Document:

Exhibit 4.25

 

SHARES PLEDGE

 

by

 

TELEWEST COMMUNICATIONS
(SCOTLAND HOLDINGS) LIMITED

 

and

 

DEUTSCHE BANK AG, LONDON
BRANCH

as Security Trustee

 

	
  19
  January 2010

  	
  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/DEU002.0038

  

 

 

Table
of Contents

 

	
  1.

  	
  INTERPRETATION

  	
  1

  
	
   

  	
   

  	
   

  
	
  2.

  	
  OBLIGATION
  TO PAY

  	
  8

  
	
   

  	
   

  	
   

  
	
  3.

  	
  SECURITY

  	
  9

  
	
   

  	
   

  	
   

  
	
  4.

  	
  UNDERTAKINGS

  	
  11

  
	
   

  	
   

  	
   

  
	
  5.

  	
  WARRANTIES

  	
  12

  
	
   

  	
   

  	
   

  
	
  6.

  	
  VOTING
  RIGHTS, DIVIDENDS ETC.

  	
  12

  
	
   

  	
   

  	
   

  
	
  7.

  	
  LIABILITY
  TO PERFORM

  	
  13

  
	
   

  	
   

  	
   

  
	
  8.

  	
  ENFORCEMENT

  	
  14

  
	
   

  	
   

  	
   

  
	
  9.

  	
  APPLICATION
  OF ENFORCEMENT MONEYS

  	
  15

  
	
   

  	
   

  	
   

  
	
  10.

  	
  RECONVEYANCE

  	
  15

  
	
   

  	
   

  	
   

  
	
  11.

  	
  PROTECTION
  OF SECURITY

  	
  16

  
	
   

  	
   

  	
   

  
	
  12.

  	
  FURTHER
  ASSURANCE

  	
  17

  
	
   

  	
   

  	
   

  
	
  13.

  	
  MANDATE
  AND ATTORNEY

  	
  17

  
	
   

  	
   

  	
   

  
	
  14.

  	
  SECURITY
  TRUST AGREEMENT

  	
  18

  
	
   

  	
   

  	
   

  
	
  15.

  	
  INDEMNITIES;
  COSTS AND EXPENSES

  	
  18

  
	
   

  	
   

  	
   

  
	
  17.

  	
  CURRENCIES

  	
  19

  
	
   

  	
   

  	
   

  
	
  18.

  	
  MISCELLANEOUS

  	
  19

  
	
   

  	
   

  	
   

  
	
  19.

  	
  NOTICES

  	
  20

  
	
   

  	
   

  	
   

  
	
  20.

  	
  SET-OFF

  	
  20

  
	
   

  	
   

  	
   

  
	
  21.

  	
  GOVERNING
  LAW

  	
  20

  

 

SCHEDULE

Pledged Securities

 

 

SHARES PLEDGE

 

between

 

(A)       TELEWEST COMMUNICATIONS (SCOTLAND HOLDINGS)
LIMITED
incorporated under the law of Scotland with registered number SC150058 and
having its registered office at 1 South Gyle Crescent Lane, Edinburgh EH12 9EG
(hereinafter referred to as the  Company); and

 

(B)       DEUTSCHE BANK AG, LONDON BRANCH in its capacity as Security
Trustee for the Beneficiaries (hereinafter referred to as the Security
Trustee).

 

CONSIDERING THAT:

 

(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 carrying
on its business and that 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.

 

NOW IT IS HEREBY PROVIDED
AND DECLARED THAT:-

 

1.         INTERPRETATION

 

	
  1.1                                 In this Instrument:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Beneficiaries

  	
   

  	
  means the First Beneficiary and the Second
  Beneficiaries;

  
	
   

  	
   

  	
   

  
	
  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.

  
	
   

  	
   

  	
   

  
	
  Existing
  Security Trustee

  	
   

  	
  means Deutsche
  Bank AG, London Branch in its capacity as security trustee under the 

  

 

 

	
   

  	
   

  	
  Existing Share
  Pledge.

  
	
   

  	
   

  	
   

  
	
  Existing
  Share Pledge

  	
   

  	
  means the share
  pledge granted by the Company in favour of Deutsche Bank AG, London Branch in
  respect of the Pledged Securities and dated 3 March 2006.

  
	
   

  	
   

  	
   

  
	
  Incapacity

  	
   

  	
  means, in relation
  to any person, the insolvency, bankruptcy, liquidation, dissolution,
  winding-up, administration, receivership, amalgamation, reconstruction or
  other incapacity of that person whatsoever (and, in the case of a
  partnership, includes the termination or change in the composition of the
  partnership);

  
	
   

  	
   

  	
   

  
	
  Instructing
  Party

  	
   

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

  
	
   

  	
   

  	
   

  
	
  Indemnified
  Party

  	
   

  	
  has the meaning
  set out in Clause 15.3;

  
	
   

  	
   

  	
   

  
	
  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 Encumbrance

  	
   

  	
  means any Encumbrance permitted under clause
  25.2 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;

  
	
   

  	
   

  	
   

  
	
  Pledged Company

  	
   

  	
  means each of Telewest Communications
  (Motherwell) Limited, Telewest Communications (Dundee & Perth)
  Limited and Telewest Communications (Scotland) Limited;

  
	
   

  	
   

  	
   

  
	
  Pledged
  Securities

  	
   

  	
  means the
  securities described in paragraph (A) of the Schedule hereto to be
  transferred, or which have been transferred pursuant to the Existing Share
  Pledge to the Security Trustee or its nominee and the securities, moneys,
  assets, rights and powers described in paragraphs (B) and (C) of
  the Schedule hereto and all other securities (if 

  

 

 

	
   

  	
   

  	
  any) which are
  hereafter transferred or delivered to the Security Trustee to be held subject
  to the terms and conditions of this Instrument;

  
	
   

  	
   

  	
   

  
	
  Receiver

  	
   

  	
  means any receiver
  or administrative receiver appointed in respect of all or any of the Pledged
  Securities (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.

  
	
   

  	
   

  	
   

  
	
  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
  Period

  	
   

  	
  means the period
  beginning on the date of this Instrument and ending on the date on which all
  the Secured Obligations have been unconditionally and irrevocably paid and
  discharged in full;

  
	
   

  	
   

  	
   

  
	
  Security
  Provider

  	
   

  	
  means any person
  who has granted or may at any time hereafter grant any security interest on
  security 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.

  

 

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
provision 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       Construction
of certain terms

 

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.         OBLIGATION
TO PAY

 

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 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.

 

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.         SECURITY

 

3.1       In security of the Secured Obligations the
Company hereby:

 

(a)        pledges and assigns to the Security Trustee its whole right, title,
interest and benefit in and to the Pledged Securities (subject to the security
created by the Existing Share Pledge and by clause 3.1(b) below); and

 

(b)        assigns to the Security Trustee all its
rights, title, benefits and interest in and to the right of reconveyance of the
Pledged Securities created and existing under and pursuant to the Existing
Shares Pledge including, without limitation, pursuant to Clause 10
(Reconveyance) of the Existing Share Pledge.

 

3.2        The Security Trustee hereby acknowledges that, notwithstanding any
transfer or delivery to it or its nominee or nominees ex facie
absolutely of the Pledged Securities and any registration of the Pledged
Securities in the name of the Security Trustee or any nominee(s) holding
to the order of the Security Trustee, or the custody of the documents of title
relating thereto by the Security Trustee or any such nominee(s), the Pledged Securities
are and shall truly be held by it as security for the payment of the Secured
Obligations on the terms and conditions of this Instrument.

 

3.3        The Company hereby intimates to the Existing
Security Trustee that the Company has hereby assigned its rights, title,
benefits and interest in and to the Pledged Securities (subject to the security
created by the Existing Share Pledge) and its right, title, benefit and
interest in and to the reconveyance of the Pledged Securities pursuant to the 

 

 

Existing Share
Pledge including, without limitation, pursuant to Clause 11 (Reconveyance) of
the Existing Share Pledge and the Existing Security Trustee hereby acknowledges
such intimations.

 

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
Pledged Securities 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 Pledged Securities or other securities
of a Subsidiary of Virgin Media Inc. (excluding the Pledged Securities 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 Pledged
Securities 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 Pledged Securities 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 Pledged
Securities or other securities secure any Designated Secured Obligations, then
such Pledged Securities 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 Pledged Securities 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 Pledged Securities 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 Pledged Securities 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 Pledged
Securities or other securities that were deemed to constitute Excluded Charged
Assets.

 

5.         UNDERTAKINGS

 

5.1       The Company undertakes forthwith on release of the Existing Share Pledge
and receipt by the Company of a stock transfer form transferring the Pledged
Securities back to the Company (provided such release and stock transfer form
is received on a date during the Security Period) to transfer to the Security
Trustee or its nominees such of the Pledged Securities as at the date hereof
have not been so transferred and to procure the issue and delivery of
certificates representing the Pledged Securities in the name of the Security
Trustee or such nominee as appropriate and to register the Pledged Securities
in the name of the Security Trustee or its nominee (as the Security Trustee
directs) in the relevant register of members. If, as at the date of such
release of the Existing Share Pledge, the Existing Security Trustee and the
Security Trustee are the same entity, this Clause 5.1 shall not apply and the
Pledged Securities shall remain registered in the name of such entity or any
nominee(s) holding to the order thereof, provided that in such circumstances,
the Existing Security Trustee, the Security Trustee, the Company and the
Pledged Companies hereby acknowledge that immediately on release of the
Existing Share Pledge, the Pledged Securities will cease to be held under the
Existing Share Pledge and will be held pursuant to the terms of this
Instrument.

 

5.2       The Company undertakes to deliver to the Security Trustee, within 5
Business Days of the date of the release of the Existing Share Pledge and
receipt by the Company of a stock transfer form transferring the Pledged
Securities back to the Company (provided such release and stock transfer form
is received on a date during the Security Period), a certified true copy of the
register of members of each of the Pledged Companies evidencing the Security
Trustee or its nominee as the holder of the Pledged Securities (the “Register of Members”). If, as at the date of such release of
the Existing Share Pledge, the Existing Security Trustee and the Security
Trustee are the same entity, this Clause 5.2 shall not apply and such certified
true copy of the Register of Members delivered to the Existing Security Trustee
in connection with the Existing Share Pledge shall remain in the possession of
such entity or any nominee(s) holding to the order thereof, provided that
in such circumstances, the Existing Security Trustee, the Security Trustee, the
Company and the Pledged Companies hereby acknowledge that immediately on
release of the Existing Share Pledge, the Pledged Securities will cease to be
held under the Existing Share Pledge and will be held pursuant to the terms of
this Instrument.

 

5.3       The Company shall for so long as the security created pursuant to this
Instrument is in force pay duly and promptly all calls which may from time to
time be made in respect 

 

 

of any unpaid moneys under any Pledged Securities
and/or any other moneys which it may lawfully be required to pay in respect of
any Pledged Securities, and in case of default the Security Trustee may, if it
thinks fit, make such payments on behalf of the Company; it being acknowledged
by the Company that neither the Security Trustee nor any of the Beneficiaries
shall in any circumstances incur any liability whatsoever in respect of any
such calls, instalments or other moneys.

 

5.4       Any moneys expended by the Security Trustee under this provision shall
be deemed to be properly paid by the Security Trustee, and the Company shall
reimburse the Security Trustee within 30 days of demand together with interest
at the Default Rate from the date being 30 days after the date of demand until
such repayment, both before and after judgment. 
Such moneys shall pending reimbursement constitute a part of the Secured
Obligations.

 

5.5       If the Company at any time defaults in complying with any of its
obligations contained in this Instrument, the Security Trustee shall, without
prejudice to any other rights of the Security Trustee arising as a consequence
of such default, be entitled (but not bound) to make good any such default and
the Company hereby irrevocably authorises the Security Trustee and its
employees and agents by way of security to do all such things necessary or
reasonably desirable in connection therewith. 
Any moneys so expended by the Security Trustee shall be repayable by the
Company to the Security Trustee within 30 days of demand together with interest
at the Default Rate from the date being 30 days after the date of demand until
such repayment, both before and after decree or judgment.

 

6.         WARRANTIES

 

The Company represents and warrants to the Security
Trustee that subject to this Instrument, the Existing Share Pledge and/or
implementation of the obligations contained in either of this Instrument, the
Existing Share Pledge or both of them: (i) the Company is, and will
remain, the sole beneficial owner of and has full right and title to the
Pledged Securities (comprising 100 per cent of the issued share capital of
Telewest Communications (Motherwell) Limited with registered number SC121617,
Telewest Communications (Dundee & Perth) Limited with registered number
SC096816 and Telewest Communications (Scotland) Limited with registered number
SC080891) and the same are fully paid up and validly allotted and are free from
any Encumbrance (other than the security created by or pursuant hereto, the
Existing Share Pledge and any Permitted Encumbrance) and are not subject to any
calls or any option (save to the extent permitted under or not restricted by
each Senior Finance Document) or other third party right and (ii) the
Pledged Securities represent and will continue to represent 100% of the share
capital of each of the companies mentioned in (i) above.

 

7.         VOTING
RIGHTS, DIVIDENDS ETC

 

7.1       Subject to the obligations
under the Existing Share Pledge, if the Pledged Securities shall entitle the
holder thereof to rights to subscribe for any other securities, then the
Company shall do all acts and things and execute such documents (including such
deed or deeds supplemental hereto) as the Security Trustee may require so as to
effect a fixed security in favour of the Security Trustee (as trustee
aforesaid) over such Pledged Securities when issued.

 

7.2       Until the occurrence of an
Event of Default or following the occurrence of an Event of Default but
provided the same is not continuing, the Company shall be entitled to exercise
any and all voting rights pertaining to the Pledged Securities or any part 

 

 

thereof and to receive and retain any and all cash dividends,
distributions, interest and other monies paid in respect of the Pledged
Securities.  While the registered holder
of the Pledged Securities, the Security Trustee shall promptly supply, and
shall procure that its nominee(s) in whose name(s) the Pledged
Securities are registered shall promptly supply, to the Company copies of all
notices, circulars, accounts and statements sent to it/them in respect of the
Pledged Securities.  If the Security
Trustee receives due notice before the proposed exercise of any such voting
rights by the Company, and if the Company is entitled hereunder to exercise
such rights, the Security Trustee shall procure its nominee to execute and
deliver such documents as the Company may reasonably require in order to enable
such rights to be so exercised, provided the Security Trustee shall be under no
obligation to comply with any such notice where compliance would in the
Security Trustee’s reasonable opinion be prejudicial to the security created by
this Instrument.  In the absence of such
notice, the voting rights attaching to the Pledged Securities shall not be
exercised except where exercisable by the Security Trustee in the circumstances
set out in Clause 7.3.  Subject to the
terms of the Senior Finance Documents, and unless the Enforcement Date has
occurred, the Security Trustee will hold all cash dividends, interest and other
moneys paid on or received by it or its nominee(s) in respect of the
Pledged Securities for the account of the Company and will pay and account for
such dividends, interest and other moneys to the Company.

 

7.3       Notwithstanding any other
provision of this Instrument, this Instrument shall take effect so that:

 

7.3.1                prior to the Enforcement
Date all rights attached to the Pledged Securities shall be exercisable only in
the interests of the Company in accordance with the Company’s instructions in
writing to the Security Trustee provided that the Security Trustee shall be
under no obligation to comply with any such instructions where compliance
would, in the Security Trustee’s reasonable opinion, be prejudicial to the
security created by this Instrument; and

 

7.3.2                upon any enforcement of the
security created pursuant to this Instrument all rights attached to the Pledged
Securities shall be exercisable by the Security Trustee (subject to the terms
of the Existing Share Pledge) for the purpose of enforcing such security and
otherwise in accordance with Clause 7.3.1, to the intent that nothing contained
herein shall give or is intended to have the effect of giving control of the
Pledged Companies to the Security Trustee or the Beneficiaries otherwise than
on enforcement of such security.

 

7.4       The Security Trustee may
after notifying the Company of its intention to do so, but shall not be obliged
to, pay any calls or other sums that may be or become due in respect of any of
the securities for the time being the subject of this Instrument (including,
without limitation, the Pledged Securities).

 

8.         LIABILITY
TO PERFORM

 

It is expressly
agreed that, notwithstanding anything to the contrary herein contained, the
Company shall remain liable to observe and perform all of the conditions and obligations
assumed by it in respect of the Pledged Securities and the Security Trustee
shall be under no obligation or liability by reason of or arising out of this
Instrument.  The Security Trustee shall
not be required in any manner to perform or fulfil any obligations of the
Company in respect of the Pledged Securities.

 

 

9.         ENFORCEMENT

 

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

 

9.2       At any time on or after the
Enforcement Date or if requested by the Company, subject to the terms of the
Existing Share Pledge, then if and for so long as the Security Trustee is, or
is entitled to be, registered as the holder of the Pledged Securities in the
register of members of Telewest Communications (Motherwell) Limited, Telewest
Communications (Dundee & Perth) Limited and Telewest Communications
(Scotland) Limited the security created pursuant to this Instrument may be
enforced in the following manner:

 

9.2.1                the Security Trustee shall
become entitled to sell, call in, collect or convert into money its interest in
any Pledged Securities with full power on giving notice to the Company to such
effect to sell any of the same either together or in parcels and whether by
private contract or otherwise and for such consideration (whether in cash,
securities or other assets and whether deferred or not) as the Security Trustee
may think fit and with full power to buy in or rescind or vary any contract of
sale of its interest in the Pledged Securities or any part thereof and to
resell the same without being responsible for any loss which may be occasioned
thereby and with full power to compromise and effect compositions and for the
purposes aforesaid or any of them to execute and do all such assurances and
things as it shall think fit;

 

9.2.2                the Security Trustee shall
become entitled to apply all or any moneys received or held by it in respect of
the Pledged Securities in respect of the exercise of any of its rights in
relation thereto in accordance with Clause 9; and

 

9.2.3                the Company shall on demand
execute all such transfers and assurances and do all such things which the
Security Trustee may require for perfecting its title to any Pledged Securities
or for vesting the same in the Security Trustee or its nominees or any
purchaser.

 

9.3       After the occurrence of an
Event of Default and so long as the same is continuing:

 

9.3.1                all rights of the Company
to exercise the voting rights which it would otherwise be entitled to exercise
and to receive the dividends and other payments which it would otherwise be
authorised to receive and retain pursuant to Clause 7.2 shall cease and if and
so long as the Security Trustee is, or is entitled to be, registered as the
holder of the Pledged Securities in the register of members of Telewest
Communications (Motherwell) Limited, Telewest Communications (Dundee &
Perth) Limited and Telewest Communications (Scotland) Limited all such rights
shall (subject to the Existing Share Pledge) thereupon become vested in the
Security Trustee which shall have the sole right to exercise such voting rights
and to receive and hold as Pledged Securities such dividends and other
payments; and

 

9.3.2                all dividends and other
payments which are received by the Company contrary to the provisions of Clause
9.3.1 shall, if and for so long as the Security Trustee is entitled to be
registered as the holder of the Pledged Securities in the Register of Members
of Telewest Communications 

 

 

(Motherwell) Limited, Telewest Communications (Dundee & Perth)
Limited and Telewest Communications (Scotland) Limited to be received in, and
be declared by the Company to be subject to a trust for the benefit of the
Security Trustee, and shall be segregated from other funds of the Company and
forthwith be paid over to the Security Trustee,

 

to the intent that
the Security Trustee shall be entitled to exercise such rights and receive such
payments only for the purpose of protecting or enforcing the security
constituted hereby.

 

9.4       The Security Trustee shall incur no liability
to the Company in the event of an over realisation of Pledged Securities or any
of them or from any error or omission in the administration thereof.

 

9.5       To the extent the Pledged Securities constitute
financial collateral and this Instrument constitutes a security financial
collateral arrangement (as defined in the Financial Collateral Arrangements (No. 2)
Regulations 2003 (SI 2003 No. 3226) at any time after the Enforcement Date
the Security Trustee (subject to the terms of the Existing Share Pledge) may
appropriate all or any part of the Pledged Securities in or towards
satisfaction of the Secured Obligations, the value of the assets so
appropriated being such amount as the Security Trustee shall determine in a
commercially reasonable manner.

 

10.       APPLICATION
OF ENFORCEMENT MONEYS

 

All moneys received
by the Security Trustee in the exercise of any powers conferred by this
Instrument shall be applied, after the discharge of 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 a manner as the Security
Trustee may from time to time determine.

 

11.       RECONVEYANCE

 

Upon the
satisfaction in full of all of the Secured Obligations and there being no
obligation on any Beneficiary to make any of the Secured Obligations available
then:

 

11.1     If the Pledged Securities
have been transferred to or remained registered in the name of the Security
Trustee or its nominee pursuant to Clauses 5.1 and 5.2 then, subject only to
Clause 16 the Security Trustee shall transfer or procure the transfer to the
Company at the Company’s expense, and the Company shall accept the transfer of,
all Pledged Securities then held by or to the order of the Security Trustee and
the Security Trustee shall co-operate in procuring the registration of such
Pledged Securities in the name of the Company or as it shall direct and the
Security Trustee shall execute and do all such other deeds, acts and things as
may be necessary to release the Pledged Securities from the security
constituted hereby; and/or

 

11.2     If the Pledged Securities
have not been transferred to or remained registered in the name of the Security
Trustee or its nominee pursuant to Clauses 5.1 and 5.2 then, subject only to
Clause 16, the Security Trustee shall reassign the property and assets assigned
to the Security Trustee, and do all such other deeds, acts and things as may be
necessary to release the Pledged Securities from the security constituted
hereby.

 

 

12.       PROTECTION
OF SECURITY

 

12.1     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.

 

12.2     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.

 

12.3     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.

 

12.4     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.

 

12.5     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 Pledged Securities 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.

 

12.6     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:

 

12.6.1              any 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 perfect or enforce any of the same; or

 

12.6.2              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

 

12.6.3              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

 

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

 

12.7      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:

 

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

 

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

 

12.7.3              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.

 

13.       FURTHER
ASSURANCE

 

The Company shall
(provided it is permitted to do so by the Existing Security Trustee under the
Existing Share Pledge) 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
Pledged Securities or, on or after the Enforcement Date, for facilitating the
realisation of such rights and the exercise of all powers, authorities and
discretions vested in the Security Trustee, and shall, in particular, on demand
forthwith sign, execute, deliver and complete all transfers, assignments,
assignations, renunciations, mandates, instructions, deeds and documents of
every kind and do or cause to be done, all acts and things of every kind which
the Security Trustee shall from time to time reasonably require by written
notice to the Company to protect or perfect the interest of the Security
Trustee under this Instrument or, subject to the terms of this Instrument (a) to
enable the Security Trustee or the nominees of the Security Trustee to exercise
any rights or powers attaching to the Pledged Securities or (b) to vest
the Pledged Securities in the Security Trustee or the nominees of the Security
Trustee or (c) to enable the Security Trustee to sell or dispose of the
Pledged Securities or otherwise to enforce or exercise any rights or powers
under or in connection with its security.

 

14.       MANDATE AND ATTORNEY

 

14.1      The Company by way of security hereby
irrevocably appoints the Security Trustee to be its attorney in its name and on
its behalf, subject to the terms of this Instrument;

 

14.1.1              to execute and complete on or after the
Enforcement Date any documents or instruments which the Security Trustee may
require for perfecting the title of the Security Trustee to the Pledged
Securities or for vesting the same in the Security Trustee, its nominees or any
purchaser;

 

 

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

 

14.1.3              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 under this Instrument or which may be deemed expedient by the Security
Trustee in connection with any disposition, realisation or getting in by the
Security Trustee of the Pledged Securities or any part thereof or in connection
with any other exercise of any power under this Instrument.

 

14.2     The Company ratifies and confirms and agrees
to ratify and confirm all acts and things which any attorney as is mentioned in
Clause 14.1 shall properly do or purport to do in the exercise of his powers
under such Clause.

 

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 Pledged Securities 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.       INDEMNITIES;
COSTS AND EXPENSES

 

16.1     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.

 

16.2     All costs, charges and
expenses incurred and all payments made by the Security Trustee hereunder in or
about the enforcement, preservation or attempted preservation of the security
created by or pursuant to this Instrument or any of the Pledged Securities
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 and the
Company on the basis of a full and unqualified indemnity.

 

16.3     The Beneficiaries, the Security Trustee and
any 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 Pledged Securities 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:

 

 

 

 

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

 

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

 

16.3.3              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.

 

17.        AVOIDANCE OF PAYMENTS

 

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 the Company 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 the Company for such period as
the Security Trustee may reasonably determine being not longer than 13 months
following the payment, discharge or satisfaction of the Secured Obligations in
full.

 

18.        CURRENCIES

 

18.1      All moneys received or held
by the Security Trustee 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 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.  The Security Trustee shall not have any
liability to the Company in respect of any loss resulting from any fluctuation
in exchange rates after any such sale.

 

18.2      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 security created pursuant hereto to recover the amount
of the shortfall.

 

19.        MISCELLANEOUS

 

19.1      Subject to the provisions
of the Senior Finance Documents, the Company hereby 

 

 

authorises the Security Trustee and the Beneficiaries to exchange between
themselves any information concerning the Pledged Securities unless such
information is the subject of a duty of confidentiality on the part of the
Security Trustee or any Beneficiary not to disclose such information.

 

19.2      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.

 

19.3      Save as otherwise provided
herein, any ability or power which may be exercised or any determination which
may be made under this Instrument by the Security Trustee or a Beneficiary may
be exercised or made in its absolute and unfettered discretion and it shall not
be obliged to give reasons therefor.

 

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

 

20.        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.

 

21.        SET-OFF

 

21.1      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.

 

21.2      For the purpose of Clause
21.1 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.

 

22.        GOVERNING
LAW

 

This Instrument (and
all non-contractual disputes arising out of it) shall be construed and governed
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.

 

 

23.       CONSENT TO REGISTRATION

 

A Certificate signed
by an officer of the Security Trustee shall, 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 consents to the registration of
this Instrument and of any such certificate for preservation:  IN WITNESS WHEREOF
this Instrument consisting of this and the twenty one preceding pages together
with the schedule annexed hereto is executed 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/ VIERA SULIKOVA

  	
  Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  Viera Sulikova

  	
  Print
  full name of Witness

  
	
   

  	
   

  	
   

  
	
   

  	
  99 City Road

  	
  Address
  of Witness

  
	
   

  	
  EC1Y 1AX London

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  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

  
	
   

  	
   

  	
   

  
	
   

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

  	
  Address of Witness

  
	
   

  	
  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

  
	
   

  	
  TELEWEST
  COMMUNICATIONS (MOTHERWELL) 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

  
	
   

  	
   

  	
   

  
	
   

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

  	
  Address of Witness

  
	
   

  	
  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

  
	
   

  	
   

  	
   

  
	
   

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

  	
  Address of Witness

  
	
   

  	
  99 City Road

  	
   

  
	
   

  	
  London EC1Y 1AX

  	
   

  
	
   

  	
  United Kingdom

  	
   

  
	
   

  	
  Tel:
  +44.20.7972.9600

  	
   

  
	
   

  	
  Fax:
  +44.20.7972.9602

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  all together on

  	
   

  
	
   

  	
  at

  	
   

  

 

 

	
   

  	
  Subscribed for and
  on behalf of

  
	
   

  	
  TELEWEST
  COMMUNICATIONS (DUNDEE & PERTH) 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

  
	
   

  	
  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 as Security Trustee acting by

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ NICOLA DAWES

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Nicola Anne Dawes

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ VIKKI MAYELL

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Vikki Anne Mayell

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  all together at
  London

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  on 19th January 2010

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Subscribed for and
  on behalf of

  	
   

  	
   

  
	
   

  	
  DEUTSCHE
  BANK AG, LONDON BRANCH as Existing Security Trustee acting by

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ NICOLA DAWES

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Nicola Anne Dawes

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ VIKKI MAYELL

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Vikki Anne Mayell

  	
   

  	
  Print full name of
  Authorised Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  all together at
  London

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  on 19th January 2010

  	
   

  	
   

  

 

 

This is the Schedule
referred to in the foregoing Shares Pledge by Telewest Communications (Scotland
Holdings) in favour of Deutsche Bank AG, London Branch dated January 2010

 

Pledged
Securities

 

(A)          (i)             17,560,989 fully paid ordinary shares of £1 each in
the capital of Telewest Communications (Dundee & Perth) Limited (with
registered number SC096816);

 

(ii)            8,637,702 fully paid
ordinary ‘A’ shares of £1 each in the capital of Telewest Communications
(Motherwell) Limited (with registered number SC121617);

 

(iii)           105,000,000 fully paid
ordinary ‘B’ shares of £1 each in the capital of Telewest Communications
(Motherwell) Limited (with registered number SC121617);

 

(iii)           480,000 fully paid ordinary
shares of £1 each in the capital of Telewest Communications (Scotland) Limited
(registered number SC080891)

 

(B)           all other securities of every kind which may
at any time, whether directly or indirectly, be derived from any kind of the
said shares, whether by way of bonus, rights, exchange, option, preference,
capital re-organisation or otherwise howsoever; and

 

(C)           where the context so admits, all moneys
(except cash dividends paid in accordance with the terms of the Senior Finance
Documents when no Event of Default has occurred and is continuing) and assets
whatsoever at any time accruing on, or payable or receivable in respect of, any
of the said shares or securities and all voting and other rights and powers of
any kind at any time attaching to, or exercisable in respect of, any of the
said shares or securities.Exhibit 4.26

 

BOND AND FLOATING CHARGE

of all its property
and undertaking

 

by

 

PROSPECTRE 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

  	
  17

  
	
   

  	
   

  	
   

  
	
  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

  
	
   

  	
   

  	
   

  
	
  22.

  	
  CONSENT
  TO REGISTRATION

  	
  20

  

 

 

BOND AND FLOATING CHARGE

 

by

 

1.         PROSPECTRE LIMITED incorporated under the laws of Scotland
(registered number SC145280) whose registered office is at Media House, 60
Maxwell Road, Glasgow G41 1PR (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

PROSPECTRE
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 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"}]]