UTS ENGINEERING LIMITED

Allica Bank Limited

Conor house, pilgrims way, bede industrial estate, jarrow, NE32 3HG as described in the lease of the same date as this deed and made between (1) northern trust company limited (2) uts engineering limited.

Pulse Finance Limited

1. by way of legal mortgage:. 1.1 on the properties (if any) specified in schedule 2 to the debenture;. 1.2 on all properties (other than any properties specified in schedule 2 to the debenture) now owned by the company or in which the company has an interest;. 2. by way of fixed charge on all of the following assets, whether now or in future belonging to the company:. 2.1 the freehold and leasehold properties of the company not effectively mortgaged under paragraphs 1.1 and 1.2 including such as may thereafter be acquired;. 2.2 all fixtures in, on or attached to the property subject to the legal mortgages under paragraphs 1.1 and 1.2 and all spare parts, replacements, modifications and additions for or to the same;. 2.3 any other freehold and leasehold property which the company shall own together with all fixtures and fittings (including trade fixtures and fittings) and fixed plant and machinery in, on or attached to such property and all spare parts, replacements, modifications and additions for or to the same;. 2.4 all the company’s intellectual property - all patents (including applications, improvements, prolongations, extensions and right to apply therefor) designs (whether registered or unregistered) copyrights, design rights, trademarks and service marks (whether registered or unregistered) utility models, trade and business names, know-how, formulae, inventions, confidential information, trade secrets and computer software programs and systems (including the benefit of any licences or consents relating to any of the above) and all fees, royalties or other rights derived therefrom or incidental thereto in any part of the world.

Together Commercial Finance Limited

The leasehold property known as 30 pilgrims way, jarrow, NE32 3EW registered at hm land registry under title number TY293995.

Together Commercial Finance Limited

The leasehold property known as 30 pilgrims way, jarrow, NE32 3EW registered at hm land registry under title number TY293995.

PULSE CASHFLOW FINANCE 2 LTD

Pulse Cashflow Finance 2 LTD

30 pilgrims way, jarrow, NE32 3EW. (Title no: TY293995).

PULSE CASHFLOW FINANCE 2 LTD

Pulse Cashflow Finance 2 LTD

1. by way of legal mortgage:. 1.1 on the properties (if any) specified in schedule 2 to the debenture;. 1.2 on all properties (other than any properties specified in schedule 2 to the debenture) now owned by the company or in which the company has an interest;. 2. by way of fixed charge on all of the following assets, whether now or in future belonging to the company:. 2.1 the freehold and leasehold properties of the company not effectively mortgaged under paragraphs 1.1 and 1.2 including such as may thereafter be acquired;. 2.2 all fixtures in, on or attached to the property subject to the legal mortgages under paragraphs 1.1 and 1.2 and all spare parts, replacements, modifications and additions for or to the same;. 2.3 any other freehold and leasehold property which the company shall own together with all fixtures and fittings (including trade fixtures and fittings) and fixed plant and machinery in, on or attached to such property and all spare parts, replacements, modifications and additions for or to the same;. 2.4 all the company’s intellectual property - all patents (including applications, improvements, prolongations, extensions and right to apply therefor) designs (whether registered or unregistered) copyrights, design rights, trade marks and service marks (whether registered or unregistered) utility models, trade and business names, know-how, formulae, inventions, confidential information, trade secrets and computer software programs and systems (including the benefit of any licences or consents relating to any of the above) and all fees, royalties or other rights derived therefrom or incidental thereto in any part of the world.

STATE SECURITIES PLC

BIBBY FINANCIAL SERVICES LIMITED (AS SECURITY TRUSTEE)

THE NORTH EAST GROWTH 500 PLUS LP

DEBENTURE

HSBC INVOICE FINANCE (UK) LTD ("THE SECURITY HOLDER")

FIXED CHARGE ON NON-VESTING DEBTS AND FLOATING CHARGE

HSBC BANK PLC

LEGAL ASSIGNMENT

HSBC BANK PLC

LEGAL MORTGAGE

HSBC ASSET FINANCE (UK) LIMITED & HSBC EQUIPMENT FINANCE (UK) LIMITED

CHATTELS MORTGAGE

HSBC BANK PLC

DEBENTURE