Document:

Assignment and Assumption Agreement, dated as of February 4, 2008

 Exhibit 10.15 
 EXECUTION COPY 
 ASSIGNMENT AND ASSUMPTION AGREEMENT 
 Assignment and Assumption Agreement (the “Agreement”) made as of February 4, 2008, by and among Serafina Acquisition Limited, a
Bermuda exempted company (“Transferor”), and Intelsat (Bermuda), Ltd., a Bermuda exempted company and indirect wholly-owned subsidiary of the Transferor (the “Transferee”). 
 WHEREAS, Transferor has entered into that certain Share Purchase Agreement (the “Share Purchase Agreement”), dated June 19,
2007, by and among the Transferor, Intelsat Holdings, Ltd. (“Intelsat Holdings”), certain shareholders of Intelsat Holdings and Serafina Holdings Limited (“Serafina Holdings”, the parent of the Transferor, formed by
funds controlled by BC Partners Holdings Limited and certain other investors), pursuant to which the Transferor and Serafina Holdings will acquire 100% of the primary equity ownership of Intelsat Holdings (the “New Sponsors Acquisition
Transactions”); 
 WHEREAS, promptly after the consummation of the New Sponsors Acquisition Transactions, the Transferee will
transfer certain of its assets and liabilities to a newly formed direct wholly-owned subsidiary, Intelsat Jackson Holdings, Ltd. (the “Intelsat Bermuda Transfer”); 
 WHEREAS, in connection with the New Sponsors Acquisition Transactions, the Transferor will enter into (a) a $2,805,000,000 Senior Unsecured
Bridge Loan Credit Agreement, dated as of February 4, 2008, among the Transferor, the several lenders party thereto, Credit Suisse, Cayman Islands Branch, as Administrative Agent, and the other parties thereto and (b) a $2,155,000,000
Senior Unsecured PIK Election Bridge Loan Credit Agreement, dated as of February 4, 2008, among the Transferor, the several lenders party thereto, Credit Suisse, Cayman Islands Branch, as Administrative Agent, and the other parties thereto (the
“Bridge Loan Agreements”); 
 WHEREAS, it is proposed that, immediately following the consummation of the New
Sponsors Acquisition Transactions and the Intelsat Bermuda Transfer (such time, the “Drop Down Effective Time”), Transferor transfer certain of its assets and liabilities (other than the assets and liabilities of Transferor set
forth on Schedules A and B hereto) to Transferee, and Transferee assume certain of Transferor’s liabilities, including its liabilities pursuant to the Bridge Loan Agreements; 
 NOW THEREFORE, the Transferee and the Transferor, intending to be legally bound agree as follows: 
 Section 1. Contribution of Assets. With effect at the Drop Down Effective Time, Transferor hereby contributes, sells, transfers, conveys,
assigns and delivers to Transferee, and Transferee hereby acquires, all of Transferor’s rights, title and interest in and to all of the properties, assets, contracts, rights, privileges, and interests of whatever kind or nature, real or
personal, tangible or intangible, of Transferor, wherever located (whether in possession of Transferor, its subsidiaries or affiliates or other third parties) (the “Contributed Assets”); provided, that the Contributed Assets shall
not include any of the assets listed on Schedule A (the “Excluded Assets”). 
 Section 2. Assumption of
Liabilities. With effect at the Drop Down Effective Time, Transferee, in consideration of the contribution of the Contributed Assets, hereby expressly assumes and hereafter shall be responsible for the payment, performance and discharge as and
when due in accordance with their respective terms of all of the liabilities and obligations of the Transferor, other 

 
than the liabilities and obligations listed on Schedule B (the “Excluded Liabilities”), whether known or unknown, liquidated,
contingent, accrued or unaccrued, liquidated or unliquidated, absolute, contingent or otherwise and whether due or to become due, (the “Assumed Liabilities”) and agrees to indemnify and to hold Transferor harmless from and against
any and all losses, debts, dues, royalties, costs, charges, expenses, liabilities, settlement payments, awards, judgments, fines, penalties, damages, demands, claims, actions, causes of action, assessments, amounts paid in settlement, or
deficiencies incurred by Transferor in connection with the Assumed Liabilities. 
 Section 3. Certain Limitations.
Notwithstanding anything in this Agreement to the contrary, if any of the assignments or assumptions pursuant to Section 1 or Section 2 hereof, (a) is not permitted by applicable law or by the terms of any contract or (b) would
otherwise constitute or result in any violation, breach or default of or under, or which would give another person or persons the right to accelerate the performance of, or the right to cancel or terminate, or which would result in the loss of any
benefit or rights under, any contract, or the creation or imposition of any lien or encumbrance on any of the Contributed Assets, whether, in each case, following the expiration of any applicable grace period or the giving of any required notice
(any of the contingencies set forth in the foregoing clauses (a) or (b) a “Default”), such assignment or assumption shall automatically be deemed deferred and any such purported assignment or assumption shall be null and
void until such time as all legal impediments are removed and all Defaults are eliminated. 
 Section 4. Further Assurances. Each
of Transferor and Transferee agrees to execute any and all such further instruments of conveyance and transfer and of assumption of liabilities and obligations and other documents and to take such further actions, as may be necessary or appropriate
to vest in the Transferee all right, title and interest in and to, and obligation for, under applicable law or otherwise, the Contributed Assets and the Assumed Liabilities, in each case with effect from and after the Drop Down Effective Time.

 Section 5. Disclaimer of Representations and Warranties. Each of Transferor and Transferee understands and agrees that no
party to this Agreement, or any other agreement or document contemplated by this Agreement, or otherwise, is representing or warranting in any way as to the Contributed Assets or Assumed Liabilities transferred or assumed as contemplated hereby, as
to any consents or approvals required in connection therewith, as to the value or freedom from any liens, or any other matter concerning, any Contributed Assets, or as to the absence of any defenses or right of setoff or freedom from counterclaim
with respect to any claim or other asset, of any party, or as to the legal sufficiency of any assignment, document or instrument delivered hereunder to convey title to any asset or thing of value upon the execution, delivery and filing hereof or
thereof. The Contributed Assets are being transferred on an “as is”, “where is” basis and the transferee shall bear the economic and legal risks that any conveyance shall prove to be insufficient to vest in the transferee good
and marketable title, free and clear of any lien. 
 Section 6. No Assignment. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted assigns; provided, that, other than by operation of law, neither the rights nor the obligations of any party may be assigned or delegated without the prior
written consent of the other party. 
 Section 7. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of Bermuda. 
  

 -2- 

 Section 8. No Third Party Beneficiaries. This Agreement is not intended to be for the benefit
of and shall not be enforceable by any person or entity which is not a party hereto. 
 Section 9. Counterparts. This Agreement
may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one instrument. Signatures delivered by telecopy shall have the same effect as the manual original signatures.

  

 -3- 

 IN WITNESS WHEREOF, the parties have caused this Assignment and Assumption Agreement to be
executed by their respective duly authorized officers as a deed, as of the date first above written. 
  

			
	SERAFINA ACQUISITION LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT (BERMUDA), LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Serafina Assignment and Assumption Agreement Signature Page]Assumption Agreement, dated as of February 4, 2008

 Exhibit 10.16 
 EXECUTION COPY 
 ASSUMPTION AGREEMENT (this “Assumption Agreement”) made as of
February 4, 2008, among Serafina Acquisition Limited, a Bermuda exempted company (the “Borrower”), Intelsat (Bermuda), Ltd., a Bermuda exempted company (the “Successor”) and Credit Suisse, Cayman Islands
Branch, in its capacity as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). 
 W I T N E
S S E T H : 
 WHEREAS the Borrower has heretofore executed and delivered to the Administrative Agent (a) a $2,805,000,000 Senior
Unsecured Bridge Loan Credit Agreement dated as of February 4, 2008, among the Borrower, the several lenders party thereto, Credit Suisse, Cayman Islands Branch, as Administrative Agent, and the other parties thereto and (b) a
$2,155,000,000 Senior Unsecured PIK Election Bridge Loan Credit Agreement dated as of February 4, 2008, among the Borrower, the several lenders party thereto, Credit Suisse, Cayman Islands Branch, as Administrative Agent, and the other parties
thereto (each a “Bridge Loan Agreement” and, together the “Bridge Loan Agreements”); 
 WHEREAS on the date
hereof, the Borrower has assigned all of its liabilities and obligations with respect to the Bridge Loan Agreements and the Loans thereunder to the Successor (the “Transfer”); 
 WHEREAS Section 10.10(d) of each of the Bridge Loan Agreements provides that in connection with the Transfer, the Successor is required to execute
and deliver to the Administrative Agent a document pursuant to which the Successor expressly assumes all of the obligations of the Borrower under such Bridge Loan Agreement and the Loans on the terms and conditions set forth herein; 
 WHEREAS Section 10.10(d) of each of the Bridge Loan Agreements expressly permits the Transfer; 
 WHEREAS pursuant to Section 10.11 of each of the Bridge Loan Agreements, concurrently with the Transfer permitted under Section 10.10(d) of
each of the Bridge Loan Agreements, the Successor shall succeed to and be substituted for, and may exercise every right and power of, the Borrower under such Bridge Loan Agreement with the same effect as if such Successor has been named as the
Borrower in such Bridge Loan Agreement, and the Borrower shall thereby be released of its obligations and liabilities under the Bridge Loan Agreements and the Loans; 
 WHEREAS in accordance with Section 14.1(a)(ii) of each of the Bridge Loan Agreements, the parties hereto desire to amend such Bridge Loan Agreement as described below; and 
 WHEREAS pursuant to Section 14.1(a)(ii) of each of the Bridge Loan Agreements, the Borrower and the Administrative Agent are authorized to execute
and deliver this Assumption Agreement; 
 NOW THEREFORE, in consideration of the foregoing and for other good and 

 
valuable consideration, the receipt of which is hereby acknowledged, the Borrower, the Successor and the Administrative Agent mutually covenant and agree for
the equal and ratable benefit of the Lenders as follows: 
 1. Defined Terms. As used in this Assumption Agreement, capitalized terms
defined in the Bridge Loan Agreements and not otherwise defined herein have the meanings assigned such terms in the Bridge Loan Agreements. The words “herein,” “hereof” and hereby and other words of similar import used in this
Assumption Agreement refer to this Assumption Agreement as a whole and not to any particular section hereof. 
 2. Agreement to Assume
Obligations. The Successor hereby agrees to assume the Borrower’s obligations under each of the Bridge Loan Agreements and the Loans on the terms and subject to the conditions set forth in such Bridge Loan Agreement and the Loans, and
succeed to and be substituted for, and may exercise every right and power of, the Borrower under the Bridge Loan Agreements and the Loans with the same effect as if such Successor has been named as the Borrower in such Bridge Loan Agreement and the
Loans, and the Borrower shall thereby be released of its obligations under the Bridge Loan Agreements and the Loans. 
 3. Notices.
All notices or other communications to the Successor shall be in writing and delivered in person, via facsimile or mailed by first-class mail addressed as follows: 
 Intelsat (Bermuda), Ltd. 
 c/o Intelsat, Ltd. 
 Wellesley House North, 2nd Floor 
 90 Pitts Bay Road 
 Pembroke, Bermuda HM 08

 4. Ratification of Bridge Loan Agreement; Assumption Agreement Part of Bridge Loan Agreement. Except as expressly amended hereby,
the Bridge Loan Agreements are in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Assumption Agreement shall form a part of each of the Bridge Loan Agreements for
all purposes, and every Lender shall be bound hereby. 
 7. Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8. Administrative Agent Makes No Representation. The
Administrative Agent makes no representation as to the validity or sufficiency of this Assumption Agreement. 
 9. Counterparts. The
parties may sign any number of copies of this Assumption Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 
 10. Effect of Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Assumption Agreement to be duly executed as of
the date first above written. 
  

			
	INTELSAT (BERMUDA), LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SERAFINA ACQUISITION LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Bridge Loans Assumptions Agreement Signature Page] 

			
	 CREDIT SUISSE, CAYMAN ISLANDS
 BRANCH, AS
ADMINISTRATIVE AGENT

		
	By:	 	  

	Name:	 	
	Title:	 	

 [Bridge Loans Assumptions Agreement Signature Page]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]