Subordinated Intercompany Note Proceeds Loan Pledge Agreement Sample Contracts

SUBORDINATED INTERCOMPANY NOTE PROCEEDS LOAN PLEDGE AGREEMENT dated as of November 24, 2004 between Inmarsat Finance II plc as Grantor and The Bank of New York as Trustee
Subordinated Intercompany Note Proceeds Loan Pledge Agreement • November 30th, 2004 • Inmarsat Holdings LTD • New York

This PLEDGE AGREEMENT, dated as of November 24, 2004 (as it may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), between the Inmarsat Finance II plc, a public limited company incorporated under the laws of England and Wales with registered number 5280523 (the “Grantor”), and The Bank of New York, acting in its capacity as trustee and as agent under the Indenture (as defined below) for the benefit of the holders of the Notes issued thereunder, (the “Trustee”).

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