Document:

Exhibit 10.2

 

ELEVENTH AMENDMENT TO

MASTER TRANSACTION AGREEMENT

 

This
Eleventh Amendment to the Master Transaction Agreement (this “Amendment”),
dated as of May 29, 2009 (the “Amendment Date”), by and among
MXEnergy Inc., a Delaware corporation (the “Counterparty”), MXEnergy
Holdings Inc. (the “Parent”) and certain Subsidiaries thereof, as
guarantors (collectively, the “Guarantors”), and Societe Generale, as
hedge provider (the “Hedge Provider”).

 

PRELIMINARY STATEMENTS

 

A.        Reference is made to each of (i) the Master Transaction
Agreement, dated as of August 1, 2006 (as amended by (A) the First
Amendment to Master Transaction Agreement dated as of April 6, 2007, (B) the
Second Amendment to Master Transaction Agreement dated as of December 17,
2007, (C) the Third Amendment to Master Transaction Agreement dated as of May 12,
2008, (D) the Fourth Amendment to Master Transaction Agreement dated as of
July 31, 2008, (E) the Fifth Amendment to Master Transaction
Agreement dated as of September 30, 2008, (F) the Sixth Amendment to
Master Transaction Agreement dated as of November 4, 2008, (G) the
Seventh Amendment to Master Transaction Agreement dated as of November 7,
2008, (H) the Eighth Amendment to Master Transaction Agreement dated as of
November 17, 2008, (I) the Ninth Amendment to Master Transaction
Agreement dated as of March 16, 2009 (the “Ninth Amendment”), and (J) the
Tenth Amendment to the Master Transaction Agreement dated as of May 15,
2009 (the original Master Transaction Agreement, as amended through the Tenth
Amendment, being herein referred to as the “Master Transaction Agreement”),
among the Counterparty, the Guarantors and the Hedge Provider, (ii) the
ISDA Master Agreement (as defined in the Master Transaction Agreement and
amended to date), and (iii) the Credit Agreement (as defined in the Master
Transaction Agreement and amended to date);

 

B.         The Counterparty and the Guarantors have requested that the
Counterparty amend the Master Transaction Agreement;

 

C.         The Hedge Provider is willing to amend the Master
Transaction Agreement on the terms and conditions set forth herein; and

 

D.         The Hedge Provider and the Counterparty have agreed to
certain other matters relating to the foregoing as set forth herein.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the premises and the covenants and agreements
contained herein, the parties hereto hereby agree as follows:

 

Section 1.           Definitions.
Unless otherwise specifically provided herein, capitalized tenns used but not
defined herein shall have the meanings specified in the Master Transaction
Agreement, the ISDA Master Agreement or the Credit Agreement (as applicable).

 

 

Section 2.           Amendments
to Master Transaction Agreement. The Master Transaction Agreement is hereby
amended, effective as of the Amendment Date, as follows:

 

(a)        The fourth and fifth
paragraphs of the definition of “Milestone” are hereby amended and
restated in their entirety as follows:

 

(iv) June 8, 2009, the Borrowers shall deliver to the Hedge
Counterparty, the Administrative Agent and the Lenders an executed contract for
a Liquidity Event acceptable to all of such parties that does not contemplate
any financing from any of the Revolving Lenders (excluding any Revolving Lender
that separately agrees to participate in any such financing of a Liquidity
Event); and

 

(v) June 8, 2009, a Liquidity Event shall be consummated.

 

(b)      The
Master Transaction Agreement is hereby amended to provide that the Counterparty
hereby agrees to deliver to the Hedge Provider as soon as available (i) fully
executed term sheets pertaining to the Liquidity Event and (ii) copies of
all bondholder consents and agreements required under the Liquidity Event terms
and conditions.

 

(c)       Section 2.06(a) of
the Master Transaction Agreement is hereby amended (1) to change the limit
on Natural Gas Hedging Position Volumes in respect of all Natural Gas Hedging
Transactions from time to time in effect between the Hedge Provider and the
Counterparty (as determined by the Hedge Provider) to 12 Bcf (rather than 25
Bcf), and (2) to allow new Natural Gas Hedging Transactions to be entered
into after June 8, 2009 only if the Counterparty or any successor to the
existing Counterparty, at such date, is acceptable to the Hedge Provider in its
sole discretion.

 

Section 3.           Conditions
to Effectiveness. This Amendment shall be effective on the date when the
Hedge Provider shall have received each of the following, in form and substance
satisfactory to the Hedge Provider (such date, the “Amendment Effective Date”):

 

(a)             counterparts of this Amendment, duly executed and
delivered by the Counterparty and the Guarantors;

 

(b)             evidence of corporate authority satisfactory to the
Hedge Provider, which may include an opinion of outside counsel, regarding the
authority of Counterparty and all Guarantors to execute and deliver this
Amendment and to fulfill their respective obligations hereunder;

 

(c)             evidence satisfactory to the Hedge Provider of any and
all third party consents required in connection with this Amendment; and

 

(d)             a copy of a fully executed Third Amendment and Waiver
amendment in regards to the May 29, 2009 Milestones.

 

Section 4.               Representations and
Warranties. Each Transaction Party hereby jointly and severally represents
and warrants to the Hedge Provider that, as of the Amendment Date and as of the
Amendment Effective Date:

 

(a)             all representations and warranties of such Transaction
Party contained in the Master Transaction Agreement and any other Transaction
Document are true and correct in all material respects with the same effect as
if such representations and warranties had been made 

 

 

on the Amendment Date (it
being understood and agreed that any representation which by its terms is made
as of a specified date shall be required to be true and correct only as of such
specified date);

 

(b)             no Specified Event, and no Event of Default, Termination
Event or Third Party Hedge Agreement Specified Event on the part of any
Transaction Party, has occurred and is continuing;

 

(c)             no authorization, approval, consent, waiver or other
action by, and no notice to or filing with, any Governmental Authority or any
other Person is required for the due execution, delivery and performance by any
Transaction Party of this Amendment;

 

(d)             this Amendment has been duly authorized by all necessary
corporate or other organizational action of each Transaction Party and has been
duly executed and delivered by each Transaction Party; and

 

(e)             this Amendment and the Master Transaction Agreement (as
amended by this Amendment) constitutes a legal, valid and binding obligation of
each Transaction Party, enforceable against each Transaction Party in
accordance with its terms.

 

Section 5.  Release.  As a material part of the consideration for
the Hedge Provider to enter into this Amendment, each Transaction Party, on
behalf of itself and its officers, directors, equity holders, Affiliates,
successors and assigns, hereby releases and forever discharges the Hedge
Provider and their respective predecessors, officers, managers, directors,
shareholders, employees, agents, attorneys, representatives, subsidiaries, and
Affiliates (each a “Hedge Party”) from any and all claims, expenses,
costs, causes of actions or other losses or liabilities of any nature
whatsoever existing on the Eleventh Amendment Effective Date, including, without
limitation, all claims, expenses, costs, causes of actions or other losses or
liabilities for or in respect of contribution and indemnity, whether arising at
law or in equity, whether liability be direct or indirect, liquidated or
unliquidated, whether absolute or contingent, foreseen or unforeseen, and
whether or not heretofore asserted, which any Transaction Party may have or
claim to have against any Hedge Party under, arising out of, in connection
with, or in any way related to, this Amendment or any Hedge Documents.  For the avoidance of doubt, the provisions of
this clause shall survive any termination of the Master Transaction Agreement,
as amended hereby.

 

Section 6.           Consent
of Guarantors; Confirmation of Guarantees and Transaction Documents. Each
Guarantor hereby consents to the execution, delivery and performance of this
Amendment and hereby confirms and agrees that, notwithstanding the
effectiveness of this Amendment, the Guarantee contained in Article VIII
of the Master Transaction Agreement and the terms and provisions of each other
Transaction Document are, and each of the same shall continue to be, in full
force and effect and are hereby ratified and confirmed in all respects.

 

Section 7.           Governing
Law. This Amendment shall be governed by, and construed and enforced in
accordance with. the internal laws of the State of New York without regard to
conflict of laws principles.

 

Section 8.           Entire
Agreement Transaction Document.          Except
to the extent specifically modified and amended by this Amendment, the Master
Transaction Agreement shall remain in full force and effect and is hereby
ratified and confirmed. This Amendment, the Master Transaction Agreement and
the other Transaction Documents constitute the entire 

 

 

agreement
and understanding among the parties and supersede all prior agreements and
understandings, whether written or oral, among the parties hereto concerning
the transactions provided herein and therein. This Amendment is and shall be
deemed to he a Transaction Document in all respects and for all purposes.

 

Section 9.           Execution
in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Amendment by facsimile shall be as
effective as delivery of a manually executed counterpart of this Amendment.

 

Section 10.         Headings.
The headings set forth in this Amendment are and shall be without substantive
meaning or content of any kind whatsoever and are not a part of the agreement
between the parties hereto.

 

Section 11.         Severability.
In case any provision in or obligation under this Amendment shall be invalid,
illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision
or obligation in any other jurisdiction, shall not in any way be affected or
impaired thereby.

 

Section 12.         Legal
Fees. Counterparty and the Guarantors shall pay promptly upon request by
the Hedge Provider, all legal fees incurred by the Hedge Provider in connection
with this Amendment.

 

Section 13.         No Novation.
The parties intend that the execution and deliver of this Amendment shall not
constitute a novation of either Agreement or any Transactions thereunder.

 

{remainder of this page intentionally
left blank}

 

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective duly authorized officers as of the
Amendment Date.

 

	
   

  	
  COUNTERPARTY:

  
	
   

  	
   

  
	
   

  	
  MXENERGY INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/CHAITU
  PARIKH

  
	
   

  	
   

  	
  Vice
  President and Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  MXENERGY ELECTRIC INC. MXENERGY HOLDINGS INC. ONLINE CHOICE INC.

  
	
   

  	
   

  
	
   

  	
  MXENERGY
  GAS CAPITAL HOLDINGS CORP. MXENERGY ELECTRIC CAPITAL HOLDINGS CORP.

  
	
   

  	
   

  
	
   

  	
  MXENERGY
  GAS CAPITAL CORP. MXENERGY ELECTRIC CAPITAL CORP. MXENERGY CAPITAL HOLDINGS
  CORP. MXENERGY CAPITAL CORP. MXENERGY SERVICES INC.

  
	
   

  	
   

  
	
   

  	
  INFOMETER.COM
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/CHAITU
  PARIKH

  
	
   

  	
   

  	
  Vice
  President and Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HEDGE PROVIDER:

  
	
   

  	
   

  
	
   

  	
  SOCIETE GENERALE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/GONZAGUE
  BATAILLE

  
	
   

  	
   

  	
  Managing
  Director

  
	
   

  	
   

  	
  Head
  of Commodity Markets

  
	
   

  	
   

  	
  The
  AmericasExhibit 4.1

 

EXECUTION VERSION

 

€1,235,809,981.78
ADDITIONAL FACILITY U ACCESSION AGREEMENT

 

	
  To:

  	
  Toronto Dominion (Texas) LLC as Facility
  Agent and TD Bank Europe Limited as Security Agent

  
	
   

  	
   

  
	
  From:

  	
  The persons listed in Schedule 1 to this
  Agreement (the Additional Facility U Lenders)

  

 

Date: 3 June 2009

 

UPC Broadband Holding B.V.
(formerly known as UPC Distribution Holding B.V) - €1,072,000,000 Term Credit
Agreement dated 16 January 2004 as amended from time to time (the Credit
Agreement)

 

1.                                       In this Agreement:

 

Additional Facility M
Lender
means each of the lenders under Facility M.

 

Facility M means the €3,640,000,000 term
loan facility made available under the Additional Facility Accession Agreements
dated 12 April 2007, 13 April, 2007, 4 May 2007 and 18 May 2007
respectively and the €250,000,000 term loan facility made available under the
Additional Facility Accession Agreement dated 16 May 2008 (each an Additional Facility M Accession Agreement).

 

Facility M Interest Period means the Interest Period which
is current, at the Effective Date, in respect of the outstanding Advance (the Facility M Advance) under Facility M.

 

Facility U means the €1,235,809,981.78 term
loan facility made available under this Agreement.

 

Facility U Advance means a euro denominated
advance made to UPC Financing by the Additional Facility U Lenders under Facility
U.

 

Facility U Commitment means, in relation to an
Additional Facility U Lender, the amount in euros set opposite its name under
the heading “Facility U Commitment” in Schedule 1 to the counterpart of this
Agreement executed by that Additional Facility U Lender, to the extent not
cancelled, transferred, or reduced under the Credit Agreement.

 

Majority Facility U Lenders means Additional Facility U
Lenders the aggregate of whose Facility U Commitments exceeds 662/3 per
cent. of the aggregate of Facility U Commitments of all Additional Facility U
Lenders.

 

2.                                       Unless otherwise defined in this Agreement,
terms defined in the Credit Agreement shall have the same meaning in this
Agreement and a reference to a Clause is a reference to a Clause of the Credit
Agreement.  The principles of
construction set out in Clause 1.2 (Construction) of the Credit Agreement apply
to this Agreement as though they were set out in full in this Agreement.

 

3.                                       We refer to Clause 2.2 (Additional
Facilities) of the Credit Agreement.

 

4.                                       This Agreement will take effect on the date
on which the Facility Agent notifies UPC Broadband and the Additional Facility U
Lenders that it has received the documents and 

 

 

evidence set
out in Schedule 2 to this Agreement, in each case in form and substance
satisfactory to it or, as the case may be, the requirement to provide any of
such documents or evidence has been waived by the Majority Facility U Lenders (the
Effective Date).

 

5.                                       We, the Additional Facility U Lenders,
agree:

 

(a)                                  to become party to and to be bound by the
terms of the Credit Agreement as Lenders in accordance with Clause 2.2
(Additional Facilities) of the Credit Agreement; and

 

(b)                                 to become party to the Security Deed as
Lenders and to observe, perform and be bound by the terms and provisions of the
Security Deed in the capacity of Lenders in accordance with Clause 9.3
(Transfers by Lenders) of the Security Deed.

 

6.                                       The Additional Facility Commitment in
relation to an Additional Facility U Lender (for the purpose of the definition
of Additional Facility Commitment in Clause 1.1 (Definitions) of the Credit
Agreement) is its Facility U Commitment.

 

7.                                       Any interest due in relation to Facility U
will be payable on the last day of each Interest Period in accordance with
Clause 8 (Interest) of the Credit Agreement.

 

8.                                      The Availability Period for Facility U
shall be the Effective Date.

 

9.                                      Facility U may be drawn by one Advance and
no more than one Request may be made in respect of Facility U under the Credit
Agreement.

 

10.                                (a)                                  The
first Interest Period to apply to the Facility U Advance will be a period equal
to the period running from the Effective Date up to and including the last day
of the Facility M Interest Period.

 

(b)                                 In respect of the first
Interest Period only, EURIBOR shall mean the EURIBOR
rate as determined in respect of the Facility M Interest Period.

 

11.                                The Facility U Advances will be used for
general corporate purposes and working capital purposes, including the
repayment or prepayment of existing indebtedness.

 

12.                                 The Final Maturity Date in respect of this Facility
U will be the earlier of:

 

(a)                                  31 December 2017; and

 

(b)                                 17 October 2013 (the Relevant Date) being the date falling 90 days prior to the
date on which the UPC Holding B.V. issued bonds due 2014 (the Bonds) are currently scheduled to fall due, if on the
Relevant Date, Bonds are outstanding in an aggregate amount equal to or greater
than €250,000,000.

 

13.                                 The outstanding Facility U Advances will be
repaid in full on the Final Maturity Date.

 

14.                                 The Margin in relation to Facility U is 4.00
per cent. per annum.

 

15.                                 The Borrower in relation to Facility U is
UPC Financing.

 

16.                                (a)                                  Provided that any upsizing of
Facility U permitted under this paragraph will not breach any term of the
Credit Agreement, Facility U may be upsized by any amount, by the signing of
one or more further Additional Facility U Accession Agreements, that specify
(along with the other terms specified therein) UPC Financing as the sole 

 

 

Borrower and
which specify Additional Facility U Commitments denominated in euros, to be
drawn in euros, with the same Final Maturity Date and Margin as specified in
this Additional Facility U Accession Agreement.

 

(b)                                 For the purposes of this paragraph 16,
references to Additional Facility U Lenders and Facility U Advances shall
include Lenders and Advances made under any such further Additional Facility U
Accession Agreement.

 

(c)                                  If  the Borrower so requests, an Interest
Period for a Facility U Advance will end on the same day as the current
Interest Period for any other Facility U Advance denominated in the same
currency as that Facility U Advance.  On
the last day of those Interest Periods, those Facility U Advances will be
consolidated and treated as one Facility U Advance.

 

17.                                Each of UPC Broadband and UPC Financing
confirms, on behalf of themselves and each other Obligor that the
representations and warranties set out in Clause 15 (Representations and
Warranties) of the Credit Agreement (with the exception of Clauses 15.6(a) (Consents),
15.10 (Financial condition), 15.12 (Security Interests), 15.13(b) (Litigation
and insolvency proceedings), 15.14 (Business Plan), 15.15 (Tax liabilities),
15.16 (Ownership of assets), 15.18 (Works Council), 15.19 (Borrower Group
Structure), 15.20 (ERISA), 15.24 (UPC Financing) and 15.25 (Dutch Banking Act))
are true and correct as if made at the Effective Date with reference to the
facts and circumstances then existing, and as if each reference to the Finance
Documents includes a reference to this Agreement.

 

18.                                 UPC Broadband further represents and
warrants on the Effective Date that the execution and delivery by it of this
Agreement and the performance of the transactions contemplated by this
Agreement will not violate any agreement or instrument to which UPC Holding is
a party or binding upon UPC Holding or any member of the Borrower Group or any
assets of UPC Holding or any member of the Borrower Group’s assets, where such
violation would or is reasonably likely to have a Material Adverse Effect.

 

19.                                 Each Additional Facility U Lender confirms
to each Finance Party that:

 

(a)                                  it has made its own independent
investigation and assessment of the financial condition and affairs of each
Obligor and its related entities in connection with its participation in the
Credit Agreement and has not relied on any information provided to it by a
Finance Party in connection with any Finance Document; and

 

(b)                                 it will continue to make its own
independent appraisal of the creditworthiness of each Obligor and its related
entities while any amount is or may be outstanding under the Credit Agreement
or any Additional Facility Commitment is in force.

 

20.                                 Each of the Additional Facility U Lenders
agrees that without prejudice to Clause 26.3 of the Credit Agreement, each New
Lender (as defined in the Novation Certificate referred to below) shall become,
by the execution by the Facility Agent of a Novation Certificate substantially
in the form of part 1 or part 2 of Schedule 3 to this Agreement, bound by the
terms of this Agreement as if it were an original party hereto as an Additional
Facility U Lender and shall acquire the same rights and assume the same
obligations towards the other parties to this Agreement as would have been
acquired and assumed had the New Lender been an original party to this
Agreement as an Additional Facility U Lender.

 

21.                                 Each Additional Facility U Lender agrees to
waive the notice period in respect of drawdown requests under Clause 5.1
(Delivery of Request) of the Credit Agreement in respect of this Facility U.

 

 

22.                                 The Facility Office and address for notices
of each Additional Facility U Lender for the purposes of Clause 32.2
(Addresses for notices) of the Credit Agreement will be that notified by each
Additional Facility U Lender to the Facility Agent.

 

23.                                 This Agreement and any non-contractual
obligations arising out of or in connection with it are governed by English
law.

 

24.                                 This
Agreement may be executed in any number of counterparts, and by each party on
separate counterparts.  Each counterpart
is an original, but all counterparts shall together constitute one and the same
instrument.  Delivery of an executed
counterpart signature page of this Agreement by e-mail (PDF) or telecopy
shall be as effective as delivery of a manually executed counterpart of this
Agreement.

 

 

SCHEDULE 1

 

ADDITIONAL FACILITY U
LENDERS AND COMMITMENTS

 

	
  Additional Facility U Lender

  	
   

  	
  Facility U Commitment

  (€)

  	
   

  
	
  Liberty Global Europe B.V.

  	
   

  	
  €

  	
  1,235,809,981.78

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  €

  	
  1,235,809,981.78

  	
   

  

 

 

SCHEDULE 2

 

CONDITIONS PRECEDENT
DOCUMENTS

 

1.                                      Constitutional Documents

 

(a)                                  A copy of the constitutional documents of
each Obligor (other than UPC Financing) and the partnership agreement of UPC
Financing or, if the Facility Agent already has a copy, a certificate of an
authorised signatory of the relevant Obligor confirming that the copy in the
Facility Agent’s possession is still correct, complete and in full force and
effect as at a date no earlier than the date of this Agreement.

 

(b)                                 An extract of the registration of each
Obligor established in the Netherlands in the trade register of the Dutch Chamber
of Commerce.

 

2.                                      Authorisations

 

(a)                                  A copy of a resolution of the board of
managing and, to the extent applicable, board of supervisory directors (or
equivalent) and, to the extent that a shareholders’ resolution is required, a
copy of the shareholders’ resolution of each Obligor:

 

(i)                                     approving the terms of and the transactions
contemplated by this Agreement and (in the case of UPC Broadband) resolving
that it execute the same (and, in the case of the Guarantors and the Charging
Entities (as defined in the Security Deed) resolving that it execute the confirmation
described at paragraph 4(a) below; and

 

(ii)                                  (in the case of UPC Broadband and UPC
Financing) authorising the issuance of a power of attorney to a specified
person or persons to execute this Agreement on its behalf and (in the case of
the Guarantors and the Charging Entities (as defined in the Security Deed))
authorising the issuance of a power of attorney to a specified person or
persons to execute the confirmation described in paragraph 4(a) below.

 

(b)                                 A specimen of the signature of each person
authorised pursuant to its constitutional documents or to the power of attorney
referred to in paragraph (a) above to sign this Agreement or the confirmation
described in paragraph 4 below (as appropriate).

 

(c)                                  A certificate of an authorised signatory of
UPC Broadband, each Guarantor and each Charging Entity certifying that each
copy document specified in this Schedule and supplied by UPC Broadband, each
Guarantor and each Charging Entity is correct, complete and in full force and
effect as at a date no earlier than the date of this Agreement.

 

(d)                                 A copy of any other authorisation or other
document, opinion or assurance which the Facility Agent has notified UPC Broadband
is necessary in connection with the entry into and performance of, and the
transactions contemplated by, this Agreement or for the validity and
enforceability of this Agreement.

 

3.                                      Legal opinions

 

(a)                                  A legal opinion of Allen & Overy
LLP, English legal advisers to the Facility Agent, addressed to the Finance
Parties.

 

(b)                                 A legal opinion of Allen & Overy
LLP, Dutch legal advisers to the Facility Agent, addressed to the Finance
Parties.

 

 

(c)                                  A legal opinion of Allen & Overy
LLP, New York legal advisers to the Facility Agent, addressed to the Finance
Parties.

 

4.                                      Other documents

 

Confirmation (in writing) from (i) each
of the Guarantors that its obligations under Clause 14 (Guarantee) of the
Credit Agreement and (ii) each of the Charging Entities (as defined in the
Security Deed) that the Security Interests granted to the Beneficiaries
pursuant to the Security Documents and its obligations under the Finance
Documents, shall continue unaffected and that such obligations extend to the
Total Commitments as increased by the addition of Facility U and that such
obligations shall be owed to each Finance Party including the Additional
Facility U Lenders.

 

 

SCHEDULE 3

 

NOVATION CERTIFICATES

 

PART 1

 

NOVATION CERTIFICATE
(CASH)

 

	
  To:

  	
  [     ] as
  Facility Agent and [BORROWER]

  	
   

  
	
   

  	
   

  	
   

  
	
  From:

  	
  [THE EXISTING LENDER] and [THE NEW
  LENDER]

  	
  Date:
  [          ]

  

 

UPC Broadband Holding B.V. - e1,072,000,000
Term Credit Agreement dated 16 January, 2004 (the Credit Agreement)

 

We refer to Clause 26.3 (Procedure for
novations) of the Credit Agreement and clause 9.3 (Transfers by the Lenders) of
the Security Deed.  Terms defined in the
Credit Agreement or, if not defined in the Credit Agreement, the Additional
Facility Accession Agreement between the Facility Agent, the Security Agent and
the Additional Facility U Lenders dated [         ] 2009, have the same meaning in this
Novation Certificate.

 

1.                                       We
[             ]
(the Existing Lender) and
[     ] (the New Lender)
agree to the Existing Lender and the New Lender novating all the Existing
Lender’s rights and obligations referred to in the Schedule in accordance with
Clause 26.3 (Procedure for novations) of the Credit Agreement and clause
9.3 (Transfers by the Lenders) of the Security Deed.

 

2.                                       The New Lender confirms that it is bound by the
terms of the Additional Facility Accession Agreement as if it were an original
party thereto as an Additional Facility U Lender and shall acquire the same
rights and assume the same obligations towards the other parties to the
Additional Facility U Accession Agreement as would have been acquired and
assumed had the New Lender been an original party to the Additional Facility U
Accession Agreement as an Additional Facility U Lender.

 

3.                                       The Facility Office and address for notices
of the New Lender for the purposes of Clause 32.2 (Addresses for notices)
are set out in the Schedule.

 

4.                                       This
Novation
Certificate
may be executed in any number of counterparts, and by each party on separate
counterparts.  Each counterpart is an
original, but all counterparts shall together constitute one and the same
instrument.  Delivery of an executed
counterpart signature page of this Novation
Certificate by
e-mail (PDF) or telecopy shall be as effective as delivery of a manually
executed counterpart of this Novation Certificate.

 

5.                                       This Novation Certificate and any
non-contractual obligations arising out of or in connection with it are governed
by English law.

 

 

THE SCHEDULE

 

Rights and obligations to be novated

 

[Details of the rights and
obligations of the Existing Lender to be novated.]

 

 

	
  [New Lender]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [Facility Office

  	
  Address for notices for administrative
  purposes

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address for notices for credit purposes]

  	
   

  
	
   

  	
   

  	
   

  
	
  [Existing Lender]

  	
  [New Lender]

  	
  [                    ]

  
	
   

  	
   

  	
   

  
	
  By:

  	
  By:

  	
  By:

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  Date:

  	
  Date:

  

 

 

PART 2

 

NOVATION CERTIFICATE
(CASHLESS)

 

	
  To:

  	
  Toronto Dominion (Texas) LLC as Facility
  Agent and UPC Financing as Borrower

  
	
   

  	
   

  
	
  From:

  	
  Liberty Global Europe B.V. and [the
  EXISTING M LENDER / NEW U LENDER]

  

 

Date:       
June 2009

 

UPC Broadband Holding B.V. - e1,072,000,000
Term Credit Agreement dated 16 January, 2004 (the Credit Agreement)

 

We refer to:

 

(a)                                   Clause 26.3 (Procedure for novations)
of the Credit Agreement;

 

(b)                                   Clause 9.3 (Transfers by the Lenders) of
the Security Deed;

 

(c)                                    the Additional Facility M Accession
Agreements; and

 

(d)                                   the €[•] Additional Facility U
Accession Agreement.

 

Terms defined in the Credit Agreement or,
if not defined in the Credit Agreement, the Additional Facility M Accession
Agreements, have the same meaning in this Novation Certificate.

 

1.                                         [          ]
(the Existing M Lender) agrees to novate and
Liberty Global Europe B.V. (the New M Lender)
agrees to accept novation on the Effective Date of all the Existing M Lender’s
rights and obligations referred to in the Schedule in accordance with
Clause 26.3 (Procedure for novations) of the Credit Agreement and clause
9.3 (Transfers by the Lenders) of the Security Deed.

 

2.                                         Liberty Global Europe B.V. (the Existing U Lender) agrees to novate and [                  ]
(the New U Lender) agrees to accept the
novation on the Effective Date of all the Existing S Lender’s rights and
obligations referred to in the Schedule in accordance with Clause 26.3
(Procedure for novations) of the Credit Agreement and clause 9.3 (Transfers by
the Lenders) of the Security Deed.

 

3.                                         The aggregate Existing M Commitment will be
equal to the aggregate Existing U Commitment (each term as referred to in the
schedule to this certificate). The Existing M Lender’s obligation to transfer
the Existing M Commitment to the New M Lender and the Existing U Lender’s obligation
to transfer the Existing U Commitment to the New U Lender, will each be deemed
to be satisfied by the deemed transfer of the other, in each case on the
Effective Date.

 

4.                                         The New M Lender confirms that it is bound by the
terms of the Additional Facility M Accession Agreement as if it were an
original party thereto as an Additional Facility M Lender and
shall acquire the same rights and assume the same obligations towards the other
parties to the
Additional Facility M Accession Agreement as would have been
acquired and assumed had the New Lender been an original party to the Additional
Facility M Accession Agreement as an Additional Facility M
Lender.

 

 

	
  5.

  	
  The New U Lender confirms that it is bound by
  the terms of the Additional Facility U Accession Agreement as if it were an
  original party thereto as an Additional Facility U Lender and
  shall acquire the same rights and assume the same obligations towards the
  other parties to the Additional Facility U Accession Agreement as would
  have been acquired and assumed had the New Lender been an original party to the Additional
  Facility U Accession Agreement as an Additional Facility U
  Lender.

  
	
   

  	
   

  
	
  6.

  	
  This certificate shall take effect on the
  date of this certificate.

  
	
   

  	
   

  
	
  7.

  	
  For the purposes of this certificate, “Effective Date” means the date specified under the
  Facility Agent’s name in the relevant signature page to this Novation
  Certificate.

  
	
   

  	
   

  
	
  8.

  	
  Each party to this document agrees, the
  Facility Agent agrees on behalf of each Finance Party, and UPC Broadband
  Holding B.V. agrees on behalf of each Obligor, that this document is a
  Novation Certificate notwithstanding that its form is different to that
  required by the Credit Agreement or any Additional Facility M Accession
  Agreement.

  
	
   

  	
   

  
	
  9.

  	
  This Novation Certificate is a Finance
  Document.

  
	
   

  	
   

  
	
  10.

  	
  This
  Novation Certificate may be executed in any number of counterparts, and by
  each party on separate counterparts. Each counterpart is an original, but all
  counterparts shall together constitute one and the same instrument. Delivery
  of an executed counterpart signature page of this Novation Certificate
  by e-mail (PDF) or telecopy shall be as effective as delivery of a manually
  executed counterpart of this Novation Certificate.

  
	
   

  	
   

  
	
  11.

  	
  This Novation Certificate and any
  non-contractual obligations arising out of or in connection with it are
  governed by English law.

  

 

 

THE SCHEDULE

 

Rights and obligations to be
novated:

 

1.                                     
Existing M Lender

 

Existing M Commitment: €[       ]

 

Assignee: New M Lender

 

2.                                        Existing U
Lender

 

Existing U Commitment: €[       ]

 

Assignee: New
U Lender

 

 

[THE EXISTING M LENDER], as the Existing M
Lender

 

 

By:

Name:

Title:

 

LIBERTY GLOBAL EUROPE B.V., as the New M
Lender

 

 

By:

Name:

Title:

 

LIBERTY GLOBAL EUROPE B.V., as the Existing
U Lender

 

 

By:

Name:

Title:

 

 

[THE NEW U LENDER], as the New U Lender

 

 

By:

Name:

Title:

 

UPC BROADBAND HOLDING B.V., as Obligors
agent

 

 

By:

Name:

Title:

 

TORONTO DOMINION (TEXAS) LLC, as Facility
Agent

 

 

By:

Name:

Title:

 

The Facility Agent confirms that the
Effective Date is the date on which it countersigns this Novation Certificate.

 

 

SIGNATORIES

 

TORONTO DOMINION (TEXAS) LLC as Facility
Agent

 

By: Authorized Signatory

 

 

TD BANK EUROPE LIMITED as Security Agent

 

By: Authorized Signatory

 

 

UPC BROADBAND HOLDING B.V.

 

By: Authorized Signatory

 

By: Authorized Signatory

 

 

UPC FINANCING PARTNERSHIP

 

By: Authorized Signatory

 

By: Authorized Signatory

 

 

ADDITIONAL FACILITY
U LENDERS

 

 

LIBERTY GLOBAL EUROPE B.V.

 

By: Authorized Signatory

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