Common use of Telewest Liabilities Clause in Contracts

Telewest Liabilities. All liabilities of the Company at the Effective Date arising directly, or indirectly, in relation to, or arising out of or in connection with: (a) the Notes; (b) the Indentures; (c) the Accreting Convertible Notes due 2003 originally issued to Deutsche Telekom (the “Accreting Notes”); (d) the Company’s guarantee of the 6% Senior Convertible Notes due 2005 issued by Telewest Jersey (the “Jersey Notes”) (the “Jersey Guarantee Liability”); and (e) inter-company debt balances owed by the Company to Telewest Jersey in relation to the on-loan of the proceeds of issue of the Jersey Notes (the “Intercompany Debt”), including any liability of the Company in respect of loss or damage suffered or incurred as a result of, or in connection with, such liability (the “Telewest Liabilities”), will be cancelled and exchanged for an entitlement to receive new shares (“New Shares”) in the capital of New Telewest or, in certain circumstances, the proceeds of sale of such New Shares. No other liabilities of the Company will be compromised as part of the Plc Scheme.