VALSTREAM LTD

Nighthawk Luxembourg Sarl

As a continuing security for the payment and discharge of the secured liabilities, the borrower with full title guarantee charges to the security trustee, by way of first legal mortgage, all properties now owned by it including those (if any) specified in schedule 1. as a continuing security for the payment and discharge of the secured liabilities, the borrower with full title guarantee charges to the security trustee by way of first fixed charge: all properties acquired by the borrower in the future; all present and future interests of the borrower not effectively mortgaged or charged. Under the preceding provisions of this clause 3 in, or over, freehold or leasehold property; and all the intellectual property. Please see charge for more details.