deduction) notify the Lender accordingly.

 

(c)                                  If a Tax Deduction is required by law to be made by the Borrower,
the amount of the payment due from the Borrower shall be increased to an amount
which (after making any Tax Deduction) leaves an amount equal to the payment
which would have been due if no Tax Deduction had been required.

 

(d)                                 If the Borrower is required to make a Tax Deduction, the Borrower
shall make that Tax Deduction and any payment required in connection with that
Tax Deduction within the time allowed and in the minimum amount required by
law.

 

(e)                                  Within thirty (30) days of making either a Tax Deduction or any
payment required in connection with that Tax Deduction, the Borrower shall
deliver to the Lender evidence reasonably satisfactory to the Lender that the
Tax Deduction has been made or (as applicable) any appropriate payment paid to
the relevant taxing authority.

 

10.3                           Tax indemnity

 

(a)                                  If the Lender is or will be subject to any liability, or required to
make any payment, for or on account of Tax in relation to a sum received or
receivable (or any sum deemed for the purposes of Tax to be received or
receivable) under a Finance Document, then the Borrower shall (within three (3) Business
Days of demand by the Lender) pay to the Lender an amount equal to the loss,
liability or cost which the Lender determines will be or has been (directly or
indirectly) suffered for or on account of Tax by it in respect of a Finance
Document.

 

(b)                                 Paragraph (a) above shall not apply:

 

13

 

(i)                                     with respect to any Tax assessed on the Lender under the law of the
jurisdiction in which the Lender is incorporated or, if different, the
jurisdiction (or jurisdictions) in which the Lender is treated as resident for tax
purposes if that Tax is imposed on or calculated by reference to the net income
received or receivable (but not any sum deemed to be received or receivable) by
the Lender; or

 

(ii)                                  to the extent a loss, liability or cost is compensated for by an
increased payment under Clause 10.2 (Tax
gross-up).

 

(c)                                  If the Lender makes, or intends to make, a claim under paragraph (a) above,
it shall promptly notify the Borrower of the event which will give, or has
given, rise to the claim.

 

10.4                           Stamp taxes

 

The Borrower shall pay and, within three (3) Business Days of
demand, indemnify the Lender against any cost, loss or liability the Lender
incurs in relation to all stamp duty, registration and other similar Taxes
payable in respect of any Finance Document.

 

10.5                           Value added tax

 

(a)                                  All consideration expressed to be payable under a Finance Document
by the Borrower to the Lender shall be deemed to be exclusive of any VAT. If
VAT is chargeable on any supply made by the Lender to any Party in connection
with a Finance Document, the Borrower shall pay to the Lender (in addition to
and at the same time as paying the consideration) an amount equal to the amount
of the VAT.

 

(b)                                 Where a Finance Document requires the Borrower to reimburse the
Lender for any costs or expenses, the Borrower shall also at the same time pay
and indemnify the Lender against all VAT incurred by the Lender in respect of
the costs or expenses.

 

11.                                 Other indemnities

 

11.1                           Currency indemnity

 

(a)                                  If any sum due from the Borrower under the Finance Documents (a “Sum”), or any order, judgment or award given or made in
relation to a Sum, has to be converted from the currency (the “First Currency”) in which that Sum is payable into another
currency (the “Second Currency”) for the purpose
of:

 

(i)                                     making or filing a claim or proof against the Borrower; or

 

(ii)                                  obtaining or enforcing an order, judgment or award in relation to
any litigation or arbitration proceedings,

 

the Borrower shall as an independent obligation, within three (3) Business
Days of demand, indemnify the Lender against any cost, loss or liability
arising out of or as a result of the conversion including any discrepancy
between (A) the rate of exchange used to convert that Sum from the First
Currency into the Second Currency and (B) the rate or rates of exchange
available to that person at the time of its receipt of that Sum.

 

(b)                                 The Borrower waives any right it may have in any jurisdiction to pay
any amount under the Finance Documents in a currency or currency unit other
than that in which it is expressed to be payable.

 

14

 

11.2                           Other indemnities

 

The Borrower shall, within three (3) Business Days of demand,
indemnify the Lender against any cost, loss or liability incurred by the Lender
as a result of:

 

(i)                                     a failure by the Borrower to pay any amount due under a Finance
Document on its due date; or

 

(ii)                                  funding, or making arrangements to fund, a Loan requested by the
Borrower in a Utilisation Request but not made by reason of the operation of any
one or more of the provisions of this Agreement (other than by reason of
default or negligence by the Lender alone).

 

12.                                 Enforcement costs

 

The Borrower shall, within three (3) Business Days of demand, pay
to the Lender the amount of all costs and expenses (including legal fees)
reasonably incurred by the Lender in connection with the enforcement of, or the
preservation of any rights under, any Finance Document.

 

15

 

SECTION 7

 

REPRESENTATIONS
AND UNDERTAKINGS

 

13.                                 Representations

 

The Borrower makes the representations and warranties set out in this
Clause 13 to the Lender on the date of this Agreement.

 

13.1                           Status

 

(a)                                  Each Obligor is a corporation, duly incorporated and validly
existing under the law of its jurisdiction of incorporation.

 

(b)                                 It and each other VIA Group Company has the power to own its assets
and carry on its business as it is being conducted.

 

13.2                           Binding obligations

 

The obligations expressed to be assumed by each Obligor in each Finance
Document are legal, valid, binding and enforceable obligations.

 

13.3                           Non-conflict with other obligations

 

The entry into and performance by each Obligor of, and the transactions
contemplated by, the Finance Documents do not and will not conflict with:

 

(i)                                     any law or regulation applicable to it;

 

(ii)                                  its or any other VIA Group Company’s constitutional documents; or

 

(iii)                               any agreement or instrument binding upon it or any other VIA Group
Company or any of its or any other VIA Group Company’s assets;

 

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

 

13.4                           Power and authority

 

Each Obligor 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 Finance Documents to which it is a party and the transactions
contemplated by those Finance Documents.

 

13.5                           Validity and admissibility in evidence

 

All Authorisations required or desirable:

 

(i)                                     to enable each Obligor lawfully to enter into, exercise its rights
and comply with its obligations in the Finance Documents to which it is a
party; and

 

(ii)                                  to make the Finance Documents to which an Obligor is a party
admissible in evidence in its jurisdiction of incorporation,

 

have been obtained or effected and are in full force and effect.

 

13.6                           Governing law and enforcement

 

(a)                                  The choice of English law as the governing law of this Agreement
will be recognised and enforced in its jurisdiction of incorporation.

 

16

 

(b)                                 Any judgment obtained in England in relation to a Finance Document
will be recognised and enforced in its jurisdiction of incorporation.

 

13.7                           Pari passu ranking

 

Each Obligor’s payment obligations under the Finance 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 generally.

 

13.8                           Pledged shares

 

(a)                                  The shares which are expressed to be subject to any Security under
any Security Document are issued, fully paid, non-assessable, solely owned by
the Pledgor, free of all Encumbrances other than the Security created under the
Security Documents, and freely transferable and pledgeable, and there are no
moneys or liabilities outstanding or payable in respect of any such share.

 

(b)                                 No person has or is entitled to any conditional or unconditional
option, warrant or other right to call for the issue or allotment of, subscribe
for, purchase or otherwise acquire any share capital of any Pledged Company
(including any right of pre-emption, conversion or exchange).

 

(c)                                  There are no agreements in force or corporate resolutions passed
which require or might require the present or future issue or allotment of any
share capital of any Pledged Company (including any option or right of
pre-emption, conversion or exchange).

 

(d)                                 The shares subject to the Security created by the Security Documents
constitute all of the issued share capital of the Pledged Companies and there are no depository receipts issued
with the cooperation of the Pledged Company.

 

(e)                                  There are no silent partnership agreements, profit and loss pooling
agreements or equivalent arrangements by which a third party is entitled to a
participation in the profits or revenue of a Pledged Company.

 

13.9                           Margin regulation representations

 

(i)                                     No Obligor is engaged principally, or as one of its important
activities, in the business of owning or extending credit for the purpose of
purchasing or carrying any Margin Stock.

 

(ii)                                  The proceeds of the Loans will not be used, directly or indirectly,
in whole or in part, for “purchasing” or “carrying” Margin Stock or for any
purpose which might (whether immediately, incidentally or ultimately) cause all
or any part of the Loans to be a “purpose credit” within the meaning of
Regulation U or Regulation X.

 

(iii)                               Neither an Obligor nor any agent acting on its behalf has taken or
will take any action which might cause any Finance Document or any document
delivered under or in connection with any Finance Document to violate any
regulation of the Board (including Regulation T, U or X) or violate the United
States Securities Exchange Act of 1934 or any applicable US federal or state securities
law.

 

13.10                     US regulation representations

 

No Obligor is or (in the case of paragraph (v) below) has:

 

17

 

(i)                                     a “holding company”, an “affiliate” of a “holding company” or a “subsidiary
company” of a “holding company” within the meaning of, or subject to regulation
under, the United States Public Utility Holding Company Act of 1935;

 

(ii)                                  a “public utility” within the meaning of, or subject to regulation
under, the United States Federal Power Act of 1920;

 

(iii)                               an “investment company” or a company “controlled” by an “investment
company” within the meaning of the United States Investment Company Act of
1940;

 

(iv)                              subject to regulation under any United States federal or state law
or regulation that limits its ability to incur or guarantee indebtedness; or

 

(v)                                 used any corporate funds for any unlawful
contribution, gift, entertainment or other unlawful expenses relating to
political activity; made any direct or indirect unlawful payment to any foreign
or domestic government official or employee from corporate funds, or made any
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to
any foreign or domestic government official or employee.

 

13.11                     No breach

 

Each Obligor has complied with all of the provisions of the Finance
Documents that are applicable to it.

 

13.12                     Repetition

 

The Repeating Representations are deemed to
be made by the Borrower by reference to the facts and circumstances then
existing on the date of each Utilisation Request.

 

14.                                 Operational Undertakings

 

(a)                                  The Borrower gives the same undertakings to the Lender as given by
the Sellers to the Purchasers in clause 5.1 (Sellers’
Obligations in Relation to the Operation of the Group) and clause
5.2 (Sellers’ notification requirements)
of the Acquisition Agreement.

 

(b)                                 The Borrower further undertakes to pay to Via Nederland an amount
equal to 80 per cent. of each of the Schuberg Payments, no later than the date
the invoice in respect of the relevant Schuberg Payment becomes due for payment
by Via Nederland.

 

15.                                 Margin
regulation undertakings

 

(a)                                  The Borrower shall use the proceeds of the Loans without violating
Regulation T, U or X or any other applicable US federal or state laws or
regulations.

 

(b)                                 If requested by the Lender and necessary to permit the Lender to
comply with applicable law, the Borrower shall, upon written request, furnish
to the Lender a statement in conformity with the requirements of FR Form U-1
referred to in Regulation U.

 

18

 

SECTION 8

 

ACCELERATION

 

16.                                 Acceleration

 

16.1                           Cancellation by notice

 

On and at any time after the occurrence of a VIA Termination Event or
Borrower Termination, the Lender may immediately cancel the Commitment
whereupon it shall immediately be cancelled.

 

16.2                           Acceleration by notice

 

Subject to Clause 6.4 (Waiver upon
Clara.net breach), on
and at any time after the 40th day immediately following the
occurrence of a VIA Termination Event, the Lender may by notice to the Borrower:

 

(i)                                     declare that all or part of the Loans, together with accrued
interest, and all other amounts accrued or outstanding under the Finance
Documents (including Historic Loans and the Schuberg Deemed Borrowing) be
immediately due and payable, whereupon they shall become immediately due and
payable or

 

(ii)                                  declare that all or part of the Loans be payable on demand,
whereupon they, together with accrued interest and all other amounts accrued or
outstanding under the Finance Documents (including Historic Loans and the
Schuberg Deemed Borrowing), shall become payable on demand by the Lender.

 

16.3                           Automatic acceleration

 

Subject to Clause 6.4 (Waiver upon
Clara.net breach), if
any US Insolvency Event occurs
in relation to the Borrower:

 

(i)                                     the Commitment shall immediately be cancelled; and

 

(ii)                                  all of the Loans, together with accrued interest, and all other
amounts accrued under the Finance Documents (including Historic Loans and the
Schuberg Deemed Borrowing) shall become due and payable forty (40) days after
the date such US Insolvency Event occurs,

 

in each case automatically and without any direction, notice,
declaration or other act.

 

19

 

SECTION 9

 

MISCELLANEOUS

 

17.                                 Changes to the Parties

 

No Party may assign any of its rights or transfer any of its rights or
obligations under the Finance Documents, save that the Lender may assign any or
all of its rights under this Agreement without the Borrower’s consent following
the occurrence of a VIA Termination Event.

 

18.                                 No set-off by the Borrower

 

All payments to be made by the Borrower under the Finance Documents
shall be calculated and be made without (and free and clear of any deduction
for) set-off or counterclaim.

 

19.                                 Business Days

 

(a)                                  Any payment which is due to be made on a day that is not a Business
Day shall be made on the next Business Day in the same calendar month (if there
is one) or the preceding Business Day (if there is not).

 

(b)                                 During any extension of the due date for payment of any principal or
an Unpaid Sum under this Agreement interest is payable on the principal or
Unpaid Sum at the rate payable on the original due date.

 

20.                                 Currency of account

 

(a)                                  Subject to paragraphs (b) and (c) below, USD is the
currency of account and payment for any sum due from the Borrower under any
Finance Document.

 

(b)                                 Each payment in respect of costs, expenses or Taxes shall be made in
the currency in which the costs, expenses or Taxes are incurred.

 

21.                                 Set-off

 

(a)                                  The Lender may set off any obligation then due from the Borrower
under the Finance Documents against any obligation then owed by the Lender to
the Borrower, regardless of the place of payment or currency of either
obligation. If the obligations are in different currencies, the Lender may
convert either obligation at a market rate of exchange determined by the Lender
(acting reasonably) for the purpose of the set-off.

 

(b)                                 Without prejudice to the generality of paragraph (a) above, the
Lender, the Purchasers, the Borrower and the Sellers acknowledge that all
amounts (including the Second Closing Purchase Price), if any, payable by the
Purchasers to the Sellers under the Acquisition Agreement after (but not on)
the First Closing Date shall be paid net of all amounts then owing by the
Borrower to the Lender under the Finance Documents.

 

20

 

22.                           Limitation of liability

 

The Lender shall not have any liability for any breach
of any duty or obligation under any of the Finance Documents save that the
Borrower may, subject to Clause 29 (Enforcement),
commence proceedings in which the sole remedy which it may seek is the specific
performance the Lender’s obligations (if any) to make Loans available in
accordance with Clause 5.2 (Availability of
Loans), and the Lender shall in particular not be liable for any
loss, liability or cost incurred by the Borrower or any other person resulting
from any  failure by the Lender to comply
with the terms of the Finance Documents.

 

23.                                 Notices

 

23.1                           Communications in writing

 

Any communication to be made under or in connection with the Finance
Documents shall be made in writing and, unless otherwise stated, may be made by
fax or letter.

 

23.2                           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
the Finance Documents is that identified with its name below, or any substitute
address or fax number or department or officer as the Party may notify to the
other Parties by not less than five Business Days’ notice.

 

23.3                           Delivery

 

(a)                                  Any communication or document made or delivered by the Lender to the
Borrower under or in connection with the Finance Documents will only be
effective:

 

(i)                                     if by way of fax, when received in legible form; or

 

(ii)                                  if by way of letter, when it has been left at the relevant address
or two (2) Business Days after being deposited in the post postage prepaid
in an envelope addressed to it at that address,

 

and, if a particular officer is specified as part of its address
details provided under Clause 23.2 (Addresses), if
addressed to that officer.

 

(b)                                 Any communication or document to be made or delivered to the Lender
will be effective only when actually received by the Lender and then only if it
is expressly marked for the attention of the officer identified with the Lender’s
signature below (or any substitute officer as the Lender shall specify for this
purpose).

 

24.                                 Partial
invalidity

 

If, at any time, any provision of the Finance Documents 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.

 

21

 

25.                                 Remedies
and waivers

 

No failure to exercise, nor any delay in exercising, on the part of the
Lender, any right or remedy under the Finance Documents 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 Agreement are cumulative and not exclusive
of any rights or remedies provided by law.

 

26.                                 Amendments
and waivers

 

No term of any of the Finance Documents may be amended or waived
without the prior written consent of the Lender and the Borrower.

 

27.                           Counterparts

 

Each Finance Document 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 the Finance Document.

 

22

 

SECTION 10

 

GOVERNING LAW AND ENFORCEMENT

 

28.                                 Governing law

 

This Agreement is governed by English law.

 

29.                                 Enforcement

 

29.1                           Jurisdiction

 

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

 

(b)                                 The Parties agree that the courts of England are the most
appropriate and convenient courts to settle Disputes and accordingly no Party
will argue to the contrary.

 

29.2                           Service of process

 

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

 

(a)                                  irrevocably appoints Hogan & Hartson Corporate Services
Company Limited, One Angel Court, London EC2R 7HJ as its agent for service of
process in relation to any proceedings before the English courts in connection
with any Finance Document; and

 

(b)                                 agrees that failure by a process agent to notify the Borrower of the
process will not invalidate the proceedings concerned.

 

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

 

23

 

Schedule 1

 

Conditions Precedent

 

1.                                       Obligors

 

(a)                                  A certificate of an authorised signatory of each relevant Obligor
certifying that the constitutional documents previously delivered to the Lender
for the purposes of this Agreement (prior to amendment by the Amendment
Agreement) have not been amended and remain in full force and effect.

 

(b)                                 A copy of a resolution of the board of directors of the Borrower:

 

(i)                                     approving the terms of, and the transactions contemplated by, the
Amendment Agreement and this Agreement and resolving that it execute the
Amendment Agreement; and

 

(ii)                                  authorising a specified person or persons to execute the Amendment
Agreement on its behalf.

 

(c)                                  A copy of a resolution of the board of directors of the Pledgor:

 

(i)                                     approving the terms of, and the transactions contemplated by, the
New Share Pledges and resolving that it execute the New Share Pledges; and

 

(ii)                                  authorising a specified person or persons to execute the New Share
Pledges on its behalf.

 

(d)                                 A specimen of the signature of each person authorised by the
resolutions referred to in paragraphs (b) and (c) above.

 

(e)                                  A copy of a resolution signed by all the holders of the issued
shares in the Pledgor, approving the terms of, and the transactions
contemplated by, the New Share Pledges.

 

(f)                                    A certificate of an authorised signatory of each Obligor certifying
that each copy document relating to it specified in this Schedule 2 is
correct, complete and in full force and effect as at a date no earlier than the
date of the Amendment  Agreement.

 

2.                                       Share Pledges

 

(a)                                  A copy of each of the New Share Pledges, in a form agreed by the
Lender and duly executed by all parties thereto (together with any
notarisations required in connection such execution).

 

(b)                                 In respect of the New Dutch Share Pledge:

 

(i)                                     a notarial copy of the Right of Pledge; and

 

(ii)                                  a copy of the share register of the PSINet
Netherlands B.V. evidencing the record of the pledge in accordance with the New
Dutch Share Pledge.

 

(c)                                  In respect of the New German Share Pledge:

 

(i)                                     certified copy of the Share Pledge
Agreement;

 

(ii)                                  copies of the declarations of consent to be sent to the
Pledgee and the Pledgor and the public notary including the respective
evidences of receipt; and

 

24

 

(iii)                               copy of the notification letter to PSINET
Germany GmbH including acknowledgement or evidence of receipt.

 

25

 

Schedule 2

Utilisation Request

 

From:                                     [Borrower]

 

To:                                                 [Lender]

 

Dated:

 

Dear Sirs

 

VIA NET.WORKS INC. - $2,500,000 Facility
Agreement

dated 30 April 2005 as amended and restated from time to time (the “Agreement”)

 

3.                                       We refer to the Agreement. This is a Utilisation Request. Terms
defined in the Agreement have the same meaning in this Utilisation Request
unless given a different meaning in this Utilisation Request.

 

4.                                       We wish to borrow a Loan on the following terms:

 

Proposed Utilisation Date (which is a Permitted Utilisation Date):    [                   ]

 

Amount:                 [                   ]
or, if less, the Available Commitment.

 

5.                                       We attach the cash flow statements referred to in Clause 5.2(a)(iv) of
the Agreement.

 

6.                                       We confirm that each condition specified in Clause 4 (Conditions of Utilisation) is satisfied on the date of this
Utilisation Request.

 

7.                                       The proceeds of this Loan should be credited to :

 

Bank:

Account Name:

Account Number:

Sort Code:

 

8.                                       This Utilisation Request is irrevocable.

 

	
  Yours faithfully

  
	
   

  
	
   

  
	
   

  	
   

  	
   

  
	
  authorised signatory for

  
	
  [name of the Borrower]

  

 

26

 

The
Borrower

 

VIA NET.WORKS,
INC.

Address:                  H. Walaardt
Sacrestraat 401-403

1117 BM Schipol

The Netherlands

 

Fax No:                           +31 205 020
0001

 

Attention:            Matt Nydell (Senior Vice
President and General Counsel and Secretary)

 

 

The
Lender

 

CLARA.NET
HOLDINGS LIMITED

 

Address:                  PO Box 274

36 Hilgrove Street

St. Helier

Jersey JE4 8TR

Channel Islands

 

Fax No:                           +44 1534 768 612

 

Attention:            Denis Therezien

 

With a copy
to:

 

CLARANET GROUP
LIMITED

 

Address:                  21 Southampton Row

London WC1B 5HA

 

Fax No:                           +44 20 7681
2564

 

Attention:            Charles Nasser

 

27

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