Document:

Exhibit
4.29

 

BOND AND FLOATING CHARGE

of all its property
and undertaking

 

by

 

TELEWEST COMMUNICATIONS

(SCOTLAND HOLDINGS) LIMITED

 

and

 

DEUTSCHE BANK AG, LONDON
BRANCH

as Security Trustee

 

	
   

  	
  DUNDAS &
  WILSON CS LLP

  
	
   

  	
   

  
	
   

  	
  Saltire Court

  
	
   

  	
  20 Castle Terrace

  
	
   

  	
  Edinburgh EH1 2EN

  
	
   

  	
   

  
	
   

  	
  Tel 0131 228 8000

  
	
   

  	
  Fax 0131 228 8888

  
	
   

  	
  Legal Post: LP2
  Edinburgh 6

  
	
   

  	
   

  
	
   

  	
  Ref:
  DO/CLP/DEU002.0063

  

 

 

Table
of Contents

 

	
  1.

  	
  INTERPRETATION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2.

  	
  BOND

  	
  7

  
	
   

  	
   

  	
   

  
	
  3.

  	
  FLOATING
  CHARGE

  	
  8

  
	
   

  	
   

  	
   

  
	
  4.

  	
  RULE 3-16 LIMITATION

  	
  9

  
	
   

  	
   

  	
   

  
	
  5.

  	
  UNDERTAKINGS

  	
  10

  
	
   

  	
   

  	
   

  
	
  6.

  	
  SET-OFF

  	
  10

  
	
   

  	
   

  	
   

  
	
  7.

  	
  ENFORCEMENT

  	
  11

  
	
   

  	
   

  	
   

  
	
  8.

  	
  OFFICE
  OF RECEIVER

  	
  14

  
	
   

  	
   

  	
   

  
	
  9.

  	
  APPLICATION
  OF ENFORCEMENT MONEYS

  	
  14

  
	
   

  	
   

  	
   

  
	
  10.

  	
  RELEASE
  AND DISCHARGE

  	
  14

  
	
   

  	
   

  	
   

  
	
  11.

  	
  PROTECTION
  OF SECURITY

  	
  15

  
	
   

  	
   

  	
   

  
	
  12.

  	
  FURTHER
  ASSURANCE

  	
  16

  
	
   

  	
   

  	
   

  
	
  13.

  	
  MANDATE
  AND ATTORNEY

  	
  17

  
	
   

  	
   

  	
   

  
	
  14.

  	
  INDEMNITIES;
  COSTS AND EXPENSES

  	
  17

  
	
   

  	
   

  	
   

  
	
  15.

  	
  SECURITY
  TRUST AGREEMENT

  	
  18

  
	
   

  	
   

  	
   

  
	
  16.

  	
  REORGANISATION

  	
  18

  
	
   

  	
   

  	
   

  
	
  17.

  	
  CURRENCIES

  	
  18

  
	
   

  	
   

  	
   

  
	
  18.

  	
  NO
  ASSIGNATION

  	
  19

  
	
   

  	
   

  	
   

  
	
  19.

  	
  NOTICES

  	
  19

  
	
   

  	
   

  	
   

  
	
  20.

  	
  GOVERNING
  LAW

  	
  19

  
	
   

  	
   

  	
   

  
	
  21.

  	
  JURISDICTION

  	
  19

  
	
   

  	
   

  	
   

  
	
  21.

  	
  CONSENT
  TO REGISTRATION

  	
  19

  

 

 

BOND AND FLOATING CHARGE

 

by

 

1.         TELEWEST
COMMUNICATIONS (SCOTLAND HOLDINGS) LIMITED incorporated under the laws of Scotland
(registered number SC150058) whose registered office is at 1 South Gyle
Crescent Lane, Edinburgh, EH12 9EG (the Company);

 

in favour of

 

2.         DEUTSCHE BANK AG, LONDON BRANCH as security trustee for the
Beneficiaries (the Security Trustee)

 

WHEREAS:

 

(A)          The Lenders have agreed to make available to
the Borrowers (as defined in the Senior Facilities Agreement (as defined below))
certain credit facilities pursuant to the terms and subject to the conditions
of the Senior Facilities Agreement.

 

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

 

(C)           By an intercreditor deed dated 3 March 2006, as
amended and restated on 13 June 2006, 10 July 2006, 31 July 2006,
15 May 2008, 30 October 2009 and 8 January 2010 (the Group Intercreditor Deed) the Security Trustee, the Facility
Agent, the Original Senior Borrowers, the Original Senior Guarantors, the
Senior Lenders, the Hedge Counterparties, the Intergroup Debtors and the
Intergroup Creditors and certain other members of the Group have agreed to
regulate their relationship as creditors on the terms set out therein.

 

(D)          The board of directors of the Company is satisfied
that the Company is entering into this Instrument for the purposes of its
carrying on business and that its doing so benefits the Company.

 

(E)           The Security Trustee holds the benefit of this Instrument
on trust for itself and the other Beneficiaries on the terms and subject to the
conditions of the Security Trust Agreement and the Group Intercreditor Deed.

 

1.             INTERPRETATION

 

1.1           In this Instrument:

 

	
  the
  Act

  	
   

  	
  means the
  Companies Act 1985;

  
	
   

  	
   

  	
   

  
	
  Beneficiaries

  	
   

  	
  means the First
  Beneficiary and the Second Beneficiaries;

  
	
   

  	
   

  	
   

  
	
  Charged
  Assets

  	
   

  	
  means the whole of
  the property (including uncalled capital) which is or may be from time to
  time while this Instrument is in force comprised in the property and undertaking
  of the Company;

  

 

 

	
  Chargors

  	
   

  	
  means each of the
  Original Charging Companies and each of the Original Charging Partnerships;

  
	
   

  	
   

  	
   

  
	
  Debenture

  	
   

  	
  means the
  composite debenture dated on or about the date hereof among, inter alios, the companies listed therein as Original
  Charging Companies (including the Company), the partnerships listed therein
  as the Original Charging Partnerships and Deutsche Bank AG, London Branch as
  Security Trustee for the Beneficiaries;

  
	
   

  	
   

  	
   

  
	
  Default
  Rate

  	
   

  	
  means the rate
  specified in Clause 28.2 of the Senior Facilities Agreement or, upon its
  repayment in full and cancellation of all undrawn commitments thereunder such
  equivalent provision in the Relevant Facilities Agreement;

  
	
   

  	
   

  	
   

  
	
  Designated
  Secured Obligations

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Enforcement
  Date

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Event
  of Default

  	
   

  	
  means each of:

   

  (a)        a Senior Default; and  

   

  (b)       an event of default or termination event
  (however described) under any Hedging Agreement;

  
	
   

  	
   

  	
   

  
	
  Excluded
  Charged Assets

  	
   

  	
  has the meaning
  given to such term in Clause 4.2 of this Instrument;

  
	
   

  	
   

  	
   

  
	
  Indemnified
  Party

  	
   

  	
  has the meaning
  set out in Clause 14.3;

  
	
   

  	
   

  	
   

  
	
  Insolvency
  Act

  	
   

  	
  means the
  Insolvency Act 1986;

  

 

 

	
  Instructing
  Party

  	
   

  	
  has the meaning
  given to it in the Group Intercreditor Deed;

  
	
   

  	
   

  	
   

  
	
  Liability

  	
   

  	
  means any
  obligation or liability for the payment of money, whether in respect of
  principal, interest or otherwise, owed jointly or severally and whether owed
  as principal or surety or in any other capacity;

  
	
   

  	
   

  	
   

  
	
  Original
  Charging Companies

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Original
  Charging Partnerships

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Permitted
  Disposal

  	
   

  	
  means any disposal
  permitted under Clause 25.4 of the Senior Facilities Agreement or upon its
  repayment in full and cancellation of all undrawn commitments thereunder such
  equivalent provision in the Relevant Facilities Agreement;

  
	
   

  	
   

  	
   

  
	
  Realisation
  Accounts

  	
   

  	
  means each account maintained from time to time
  by the Security Trustee for the purposes of Clause 7.6;

  
	
   

  	
   

  	
   

  
	
  Receiver

  	
   

  	
  means any receiver
  or administrative receiver appointed in respect of all or any of the Charged
  Assets (whether pursuant to this Instrument, pursuant to any statute, by a
  Court or otherwise) and includes joint receivers;

  
	
   

  	
   

  	
   

  
	
  Relevant
  Facilities Agreement

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Restricted
  Lease

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Rule 3-16

  	
   

  	
  has the meaning
  given to such term in 

  

 

 

	
   

  	
   

  	
  “Designated Secured Obligations”;

  
	
   

  	
   

  	
   

  
	
  SEC

  	
   

  	
  means the United
  States Securities and Exchange Commission;

  
	
   

  	
   

  	
   

  
	
  Secured
  Obligations

  	
   

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

   

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

   

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

   

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

  
	
   

  	
   

  	
   

  
	
  Securities
  Act

  	
   

  	
  means the United
  States Securities Act of 1933, as amended;

  
	
   

  	
   

  	
   

  
	
  Security
  Provider

  	
   

  	
  means any person
  who has granted or may at any time hereafter grant any security interest for
  the Secured Obligations;

  
	
   

  	
   

  	
   

  
	
  Security
  Trust Agreement

  	
   

  	
  means the security
  trust agreement dated 3 March 2006 and amended and restated on or about
  the date of this Instrument between Deutsche Bank AG, London Branch as
  Security Trustee and as Facility Agent, Virgin Media Investment Holdings
  Limited (formerly known as NTL Investment Holdings Limited) and the companies
  named therein as Original Obligors;

  
	
   

  	
   

  	
   

  
	
  Senior
  Facilities Agreement

  	
   

  	
  means the senior facilities agreement dated 3
  March 2006 (as amended and restated on 22 May 2006, 10
  July 2006, 10 August 2006, 4 April 2007, 15 May 2008, 10
  November 2008, 30 October 2009 and 8 January 2010 and as
  amended, restated, supplemented or novated from time to time between Virgin
  Media Inc., Virgin Media Finance plc, Virgin Media Investment Holdings
  Limited (formerly known as NTL Investment Holdings Limited), Telewest
  Communications 

  

 

 

	
   

  	
   

  	
  Network Limited, VMIH Sub Limited (formerly
  known as NTLIH Sub Limited) as UK Borrowers, Virgin Media Dover LLC (formerly
  known as NTL Dover LLC) as US Borrower, Deutsche Bank AG, London Branch, J.P.
  Morgan plc, The Royal Bank of Scotland plc and Goldman Sachs International as
  Bookrunners and as Mandated Lead Arrangers, Deutsche Bank AG, London Branch
  as Facility Agent and as Security Trustee, Deutsche Bank AG, New York Branch
  as US Paying Agent, GE Corporate Banking Europe SAS as Administrative Agent,
  Deutsche Bank AG, London Branch as Original L/C Bank and the persons named
  therein as Lenders;

  
	
   

  	
   

  	
   

  
	
  Senior
  Secured Notes

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Senior
  Secured Notes Documents

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Senior Secured Notes Indenture

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Shares

  	
   

  	
  means all shares in the
  capital of any company now or in the future legally or beneficially owned by
  the Company and/or any nominee on behalf of the Company.

  

 

1.2        Successors and assigns

 

The expressions “Senior Lenders”, “Beneficiaries”, “Chargor”, “Senior
Finance Party”, “Company”, “Original Charging Company”, “Original Charging
Partnership”, “Relevant Agent”, “Security Provider” and “Security Trustee”
include, where the context admits, their respective successors, permitted
assigns and transferees and, in the case of the Lenders, their Transferees and,
in the case of the Security Trustee, such other person as may from time to time
be appointed as Security Trustee for the Beneficiaries pursuant to the
provisions of the Security Trust Agreement.

 

1.3        Agreement definitions

 

Unless the context otherwise requires or unless otherwise defined in
this Instrument, words and expressions defined in the Group Intercreditor Deed
and (unless otherwise

 

 

defined in the Group Intercreditor Deed) the Relevant Facilities
Agreement shall have the same meaning when used in this Instrument (including
its recitals).

 

1.4        Headings

 

Clause and schedule headings and the contents page are inserted
for convenience of reference only and shall be ignored in the interpretation of
this Instrument.

 

1.5           Construction
of certain terms

 

In this Instrument, unless the context otherwise requires:

 

(a)        references to
clauses and the schedules are to be construed as references to the
clauses of, and the schedules to, this Instrument and references to this
Instrument include its schedules;

 

(b)        references to (or to any
specified provision of) this Instrument or any other agreement or document
shall be construed as references to this Instrument, that provision, that
agreement or that document as in force for the time being and as from time to
time amended, supplemented, varied, extended, restated, replaced or novated in
accordance with the terms thereof, or, as the case may be, with the agreement
of the relevant parties and (where such consent is, by the terms of any
Security Document or the relevant document, required to be obtained as a
condition to such amendment being permitted) the prior written consent of the
Relevant Agent, the Security Trustee, all of the Beneficiaries, an Instructing
Party or all or any of the other Senior Finance Parties (as the case may be);

 

(c)        references to a regulation include any present or future regulation, rule,
directive, requirement, request or guideline (whether or not having the force
of law) of any agency, authority, central bank or government department or any
self-regulatory or other national or supra-national authority;

 

(d)        words importing the plural
shall include the singular and vice versa;

 

(e)        references to a time of day
are to London time;

 

(f)         references to a person shall be construed as including references to an
individual, firm, company, corporation, unincorporated body of persons or any
state or any agency thereof and that person’s successors in title;

 

(g)        references to a guarantee include references to an indemnity or other
assurance against financial loss including, without limitation, an obligation
to purchase assets or services as a consequence of a default by any other
person to pay any Indebtedness and guaranteed
shall be construed accordingly;

 

(h)        references to any enactment
shall be deemed to include references to such enactment as re-enacted, amended
or extended;

 

(i)         references to business in
relation to the Company means any business referred to in the definition of
Group Business in the Senior Facilities Agreement or, upon its repayment in
full and cancellation of all undrawn commitments thereunder, the equivalent
definition in the Relevant Facilities Agreement, which the Company engages in,
and references to ordinary course of business shall be similarly
construed; and

 

 

(j)         references in this
Instrument to a fixed security shall be construed a reference to a fixed
security as defined by Section 486 of the Act as in force at the date
hereof.

 

1.6           Group
Intercreditor Deed

 

This Instrument
should be read and construed subject to the terms of the Group Intercreditor
Deed.  In the event of any inconsistency
between the terms of this Instrument and the Group Intercreditor Deed, the
terms of the Group Intercreditor Deed shall prevail.

 

1.7           Secured
Liabilities

 

It is acknowledged and agreed that (without prejudice to the extension
of the Secured Obligations to any other Indebtedness from time to time included
within the definition thereof) as at the date hereof, the Secured Obligations
shall include:

 

(a)        all Liabilities under the
Senior Facilities Agreement; and

 

(b)        all Liabilities under the
Senior Secured Notes Documents.

 

2.         BOND

 

2.1        The Company hereby
covenants that it will on demand made on it by the Security Trustee pay to the
Security Trustee for the account of the relevant Beneficiaries any Secured
Obligation which is due and payable but unpaid.

 

2.2        Any statement of account of
the Company, signed as correct by an officer of the Security Trustee, showing
the amount of any Secured Obligations of the Company shall be prima facie
evidence as to the amount of the Secured Obligations of the Company from time
to time.

 

2.3        The Company warrants that
it has not taken or received, and undertakes that until all the Secured
Obligations have been paid or discharged in full it will not, without the
consent in writing of the Security Trustee, take or receive any security from
any other Chargor or any other person in respect of its obligations under
this Instrument.

 

2.4        All payments to be made by
the Company under this Instrument shall be made in full, without any set-off or
counterclaim or plea of compensation whatsoever and free and clear of any
deductions or withholdings in the relevant currency on the due date to such
account as the Security Trustee may from time to time specify.

 

2.5        Until all the Secured
Obligations have been paid, discharged or satisfied in full (and
notwithstanding payment of a dividend in any liquidation or under any
compromise or arrangement or the discharge by any person of its liability) the
Company agrees that without the prior written consent of the Security Trustee
it will not:

 

(a)        exercise its rights of subrogation, reimbursement and indemnity against
any other Chargor or any other person;

 

(b)        save as otherwise permitted and not restricted in each of the Senior
Finance Documents, the Refinancing Facilities Agreements and the Group
Intercreditor Deed, demand or accept repayment in whole or in part of any
obligations or liabilities now or hereafter due to the Company from any other
Chargor or any 

 

 

Security Provider or demand or accept any
guarantee or any other document or instrument (including, without limitation,
any other document or instrument creating or evidencing a mortgage, charge
(whether fixed or floating), pledge, lien, hypothecation, assignment, trust
arrangement or security interest of any kind) in respect of such obligations or
liabilities or dispose of the same;

 

(c)        take any step to enforce any right against any other Chargor or any
Security Provider in respect of any such obligations or liabilities; or

 

(d)        claim any set-off or counter-claim in respect of any such obligations or
liabilities against any other Chargor or any Security Provider or claim or
prove in competition with the Security Trustee or any of the Beneficiaries in
the bankruptcy, liquidation or administration of any other Chargor or any
Security Provider or have the benefit of, or share in, any payment from or
composition with any other Chargor or any Security Provider or any other
Security Document now or hereafter held by the Security Trustee or any of the
Beneficiaries for any obligations or liabilities of any other Chargor or any
Security Provider but so that, if so directed by the Security Trustee, it will
prove for the whole or any part of its claim in the liquidation of any other
Chargor or any Security Provider on terms that the benefit of such proof and of
all money received by it in respect thereof shall be held on trust for the
Security Trustee and applied in or towards discharge of the Secured Obligations
in accordance with the provisions of the Group Intercreditor Deed and Security
Trust Agreement.

 

2.6       Recoveries by the Company

 

If contrary to
Clause 2.3 or 2.5 the Company takes or receives the benefit of any security or
receives or recovers any money or other property, such security, money or other
property shall be held on trust for the Security Trustee and shall be delivered
to the Security Trustee on demand.

 

3.          FLOATING
CHARGE

 

3.1        The Company, being a
company incorporated in Scotland, as security for the payment and discharge of
all the Secured Obligations HEREBY GRANTS in favour of the Security Trustee for
itself and as trustee for the Beneficiaries a floating charge over the whole of
the Charged Assets PROVIDED THAT, for the avoidance of doubt, the floating
charge shall not attach to any plant or machinery, or any lease interest
therein, which is the subject of a lease where the title thereto vests in the
relevant lessor and not the Company.

 

3.2        The floating charge hereby
created shall rank pari passu with the floating charge
created by the Debenture, and, subject to Section 464(2) of the Act,
rank in priority to any fixed security which shall be created by the Company
after its execution hereof (other than a fixed security in favour of the
Security Trustee for itself and/or as trustee aforesaid) and to any other
floating charge which shall be created by the Company after its execution hereof
and, subject as aforesaid, no such fixed security nor such other floating
charge shall rank in priority to or equally with or postponed to the floating
charge hereby created by it.

 

3.3        Paragraph 14 of Schedule B1 to the Insolvency
Act 1986 (as amended by Schedule 16 of the Enterprise Act 2002) will apply to
any floating charge created pursuant to this Instrument.

 

 

3.4        Notwithstanding Clause 3.1,
unless and until the Company has obtained the consent of the relevant landlord
and any other relevant party (each being a Consent) the
floating charge granted pursuant to Clause 3.1 shall not extend to the Company’s
rights over any Restricted Lease.  Unless
the Company has received a written confirmation from the Security Trustee that
a particular Consent is not required, the Company hereby undertakes to use its
reasonable endeavours to obtain the Consents. 
On obtaining each Consent the Restricted Lease shall thereupon
automatically become subject to the floating charge created pursuant to Clause
3.1 and the Company shall immediately produce evidence of such Consent to the
Security Trustee.

 

3.5        The Company hereby warrants
that it is not a party to any Restricted Lease and that, accordingly, no
Consents are required in respect of any of the Charged Assets.

 

4.             RULE 3-16 LIMITATION

 

4.1           Clause 3 of this Instrument notwithstanding, the
Excluded Charged Assets are not charged under this Instrument to secure the
Designated Secured Obligations. For the avoidance of doubt,

 

(a)     all other Shares remain charged or assigned (as the
case may be) under this Instrument to secure all Secured Obligations, including
without limitation the Designated Secured Obligations; and

 

(b)     such Excluded Charged Assets remain charged under
Clause 3 of this Instrument to secure any Secured Obligations that are not
Designated Secured Obligations.

 

4.2           “Excluded Charged
Assets” in relation to any Designated Secured Obligations means any
Shares or other securities of a Subsidiary of Virgin Media Inc. (excluding the
Shares or other securities issued by Virgin Media Investments Limited or any
successor entity upon any merger, reorganisation or other restructuring
effecting it) that are owned by the Company to the extent that pledging or
assigning such Shares or other securities under this Instrument to secure such
Designated Secured Obligations would result in Rule 3-16 requiring
separate financial statements of such Subsidiary to be filed with the SEC, but (i) only
to the extent necessary to not be subject to such requirement, (ii) only
for so long as such requirement is in existence and (iii) only if no
member of the Group files or is otherwise required to file separate financial
statements of such Subsidiary with the SEC under a separate rule or
regulation; provided that no
Shares or securities will constitute Excluded Charged Assets if any member of
the Group takes any action in the form of a reorganisation, merger or other
restructuring, a principal purpose of which is to provide for the limitation of
the pledge and/or assignment of any Shares or other securities pursuant to
Clause 4.1.

 

4.3           In the event that Rule 3-16 is amended,
modified or interpreted by the SEC to require (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, which would
require) the filing with the SEC (or any other United States federal or state
governmental agency) of separate financial statements of any such Subsidiary
due to the fact that such Subsidiary’s Shares or other securities secure any
Designated Secured Obligations, then such Shares or other securities (as
applicable) of such Subsidiary shall automatically be deemed to be Excluded
Charged Assets for such Designated Secured Obligations but (i) only to the
extent necessary to not be subject to any such financial statement requirement,
(ii) only for so long as such financial statement requirement would
otherwise have been 

 

 

applicable to such Subsidiary and (iii) only if no member of the
Group files or is otherwise required to file separate financial statements of
such Subsidiary with the SEC or such other governmental agency under a separate
rule or regulation. If the circumstances described in this paragraph (c) apply,
this Instrument may be amended or modified, without the consent of any Senior
Finance Party, to the extent necessary to release the charge (but only to the
extent securing such Designated Secured Obligations and without prejudice to
the charge securing Secured Obligations referred to in Clause 4.1(b)) in favour
of the Security Trustee on the relevant Shares and/or other securities that are
so deemed to constitute Excluded Charged Assets.

 

4.4           In the event that Rule 3-16
is amended, modified or interpreted by the SEC to permit (or is replaced with
another rule or regulation, or any other law, rule or regulation is
adopted, which would permit) such Subsidiary’s Shares and/or other securities
to secure any Designated Secured Obligations in excess of the amount then
pledged without the filing with the SEC (or any other United States federal or
state governmental agency) of separate financial statements of such Subsidiary,
then the Shares or other securities (as applicable) of such Subsidiary will
automatically be deemed not to be Excluded Charged Assets for such Designated
Secured Obligations, but limited to the extent necessary to not be subject to
any such financial statement requirement. If the circumstances described in
this paragraph 4.4 apply, this Instrument may be amended or modified, without
the consent of any Senior Finance Party, to the extent necessary to charge in
favour of the Security Trustee such additional Shares or other securities that
were deemed to constitute Excluded Charged Assets.

 

5.          UNDERTAKINGS

 

The Company hereby undertakes with the
Security Trustee that until the security constituted by this Instrument is
released in accordance with the following provisions:

 

(i)                     the provisions of Clause 5
of the Debenture shall apply mutatis mutandis as if set out
herein but so that references therein to Chargor and this Deed shall be
construed herein as references to the Company and this Instrument respectively;

 

(ii)                    the Company will comply
with all its obligations under the Senior Finance Documents; and

 

(iii)                   the Company will notify the
Security Trustee forthwith in the event that any claim or notice against it or
any of the Charged Assets is received from any other party which is likely to
materially prejudice the value of the Charged Assets and of all matters
relevant thereto.

 

6.          SET-OFF

 

6.1           The Company hereby agrees that after the
Enforcement Date the Security Trustee and/or each other Beneficiary may at any
time without notice, notwithstanding any settlement of account or other matter
whatsoever, combine or consolidate all or any of its then existing accounts
wheresoever situate (including accounts in the name of the Security Trustee,
such other Beneficiary or of the Company jointly with others), whether such
accounts are current, deposit, loan or of any other nature whatsoever, whether
they are subject to notice or not and whether they are denominated in Sterling
or in any other currency, and set-off or transfer any sum standing to the
credit of any one or more such accounts in or towards satisfaction of the
Secured 

 

 

Obligations owed to the Security Trustee and/or such other Beneficiary
which, to the extent not then payable, shall automatically become payable to
the extent necessary to effect such set-off.

 

6.2           For the purpose of Clause
6.1, the Company authorises the Security Trustee and each other Beneficiary to
purchase with the moneys standing to the credit of such accounts such other
currencies as may be necessary to effect such applications at the spot rate of
exchange (as, save in the case of manifest error, conclusively determined by
the
Security Trustee or the relevant other Beneficiary) prevailing in the London
foreign exchange market for purchasing Sterling with the currency in which the
sum standing to the credit of the relevant account is denominated.

 

7.          ENFORCEMENT

 

7.1           If (and only if) the Enforcement Date has occurred
this Instrument shall become enforceable.

 

7.2           At any time: (i) on or after the Enforcement
Date; or (ii) if the Board of Directors of the Company requests that a
Receiver or administrator be appointed forthwith; or (iii) a petition is
presented for the making of an administration order of the Company, the power
to appoint a Receiver or administrator of the Charged Assets shall be
immediately exercisable in relation to the security created by the Company by
or pursuant to this Instrument, and the Security Trustee may then (i) by
instrument in writing appoint any person or persons (if more than one with
power to act both jointly and severally) to be a Receiver of the Charged
Assets, or (ii) appoint an administrator of the Company pursuant to
paragraph 14 of Schedule B1 to the Insolvency Act 1986.  In addition and without prejudice to the
foregoing provisions of this sub-clause, in the event that any person appointed
in pursuance hereof to be a Receiver as aforesaid shall be removed by a Court
or shall otherwise cease to act as such, then the Security Trustee shall be
entitled so to appoint another person as Receiver in his place.

 

7.3           A Receiver so appointed
shall have and be entitled to exercise all the powers conferred upon such a
Receiver by the Insolvency Act and in addition to and without limiting these powers,
such Receiver shall have power to:

 

7.3.1        implement and exercise all
or any of the Company’s powers and/or rights and/or obligations under any
contract or other agreement forming a part of the Charged Assets;

 

7.3.2        make any arrangement or
compromise which he shall think expedient of or in respect of any claim by or
against the Company;

 

7.3.3        subscribe for or acquire
for cash or otherwise any share capital of such new company or corporation in
the name of the Company and on its behalf and/or in the name(s) of a
nominee(s) or trustee(s) for it;

 

7.3.4        sell, feu, assign,
transfer, exchange, hire out, grant leases of or otherwise dispose of or
realise the Charged Assets or any part thereof to any such new company or
corporation and accept as consideration or part of the consideration therefor
in the name of the Company and on its behalf and/or in the name(s)  of any
nominee(s) or trustee(s) for it any shares or further shares in any
such company or corporation or allow the payment of the whole or any part of
such consideration to remain deferred or outstanding by way of loan or debt or
credit;

 

 

7.3.5        sell, feu, assign,
transfer, exchange, hire out, grant leases of or otherwise dispose of or
realise on behalf of the Company any such shares or deemed consideration or
part thereof or any rights or benefits attaching thereto;

 

7.3.6        convene an extraordinary
general meeting of the Company;

 

7.3.7        acquire any property on
behalf of the Company;

 

7.3.8        in respect of any assets of
the Company situated in England and Wales, 
exercise in addition to the foregoing all the powers conferred by the
Insolvency Act or any other enactment or under law on Receivers appointed in
that jurisdiction;

 

7.3.9        take possession of, collect
and get in all or any of the Charged Assets;

 

7.3.10      carry on, manage, develop,
reconstruct, amalgamate or diversify the business of the Company or any part
thereof or concur in so doing; lease or otherwise acquire and develop or
improve properties or other assets without being responsible for loss or damage
subject to the terms of this Instrument;

 

7.3.11      raise or borrow any money
from or incur any other Liability to the Security Trustee or the Beneficiaries
or others on such terms with or without security as he may think fit and so
that any such security may be or include a charge on the whole or any part of
the Charged Assets ranking in priority to the security created by this
Instrument or otherwise;

 

7.3.12      sell by public auction or
private contract, let, surrender or accept surrenders, grant licences or
otherwise dispose of or deal with all or any of the Charged Assets or concur in
so doing in such manner for such consideration and generally on such terms and
conditions as he may think fit with full power to convey, let, surrender,
accept surrenders or otherwise transfer or deal with such Charged Assets in the
name and on behalf of the Company or otherwise and so that covenants and
contractual obligations may be granted and assumed in the name of and so as to
bind the Company (or other estate owner) if he shall consider it necessary or
expedient so to do; any such sale, lease or disposition may be for cash,
debentures or other obligations, shares, stock, securities or other valuable
consideration and be payable immediately or by instalments spread over such
period as he shall think fit and so that any consideration received or
receivable shall ipso facto forthwith be and become charged with the payment of
all the Secured Obligations; plant, machinery and other fixtures may be severed
and sold separately from the premises containing them and the Receiver may
apportion any rent and the performance of any obligations affecting the
premises sold without the consent of the Company;

 

7.3.13      promote the formation of
companies with a view to the same becoming a Subsidiary of the Chargor
concerned and purchasing, leasing, licensing or otherwise acquiring interests
in all or any of the Charged Assets or otherwise, arrange for such companies to
trade or cease to trade and to purchase, lease, license or otherwise acquire
all or any of the Charged Assets on such terms and conditions whether or not
including payment by instalments secured or unsecured as he may think fit;

 

 

7.3.14      make and effect such
repairs, renewals and improvements to the Charged Assets or any part thereof as
he may think fit and maintain, renew, take out or increase insurances;

 

7.3.15      appoint managers, agents,
officers and employees for any of the purposes referred to in this
Clause 7 or to guard or protect the Charged Assets at such salaries and
commissions and for such periods and on such terms as he may determine and may
dismiss the same;

 

7.3.16      make calls conditionally or
unconditionally on the members of the Company concerned in respect of uncalled
capital and institute, continue, enforce, defend, settle or discontinue any
actions, suits or proceedings in relation to the Charged Assets or any part
thereof or submit to arbitration as he may think fit;

 

7.3.17      sign any document, execute
any deed and do all such other acts and things as may be considered by him to
be incidental or conducive to any of the matters or powers aforesaid or to the
realisation of the security created pursuant to this Instrument of the Security
Trustee and the Beneficiaries and to use the name of the Company concerned for
all the purposes aforesaid;

 

7.3.18      do all the acts and things
described in schedules 1 or 2 to the Insolvency Act as if the words he and him
referred to the Receiver and company referred to the Company;

 

7.3.19      do all such other acts and
things as he may consider necessary or desirable for protecting or realising
the Charged Assets or any part thereof or incidental or conducive to any of the
matters, powers or authorities conferred on a Receiver under or by virtue of or
pursuant to this Instrument, and exercise in relation to the Charged Assets or
any part thereof all such powers and authorities and do all such things as he
would be capable of exercising or doing if he were the absolute beneficial
owner of the same;  and use the name of
the Company for all and any of the purposes aforesaid; and

 

7.3.20      do all or any of the acts
and things specified in Clause 9 of the Debenture which are not specified in
this Clause 7.3.

 

7.4           In the exercise of the powers hereby conferred any
Receiver may sever and sell plant, machinery or other fixtures
separately from the property to which they may be annexed.

 

7.5           No purchaser or other person
shall be bound or concerned to see or enquire whether the right of the Security
Trustee or any Receiver to exercise any of the powers conferred by this
Instrument has arisen or not or be concerned with notice to the contrary or
with the propriety of the exercise or purported exercise of such powers.

 

7.6           If the Security Trustee (whether by the appointment
of a Receiver or otherwise) enforces the security created pursuant to this
Instrument the Security Trustee (or such Receiver) may:

 

7.6.1        open and maintain with such
bank or banks (or other financial institutions) as it thinks fit one or more
Realisation Accounts;

 

7.6.2        pay the proceeds of any
recoveries effected by it into any such number of Realisation Accounts as it considers
appropriate; and

 

 

7.6.3        subject to the payment of
any claims having priority to the security created pursuant to this Instrument,
withdraw amounts standing to the credit of the Realisation Accounts to:

 

7.6.4        discharge all costs,
charges and expenses incurred and payments made by the Security Trustee (or
such Receiver) in the course of such enforcement;

 

7.6.5        pay remuneration to the
Receiver as and when the same becomes due and payable; and

 

7.6.6        discharge the Secured
Obligations as and when the same become due and payable.

 

8.          OFFICE
OF RECEIVER

 

8.1           Any Receiver appointed under Clause 7 shall be the
agent of the Company for all purposes and (subject to the provisions of the
Insolvency Act) the Company alone shall be responsible for his contracts,
engagements, acts, omissions, defaults and losses and for liabilities incurred
by him and for his remuneration and his costs, charges and expenses, and the
Security Trustee shall not incur any liability therefor (either to the Company
or any other person) by reason of the Security Trustee making his appointment
as such Receiver or for any other reason whatsoever.

 

8.2           Any Receiver appointed shall be entitled to
remuneration appropriate to the work and responsibilities involved upon the
basis of charging from time to time adopted by the Receiver in accordance with
the current practice of the Receiver or his firm.

 

9.          APPLICATION
OF ENFORCEMENT MONEYS

 

All moneys received by the Security Trustee or by any Receiver shall be
applied, after the discharge of the remuneration and expenses of the Receiver
and all liabilities having priority to the Secured Obligations, in or towards
satisfaction of the Secured Obligations in accordance with the terms of the
Group Intercreditor Deed and the Security Trust Agreement, except that the
Security Trustee may credit the same to a suspense account for so long and in
such manner as the Security Trustee may from time to time determine and the
Receiver may retain the same for such period as he and the Security Trustee
consider expedient.

 

10.        RELEASE
AND DISCHARGE

 

10.1         The Security Trustee acting on behalf of the
Beneficiaries under the Senior Finance Documents may at any time release the
Company from any or all of its obligations under or pursuant to this Instrument
and/or all or any part of the Charged Assets from the security created by this
Instrument upon such terms as the Security Trustee may think fit but nothing in
this Instrument does, shall or is intended to constitute a release of any of
the Charged Assets.

 

10.2         Upon the satisfaction in full of all of the Secured
Obligations and there no longer being any obligation on any Beneficiary to make
any of the Secured Obligations available, then subject only to Clause 10.3, the
Security Trustee shall, at the request and cost of the Company, execute and do
all such deeds, acts and things as may be necessary to release the Charged
Assets from the security constituted, and to reassign the property and assets
assigned to the Security Trustee, hereby.

 

 

10.3         Any release, discharge or settlement between the
Company and the Security Trustee shall be conditional upon no security,
disposition or payment to the Security Trustee or any of the Beneficiaries by
any Chargor or any other person being void, set aside or ordered to be refunded
pursuant to any enactment or law relating to bankruptcy, liquidation,
administration or insolvency or for any other reason whatsoever and if such
condition shall not be fulfilled the Security Trustee shall be entitled to
enforce this Instrument subsequently as if such release, discharge or
settlement had not occurred and any such payment had not been made.  The Security Trustee shall be entitled to
retain the security created pursuant to this Instrument after as well as before
the payment, discharge or satisfaction of all moneys, obligations and
liabilities that are or may become due owing or incurred to the Security
Trustee and the Beneficiaries from any Chargor for such period as the Security
Trustee may reasonably determine being not longer than 13 months following the
date of payment, discharge or satisfaction of the Secured Obligations in full.

 

10.4         The Security Trustee shall,
at the request and cost of the Company, execute such letters of non-crystallisation as may be
reasonably necessary to permit any Permitted Disposal of the Charged Assets.

 

11.        PROTECTION
OF SECURITY

 

11.1         The security created by this Instrument shall be a
continuing security notwithstanding any settlement of account or other matter
or thing whatsoever, and in particular (but without prejudice to the generality
of the foregoing) shall not be considered satisfied by an intermediate
repayment or satisfaction of part only of the Secured Obligations, and shall
continue in full force and effect until total and irrevocable satisfaction of
all the Secured Obligations.

 

11.2         The security created by this Instrument shall be in
addition to and shall not in any way prejudice or be prejudiced by any
collateral or other security, right or remedy which the Security Trustee may
now or at any time hereafter hold for all or any part of the Secured
Obligations.

 

11.3         No failure on the part of the Security Trustee or
any Beneficiary to exercise and no delay on its part in exercising any right,
remedy, power or privilege under or pursuant to this Instrument or any other
document relating to or securing all or any part of the Secured Obligations
will operate as a waiver thereof, nor will any single or partial exercise of
any right or remedy preclude any other or further exercise thereof or the
exercise of any other right or remedy. 
The rights and remedies provided in this Instrument and any such other
document are cumulative and not exclusive of any right or remedies provided by
law.

 

11.4         Each of the provisions in this Instrument shall be
severable and distinct from one another and if at any time
any one or more of such provisions is or becomes or is declared null and void,
invalid, illegal or unenforceable in any respect under any law or otherwise
howsoever the validity, legality and enforceability of the remaining provisions
hereof shall not in any way be affected or impaired thereby.

 

11.5         If the Security Trustee or any Beneficiary receives
or is deemed to be affected by notice whether actual or constructive of any
subsequent security or other interest affecting any part of the Charged Assets
and/or the proceeds of sale thereof, the Security Trustee or such Beneficiary
may open a new account or accounts for the Company.  If the Security Trustee or such Beneficiary
does not open a new account it shall nevertheless be treated as if it had done
so at the time when it received or was deemed to have received notice and as
from that time all payments made to the 

 

 

Security Trustee or such Beneficiary shall be credited or be treated as
having been credited to the new account and shall not operate to reduce the
amount for which this Instrument is security.

 

11.6         Neither the security created by this Instrument nor
the rights, powers, discretions and remedies conferred upon the Security
Trustee by this Instrument or by law shall be discharged, impaired or otherwise
affected by reason of:

 

11.6.1      any other present or future
security, guarantee, indemnity or other right or remedy held by or available to
the Security Trustee or any Beneficiary being or becoming wholly or in part
void, voidable or unenforceable on any ground whatsoever or by the Security
Trustee or any Beneficiary from time to time exchanging, varying, realising,
releasing or failing to protect or enforce any of the same; or

 

11.6.2      the Security Trustee or any
Beneficiary compounding with, discharging or releasing or varying the liability
of, or granting any time, indulgence or concession to, the Company or any other
person or renewing, determining, varying or increasing any accommodation or
transaction in any manner whatsoever or concurring in accepting or varying any
compromise, arrangement or settlement or omitting to claim or enforce payment
from the Company or any other person; or

 

11.6.3      any act or omission which
would not have discharged or affected the liability of the Company had it been
a principal debtor instead of cautioner or by anything done or omitted which
but for this provision might operate to exonerate the Company from the Secured
Obligations; or

 

11.6.4      any legal limitation,
disability, Incapacity or other similar circumstance relating to the
Company.

 

11.7         The Security Trustee shall not be obliged, before
exercising any of the rights, powers or remedies conferred upon it by or
pursuant to this Instrument or by law, to:

 

11.7.1      take any action or obtain
judgment or decree in any Court against the Company;

 

11.7.2      make or file any claim to
rank in a winding-up or liquidation of the Company; or

 

11.7.3      enforce or seek to enforce
any other security taken, or exercise any right or plea available to the
Security Trustee, in respect of any of the Company’s obligations under the
Security Documents other than this Instrument.

 

12.        FURTHER
ASSURANCE

 

The Company shall
execute and do all such assurances, acts and things as the Security Trustee shall
from time to time reasonably require for perfecting or protecting the security
created by or pursuant to this Instrument over the Charged Assets or, on or
after the Enforcement Date, for facilitating the realisation of such assets and
the exercise of all powers, authorities and discretions vested in the Security
Trustee or in any Receiver and shall, in particular, execute all fixed
securities, floating charges, assignations, securities, transfers, dispositions
and assurances of the Charged Assets whether to the Security Trustee or to its
nominee(s) or otherwise and give all notices, orders and directions which
the Security Trustee may think expedient, acting 

 

 

reasonably, which
fixed securities over heritable or leasehold property situated in Scotland
shall be standard securities in the agreed form for property of that type.

 

13.        MANDATE
AND ATTORNEY

 

13.1         The Company by way of security hereby irrevocably
appoints each of the Security Trustee and any Receiver or administrator
severally to be its attorney in its name and on its behalf:

 

13.1.1      to execute and complete on
or after the Enforcement Date any documents or instruments which the Security
Trustee or such Receiver or administrator may require for perfecting the title
of the Security Trustee to the Charged Assets or for vesting the same in the
Security Trustee, its nominees or any purchaser;

 

13.1.2      to sign, execute, seal and
deliver and otherwise perfect any further security document or notice referred
to in Clause 12 in accordance with the terms thereof; and

 

13.1.3      otherwise generally on or
after the Enforcement Date to sign, seal, execute and deliver all deeds,
assurances, agreements and documents and to do all acts and things which may be
required for the full exercise of all or any of the powers conferred on the
Security Trustee or a Receiver or administrator under this Instrument or which
may be deemed expedient by the Security Trustee or a Receiver or administrator
in connection with any disposition, realisation or getting in by the Security Trustee
or such Receiver of the Charged Assets or any part thereof or in connection
with any other exercise of any power under this Instrument.

 

13.2         The Company ratifies and confirms and agrees to
ratify and confirm all acts and things which any attorney as is mentioned in
Clause 13.1 shall do or purport to do in the proper exercise of his powers
under such Clause.

 

14.        INDEMNITIES;
COSTS AND EXPENSES

 

14.1         The Company binds and obliges itself for the whole
expenses of completing and enforcing the security hereby granted and the
expenses of any discharge hereof.

 

14.2         All costs, charges and expenses incurred and all
payments made by the Security Trustee or any Receiver hereunder in or about the
enforcement, preservation or attempted preservation of the security created by
or pursuant to this Instrument or any of the Charged Assets shall carry
interest from the date falling 30 days after the date of demand for payment of
such expenses to the date of payment by the Company at the Default Rate (both
before and after judgment).  The amount
of all such costs, charges, expenses and payments and all interest thereon and
all remuneration payable hereunder shall be payable by the Company on demand
and shall be a Secured Obligation.  All
such costs, charges, expenses and payments shall be paid and charged as between
the Security Trustee or any Receiver and the Company on the basis of a full and
unqualified indemnity.

 

14.3         The Beneficiaries, the
Security Trustee and any Receiver or administrator, attorney, agent or other
person appointed by the Security Trustee under this Instrument and the officers
and employees of each of the aforementioned (each an Indemnified Party) shall
be entitled to be indemnified out of the Charged Assets in respect of all
costs, losses, actions, claims, demands or liabilities whether in contract,
tort, delict or otherwise and whether arising at common law, in equity or by
statute which may be 

 

 

incurred by, or made against, any of them (or by or against any
manager, agent, officer or employee for whose liability, act or omission
any of them may be answerable) at any time relating to or arising directly or
indirectly out of or as a consequence of:

 

14.3.1      anything done or omitted in
the exercise or purported exercise of the powers contained in this Instrument;
or

 

14.3.2      any breach by the Company
of any of its obligations under this Instrument; or

 

14.3.3      an Environmental Claim made
or asserted against an Indemnified Party which would not have arisen if this
Instrument had not been executed and which was not caused by the negligence or
wilful default of the relevant Indemnified Party

 

in each case, except
in the case of fraud, wilful misconduct or gross negligence on the part of an
Indemnified Party.

 

15.        SECURITY
TRUST AGREEMENT

 

The Company and the
Security Trustee hereby acknowledge that the covenants of the Company contained
in this Instrument and the security and other rights, titles and interests
constituted by this Instrument and the Charged Assets and all other moneys,
property and assets paid to the Security Trustee or held by the Security
Trustee or received or recovered by the Security Trustee pursuant to or in
connection with this Instrument are held by the Security Trustee subject to and
on the terms of the trusts declared in the Security Trust Agreement.

 

16.        REORGANISATION

 

This Instrument
shall remain binding on the Company notwithstanding any change in the
constitution of the Security Trustee or any Beneficiary or the absorption of
the Security Trustee or any Beneficiary in, or amalgamation with, or the
acquisition of all or part of its undertaking by, any other person, or any
reconstruction or reorganisation of any kind. 
The security granted by this Instrument shall remain valid and effective
in all respects in favour of the Security Trustee as trustee for the
Beneficiaries.

 

17.        CURRENCIES

 

17.1         Conversion of currencies

 

All moneys received or held by the Security
Trustee or by a Receiver under this Instrument at any time on or after the
Enforcement Date in a currency other than a currency in which the Secured
Obligations are denominated may from time to time be sold for such one or more
of the currencies in which the Secured Obligations are denominated as the
Security Trustee or Receiver considers necessary or desirable and the Company
shall indemnify the Security Trustee against the full Sterling cost (including
all costs, charges and expenses) properly incurred in relation to such
sale.  Neither the Security Trustee nor
any Receiver shall have any liability to the Company in respect of any loss
resulting from any fluctuation in exchange rates after any such sale.

 

 

17.2         Currency indemnity

 

No payment to the Security Trustee (whether
under any judgment or court order or otherwise) shall discharge the obligation
or liability of the Company in respect of which it was made unless and until
the Security Trustee shall have received payment in full in the currency in
which such obligation or liability was incurred.  To the extent that the amount of any such
payment shall on actual conversion into such currency fall short of such
obligation or liability expressed in that currency the Security Trustee shall
have a further separate cause of action against the Company and shall be
entitled to enforce the charges hereby created to recover the amount of the
shortfall.

 

18.        NO
ASSIGNATION

 

The Company may not
assign or transfer any of its rights or obligations under this Instrument.

 

19.        NOTICES

 

All notices,
requests, demands and other communications to be given under this Instrument
shall be deemed to be duly given or made when delivered or despatched in
accordance with Clause 20 of the Group Intercreditor Deed.

 

20.        GOVERNING
LAW

 

This Instrument (and
all non-contractual disputes arising out of it) shall be governed by, and
construed in all respects in accordance with, the law of Scotland.  The Company hereby represents and warrants to
the Security Trustee that its choice of the law of Scotland to govern this
Instrument is valid and binding subject to the Reservations.

 

21.           JURISDICTION

 

For the benefit of the
Security Trustee and the Beneficiaries, the Company irrevocably agrees that the
Scottish courts are to have jurisdiction to settle any disputes which may arise
out of or in connection with this Instrument and that, accordingly, any suit, action
or proceedings arising out of or in connection with this Instrument (Proceedings) may be brought in any such
court. The Company irrevocably waives any objection to Proceedings in such a
court on the grounds of venue or on the ground that the Proceedings have been
brought in an inconvenient forum.

 

22.       CONSENT
TO REGISTRATION

 

A Certificate signed
by an officer of the Security Trustee shall, in the absence of manifest error,
be prima facie evidence of the amount of the Secured Obligations at any
relevant time and shall constitute a balance and charge against the Company,
and no suspension of a charge or of a threatened charge for payment of the
balance so constituted shall pass nor any sist of execution thereon be granted
except on consignation.  The Company
hereby consents to the registration of this Instrument and of any such
certificate for preservation:  IN WITNESS WHEREOF these presents consisting of this and the
preceding twenty two pages are subscribed as follows:

 

 

Subscribed for and
on behalf of

TELEWEST
COMMUNICATIONS (SCOTLAND HOLDINGS) LIMITED

acting by its
directors VIRGIN MEDIA DIRECTORS LIMITED and VIRGIN MEDIA

SECRETARIES
LIMITED:

 

Robert Mackenzie
duly authorised by

Virgin Media
Directors Limited to sign on its behalf as director

 

	
  /s/ ROBERT
  MACKENZIE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  in the presence
  of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ MANOJ BHUNDIA

  	
   

  	
  Witness

  
	
   

  	
   

  	
   

  
	
  Manoj Bhundia

  	
   

  	
  Print full name of
  Witness

  
	
   

  	
   

  	
   

  
	
  99 City Road

  	
   

  	
  Address of Witness

  
	
  LONDON, EC1Y 1AX

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  all together at

  	
   

  	
   

  
	
  on

  	
   

  	
   

  

 

 

Robert Gale duly
authorised by

Virgin Media Secretaries
Limited to sign on its behalf as director

 

	
  /S/ ROBERT GALE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  in the presence
  of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ MANOJ BHUNDIA

  	
   

  	
  Witness

  
	
   

  	
   

  	
   

  
	
  Manoj Bhundia

  	
   

  	
  Print full name of
  Witness

  
	
   

  	
   

  	
   

  
	
  99 City Road

  	
   

  	
  Address of Witness

  
	
  LONDON EC1Y 1AX

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  all together at

  	
   

  	
   

  
	
  on

  	
   

  	
   

  

 

 

Subscribed for and
on behalf of

DEUTSCHE BANK AG,
LONDON BRANCH acting by

 

	
  /s/ NICOLA ANNE
  DAWES

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  
	
  Nicola Anne Dawes

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
  /s/ VIKKI ANNE
  MAYELL

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  
	
  Vikki Anne Mayell

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
  all together at
  London

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  on     19th January 2010Exhibit 4.30

 

BOND AND FLOATING CHARGE

of all its property and undertaking

 

by

 

TELEWEST COMMUNICATIONS

(SCOTLAND) LIMITED

 

and

 

DEUTSCHE BANK AG, LONDON BRANCH

as Security Trustee

 

	
   

  	
  DUNDAS &
  WILSON CS LLP

  
	
   

  	
   

  
	
   

  	
  Saltire Court

  
	
   

  	
  20 Castle Terrace

  
	
   

  	
  Edinburgh EH1 2EN

  
	
   

  	
   

  
	
   

  	
  Tel 0131 228 8000

  
	
   

  	
  Fax 0131 228 8888

  
	
   

  	
  Legal Post: LP2
  Edinburgh 6

  
	
   

  	
   

  
	
   

  	
  Ref:
  DO/CLP/DEU002.0063

  

 

 

Table
of Contents

 

	
  1.

  	
  INTERPRETATION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2.

  	
  BOND

  	
  7

  
	
   

  	
   

  	
   

  
	
  3.

  	
  FLOATING
  CHARGE

  	
  8

  
	
   

  	
   

  	
   

  
	
  4.

  	
  RULE 3-16 LIMITATION

  	
  9

  
	
   

  	
   

  	
   

  
	
  5.

  	
  UNDERTAKINGS

  	
  10

  
	
   

  	
   

  	
   

  
	
  7.

  	
  ENFORCEMENT

  	
  11

  
	
   

  	
   

  	
   

  
	
  8.

  	
  OFFICE
  OF RECEIVER

  	
  14

  
	
   

  	
   

  	
   

  
	
  9.

  	
  APPLICATION
  OF ENFORCEMENT MONEYS

  	
  14

  
	
   

  	
   

  	
   

  
	
  10.

  	
  RELEASE
  AND DISCHARGE

  	
  14

  
	
   

  	
   

  	
   

  
	
  11.

  	
  PROTECTION
  OF SECURITY

  	
  15

  
	
   

  	
   

  	
   

  
	
  12.

  	
  FURTHER
  ASSURANCE

  	
  16

  
	
   

  	
   

  	
   

  
	
  13.

  	
  MANDATE
  AND ATTORNEY

  	
  17

  
	
   

  	
   

  	
   

  
	
  14.

  	
  INDEMNITIES;
  COSTS AND EXPENSES

  	
  17

  
	
   

  	
   

  	
   

  
	
  15.

  	
  SECURITY
  TRUST AGREEMENT

  	
  18

  
	
   

  	
   

  	
   

  
	
  16.

  	
  REORGANISATION

  	
  18

  
	
   

  	
   

  	
   

  
	
  18.

  	
  NO
  ASSIGNATION

  	
  19

  
	
   

  	
   

  	
   

  
	
  19.

  	
  NOTICES

  	
  19

  
	
   

  	
   

  	
   

  
	
  20.

  	
  GOVERNING
  LAW

  	
  19

  
	
   

  	
   

  	
   

  
	
  21.

  	
  JURISDICTION

  	
  19

  

 

 

BOND AND FLOATING CHARGE

 

by

 

1.         TELEWEST
COMMUNICATIONS (SCOTLAND) LIMITED incorporated under the laws of Scotland
(registered number SC080891) whose registered office is at 1 South Gyle
Crescent Lane, Edinburgh, EH12 9EG (the Company);

 

in favour of

 

2.         DEUTSCHE BANK AG, LONDON BRANCH as security trustee for the
Beneficiaries (the Security Trustee)

 

WHEREAS:

 

(A)          The Lenders have agreed to make available to
the Borrowers (as defined in the Senior Facilities Agreement (as defined
below)) certain credit facilities pursuant to the terms and subject to the
conditions of the Senior Facilities Agreement.

 

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

 

(C)           By an intercreditor deed dated 3 March 2006, as
amended and restated on 13 June 2006, 10 July 2006, 31 July 2006,
15 May 2008, 30 October 2009 and 8 January 2010 (the Group Intercreditor Deed) the Security Trustee, the Facility
Agent, the Original Senior Borrowers, the Original Senior Guarantors, the
Senior Lenders, the Hedge Counterparties, the Intergroup Debtors and the
Intergroup Creditors and certain other members of the Group have agreed to
regulate their relationship as creditors on the terms set out therein.

 

(D)          The board of directors of the Company is satisfied
that the Company is entering into this Instrument for the purposes of its
carrying on business and that its doing so benefits the Company.

 

(E)           The Security Trustee holds the benefit of this
Instrument on trust for itself and the other Beneficiaries on the terms and
subject to the conditions of the Security Trust Agreement and the Group
Intercreditor Deed.

 

1.         INTERPRETATION

 

1.1           In this Instrument:

 

	
  the
  Act

  	
   

  	
  means the
  Companies Act 1985;

  
	
   

  	
   

  	
   

  
	
  Beneficiaries

  	
   

  	
  means the First
  Beneficiary and the Second Beneficiaries;

  
	
   

  	
   

  	
   

  
	
  Charged
  Assets

  	
   

  	
  means the whole of
  the property (including uncalled capital) which is or may be from time to
  time while this Instrument is in force comprised in the property and
  undertaking of the Company;

  

 

 

	
  Chargors

  	
   

  	
  means each of the
  Original Charging Companies and each of the Original Charging Partnerships;

  
	
   

  	
   

  	
   

  
	
  Debenture

  	
   

  	
  means the
  composite debenture dated on or about the date hereof among, inter alios, the companies listed therein as Original
  Charging Companies (including the Company), the partnerships listed therein
  as the Original Charging Partnerships and Deutsche Bank AG, London Branch as
  Security Trustee for the Beneficiaries;

  
	
   

  	
   

  	
   

  
	
  Default
  Rate

  	
   

  	
  means the rate
  specified in Clause 28.2 of the Senior Facilities Agreement or, upon its
  repayment in full and cancellation of all undrawn commitments thereunder such
  equivalent provision in the Relevant Facilities Agreement;

  
	
   

  	
   

  	
   

  
	
  Designated
  Secured Obligations

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Enforcement
  Date

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Event
  of Default

  	
   

  	
  means each of:  

   

  (a)   a Senior Default; and  

   

  (b)   an event of default or termination event
  (however described) under any Hedging Agreement;

  
	
   

  	
   

  	
   

  
	
  Excluded
  Charged Assets

  	
   

  	
  has the meaning
  given to such term in Clause 4.2 of this Instrument;

  
	
   

  	
   

  	
   

  
	
  Indemnified
  Party

  	
   

  	
  has the meaning
  set out in Clause 14.3;

  
	
   

  	
   

  	
   

  
	
  Insolvency
  Act

  	
   

  	
  means the
  Insolvency Act 1986;

  

 

 

	
  Instructing
  Party

  	
   

  	
  has the meaning
  given to it in the Group Intercreditor Deed;

  
	
   

  	
   

  	
   

  
	
  Liability

  	
   

  	
  means any
  obligation or liability for the payment of money, whether in respect of
  principal, interest or otherwise, owed jointly or severally and whether owed
  as principal or surety or in any other capacity;

  
	
   

  	
   

  	
   

  
	
  Original
  Charging Companies

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Original
  Charging Partnerships

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Permitted
  Disposal

  	
   

  	
  means any disposal
  permitted under Clause 25.4 of the Senior Facilities Agreement or upon its
  repayment in full and cancellation of all undrawn commitments thereunder such
  equivalent provision in the Relevant Facilities Agreement;

  
	
   

  	
   

  	
   

  
	
  Realisation
  Accounts

  	
   

  	
  means each account maintained from time to time
  by the Security Trustee for the purposes of Clause 7.6;

  
	
   

  	
   

  	
   

  
	
  Receiver

  	
   

  	
  means any receiver
  or administrative receiver appointed in respect of all or any of the Charged
  Assets (whether pursuant to this Instrument, pursuant to any statute, by a
  Court or otherwise) and includes joint receivers;

  
	
   

  	
   

  	
   

  
	
  Relevant
  Facilities Agreement

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Restricted
  Lease

  	
   

  	
  has the meaning
  given to it in the Debenture;

  
	
   

  	
   

  	
   

  
	
  Rule 3-16

  	
   

  	
  has the meaning
  given to such term in “Designated Secured
  Obligations”;

  

 

 

	
  SEC

  	
   

  	
  means the United
  States Securities and Exchange Commission;

  
	
   

  	
   

  	
   

  
	
  Secured
  Obligations

  	
   

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

   

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

   

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

   

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

  
	
   

  	
   

  	
   

  
	
  Securities
  Act

  	
   

  	
  means the United
  States Securities Act of 1933, as amended;

  
	
   

  	
   

  	
   

  
	
  Security
  Provider

  	
   

  	
  means any person
  who has granted or may at any time hereafter grant any security interest for
  the Secured Obligations;

  
	
   

  	
   

  	
   

  
	
  Security
  Trust Agreement

  	
   

  	
  means the security
  trust agreement dated 3 March 2006 and amended and restated on or about the
  date of this Instrument between Deutsche Bank AG, London Branch as Security
  Trustee and as Facility Agent, Virgin Media Investment Holdings Limited
  (formerly known as NTL Investment Holdings Limited) and the companies named
  therein as Original Obligors;

  
	
   

  	
   

  	
   

  
	
  Senior
  Facilities Agreement

  	
   

  	
  means the senior facilities agreement dated 3
  March 2006 (as amended and restated on 22 May 2006, 10 July 2006, 10 August 2006,
  4 April 2007, 15 May 2008, 10 November 2008, 30 October 2009 and 8 January 2010
  and as amended, restated, supplemented or novated from time to time between
  Virgin Media Inc., Virgin Media Finance plc, Virgin Media Investment Holdings
  Limited (formerly known as NTL Investment Holdings Limited), Telewest
  Communications Network Limited, VMIH Sub Limited (formerly 

  

 

 

	
   

  	
   

  	
  known as NTLIH Sub Limited) as UK Borrowers,
  Virgin Media Dover LLC (formerly known as NTL Dover LLC) as US Borrower,
  Deutsche Bank AG, London Branch, J.P. Morgan plc, The Royal Bank of Scotland
  plc and Goldman Sachs International as Bookrunners and as Mandated Lead
  Arrangers, Deutsche Bank AG, London Branch as Facility Agent and as Security
  Trustee, Deutsche Bank AG, New York Branch as US Paying Agent, GE Corporate
  Banking Europe SAS as Administrative Agent, Deutsche Bank AG, London Branch
  as Original L/C Bank and the persons named therein as Lenders;

  
	
   

  	
   

  	
   

  
	
  Senior
  Secured Notes

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Senior
  Secured Notes Documents

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Senior Secured Notes Indenture

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Shares

  	
   

  	
  means all shares in the
  capital of any company now or in the future legally or beneficially owned by
  the Company and/or any nominee on behalf of the Company.

  

 

1.2        Successors and assigns

 

The expressions “Senior Lenders”, “Beneficiaries”, “Chargor”, “Senior
Finance Party”, “Company”, “Original Charging Company”, “Original Charging
Partnership”, “Relevant Agent”, “Security Provider” and “Security Trustee”
include, where the context admits, their respective successors, permitted
assigns and transferees and, in the case of the Lenders, their Transferees and,
in the case of the Security Trustee, such other person as may from time to time
be appointed as Security Trustee for the Beneficiaries pursuant to the
provisions of the Security Trust Agreement.

 

1.3        Agreement definitions

 

Unless the context otherwise requires or unless otherwise defined in
this Instrument, words and expressions defined in the Group Intercreditor Deed
and (unless otherwise 

 

 

defined in the Group Intercreditor Deed) the Relevant Facilities
Agreement shall have the same meaning when used in this Instrument (including
its recitals).

 

1.4        Headings

 

Clause and schedule headings and the contents page are
inserted for convenience of reference only and shall be ignored in the
interpretation of this Instrument.

 

1.5           Construction
of certain terms

 

In this Instrument, unless the context otherwise requires:

 

(a)        references to
clauses and the schedules are to be construed as references to the
clauses of, and the schedules to, this Instrument and references to this
Instrument include its schedules;

 

(b)        references to (or to any
specified provision of) this Instrument or any other agreement or document
shall be construed as references to this Instrument, that provision, that
agreement or that document as in force for the time being and as from time to
time amended, supplemented, varied, extended, restated, replaced or novated in
accordance with the terms thereof, or, as the case may be, with the agreement
of the relevant parties and (where such consent is, by the terms of any
Security Document or the relevant document, required to be obtained as a
condition to such amendment being permitted) the prior written consent of the
Relevant Agent, the Security Trustee, all of the Beneficiaries, an Instructing
Party or all or any of the other Senior Finance Parties (as the case may be);

 

(c)        references to a regulation include any present or future regulation, rule,
directive, requirement, request or guideline (whether or not having the force
of law) of any agency, authority, central bank or government department or any
self-regulatory or other national or supra-national authority;

 

(d)      words
importing the plural shall include the singular and
vice versa;

 

(e)        references to a time of day
are to London time;

 

(f)         references to a person shall be construed as including references to an
individual, firm, company, corporation, unincorporated body of persons or any
state or any agency thereof and that person’s successors in title;

 

(g)        references to a guarantee include references to an indemnity or other
assurance against financial loss including, without limitation, an obligation
to purchase assets or services as a consequence of a default by any other
person to pay any Indebtedness and guaranteed
shall be construed accordingly;

 

(h)        references to any enactment
shall be deemed to include references to such enactment as re-enacted, amended
or extended;

 

(i)         references to business in
relation to the Company means any business referred to in the definition of
Group Business in the Senior Facilities Agreement or, upon its repayment in
full and cancellation of all undrawn commitments thereunder, the equivalent
definition in the Relevant Facilities Agreement, which the Company engages in,
and references to ordinary course of business shall be similarly
construed; and

 

 

(j)         references in this
Instrument to a fixed security shall be construed a reference to a fixed
security as defined by Section 486 of the Act as in force at the date
hereof.

 

1.6           Group
Intercreditor Deed

 

This Instrument
should be read and construed subject to the terms of the Group Intercreditor
Deed.  In the event of any inconsistency
between the terms of this Instrument and the Group Intercreditor Deed, the
terms of the Group Intercreditor Deed shall prevail.

 

1.7           Secured
Liabilities

 

It is acknowledged and agreed that (without prejudice to the extension
of the Secured Obligations to any other Indebtedness from time to time included
within the definition thereof) as at the date hereof, the Secured Obligations
shall include:

 

(a)        all Liabilities under the
Senior Facilities Agreement; and

 

(b)      all
Liabilities under the Senior Secured Notes Documents.

 

2.          BOND

 

2.1        The Company hereby
covenants that it will on demand made on it by the Security Trustee pay to the
Security Trustee for the account of the relevant Beneficiaries any Secured
Obligation which is due and payable but unpaid.

 

2.2        Any statement of account of
the Company, signed as correct by an officer of the Security Trustee, showing
the amount of any Secured Obligations of the Company shall be prima facie
evidence as to the amount of the Secured Obligations of the Company from time
to time.

 

2.3        The Company warrants that
it has not taken or received, and undertakes that until all the Secured
Obligations have been paid or discharged in full it will not, without the
consent in writing of the Security Trustee, take or receive any security from
any other Chargor or any other person in respect of its obligations under
this Instrument.

 

2.4        All payments to be made by
the Company under this Instrument shall be made in full, without any set-off or
counterclaim or plea of compensation whatsoever and free and clear of any
deductions or withholdings in the relevant currency on the due date to such
account as the Security Trustee may from time to time specify.

 

2.5        Until all the Secured
Obligations have been paid, discharged or satisfied in full (and
notwithstanding payment of a dividend in any liquidation or under any
compromise or arrangement or the discharge by any person of its liability) the
Company agrees that without the prior written consent of the Security Trustee
it will not:

 

(a)        exercise its rights of subrogation, reimbursement and indemnity against
any other Chargor or any other person;

 

(b)        save as otherwise permitted and not restricted in each of the Senior
Finance Documents, the Refinancing Facilities Agreements and the Group
Intercreditor Deed, demand or accept repayment in whole or in part of any
obligations or liabilities now or hereafter due to the Company from any other Chargor
or any 

 

 

Security Provider or demand or accept any
guarantee or any other document or instrument (including, without limitation,
any other document or instrument creating or evidencing a mortgage, charge
(whether fixed or floating), pledge, lien, hypothecation, assignment, trust
arrangement or security interest of any kind) in respect of such obligations or
liabilities or dispose of the same;

 

(c)        take any step to enforce any right against any other Chargor or any
Security Provider in respect of any such obligations or liabilities; or

 

(d)        claim any set-off or counter-claim in respect of any such obligations or
liabilities against any other Chargor or any Security Provider or claim or
prove in competition with the Security Trustee or any of the Beneficiaries in
the bankruptcy, liquidation or administration of any other Chargor or any
Security Provider or have the benefit of, or share in, any payment from or
composition with any other Chargor or any Security Provider or any other
Security Document now or hereafter held by the Security Trustee or any of the
Beneficiaries for any obligations or liabilities of any other Chargor or any
Security Provider but so that, if so directed by the Security Trustee, it will
prove for the whole or any part of its claim in the liquidation of any other
Chargor or any Security Provider on terms that the benefit of such proof and of
all money received by it in respect thereof shall be held on trust for the
Security Trustee and applied in or towards discharge of the Secured Obligations
in accordance with the provisions of the Group Intercreditor Deed and Security
Trust Agreement.

 

2.6        Recoveries
by the Company

 

If contrary to
Clause 2.3 or 2.5 the Company takes or receives the benefit of any security or
receives or recovers any money or other property, such security, money or other
property shall be held on trust for the Security Trustee and shall be delivered
to the Security Trustee on demand.

 

3.          FLOATING
CHARGE

 

3.1        The Company, being a
company incorporated in Scotland, as security for the payment and discharge of
all the Secured Obligations HEREBY GRANTS in favour  of the Security Trustee for itself and
as  trustee  for 
the Beneficiaries a floating charge over the whole of the Charged Assets
PROVIDED THAT, for the avoidance of doubt, the floating charge shall not attach
to any plant or machinery, or any lease interest therein, which is the subject
of a lease where the title thereto vests in the relevant lessor and not the
Company.

 

3.2        The floating charge hereby
created shall rank pari passu with the floating charge
created by the Debenture, and, subject to Section 464(2) of the Act,
rank in priority to any fixed security which shall be created by the Company
after its execution hereof (other than a fixed security in favour of the
Security Trustee for itself and/or as trustee aforesaid) and to any other
floating charge which shall be created by the Company after its execution
hereof and, subject as aforesaid, no such fixed security nor such other
floating charge shall rank in priority to or equally with or postponed to the
floating charge hereby created by it.

 

3.3        Paragraph 14 of Schedule B1 to the Insolvency
Act 1986 (as amended by Schedule 16 of the Enterprise Act 2002) will apply to
any floating charge created pursuant to this Instrument.

 

 

3.4        Notwithstanding Clause 3.1,
unless and until the Company has obtained the consent of the relevant landlord
and any other relevant party (each being a Consent) the
floating charge granted pursuant to Clause 3.1 shall not extend to the Company’s
rights over any Restricted Lease.  Unless
the Company has received a written confirmation from the Security Trustee that
a particular Consent is not required, the Company hereby undertakes to use its
reasonable endeavours to obtain the Consents. 
On obtaining each Consent the Restricted Lease shall thereupon
automatically become subject to the floating charge created pursuant to Clause
3.1 and the Company shall immediately produce evidence of such Consent to the
Security Trustee.

 

3.5        The Company hereby warrants
that it is not a party to any Restricted Lease and that, accordingly, no
Consents are required in respect of any of the Charged Assets.

 

4.             RULE 3-16 LIMITATION

 

4.1           Clause 3 of this Instrument notwithstanding, the
Excluded Charged Assets are not charged under this Instrument to secure the
Designated Secured Obligations. For the avoidance of doubt,

 

(a)     all other Shares remain charged or assigned (as the
case may be) under this Instrument to secure all Secured Obligations, including
without limitation the Designated Secured Obligations; and

 

(b)     such Excluded Charged Assets remain charged under
Clause 3 of this Instrument to secure any Secured Obligations that are not
Designated Secured Obligations.

 

4.2           “Excluded Charged
Assets” in relation to any Designated Secured Obligations means any
Shares or other securities of a Subsidiary of Virgin Media Inc. (excluding the
Shares or other securities issued by Virgin Media Investments Limited or any
successor entity upon any merger, reorganisation or other restructuring
effecting it) that are owned by the Company to the extent that pledging or
assigning such Shares or other securities under this Instrument to secure such
Designated Secured Obligations would result in Rule 3-16 requiring
separate financial statements of such Subsidiary to be filed with the SEC, but (i) only
to the extent necessary to not be subject to such requirement, (ii) only
for so long as such requirement is in existence and (iii) only if no
member of the Group files or is otherwise required to file separate financial
statements of such Subsidiary with the SEC under a separate rule or
regulation; provided that no
Shares or securities will constitute Excluded Charged Assets if any member of
the Group takes any action in the form of a reorganisation, merger or other
restructuring, a principal purpose of which is to provide for the limitation of
the pledge and/or assignment of any Shares or other securities pursuant to
Clause 4.1.

 

4.3           In the event that Rule 3-16 is amended, modified
or interpreted by the SEC to require (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, which would
require) the filing with the SEC (or any other United States federal or state
governmental agency) of separate financial statements of any such Subsidiary
due to the fact that such Subsidiary’s Shares or other securities secure any
Designated Secured Obligations, then such Shares or other securities (as
applicable) of such Subsidiary shall automatically be deemed to be Excluded
Charged Assets for such Designated Secured Obligations but (i) only to the
extent necessary to not be subject to any such financial statement requirement,
(ii) only for so long as such financial statement requirement would
otherwise have been 

 

 

applicable to such Subsidiary and (iii) only if no member of the
Group files or is otherwise required to file separate financial statements of
such Subsidiary with the SEC or such other governmental agency under a separate
rule or regulation. If the circumstances described in this paragraph (c) apply,
this Instrument may be amended or modified, without the consent of any Senior
Finance Party, to the extent necessary to release the charge (but only to the
extent securing such Designated Secured Obligations and without prejudice to
the charge securing Secured Obligations referred to in Clause 4.1(b)) in favour
of the Security Trustee on the relevant Shares and/or other securities that are
so deemed to constitute Excluded Charged Assets.

 

4.4           In the event that Rule 3-16
is amended, modified or interpreted by the SEC to permit (or is replaced with
another rule or regulation, or any other law, rule or regulation is
adopted, which would permit) such Subsidiary’s Shares and/or other securities
to secure any Designated Secured Obligations in excess of the amount then
pledged without the filing with the SEC (or any other United States federal or
state governmental agency) of separate financial statements of such Subsidiary,
then the Shares or other securities (as applicable) of such Subsidiary will
automatically be deemed not to be Excluded Charged Assets for such Designated
Secured Obligations, but limited to the extent necessary to not be subject to
any such financial statement requirement. If the circumstances described in
this paragraph 4.4 apply, this Instrument may be amended or modified, without
the consent of any Senior Finance Party, to the extent necessary to charge in
favour of the Security Trustee such additional Shares or other securities that
were deemed to constitute Excluded Charged Assets.

 

5.          UNDERTAKINGS

 

The Company hereby undertakes with the
Security Trustee that until the security constituted by this Instrument is
released in accordance with the following provisions:

 

(i)            the provisions of Clause 5
of the Debenture shall apply mutatis mutandis
as if set out herein but so that references therein to Chargor and this Deed
shall be construed herein as references to the Company and this Instrument
respectively;

 

(ii)           the Company will comply
with all its obligations under the Senior Finance Documents; and

 

(iii)          the Company will notify the
Security Trustee forthwith in the event that any claim or notice against it or
any of the Charged Assets is received from any other party which is likely to
materially prejudice the value of the Charged Assets and of all matters
relevant thereto.

 

6.         SET-OFF

 

6.1        The Company hereby agrees that after the
Enforcement Date the Security Trustee and/or each other Beneficiary may at any
time without notice, notwithstanding any settlement of account or other matter
whatsoever, combine or consolidate all or any of its then existing accounts
wheresoever situate (including accounts in the name of the Security Trustee,
such other Beneficiary or of the Company jointly with others), whether such
accounts are current, deposit, loan or of any other nature whatsoever, whether
they are subject to notice or not and whether they are denominated in Sterling
or in any other currency, and set-off or transfer any sum standing to the credit
of any one or more such accounts in or towards satisfaction of the Secured
Obligations owed 

 

 

to the Security
Trustee and/or such other Beneficiary which, to the extent not then payable,
shall automatically become payable to the extent necessary to effect such
set-off.

 

6.2        For the purpose of Clause 6.1, the Company
authorises the Security Trustee and each other Beneficiary to purchase with the
moneys standing to the credit of such accounts such other currencies as may be
necessary to effect such applications at the spot rate of exchange (as, save in
the case of manifest error, conclusively determined by the Security Trustee or
the relevant other Beneficiary) prevailing in the London foreign exchange
market for purchasing Sterling with the currency in which the sum standing to
the credit of the relevant account is denominated.

 

7.         ENFORCEMENT

 

7.1        If (and only if) the
Enforcement Date has occurred this Instrument shall become enforceable.

 

7.2        At any time: (i) on or
after the Enforcement Date; or (ii) if the Board of Directors of the
Company requests that a Receiver or administrator be appointed forthwith; or (iii) a
petition is presented for the making of an administration order of the Company,
the power to appoint a Receiver or administrator of the Charged Assets shall
be  immediately exercisable in relation
to the security created by the Company by or pursuant  to this 
Instrument, and the Security Trustee may then (i) by instrument in
writing appoint any person or persons (if more than one with power to act both
jointly and severally) to be a Receiver of the Charged Assets, or (ii) appoint
an administrator of the Company pursuant to paragraph 14 of Schedule B1 to the
Insolvency Act 1986.  In addition and
without prejudice to the foregoing provisions of this sub-clause, in the event
that any person appointed in pursuance hereof to be a Receiver as aforesaid
shall be removed by a Court or shall otherwise cease to act as such, then the
Security Trustee shall be entitled so to appoint another person as Receiver in
his place.

 

7.3        A Receiver so appointed
shall have and be entitled to exercise all the powers conferred upon such a
Receiver by the Insolvency Act and in addition to and without limiting these
powers, such Receiver shall have power to:

 

7.3.1        implement and exercise all
or any of the Company’s powers and/or rights and/or obligations under any
contract or other agreement forming a part of the Charged Assets;

 

7.3.2       make
any arrangement or compromise which he shall think expedient of or in respect
of any claim by or against the Company;

 

7.3.3       subscribe
for or acquire for cash or otherwise any share capital of such new company or
corporation in the name of the Company and on its behalf and/or in the name(s) of
a nominee(s) or trustee(s) for it;

 

7.3.4       sell,
feu, assign, transfer, exchange, hire out, grant leases of or otherwise dispose
of or realise the Charged Assets or any part thereof to any such new company or
corporation and accept as consideration or part of the consideration therefor
in the name of the Company and on its behalf and/or in the name(s)  of any
nominee(s) or trustee(s) for it any shares or further shares in any
such company or corporation or allow the payment of the whole or any part of
such consideration to remain deferred or outstanding by way of loan or debt or
credit;

 

 

7.3.5                        sell, feu, assign, transfer,
exchange, hire out, grant leases of or otherwise dispose of or realise on
behalf of the Company any such shares or deemed consideration or part thereof
or any rights or benefits attaching thereto;

 

7.3.6                      convene an extraordinary general meeting of the Company;

 

7.3.7                      acquire any property on
behalf of the Company;

 

7.3.8                      in respect of any assets of
the Company situated in England and Wales, 
exercise in addition to the foregoing all the powers conferred by the
Insolvency Act or any other enactment or under law on Receivers appointed in
that jurisdiction;

 

7.3.9                      take possession of, collect
and get in all or any of the Charged Assets;

 

7.3.10                carry on, manage, develop,
reconstruct, amalgamate or diversify the business of the Company or any part
thereof or concur in so doing; lease or otherwise acquire and develop or
improve properties or other assets without being responsible for loss or damage
subject to the terms of this Instrument;

 

7.3.11                raise or borrow any money
from or incur any other Liability to the Security Trustee or the Beneficiaries
or others on such terms with or without security as he may think fit and so
that any such security may be or include a charge on the whole or any part of
the Charged Assets ranking in priority to the security created by this
Instrument or otherwise;

 

7.3.12                sell by public auction or
private contract, let, surrender or accept surrenders, grant licences or
otherwise dispose of or deal with all or any of the Charged Assets or concur in
so doing in such manner for such consideration and generally on such terms and
conditions as he may think fit with full power to convey, let, surrender,
accept surrenders or otherwise transfer or deal with such Charged Assets in the
name and on behalf of the Company or otherwise and so that covenants and
contractual obligations may be granted and assumed in the name of and so as to
bind the Company (or other estate owner) if he shall consider it necessary or
expedient so to do; any such sale, lease or disposition may be for cash,
debentures or other obligations, shares, stock, securities or other valuable
consideration and be payable immediately or by instalments spread over such
period as he shall think fit and so that any consideration received or
receivable shall ipso facto forthwith be and become charged with the payment of
all the Secured Obligations; plant, machinery and other fixtures may be severed
and sold separately from the premises containing them and the Receiver may
apportion any rent and the performance of any obligations affecting the
premises sold without the consent of the Company;

 

7.3.13                promote the formation of
companies with a view to the same becoming a Subsidiary of the Chargor
concerned and purchasing, leasing, licensing or otherwise acquiring interests
in all or any of the Charged Assets or otherwise, arrange for such companies to
trade or cease to trade and to purchase, lease, license or otherwise acquire
all or any of the Charged Assets on such terms and conditions whether or not
including payment by instalments secured or unsecured as he may think fit;

 

 

7.3.14                make and effect such
repairs, renewals and improvements to the Charged Assets or any part thereof as
he may think fit and maintain, renew, take out or increase insurances;

 

7.3.15                appoint managers, agents,
officers and employees for any of the purposes referred to in this
Clause 7 or to guard or protect the Charged Assets at such salaries and
commissions and for such periods and on such terms as he may determine and may
dismiss the same;

 

7.3.16                make calls conditionally or
unconditionally on the members of the Company concerned in respect of uncalled
capital and institute, continue, enforce, defend, settle or discontinue any
actions, suits or proceedings in relation to the Charged Assets or any part
thereof or submit to arbitration as he may think fit;

 

7.3.17                sign any document, execute
any deed and do all such other acts and things as may be considered by him to
be incidental or conducive to any of the matters or powers aforesaid or to the
realisation of the security created pursuant to this Instrument of the Security
Trustee and the Beneficiaries and to use the name of the Company concerned for
all the purposes aforesaid;

 

7.3.18                do all the acts and things
described in schedules 1 or 2 to the Insolvency Act as if the words he and him
referred to the Receiver and company referred to the Company;

 

7.3.19                do all such other acts and
things as he may consider necessary or desirable for protecting or realising
the Charged Assets or any part thereof or incidental or conducive to any of the
matters, powers or authorities conferred on a Receiver under or by virtue of or
pursuant to this Instrument, and exercise in relation to the Charged Assets or
any part thereof all such powers and authorities and do all such things as he
would be capable of exercising or doing if he were the absolute beneficial
owner of the same;  and use the name of
the Company for all and any of the purposes aforesaid; and

 

7.3.20                do all or any of the acts
and things specified in Clause 9 of the Debenture which are not specified in
this Clause 7.3

 

7.4                       In the exercise of the
powers hereby conferred any Receiver may sever and sell plant, machinery or
other fixtures separately from the property to which they may be annexed.

 

7.5                       No purchaser or other
person shall be bound or concerned to see or enquire whether the right of the
Security Trustee or any Receiver to exercise any of the powers conferred by
this Instrument has arisen or not or be concerned with notice to the contrary
or with the propriety of the exercise or purported exercise of such powers.

 

7.6                       If the Security Trustee (whether by the appointment of
a Receiver or otherwise) enforces the security created pursuant to this
Instrument the Security Trustee (or such Receiver) may:

 

7.6.1                      open and maintain with such
bank or banks (or other financial institutions) as it thinks fit one or more
Realisation Accounts;

 

 

7.6.2                      pay the proceeds of any
recoveries effected by it into any such number of Realisation Accounts as it
considers appropriate; and

 

7.6.3                      subject to the payment of
any claims having priority to the security created pursuant to this Instrument,
withdraw amounts standing to the credit of the Realisation Accounts to:

 

7.6.4                      discharge all costs,
charges and expenses incurred and payments made by the Security Trustee (or
such Receiver) in the course of such enforcement;

 

7.6.5                      pay remuneration to the
Receiver as and when the same becomes due and payable; and

 

7.6.6                      discharge the Secured
Obligations as and when the same become due and payable.

 

8.                            OFFICE
OF RECEIVER

 

8.1                       Any Receiver appointed
under Clause 7 shall be the agent of the Company for all purposes and (subject
to the provisions of the Insolvency Act) the Company alone shall be responsible
for his contracts, engagements, acts, omissions, defaults and losses and for
liabilities incurred by him and for his remuneration and his costs, charges and
expenses, and the Security Trustee shall not incur any liability therefor
(either to the Company or any other person) by reason of the Security Trustee
making his appointment as such Receiver or for any other reason whatsoever.

 

8.2                       Any Receiver appointed
shall be entitled to remuneration appropriate to the work and responsibilities
involved upon the basis of charging from time to time adopted by the Receiver
in accordance with the current practice of the Receiver or his firm.

 

9.                            APPLICATION
OF ENFORCEMENT MONEYS

 

All moneys received by the Security Trustee or by any Receiver shall be
applied, after the discharge of the remuneration and expenses of the Receiver
and all liabilities having priority to the Secured Obligations, in or towards
satisfaction of the Secured Obligations in accordance with the terms of the
Group Intercreditor Deed and the Security Trust Agreement, except that the
Security Trustee may credit the same to a suspense account for so long and in
such manner as the Security Trustee may from time to time determine and the
Receiver may retain the same for such period as he and the Security Trustee
consider expedient.

 

10.                     RELEASE
AND DISCHARGE

 

10.1                 The Security Trustee acting
on behalf of the Beneficiaries under the Senior Finance Documents may at any
time release the Company from any or all of its obligations under or pursuant
to this Instrument and/or all or any part of the Charged Assets from the
security created by this Instrument upon such terms as the Security Trustee may
think fit but nothing in this Instrument does, shall or is intended to
constitute a release of any of the Charged Assets.

 

10.2                 Upon the satisfaction in
full of all of the Secured Obligations and there no longer being any obligation
on any Beneficiary to make any of the Secured Obligations available, then
subject only to Clause 10.3, the Security Trustee shall, at the request and cost
of 

 

 

the Company, execute and do all such deeds, acts and things as may be
necessary to release the Charged Assets from the security constituted, and to
reassign the property and assets assigned to the Security Trustee, hereby.

 

10.3                 Any release, discharge or
settlement between the Company and the Security Trustee shall be conditional
upon no security, disposition or payment to the Security Trustee or any of the
Beneficiaries by any Chargor or any other person being void, set aside or
ordered to be refunded pursuant to any enactment or law relating to bankruptcy,
liquidation, administration or insolvency or for any other reason whatsoever
and if such condition shall not be fulfilled the Security Trustee shall be
entitled to enforce this Instrument subsequently as if such release, discharge
or settlement had not occurred and any such payment had not been made.  The Security Trustee shall be entitled to
retain the security created pursuant to this Instrument after as well as before
the payment, discharge or satisfaction of all moneys, obligations and
liabilities that are or may become due owing or incurred to the Security
Trustee and the Beneficiaries from any Chargor for such period as the Security
Trustee may reasonably determine being not longer than 13 months following the
date of payment, discharge or satisfaction of the Secured Obligations in full.

 

10.4                 The Security Trustee shall,
at the request and cost of the Company, execute such letters of
non-crystallisation as may be reasonably necessary to permit any Permitted
Disposal of the Charged Assets.

 

11.                     PROTECTION
OF SECURITY

 

11.1                 The security created by
this Instrument shall be a continuing security notwithstanding any settlement
of account or other matter or thing whatsoever, and in particular (but without
prejudice to the generality of the foregoing) shall not be considered satisfied
by an intermediate repayment or satisfaction of part only of the Secured
Obligations, and shall continue in full force and effect until total and
irrevocable satisfaction of all the Secured Obligations.

 

11.2                 The security created by
this Instrument shall be in addition to and shall not in any way prejudice or
be prejudiced by any collateral or other security, right or remedy which the
Security Trustee may now or at any time hereafter hold for all or any part of
the Secured Obligations.

 

11.3                 No failure on the part of
the Security Trustee or any Beneficiary to exercise and no delay on its part in
exercising any right, remedy, power or privilege under or pursuant to this Instrument
or any other document relating to or securing all or any part of the Secured
Obligations will operate as a waiver thereof, nor will any single or partial
exercise of any right or remedy preclude any other or further exercise thereof
or the exercise of any other right or remedy. 
The rights and remedies provided in this Instrument and any such other
document are cumulative and not exclusive of any right or remedies provided by
law.

 

11.4                 Each of the provisions in
this Instrument shall be severable and distinct from one another and if at any
time any one or more of such provisions is or becomes or is declared null and
void, invalid, illegal or unenforceable in any respect under any law or
otherwise howsoever the validity, legality and enforceability of the remaining
provisions hereof shall not in any way be affected or impaired thereby.

 

11.5                 If the Security Trustee or
any Beneficiary receives or is deemed to be affected by notice whether actual
or constructive of any subsequent security or other interest affecting any part
of the Charged Assets and/or the proceeds of sale thereof, the 

 

 

Security Trustee or such Beneficiary may open a new account or accounts
for the Company.  If the Security Trustee
or such Beneficiary does not open a new account it shall nevertheless be
treated as if it had done so at the time when it received or was deemed to have
received notice and as from that time all payments made to the Security Trustee
or such Beneficiary shall be credited or be treated as having been credited to
the new account and shall not operate to reduce the amount for which this
Instrument is security.

 

11.6                 Neither the security
created by this Instrument nor the rights, powers, discretions and remedies
conferred upon the Security Trustee by this Instrument or by law shall be
discharged, impaired or otherwise affected by reason of:

 

11.6.1                any other present or future
security, guarantee, indemnity or other right or remedy held by or available to
the Security Trustee or any Beneficiary being or becoming wholly or in part
void, voidable or unenforceable on any ground whatsoever or by the Security
Trustee or any Beneficiary from time to time exchanging, varying, realising,
releasing or failing to protect or enforce any of the same; or

 

11.6.2                the Security Trustee or any
Beneficiary compounding with, discharging or releasing or varying the liability
of, or granting any time, indulgence or concession to, the Company or any other
person or renewing, determining, varying or increasing any accommodation or
transaction in any manner whatsoever or concurring in accepting or varying any
compromise, arrangement or settlement or omitting to claim or enforce payment
from the Company or any other person; or

 

11.6.3                any act or omission which
would not have discharged or affected the liability of the Company had it been
a principal debtor instead of cautioner or by anything done or omitted which
but for this provision might operate to exonerate the Company  from the Secured Obligations; or

 

11.6.4                  any legal limitation,
disability, Incapacity or other similar circumstance relating to the
Company.

 

11.7                 The Security Trustee shall
not be obliged, before exercising any of the rights, powers or remedies
conferred upon it by or pursuant to this Instrument or by law, to:

 

11.7.1                take any action or obtain
judgment or decree in any Court against the Company;

 

11.7.2                make or file any claim to
rank in a winding-up or liquidation of the Company; or

 

11.7.3                enforce or seek to enforce
any other security taken, or exercise any right or plea available to the
Security Trustee, in respect of any of the Company’s obligations under the
Security Documents other than this Instrument.

 

12.                     FURTHER
ASSURANCE

 

The Company shall
execute and do all such assurances, acts and things as the Security Trustee shall
from time to time reasonably require for perfecting or protecting the security
created by or pursuant to this Instrument over the Charged Assets or, on or
after the Enforcement Date, for facilitating the realisation of such assets and
the exercise of all powers, authorities and discretions vested in the Security
Trustee or in 

 

 

any Receiver and
shall, in particular, execute all fixed securities, floating charges,
assignations, securities, transfers, dispositions and assurances of the Charged
Assets whether to the Security Trustee or to its nominee(s) or otherwise
and give all notices, orders and directions which the Security Trustee may
think expedient, acting reasonably, which fixed securities over heritable or
leasehold property situated in Scotland shall be standard securities in the
agreed form for property of that type.

 

13.                     MANDATE
AND ATTORNEY

 

13.1                 The Company by way of security hereby
irrevocably appoints each of the Security Trustee and any Receiver or
administrator severally to be its attorney in its name and on its behalf:

 

13.1.1                to execute and complete on
or after the Enforcement Date any documents or instruments which the Security
Trustee or such Receiver or
administrator may require for perfecting the title of the Security Trustee to the
Charged Assets or for vesting the same in the Security Trustee, its nominees or
any purchaser;

 

13.1.2                to sign, execute, seal and deliver and otherwise perfect any further
security document or notice referred to in Clause 12 in accordance with the
terms thereof; and

 

13.1.3                otherwise generally on or after the Enforcement Date to sign, seal,
execute and deliver all deeds, assurances, agreements and documents and to do
all acts and things which may be required for the full exercise of all or any
of the powers conferred on the Security Trustee or a Receiver or administrator
under this Instrument or which may be deemed expedient by the Security Trustee
or a Receiver or administrator in connection with any disposition, realisation or getting in by
the Security Trustee or such Receiver of the Charged Assets or any part thereof
or in connection with any other exercise of any power under this Instrument.

 

13.2                 The Company ratifies and confirms and agrees
to ratify and confirm all acts and things which any attorney as is mentioned in
Clause 13.1 shall do or purport to do in the proper exercise of his powers
under such Clause.

 

14.                     INDEMNITIES;
COSTS AND EXPENSES

 

14.1                 The Company binds and obliges itself for the
whole expenses of completing and enforcing the security hereby granted and the
expenses of any discharge hereof.

 

14.2                 All costs, charges and
expenses incurred and all payments made by the Security Trustee or any Receiver
hereunder in or about the enforcement, preservation or attempted preservation
of the security created by or pursuant to this Instrument or any of the Charged
Assets shall carry interest from the date falling 30 days after the date of
demand for payment of such expenses to the date of payment by the Company at
the Default Rate (both before and after judgment).  The amount of all such costs, charges,
expenses and payments and all interest thereon and all remuneration payable
hereunder shall be payable by the Company on demand and shall be a Secured
Obligation.  All such costs, charges,
expenses and payments shall be paid and charged as between the Security Trustee
or any Receiver and the Company on the basis of a full and unqualified
indemnity.

 

 

14.3                 The Beneficiaries, the Security Trustee and
any Receiver or administrator, attorney, agent or other person appointed by the
Security Trustee under this Instrument and the officers and employees of each
of the aforementioned (each an Indemnified Party)
shall be entitled to be indemnified out of the Charged Assets in respect of all
costs, losses, actions, claims, demands or liabilities whether in contract,
tort, delict or otherwise and whether arising at common law, in equity or by
statute which may be incurred by, or made against, any of them (or by or
against any manager, agent, officer or employee for whose liability, act or
omission any of them may be answerable) at any time relating to or arising
directly or indirectly out of or as a consequence of:

 

14.3.1                anything done or omitted in
the exercise or purported exercise of the powers contained in this Instrument;
or

 

14.3.2                any breach by the Company
of any of its obligations under this Instrument; or

 

14.3.3                an Environmental Claim made
or asserted against an Indemnified Party which would not have arisen if this
Instrument had not been executed and which was not caused by the negligence or
wilful default of the relevant Indemnified Party

 

in each case, except
in the case of fraud, wilful misconduct or gross negligence on the part of an
Indemnified Party.

 

15.                                SECURITY
TRUST AGREEMENT

 

The Company and the
Security Trustee hereby acknowledge that the covenants of the Company contained
in this Instrument and the security and other rights, titles and interests
constituted by this Instrument and the Charged Assets and all other moneys,
property and assets paid to the Security Trustee or held by the Security
Trustee or received or recovered by the Security Trustee pursuant to or in
connection with this Instrument are held by the Security Trustee subject to and
on the terms of the trusts declared in the Security Trust Agreement.

 

16.                                REORGANISATION

 

This Instrument
shall remain binding on the Company notwithstanding any change in the
constitution of the Security Trustee or any Beneficiary or the absorption of
the Security Trustee or any Beneficiary in, or amalgamation with, or the
acquisition of all or part of its undertaking by, any other person, or any
reconstruction or reorganisation of any kind. 
The security granted by this Instrument shall remain valid and effective
in all respects in favour of the Security Trustee as trustee for the
Beneficiaries.

 

17.                                CURRENCIES

 

17.1                          Conversion of currencies

 

All moneys received or held by the Security
Trustee or by a Receiver under this Instrument at any time on or after the
Enforcement Date in a currency other than a currency in which the Secured
Obligations are denominated may from time to time be sold for such one or more
of the currencies in which the Secured Obligations are denominated as the
Security Trustee or Receiver considers necessary or desirable and the Company
shall indemnify the Security Trustee against the full Sterling cost (including
all costs, charges and expenses) properly incurred in relation to such
sale.  

 

 

Neither the Security Trustee nor any Receiver
shall have any liability to the Company in respect of any loss resulting from
any fluctuation in exchange rates after any such sale.

 

17.2                          Currency
indemnity

 

No payment to the Security Trustee (whether
under any judgment or court order or otherwise) shall discharge the obligation
or liability of the Company in respect of which it was made unless and until
the Security Trustee shall have received payment in full in the currency in
which such obligation or liability was incurred.  To the extent that the amount of any such
payment shall on actual conversion into such currency fall short of such
obligation or liability expressed in that currency the Security Trustee shall
have a further separate cause of action against the Company and shall be
entitled to enforce the charges hereby created to recover the amount of the
shortfall.

 

18.                                NO
ASSIGNATION

 

The Company may not
assign or transfer any of its rights or obligations under this Instrument.

 

19.                                NOTICES

 

All notices,
requests, demands and other communications to be given under this Instrument
shall be deemed to be duly given or made when delivered or despatched in
accordance with Clause 20 of the Group Intercreditor Deed.

 

20.                                GOVERNING
LAW

 

This Instrument (and
all non-contractual disputes arising out of it) shall be governed by, and
construed in all respects in accordance with, the law of Scotland.  The Company hereby represents and warrants to
the Security Trustee that its choice of the law of Scotland to govern this
Instrument is valid and binding subject to the Reservations.

 

21.                                JURISDICTION

 

For the benefit of the
Security Trustee and the Beneficiaries, the Company irrevocably agrees that the
Scottish courts are to have jurisdiction to settle any disputes which may arise
out of or in connection with this Instrument and that, accordingly, any suit, action
or proceedings arising out of or in connection with this Instrument (Proceedings) may be brought in any such
court. The Company irrevocably waives any objection to Proceedings in such a
court on the grounds of venue or on the ground that the Proceedings have been
brought in an inconvenient forum.

 

21.                       CONSENT
TO REGISTRATION

 

A Certificate signed
by an officer of the Security Trustee shall, in the absence of manifest error,
be prima facie evidence of the amount of the Secured Obligations at any relevant
time and shall constitute a balance and charge against the Company, and no
suspension of a charge or of a threatened charge for payment of the balance so
constituted shall pass nor any sist of execution thereon be granted except on
consignation.  The Company hereby
consents to the registration of this Instrument and of any such certificate for
preservation:  IN WITNESS
WHEREOF these presents consisting of this and the preceding twenty
two pages are subscribed as follows:

 

 

Subscribed for and
on behalf of

TELEWEST
COMMUNICATIONS (SCOTLAND) LIMITED

acting by its
directors VIRGIN MEDIA DIRECTORS LIMITED and VIRGIN MEDIA

SECRETARIES
LIMITED:

 

Robert Mackenzie
duly authorised by

Virgin Media
Directors Limited to sign on its behalf as director

 

	
   

  	
  /S/ ROBERT MACKENZIE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  in the presence
  of:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ VIERA SULIKOVA

  	
  Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  Viera Sulikova

  	
  Print full name of Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  Address of Witness

  	
   

  	
  Fried, Frank Harris, Shriver & Jacobson
  (London) LLP

  	
   

  
	
   

  	
   

  	
   

  	
  99 City Road

  	
   

  
	
   

  	
   

  	
   

  	
  London EC1Y 1AX

  	
   

  
	
   

  	
   

  	
   

  	
  UNITED KINGDOM

  	
   

  
	
   

  	
   

  	
   

  	
  Tel: +44.20.7972.9600

  	
   

  
	
   

  	
   

  	
   

  	
  Fax: +44.20.7972.9602

  	
   

  

 

all together at

on

 

Robert Gale duly
authorised by

Virgin Media
Secretaries Limited to sign on its behalf as director

 

	
   

  	
  /S/ ROBERT GALE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  in the presence
  of:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ VIERA SULIKOVA

  	
  Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  Viera Sulikova

  	
  Print full name of Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  Address of Witness

  	
   

  	
  Fried, Frank Harris, Shriver & Jacobson (London) LLP

  	
   

  
	
   

  	
   

  	
   

  	
  99 City Road

  	
   

  
	
   

  	
   

  	
   

  	
  London EC1Y 1AX

  	
   

  
	
   

  	
   

  	
   

  	
  United Kingdom

  	
   

  
	
   

  	
   

  	
   

  	
  Tel: +44.20.7972.9600

  	
   

  
	
   

  	
   

  	
   

  	
  Fax: +44.20.7972.9602

  	
   

  

 

all together at

on

 

 

Subscribed for and
on behalf of

DEUTSCHE BANK AG,
LONDON BRANCH acting by

 

	
   

  	
  /s/ NICOLA ANNE DAWES

  	
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  Nicola Anne Dawes

  	
  Print full name of Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ VIKKI ANNE
  MAYELL

  	
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  Vikki Anne Mayell

  	
  Print full name of Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  all together at
  London

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  on

  	
  19th January 2010

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