Virgin Media will pay TiVo monthly fees, which commenced upon delivery of its first set-top box, which are guaranteed and increase over time. The agreement has a multi-year term with additional limited renewal rights granted to Virgin. The agreement created a mutually exclusive distribution arrangement under which TiVo will develop software for DVR set top box platforms and non-DVR set-top boxes that will be deployed in the future by Virgin in the United Kingdom. Virgin Media will promote the product and has exclusive rights to use the TiVo brand and technology in the United Kingdom. As part of the agreement, Virgin Media and TiVo entered into a mutual covenant not to assert with regards to each party's intellectual property. Investment bank Lazard Capital Markets estimated the hookup as a "$48 million deal" for TiVo. Virgin Media is to maintain its current Liberate middleware provided by SeaChange International through until at least January 2011.