means, until the later of the Finance Parties Release Date and the Preference Share Conversion Date, all present and future sums, liabilities and obligations whatsoever payable, owing, due or incurred by the Borrower to any Subordinated Creditor under the Option B Credit Agreements, the Deferred Payment Note Agreement and each Deferred Payment Note, whether or not matured (other than (i) the Additional Work Amounts, (ii) any VAT payable by the Borrower under Clause
7.3 (VAT Undertaking), (iii) the fees of the Subordinated Facility Agent as agreed at the Effective Date, (iv) any costs and expenses payable to a Subordinated Creditor pursuant to this Agreement, and (v) the Option A Repayment Amounts and Option B Repayment Amounts) and "Subordinated Liability" shall be construed accordingly.