Punch Taverns (Pmt) Limited

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ALL PRESENT AND FUTURE OBLIGATIONS AND L IABILITIES DUE OR TO BECOME DUE FROM EAC H OBLIGOR TO THE CHARGEE AS SECURITY TRU STEE , THE SENIOR LENDER OR A HEDGING CO UNTERPARTY ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED I NSTRUMENT CREATING OR EVIDENCING THE CHA RGE

ALL PRESENT AND FUTURE OBLIGATIONS AND L IABILITIES DUE OR TO BECOME DUE FROM EAC H OBLIGOR TO THE CHARGEE AS SECURITY TRU STEE , THE SENIOR LENDER OR A HEDGING CO UNTERPARTY ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED I NSTRUMENT CREATING OR EVIDENCING THE CHA RGE

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ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

ANY OBLIGATIONS AND LIABILITIES DUE OR T O BECOME DUE OF EACH OBLIGOR TO ANY SENI OR CREDITOR UNDER EACH SENIOR FINANCE DO CUMENT

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ALL PRESENT AND FUTURE OBLIGATIONS AND L IABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT W HATSOEVER

ALL PRESENT AND FUTURE OBLIGATIONS AND L IABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT W HATSOEVER UNDER THE CREDIT AGREEMENT DAT ED 30TH JULY 2001