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Exhibit 10.1 b

EXECUTION COPY

    

THIRD
AMENDED AND RESTATED LOAN AGREEMENT

AMONG

RURAL CELLULAR CORPORATION;

THE FINANCIAL INSTITUTIONS WHOSE NAMES
APPEAR AS LENDERS ON THE SIGNATURE PAGES HEREOF;

AND

TORONTO DOMINION (TEXAS), INC.
AS ADMINISTRATIVE AGENT

WITH

TD SECURITIES (USA) INC.,
AS BOOK RUNNER AND LEAD ARRANGER;

FIRST UNION NATIONAL BANK
AND PNC BANK, NATIONAL ASSOCIATION
AS CO-SYNDICATION AGENTS

AND

BANK OF AMERICA SECURITIES, LLC
AS DOCUMENTATION AGENT

Dated as of June 29, 2000

Powell, Goldstein, Frazer & Murphy LLP
Atlanta, Georgia

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TABLE OF CONTENTS

 
   
  Page

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ARTICLE 1   DEFINITIONS   2  
ARTICLE 2  
   
LOANS  
   
18    
Section 2.1  
   
The Loans.  
   
18   Section 2.2   Manner of Borrowing and Disbursement   19   Section 2.3  
Interest   21   Section 2.4   Commitment Fees   23   Section 2.5   Mandatory
Commitment Reductions   23   Section 2.6   Voluntary Commitment Reductions   25
  Section 2.7   Prepayments and Repayments   26   Section 2.8   Notes; Loan
Accounts   29   Section 2.9   Manner of Payment   29   Section 2.10  
Reimbursement   30   Section 2.11   Pro Rata Treatment   31   Section 2.12  
Capital Adequacy   32   Section 2.13   Lender Tax Forms   32   Section 2.14  
Incremental Facility Advances   33   Section 2.15   Replacement of Lenders   34
  Section 2.16   Swing Line Loans   34  
ARTICLE 3  
   
CONDITIONS PRECEDENT  
   
36    
Section 3.1  
   
Conditions Precedent to Effectiveness of Agreement  
   
36   Section 3.2   Conditions Precedent to Each Advance   36  
ARTICLE 4  
   
REPRESENTATIONS AND WARRANTIES  
   
37    
Section 4.1  
   
Representations and Warranties  
   
37   Section 4.2   Survival of Representations and Warranties, etc.   42  
ARTICLE 5  
   
GENERAL COVENANTS  
   
42    
Section 5.1  
   
Preservation of Existence and Similar Matters  
   
42   Section 5.2   Business; Compliance with Applicable Law   42   Section 5.3  
Maintenance of Properties   42   Section 5.4   Accounting Methods and Financial
Records   42   Section 5.5   Insurance   43   Section 5.6   Payment of Taxes and
Claims   43   Section 5.7   Compliance with ERISA   43   Section 5.8   Visits
and Inspections   44   Section 5.9   Payment of Indebtedness; Loans   45  
Section 5.10   Use of Proceeds   45   Section 5.11   Real Estate   45   Section
5.12   Indemnity   46   Section 5.13   Interest Rate Hedging   46   Section 5.14
  Covenants Regarding Formation of Subsidiaries and Acquisitions; Partnership,
Subsidiaries   47   Section 5.15   Payment of Wages   47   Section 5.16  
Further Assurances   47

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ARTICLE 6  
   
INFORMATION COVENANTS  
   
47    
Section 6.1  
   
Quarterly Financial Statements and Information  
   
48   Section 6.2   Annual Financial Statements and Information   48   Section
6.3   Performance Certificates   48   Section 6.4   Copies of Other Reports   48
  Section 6.5   Notice of Litigation and Other Matters   49  
ARTICLE 7  
   
NEGATIVE COVENANTS  
   
50    
Section 7.1  
   
Indebtedness of the Borrower and its Subsidiaries  
   
50   Section 7.2   Limitation on Liens   50   Section 7.3   Amendment and Waiver
  51   Section 7.4   Liquidation, Merger, or Disposition of Assets   51  
Section 7.5   Limitation on Guaranties   51   Section 7.6   Investments and
Acquisitions   51   Section 7.7   Restricted Payments and Purchases   53  
Section 7.8   Total Leverage Ratio   53   Section 7.9   Senior Leverage Ratio  
54   Section 7.10   Annualized Operating Cash Flow to Pro Forma Debt   54  
Section 7.11   Annualized Operating Cash Flow to Interest Expense   54   Section
7.12   Fixed Charge Coverage Ratio   54   Section 7.13   Affiliate Transactions
  55   Section 7.14   Real Estate   55   Section 7.15   ERISA Liabilities   55  
ARTICLE 8  
   
DEFAULT  
   
55    
Section 8.1  
   
Events of Default  
   
55   Section 8.2   Remedies   58   Section 8.3   Payments Subsequent to
Declaration of Event of Default   58  
ARTICLE 9  
   
THE AGENTS  
   
59    
Section 9.1  
   
Appointment and Authorization  
   
59   Section 9.2   Interest Holders   59   Section 9.3   Consultation with
Counsel   59   Section 9.4   Documents   59   Section 9.5   Administrative Agent
and Affiliates   59   Section 9.6   Responsibility of the Administrative Agent.
  60   Section 9.7   Collateral   60   Section 9.8   Action by Administrative
Agent   60   Section 9.9   Notice of Default or Event of Default   60   Section
9.10   Responsibility Disclaimed   61   Section 9.11   Indemnification   61  
Section 9.12   Credit Decision   61   Section 9.13   Successor Administrative
Agent.   62   Section 9.14   Delegation of Duties   62   Section 9.15   No
Responsibilities of Agents   62

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ARTICLE 10  
   
CHANGE IN CIRCUMSTANCES AFFECTING LIBOR ADVANCES  
   
62    
Section 10.1  
   
LIBOR Basis Determination Inadequate or Unfair  
   
62   Section 10.2   Illegality   62   Section 10.3   Increased Costs   63  
Section 10.4   Effect On Other Advances   64  
ARTICLE 11  
   
MISCELLANEOUS  
   
64    
Section 11.1  
   
Notices  
   
64   Section 11.2   Expenses   65   Section 11.3   Waivers   65   Section 11.4  
Set-Off   66   Section 11.5   Assignment   66   Section 11.6   Accounting
Principles   68   Section 11.7   Counterparts   69   Section 11.8   Governing
Law   69   Section 11.9   Severability   69   Section 11.10   Interest   69  
Section 11.11   Table of Contents and Headings   70   Section 11.12   Amendment
and Waiver   70   Section 11.13   Entire Agreement   70   Section 11.14   Other
Relationships   70   Section 11.15   Directly or Indirectly   70   Section 11.16
  Reliance on and Survival of Various Provisions   70   Section 11.17   Senior
Debt   71   Section 11.18   Obligations Several   71   Section 11.19  
Confidentiality   71  
ARTICLE 12  
   
WAIVER OF JURY TRIAL  
   
71    
Section 12.1  
   
Waiver of Jury Trial  
   
71

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EXHIBITS

Exhibit A   —   Form of Borrower's Pledge Agreement Exhibit B   —   Form of
Certificate of Financial Condition Exhibit C   —   Form of Notice of Incremental
Facility Commitment Exhibit D   —   Form of Request for Advance Exhibit E   —  
Form of Revolving Loan Note Exhibit F   —   Form of Security Agreement Exhibit G
  —   Form of Subsidiary Guaranty Exhibit H   —   Form of Subsidiary Pledge
Agreement Exhibit I   —   Form of Subsidiary Security Agreement Exhibit J   —  
Form of Term Loan A Note Exhibit K   —   Form of Term Loan B Note Exhibit L   —
  Form of Term Loan C Note Exhibit M   —   Form of Incremental Facility Note
Exhibit N   —   Form of Borrower's Loan Certificate Exhibit O       Form of
Subsidiary Loan Certificate Exhibit P   —   Form of Opinion of FCC Counsel to
the Borrower Exhibit Q   —   Form of Opinion of General Counsel to the Borrower
Exhibit R   —   Form of Performance Certificate Exhibit S   —   Form of
Assignment and Assumption Agreement Exhibit T   —   Form of Request for Swing
Line Advance Exhibit U   —   Form of Swing Line Note

SCHEDULES

Schedule 1   —   Licenses Schedule 2   —   Liens Existing on the Agreement Date
Schedule 3   —   Subsidiaries Schedule 4   —   Permitted Exceptions Schedule 5  
—   Litigation Schedule 6   —   Affiliate Agreements Schedule 7   —   Addresses
of Lenders

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THIRD
AMENDED AND RESTATED LOAN AGREEMENT

AMONG

RURAL CELLULAR CORPORATION, AS BORROWER;

THE FINANCIAL INSTITUTIONS WHOSE NAMES
APPEAR AS LENDERS ON THE SIGNATURE PAGES HEREOF;

TORONTO DOMINION (TEXAS), INC.,
AS ADMINISTRATIVE AGENT

WITH

TD SECURITIES (USA) INC.,
AS BOOK RUNNER AND LEAD ARRANGER;

AND

FIRST UNION NATIONAL BANK
AND PNC BANK, NATIONAL ASSOCIATION
AS CO-SYNDICATION AGENTS

AND

BANK OF AMERICA SECURITIES, LLC
AS DOCUMENTATION AGENT

W I T N E S S E T H:

    WHEREAS, the Borrower, the financial institutions whose names appeared as
Lenders on the signature pages thereof and the Administrative Agent are all
parties to that certain Second Amended and Restated Loan Agreement dated as of
April 3, 2000 (the "Prior Loan Agreement"); and

    WHEREAS, the Borrower has requested that the Administrative Agent and the
Lenders consent to certain amendments to the Prior Loan Agreement, as more fully
set forth in this Third Amended and Restated Loan Agreement; and

    WHEREAS, the Administrative Agent and the Lenders have agreed to amend and
restate the Prior Loan Agreement in its entirety as set forth herein; and

    WHEREAS, the Borrower acknowledges and agrees that the security interest
granted to the Administrative Agent, for itself and on behalf of the Lenders
pursuant to the Prior Loan Agreement and the Loan Documents (as defined in the
Prior Loan Agreement) executed in connection therewith shall remain outstanding
and in full force and effect in accordance with the Prior Loan Agreement and
shall continue to secure the Obligations (as defined therein); and

    WHEREAS, the Borrower acknowledges and agrees that (i) the Obligations (as
defined herein) represent, among other things, the amendment, restatement,
renewal, extension, consolidation and modification of the Obligations (as
defined in the Prior Loan Agreement) arising in connection with the Prior Loan
Agreement and the other Loan Documents (as defined in the Prior Loan Agreement)
executed in connection therewith; (ii) the parties hereto intend that the Prior
Loan Agreement and the other Loan Documents (as defined in the Prior Loan
Agreement) executed in connection therewith and the collateral pledged
thereunder shall secure, without interruption or impairment of any kind, all
existing Indebtedness under the Prior Loan Agreement and the other Loan
Documents (as defined in the Prior Loan Agreement) executed in connection
therewith as so amended, restated, restructured, renewed, extended, consolidated
and modified hereunder, together with all other Obligations hereunder; (iii) all
Liens evidenced by the Prior Loan Agreement and the other Loan Documents (as
defined in the Prior Loan Agreement) executed in connection therewith are hereby
ratified, confirmed

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and continued; and (iv) the Loan Documents (as defined herein) are intended to
restructure, restate, renew, extend, consolidate, amend and modify the Prior
Loan Agreement and the other Loan Documents (as defined in the Prior Loan
Agreement) executed in connection therewith; and

    WHEREAS, the parties hereto intend that (i) the provisions of the Prior Loan
Agreement and the other Loan Documents (as defined in the Prior Loan Agreement)
executed in connection therewith, to the extent restructured, restated, renewed,
extended, consolidated, amended and modified hereby, are hereby superseded and
replaced by the provisions hereof and of the Loan Documents (as defined herein);
and (ii) the Notes (as hereinafter defined) amend, renew, extend, modify,
replace, are substituted for and supersede in their entirety, but do not
extinguish the indebtedness arising under the promissory notes issued pursuant
to the Prior Loan Agreement;

    NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by each of the parties hereto, the
parties hereby amend and restate the Prior Loan Agreement as follows:

ARTICLE 1

Definitions

    For the purposes of this Agreement:

    "2000 Senior Preferred Stock" shall mean those 25,000 shares of 113/8%
Senior Exchangeable Preferred Stock of the Borrower, together with any
additional Senior Preferred Stock issued as payment in kind dividends thereon.

    "Acquisition" shall mean (whether by purchase, lease, exchange, issuance of
stock or other equity or debt securities, merger, reorganization or any other
method) (i) any acquisition by the Borrower or any of its Subsidiaries of any
other Person, which Person shall then become consolidated with the Borrower or
any such Subsidiary in accordance with GAAP or (ii) any acquisition by the
Borrower or any of its Subsidiaries of all or any substantial part of the assets
of any other Person.

    "Administrative Agent" shall mean Toronto Dominion (Texas), Inc., in its
capacity as Administrative Agent for the Lenders and the Swing Line Lender or
any successor Administrative Agent appointed pursuant to Section 9.13 hereof.

    "Administrative Agent's Office" shall mean the office of the Administrative
Agent located at 909 Fannin Street, Suite 1700, Houston, Texas 77010, or such
other office as may be designated pursuant to the provisions of Section 11.1
hereof.

    "Advance" shall mean amounts advanced by the Lenders and the Swing Line
Lender to the Borrower pursuant to Article 2 hereof on the occasion of any
borrowing and having the same Interest Rate Basis and Interest Period; and
"Advances" shall mean more than one Advance.

    "Affiliate" shall mean, with respect to a Person, any other Person directly
or indirectly controlling, controlled by, or under common control with, such
first Person. For purposes of this definition, "control" when used with respect
to any Person includes, without limitation, the direct or indirect beneficial
ownership of more than ten percent (10%) of the voting securities or voting
equity of such Person or the power to direct or cause the direction of the
management and policies of such Person whether by contract or otherwise.

    "Agents" shall mean, collectively, the Administrative Agent, the Lead
Arranger, the Co-Syndication Agents and the Documentation Agent.

    "Agreement" shall mean this Third Amended and Restated Loan Agreement, as
amended, supplemented, restated or otherwise modified from time to time.

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    "Agreement Date" shall mean June 29, 2000.

    "Annualized Operating Cash Flow" shall mean, as of any date, the Operating
Cash Flow for the immediately preceding two (2) fiscal quarters multiplied by
two (2); provided that, for all calculations of Annualized Operating Cash Flow
(a) from and including the Agreement Date through the date on which the Borrower
files its Form 10-Q for the quarter ended March 31, 2000 (the "10-Q Date"),
Annualized Operating Cash Flow shall be Operating Cash Flow for the quarters
ended September 30, 1999 and December 31, 1999 (after giving pro forma effect to
the Triton Acquisition) multiplied by two (2), (b) from the 10-Q Date through
June 29, 2000, Annualized Operating Cash Flow shall be Operating Cash Flow for
the four (4) quarters ended March 31, 2000 (after giving effect to the Triton
Acquisition) and (c) from and including June 30, 2000 through September 29,
2000, Annualized Operating Cash Flow shall be Operating Cash Flow for the
quarter ended June 30, 2000, multiplied by four (4).

    "Applicable Law" shall mean, in respect of any Person, all provisions of
constitutions, statutes, rules, regulations and orders of governmental bodies or
regulatory agencies applicable to such Person, including, without limiting the
foregoing, the Licenses, the Communications Act and all Environmental Laws, and
all orders, decisions, judgments and decrees of all courts and arbitrators in
proceedings or actions to which the Person in question is a party or by which it
is bound.

    "Applicable Margin" shall mean the interest rate margin applicable to Base
Rate Advances and LIBOR Advances under the applicable Loans, as the case may be,
in each case determined in accordance with Section 2.3(f) hereof (or, with
respect to Incremental Facility Advances, as set forth in the Notice of
Incremental Facility Commitment).

    "Approved Fund" means, with respect to any Lender that is a fund that
invests in commercial loans, any other fund that invests in commercial loans and
is managed or advised by the same investment advisor as such Lender or by an
Affiliate of such investment advisor.

    "Authorized Signatory" shall mean such senior personnel of a Person as may
be duly authorized and designated in writing by such Person to execute
documents, agreements and instruments on behalf of such Person.

    "Available Revolving Loan Commitment" shall mean, as of any particular date,
(a) the Revolving Loan Commitments minus (b) the sum of (i) the Revolving Loans
then outstanding, plus (ii) the Swing Line Loans then outstanding.

    "Available Swing Line Commitment" shall mean, at any time, the lesser of
(a) (i) the Swing Line Commitment, minus (ii) Swing Line Advances then
outstanding, and (b) the Available Revolving Loan Commitment.

    "Base Rate" shall mean, at any time, a fluctuating interest rate per annum
equal to the higher of (a) the rate of interest quoted from time to time by the
Administrative Agent as its "prime rate" or "base rate" and (b) the sum of
(i) the Federal Funds Rate and (ii) one-half of one percent (1/2%). The Base
Rate is not necessarily the lowest rate of interest charged to borrowers of the
Administrative Agent.

    "Base Rate Advance" shall mean an Advance which the Borrower requests to be
made as a Base Rate Advance or is Converted to a Base Rate Advance, in
accordance with the provisions of Section 2.2 hereof, and which shall be in a
principal amount of at least $500,000, and in an integral multiple of $100,000.

    "Base Rate Basis" shall mean a simple interest rate equal to the sum of
(i) the Base Rate and (ii) the Applicable Margin for Base Rate Advances with
respect to the applicable Loans. The Base Rate Basis shall be adjusted
automatically as of the opening of business on the effective date of each

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change in the Base Rate to account for such change, and shall also be adjusted
to reflect changes in the Applicable Margin applicable to Base Rate Advances.

    "Borrower" shall mean Rural Cellular Corporation, a Minnesota corporation.

    "Borrower's Pledge Agreement" shall mean that certain Second Amended and
Restated Borrower's Pledge Agreement dated as of April 3, 2000 between the
Borrower and the Administrative Agent, substantially in the form of Exhibit A
attached hereto, pursuant to which the Borrower has pledged to the
Administrative Agent, for itself and on behalf of the Lenders, all of the
Borrower's stock ownership or membership interests in each of its Subsidiaries.

    "BTA" shall mean any "basic trading area" as defined and modified by the FCC
for the purpose of licensing personal communications services telecommunications
systems.

    "Business Day" shall mean a day on which banks and foreign exchange markets
are open for the transaction of business required for this Agreement in Houston,
Texas, New York, New York and London, England, as relevant to the determination
to be made or the action to be taken.

    "Capital Expenditures" shall mean for any period, expenditures (including,
without limitation, the aggregate amount of Capitalized Lease Obligations
required to be paid during such period) incurred by any Person to acquire or
construct fixed assets, plant and equipment (including, without limitation,
renewals, improvements and replacements, but excluding repairs and maintenance)
during such period, that would be required to be capitalized on the balance
sheet of such Person in accordance with GAAP on a consolidated basis for the
Borrower and its Subsidiaries; provided, that for all calculations hereunder
which include periods prior to the Agreement Date, Capital Expenditures
hereunder shall include Capital Expenditures by Triton with respect to the
assets acquired from Triton during such period.

    "Capital Stock" shall mean, as applied to any Person, any capital stock of
such Person, regardless of class or designation, and all warrants, options,
purchase rights, conversion or exchange rights, voting rights, calls or claims
of any character with respect thereto.

    "Capitalized Lease Obligation" shall mean that portion of any obligation of
a Person as lessee under a lease which at the time would be required to be
capitalized on the balance sheet of such lessee in accordance with GAAP.

    "Cellular System" means a cellular mobile radio telephone system constructed
and operated in an MSA or an RSA, or a PCS System constructed and operated in a
BTA and shall include, if operated in connection with (or in the same general
service area as) any of the foregoing systems, (a) a microwave system or a
paging system and (b) land line telephone systems.

    "Certificate of Financial Condition" shall mean a certificate, substantially
in the form of Exhibit B attached hereto, signed by the chief financial officer
of the Borrower, together with any schedules, exhibits or annexes appended
thereto.

    "Class M Stock" shall mean those 110,000 shares of Convertible Voting
Preferred Stock of the Borrower issued on April 3, 2000 in connection with the
Triton Acquisition.

    "Class T Stock" shall mean those (a) 2,176.875 Series A shares and
(b) 5,363.214 Series B shares, in each case of Preferred Stock of the Borrower
issued on April 3, 2000 to Telephone & Data Systems, Inc. in exchange for
certain of their Class A and Class B Common Stock of the Borrower issued,
together with any additional stock of this class issued as payment in kind
dividends thereon.

    "COBRA" shall mean the Consolidated Omnibus Budget Reconciliation Act of
1985 and any amendments thereto.

    "Code" shall mean the Internal Revenue Code of 1986, as amended from time to
time.

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    "Collateral" shall mean any property of any kind constituting collateral for
the Obligations under any of the Security Documents.

    "Commitments" shall mean, collectively, the Revolving Loan Commitments, the
Term Loan A Commitments, the Term Loan B Commitments, the Term Loan C
Commitments and, as applicable, the Incremental Facility Commitments; and
"Commitment" shall mean any of the foregoing Commitments.

    "Commitment Ratios" shall mean the percentages in which the Lenders are
severally bound to fund their respective portion of Advances to the Borrower
under the Commitments set forth on Schedule 7, attached hereto, (together with
dollar amounts) as of April 3, 2000 (and which may change from time to time in
accordance with Sections 2.15 and 11.5 hereof).

    "Communications Act" shall mean the Communications Act of 1934, and any
similar or successor federal statute, and the rules and regulations of the FCC
thereunder, all as the same may be in effect from time to time.

    "Continue", "Continuation" and "Continued" shall mean the continuation
pursuant to Article 2 hereof of a LIBOR Advance as a LIBOR Advance from one
Interest Period to a different Interest Period.

    "Convert", "Conversion" and "Converted" shall mean a conversion pursuant to
Article 2 hereof of a LIBOR Advance into a Base Rate Advance or of a Base Rate
Advance into a LIBOR Advance, as applicable.

    "Cooperative Lender" shall mean CoBank, ACB.

    "Co-Syndication Agents" shall mean First Union National Bank and PNC Bank,
National Association.

    "Debt Service" shall mean, with respect to the Borrower and its
Subsidiaries, for any period, the sum of (a) Scheduled Loan Payments with
respect to the Revolving Loans during such period; (b) scheduled payments of
principal on all Indebtedness for Money Borrowed (other than the Revolving
Loans) during such period and (c) Interest Expense during such period.

    "Default" shall mean any Event of Default, and any of the events specified
in Section 8.1 hereof, regardless of whether there shall have occurred any
passage of time or giving of notice, or both, that would be necessary in order
to constitute such event an Event of Default.

    "Default Rate" shall mean, as of any date, a simple per annum interest rate
equal to the sum of (a) the Base Rate, (b) the Applicable Margin for Base Rate
Advances (calculated using the highest Applicable Margin for Base Rate Advances
for the applicable Loans as set forth in Section 2.3(f) hereof without giving
effect to the Total Leverage Ratio then in effect), and (c) two percent (2%).

    "Deposit Account" shall have the meaning ascribed thereto in Section 2.11(c)
hereof.

    "Documentation Agent" shall mean Bank of America Securities, LLC.

    "EBITDA" shall mean, with respect to any Person for any period, the earnings
before interest, taxes, depreciation and amortization expenses for such period,
all as determined in accordance with GAAP.

    "Employee Pension Plan" shall mean any Plan which is (a) maintained by the
Borrower, any of its Subsidiaries or any of its ERISA Affiliates and (b) subject
to Part 3 of Title I of ERISA.

    "Environmental Laws" shall mean all applicable federal, state or local laws,
statutes, rules, regulations or ordinances, codes, common law, consent
agreements, orders, decrees, judgments or injunctions issued, promulgated,
approved or entered thereunder relating to public health, safety or the
pollution or protection of the environment, including, without limitation, those
relating to releases,

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discharges, emissions, spills, leaching, or disposals to air, water, land or
ground water, to the withdrawal or use of ground water, to the use, handling or
disposal of polychlorinated biphenyls, asbestos or urea formaldehyde, to the
treatment, storage, disposal or management of hazardous substances (including,
without limitation, petroleum, crude oil or any fraction thereof, or other
hydrocarbons), pollutants or contaminants, to exposure to toxic, hazardous or
other controlled, prohibited, or regulated substances, including, without
limitation, any such provisions under the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended (42 U.S.C. § 9601 et seq.),
or the Resource Conservation and Recovery Act of 1976, as amended (42 U.S.C. §
6901 et seq.).

    "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
in effect from time to time.

    "ERISA Affiliate" shall mean any Person, including a Subsidiary or an
Affiliate of the Borrower, that is a member of any group of organizations
(within the meaning of Code Sections 414(b), (c), (m) or (o)) of which the
Borrower is a member.

    "Eurodollar Reserve Percentage" shall mean the percentage which is in effect
from time to time under Regulation D of the Board of Governors of the Federal
Reserve System, as such regulation may be amended from time to time ("Regulation
D"), as the maximum reserve requirement applicable with respect to Eurocurrency
Liabilities (as that term is defined in Regulation D), whether or not any Lender
has any such Eurocurrency Liabilities subject to such reserve requirement at
that time.

    "Event of Default" shall mean any of the events specified in Section 8.1
hereof, provided that any requirement for notice or lapse of time has been
satisfied.

    "Excess Cash Flow" shall mean, as of the end of any fiscal year of the
Borrower based on the audited financial statements provided under Section 6.2
hereof for such fiscal year, the remainder of (a) Operating Cash Flow for such
fiscal year, minus (b) the sum of (i) Capital Expenditures made during such
fiscal year exclusive of Investments by the Borrower in Wireless Alliance
permitted hereunder, (ii) Scheduled Loan Payments made during such period,
(iii) cash taxes paid by the Borrower and its Subsidiaries during such fiscal
year, (iv) Interest Expense during such fiscal year, (v) principal payments in
respect of Indebtedness for Money Borrowed (other than with respect to the
Revolving Loans) paid by the Borrower and its Subsidiaries during such year and
(vi) $1,000,000.

    "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended
from time to time.

    "FCC" shall mean the Federal Communications Commission, or any other similar
or successor agency of the federal government administering the Communications
Act.

    "Federal Funds Rate" shall mean, as of any date, the weighted average of the
rates on overnight federal funds transactions with the members of the Federal
Reserve System arranged by federal funds brokers, as published for such day (or,
if such day is not a Business Day, for the next preceding Business Day) by the
Federal Reserve Bank of New York, or, if such rate is not so published for any
day which is a Business Day, the average of the quotations for such day on such
transactions received by the Administrative Agent from three (3) federal funds
brokers of recognized standing selected by the Administrative Agent.

    "GAAP" shall mean, as in effect from time to time, generally accepted
accounting principles in the United States, consistently applied.

    "Guaranty" or "Guaranteed," as applied to an obligation, shall mean and
include (a) a guaranty, direct or indirect, in any manner, of all or any part of
such obligation, and (b) any agreement, direct or indirect, contingent or
otherwise, the practical effect of which is to assure in any way the payment or
performance (or payment of damages in the event of non-performance) of all or
any part of such obligation, including, without limiting the foregoing, any
reimbursement obligations as to amounts drawn down by beneficiaries of
outstanding letters of credit or capital call requirements.

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    "Headquarter's Mortgage" shall mean those certain Mortgages in favor of the
Administrative Agent (on behalf of the Lenders) and pertaining to the Borrower's
headquarter's properties located in Alexandria, Minnesota.

    "Incremental Facility Advance" shall mean an Advance made by any Lender
holding an Incremental Facility Commitment pursuant to Section 2.14 hereof.

    "Incremental Facility Commitment" shall mean the commitment of any Lender or
Lenders to make advances to the Borrower in accordance with Section 2.14 hereof
(the Borrower may obtain Incremental Facility Commitments from more than one
Lender, which commitments shall be several obligations of each such Lender); and
"Incremental Facility Commitments" shall mean the aggregate of the Incremental
Facility Commitments of each Lender.

    "Incremental Facility Commitment Ratios" shall mean percentages in which the
Lenders holding an Incremental Facility Commitment are severally bound to fund
their respective portions of Advances to the Borrower under the Incremental
Facility Commitments which are set forth in the Notice of Incremental Facility
Commitment.

    "Incremental Facility Loans" shall mean the amounts advanced by the Lenders
holding an Incremental Facility Commitment to the Borrower as Incremental
Facility Loans under the Incremental Facility Commitment, and evidenced by the
Incremental Facility Notes.

    "Incremental Facility Maturity Date" shall mean that date specified in the
Notice of Incremental Facility Commitment as the maturity date of an Incremental
Facility Advance.

    "Incremental Facility Notes" shall mean those certain Incremental Facility
Notes described in Section 2.14 hereof.

    "Indebtedness" shall mean, with respect to any Person, and without
duplication, (a) all items, except items of shareholders' and partners' equity
or capital stock or surplus or general contingency or deferred tax reserves,
which in accordance with GAAP would be included in determining total liabilities
as shown on the liability side of a balance sheet of such Person, including,
without limitation, to the extent of the higher of the book value or fair market
value of the property or asset securing such obligation (if less than the amount
of such obligation), secured non-recourse obligations of such Person, (b) all
direct or indirect obligations of any other Person secured by any Lien to which
any property or asset owned by such Person is subject, but only to the extent of
the higher of the fair market value or the book value of the property or asset
subject to such Lien (if less than the amount of such obligation) if the
obligation secured thereby shall not have been assumed, (c) to the extent not
otherwise included, all Capitalized Lease Obligations of such Person and all
obligations of such Person with respect to leases constituting part of a sale
and lease-back arrangement, (d) all reimbursement obligations with respect to
outstanding letters of credit, and (e) to the extent not otherwise included, all
obligations subject to Guaranties of such Person or its Subsidiaries, and
(f) all obligations of such Person under Interest Hedge Agreements.

    "Indebtedness for Money Borrowed" shall mean, with respect to any Person,
Indebtedness for money borrowed and Indebtedness represented by notes payable
and drafts accepted representing extensions of credit, all obligations evidenced
by bonds, debentures, notes or other similar instruments, all Indebtedness upon
which interest charges are customarily paid, all Capitalized Lease Obligations,
all reimbursement obligations with respect to outstanding letters of credit, all
Indebtedness issued or assumed as full or partial payment for property or
services (other than trade payables arising in the ordinary course of business,
but only if and so long as such accounts are payable on customary trade terms),
whether or not any such notes, drafts, obligations or Indebtedness represent
Indebtedness for money borrowed, purchase money indebtedness and, without
duplication, Guaranties of any of the foregoing but excluding Preferred Stock.
For purposes of this definition, interest which is accrued but

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not paid on the scheduled due date for such interest shall be deemed
Indebtedness for Money Borrowed.

    "Indemnitee" shall have the meaning ascribed thereto in Section 5.12 hereof.

    "Interest Expense" shall mean, for any period, all cash interest expense
(including imputed interest with respect to Capitalized Lease Obligations) with
respect to any Indebtedness for Money Borrowed of the Borrower and its
Subsidiaries on a consolidated basis during such period pursuant to the terms of
such Indebtedness for Money Borrowed, together with all fees payable in respect
thereof, all as calculated in accordance with GAAP (including, without
limitation, all cash interest paid on any Subordinated Indebtedness) and
dividends paid in cash with respect to the Preferred Stock; provided, however,
that for all calculations of Interest Expense (a) from and including April 3,
2000 through June 29, 2000 shall be calculated with respect to the Loans
assuming that the Loans advanced on April 3, 2000 were outstanding for the
relevant period at the interest rates in effect for such Loans (and giving
effect to Advances made subsequent to April 3, 2000, if applicable), (b) from
and including June 30, 2000 through September 29, 2000, shall be Interest
Expense for the quarter ended June 30, 2000, multiplied by four (4), (c) from
and including September 30, 2000, through December 30, 2000, shall be Interest
Expense for the two quarter period ended September 30, 2000 multiplied by two
(2), and (d) from and including December 31, 2000 through March 30, 2001, shall
be Interest Expense for the three (3) quarters ending December 31, 2000
multiplied by 4/3.

    "Interest Hedge Agreements" shall mean the obligations of any Person
pursuant to any arrangement with any other Person whereby, directly or
indirectly, such Person is entitled to receive from time to time periodic
payments calculated by applying either a floating or a fixed rate of interest on
a stated notional amount in exchange for periodic payments made by such Person
calculated by applying a fixed or a floating rate of interest on the same
notional amount and shall include, without limitation, interest rate swaps,
caps, floors, collars and similar agreements.

    "Interest Period" shall mean (a) in connection with any Base Rate Advance,
the period beginning on the date such Advance is made and ending on the last day
of the calendar quarter in which such Advance is made; provided, however, that
if a Base Rate Advance is made on the last day of any calendar quarter, it shall
have an Interest Period ending on, and its Payment Date shall be, the last day
of the following calendar quarter, and (b) in connection with any LIBOR Advance,
the term of such Advance selected by the Borrower or otherwise determined in
accordance with this Agreement. Notwithstanding the foregoing, however, (i) any
applicable Interest Period which would otherwise end on a day which is not a
Business Day shall be extended to the next succeeding Business Day unless, with
respect to LIBOR Advances only, such Business Day falls in another calendar
month, in which case such Interest Period shall end on the next preceding
Business Day, (ii) any applicable Interest Period, with respect to LIBOR
Advances only, which begins on a day for which there is no numerically
corresponding day in the calendar month during which such Interest Period is to
end shall (subject to clause (i) above) end on the last day of such calendar
month, and (iii) the Borrower shall not select an Interest Period which extends
beyond the Revolving Loan Maturity Date, Term Loan A Maturity Date, Term Loan B
Maturity Date, Term Loan C Maturity Date or Incremental Facility Maturity Date,
as applicable or such earlier date as would interfere with the Borrower's
repayment obligations under Section 2.4, 2.6 or 2.7 hereof. Interest shall be
due and payable with respect to any Advance as provided in Section 2.3 hereof.

    "Interest Rate Basis" shall mean the Base Rate Basis or the LIBOR Basis, as
appropriate.

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    "Investment" shall mean, with respect to the Borrower or any of its
Subsidiaries, (a) any loan, advance or extension of credit (other than to
customers in the ordinary course of business) by such Person to, or any Guaranty
or other contingent liability with respect to the capital stock, Indebtedness or
other obligations of, or any contributions to the capital of, any other Person,
or any ownership, purchase or other acquisition by such Person of any interest
in any capital stock, limited partnership interest, general partnership
interest, or other securities of any such other Person, other than an
Acquisition, (b) any acquisition by the Borrower or any of its Subsidiaries of
any assets relating to the wireless communications business, and (c) all
expenditures by the Borrower or any of its Subsidiaries relating to the
foregoing. "Investment" shall also include the total cost of any future
commitment or other obligation binding on any Person to make an Investment or
any subsequent Investment.

    "Junior Preferred Stock" shall mean those 140,000 shares of 121/4% Junior
Exchangeable Preferred Stock of the Borrower issued February 11, 2000, together
with any additional Junior Preferred Stock issued as payment in kind dividends
thereon.

    "Known to the Borrower" or "to the knowledge of the Borrower" shall mean
known by or reasonably should have been known by the executive officers of the
Borrower (which shall include, without limitation, the chief executive officer,
the chief financial officer, the general counsel, or any vice president of the
Borrower).

    "Lead Arranger" shall mean TD Securities (USA) Inc.

    "Lenders" shall mean the Persons whose names appear as "Lenders" on the
signature pages hereof and any other Person which becomes a "Lender" hereunder
after April 3, 2000; and "Lender" shall mean any one of the foregoing Lenders;
and for the purposes of the Security Documents, "Lenders" shall include other
holders of Obligations hereunder.

    "LIBOR" shall mean, for any Interest Period, the average (rounded upward to
the nearest one-hundredth (1/100th) of one percent (1%)) of the interest rates
per annum at which deposits in United States Dollars for such Interest Period
are offered to The Toronto-Dominion Bank, in the London interbank borrowing
market at approximately 11:00 a.m. (London, England time), two (2) Business Days
before the first day of such Interest Period, in an amount approximately equal
to the principal amount of, and for a length of time approximately equal to the
Interest Period for, the LIBOR Advance sought by the Borrower.

    "LIBOR Advance" shall mean an Advance which the Borrower requests to be made
as, Converted to or Continued as a LIBOR Advance, in accordance with the
provisions of Section 2.2 hereof, and which shall be in a principal amount of at
least $1,000,000 and in an integral multiple of $1,000,000.

    "LIBOR Basis" shall mean a simple per annum interest rate equal to the sum
of (a) the quotient of (i) LIBOR divided by (ii) one (1) minus the Eurodollar
Reserve Percentage, if any, stated as a decimal, plus (b) the Applicable Margin
for LIBOR Advances for the applicable Loans. The LIBOR Basis shall apply to
Interest Periods of one (1), two (2), three (3), six (6) months, and, subject to
availability as determined by the Administrative Agent, nine (9) and twelve
(12) months and, once determined, shall remain unchanged during the applicable
Interest Period, except for changes to reflect adjustments in the Eurodollar
Reserve Percentage and the Applicable Margin as adjusted pursuant to
Section 2.3(f) hereof. The LIBOR Basis for any LIBOR Advance shall be adjusted
as of the effective date of any change in the Eurodollar Reserve Percentage.

    "Licenses" shall mean any cellular telephone, microwave, personal
communications or other license, authorization, certificate of compliance,
franchise, approval or permit, whether for the construction or the operation of
any Cellular System, granted or issued by the FCC and held by the Borrower or
any of its Subsidiaries, all of which are listed as of April 3, 2000 on
Schedule 1 hereto.

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    "Lien" shall mean, with respect to any property, any mortgage, lien, pledge,
negative pledge or other agreement not to pledge, assignment, charge, security
interest, title retention agreement, levy, execution, seizure, attachment,
garnishment or other encumbrance of any kind in respect of such property,
whether created by statute, contract, the common law or otherwise, and whether
or not choate, vested or perfected.

    "Loan Documents" shall mean this Agreement, the Notes, the Security
Documents, all fee letters, all Requests for Advance, all Requests for Swing
Line Advances, all Interest Hedge Agreements between the Borrower, on the one
hand, and the Administrative Agent or any of the Lenders (or any of their
Affiliates) on the date such Interest Hedge Agreement was entered into, or any
of them, on the other hand, all Notices of Incremental Facility Commitments, and
all other certificates, documents, instruments and agreements executed or
delivered in connection with or contemplated by this Agreement or any other Loan
Document.

    "Loans" shall mean, collectively, the Term Loans, the Revolving Loans, and,
if applicable, the Incremental Facility Loans and the Swing Line Loans; and
"Loan" shall mean any one of the foregoing Loans.

    "Materially Adverse Effect" shall mean (a) any material adverse effect upon
the business, assets, liabilities, financial condition, results of operations,
properties, or business prospects of the Borrower and its Subsidiaries on a
consolidated basis, taken as a whole, or (b) a material adverse effect upon the
binding nature, validity, or enforceability of this Agreement and the Notes, or
upon the ability of the Borrower and its Subsidiaries to perform the payment
obligations or other material obligations under this Agreement or any other Loan
Document, or upon the value of the Collateral or upon the rights, benefits or
interests of the Lenders in and to the Loans or the rights of the Administrative
Agent and the Lenders in the Collateral; in either case, whether resulting from
any single act, omission, situation, status, event or undertaking, or taken
together with other such acts, omissions, situations, statuses, events or
undertakings.

    "MSA" shall mean any "metropolitan statistical area" as defined and modified
by the FCC for the purpose of licensing public cellular radio telecommunications
service systems.

    "Multiemployer Plan" shall mean a multiemployer pension plan as defined in
Section 3(37) of ERISA to which the Borrower, any of its Subsidiaries, or any of
its ERISA Affiliates is or has been required to contribute subsequent to
September 25, 1980.

    "Necessary Authorizations" shall mean all approvals and licenses from, and
all filings and registrations with, any governmental or other regulatory
authority, including, without limitation, the Licenses and all approvals,
licenses, filings and registrations under the Communications Act, necessary in
order to enable the Borrower and its Subsidiaries to own, construct, maintain,
and operate Cellular Systems and to invest in other Persons who own, construct,
maintain, and operate Cellular Systems.

    "Net Income" shall mean, for the Borrower and its Subsidiaries on a
consolidated basis, for any period, net income determined in accordance with
GAAP.

    "Net Proceeds" shall mean, with respect to any sale, lease, transfer or
other disposition of assets by, or insurance or condemnation proceedings with
respect to the assets of the Borrower or any of its Subsidiaries, the aggregate
amount of cash received for such assets (including, without limitation, any
payments received by the Borrower or any of its Subsidiaries for non-competition
covenants, consulting or management fees in connection with such sale, and any
portion of the amount received evidenced by a promissory note or other evidence
of Indebtedness issued by the purchaser), net of (i) amounts reserved, if any,
for taxes payable with respect to any such sale (after application (assuming
application, to the extent permitted by Applicable Law, first to such reserves)
of any available losses, credits or other offsets), (ii) reasonable and
customary transaction costs properly attributable to such transaction or
proceeding and payable by the Borrower or any of its Subsidiaries (other than to
an Affiliate) in

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connection with such transaction or proceeding, including, without limitation,
commissions, and (iii) until actually received by the Borrower or any of its
Subsidiaries, any portion of the amount (x) received held in escrow or
(y) evidenced by a promissory note or other evidence of Indebtedness issued by a
purchaser or non-compete agreement or covenant or (z) otherwise for which
compensation is paid over time. Upon receipt by the Borrower or any of its
Subsidiaries of (A) amounts referred to in item (iii) of the preceding sentence,
or (B) if there shall occur any reduction in the tax reserves referred to in
item (i) of the preceding sentence resulting in a payment to the Borrower, such
amounts shall then be deemed to be "Net Proceeds."

    "Non-U.S. Bank" shall have the meaning ascribed thereto in Section 2.8(a)
hereof.

    "Notes" shall mean, collectively, the Term Loan Notes, the Revolving Loan
Notes, if applicable, the Incremental Facility Notes, the Swing Line Note and
any other promissory note issued by the Borrower to evidence the Term Loans,
Revolving Loans or the Swing Line Loans pursuant to this Agreement, and any
extensions, renewals, or amendments to, or replacements of, the foregoing; and
"Note" shall mean any one of the foregoing Notes.

    "Notice of Incremental Facility Commitment" shall mean the notice by the
Borrower of the Incremental Facility Commitment, which notice shall be
substantially in the form of Exhibit C attached hereto and shall be delivered to
the Administrative Agent and the Lenders.

    "Obligations" shall mean all payment and performance obligations of every
kind, nature and description of the Borrower, its Subsidiaries, and any other
obligors to the Lenders, the Swing Line Lender, the Administrative Agent, or any
of them, under this Agreement and the other Loan Documents (including, without
limitation, any interest, fees and other charges on the Loans or otherwise under
the Loan Documents that would accrue but for the filing of a bankruptcy action
with respect to the Borrower, whether or not such claim is allowed in such
bankruptcy action and including Obligations to the Lenders pursuant to
Section 5.13 hereof) as they may be amended from time to time, or as a result of
making the Loans, whether such obligations are direct or indirect, absolute or
contingent, due or not due, contractual or tortious, liquidated or unliquidated,
arising by operation of law or otherwise, now existing or hereafter arising.

    "Operating Cash Flow" shall mean, with respect to the Borrower and its
Subsidiaries on a consolidated basis as of the end of any period, (a) Net Income
for such period (after eliminating any extraordinary gains and losses,
including, without limitation, gains and losses from the sale of assets), plus
(b) to the extent deducted in determining Net Income, the sum of the following
for such period: (i) depreciation and amortization expense, (ii) Interest
Expense, (iii) tax expense, and (iv) all other non-cash items (which shall
include non-cash interest expense, if any), minus (c) the sum of (i) non-cash
credits to Net Income and (ii) EBITDA of Wireless Alliance. In the case of an
Acquisition permitted hereunder, Operating Cash Flow of the Borrower and its
Subsidiaries for the applicable test period during which such Acquisition occurs
shall be adjusted (A) to give effect to such Acquisition, as if such Acquisition
had occurred on the first day of such test period, by excluding the Operating
Cash Flow of such Acquisition during such test period prior to the date of such
Acquisition and adding to the Operating Cash Flow of the Borrower, if positive,
or subtracting from such Operating Cash Flow, if negative, the product of
(i) the actual Operating Cash Flow of such Acquisition for that portion of such
test period from the date of such Acquisition to the last day of such period,
times (ii)  a fraction the numerator of which is the number of calendar days in
such test period and the denominator of which is the number of days in such test
period from and including the date of such Acquisition through the last day of
such test period, and (B) by adding to the Operating Cash Flow of the Borrower
such expenses incurred by the Borrower and its Subsidiaries as the Required
Lenders may agree relate to such Acquisition. For purposes of calculating
Operating Cash Flow in connection with an Advance for any such Acquisition,
Operating Cash Flow for the Borrower and its Subsidiaries as of the last day of
the

11

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immediately preceding calendar quarter shall include Operating Cash Flow for the
Acquisition for the same period and shall exclude any dispositions of assets
during the same period.

    "Payment Date" shall mean the last day of any Interest Period.

    "PBGC" shall mean the Pension Benefit Guaranty Corporation, or any successor
thereto.

    "PCS System" shall mean any broad band personal communications services
telecommunications system operating on radio spectrum in a BTA, or a License to
operate such a system.

    "Permitted Liens" shall mean, as applied to any Person:

    (a) Any Lien in favor of the Administrative Agent given to secure the
Obligations;

    (b) (i) Liens on real estate or other property for taxes, assessments,
governmental charges or levies not yet delinquent and (ii) Liens for taxes,
assessments, judgments, governmental charges or levies or claims the non-payment
of which is being diligently contested in good faith by appropriate proceedings
and for which adequate reserves have been set aside on such Person's books, but
only so long as no foreclosure, distraint, sale or similar proceedings have been
commenced with respect thereto;

    (c) Liens of carriers, warehousemen, mechanics, laborers and materialmen
incurred in the ordinary course of business for sums not yet due or being
diligently contested in good faith, if reserves or appropriate provisions shall
have been made therefor;

    (d) Liens incurred in the ordinary course of business in connection with
workers' compensation and unemployment insurance which are not overdue for more
than sixty (60) days;

    (e) Restrictions on the transfer of the Licenses or assets of the Borrower
or its Subsidiaries imposed by any of the Licenses as presently in effect or by
the Communications Act and any regulations thereunder;

    (f)  Easements, rights-of-way, and other similar encumbrances on the use of
real property which do not materially interfere with the ordinary conduct of the
business of such Person or the use of such property;

    (g) Liens securing Indebtedness to the extent permitted pursuant to Sections
7.1(g) and (i) hereof;

    (h) Liens reflected by Uniform Commercial Code financing statements filed in
respect of Capitalized Lease Obligations permitted pursuant to
Section 7.1(i) hereof and true leases of the Borrower or any of its
Subsidiaries; and

    (i)  Liens set forth on Schedule 2 attached hereto.

    "Person" shall mean an individual, corporation, limited liability company,
association, partnership, joint venture, trust or estate, an unincorporated
organization, a government or any agency or political subdivision thereof, or
any other entity.

    "Plan" shall mean an employee benefit plan within the meaning of
Section 3(3) of ERISA or any other employee benefit plan maintained for
employees of the Borrower or any ERISA Affiliate of the Borrower, including the
Subsidiaries.

    "Preferred Stock" shall mean the Previous Senior Preferred Stock, the 2000
Senior Preferred Stock, the Junior Preferred Stock, the Class M Stock and the
Class T Stock.

    "Previous Senior Preferred Stock" shall mean those 125,000 shares of 113/8%
Senior Exchangeable Preferred Stock of the Borrower, issued on May 14, 1998,
together with additional 113/8% Senior Exchangeable Preferred Stock of the
Borrower issued as payment in kind dividends thereon.

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    "Pro Forma Debt Service" shall mean, with respect to the Borrower and its
Subsidiaries, for any period, the sum of (a) Pro Forma Scheduled Principal
Payments with respect to the Revolving Loans during such period, (b) scheduled
payments of principal with respect to the Term Loans during such period, and
(c) scheduled payments on all other Indebtedness for Money Borrowed during such
period.

    "Pro Forma Scheduled Principal Payments" shall mean for any period (a) the
outstanding principal amount of the Revolving Loans on the date of determination
minus (b) the Revolving Loan Commitment scheduled to be available on the last
day of such period after giving effect to the reductions set forth in
Section 2.5(a) hereof.

    "Refinancing Date" shall mean that date six months prior to the May 2008
maturity date of the Subordinated Notes.

    "Register" shall have the meaning ascribed to such term in Section 11.5(g)
hereof.

    "Registered Noteholder" shall mean each Non-U.S. Bank that requests or holds
a Registered Note pursuant to Section 2.8(a) hereof or registers its Loans
pursuant to Section 11.5(g) hereof.

    "Registered Notes" shall mean, collectively, those certain Notes that have
been issued in registered form in accordance with Sections 2.8(a) and 11.5(g)
hereof and each of which bears the following legend: "This is a Registered Note,
and this Registered Note and the Loans evidenced hereby may be assigned or
otherwise transferred in whole or in part only by registration of such
assignment or transfer on the Register and in compliance with all other
requirements provided for in the Loan Agreement."

    "Regulations" shall have the meaning ascribed thereto in Section 4.1(n)
hereof.

    "Reportable Event" shall mean, with respect to any Employee Pension Plan, an
event described in Section 4043(b) of ERISA.

    "Request for Advance" shall mean a certificate designated as a "Request for
Advance," signed by an Authorized Signatory of the Borrower requesting an
Advance hereunder, which shall be in substantially the form of Exhibit D
attached hereto, and shall, among other things, (i) specify the date of the
Advance, which shall be a Business Day, the amount of the Advance, the type of
Advance (LIBOR or Base Rate), and, with respect to LIBOR Advances, the Interest
Period selected by the Borrower, (ii) state that, to the knowledge of the Person
signing such request, there shall not exist, on the date of the requested
Advance and after giving effect thereto, a Default, as of the date of such
Advance and after giving effect thereto, (iii) the Applicable Margin, and
(iv) designate the amount of the Revolving Loan Commitments and, if applicable,
the Term Loan A Commitments, Term Loan B Commitments, Term Loan C Commitments
and the Incremental Facility Commitments, being drawn.

    "Request for Swing Line Advance" shall mean any certificate signed by an
Authorized Signatory of the Borrower requesting a Swing Line Advance hereunder
which will increase the aggregate amount of the Swing Line Loans outstanding,
which certificate shall be denominated a "Request for Swing Line Advance," shall
be in substantially the form of Exhibit T attached hereto and shall, among other
things, (a) specify the date of the Swing Line Advance, which shall be a
Business Day, (b) specify the amount of the Swing Line Advance and certify that
the use of the proceeds thereof will be in compliance with the terms of this
Agreement, (c) state that there shall not exist, on the date of the requested
Swing Line Advance and after giving effect thereto, a Default or an Event of
Default, (d) state that all conditions precedent to the making of the Swing Line
Advance have been satisfied and (e) certify that the aggregate amount of the
Swing Line Loans and the Loans, together with the amount of the Swing Line
Advance, does not exceed the Available Swing Line Commitment.

    "Required Lenders" shall mean collectively, (a) if there are no Loans
outstanding, Lenders the total of whose Commitment Ratios equals or exceeds
fifty-one percent (51%) of the Commitment Ratios of all Lenders entitled to vote
hereunder or (b) if there are any Loans outstanding, Lenders the total of whose
Commitment Ratios for Revolving Loans (and Incremental Facility Commitment
Ratios as

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applicable) and Term Loans A Loans, Term Loan B Loans and Term Loan C Loans
outstanding equals or exceeds fifty-one percent (51%) of the Commitment Ratios
for Revolving Loans (and Incremental Facility Commitment Ratios as Applicable)
and Term Loan A Loans, Term Loan B Loans, and Term Loan C Loans of all Lenders
entitled to vote hereunder.

    "Restricted Payment" shall mean any direct or indirect cash distribution,
dividend, cash interest payment or other payment to any Person (other than to
the Borrower or any majority-owned Subsidiary of the Borrower) on account of
(a) any general or limited partnership or membership interest in, or shares of
Capital Stock or other securities of, the Borrower or any of its Subsidiaries
(other than dividends payable solely in stock of such Person and stock splits),
including, without limitation, any direct or indirect distribution, dividend or
other payment to any Person (other than to the Borrower or any Subsidiary of the
Borrower) on account of any warrants or other rights or options to acquire
shares of capital stock of the Borrower or any of its Subsidiaries and
(b) Subordinated Indebtedness.

    "Restricted Purchase" shall mean any payment (including, without limitation,
any sinking fund payment, prepayment or installment payment) on account of the
purchase, redemption or other acquisition or retirement of any general or
limited partnership or membership interest in, or shares of capital stock or
other securities of the Borrower or any of the Borrower's Subsidiaries,
including, without limitation, any warrants or other rights or options to
acquire shares of capital stock of the Borrower or any of the Borrower's
Subsidiaries or any loan, advance, release or forgiveness of Indebtedness by the
Borrower or its Subsidiaries to any partner, shareholder or Affiliate of any
such Person.

    "Revolving Loan Commitments" shall mean the several obligations of the
Lenders to advance to the Borrower an aggregate amount of up to $275,000,000 at
any one time outstanding, in accordance with their respective Commitment Ratios
for Revolving Loans as set forth in the definition of "Commitment Ratios"
pursuant to the terms hereof, and as such obligations may be reduced from time
to time pursuant to the terms hereof.

    "Revolving Loan Maturity Date" shall mean April 3, 2008, or as the case may
be, such earlier date as payment of the Obligations shall be due (whether by
acceleration, reduction of the Commitments to zero or otherwise); provided,
however, that if the Subordinated Notes are not repaid or refinanced prior to
the Refinancing Date, the Revolving Loan Maturity Date shall accelerate to that
Refinancing Date.

    "Revolving Loan Notes" shall mean, collectively, those certain revolving
promissory notes in the aggregate original principal amount of the Revolving
Loan Commitments and one issued by the Borrower to each of the Lenders holding a
Revolving Loan Commitment, each substantially in the form of Exhibit E attached
hereto, and any extensions, modifications, renewals or replacements of, or
amendments to, any of the foregoing.

    "Revolving Loans" shall mean the amounts advanced by each Lender having a
Revolving Loan Commitment to the Borrower as Revolving Loans, and evidenced by
the Revolving Loan Notes.

    "RSA" shall mean any "rural service area" as defined and modified by the FCC
for the purpose of licensing public cellular radio telecommunications service
systems.

    "Saco River" shall mean Saco River Telegraph and Telephone Company, a Maine
corporation.

    "Saco River Acquisition" shall mean the Acquisition by the Borrower of
substantially all of the stock of Saco River.

    "Saco River Agreement" shall mean that certain Agreement and Plan of Merger
dated as of June 20, 2000 by and between the Borrower, Saco River and certain
stockholders of Saco River.

    "Scheduled Loan Payments" shall mean, for any period, with respect to the
Revolving Loans, the excess, if any, of (i) the highest amount of the Revolving
Loans outstanding at any time during such

14

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period, over (ii) the amount of the Revolving Loan Commitments on the last day
of such period (after giving effect to any reduction in the Revolving Loan
Commitments on such date pursuant to Section 2.5 hereof).

    "Security Agreement" shall mean that certain Second Amended and Restated
Security Agreement dated as of April 3, 2000 by and between the Borrower and the
Administrative Agent, for itself and on behalf of the Lenders, substantially in
the form of Exhibit F attached hereto.

    "Security Documents" shall mean the Borrower's Pledge Agreement, the
Security Agreement, each Subsidiary Guaranty, each Subsidiary Pledge Agreement,
each Subsidiary Security Agreement, the Headquarter's Mortgage, any other
agreement or instrument providing Collateral for the Obligations whether now or
hereafter in existence, and any filings (including, without limitation,
financing statements), instruments, agreements, and documents related thereto or
to this Agreement, and providing the Administrative Agent, for the benefit of
the Lenders, with Collateral for the Obligations.

    "Security Interest" shall mean all Liens in favor of the Administrative
Agent, for the benefit of the Administrative Agent and the Lenders, created
hereunder or under any of the Security Documents to secure the Obligations.

    "Subordinated Indebtedness" shall mean Indebtedness for Money Borrowed of
the Borrower which is subordinated to the Obligations on terms and conditions
acceptable to the Required Lenders and shall include, without limitation, the
Subordinated Notes.

    "Subordinated Notes" shall mean those $125,000,000 (95/8%) Senior
Subordinated Notes due 2008 of the Borrower.

    "Subsidiary" shall mean, as applied to any Person, (a) any corporation of
which more than fifty percent (50%) of the outstanding stock (other than
directors' qualifying shares) having ordinary voting power to elect a majority
of its board of directors, regardless of the existence at the time of a right of
the holders of any class or classes of securities of such corporation to
exercise such voting power by reason of the happening of any contingency, or any
partnership or limited liability company of which more than fifty percent (50%)
of the outstanding partnership or membership interests, is at the time owned
directly or indirectly by such Person, or by one or more Subsidiaries of such
Person, or by such Person and one or more Subsidiaries of such Person, or
(b) any other entity which is directly or indirectly controlled or capable of
being controlled by such Person, or by one or more Subsidiaries of such Person,
or by such Person and one or more Subsidiaries of such Person. Notwithstanding
the foregoing, Subsidiary shall not include Wireless Alliance.

    "Subsidiary Guaranty" shall mean that certain Second Amended and Restated
Master Subsidiary Guaranty dated as of April 3, 2000 in substantially the form
of Exhibit G attached hereto in favor of the Administrative Agent and the
Lenders, given by each Subsidiary of the Borrower, and shall include any similar
agreements executed pursuant to Section 5.14 hereof.

    "Subsidiary Pledge Agreement" shall mean that certain Second Amended and
Restated Master Subsidiary Pledge Agreement dated as of April 3, 2000 in
substantially the form of Exhibit F attached hereto by and between each
Subsidiary of the Borrower having one or more of its own Subsidiaries, on the
one hand, and the Administrative Agent, for itself and on behalf of the Lenders,
on the other hand, and shall include any similar agreements executed pursuant to
Section 5.14 hereof.

    "Subsidiary Security Agreement" shall mean that certain Second Amended and
Restated Master Subsidiary Security Agreement dated as of April 3, 2000 in
substantially the form of Exhibit G attached hereto by and between each of the
Borrower's Subsidiaries, on the one hand, and the Administrative Agent, for
itself and on behalf of the Lenders, on the other hand, and shall include any
similar agreements executed pursuant to Section 5.14 hereof.

15

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    "Swing Line Advance" or "Swing Line Advances" shall mean amounts advanced by
the Swing Line Lender to the Borrower pursuant to Section 2.16 hereof on the
occasion of any borrowing which Swing Line Advance shall be in a principal
amount of at least $500,000 and in an integral multiple of $500,000.

    "Swing Line Commitment" shall mean the obligation of the Swing Line Lender
to advance funds in the aggregate sum of up to $10,000,000.00 to the Borrower
pursuant to the terms hereof.

    "Swing Line Lender" shall mean any Lender agreed to by the Borrower and such
Lender with the consent of the Administrative Agent, such consent not to be
unreasonably withheld, which Lender shall become a party to this Agreement as
the "Swing Line Lender" by assignment or otherwise.

    "Swing Line Loans" shall mean the aggregate principal amount of all Swing
Line Advances.

    "Swing Line Note" shall mean that certain promissory note in the principal
amount of $10,000,000.00 issued by the Borrower to the Swing Line Lender,
substantially in the form of Exhibit U attached hereto, any other Swing Line
Note issued pursuant to this Agreement in respect of the Swing Line Commitment,
and any extensions, modifications, renewals, or replacements of, or amendments
to any of the foregoing.

    "Term Loan A Commitments" shall mean the several obligations of the Lenders
having a Term Loan A Commitment to advance to the Borrower an aggregate amount
of up to $450,000,000 at any one time outstanding, in accordance with their
respective Commitment Ratios for Term Loan A Loans, and as such obligations may
be reduced from time to time in each case, pursuant to the terms hereof; and
"Term Loan A Commitment" shall mean the individual commitment of each such
Lender to advance Term Loan A Loans hereunder.

    "Term Loan A Loans" shall mean the amounts advanced by the Lenders holding a
Term Loan A Commitment to the Borrower as Term Loan A Loans and evidenced by the
Term Loan A Notes.

    "Term Loan A Maturity Date" shall mean April 3, 2008, or as the case may be,
such earlier date as payment of the Obligations shall be due (whether by
acceleration, reduction of the Commitments to zero or otherwise); provided,
however, that if the Subordinated Notes are not repaid or refinanced prior to
the Refinancing Date, the Term Loan A Maturity Date shall accelerate to that
Refinancing Date.

    "Term Loan A Notes" shall mean, collectively, those certain term promissory
notes in the aggregate original principal amount of the Term Loan A Commitments,
and one issued by the Borrower to each of the Lenders having a Term Loan A
Commitment, each substantially in the form of Exhibit J attached hereto, and any
extensions, modifications, renewals or replacements of, or amendments to, any of
the foregoing.

    "Term Loan B Commitments" shall mean the several obligations of the Lenders
having a Term Loan B Commitment to advance to the Borrower an aggregate amount
of up to $237,500,000 at any time outstanding, in accordance with their
respective Commitment Ratios for Term Loan B Loans pursuant to the terms hereof,
and as such obligations may be reduced from time to time pursuant to the terms
hereof; and "Term Loan B Commitment" shall mean the individual commitment of
each such Lender to advance Term Loan B Loans hereunder.

    "Term Loan B Loans" shall mean the amounts advanced by the Lenders holding a
Term Loan B Commitment to the Borrower as Term Loan B Loans and evidenced by the
Term Loan B Notes.

    "Term Loan B Maturity Date" shall mean October 3, 2008, or as the case may
be, such earlier date as payment of the Obligations shall be due (whether by
acceleration, reduction of the Commitments to zero or otherwise).

    "Term Loan B Notes" shall mean, collectively, those certain term promissory
notes in the aggregate original principal amount of Term Loan B Commitment, and
one issued by the Borrower to each of the

16

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Lenders having a Term Loan B Commitment, each substantially in the form of
Exhibit K attached hereto, and any extensions, modifications, renewals or
replacements of, or amendments to, any of the foregoing.

    "Term Loan C Commitments" shall mean the several obligations of the Lenders
having a Term Loan Commitment to advance to the Borrower an aggregate amount of
up to $237,500,000 at any one time outstanding, in accordance with their
respective Commitment Ratios for Term Loan C Loans pursuant to the terms hereof;
and as such obligations may be reduced from time to time pursuant to the terms
hereof; and "Term Loan C Commitment" shall mean the individual commitment of
each such Lender to advance Term Loan C Loans hereunder.

    "Term Loan C Loans" shall mean the amounts advanced by the Lenders holding a
Term Loan C Commitment to the Borrower as Term Loan C Loans and evidenced by the
Term Loan C Notes.

    "Term Loan C Maturity Date" shall mean April 3, 2009, or as the case may be,
such earlier date as payment of the Obligations shall be due (whether by
acceleration, reduction of the Commitments to zero or otherwise).

    "Term Loan C Notes" shall mean, collectively, those certain term promissory
notes in the aggregate original principal amount of the Term Loan C Commitments,
and one issued by the Borrower to each of the Lenders having a Term Loan C
Commitment, each substantially in the form of Exhibit L attached hereto, and any
extensions, modifications, renewals or replacements of, or amendments to, any of
the foregoing.

    "Term Loan Notes" shall mean, collectively, the Term Loan A Notes, the Term
Loan B Notes and the Term Loan C Notes.

    "Term Loans" shall mean, collectively, Term Loan A Loans, Term Loan B Loans
and Term Loan C Loans.

    "Total Debt" shall mean, for the Borrower and its Subsidiaries on a
consolidated basis as of any date, the sum of (without duplication) (i) the
outstanding principal amount of the Loans, (ii) the aggregate amount of
Capitalized Lease Obligations and Indebtedness for Money Borrowed of such
Persons, and (iii) the aggregate amount of all Guarantees of Indebtedness for
Money Borrowed by such Persons.

    "Total Leverage Ratio" shall mean, as of any date, the ratio of (a) the
Total Debt (for purposes hereof, Total Debt shall not include the principal
amount of any Indebtedness for Money Borrowed equal to the amount of any cash
balance maintained by the Borrower in a segregated deposit account or escrow
account which is designated solely for repayments of such Indebtedness for Money
Borrowed) of the Borrower and its Subsidiaries on a consolidated basis on such
date, to (b) Annualized Operating Cash Flow of the Borrower and its Subsidiaries
on a consolidated basis as of the calendar quarter end being tested or the most
recently completed calendar quarter for which financial statements are required
to have been delivered pursuant to Section 6.1 or 6.2 hereof, as the case may
be.

    "Triton" shall mean Triton Cellular Partners, L.P.

    "Triton Acquisition" shall mean the Acquisition by the Borrower of
substantially all of the assets of Triton Cellular Partners, L.P.

    "Triton Asset Purchase Agreement" shall mean that certain Asset Purchase
Agreement dated as of November 6, 1999 among Triton Communications L.L.C., the
Other Triton Parties and the Borrower.

    "Triton Kansas Properties" shall mean all assets acquired in Kansas RSA's 1,
2, 6, 7, 11, 12 and 13.

17

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    "Unreinvested Net Proceeds" shall mean the aggregate Net Proceeds from the
sale, transfer or other disposition of an asset in the ordinary course for the
Borrower or any of its Subsidiaries with respect to which (a) the Borrower has
notified the Administrative Agent in writing that the Borrower intends to use
any or all of such Net Proceeds to acquire or purchase an asset as a substitute
or replacement of the asset disposed of within twelve (12) months of the date of
the sale or disposition of the assets (so long as the Borrower is in compliance
with all terms and conditions of this Agreement) and (b) the Borrower uses or
irrevocably commits to be used within such twelve (12) month period; provided,
however, that once applied to reduce the Commitments or repay Loans hereunder,
such Unreinvested Net Proceeds shall cease to be Unreinvested Net Proceeds.

    "Wireless Alliance" shall mean Wireless Alliance, L.L.C., a Minnesota
limited liability company.

    Each definition of an agreement in this Article 1 shall include such
agreement as modified, amended or supplemented from time to time in accordance
herewith.

ARTICLE 2

Loans

    Section 2.1  The Loans.  

    (a)  Revolving Loan Commitment.  The Lenders having Revolving Loan
Commitments agree, severally, in accordance with their respective Commitment
Ratios for Revolving Loans, and not jointly, upon the terms and subject to the
conditions of this Agreement, to lend and relend to the Borrower from time to
time, amounts which do not exceed, in the aggregate, at any one time outstanding
the Available Revolving Loan Commitment as in effect from time to time. The
Borrower hereby acknowledges that all "Obligations" in respect of "Revolving
Loans" outstanding on the Agreement Date under the "Revolving Loan Commitments"
(as such terms as defined in the Prior Loan Agreement) shall be deemed to have
been made to the Borrower as Advances under the Revolving Loan Commitments
hereunder and shall constitute a portion of the Obligations. Subject to the
terms and conditions hereof, Advances under the Revolving Loan Commitments may
be repaid and reborrowed from time to time on a revolving basis. In no case will
the Lenders be required to fund a Request for Advance under their Revolving Loan
Commitments if such funding would increase the aggregate amount of all Revolving
Loans outstanding to an amount in excess of the Revolving Loan Commitments or
the amount of such requested Advance exceeds the Available Revolving Loan
Commitment before giving effect to such Advance.

    (b)  Term Loan A Loans.  The Lenders who issued a "Term Loan A Commitment"
under, and as defined in, the Prior Loan Agreement have previously lent to the
Borrower the amount in the aggregate of $450,000,000.00 of which $450,000,000.00
is outstanding on the Agreement Date. The Borrower hereby acknowledges that all
"Obligations" in respect of the "Term Loan A Loans" outstanding under the "Term
Loan A Commitment" (as such terms are defined in the Prior Agreement) shall be
deemed to have been made to the Borrower as Advances under the Term Loan A
Commitments hereunder and shall constitute a portion of the Obligations. Subject
to the terms and conditions hereof, the Borrower may from time to time
(i) Convert a Base Rate Advance into a LIBOR Advance or a LIBOR Advance into a
Base Rate Advance or (ii) Continue a LIBOR Advance as a LIBOR Advance; provided,
however, that there shall be no increase in the principal amount of the Term
Loan A Loans outstanding after the Agreement Date.

    (c)  Term Loan B Loans.  The Lenders who issued a "Term Loan B Commitment"
under, and as defined in, the Prior Loan Agreement have previously lent to the
Borrower the amount in the aggregate of $237,500,000.00 of which $237,500,000.00
is outstanding on the Agreement Date. The Borrower hereby acknowledges that all
"Obligations" in respect of the "Term Loan B Loans" outstanding under the "Term
Loan B Commitment" (as such terms are defined in the Prior

18

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Agreement) shall be deemed to have been made to the Borrower as Advances under
the Term Loan B Commitments hereunder and shall constitute a portion of the
Obligations. Subject to the terms and conditions hereof, the Borrower may from
time to time (i) Convert a Base Rate Advance into a LIBOR Advance or a LIBOR
Advance into a Base Rate Advance or (ii) Continue a LIBOR Advance as a LIBOR
Advance; provided, however, that there shall be no increase in the principal
amount of the Term Loan B Loans outstanding after the Agreement Date.

    (d)  Term Loan C Loans.  The Lenders who issued a "Term Loan C Commitment"
under, and as defined in, the Prior Loan Agreement have previously lent to the
Borrower the amount in the aggregate of $237,500,000.00 of which $237,500,000.00
is outstanding on the Agreement Date. The Borrower hereby acknowledges that all
"Obligations" in respect of the "Term Loan C Loans" outstanding under the "Term
Loan C Commitment" (as such terms are defined in the Prior Agreement) shall be
deemed to have been made to the Borrower as Advances under the Term Loan C
Commitments hereunder and shall constitute a portion of the Obligations. Subject
to the terms and conditions hereof, the Borrower may from time to time
(i) Convert a Base Rate Advance into a LIBOR Advance or a LIBOR Advance into a
Base Rate Advance or (ii) Continue a LIBOR Advance as a LIBOR Advance; provided,
however, that there shall be no increase in the principal amount of the Term
Loan C Loans outstanding after the Agreement Date.

    (e)  Swing Line Loans by Swing Line Lender.  Subject to the terms and
conditions of this Agreement, the Swing Line Lender agrees upon the terms and
subject to the conditions of this Agreement to lend and relend to the Borrower,
prior to the Revolving Loan Maturity Date, Swing Line Advances which in the
aggregate at any one time outstanding do not exceed the Swing Line Commitment.
In no case will the Swing Line Lender be required to fund a Request for Swing
Line Advance under its Swing Line Commitment if such funding would increase the
aggregate amount of all Swing Line Loans outstanding to an amount in excess of
the Swing Line Commitment or the amount of such requested Swing Line Advance
exceeds the Available Swing Line Commitment before giving effect to such Swing
Line Advance.

    Section 2.2  Manner of Borrowing and Disbursement.  

    (a)  Choice of Interest Rate, Etc.  Any Advance (excluding Swing Line
Advances) shall, at the option of the Borrower, be made as a Base Rate Advance
or a LIBOR Advance; provided, however, that at such time as there shall have
occurred and be continuing a Default hereunder, the Borrower shall not have the
right to receive or Continue a LIBOR Advance or to Convert a Base Rate Advance
to a LIBOR Advance. Any notice given to the Administrative Agent in connection
with a requested Advance hereunder shall be given to the Administrative Agent
prior to 11:00 a.m. (New York, New York time) in order for such Business Day to
count toward the minimum number of Business Days required.

    (b)  Base Rate Advances.  

     (i) Advances. The Borrower shall give the Administrative Agent in the case
of Base Rate Advances (excluding Swing Line Advances) at least one (1) Business
Day's irrevocable prior written notice in the form of a Request for Advance, or
telephonic notice followed immediately by a Request for Advance; provided,
however, that the Borrower's failure to confirm any telephonic notice with a
Request for Advance shall not invalidate any notice so given if acted upon by
the Administrative Agent.

    (ii) Conversions. The Borrower may, without regard to the applicable Payment
Date and upon at least three (3) Business Days' irrevocable prior telephonic
notice followed by a Request for Advance, Convert all or a portion of the
principal of a Base Rate Advance (excluding Swing Line Advances) to a LIBOR
Advance. On the date indicated by the Borrower, such Base Rate Advance

19

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shall be so Converted. The failure to give timely notice hereunder with respect
to the Payment Date of any Base Rate Advance shall be considered a request for a
Base Rate Advance.

    (c)  LIBOR Advances.  

     (i) Advances. Upon request, the Administrative Agent, whose determination
shall be conclusive, shall determine the available LIBOR Bases and shall notify
the Borrower of such LIBOR Bases. The Borrower shall give the Administrative
Agent in the case of LIBOR Advances (excluding Swing Line Advances) at least
three (3) Business Days' irrevocable prior written notice in the form of a
Request for Advance, or telephonic notice followed immediately by a Request for
Advance; provided, however, that the Borrower's failure to confirm any
telephonic notice with a Request for Advance shall not invalidate any notice so
given if acted upon by the Administrative Agent.

    (ii) Conversions and Continuations. At least three (3) Business Days prior
to the Payment Date for each LIBOR Advance (excluding Swing Line Advances), the
Borrower shall give the Administrative Agent telephonic notice followed by
written notice specifying whether all or a portion of such LIBOR Advance (A) is
to be Continued in whole or in part as one or more LIBOR Advances, (B) is to be
Converted in whole or in part to a Base Rate Advance, or (C) is to be repaid.
The failure to give such notice shall preclude the Borrower from Continuing such
Advance as a LIBOR Advance on its Payment Date and shall be considered a request
to Convert such Advance to a Base Rate Advance. Upon such Payment Date such
LIBOR Advance will, subject to the provisions hereof, be so Continued, Converted
or repaid, as applicable.

    (d)  Notification of Lenders.  Upon receipt of a Request for Advance, or a
notice from the Borrower with respect to any outstanding Advance (excluding
Swing Line Advances and including a notice of Conversion or Continuation) prior
to the Payment Date for such Advance, the Administrative Agent shall promptly
but no later than the close of business on the day of such notice notify each
Lender (or, in the case of an Advance under the Incremental Facility Commitment,
each Lender having an Incremental Facility Commitment) by telephone or telecopy
of the contents thereof and the amount of such Lender's portion of the Advance.
Each Lender (or, in the case of an Advance under the Incremental Facility
Commitment, each Lender having an Incremental Facility Commitment) shall, not
later than 1:00 p.m. (New York, New York time) on the date of borrowing
specified in such notice, make available to the Administrative Agent at the
Administrative Agent's Office, or at such account as the Administrative Agent
shall designate, the amount of its portion of any Advance which represents an
additional borrowing hereunder in immediately available funds.

    (e)  Disbursement.  

     (i) Prior to 2:00 p.m. (New York, New York time) on the date of an Advance
(excluding Swing Line Advances) hereunder, the Administrative Agent shall,
subject to the satisfaction of the conditions set forth in Article 3 hereof,
disburse the amounts made available to the Administrative Agent by the Lenders
in like funds by (A) transferring the amounts so made available by wire transfer
pursuant to the Borrower's instructions, or (B) in the absence of such
instructions, crediting the amounts so made available to the account of the
Borrower maintained with the Administrative Agent.

    (ii) Unless the Administrative Agent shall have received notice from a
Lender prior to 12:00 noon (New York, New York time) on the date of any Advance
(excluding Swing Line Advances) that such Lender will not make available to the
Administrative Agent such Lender's ratable portion of such Advance, the
Administrative Agent may assume that such Lender has made or will make such
portion available to the Administrative Agent on the date of such Advance and
the Administrative Agent may in its sole discretion and in reliance upon such
assumption, make available to the Borrower on such date a corresponding amount.
If and to the extent the Lender

20

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does not make such ratable portion available to the Administrative Agent, such
Lender agrees to repay to the Administrative Agent on demand such corresponding
amount together with interest thereon, for each day from the date such amount is
made available to the Borrower until the date such amount is repaid to the
Administrative Agent, at the Federal Funds Rate.

    (iii) If such Lender shall repay to the Administrative Agent such
corresponding amount, such amount so repaid shall constitute such Lender's
portion of the applicable Advance for purposes of this Agreement. If such Lender
does not repay such corresponding amount immediately upon the Administrative
Agent's demand therefor, the Administrative Agent shall notify the Borrower and
the Borrower shall immediately pay such corresponding amount to the
Administrative Agent, with interest at the Federal Funds Rate. The failure of
any Lender to fund its portion of any Advance shall not relieve any other Lender
of its obligation, if any, hereunder to fund its respective portion of the
Advance on the date of such borrowing, but no Lender shall be responsible for
any such failure of any other Lender.

    (iv) In the event that, at any time when the Borrower is not in Default and
has otherwise satisfied each of the conditions in Section 3.2 hereof, a Lender
for any reason fails or refuses to fund its portion of an Advance (excluding
Swing Line Advances) and such failure shall continue for a period in excess of
thirty (30) days, then, until such time as such Lender has funded its portion of
such Advance (which late funding shall not absolve such Lender from any
liability it may have to the Borrower), or all other Lenders have received
payment in full from the Borrower (whether by repayment or prepayment) or
otherwise of the principal and interest due in respect of such Advance, such
non-funding Lender shall not have the right (A) to vote regarding any issue on
which voting is required or advisable under this Agreement or any other Loan
Document, and such Lender's portion of the Loans shall not be counted as
outstanding for purposes of determining "Required Lenders" hereunder, and (B) to
receive payments of principal, interest or fees from the Borrower, the
Administrative Agent or the other Lenders in respect of its portion of the
Loans.

    Section 2.3  Interest.  

    (a)  On Base Rate Advances.  Interest on each Base Rate Advance shall be
computed on the basis of a year of 365/366 days (or, to the extent based on the
Federal Funds Rate, 360 days) for the actual number of days elapsed and shall be
payable at the Base Rate Basis for such Advance, in arrears on the applicable
Payment Date. Interest on Base Rate Advances then outstanding shall also be due
and payable on the Revolving Loan Maturity Date, Term Loan A Maturity Date, Term
Loan B Maturity Date, Term Loan C Maturity Date and Incremental Facility
Maturity Date, as applicable.

    (b)  On LIBOR Advances.  Interest on each LIBOR Advance shall be computed on
the basis of a 360-day year for the actual number of days elapsed and shall be
payable at the LIBOR Basis for such Advance, in arrears on the applicable
Payment Date, and, in addition, if the Interest Period for a LIBOR Advance
exceeds three (3) months, interest on such LIBOR Advance shall also be due and
payable in arrears on every three-month anniversary of the beginning of such
Interest Period. Interest on LIBOR Advances then outstanding shall also be due
and payable on the Revolving Loan Maturity Date, Term Loan A Maturity Date, Term
Loan B Maturity Date, Term Loan C Maturity Date and Incremental Facility
Maturity Date, as applicable.

    (c)  Interest if No Notice of Selection of Interest Rate Basis.  If the
Borrower fails to give the Administrative Agent timely notice of its selection
of a LIBOR Basis, or if for any reason a determination of a LIBOR Basis for any
Advance is not timely concluded, the Base Rate Basis shall apply to such
Advance.

    (d)  Interest Upon Default.  Immediately upon the occurrence of an Event of
Default hereunder, the outstanding principal balance of the Loans shall bear
interest at the Default Rate. Such interest

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shall be payable on demand by the Required Lenders and shall accrue until the
earlier of (i) waiver or cure of the applicable Event of Default, (ii) agreement
by the Required Lenders (or, if applicable to the underlying Event of Default,
the Lenders) to rescind the charging of interest at the Default Rate, or
(iii) payment in full of the Obligations.

    (e)  LIBOR Contracts.  At no time may the number of outstanding LIBOR
Advances together with any outstanding Base Rate Advances exceed eight (8). For
the purposes of this Section 2.3(e), all outstanding Base Rate Advances shall be
deemed to be a single Base Rate Advance.

    (f)  Applicable Margin.  

     (i) Revolving Loans and Term Loan A Loans. With respect to any Advance
under the Revolving Loan Commitments or the Term Loan A Commitments, the
Applicable Margin shall be as set forth in a certificate of the chief financial
officer of the Borrower delivered to the Administrative Agent based upon the
Total Leverage Ratio for the most recent fiscal quarter end for which financial
statements are furnished by the Borrower to the Administrative Agent and each
Lender as follows:

Total Leverage Ratio

--------------------------------------------------------------------------------

  Base Rate Advance
Applicable Margin

--------------------------------------------------------------------------------

  LIBOR Advance
Applicable Margin

--------------------------------------------------------------------------------

  A.   Greater than 7.50:1.00   1.750 % 2.750 %  
B.  
   
Greater than 7.00:1.00, but less
than or equal to 7.50:1.00  
   
1.625  
%  
2.625  
%  
C.  
   
Greater than 6.50:1.00, but less
than or equal to 7.00:1.00  
   
1.500  
%  
2.500  
%  
D.  
   
Greater than 6.00:1.00, but less
than or equal to 6.50:1.00  
   
1.250  
%  
2.250  
%  
E.  
   
Greater than 5.00:1.00, but less
than or equal to 6.00:1.00  
   
1.000  
%  
2.000  
%  
F.  
   
Greater than 4.00:1.00, but less
than or equal to 5.00:1.00  
   
0.750  
%  
1.750  
%  
G.  
   
Less than or equal to 4.00:1.00  
   
0.500  
%  
1.500  
%  
   
   
   
   
   
   
   
 

    (ii) Term Loan B Loans. With respect to any Advance under the Term Loan B
Commitments, the Applicable Margin shall be as set forth in a certificate of the
chief financial officer of the Borrower delivered to the Administrative Agent
based upon the Total Leverage Ratio for the most recent fiscal quarter end for
which financial statements are furnished by the Borrower to the Administrative
Agent and each Lender as follows:

Total Leverage Ratio

--------------------------------------------------------------------------------

  Base Rate Advance
Applicable Margin

--------------------------------------------------------------------------------

  LIBOR Advance
Applicable Margin

--------------------------------------------------------------------------------

  A.  Greater than 7.00:1.00   2.000 % 3.000 %  
B.  Less than or equal to 7.00:1.00  
   
1.750  
%  
2.750  
%

    (iii) Term Loan C Loans. With respect to any Advance under the Term Loan C
Commitments, the Applicable Margin shall be as set forth in a certificate of the
chief financial officer of the Borrower delivered to the Administrative Agent
based upon the Total Leverage Ratio for the most

22

--------------------------------------------------------------------------------

recent fiscal quarter end for which financial statements are furnished by the
Borrower to the Administrative Agent and each Lender as follows:

Total Leverage Ratio

--------------------------------------------------------------------------------

  Base Rate Advance
Applicable Margin

--------------------------------------------------------------------------------

  LIBOR Advance
Applicable Margin

--------------------------------------------------------------------------------

  A.  Greater than 7.00:1.00   2.250 % 3.250 %  
B.  Less than or equal to 7.00:1.00  
   
2.000  
%  
3.000  
%

    (iv) The Applicable Margin on the Agreement Date shall be based on the
Annualized Operating Cash Flow on the Agreement Date (with appropriate
adjustment for any Acquisitions or dispositions as provided in the definition of
"Operating Cash Flow") for the Borrower and the Total Debt as of the Agreement
Date.

    (v) Subject to the last sentence hereof, with respect to Section 2.3(f)(i),
(ii) and (iii), changes to the Applicable Margin shall be effective as of the
second (2nd) Business Day after the day on which the financial statements are
delivered to the Administrative Agent and the Lenders pursuant to Section 6.1 or
6.2 hereof, as the case may be. Upon the occurrence and during the continuance
of an Event of Default, the Applicable Margins shall not be subject to downward
adjustment and shall automatically revert to the Applicable Margins set forth
in, (A) with respect to Section 2.3(f)(i), part A of the table in
Section 2.3(f)(i) above, (B) with respect to Section 2.3(f)(ii), part (A) of
Section 2.3(f)(ii) above and (C) with respect to Section 2.3(f)(iii), part A of
Section 2.3(f)(iii) above, in each case, until such time as such Event of
Default is cured or waived.

    Section 2.4  Commitment Fees.  Commencing on and at all times after the
Agreement Date, the Borrower agrees to pay to the Administrative Agent for the
account of each of the Lenders (except for the Swing Line Lender if the Swing
Line Lender is a Lender having a Revolving Loan Commitment hereunder only to the
extent that such Swing Line Lender has Swing Line Loans outstanding) having
Revolving Loan Commitments in accordance with their respective Commitment Ratios
for Revolving Loans, a commitment fee on the aggregate unborrowed balance of the
Revolving Loan Commitments (excluding Swing Line Loans) for each day from the
Agreement Date until the Revolving Loan Maturity Date, (a) at all times that the
Total Leverage Ratio is greater than 6.50 to 1.00, at a rate of one-half of one
percent (0.500%) per annum and (b) at all times that Total Leverage Ratio is
equal to or less than 6.50 to 1.00, at a rate of three-eighths of one percent
(0.375%) per annum. Such commitment fee shall be computed on the basis of a year
of 365/366 days for the actual number of days elapsed, shall be payable
quarterly in arrears on the last day of each calendar quarter, and shall be
fully earned when due and non-refundable when paid. A final payment of any
commitment fee then payable shall also be due and payable on the Revolving Loan
Maturity Date.

    Section 2.5  Mandatory Revolving Loan Commitment Reductions.  

    (a)  Scheduled Reductions of Revolving Loan Commitments.  Commencing on
June 30, 2003, and on the last day of each calendar quarter ending during the
periods set forth below, the Revolving Loan Commitments as of June 29, 2003
shall be automatically and permanently reduced by the percentage

23

--------------------------------------------------------------------------------

amount set forth below (which reductions are in addition to those set forth in
Sections 2.5(b) and (c) and 2.6 hereof):

Dates of Revolving Loan Commitment Reduction

--------------------------------------------------------------------------------

  Quarterly Percentage for
Reduction of Revolving Loan
Commitments as of June 29,
2003

--------------------------------------------------------------------------------

  June 30, 2003, September 30, 2003,
December 31, 2003 and March 31, 2004   3.125 %  
June 30, 2004, September 30, 2004,
December 31, 2004 and March 31, 2005  
   
4.375  
%  
June 30, 2005, September 30, 2005,
December 31, 2005 and March 31, 2006  
   
5.000  
%  
June 30, 2006, September 30, 2006,
December 31, 2006 and March 31, 2007  
   
6.250  
%  
June 30, 2007, September 30, 2007,
December 31, 2007 and March 31, 2008  
   
6.250  
%  
   
   
   
 

    (b)  Reduction From Excess Cash Flow.  On or prior to March 31, 2004, and on
or prior to each March 31st thereafter during the term of this Agreement, the
Revolving Loan Commitments shall be automatically and permanently reduced by an
amount equal to the repayment of Revolving Loans (and, if applicable, the
Incremental Facility Loans) required under Section 2.7(b)(v) hereof; provided,
however, that if there are no Loans then outstanding or if fifty percent (50%)
of Excess Cash Flow for such period exceeds the Loans then outstanding, the
Revolving Loan Commitments (and, if applicable, the Incremental Facility
Commitments) shall be reduced by an aggregate amount equal to fifty percent
(50%) of Excess Cash Flow for such period, or the excess of fifty percent of the
Excess Cash Flow for such period over the Loans, which reduction shall be in
addition to the reduction set forth in the first part of this Section 2.5(b), as
applicable, regardless of any repayment of the Revolving Loans. Reductions under
this Section 2.5(b) to the Revolving Loan Commitments shall be applied to the
reductions set forth in Section 2.5(a) hereof (and, if applicable, to the
Incremental Facility Commitments shall be applied to the reductions set forth in
the Notice of Incremental Facility Commitments) in inverse order of the
reductions set forth therein.

    (c)  Reductions From Permitted Asset Sales.  At any time after the aggregate
Unreinvested Net Proceeds from all sales, transfers or other dispositions of
assets of the Borrowers and their Subsidiaries, or from any insurance or
condemnation proceeding in respect of such assets, after the Agreement Date
exceeds $15,000,000, the Revolving Loan Commitments and, if applicable, the
Incremental Facility Commitments shall be automatically and permanently reduced
by an amount equal to the repayment of Revolving Loans and, if applicable, the
Incremental Facility Loans required under Section 2.7(b)(vi) hereof; provided,
however, that if there are no Loans then outstanding, or if the Unreinvested Net
Proceeds exceeds the Loans then outstanding, the Revolving Loan Commitments and,
if applicable, the Incremental Facility Commitments shall be reduced on a pro
rata basis by an aggregate amount equal to such Unreinvested Net Proceeds, or
the excess of such Unreinvested Net Proceeds over the Loans (which reduction
shall be in addition to the reduction set forth in the first part of this
Section 2.5(c)), as applicable, regardless of any repayment of the Revolving
Loans (or, if applicable, the Incremental Facility Loans); provided further,
however, that, prior to the occurrence or continuance of a Default of Event or
Default, there shall be no reduction of the Revolving Loan Commitments hereunder
with respect to a disposition of assets (i) the Net Proceeds of which do not
exceed (A) $5,000,000 for any single transaction (or series of related
transactions), and (B) $15,000,000 in the aggregate during the term hereof,
(ii) in the event that Borrower delivers to the Administrative

24

--------------------------------------------------------------------------------

Agent evidence that the Net Proceeds of such disposition have been used by the
Borrower or its Subsidiaries for any sale/leaseback or similar arrangement
involving the cellular towers owned by the Borrower or its Subsidiaries,
(iii) to the extent that the Total Leverage Ratio is less than 6.0 to 1.0
(before and after giving effect to the application to such proceeds), and the
after-tax Net Proceeds of which are used to retire in whole or in part the
Junior Preferred Stock or (iv) the Net Proceeds of which were realized from the
sale of the Triton Kansas Properties in excess of 7.00 times EBITDA of such
properties, provided that such sale is consummated within twelve (12) months of
the acquisition of the Triton Kansas Properties. Reductions under this
Section 2.5(c) to the Revolving Loan Commitments shall be applied to the
reductions set forth in Section 2.5(a) hereof (and, if applicable, to the
Incremental Facility Commitments shall be applied to the reductions set forth in
the Notice of Incremental Facility Commitments) in inverse order of the
reductions set forth therein.

    Section 2.6  Voluntary Commitment Reductions.  The Borrower shall have the
right, at any time and from time to time after the Agreement Date and prior to
the Revolving Loan Maturity Date, Term Loan A Maturity Date, Term Loan B
Maturity Date, Term Loan C Maturity Date and Incremental Facility Maturity Date,
as applicable, upon at least three (3) Business Days' prior written notice to
the Administrative Agent, without premium or penalty, to cancel or reduce
permanently all or a portion of the Revolving Loan Commitments (or the
Incremental Facility Commitments) on the basis of the respective Revolving Loan
Commitment Ratios (or the Incremental Facility Commitment Ratios) of the Lenders
applicable to the Revolving Loan Commitments (or the Incremental Facility
Commitments); provided, however, that the Borrower shall reimburse the Lenders
and the Administrative Agent, on demand by the applicable Lender or the
Administrative Agent, for any loss or out-of-pocket expense incurred by any
Lender or the Administrative Agent in connection with such prepayment, as set
forth in Section 2.10 hereof; provided further, however, that Borrower's failure
to confirm any telephonic notice with a written notice, shall not invalidate any
notice so given if acted upon by the Administrative Agent; provided further,
however, that any such partial reduction shall be made in an amount not less
than $1,000,000 and in integral multiples of not less than $1,000,000. As of the
date of cancellation or reduction set forth in such notice, the Revolving Loan
Commitments (or the Incremental Facility Commitments) shall be permanently
reduced to the amount stated in the Borrower's notice for all purposes herein,
and the Borrower shall pay to the Administrative Agent for the Lenders the
amount necessary to reduce the principal amount of the Revolving Loans and the
Swing Line Loans (or Incremental Facility Loans) then outstanding under the
Revolving Loan Commitments (or the Incremental Facility Commitments) to not more
than the amount of the Revolving Loan Commitments (or the Incremental Facility
Commitments) as so reduced, together with accrued interest on the amount so
prepaid and commitment fees accrued through the date of the reduction with
respect to the amount reduced. Reductions in the Revolving Loan Commitments
pursuant to this Section shall be applied pro rata to the then remaining
reductions set forth in Section 2.5(a) hereof in inverse order of the reductions
set forth therein.

25

--------------------------------------------------------------------------------

    Section 2.7  Prepayments and Repayments.  

    (a)  Prepayment.  The principal amount of any Base Rate Advance may be
prepaid in full or ratably in part at any time, without penalty and without
regard to the Payment Date for such Advance. LIBOR Advances may be prepaid prior
to the applicable Payment Date, upon three (3) Business Days' prior written
notice, or telephonic notice followed immediately by written notice, to the
Administrative Agent; provided, however, that the Borrower shall reimburse the
Lenders and the Administrative Agent, on demand by the applicable Lender or the
Administrative Agent, for any loss or out-of-pocket expense incurred by any
Lender or the Administrative Agent in connection with such prepayment, as set
forth in Section 2.10 hereof; provided further, however, that Borrower's failure
to confirm any telephonic notice with a written notice, shall not invalidate any
notice so given if acted upon by the Administrative Agent. Any prepayment
hereunder shall be in amounts of not less than $500,000 and in integral
multiples of $100,000. Amounts prepaid pursuant to this Section 2.7 may be
reborrowed, subject to the terms and conditions hereof. Amounts prepaid shall be
paid together with accrued interest on the amount so prepaid and commitment fees
accrued through the date of the reduction with respect to the amount reduced.
Amounts prepaid pursuant to this Section 2.7(a) shall be applied to Term Loan A
Loans, Term Loan B Loans, Term Loan C Loans or Revolving Loans as the Borrower
may direct; provided, that, if the Borrower shall direct amounts prepaid
pursuant to this Section 2.7(a) to be applied to Term Loan A Loans, Term Loan B
Loans or Term Loan C Loans, such amount shall be applied to the scheduled
payments for such Loans in Section 2.7(b) hereof in inverse order of maturity.

    (b)  Repayments.  

    (i)  Scheduled Repayments of the Term Loan A Loans.  Commencing June 30,
2003, the principal balance of the Term Loan A Loans outstanding on June 29,
2003 shall be repaid in consecutive quarterly installments on the last day of
each calendar quarter ending during the periods set forth below until paid in
full in such amounts as follows:

Repayment Dates

--------------------------------------------------------------------------------

  Percentage of Principal
of Term Loan A Loans Outstanding
on June 29, 2003 Due on Last
Day of Each Quarter

--------------------------------------------------------------------------------

  June 30, 2003, September 30, 2003,
December 31, 2003 and March 31, 2004   3.125 %  
June 30, 2004, September 30, 2004,
December 31, 2004 and March 31, 2005  
   
4.375  
%  
June 30, 2005, September 30, 2005,
December 31, 2005 and March 31, 2006  
   
5.000  
%  
June 30, 2006, September 30, 2006,
December 31, 2006 and March 31, 2007  
   
6.250  
%  
June 30, 2007, September 30, 2007,
December 31, 2007 and March 31, 2008  
   
6.250  
%  
   
   
   
 

    (ii)  Scheduled Repayments of Term Loan B Loans.  Commencing June 30, 2003,
the principal balance of the Term Loan B Loans outstanding on June 29, 2003
shall be repaid in consecutive

26

--------------------------------------------------------------------------------

quarterly installments on the last day of each calendar quarter ending during
the periods set forth below until paid in full in such amounts as follows:

Repayment Dates

--------------------------------------------------------------------------------

  Percentage of Principal
of Term Loan B Loans
Outstanding on June 29, 2003
Due on Last Day of
Each Quarter

--------------------------------------------------------------------------------

  June 30, 2003, September 30, 2003,
December 31, 2003 and March 31, 2004   0.250 %  
June 30, 2004, September 30, 2004,
December 31, 2004 and March 31, 2005  
   
0.250  
%  
June 30, 2005, September 30, 2005,
December 31, 2005 and March 31, 2006  
   
0.250  
%  
June 30, 2006, September 30, 2006,
December 31, 2006 and March 31, 2007  
   
0.250  
%  
June 30, 2007, September 30, 2007,
December 31, 2007 and March 31, 2008  
   
0.250  
%  
June 30, 2008 and September 30, 2008  
   
47.50  
%

    (iii)  Scheduled Repayments of Term Loan C Loans.  Commencing June 30, 2003,
the principal balance of the Term Loan C Loans outstanding on June 29, 2003
shall be repaid in consecutive quarterly installments on the last day of each
calendar quarter ending during the periods set forth below until paid in full in
such amounts as follows:

Repayment Dates

--------------------------------------------------------------------------------

  Percentage of Principal
of Term Loan C Loans
Outstanding on June 29, 2003
Due on Last Day of
Each Quarter

--------------------------------------------------------------------------------

  June 30, 2003, September 30, 2003
December 31, 2003 and March 31, 2004   0.250 %  
June 30, 2004, September 30, 2004
December 31, 2004 and March 31, 2005  
   
0.250  
%  
June 30, 2005, September 30, 2005
December 31, 2005 and March 31, 2006  
   
0.250  
%  
June 30, 2006, September 30, 2006
December 31, 2006 and March 31, 2007  
   
0.250  
%  
June 30, 2007, September 30, 2007
December 31, 2007 and March 30, 2008  
   
0.250  
%  
June 30, 2008, September 30, 2008
December 31, 2008 and March 31, 2009  
   
23.75  
%

    (iv)  Loans in Excess of Revolving Loan Commitments (and/or Incremental
Facility Commitments).  If, at any time, the amount of the Revolving Loans (or
the Incremental Facility Loans) then outstanding shall exceed the Revolving Loan
Commitment (or the Incremental Facility Commitment), the Borrower shall, on such
date and subject to Sections 2.10 and 2.11 hereof, make

27

--------------------------------------------------------------------------------

a repayment of the principal amount of the Revolving Loans (or the Incremental
Facility Loans) in an amount equal to such excess, together with any accrued
interest and fees with respect thereto.

    (v)  Excess Cash Flow.  On March 31, 2004, and on each March 31st
thereafter, the Borrower shall make a repayment of the Loans then outstanding in
an amount equal to fifty percent (50%) of the Borrower's Excess Cash Flow for
the immediately preceding calendar year. Subject to Section 2.7(b)(xii) hereof,
the amount of the Excess Cash Flow required to be repaid under this
Section 2.7(b)(v) shall be applied first to the Term Loans then outstanding (on
a pro rata basis for all Term Loans) in inverse order of maturity for each Term
Loan, second to the Revolving Loans and then, if applicable, to the Incremental
Facility Loans. Accrued interest on the principal amount of the Loans being
prepaid pursuant to this Section 2.7(b)(iii) to the date of such prepayment will
be paid by the Borrower concurrently with such principal prepayment.

    (vi)  Asset Sales.  On the twelve (12) calendar month anniversary of the
date of any disposition or sale of any assets by the Borrower or any of its
Subsidiaries in accordance with Section 7.4 hereof, the Borrower shall make a
repayment of the Loans then outstanding in an amount equal to such Net Proceeds;
provided, however, that prior to the occurrence or continuance of a Default of
Event or Default, the Borrower shall not be required to make a repayment
hereunder with respect to a sale of assets (i) in the ordinary course of the
Borrower's or its Subsidiaries' businesses, (ii) the Net Proceeds of which have
been used by the Borrower or its Subsidiaries to acquire or purchase an asset or
assets within twelve (12) months of the date of such asset disposition so long
as the Borrower is in compliance with all terms and conditions of this
Agreement, (iii) the Net Proceeds of which do not exceed (A) $5,000,000 for any
single transaction (or series of related transactions), and (B) $15,000,000 in
the aggregate during the term hereof, (iv) in the event that Borrower delivers
to the Administrative Agent evidence that the Net Proceeds of such disposition
have been used by the Borrower or its Subsidiaries for any sale/leaseback or
similar arrangement involving the Borrower's towers, (v) to the extent that the
Total Leverage Ratio is less than 6.0 to 1.0 (before and after giving effect to
the application of such proceeds), and the after-tax Net Proceeds of which are
used to retire in whole or in part the Junior Preferred Stock or (vi) the Net
Proceeds of which were realized from the sale of the to-be-acquired Triton
Kansas Properties in excess of 7.00 to 1.00 EBITDA, provided that such sale is
consummated within twelve (12) months of the acquisition of such properties.
Subject to Section 2.7(b)(xii) hereof, the amount of the Net Proceeds required
to be repaid under this Section 2.7(b)(vi) shall be applied to the Term Loans
then outstanding (on a pro rata basis for all Term Loans) in inverse order of
maturity for each Term Loan, second to the Revolving Loans and then, if
applicable, to the Incremental Facility Loans. Accrued interest on the principal
amount of the Loans being prepaid pursuant to this Section 2.7(b)(iv) to the
date of such prepayment will be paid by the Borrower concurrently with such
principal prepayment.

    (vii)  Revolving Loan Maturity Date.  In addition to the foregoing, a final
payment of all Revolving Loans and Swing Line Loans, together with accrued
interest and fees with respect thereto, shall be due and payable on the
Revolving Loan Maturity Date.

    (viii)  Term Loan A Maturity Date.  In addition to the foregoing, a final
payment of the Term Loan A Loans, together with accrued interest and fees with
respect thereto, shall be due and payable on the Term Loan A Maturity Date.

    (ix)  Term Loan B Maturity Date.  In addition to the foregoing, a final
payment of Term Loan B Loans, together with accrued interest and fees with
respect thereto, shall be due and payable on the Term Loan B Maturity Date.

    (x)  Term Loan C Maturity Date.  In addition to the foregoing, a final
payment of Term Loan C Loans, together with accrued interest and fees with
respect thereto and all other Obligations

28

--------------------------------------------------------------------------------

then outstanding, other than the Incremental Facility Loans, if any, shall be
due and payable on the Term Loan C Maturity Date.

    (xi)  Incremental Facility Maturity Date.  If applicable, in addition to the
foregoing, a final payment of the Incremental Facility Loans, together with
accrued interest and fees with respect thereto, shall be due and payable on the
Incremental Facility Maturity Date.

    (xii)  Prepayments upon Default or Event of Default.  After the occurrence
of and during the continuation of any Default or an Event of Default, all
amounts received from the Borrower under Sections 2.7(b)(v) and (vi) hereunder
shall be applied as set forth in Section 8.3 hereunder.

    Section 2.8  Notes; Loan Accounts.  

    (a) The Loans shall be repayable in accordance with the terms and provisions
set forth herein and shall be evidenced by the Notes (and, if applicable, the
Incremental Facility Notes). One (1) Term Loan A Note, one (1) Term Loan B Note,
one (1) Term Loan C Note, one (1) Revolving Loan Note and, if applicable, one
(1) Incremental Facility Note shall be payable to the order of each Lender, in
accordance with such Lender's applicable Commitment Ratio for Term Loan A Loans,
Term Loan B Loans, Term Loan C Loans, Revolving Loans and, if applicable, the
Incremental Facility Loans, as the case may be and a Swing Line Note shall be
payable to the order of the Swing Line Lender in accordance with the Swing Line
Commitment. The Notes shall be issued by the Borrower to the Lenders and shall
be duly executed and delivered by one or more Authorized Signatories. Any Lender
(i) which is not a U.S. Person (a "Non-U.S. Bank") and (ii) which could become
completely exempt from withholding of United States federal income taxes in
respect of payment of any obligations due to such Lender hereunder relating to
any of its Loans if such Loans were in registered form for United States federal
income tax purposes may request the Borrower (through the Administrative Agent),
and the Borrower agrees thereupon, to register such Loans as provided in
Section 11.5(g) hereof and to issue to such Lender Notes evidencing such Loans
as Registered Notes or to exchange Notes evidencing such Loans for new
Registered Notes, as applicable. Registered Notes may not be exchanged for Notes
that are not in registered form.

    (b) Each Lender may open and maintain on its books in the name of the
Borrower a loan account with respect to its portion of the Loans and interest
thereon. Each Lender which opens such a loan account shall debit such loan
account for the principal amount of its portion of each Advance made by it and
accrued interest thereon, and shall credit such loan account for each payment on
account of principal of or interest on its Loans. The records of a Lender with
respect to the loan account maintained by it shall be prima facie evidence of
its portion of the Loans and accrued interest thereon absent manifest error, but
the failure of any Lender to make any such notations or any error or mistake in
such notations shall not affect the Borrower's repayment obligations with
respect to such Loans.

    Section 2.9  Manner of Payment.  

    (a) Except for payments with respect to any Swing Line Loan (which manner of
payment is set forth in Section 2.16 hereof), each payment (including, without
limitation, any prepayment) by the Borrower on account of the principal of or
interest on the Loans, commitment fees and any other amount owed to the Lenders
or the Administrative Agent or any of them under this Agreement or the Notes
shall be made not later than 1:00 p.m. (New York, New York time) on the date
specified for payment under this Agreement to the Administrative Agent at the
Administrative Agent's Office, for the account of the Lenders or the
Administrative Agent, as the case may be, in lawful money of the United States
of America in immediately available funds. Any payment received by the
Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed
received on the next Business Day. Receipt by the Administrative Agent of any
payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New
York, New York time) on any Business Day shall be deemed to constitute

29

--------------------------------------------------------------------------------

receipt by such Lender or Lenders on such Business Day. In the case of a payment
for the account of a Lender, the Administrative Agent will promptly, but no
later than the close of business on the date such payment is deemed received,
thereafter distribute the amount so received in like funds to such Lender. If
the Administrative Agent shall not have received any payment from the Borrower
as and when due, the Administrative Agent will promptly notify the Lenders
accordingly. In the event that the Administrative Agent shall fail to make
distribution to any Lender as required under this Section 2.9, the
Administrative Agent agrees to pay such Lender interest from the date such
payment was due until paid at the Federal Funds Rate.

    (b) The Borrower agrees to pay principal, interest, fees and all other
amounts due hereunder or under the Notes or the other Loan Documents without
set-off or counterclaim or any deduction whatsoever, including withholding
taxes, excluding, (i) in the case of each Lender and the Administrative Agent
taxes measured by its net income, and franchise taxes imposed on it by the
jurisdiction under the laws of which it is organized or any political
subdivision thereof, (ii) in the case of each Lender, taxes (including, but not
limited to, the Branch Profits Tax under Section 884 of the Code) measured by
its net income, and franchise taxes imposed on it, by the jurisdiction of such
Lender's applicable lending office or any political subdivision thereof and
(iii) in the case of any Lender organized under the laws of a jurisdiction
outside the United States, United States federal withholding tax payable with
respect to payments by the Borrower which would not have been imposed had such
Lender, to the extent then required thereunder, delivered to the Borrower and
the Administrative Agent the forms prescribed by Section 2.13 hereof.

    (c) Prior to the declaration of an Event of Default under Section 8.2
hereof, if some but less than all amounts due from the Borrower are received by
the Administrative Agent with respect to the Obligations, the Administrative
Agent shall distribute such amounts in the following order of priority, all on a
pro rata basis to the Lenders: (i) to the payment on a pro rata basis of any
fees or expenses then due and payable to the Administrative Agent, the Lenders,
or any of them; (ii) to the payment of interest then due and payable on the
Loans and the Swing Line Loans; (iii) to the payment of all other amounts not
otherwise referred to in this Section 2.9(c) then due and payable to the
Administrative Agent or the Lenders, the Swing Line Lender or any of them,
hereunder or under the Notes or any other Loan Document; and (iv) to the payment
of principal then due and payable on the Loans and the Swing Line Loans.

    (d) Subject to any contrary provisions in the definition of Interest Period,
if any payment under this Agreement or any of the other Loan Documents is
specified to be made on a day which is not a Business Day, it shall be made on
the next Business Day, and such extension of time shall in such case be included
in computing interest and fees, if any, in connection with such payment.

    Section 2.10  Reimbursement.  

    (a) Whenever any Lender shall sustain or incur any losses or reasonable
out-of-pocket expenses in connection with (i) failure by the Borrower to borrow,
Convert or Continue any LIBOR Advance after having given notice of its intention
to borrow, Convert or Continue in accordance with Section 2.2 hereof (whether by
reason of the Borrower's election not to proceed or the non-fulfillment of any
of the conditions set forth in Article 3 hereof), or (ii) prepayment (or failure
to prepay after giving notice thereof) of any LIBOR Advance in whole or in part
for any reason, the Borrower agrees to pay to such Lender, upon such Lender's
demand, an amount sufficient to compensate such Lender for all such losses and
out-of-pocket expenses. Such Lender's good faith determination of the amount of
such losses or reasonable out-of-pocket expenses, as set forth in writing and
accompanied by calculations in reasonable detail demonstrating the basis (which
need not reflect the purchase of deposits in the relevant market bearing
interest at the rate applicable to such Advance and having a maturity identical
to the Interest Period for such Advance) for its demand, shall be presumptively
correct absent manifest error.

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    (b) Losses subject to reimbursement hereunder shall include, without
limiting the generality of the foregoing, lost margins, expenses incurred by any
Lender or any participant of such Lender permitted hereunder in connection with
the re-employment of funds prepaid, paid, repaid, not borrowed, or not paid, as
the case may be, and will be payable whether the Revolving Loan Maturity Date,
Term Loan A Maturity Date, Term Loan B Maturity Date, Term Loan C Maturity Date
and Incremental Facility Maturity Date, as applicable is changed by virtue of an
amendment hereto (unless such amendment expressly waives such payment) or as a
result of acceleration of the Obligations.

    Section 2.11  Pro Rata Treatment.  

    (a)  Advances.  Each Advance (other than a Swing Line Advance) under the
Revolving Loan Commitments from the Lenders hereunder shall be made pro rata on
the basis of the applicable Commitment Ratios of the Lenders having a Revolving
Loan Commitment. Each Advance under the Term Loan A Commitment shall be made pro
rata on the basis of the applicable Commitment Ratios of the Lenders having Term
Loan A Commitments. Each Advance under the Term Loan B Commitment shall be made
pro rata on the basis of the applicable Commitment Ratios of the Lenders having
Term Loan B Commitments. Each Advance under the Term Loan C Commitment shall be
made pro rata on the basis of the applicable Commitment Ratios of the Lenders
having Term Loan C Commitments.

    (b)  Payments.  Each payment and prepayment of principal of the Loans (other
than Swing Line Loans), and, except as provided in Section 2.2(e) and Article 10
hereof, each payment of interest on the Loans (other than Swing Line Loans),
shall be made to the Lenders having interest in the Loans being paid pro rata on
the basis of their respective unpaid principal amounts outstanding under the
Notes (including, if applicable, the Incremental Facility Notes) immediately
prior to such payment or prepayment. If any Lender shall obtain any payment
(whether involuntary, through the exercise of any right of set-off, or
otherwise) on account of the Loans in excess of its ratable share of the Loans
under its Commitment Ratio, such Lender shall forthwith purchase from the other
Lenders such participations in the portion of the Loans made by them as shall be
necessary to cause such purchasing Lender to share the excess payment ratably
with each of them; provided, however, that if all or any portion of such excess
payment is thereafter recovered from such purchasing Lender, such purchase from
each Lender shall be rescinded and such Lender shall repay to the purchasing
Lender the purchase price to the extent of such recovery. The Borrower agrees
that any Lender so purchasing a participation from another Lender pursuant to
this Section 2.11(b) may, to the fullest extent permitted by law, exercise all
its rights of payment (including, without limitation, the right of set-off) with
respect to such participation as fully as if such Lender were the direct
creditor of the Borrower in the amount of such participation. If the Swing Line
Lender shall obtain any payment (whether involuntary or otherwise) on account of
the Swing Line Loans in excess of the Swing Line Loans then outstanding and the
Swing Line Lender's share of any expenses, fees and other items due and payable
to it hereunder, the Swing Line Lender shall forthwith return such excess
payment to the Administrative Agent, as appropriate, for distribution (i) if an
amount is due and payable to the Lenders hereunder among the Lenders based on
the provisions of this Section and (ii) in all other cases, to the Borrower.

    (c) At the election of the Borrower, amounts to be applied, pursuant to
Sections 2.7(b)(iv), (v) or (vi) hereof, to prepayment of principal bearing
interest at the LIBOR Basis may be remitted into a specifically designated
"Deposit Account" and shall not be applied to such prepayment until the end of
the Interest Period ending after the date such payment would otherwise be
required, so as to avoid incurrence of costs required pursuant to Section 2.10
which might otherwise be incurred upon prepayment. In the event the aggregate
amount to be prepaid by reason of Section 2.7(b)(iv),(v) or (vi) hereof exceeds
the amount of principal to be prepaid at the end of the first such Interest
Period to terminate after the relevant date of reduction, the excess shall
remain in such specifically designated Deposit Account until the end of the next
Interest Period, and so on, until the full amount required to be repaid under
Section 2.7(b)(iv),(v) or (vi) hereof has been applied to the Loans. As used
herein, the

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aforesaid "Deposit Account" shall be an interest-bearing account maintained with
the Administrative Agent as part of the Collateral, and Borrower hereby
authorizes the Administrative Agent to apply as set forth above or, at any time
during the continuance of an Event of Default, without further authorization
from the Borrower, the balance of said Deposit Account to the prepayments
required hereunder.

    (d)  Commitment Reductions.  Any reduction of the Revolving Loan Commitments
required or permitted hereunder shall reduce, as applicable, the Revolving Loan
Commitment of each Lender having such a commitment on a pro rata basis based on
the Commitment Ratio of such Lender for such commitment.

    Section 2.12  Capital Adequacy.  If after the date hereof, the adoption of
any Applicable Law regarding the capital adequacy of banks or bank holding
companies, or any change in Applicable Law (whether adopted before or after the
Agreement Date) or any change in the interpretation or administration thereof by
any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by such Lender (or the
bank holding company of such Lender) or the Swing Line Lender with any directive
regarding capital adequacy (whether or not having the force of law) of any such
governmental authority, central bank or comparable agency, has or would have the
effect of reducing the rate of return on any Lender's or the Swing Line Lender's
capital as a consequence of its obligations hereunder with respect to the Loans
and the Commitments or the Swing Line Loans and the Swing Line Commitment to a
level below that which it could have achieved but for such adoption, change or
compliance (taking into consideration such Lender's or Swing Line Lender's
policies with respect to capital adequacy immediately before such adoption,
change or compliance and assuming that such Lender's or Swing Line Lender's
capital was fully utilized prior to such adoption, change or compliance) by an
amount reasonably deemed by such Lender or the Swing Line Lender to be material,
then, if such Lender or the Swing Line Lender exercises its capital adequacy
protection rights (if any) generally for borrowers situated similarly to the
Borrower and upon demand by such Lender or the Swing Line Lender, the Borrower
shall promptly pay to such Lender or the Swing Line Lender such additional
amounts as shall be sufficient to compensate such Lender or the Swing Line
Lender for such reduced return, together with interest on such amount from the
fourth (4th) Business Day after the date of demand or the Revolving Loan
Maturity Date, Term Loan A Maturity Date, Term Loan B Maturity Date, Term Loan C
Maturity Date and Incremental Facility Maturity Date, as applicable, until
payment in full thereof at the Default Rate. A certificate of such Lender or the
Swing Line Lender setting forth the amount to be paid to such Lender or the
Swing Line Lender by the Borrower as a result of any event referred to in this
paragraph and supporting calculations in reasonable detail shall be
presumptively correct absent manifest error.

    Section 2.13  Lender Tax Forms.  On or prior to the Agreement Date or on or
prior to the date such Lender becomes a party hereto pursuant to Section 11.5
hereof, and on or prior to the first Business Day of each calendar year
thereafter, each Lender which is organized in a jurisdiction other than the
United States or state thereof shall provide each of the Administrative Agent
and the Borrower with a properly executed originals of Form 4224 or 1001 (or any
successor form) prescribed by the Internal Revenue Service or other documents
satisfactory to the Borrower and the Administrative Agent, and/or properly
executed Internal Revenue Service Form W-8 or W-9, as the case may be, to the
extent permitted under Applicable Law, certifying (i) as to such Lender's status
for purposes of determining exemption from United States withholding taxes with
respect to all payments to be made to such Lender hereunder and under the Notes
or (ii) that all payments to be made to such Lender hereunder and under the
Notes are subject to such taxes at a rate reduced to zero by an applicable tax
treaty. Each such Lender agrees to provide the Administrative Agent and the
Borrower with new forms prescribed by the Internal Revenue Service upon the
expiration or obsolescence of any

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previously delivered form, or after the occurrence of any event requiring a
change in the most recent forms delivered by it to the Administrative Agent and
the Borrower.

    Section 2.14  Incremental Facility Advances.  

    (a) Subject to the terms and conditions of this Agreement, the Borrower may
request the Incremental Facility Commitment on any Business Day; provided,
however, that the Borrower may not request the Incremental Facility Commitment
or an Incremental Facility Advance after the occurrence and during the
continuance of a Default, including, without limitation, any Event of Default
that would result after giving effect to any Incremental Facility Advance; and
provided, further, that the Borrower may request only three (3) Incremental
Facility Commitments (although such commitments may be from more than one
Lender) and must request a minimum Incremental Facility Commitment of
$75,000,000. The aggregate amount of the Incremental Facility Commitment and
outstanding Incremental Facility Advances shall not exceed $275,000,000. The
maturity date for the Incremental Facility Advances shall be no earlier than
twelve (12) calendar months after the Revolving Loan Maturity Date, Term Loan A
Maturity Date, Term Loan B Maturity Date and Term Loan C Maturity Date, as
applicable. The decision of any Lender to make an Incremental Facility
Commitment to the Borrower shall be at such Lender's sole discretion and shall
be made in writing. The Incremental Facility Commitment (x) may be in the form
of a revolving credit facility, (y) must not require principal repayment
earlier, or in amount larger (or percentage greater), than those set forth in,
the repayment schedule for the Term Loans or the Revolving Loans as set forth in
Section 2.7(b) hereof and (z) must be governed by this Agreement and the other
Loan Documents and be on terms and conditions no more restrictive than those set
forth herein and therein. Each Lender shall have the right, but not the
obligation, to participate in any Incremental Facility Commitment on a pro rata
basis.

    (b) Prior to the effectiveness of the Incremental Facility Commitment, the
Borrower shall (i) deliver to the Administrative Agent and the Lenders a Notice
of Incremental Facility Commitment in substantially the form of Exhibit C
attached hereto; and (ii) provide revised projections to the Administrative
Agent and the Lenders, which shall be in form and substance reasonably
satisfactory to the Administrative Agent and which shall demonstrate the
Borrower's ability to timely repay such Incremental Facility Commitment and any
Incremental Facility Advances thereunder and to comply with the covenants
contained in Sections 7.8, 7.9, 7.10, 7.11 and 7.12 hereof.

    (c) No Incremental Facility Commitment shall by itself result in any
reduction of the Commitment or of the Commitment Ratio of the Lender making such
Incremental Facility Commitment.

    (d) Incremental Facility Advances (i) shall bear interest at the Base Rate
Basis or the LIBOR Basis; (ii) subject to Section 2.14(a) hereof, shall be
repaid as agreed to by the Borrower and the Lender making such Incremental
Facility Advances; (iii) shall for all purposes be Loans and Obligations
hereunder and under the Loan Documents; (iv) shall be represented by an
Incremental Facility Note in substantially the form of Exhibit M attached
hereto; and (v) shall rank pari passu with the other Loans for purposes of
Sections 2.9 and 8.2 hereof.

    (e) Incremental Facility Advances shall be requested by the Borrower
pursuant to a request (which shall be in substantially the form of a Request for
Advance) delivered in the same manner as a Request for Advance, but shall be
funded pro rata only by those Lenders holding the Incremental Facility
Commitment.

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    Section 2.15  Replacement of Lenders.  The Borrower shall have the right, if
no Default then exists, to replace any Lender (the "Replaced Lender") with one
or more other assignees permitted under Section 11.5 hereof reasonably
acceptable to the Administrative Agent (the "Replacement Lender") if (x) such
Lender is charging the Borrower increased costs pursuant to Section 10.3 hereof
in excess of those being charged generally by the other Lenders or such Lender
becomes incapable of making LIBOR Advances as provided in Section 10.3 hereof
and/or (y) such Lender fails to fund a properly requested Advance at a time when
there does not exist a Default or Event of Default; provided, however, that
(i) at the time of any replacement pursuant to this Section 2.15, the
Replacement Lender and the Replaced Lender shall enter into one or more
assignment agreements (and with all fees payable pursuant to said Section 11.5
hereof to be paid by the Replacement Lender) pursuant to which the Replacement
Lender shall acquire all of the Commitments and outstanding Loans of the
Replaced Lender and, in connection therewith, shall pay to (x) the Replaced
Lender, an amount equal to the sum of (A) the principal of, and all accrued
interest on, all outstanding Loans of the Replaced Lender, and (B) all accrued,
but theretofore unpaid, fees, owing to the Replaced Lender pursuant to
Section 2.4 hereof, and (ii) all obligations of the Borrower owing to the
Replaced Lender (other than those specifically described in clause (i) above in
respect of which the assignment purchase price has been, or is concurrently
being, paid, but including any amounts which would be paid to a Lender pursuant
to Section 2.7 hereof if Borrower were prepaying a LIBOR Advance) shall be paid
in full to such Replaced Lender concurrently with such replacement. Upon the
execution of the respective assignment agreement, the payment of amounts
referred to in clauses (i) and (ii) above and, if so requested by the
Replacement Lender, delivery to the Replacement Lender of Notes executed by
Borrower, the Replacement Lender shall become a Lender hereunder and the
Replaced Lender shall cease to constitute a Lender hereunder and be released of
all its obligations as a Lender, except with respect to indemnification
provisions applicable to the Replaced Lender under this Agreement, which shall
survive as to such Replaced Lender.

    Section 2.16  Swing Line Loans.  

    (a)  Swing Line Advances.  Subject to and upon the terms and conditions set
forth herein, at any time and from time to time on and after the date on which
the Swing Line Lender becomes party to this Agreement by assignment or otherwise
and prior to the Revolving Loan Maturity Date, the Borrower, prior to 1:00 p.m.
(New York time) or such earlier time if agreed to by the Swing Line Lender on
the Business Day of funding any Swing Line Advance, shall give to the Swing Line
Lender an irrevocable written notice in the form of a Request for Swing Line
Advance or telephonic notice followed immediately by a Request for Swing Line
Advance; provided, however, that the failure by the Borrower to confirm any
telephonic notice with a Request for Swing Line Advance shall not invalidate any
notice so given.

    (b)  Prepayment and Repayment.  

     (i) Upon demand of the Swing Line Lender, if such demand is delivered prior
to 10:00 a.m. (New York time) on a Business Day, the Borrower shall on the
following Business Day make a repayment of the Swing Line Loans then outstanding
in the amount so requested by the Swing Line Lender; provided, however, that if
such demand is delivered to the Borrower at or after 10:00 a.m. (New York time)
on a Business Day, the Borrower shall on the second (2nd) Business Day following
receipt of such demand make such repayment. In order to facilitate repayment of
the Swing Line Loans, the Borrower hereby irrevocably requests the Lenders
having Revolving Loan Commitments, and the Lenders having Revolving Loan
Commitments hereby severally agree, on the terms and conditions of this
Agreement (other than as provided in Article 2 hereof with respect to the
amounts of, the time of requests for and the repayment of Advances hereunder and
in Article 3 hereof with respect to conditions precedent to Advances hereunder),
with respect to Swing Line Loans outstanding, upon request of the Swing Line
Lender or the Borrower (including, without limitation, after and during the
continuation of any Default or Event of Default, but prior

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to the occurrence of an event described in clauses (f) or (g) of Section 8.1
hereof), to make an Advance to the Borrower in the amount of such outstandings
and to pay the proceeds of such Advance directly to the Administrative Agent to
reimburse the Swing Line Lender for the amount of the Swing Line Loans then
outstanding; provided, however, that no Lender having a Revolving Loan
Commitment shall be required to make such Advance if, at the time that the Swing
Line Lender agreed to fund any Swing Loan Advance, the Swing Line Lender had
knowledge of the existence of a Default. Each Lender having a Revolving Loan
Commitment shall pay its share of such Advance by paying its portion of such
Advance to the Administrative Agent in accordance with Section 2.2(e) hereof and
its Commitment Ratio for Revolving Loans, without reduction for any set-off or
counterclaim of any nature whatsoever and regardless of whether any Default or
Event of Default (other than with respect to an event described in clauses
(f) or (g) of Section 8.1 hereof) then exists or would be caused thereby. If at
any time that the Swing Line Loans are outstanding, any of the events described
in clauses (f) or (g) of Section 8.1 hereof shall have occurred and be
continuing, then each Lender having a Revolving Loan Commitment shall,
automatically upon the occurrence of any such event and without any action on
the part of the Swing Line Lender, the Borrower, the Administrative Agent or the
Lenders, or any of them, be deemed to have purchased an undivided participation
in the then outstanding principal amount of the Swing Line Loans then
outstanding in an amount equal to such Lender's Commitment Ratio for Revolving
Loans, times the principal amount of the Swing Line Loans then outstanding, and
each Lender having a Revolving Loan Commitment shall, notwithstanding such Event
of Default, immediately pay to the Administrative Agent for the account of the
Swing Line Lender, in immediately available funds, the amount of such Lender's
participation (and the Swing Line Lender shall deliver to such Lender having a
Revolving Loan Commitment a written confirmation of such loan participation
dated the date of the occurrence of such event and in the amount of such
Lender's Commitment Ratio, times the principal amount of the Swing Line Loans
then outstanding).

    (ii) The Borrower agrees to pay principal, interest, fees and all other
amounts due hereunder or under the Swing Line Note without set-off or
counterclaim or any deduction whatsoever and free clear of all taxes (other than
taxes based on the income of the Swing Line Lender), levies and withholding.

    (iii) If the Borrower is required by Applicable Law to deduct any taxes from
or in respect of any sum payable to the Swing Line Lender hereunder, under the
Swing Line Note or under any other Loan Document: (i) the sum payable hereunder
or thereunder, as applicable, shall be increased to the extent necessary to
provide that, after making all required deductions (including, without
limitation, deductions applicable to additional sums payable under this
Section 2.16(b)), the Swing Line Lender receives an amount equal to the sum it
would have received had no such deductions been made; (ii) the Borrower shall
make such deductions from such sums payable hereunder or thereunder, as
applicable, and pay the amount so deducted to the relevant taxing authority as
required by Applicable Law; and (iii) the Borrower shall provide the Swing Line
Lender with evidence satisfactory to the Swing Line Lender that such deducted
amounts have been paid to the relevant taxing authority. Before making any such
deductions, the Swing Line Lender shall designate a different lending office and
shall take such alternative courses of action if such designation or alternative
courses of action will avoid the need for such deductions and will not in the
good faith judgment of the Swing Line Lender be otherwise disadvantageous to the
Swing Line Lender.

    (c)  Interest Period; Interest and Payments on Swing Line
Advances.  Interest on each Swing Line Advance shall be, at the option of the
Borrower, either (i) computed in the same manner as interest on each Base Rate
Advance, or (ii) such rate as the Borrower and the Swing Line Lender shall agree
upon provided however such rate payable on the Swing Line Advances shall not
exceed the highest rate

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payable on Loans hereunder after giving effect to the relevant Applicable
Margin, and in each case, shall be payable on the same terms as interest on each
Base Rate Advance.

    (d)  Amendments to Swing Line.  Subject to Section 11.12 hereof, the parties
hereto hereby agree that the provisions of Section 2.16 hereof may be modified
or waived only by a writing signed by the Borrower, the Administrative Agent,
and the Swing Line Lender and that the terms "Swing Line Commitment" and
"Available Swing Line Commitment" may only be modified or amended by a writing
signed by the Borrower, the Administrative Agent and the Swing Line Lender,
provided that any changes to the provisions of Section 2.16 hereof which affect
the obligations thereunder of the Lenders having Revolving Loan Commitments
shall require the consent of the Required Lenders and the Swing Line Lender
(increases to the Swing Line Commitment shall be deemed to be changes which do
not affect such obligations).

    (e)  Notice of Outstandings.  The Swing Line Lender shall give the
Administrative Agent notice of the aggregate amount of outstanding Swing Line
Loans at intervals agreed upon by the Swing Line Lender and the Administrative
Agent.

ARTICLE 3

Conditions Precedent

    Section 3.1  Condition Precedent to Effectiveness of Agreement.  The
obligation of the Lenders to undertake the Commitments, and the effectiveness of
this Agreement are subject to the receipt by the Administrative Agent of
executed signature pages to this Agreement from the Required Lenders.

    Section 3.2  Conditions Precedent to Each Advance.  The obligation of the
Lenders to make each Advance and the Swing Line Lender to make Swing Line
Advances on or after the Agreement Date which increases the principal amount of
the Loans outstanding is subject to the fulfillment of each of the following
conditions immediately prior to or contemporaneously with such Advance or Swing
Line Advance:

    (a) All of the representations and warranties of the Borrower under this
Agreement and the other Loan Documents (including, without limitation, all
representations and warranties with respect to the Borrower's Subsidiaries),
which, pursuant to Section 4.2 hereof, are made at and as of the time of such
Advance, shall be true and correct at such time in all material respects, both
before and after giving effect to the application of the proceeds of such
Advance, and after giving effect to any updates to information provided to the
Lenders in accordance with the terms of such representations and warranties, and
no Default hereunder shall then exist or be caused thereby;

    (b) The Administrative Agent shall have received a duly executed Request for
Advance which shall contain evidence satisfactory to the Administrative Agent
that the Borrower is, as of the date of such Advance and after giving effect
thereto, in compliance with Sections 7.8, 7.9, 7.10, 7.11 and 7.12 hereof;

    (c) Each of the Administrative Agent and the Lenders shall have received all
such other certificates, reports, statements, opinions of counsel (if such
Advance is in connection with an Acquisition) or other documents as the
Administrative Agent or any Lender may reasonably request;

    (d) With respect to any Advance relating to any Acquisition or the formation
of any Subsidiary which is permitted hereunder, the Administrative Agent and the
Lenders shall have received such documents and instruments relating to such
Acquisition or formation of a new Subsidiary as are described in Section 5.14
hereof or otherwise required herein; and

    (e) No Materially Adverse Effect shall have occurred and no event shall have
occurred which, in the reasonable opinion of the Required Lenders, may be
expected to have a Materially Adverse Effect.

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ARTICLE 4

Representations and Warranties

    Section 4.1  Representations and Warranties.  The Borrower hereby agrees,
represents and warrants, upon the Agreement Date, and at all times thereafter as
required pursuant to the terms hereof, in favor of the Administrative Agent, the
Swing Line Lender and each Lender that:

    (a)  Organization; Ownership; Power; Qualification.  The Borrower is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Minnesota. The Borrower has the corporate power and authority to
own its properties and to carry on its business as now being and as proposed
hereafter to be conducted. Each Subsidiary of the Borrower is a corporation or
partnership duly organized, validly existing and in good standing under the laws
of the state of its incorporation or formation, as the case may be, and has the
corporate or partnership power, as the case may be, and authority to own its
properties and to carry on its business as now being and as proposed hereafter
to be conducted. The Borrower and each of its Subsidiaries are duly qualified,
in good standing and authorized to do business in each jurisdiction in which the
character of their respective properties or the nature of their respective
businesses requires such qualification or authorization.

    (b)  Authorization; Enforceability.  The Borrower has the corporate power
and has taken all necessary corporate action to authorize it to borrow
hereunder, to execute, deliver and perform this Agreement and each of the other
Loan Documents to which it is a party in accordance with their respective terms,
and to consummate the transactions contemplated hereby and thereby. This
Agreement has been duly executed and delivered by the Borrower and is, and each
of the other Loan Documents to which the Borrower is a party is, a legal, valid
and binding obligation of the Borrower enforceable against the Borrower in
accordance with its terms, subject, as to enforcement of remedies, to the
following qualifications: (i) an order of specific performance and an injunction
are discretionary remedies and, in particular, may not be available where
damages are considered an adequate remedy at law; (ii) enforcement may be
limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction
and other similar laws affecting enforcement of creditors' rights generally
(insofar as any such law relates to the bankruptcy, insolvency or similar event
of the Borrower); and (iii) a court, on equitable grounds, may decline to
enforce certain provisions or allow the exercise of certain remedies based upon
the facts and circumstances that may exist at the time the enforcement or
exercise is sought.

    (c)  Subsidiaries; Authorization; Enforceability.  The Borrower's
Subsidiaries and the Borrower's direct and indirect ownership thereof as of the
Agreement Date are as set forth on Schedule 3 attached hereto, and to the extent
such Subsidiaries are corporations, the Borrower has the unrestricted right to
vote the issued and outstanding shares of the Subsidiaries shown thereon and
such shares of such Subsidiaries have been duly authorized and issued and are
fully paid and nonassessable. Each Subsidiary of the Borrower has the corporate
or partnership power and has taken all necessary corporate or partnership action
to authorize it to execute, deliver and perform each of the Loan Documents to
which it is a party in accordance with their respective terms and to consummate
the transactions contemplated by this Agreement and by such Loan Documents. Each
of the Loan Documents to which any Subsidiary of the Borrower is a party is a
legal, valid and binding obligation of such Subsidiary enforceable against such
Subsidiary in accordance with its terms, subject, as to enforcement of remedies,
to the following qualifications: (i) an order of specific performance and an
injunction are discretionary remedies and, in particular, may not be available
where damages are considered an adequate remedy at law; (ii) enforcement may be
limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction
and other similar laws affecting enforcement of creditors' rights generally
(insofar as any such law relates to the bankruptcy, insolvency or similar event
of any such Subsidiary) and (iii) a court, on equitable grounds, may decline to
enforce certain provisions or allow the exercise of certain remedies based upon
the facts and circumstances that may exist at the

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time the enforcement or exercise is sought. The Borrower's ownership interest in
each of its Subsidiaries represents a direct or indirect controlling interest of
such Subsidiary for purposes of directing or causing the direction of the
management and policies of each Subsidiary.

    (d)  Compliance with Other Loan Documents and Contemplated
Transactions.  The execution, delivery and performance, in accordance with their
respective terms, by the Borrower of this Agreement and the Notes, and by the
Borrower and its Subsidiaries of each of the other Loan Documents to which they
are respectively party, and the consummation of the transactions contemplated
hereby and thereby, do not and will not (i) require any consent or approval,
governmental or otherwise, not already obtained, (ii) violate any Applicable Law
respecting the Borrower or any of its Subsidiaries, (iii) conflict with, result
in a breach of, or constitute a default under the certificate or articles of
incorporation or by-laws or partnership agreements, as the case may be, as
amended, of the Borrower or any of its Subsidiaries, or under any material
indenture, agreement, or other instrument, including, without limitation, the
Licenses, to which the Borrower or any of its Subsidiaries is a party or by
which any of them or their respective properties may be bound, or (iv) result in
or require the creation or imposition of any Lien upon or with respect to any
property now owned or hereafter acquired by the Borrower or any of its
Subsidiaries, except for Permitted Liens.

    (e)  Business.  The Borrower, together with its Subsidiaries, is engaged in
the business of owning, constructing, managing, operating and investing in
Cellular Systems and other wireless communications and related businesses.

    (f)  Licenses, etc.  The Licenses have been duly issued and are in full
force and effect. The Borrower and its Subsidiaries are in compliance in all
material respects with all of the provisions thereof. The Borrower and its
Subsidiaries have secured all Necessary Authorizations and all such Necessary
Authorizations are in full force and effect. Except as set forth in Schedule 4
attached hereto, neither any License nor any Necessary Authorization is the
subject of any pending or, to the best of the Borrower's or any of its
Subsidiaries' knowledge, threatened revocation.

    (g)  Compliance with Law.  The Borrower and its Subsidiaries are in
compliance with all Applicable Laws in all material respects, except where the
failure to be in compliance would not, individually or in the aggregate, have a
Materially Adverse Effect.

    (h)  Title to Assets.  As of the Agreement Date, the Borrower and its
Subsidiaries have good, legal and marketable title to, or a valid leasehold
interest in, all of its material assets. None of the properties or assets of the
Borrower or any of its Subsidiaries is subject to any Liens, except for
Permitted Liens. Except for financing statements evidencing Permitted Liens, no
financing statement under the Uniform Commercial Code as in effect in any
jurisdiction and no other filing which names the Borrower or any of its
Subsidiaries as debtor or which covers or purports to cover any of the assets of
the Borrower or any of its Subsidiaries is currently effective and on file in
any state or other jurisdiction, and neither the Borrower nor any of its
Subsidiaries has signed any such financing statement or filing or any security
agreement authorizing any secured party thereunder to file any such financing
statement or filing.

    (i)  Litigation.  There is no action, suit, proceeding or investigation
pending against, or, to the knowledge of the Borrower, threatened against or in
any other manner relating adversely to, the Borrower or any of its Subsidiaries
or any of their respective properties, including without limitation the
Licenses, in any court or before any arbitrator of any kind or before or by any
governmental body (including without limitation the FCC) except as set forth on
Schedule 5 attached hereto (as such schedule may be updated with the consent of
the Required Lenders from time to time). No such action, suit, proceeding or
investigation (i) calls into question the validity of this Agreement or any
other Loan Document, or (ii) individually or collectively involves the
possibility of any judgment or

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liability not fully covered by insurance which, if determined adversely to the
Borrower or any of its Subsidiaries, would have a Materially Adverse Effect.

    (j)  Taxes.  All federal, state and other tax returns of the Borrower and
each of its Subsidiaries required by law to be filed have been duly filed and
all federal, state and other taxes, including, without limitation, withholding
taxes, assessments and other governmental charges or levies required to be paid
by the Borrower or any of its Subsidiaries or imposed upon the Borrower or any
of its Subsidiaries or any of their respective properties, income, profits or
assets, which are due and payable, have been paid, except any such taxes (i) (x)
the payment of which the Borrower or any of its Subsidiaries is diligently
contesting in good faith by appropriate proceedings, (y) for which adequate
reserves have been provided on the books of the Borrower or its Subsidiaries
involved, and (z) as to which no Lien other than a Permitted Lien has attached
and no foreclosure, distraint, sale or similar proceedings have been commenced,
or (ii) which may result from audits not yet conducted. The charges, accruals
and reserves on the books of the Borrower and its Subsidiaries in respect of
taxes are, in the judgment of the Borrower, adequate.

    (k)  Financial Statements.  The Borrower has furnished or caused to be
furnished to the Administrative Agent and the Lenders as of the Agreement Date,
audited financial statements of the Borrower and audited financial statements of
the Subsidiaries of the Borrower on a consolidated basis for the fiscal year
ended December 31, 1999, and unaudited financial statements of the Borrower and
its Subsidiaries on a consolidated basis for the fiscal quarter ended
September 30, 1999, all of which have been prepared in accordance with GAAP and
present fairly in all material respects the financial position of the Borrower
and its Subsidiaries on a consolidated and consolidating basis, as the case may
be, on and as at such dates and the results of operations for the periods then
ended. Neither the Borrower nor any of its Subsidiaries has any material
liabilities, contingent or otherwise, other than as disclosed in the financial
statements referred to in the preceding sentence or as set forth or referred to
in this Agreement, and there are no material unrealized losses of the Borrower
or any of its Subsidiaries and no material anticipated losses of the Borrower or
any of its Subsidiaries other than (i) writeoffs of the Borrower's unamortized
costs in connection with the Prior Loan Agreement and (ii) those which have been
previously disclosed in writing to the Administrative Agent and the Lenders and
identified as such.

    (l)  No Material Adverse Change.  There has occurred no event since
December 31, 1999 which has or which could reasonably be expected to have a
Materially Adverse Effect.

    (m)  ERISA.  The Borrower and each of its Subsidiaries and each of their
respective Plans are in material compliance with ERISA and the Code. Neither the
Borrower nor any of its ERISA Affiliates, including its Subsidiaries, has
incurred any accumulated funding deficiency with respect to any Employee Pension
Plan within the meaning of ERISA or the Code. Neither the Borrower nor any of
its Subsidiaries has made any promises of retirement or other benefits to
employees, except as set forth in the Plans, in written agreements with such
employees, or in the Borrower's employee handbook and memoranda to employees.
Neither the Borrower nor any of its ERISA Affiliates, including its
Subsidiaries, has incurred any material liability to PBGC in connection with any
such Plan; have suffered the imposition of a Lien under Section 412(m) of the
Code; or have been required to provide security as a result of any amendment to
any such Plan as required by Section 401(a)(29) of the Code. The assets of each
such Plan which is subject to Title IV of ERISA are sufficient to provide the
benefits under such Plan, the payment of which PBGC would guarantee if such Plan
were terminated, and such assets are also sufficient to provide all other
"benefit liabilities" (within the meaning of Section 4041 of ERISA) due under
the Plan upon termination. No Reportable Event which would cause a Materially
Adverse Effect has occurred and is continuing with respect to any such Plan. No
such Plan or trust created thereunder, or party in interest (as defined in
Section 3(14) of ERISA), or any fiduciary (as defined in Section 3(21) of
ERISA), has engaged in a "prohibited transaction" (as such term is defined in
Section 406 of ERISA or Section 4975 of the Code) which would subject such

39

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Plan or any other Plan of the Borrower or any of its Subsidiaries, any trust
created thereunder, or any such party in interest or fiduciary, or any party
dealing with any such Plan or any such trust, to the tax or penalty on
"prohibited transactions" imposed by Section 502 of ERISA or Section 4975 of the
Code which would cause a Materially Adverse Effect. Neither the Borrower nor any
of its ERISA Affiliates, including its Subsidiaries, is or has been obligated to
make any payment to a Multiemployer Plan.

    (n)  Compliance with Regulations T, U and X.  Neither the Borrower nor any
of its Subsidiaries is engaged principally or as one of its important activities
in the business of extending credit for the purpose of purchasing or carrying,
and neither the Borrower nor any of the Borrower's Subsidiaries owns or
presently intends to acquire, any "margin security" or "margin stock" as defined
in Regulations T, U, and X (12 C.F.R. Parts 220, 221 and 224) (the
"Regulations") of the Board of Governors of the Federal Reserve System (herein
called "margin stock"). None of the proceeds of the Loans will be used, directly
or indirectly, for the purpose of purchasing or carrying any margin stock or for
the purpose of reducing or retiring any Indebtedness which was originally
incurred to purchase or carry margin stock or for any other purpose which might
constitute this transaction a "purpose credit" within the meaning of the
Regulations. Neither the Borrower nor any of its Subsidiaries has taken, caused
or authorized to be taken, and will not take any action which might cause this
Agreement or the Notes to violate any of the Regulations or any other regulation
of the Board of Governors of the Federal Reserve System or to violate the
Exchange Act, in each case as now in effect or as the same may hereafter be in
effect. If so requested by the Administrative Agent, the Borrower will furnish
the Administrative Agent with (i) a statement or statements in conformity with
the requirements of Federal Reserve Form U-1 or G-3 referred to in Regulation U
of said Board of Governors and (ii) other documents evidencing its compliance
with the margin regulations, reasonably requested by the Administrative Agent.
Neither the making of the Loans nor the use of proceeds thereof will violate, or
be inconsistent with, the provisions of any of the Regulations.

    (o)  Investment Company Act.  Neither the Borrower nor any of its
Subsidiaries is required to register under the provisions of the Investment
Company Act of 1940, as amended, and neither the entering into or performance by
the Borrower and its Subsidiaries of this Agreement and the Loan Documents nor
the issuance of the Notes violates any provision of such Act or requires any
consent, approval or authorization of, or registration with, the Securities and
Exchange Commission or any other governmental or public body or authority
pursuant to any provisions of such Act.

    (p)  Governmental Regulation.  Neither the Borrower nor any of its
Subsidiaries is required to obtain any consent, approval, authorization, permit
or license which has not already been obtained from, or effect any filing or
registration which has not already been effected with, any federal, state or
local regulatory authority in connection with the execution and delivery of this
Agreement or any other Loan Document. Neither the Borrower nor any of its
Subsidiaries is required to obtain any consent, approval, authorization, permit
or license which has not already been obtained from, or effect any filing or
registration which has not already been effected with, any federal, state or
local regulatory authority in connection with the performance, in accordance
with their respective terms, of this Agreement or any other Loan Document, other
than filing of appropriate UCC financing statements.

    (q)  Absence of Default, Etc.  The Borrower and its Subsidiaries are in
compliance in all respects with all of the provisions of their respective
partnership agreements, Certificates or Articles of Incorporation and By-Laws,
as the case may be, and no event has occurred or failed to occur (including,
without limitation, any matter which could create a Default hereunder by
cross-default) which has not been remedied or waived, the occurrence or
non-occurrence of which constitutes, (i) a Default or (ii) a material default by
the Borrower or any of its Subsidiaries under any indenture, agreement or other
instrument relating to Indebtedness of the Borrower or any of its Subsidiaries
in the amount of $1,000,000 or more in the aggregate, any License, or any
judgment, decree or order to which the Borrower or any of its Subsidiaries is a
party or by which the Borrower or any of its

40

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Subsidiaries or any of their respective properties may be bound or affected. The
Loans are "Senior Indebtedness" as defined under the terms of the Subordinated
Indebtedness.

    (r)  Accuracy and Completeness of Information.  All information, reports,
prospectuses and other papers and data relating to the Borrower or any of its
Subsidiaries and furnished by or on behalf of the Borrower or any of its
Subsidiaries to the Administrative Agent or the Lenders were, at the time
furnished, true, complete and correct in all material respects to the extent
necessary to give the Administrative Agent and the Lenders true and accurate
knowledge of the subject matter, and all projections, consisting of a statement
of operating statistics, an income statement summary, a debt repayment schedule
and pro forma compliance calculations (the "Projections") (i) disclose all
assumptions made with respect to costs, general economic conditions, and
financial and market conditions formulating the Projections; (ii) are based on
reasonable estimates and assumptions; and (iii) reflect, as of the date
prepared, and continue to reflect, as of the date hereof, the reasonable
estimate of Borrower of the results of operations and other information
projected therein for the periods covered thereby.

    (s)  Agreements with Affiliates.  Except for agreements or arrangements with
Affiliates wherein the Borrower or one or more of its Subsidiaries provides
services to such Affiliates for fair consideration or which are set forth on
Schedule 6 attached hereto, neither the Borrower nor any of its Subsidiaries has
(i) any written agreements or binding arrangements of any kind with any
Affiliate or (ii) any management or consulting agreements of any kind with any
Affiliate.

    (t)  Payment of Wages.  The Borrower and each of its Subsidiaries are in
compliance with the Fair Labor Standards Act, as amended, in all material
respects, and to the knowledge of the Borrower and each of its Subsidiaries,
such Persons have paid all minimum and overtime wages required by law to be paid
to their respective employees.

    (u)  Priority.  The Security Interest is a valid and, upon filing of
appropriate UCC financing statements or taking of possession, if applicable,
perfected first priority security interest in the Collateral in favor of the
Administrative Agent, for the benefit of itself and the Lenders, securing, in
accordance with the terms of the Security Documents, the Obligations, and the
Collateral is subject to no Liens other than Permitted Liens. The Liens created
by the Security Documents are enforceable as security for the Obligations in
accordance with their terms with respect to the Collateral subject, as to
enforcement of remedies, to the following qualifications: (i) an order of
specific performance and an injunction are discretionary remedies and, in
particular, may not be available where damages are considered an adequate remedy
at law, and (ii) enforcement may be limited by bankruptcy, insolvency,
liquidation, reorganization, reconstruction and other similar laws affecting
enforcement of creditors' rights generally (insofar as any such law relates to
the bankruptcy, insolvency or similar event of the Borrower or any of its
Subsidiaries, as the case may be).

    (v)  Indebtedness.  Except as shown on the financial statements of the
Borrower for the fiscal year ended December 31, 1998 and the Subordinated
Indebtedness, neither the Borrower nor any of its Subsidiaries has outstanding,
as of the Agreement Date, and after giving effect to the initial Advances
hereunder on the Agreement Date, any Indebtedness for Money Borrowed other than
the Loans.

    (w)  Solvency.  As of the Agreement Date and after giving effect to the
transactions contemplated by the Loan Documents (i) the property of the
Borrower, at a fair valuation, will exceed its debt; (ii) the capital of the
Borrower will not be unreasonably small to conduct its business; (iii) the
Borrower will not have incurred debts, or have intended to incur debts, beyond
its ability to pay such debts as they mature; and (iv) the present fair salable
value of the assets of the Borrower will be materially greater than the amount
that will be required to pay its probable liabilities (including debts) as they
become absolute and matured. For purposes of this Section, "debt" means any
liability on a claim, and "claim" means (i) the right to payment, whether or not
such right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, undisputed, legal, equitable, secured or

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unsecured, or (ii) the right to an equitable remedy for breach of performance if
such breach gives rise to a right to payment, whether or not such right to an
equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured,
undisputed, secured or unsecured.

    Section 4.2  Survival of Representations and Warranties, etc.  All
representations and warranties made under this Agreement and any other Loan
Document shall be deemed to be made, and shall be true and correct, at and as of
the Agreement Date and on the date of each Advance except to the extent
previously fulfilled in accordance with the terms hereof and to the extent
relating specifically to the Agreement Date. All representations and warranties
made under this Agreement and the other Loan Documents shall survive, and not be
waived by, the execution hereof by the Lenders and the Administrative Agent, any
investigation or inquiry by any Lender or the Administrative Agent, or the
making of any Advance under this Agreement.

ARTICLE 5

General Covenants

    So long as any of the Obligations is outstanding and unpaid or the Lenders
have an obligation to fund Advances hereunder (whether or not the conditions to
borrowing have been or can be fulfilled), and unless the Required Lenders, or
such greater number of Lenders as may be expressly provided herein, shall
otherwise consent in writing:

    Section 5.1  Preservation of Existence and Similar Matters.  The Borrower
will, and will cause each of its Subsidiaries to:

    (a) preserve and maintain (i) its existence, and (ii) its material rights,
franchises, licenses and privileges in the state of its incorporation,
including, without limiting the foregoing, the Licenses and all other Necessary
Authorizations; and

    (b) qualify and remain qualified and authorized to do business in each
jurisdiction in which the character of its properties or the nature of its
business requires such qualification or authorization.

    Section 5.2  Business; Compliance with Applicable Law.  The Borrower will,
and will cause each of its Subsidiaries to, (a) engage in the business of
owning, constructing, managing, operating and investing in Cellular Systems and
other wireless communications and related businesses and no unrelated
activities, and (b) comply in all material respects with the requirements of all
Applicable Law.

    Section 5.3  Maintenance of Properties.  The Borrower will, and will cause
each of its Subsidiaries to, maintain or cause to be maintained in the ordinary
course of business in good repair, working order and condition (reasonable wear
and tear excepted) all properties used in their respective businesses (whether
owned or held under lease), other than obsolete equipment or unused assets, and
from time to time make or cause to be made all needed and appropriate repairs,
renewals, replacements, additions, betterments and improvements thereto, except
as to leased properties where the landlord is required to make such repairs, in
which event Borrower shall be under no obligation to do so unless the particular
lease permits the Borrower to do so in the absence of the landlord complying
with its obligations.

    Section 5.4  Accounting Methods and Financial Records.  The Borrower will,
and will cause each of its Subsidiaries on a consolidated and consolidating
basis to, maintain a system of accounting established and administered in
accordance with GAAP, keep adequate records and books of account in which
complete entries will be made in accordance with GAAP and reflecting all
transactions required to be reflected by GAAP and keep accurate and complete
records of their respective properties and assets. The Borrower and each of its
Subsidiaries will maintain a fiscal year ending on December 31st.

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    Section 5.5  Insurance.  The Borrower will, and will cause each of its
Subsidiaries to:

    (a) Maintain insurance, including, without limitation, business interruption
coverage and public liability coverage insurance from responsible companies in
such amounts and against such risks to the Borrower and each of its Subsidiaries
as is standard for similarly situated companies engaged in the cellular
telephone and wireless communications industry.

    (b) Keep their respective assets insured by insurers on terms and in a
manner reasonably acceptable to the Administrative Agent against loss or damage
by fire, flood, theft, burglary, loss in transit, explosions and hazards insured
against by extended coverage, in amounts which are prudent for the cellular
telephone and wireless communications industry and reasonably satisfactory to
the Administrative Agent, all premiums thereon to be paid by the Borrower and
its Subsidiaries.

    (c) Require that each insurance policy provide for at least thirty
(30) days' prior written notice to the Administrative Agent of any termination
of or proposed cancellation or nonrenewal of such policy, and name the
Administrative Agent as additional named lender loss payee and, as appropriate,
additional insured, to the extent of the Obligations.

    Section 5.6  Payment of Taxes and Claims.  The Borrower will, and will cause
each of its Subsidiaries to, pay and discharge all taxes, including, without
limitation, withholding taxes, assessments and governmental charges or levies
required to be paid by them or imposed upon them or their income or profits or
upon any properties belonging to them, prior to the date on which penalties
attach thereto, and all lawful claims for labor, materials and supplies which,
if unpaid, might become a Lien or charge upon any of their properties; except
that no such tax, assessment, charge, levy or claim need be paid which is being
diligently contested in good faith by appropriate proceedings and for which
adequate reserves shall have been set aside on the appropriate books, but only
so long as such tax, assessment, charge, levy or claim does not become a Lien or
charge other than a Permitted Lien and no foreclosure, distraint, sale or
similar proceedings shall have been commenced. The Borrower will, and will cause
each of its Subsidiaries to, timely file all information returns required by
federal, state or local tax authorities.

    Section 5.7  Compliance with ERISA.  

    (a) The Borrower will, and will cause its Subsidiaries to, make all
contributions to any Employee Pension Plan when such contributions are due and
not incur any "accumulated funding deficiency" within the meaning of
Section 412(a) of the Code, whether or not waived, and will otherwise comply
with the requirements of the Code and ERISA with respect to the operation of all
Plans, except to the extent that the failure to so comply could not have a
Materially Adverse Effect.

    (b) The Borrower will, and will cause its Subsidiaries to, comply in all
respects with the requirements of COBRA with respect to any Plans subject to the
requirements thereof, except to the extent that the failure to so comply could
not have a Materially Adverse Effect.

    (c) The Borrower will furnish to the Administrative Agent (i) within thirty
(30) days after any officer of the Borrower obtains knowledge that a "prohibited
transaction" (within the meaning of Section 406 of ERISA or Section 4975 of the
Code) has occurred with respect to any Plan of the Borrower or its ERISA
Affiliates, including its Subsidiaries, that any Reportable Event has occurred
with respect to any Employee Pension Plan or that PBGC has instituted or will
institute proceedings under Title IV of ERISA to terminate any Employee Pension
Plan or to appoint a trustee to administer any Employee Pension Plan, a
statement setting forth the details as to such prohibited transaction,
Reportable Event or termination or appointment proceedings and the action which
it (or any other Employee Pension Plan sponsor if other than the Borrower)
proposes to take with respect thereto, together with a copy of the notice of
such Reportable Event given to PBGC if a copy of such notice is available to the
Borrower, any of its Subsidiaries or any of its ERISA Affiliates, (ii) promptly
after receipt thereof, a copy of any notice the Borrower, any of its
Subsidiaries or any of its ERISA

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Affiliates or the sponsor of any Plan receives from PBGC, or the Internal
Revenue Service or the Department of Labor which sets forth or proposes any
action or determination with respect to such Plan, (iii) promptly after the
filing thereof, any annual report required to be filed pursuant to ERISA in
connection with each Employee Pension Plan subject to Title IV of ERISA
maintained by the Borrower or any of its ERISA Affiliates, including the
Subsidiaries, and (iv) promptly upon the Administrative Agent's request
therefor, such additional information concerning any such Plan as may be
reasonably requested by the Administrative Agent.

    (d) The Borrower will promptly notify the Administrative Agent of any excise
taxes which have been assessed or, other than as described in subsection
(c) above, which the Borrower, any of its Subsidiaries or any of its ERISA
Affiliates has reason to believe may be assessed against the Borrower, any of
its Subsidiaries or any of its ERISA Affiliates by the Internal Revenue Service
or the Department of Labor with respect to any Plan of the Borrower or its ERISA
Affiliates, including its Subsidiaries.

    (e) Within the time required for notice to the PBGC under
Section 302(f)(4)(A) of ERISA or Section 412(m)(4) of the Code, as the case may
be, the Borrower will notify the Administrative Agent of any lien arising under
Section 302(f) of ERISA or Section 412(m) of the Code in favor of any Plan of
the Borrower or its ERISA Affiliates, including its Subsidiaries.

    (f)  The Borrower will not, and will not permit any of its Subsidiaries or
any of its ERISA Affiliates to take any of the following actions or permit any
of the following events to occur if such action or event together with all other
such actions or events would subject the Borrower, any of its Subsidiaries, or
any of its ERISA Affiliates to any tax, penalty, or other liabilities which
could have a Materially Adverse Effect:

    (1) engage in any transaction in connection with which the Borrower, any of
its Subsidiaries or any ERISA Affiliate could be subject to either a civil
penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by
Section 4975 of the Code;

    (2) terminate any Employee Pension Plan in a manner, or take any other
action, which could result in any liability of the Borrower, any of its
Subsidiaries or any ERISA Affiliate to the PBGC;

    (3) fail to make full payment when due of all amounts which, under the
provisions of any Employee Pension Plan, the Borrower, any of its Subsidiaries
or any ERISA Affiliate is required to pay as contributions thereto, or permit to
exist any accumulated funding deficiency within the meaning of Section 412(a) of
the Code, whether or not waived, with respect to any Employee Pension Plan;

    (4) permit the present value of all benefit liabilities under all Employee
Pension Plans which are subject to Title IV of ERISA to exceed the present value
of the assets of such Plans allocable to such benefit liabilities (within the
meaning of Section 4041 of ERISA), except as may be permitted under actuarial
funding standards adopted in accordance with Section 412 of the Code; or

    (5) requires the provision of security in favor of any Plan maintained by
the Borrower or its ERISA Affiliates, including its Subsidiaries under
Section 401(a)(29) of the Code.

    Section 5.8  Visits and Inspections.  The Borrower will, and will cause each
of its Subsidiaries to, permit representatives of the Administrative Agent and
any of the Lenders, upon reasonable notice, to (i) visit and inspect the
properties of the Borrower or any of its Subsidiaries during business hours,
(ii) inspect and make extracts from and copies of their respective books and
records, and (iii) discuss with their respective principal officers their
respective businesses, assets, liabilities, financial positions, results of
operations and business prospects. The Borrower will, and will cause each of its
Subsidiaries to, also permit representatives of the Administrative Agent and any
of the Lenders to discuss with their

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respective accountants the Borrower's and its Subsidiaries' businesses, assets,
liabilities, financial positions, results of operations and business prospects.

    Section 5.9  Payment of Indebtedness; Loans.  Subject to any provisions
herein or in any other Loan Document, the Borrower will, and will cause each of
its Subsidiaries to, pay any and all of their respective Indebtedness when and
as it becomes due or to the extent of trade payables of such Persons otherwise
in accordance with ordinary business practices customary for the wireless
communications industry, other than amounts diligently disputed in good faith
and for which adequate reserves have been set aside in accordance with GAAP.

    Section 5.10  Use of Proceeds.  The Borrower will use the aggregate proceeds
of all Advances under the Loans directly or indirectly:

    (a) to fund Capital Expenditures;

    (b) for working capital needs and other corporate purposes of the Borrower
and its Subsidiaries (including, without limitation, the fees and expenses
incurred in connection with the execution and delivery of this Agreement) which
do not otherwise conflict with this Section 5.10;

    (c) to fund the Saco River Acquisition in an aggregate amount not to exceed
$200,000,000 on substantially the terms and conditions set forth in the Saco
River Agreement and the fees and expenses incurred by the Borrower in connection
with the Saco River Acquisition;

    (d) to fund Acquisitions as permitted under Section 7.6(e) hereof;

    (e) to make Restricted Payments as permitted under Section 7.7 hereof; and

    (f)  to refinance the Borrower's existing bank debt.

No proceeds of Advances hereunder shall be used for the purchase or carrying or
the extension of credit for the purpose of purchasing or carrying, any margin
stock within the meaning of the Regulations.

    Section 5.11  Real Estate.  Subject to Section 7.14 hereof, the Borrower
will, and will cause its Subsidiaries to, grant a mortgage to the Administrative
Agent securing the Obligations or such amount thereof as is equal to the fair
market value of such real estate, in form and substance reasonably satisfactory
to the Administrative Agent, covering (a) any parcel of real estate not subject
to a Permitted Lien described in clause (i) of the definition thereof or covered
by the Headquarter's Mortgage having a fair market value, exclusive of equipment
acquired by the Borrower or any of its Subsidiaries after the Agreement Date,
the value of which exceeds $5,000,000 individually, and (b) all parcels of real
estate owned by the Borrower and its Subsidiaries not subject to a Permitted
Lien described in clause (i) of the definition thereof or covered by the
Headquarter's Mortgage at such time as the aggregate fair market value of all
such real estate equals or exceeds $20,000,000. The Borrower will, and will
cause its Subsidiaries to, deliver to the Administrative Agent all
documentation, including, without limitation, opinions of counsel and policies
of title insurance, which in the reasonable opinion of the Administrative Agent
are appropriate with each such grant, including any phase I environmental audit
requested by the Required Lenders. The Borrower and the Lenders hereby agree
that although the Headquarter's Mortgage will not be recorded on the Agreement
Date the Administrative Agent may, at the direction of the Required Lenders
after the occurrence and during the continuance of an Event of Default, cause
the Headquarter's Mortgage to be recorded in the appropriate jurisdiction and
further agree that upon becoming aware of any change in the recording tax in the
State of Minnesota such that the recording costs for the Headquarter's Mortgage
do not exceed $10,000, the Administrative Agent shall promptly cause the
Headquarter's Mortgage to be recorded in the appropriate jurisdiction. The
Borrower agrees to take any action including, without limitation, the execution
and delivery of any additional mortgage documents or amendments thereto as may
be necessary to permit the actions set forth in the preceding sentence. Any
recording taxes or fees paid by

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the Administrative Agent in connection with the Headquarter's Mortgage shall be
expenses hereunder and shall be subject to reimbursement under Sections 9.11 and
11.2 hereof.

    Section 5.12  Indemnity.  The Borrower agrees to indemnify and hold harmless
each Lender, the Swing Line Lender and the Administrative Agent, and each of
their respective affiliates, employees, representatives, shareholders, officers,
directors, trustees and advisors (any of the foregoing shall be an "Indemnitee")
from and against any and all claims, liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, reasonable attorneys', experts',
agents', consultants' fees and expenses (as such fees and expenses are incurred)
and demands by any party, including, without limitation, the costs of
investigating and defending such claims, whether or not the Borrower, any of its
Subsidiaries or the Person seeking indemnification is the prevailing party
(a) resulting from any breach or alleged breach by the Borrower or any of its
Subsidiaries of any representation or warranty made hereunder or under any other
Loan Document; or (b) otherwise arising out of (i) the Commitments, the Swing
Line Commitment or otherwise under this Agreement, any Loan Document or any
transaction contemplated hereby or thereby, including, without limitation, the
use of the proceeds of Loans hereunder in any fashion by the Borrower or the
performance of their respective obligations under the Loan Documents by the
Borrower or any of its Subsidiaries, (ii) allegations of any participation by
the Swing Line Lender, the Lenders or the Administrative Agent, or any of them,
in the affairs of the Borrower or any of its Subsidiaries, or allegations that
any of them has any joint liability with the Borrower or any of its Subsidiaries
arising out of the Commitments, the Swing Line Commitment or otherwise under
this Agreement or any Loan Document (or the rights of such Person arising
thereunder); (iii) any claims against the Swing Line Lender, the Lenders or the
Administrative Agent, or any of them, by any shareholder or other investor in or
lender to the Borrower or any Subsidiary of the Borrower, by any brokers or
finders or investment advisers or investment bankers retained by the Borrower or
by any other third party, arising out of the Commitments, the Swing Line
Commitment or otherwise under this Agreement; or (c) in connection with taxes
(not including federal or state income taxes or other taxes based solely upon
the revenues of such Persons), fees, and other charges payable in connection
with the Loans, or the execution, delivery, and enforcement of this Agreement,
the Security Documents, the other Loan Documents, any amendments thereto or
waivers of any of the provisions thereof; unless the Person seeking
indemnification hereunder is determined in such case to have acted with gross
negligence or willful misconduct, in any case, by a final, non-appealable
judicial order. The obligations of the Borrower under this Section 5.12 are in
addition to, and shall not otherwise limit, any liabilities which the Borrower
might otherwise have in connection with any warranties or similar obligations of
the Borrower in any other Loan Document.

    Section 5.13  Interest Rate Hedging.  Within ninety (90) days of the
Agreement Date and forty-five (45) days after each Advance, the Borrower shall
enter into (and shall at all times thereafter maintain) one or more Interest
Hedge Agreements with respect to the Borrower's interest obligations on not less
than fifty percent (50%) of the principal amount of the Loans outstanding from
time to time. Such Interest Hedge Agreements shall provide interest rate
protection in conformity with International Swap Dealers Association standards
and for an average period of at least three (3) years from the date of such
Interest Hedge Agreements or, if earlier, until the later of the Revolving Loan
Maturity Date, Term Loan A Maturity Date, Term Loan B Maturity Date, Term Loan C
Maturity Date or Incremental Facility Maturity Date on terms reasonably
acceptable to the Administrative Agent, such terms to include consideration of
the creditworthiness of the other party to the proposed Interest Hedge
Agreement. All Obligations of the Borrower to either Administrative Agent or any
of the Lenders (or any of their Affiliates) pursuant to any Interest Hedge
Agreement and all Liens granted to secure such Obligations shall rank pari passu
with all other Obligations and Liens securing such other Obligations up to the
then effective amount of the Commitments; and any Interest Hedge Agreement
between the Borrower and any other Person shall be unsecured.

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    Section 5.14  Covenants Regarding Formation of Subsidiaries and
Acquisitions; Partnership, Subsidiaries.  At the time of (i) any Acquisition
permitted hereunder or (ii) the formation of any new Subsidiary of the Borrower
or any of its Subsidiaries which is permitted under this Agreement, the Borrower
will, and will cause its Subsidiaries, as appropriate, to (a) provide to the
Administrative Agent an executed Subsidiary Security Agreement for such new
Subsidiary, in substantially the form of Exhibit I attached hereto, together
with appropriate UCC-1 financing statements, as well as an executed Subsidiary
Guaranty for such new Subsidiary, in substantially the form of Exhibit G
attached hereto, which shall constitute both Security Documents and Loan
Documents for purposes of this Agreement, as well as a loan certificate for such
new Subsidiary, substantially in the form of Exhibit O attached hereto, together
with appropriate attachments; (b) pledge to the Administrative Agent all of the
stock or partnership interests (or other instruments or securities evidencing
ownership) of such Subsidiary or Person which is acquired or formed,
beneficially owned by the Borrower or any of the Borrower's Subsidiaries, as the
case may be, as additional Collateral for the Obligations to be held by the
Administrative Agent in accordance with the terms of the Borrower's Pledge
Agreement, an existing Subsidiary Pledge Agreement, or a new Subsidiary Pledge
Agreement in substantially the form of Exhibit H attached hereto, and execute
and deliver to the Administrative Agent all such documentation for such pledge
as, in the reasonable opinion of the Administrative Agent, is appropriate; and
(c) provide revised financial projections for the remainder of the fiscal year
and for each subsequent year until the Revolving Loan Maturity Date, Term Loan A
Maturity Date, Term Loan B Maturity Date, Term Loan C Maturity Date and
Incremental Facility Maturity Date, as applicable which reflect such Acquisition
or formation, certified by the chief financial officer of the Borrower, together
with a statement by such Person that, to the knowledge of the Borrower, no
Default exists or would be caused by such Acquisition or formation, and all
other documentation, including one or more opinions of counsel, reasonably
satisfactory to the Administrative Agent which in its reasonable opinion is
appropriate with respect to such Acquisition or the formation of such
Subsidiary. Any document, agreement or instrument executed or issued pursuant to
this Section 5.14 shall be a Loan Document for purposes of this Agreement.

    Section 5.15  Payment of Wages.  The Borrower will, and will cause each of
its Subsidiaries to, at all times comply in all material respects with the
requirements of the Fair Labor Standards Act, as amended, including, without
limitation, the provisions of such Act relating to the payment of minimum and
overtime wages as the same may become due from time to time.

    Section 5.16  Further Assurances.  The Borrower will promptly cure, or cause
to be cured, defects in the creation and issuance of any of the Notes and the
execution and delivery of the Loan Documents (including, without limitation,
this Agreement), resulting from any acts or failure to act by the Borrower or
any of the Borrower's Subsidiaries or any employee or officer thereof. The
Borrower at its expense will promptly execute and deliver to the Administrative
Agent and the Lenders, or cause to be executed and delivered to the
Administrative Agent and the Lenders, all such other and further documents,
agreements, and instruments in compliance with or accomplishment of the
covenants and agreements of the Borrower in the Loan Documents, including this
Agreement, or to correct any omissions in the Loan Documents, or more fully to
state the obligations set out herein or in any of the Loan Documents, or to
obtain any consents, all as may be necessary or appropriate in connection
therewith and as may be reasonably requested.

ARTICLE 6

Information Covenants

    So long as any of the Obligations is outstanding and unpaid or the Lenders
have an obligation to fund Advances hereunder (whether or not the conditions to
borrowing have been or can be fulfilled)

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and unless the Required Lenders shall otherwise consent in writing, the Borrower
will furnish or cause to be furnished to each Lender and the Administrative
Agent, at their respective offices:

    Section 6.1  Quarterly Financial Statements and Information.  Within
forty-five (45) days after the last day of each of the first three (3) quarters
of each fiscal year of the Borrower, commencing with the quarter ending
March 31, 2000, the balance sheets of the Borrower on a consolidated and
consolidating basis with its Subsidiaries as at the end of such quarter and as
of the end of the preceding fiscal year, and the related statements of
operations and the related statements of cash flows of the Borrower on a
consolidated and consolidating basis with its Subsidiaries for such quarter and
for the elapsed portion of the year ended with the last day of such quarter,
which shall set forth in comparative form such figures as at the end of and for
such quarter and appropriate prior period and shall be certified by the chief
financial officer, the president or the chief operating officer of the Borrower
to have been prepared in accordance with GAAP and to present fairly in all
material respects the financial position of the Borrower on a consolidated and
consolidating basis with its Subsidiaries as at the end of such period and the
results of operations for such period, and for the elapsed portion of the year
ended with the last day of such period, subject only to normal year-end and
audit adjustments.

    Section 6.2  Annual Financial Statements and Information.  Within one
hundred twenty (120) days after the end of each fiscal year of the Borrower, the
audited consolidated balance sheet of the Borrower and its Subsidiaries as of
the end of such fiscal year and the related audited consolidated and unaudited
consolidating statements of operations for such fiscal year and for the previous
fiscal year, the related audited consolidated statements of cash flow and
stockholders' equity for such fiscal year and for the previous fiscal year,
which shall be accompanied by an opinion, which opinion shall be in scope and
substance reasonably satisfactory to the Administrative Agent, of independent
certified public accountants of recognized national standing acceptable to the
Administrative Agent, together with a statement of such accountants that in
connection with their audit, nothing came to their attention that caused them to
believe that the Borrower was not in compliance with the terms, covenants,
provisions or conditions of Articles 7 and 8 hereof insofar as they relate to
accounting matters.

    Section 6.3  Performance Certificates.  At the time the financial statements
are furnished pursuant to Sections 6.1 and 6.2, a certificate of the president
or chief financial officer of the Borrower as to its financial performance, in
substantially the form attached hereto as Exhibit R:

    (a) setting forth as and at the end of such quarterly period or fiscal year,
as the case may be, the arithmetical calculations required to establish (i) any
adjustment to the Applicable Margins, as provided for in Section 2.3(f) hereof,
and (ii) whether or not the Borrower was in compliance with the requirements of
Sections 7.8, 7.9, 7.10, 7.11 and 7.12 hereof;

    (b) setting forth on a consolidated basis for the Borrower and its
Subsidiaries for each such fiscal quarter (i) the number of subscribers at the
beginning of the quarter, (ii) the number of gross new subscribers added and
deactivated subscribers lost during the quarter, and (iii) the number of
subscribers at the end of the quarter; and

    (c) stating that, to the best of his or her knowledge, no Default has
occurred as at the end of such quarterly period or year, as the case may be, or,
if a Default has occurred, disclosing each such Default and its nature, when it
occurred, whether it is continuing and the steps being taken by the Borrower
with respect to such Default.

    Section 6.4  Copies of Other Reports.  

    (a) Promptly upon receipt thereof, copies of all reports, if any, submitted
to the Borrower by the Borrower's independent public accountants regarding the
Borrower, including, without limitation, any management report prepared in
connection with the annual audit referred to in Section 6.2 hereof.

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    (b) Promptly upon receipt thereof, copies of any material adverse notice or
report regarding any License from the FCC.

    (c) From time to time and promptly upon each request, such data,
certificates, reports, statements, documents or further information regarding
the business, assets, liabilities, financial position, projections, results of
operations or business prospects of the Borrower or any of its Subsidiaries, as
the Administrative Agent or any Lender may reasonably request.

    (d) Annually, within ninety (90) days of the last day of each fiscal year of
the Borrower, certificates of insurance indicating that the requirements of
Section 5.5 hereof remain satisfied for such fiscal year, together with copies
of any new or replacement insurance policies obtained during such year.

    (e) Prior to January 31st of each year, the annual budget for the Borrower
and the Borrower's Subsidiaries, including, without limitation, forecasts of the
income statement, the balance sheet and a cash flow statement for such year, on
a quarter by quarter basis.

    (f)  Promptly after the sending thereof, copies of all statements, reports
and other information which the Borrower or any of its Subsidiaries sends to
security holders of the Borrower generally or files with the Securities and
Exchange Commission or any national securities exchange.

    Section 6.5  Notice of Litigation and Other Matters.  Notice specifying the
nature and status of any of the following events, promptly, but in any event not
later than fifteen (15) days (or, in the case of Section 6.5(d) hereof, ten
(10) days) after the occurrence of any of the following events becomes known to
the Borrower or any of its Subsidiaries:

    (a) the commencement of all proceedings and investigations by or before any
governmental body and all actions and proceedings in any court or before any
arbitrator against, or to the extent known to the Borrower or any of its
Subsidiaries, in any other way relating materially adversely to the Borrower or
any of its Subsidiaries, or any of their respective properties, assets or
businesses or any License;

    (b) any material adverse change with respect to the business, assets,
liabilities, financial position, results of operations or business prospects of
the Borrower or any of its Subsidiaries other than changes in the ordinary
course of business which have not had and would not reasonably be expected to
have a Materially Adverse Effect and other changes in the industry in which
either the Borrower or any of its Subsidiaries operate which would not
reasonably be expected to have a Materially Adverse Effect;

    (c) any material adverse amendment or change to the financial projections or
annual budget provided to the Lenders by the Borrower;

    (d) any Default or the occurrence or non-occurrence of any event (i) which
constitutes, or which with the passage of time or giving of notice or both would
constitute a default by the Borrower or any of its Subsidiaries under any
material agreement other than this Agreement and the other Loan Documents to
which the Borrower or any of its Subsidiaries is party or by which any of their
respective properties may be bound, or (ii) which could have a Materially
Adverse Effect, giving in each case a detailed description thereof and
specifying the action proposed to be taken with respect thereto;

    (e) the occurrence of any Reportable Event or a "prohibited transaction" (as
such term is defined in Section 406 of ERISA or Section 4975 of the Code) with
respect to any Plan of the Borrower or any of its Subsidiaries or the
institution or threatened institution by PBGC of proceedings under ERISA to
terminate or to partially terminate any such Plan or the commencement or
threatened commencement of any litigation regarding any such Plan or naming it
or the trustee of any such Plan with respect to such Plan or any action taken by
the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate of the
Borrower to withdraw or partially withdraw from any Plan or to terminate any
Plan; and

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    (f)  the occurrence of any event subsequent to the Agreement Date which, if
such event had occurred prior to the Agreement Date, would have constituted an
exception to the representation and warranty in Section 4.1(m) hereof.

ARTICLE 7

Negative Covenants

    So long as any of the Obligations is outstanding and unpaid or the Lenders
have an obligation to fund Advances hereunder (whether or not the conditions to
borrowing have been or can be fulfilled) and unless the Required Lenders, or
such greater number of Lenders as may be expressly provided herein, shall
otherwise give their prior consent in writing:

    Section 7.1  Indebtedness of the Borrower and its Subsidiaries.  The
Borrower shall not, and shall not permit any of its Subsidiaries to, create,
assume, incur or otherwise become or remain obligated in respect of, or permit
to be outstanding, any Indebtedness except:

    (a) the Obligations;

    (b) operating accounts payable, accrued expenses and customer advance
payments and accrued Plan contributions incurred in the ordinary course of
business;

    (c) Indebtedness secured by Permitted Liens;

    (d) obligations under Interest Hedge Agreements with respect to the Loans;

    (e) Indebtedness of the Borrower, or of any of its Subsidiaries to the
Borrower or any other Subsidiary, so long as the corresponding debt instruments
are pledged to the Administrative Agent as security for the Obligations and
Indebtedness expressly permitted pursuant to Section 7.5 hereof;

    (f)  the Incremental Facility;

    (g) (i) secured Indebtedness of the Borrower which does not exceed
$10,000,000 in the aggregate at any one time outstanding, and/or (ii) unsecured
Indebtedness of the Borrower which does not exceed $25,000,000 in the aggregate
at any one time outstanding; provided, however, that the sum of (1) the
aggregate amount of secured Indebtedness permitted pursuant to this
Section 7.1(g), plus (2) the aggregate amount of unsecured Indebtedness
permitted pursuant to this Section 7.1(g) shall not exceed $25,000,000 in the
aggregate at any one time outstanding, on terms and conditions reasonably
satisfactory to the Administrative Agent;

    (h) Subordinated Indebtedness and Preferred Stock;

    (i)  Indebtedness which does not exceed $5,000,000 in the aggregate at any
one time outstanding; provided, however, that such Indebtedness is (i) purchase
money Indebtedness of the Borrower or any of its Subsidiaries that is incurred
or assumed to finance part or all of (but not more than) the purchase price of a
tangible asset in which neither the Borrower nor such Subsidiary had at any time
prior to such purchase any interest other than a security interest or an
interest as lessee under an operating lease, or (ii) Capitalized Lease
Obligations.

    Section 7.2  Limitation on Liens.  The Borrower shall not, and shall not
permit any of its Subsidiaries to, create, assume, incur or permit to exist or
to be created, assumed, incurred or permitted to exist, directly or indirectly,
any Lien on any of its properties or assets, whether now owned or hereafter
acquired, except for Permitted Liens.

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    Section 7.3  Amendment and Waiver.  The Borrower shall not, and shall not
permit any of its Subsidiaries to, (a) without the consent of the Required
Lenders, enter into any amendment of, or agree to or accept or consent to any
waiver of any of the material provisions of, as applicable, (i) its articles or
certificate of incorporation or partnership agreement, (ii) its by-laws or
membership agreement, (iii) the membership agreement of Wireless Alliance,
(iv) the Subordinated Notes (or the related indenture) or (v) the Preferred
Stock (or the related indentures) or (b) without the consent of the
Administrative Agent, the Saco River Agreement.

    Section 7.4  Liquidation, Merger, or Disposition of Assets.  

    (a)  Disposition of Assets.  The Borrower shall not, and shall not permit
any of its Subsidiaries to, at any time sell, lease, abandon, or otherwise
dispose of any assets (other than assets disposed of in the ordinary course of
business) without the prior written consent of the Lenders; provided, however,
that the prior written consent of the Lenders shall not be required for (i) the
transfer of assets (including, without limitation, cash or cash equivalents)
among the Borrower and its Subsidiaries (excluding Wireless Alliance) or for the
transfer of assets (including, without limitation, cash or cash equivalents, but
excluding the Licenses) between or among Subsidiaries (excluding Wireless
Alliance) of the Borrower, (ii) dispositions of assets the proceeds of which are
applied pursuant to Section 2.5(c) or 2.7(b)(vi) hereof (provided, however,
that, with respect to such sales under Section 2.5(c) or 2.7(b)(vi), the
Borrower provides to the Administrative Agent and the Lenders on the date of
such sale a certificate reflecting compliance with the terms and provisions of
Sections 7.8, 7.9, 7.10, 7.11 and 7.12 hereof both before and after giving
effect to such sale or transfer) or (iii) the Borrower or any of its
Subsidiaries may enter into sale/leaseback transactions with respect to its
cellular towers so long as the documentation for any such sale/ leaseback or
similar arrangement is approved as to form by the Administrative Agent (such
approval not to be unreasonably withheld).

    (b)  Liquidation or Merger.  The Borrower shall not, and shall not permit
any of its Subsidiaries to, at any time liquidate or dissolve itself (or suffer
any liquidation or dissolution) or otherwise wind up, or enter into any merger,
other than (i) a merger or consolidation among the Borrower and one or more
Subsidiaries; provided, however, that the Borrower is the surviving corporation,
or (ii) a merger between or among two or more Subsidiaries, or (iii) in
connection with an Acquisition permitted hereunder effected by a merger in which
the Borrower or, in a merger in which the Borrower is not a party, a Subsidiary
of the Borrower is the surviving corporation.

    Section 7.5  Limitation on Guaranties.  The Borrower shall not, and shall
not permit any of its Subsidiaries to, at any time Guaranty, assume, be
obligated with respect to, or permit to be outstanding any Guaranty of, any
obligation of any other Person other than (a) a guaranty by endorsement of
negotiable instruments for collection in the ordinary course of business,
(b) obligations under agreements of the Borrower or any of its Subsidiaries
entered into in connection with leases of real property or the acquisition of
services, supplies and equipment in the ordinary course of business of the
Borrower or any of its Subsidiaries, (c) Guaranties of Indebtedness incurred as
permitted pursuant to Section 7.1 hereof (other than Section 7.1(h) hereof),
(d) as may be contained in any Loan Document, including, without limitation, the
Subsidiary Guaranty or (e) in its capacity as a general partner in any of its
Subsidiaries.

    Section 7.6  Investments and Acquisitions.  The Borrower shall not, and
shall not permit any of its Subsidiaries to, directly or indirectly, make any
loan or advance, or otherwise acquire for consideration evidences of
Indebtedness, capital stock or other securities of any Person or other assets or
property (other than assets or property in the ordinary course of business), or
make any Acquisition or Investment; provided, however, that:

    (a) The Borrower or any of its Subsidiaries may, directly or through a
brokerage account, (i) purchase marketable, direct obligations of the United
States of America, its agencies and instrumentalities maturing within three
hundred sixty-five (365) days of the date of purchase,

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(ii) purchase commercial paper, money-market funds and business savings accounts
issued by corporations, each of which shall have a combined net worth of at
least $100,000,000 and each of which conducts a substantial part of its business
in the United States of America, maturing within two hundred seventy (270) days
from the date of the original issue thereof, and rated "P-2" or better by
Moody's Investors Service, Inc. or "A-2" or better by Standard and Poor's
Ratings Group, a division of McGraw-Hill, Inc., and (iii) purchase repurchase
agreements, bankers' acceptances, and certificates of deposit maturing within
three hundred sixty-five (365) days of the date of purchase which are issued by,
or time deposits maintained with, a United States national or state bank the
deposits of which are insured by the Federal Deposit Insurance Corporation or
the Federal Savings and Loan Insurance Corporation and having capital, surplus
and undivided profits totaling more than $100,000,000 and rated "A" or better by
Moody's Investors Service, Inc. or Standard and Poor's Ratings Group, a division
of McGraw-Hill, Inc.;

    (b) So long as no Default then exists or would be caused thereby, and
subject to compliance with Section 5.14 hereof, the Borrower or any of its
Subsidiaries may complete the following Acquisitions: (i) the Saco River
Acquisition to be consummated on substantially the terms and conditions set
forth in the Saco River Agreement; and (ii) from the Agreement Date,
Acquisitions in the aggregate not to exceed $150,000,000 (including reasonable
and customary costs and expenses related to such Acquisitions) of not less than
fifty and one one-hundredth percent (50.01%) of the ownership interest (after
giving effect to any ownership interest acquired on or prior to the date of such
Acquisition as permitted hereunder) in Cellular Systems, or the right to
construct a Cellular System (including, without limitation, associated
construction costs), in an RSA or an MSA or a BTA (in the case of a PCS System)
which is primarily within the same geographic area as or contiguous to a
Cellular System then owned by the Borrower or any of its Subsidiaries;

    (c) So long as no Default then exists or would be caused thereby, the
Borrower or any of its Subsidiaries may make Investments in an aggregate amount
not to exceed $50,000,000, in Cellular Systems, or the right to construct a
Cellular System (including without limitation, associated construction costs),
in an RSA or an MSA or a BTA (in the case of a PCS System) which is primarily
within the same geographic area as or contiguous to a Cellular System then owned
by the Borrower or any of its Subsidiaries, Capital Expenditures and general
working capital purposes without the consent of the Lenders; provided, however,
that (i) prior to making such Investment, the Borrower shall deliver to the
Administrative Agent and the Lenders a certificate reflecting pro forma
projections and compliance with the terms and conditions of this Agreement from
the date of such Acquisition through the Revolving Loan Maturity Date, Term Loan
A Maturity Date, Term Loan B Maturity Date, Term Loan C Maturity Date and
Incremental Facility Maturity Date, as applicable after giving effect to such
Investment and using reasonable assumptions in the opinion of the Required
Lenders; (ii) in the case of any equity investment, any equity interests
received in connection with such Investment are pledged as Collateral for the
Obligations; and (iii) in the case of any loan or extension of Indebtedness,
such loan is evidenced by a promissory note which is assigned as Collateral for
the Obligations;

    (d) So long as no Default then exists or would be caused thereby, the
Borrower or any of its Subsidiaries may make Investments in Wireless Alliance in
an aggregate amount not to exceed $50,000,000 (which amount shall include,
without limitation, any Investment in Wireless Alliance made prior to the
Agreement Date, but exclude Acquisitions made pursuant to Section 7.6(b) hereof
and Investments made pursuant to Section 7.6(e) hereof); provided, however, that
(i) in the case of any equity investment, any equity interests received in
connection with such Investment are pledged as Collateral for the Obligations
and (ii) in the case of any loan or extension of Indebtedness, such loan is
evidenced by a promissory note which is assigned as Collateral for the
Obligations;

    (e) except so long as no Default then exists or would be caused thereby,
subject to compliance with Section 5.14 hereof, the Borrower may issue equity
interests in the Borrower in exchange for ownership interests in any Person
operating a Cellular System; provided however to the extent that the

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Borrower has acquired less than or equal to fifty percent (50%) of the total
ownership interests in such Person, no such acquired ownership interest subjects
the Borrower to any obligation to fund additional capital or otherwise make any
Investment (in cash or otherwise) in such Person; and

    (f)  During such time as any Cooperative Lender shall be a Lender, the
Borrower may purchase such non-voting equity interests in such Cooperative
Lender represented by participation certificates of such Cooperative Lender as
such Cooperative Lender may from time to time require in accordance with such
Cooperative Lender's bylaws and "Loan-Based Capital Plan." Each Cooperative
Lender shall have a statutory first Lien on the equity in such Cooperative
Lender to secure all obligations of the Borrower to such Cooperative Lender, and
such Lien shall be deemed to constitute a Permitted Lien hereunder. No
Cooperative Lender shall be obligated to set off or otherwise apply such
equities to the Borrower's obligations to the Cooperative Lender.

    Section 7.7  Restricted Payments and Purchases.  The Borrower shall not, and
shall not permit any of its Subsidiaries to, directly or indirectly, declare or
make any Restricted Payment or Restricted Purchase; provided, however, that so
long as no Default hereunder then exists or would be caused thereby, (a) and so
long as a Subsidiary of the Borrower is not obligated on any Indebtedness to the
Borrower or any of its Subsidiaries, such Subsidiary may make distributions to
(i) any partner or shareholder of such Subsidiary holding a minority position
with respect to such Subsidiary, so long as such Subsidiary makes a
contemporaneous pro rata distribution to the Borrower or any of its
Subsidiaries, and such partner or shareholder is not an Affiliate of the
Borrower, (ii) the Borrower or any of its Subsidiaries, (b) the Borrower may
make scheduled interest payments, when such payments are due and payable, on any
Subordinated Indebtedness to the extent such Subordinated Indebtedness has
scheduled payments permitted hereunder in accordance with any subordination
provisions thereunder, (c) the Borrower may make scheduled dividend payments,
when such payments are due and payable on any Preferred Stock to the extent such
Preferred Stock has scheduled dividend payments permitted hereunder in
accordance with any subordination provisions thereunder and (d) the Borrower may
repay in whole or in part the Junior Preferred Stock pursuant to
Section 2.7(b)(vi) hereunder.

    Section 7.8  Total Leverage Ratio.  (a) As of the end of any calendar
quarter, and (b) at the time of any Advance hereunder (after giving effect to
such Advance), the Borrower shall not permit its Total Leverage Ratio to exceed
the ratios set forth below during the periods indicated:

Period

--------------------------------------------------------------------------------

  Total Leverage Ratio

--------------------------------------------------------------------------------

Agreement Date through
June 30, 2000   8.50:1.00  
July 1, 2000 through
December 31, 2000  
   
7.50:1.00  
January 1, 2001 through
June 30, 2001  
   
7.25:1.00  
July 1, 2001 through
December 31, 2001  
   
6.50:1.00  
January 1, 2002 through
December 31, 2002  
   
6.00:1.00  
January 1, 2003 and thereafter  
   
5.00:1.00

    Notwithstanding anything herein to the contrary, the Total Leverage Ratio on
the Agreement Date shall (after giving effect to the initial Advances hereunder)
be less than or equal to 8.00 to 1.00.

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    Section 7.9  Senior Leverage Ratio.  (a) As of the end of any calendar
quarter, and (b) at the time of any Advance hereunder (after giving effect to
such Advance), the Borrower shall not permit the ratio of (i) the principal
amount of the Loans outstanding on such date to (ii) its Annualized Operating
Cash Flow (as of the calendar quarter end being tested, or as of the most
recently completed calendar quarter for which financial statements are required
to have been delivered pursuant to Section 6.1 or 6.2 hereof, as the case may
be) to exceed the ratios set forth below during the periods indicated:

Period

--------------------------------------------------------------------------------

  Senior Leverage Ratio

--------------------------------------------------------------------------------

Agreement Date through
June 30, 2000   7.50:1.00  
July 1, 2000 through
December 31, 2000  
   
7.00:1.00  
January 1, 2001 through
June 30, 2001  
   
6.25:1.00  
July 1, 2001 through
December 31, 2001  
   
5.50:1.00  
January 1, 2002 through
December 31, 2002  
   
5.00:1.00  
January 1, 2003 and thereafter  
   
4.50:1.00

    Section 7.10  Annualized Operating Cash Flow to Pro Forma Debt
Service.  (a) As of the end of any calendar quarter, and (b) at the time of any
Advance hereunder (after giving effect to such Advance), the Borrower shall not
permit the ratio of (i) its Annualized Operating Cash Flow (as of the calendar
quarter end being tested, or as of the most recently completed calendar quarter
for which financial statements are required to have been delivered pursuant to
Section 6.1 or 6.2 hereof, as the case may be) to (ii) the sum of (A) its Pro
Forma Debt Service for the four (4) calendar quarters immediately following the
calculation date and (B) Interest Expense for the four (4) calendars quarters
immediately preceding the calculation date, to be less than 1.20 to 1.00.

    Section 7.11  Annualized Operating Cash Flow to Interest Expense.  (a) As of
the end of any calendar quarter, and (b) at the time of any Advance hereunder
(after giving effect to such Advance), the Borrower shall not permit the ratio
of (i) its Annualized Operating Cash Flow (as of the calendar quarter end being
tested, or as of the most recently completed calendar quarter for which
financial statements are required to have been delivered pursuant to Section 6.1
or 6.2 hereof, as the case may be) to (ii) its Interest Expense for the twelve
(12) calendar months immediately preceding the calculation date to be less than
the ratios set forth below for the periods indicated:

Period

--------------------------------------------------------------------------------

  Annualized Operating Cash
Flow to Interest Expense

--------------------------------------------------------------------------------

Agreement Date through
June 30, 2000   1.25:1.00  
July 1, 2000 through
June 30, 2001  
   
1.50:1.00  
July 1, 2001 and thereafter  
   
2.00:1.00  
   
   
 

    Section 7.12  Fixed Charge Coverage Ratio  (a) As of the end of any calendar
quarter, and (b) at the time of any Advance hereunder (after giving effect to
such Advance), the Borrower shall not permit the ratio of (i) its Annualized
Operating Cash Flow (as of the calendar quarter end being tested, or as

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of the most recently completed calendar quarter for which financial statements
are required to have been delivered pursuant to Section 6.1 or 6.2 hereof, as
the case maybe) to (ii) the sum of, without duplication, for the twelve
(12) calendar months preceding the calculation date (A) Capital Expenditures
made during such period plus (B) Debt Service for such period plus
(C) Restricted Payments made during such period to be less than 1.00:1.00.

    Section 7.13  Affiliate Transactions.  Except as specifically provided
herein and as may be described on Schedule 6 attached hereto, the Borrower shall
not, and shall not permit any of its Subsidiaries to, at any time engage in any
transaction with an Affiliate, or make an assignment or other transfer of any of
its properties or assets to any Affiliate, on terms less advantageous to the
Borrower or such Subsidiary than would be the case if such transaction had been
effected with a non-Affiliate.

    Section 7.14  Real Estate.  The Borrower shall not, and shall cause each of
its Subsidiaries not to, purchase real estate; provided, however, that subject
to Section 5.11 hereof, the Borrower and each of its Subsidiaries may purchase
real estate solely for use in the business of the Borrower and its Subsidiaries.

    Section 7.15  ERISA Liabilities.  The Borrower shall not, and shall cause
each of its ERISA Affiliates not to, (i) permit the assets of any of their
respective Employee Pension Plans to be less than the amount necessary to
provide all accrued benefits under such Plans, or (ii) enter into any
Multiemployer Plan.

ARTICLE 8

Default

    Section 8.1  Events of Default.  Each of the following shall constitute an
Event of Default, whatever the reason for such event and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any
judgment or order of any court or any order, rule or regulation of any
governmental or non-governmental body:

    (a) Any representation or warranty made under this Agreement or any other
Loan Document shall prove incorrect or misleading in any material respect when
made or deemed to be made pursuant to Section 4.2 hereof;

    (b) The Borrower shall default in the payment of: (i) any interest under any
of the Notes (or Incremental Facility Notes) or fees or other amounts payable to
the Lenders, the Swing Line Lender and the Administrative Agent under any of the
Loan Documents, or any of them, when due, and such Default shall not be cured by
payment in full within five (5) Business Days from the due date; or (ii) any
principal under any of the Notes (or Incremental Facility Notes) when due;

    (c) The Borrower shall default (i) in the performance or observance of any
agreement or covenant contained in Sections 5.2(a), 5.10, 6.5, 7.1, 7.2 (if the
event causing such default is consensual in nature), 7.4, 7.5, 7.6, 7.7, 7.8,
7.9, 7.10, 7.11, and 7.12 hereof; or (ii) in providing any financial statement
or report under Article 6 hereof, and, with respect to this clause (ii) only,
such Default shall not be cured by delivery thereof within a period of fifteen
(15) days from the later of (x) occurrence of such Default and (y) the date on
which such Default became known to the Borrower;

    (d) The Borrower shall default in the performance or observance of any other
agreement or covenant contained in this Agreement not specifically referred to
elsewhere in this Section 8.1, and such default shall not be cured within a
period of thirty (30) days from the later of (i) occurrence of such default and
(ii) the date on which such default became known to the Borrower;

    (e) There shall occur any default in the performance or observance of any
agreement or covenant or breach of any representation or warranty contained in
any of the Loan Documents (other than this Agreement or as otherwise provided in
this Section 8.1) by the Borrower, any of its Subsidiaries, or any

55

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other obligor thereunder, which shall not be cured within a period of thirty
(30) days from the later of (i) occurrence of such default and (ii) the date on
which such default became known to the Borrower;

    (f)  There shall be entered and remain unstayed a decree or order for relief
in respect of the Borrower or any of its Subsidiaries under Title 11 of the
United States Code, as now constituted or hereafter amended, or any other
applicable federal or state bankruptcy law or other similar law, or appointing a
receiver, liquidator, assignee, trustee, custodian, sequestrator or similar
official of the Borrower or any of its Subsidiaries, or of any substantial part
of their respective properties, or ordering the winding-up or liquidation of the
affairs of the Borrower or any of its Subsidiaries; or an involuntary petition
shall be filed against the Borrower or any of its Subsidiaries and a temporary
stay entered, and (i) such petition and stay shall not be diligently contested,
or (ii) any such petition and stay shall continue undismissed for a period of
sixty (60) consecutive days;

    (g) The Borrower or any of its Subsidiaries shall file a petition, answer or
consent seeking relief under Title 11 of the United States Code, as now
constituted or hereafter amended, or any other applicable federal or state
bankruptcy law or other similar law, or the Borrower or any of its Subsidiaries
shall consent to the institution of proceedings thereunder or to the filing of
any such petition or to the appointment or taking of possession of a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official
of the Borrower or any of its Subsidiaries or of any substantial part of their
respective properties, or the Borrower or any of its Subsidiaries shall fail
generally to pay their respective debts as they become due or shall be
adjudicated insolvent; the Borrower shall suspend or discontinue its business;
the Borrower or any of its Subsidiaries shall have concealed, removed any of its
property with the intent to hinder or defraud its creditors or shall have made a
fraudulent or preferential transfer under any applicable fraudulent conveyance
or bankruptcy law, or the Borrower or any of its Subsidiaries shall take any
action in furtherance of any such action;

    (h) A judgment not covered by insurance or indemnification, where the
indemnifying party has agreed to indemnify and is financially able to do so,
shall be entered by any court against the Borrower or any of its Subsidiaries
for the payment of money which exceeds singly or in the aggregate with other
such judgments, $5,000,000, or a warrant of attachment or execution or similar
process shall be issued or levied against property of the Borrower or any of its
Subsidiaries which, together with all other such property of the Borrower or any
of its Subsidiaries subject to other such process, exceeds in value $5,000,000
in the aggregate, and if, within thirty (30) days after the entry, issue or levy
thereof, such judgment, warrant or process shall not have been paid or
discharged or stayed pending appeal or removed to bond, or if, after the
expiration of any such stay, such judgment, warrant or process shall not have
been paid or discharged or removed to bond;

    (i)  (i) There shall be at any time any "accumulated funding deficiency," as
defined in ERISA or in Section 412 of the Code, with respect to any Plan
maintained by the Borrower or any of its Subsidiaries or any ERISA Affiliate, or
to which the Borrower or any of its Subsidiaries or any ERISA Affiliate has any
liabilities, or any trust created thereunder; or a trustee shall be appointed by
a United States District Court to administer any such Plan; or (ii) PBGC shall
institute proceedings to terminate any such Plan; or (iii) the Borrower or any
of its Subsidiaries or any ERISA Affiliate shall incur any liability to PBGC in
connection with the termination of any such Plan; or (iv) any Plan or trust
created under any Plan of the Borrower or any of its Subsidiaries or any ERISA
Affiliate shall engage in a "prohibited transaction" (as such term is defined in
Section 406 of ERISA or Section 4975 of the Code) which would subject any such
Plan, any trust created thereunder, any trustee or administrator thereof, or any
party dealing with any such Plan or trust to the tax or penalty on "prohibited
transactions" imposed by Section 502 of ERISA or Section 4975 of the Code which
has or could be reasonably likely to have a Materially Adverse Effect and which
is not cured to the reasonable satisfaction of the Required Lenders within
thirty (30) days from the later of (A) the occurrence of such event or (B) the
date on which such event became known to the Borrower; or (v) the Borrower or

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any of its Subsidiaries or any ERISA Affiliate shall adopt or otherwise
contribute to a Multiemployer Plan.

    (j)  Any event not referred to elsewhere in this Section 8.1 shall occur
which has a Materially Adverse Effect and such event shall not be cured within a
period of thirty (30) days from the later of (i) occurrence of such event and
(ii) the date on which such event became known to the Borrower or any of its
Subsidiaries;

    (k) There shall occur (i) any acceleration of the maturity of any
Indebtedness of the Borrower or any of its Subsidiaries in an aggregate
principal amount exceeding $5,000,000, or, as a result of a failure to comply
with the terms thereof, such Indebtedness shall otherwise become due and
payable; (ii) any event or condition the occurrence of which would permit such
acceleration of such Indebtedness, or which, as a result of a failure to comply
with the terms thereof, would make such Indebtedness otherwise due and payable,
and which event or condition has not been cured within any applicable cure
period or waived in writing prior to any declaration of an Event of Default or
acceleration of the Loans hereunder; or (iii) any material default under any
Interest Hedge Agreement which would permit the obligation of the Borrower to
make payments to the counterparty thereunder to be then due and payable;

    (l)  The FCC shall deliver to the Borrower or any of its Subsidiaries an
order to show cause why an order of revocation should not be issued based upon
any alleged attribution of alien ownership (within the meaning of 47 U.S.C. §
310(b) and any interpretation of the FCC thereunder) to the Borrower or any of
its Subsidiaries and (i) such order shall not have been rescinded within thirty
(30) days after such delivery or (ii) in the reasonable judgment of the Required
Lenders, proceedings by or before the FCC related to such order are reasonably
likely to result in one or more orders of revocation and would constitute an
Event of Default under Section 8.1(m) hereof;

    (m) One or more Licenses shall be terminated or revoked or substantially
adversely modified such that the Borrower and its Subsidiaries are no longer
able to operate the related Cellular System or Systems or portions thereof and
retain the revenue received therefrom or any such License shall fail to be
renewed at the stated expiration thereof such that the Borrower and its
Subsidiaries are no longer able to operate the related Cellular System or
Systems or portions thereof and retain the revenue received therefrom, and the
overall effect of such termination, revocation or failure to renew would be to
reduce Operating Cash Flow (determined as at the last day of the most recently
ended fiscal year of the Borrower) by ten percent (10%) or more;

    (n) Any "person" or "group" (within the meaning of Sections 13(d)(3) and
14(d)(2) of the Exchange Act or any successor provision to either of the
foregoing, including any group acting for the purpose of acquiring, holding or
disposing of securities within the meaning of Rule 13d-5(b)(1) under the
Exchange Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of fifty percent (50%) or more
of the voting or economic Capital Stock of the Borrower;

    (o) Any Loan Document or any material provision thereof, shall at any time
and for any reason be declared by a court of competent jurisdiction to be null
and void, or a proceeding shall be commenced by the Borrower or any of its
Subsidiaries or by any governmental authority having jurisdiction over the
Borrower or any of its Subsidiaries seeking to establish the invalidity or
unenforceability thereof (exclusive of questions of interpretation of any
provision thereof), or the Borrower or any of its Subsidiaries shall deny that
it has any liability or obligation for the payment of principal or interest
purported to be created under any Loan Document; or

    (p) Any Security Document shall for any reason, fail or cease (except by
reason of lapse of time) to create a valid and perfected and first-priority Lien
on or Security Interest in any portion of the Collateral purported to be covered
thereby.

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    Section 8.2  Remedies.  

    (a) If an Event of Default specified in Section 8.1 (other than an Event of
Default under Section 8.1(f) or (g) hereof) shall have occurred and shall be
continuing, the Administrative Agent, at the request of the Required Lenders
subject to Section 9.8(a) hereof, shall (i) terminate the Commitments, the Swing
Line Commitment and the Incremental Facility Commitment, and/or (ii) declare the
principal of and interest on the Loans and the Notes and the Incremental
Facility Notes, and all other amounts owed to the Lenders, the Swing Line Lender
and the Administrative Agent under this Agreement, the Notes and the Incremental
Facility Notes, and any other Loan Documents to be forthwith due and payable
without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived, anything in this Agreement, the Notes and the
Incremental Facility Notes, or any other Loan Document to the contrary
notwithstanding, and the Commitment, the Swing Line Commitment and the
Incremental Facility Commitment shall thereupon forthwith terminate.

    (b) Upon the occurrence and continuance of an Event of Default specified in
Section 8.1(f) or (g) hereof, all principal, interest and other amounts due
hereunder and under the Notes and the Incremental Facility Notes, and all other
Obligations, shall thereupon and concurrently therewith become due and payable
and the Commitment and the Incremental Facility Commitment shall forthwith
terminate and the principal amount of the Loans outstanding hereunder shall bear
interest at the Default Rate, all without any action by the Administrative
Agent, the Swing Line Lender, the Lenders, or the Required Lenders, or any of
them and without presentment, demand, protest or other notice of any kind, all
of which are expressly waived, anything in this Agreement or in the other Loan
Documents to the contrary notwithstanding.

    (c) Upon acceleration of the Notes and, if applicable, the Incremental
Facility Notes as provided in subsection (a) or (b) of this Section 8.2, above,
the Administrative Agent and the Lenders shall have all of the post-default
rights granted to them, or any of them, as applicable under the Loan Documents
and under Applicable Law.

    (d) Upon acceleration of the Notes and the Incremental Facility Notes, as
provided in subsection (a) or (b) of this Section 8.2, the Administrative Agent,
upon request of the Required Lenders, shall have the right to the appointment of
a receiver for the properties and assets of the Borrower and its Subsidiaries,
and the Borrower, for itself and on behalf of its Subsidiaries, hereby consents
to such rights and such appointment and hereby waives any objection the Borrower
or any of its Subsidiaries may have thereto or the right to have a bond or other
security posted by the Administrative Agent on behalf of the Lenders, in
connection therewith. The rights of the Administrative Agent under this
Section 8.2(d) shall be subject to its prior compliance with the Communications
Act and the FCC rules and policies promulgated thereunder to the extent
applicable to the exercise of such rights.

    (e) The rights and remedies of the Administrative Agent and the Lenders
hereunder shall be cumulative, and not exclusive.

    Section 8.3  Payments Subsequent to Declaration of Event of Default.  After
the occurrence of and during the continuation of any Default or Event of
Default, payments and prepayments under this Agreement made to any of the
Administrative Agent and the Lenders or otherwise received by any of such
Persons (from realization on Collateral for the Obligations or otherwise) shall
be paid over to the Administrative Agent (if necessary) and distributed by the
Administrative Agent as follows: first, to the reasonable costs and expenses, if
any, incurred by the Lenders or the Administrative Agent in connection with the
collection of such payment or prepayment, including, without limitation, any
reasonable costs incurred by any of them in connection with the sale or
disposition of any Collateral for the Obligations and all amounts under
Section 11.2(b) and (c) hereof; second, to the Lenders and the Administrative
Agent for any fees hereunder or under any of the other Loan Documents then due
and payable; third, to the Lenders and the Swing Line Lender pro rata on the
basis of their respective

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unpaid principal amounts (except as provided in Section 2.2(e) hereof), to the
payment of any unpaid interest which may have accrued on the Obligations;
fourth, to the Lenders and the Swing Line Lender pro rata until all Loans
(amounts applied to the Revolving Loans hereunder shall permanently reduce the
Revolving Loan Commitments in such amounts) and, if applicable, the Incremental
Facility Loans, have been paid in full (and, for purposes of this clause,
obligations under Interest Hedge Agreements with the Lenders or any of them
shall be paid on a pro rata basis with the Loans to the extent such payments are
proceeds of Collateral and, if applicable, the Incremental Facility Loans);
fifth, to the Lenders and the Swing Line Lender pro rata on the basis of their
respective unpaid amounts, to the payment of any other unpaid Obligations; and
sixth, to the Borrower or as otherwise required by law.

ARTICLE 9

The Agents

    Section 9.1  Appointment and Authorization.  Each Lender hereby irrevocably
appoints and authorizes, and hereby agrees that it will require any transferee
of any of its interest in its portion of the Loans and in its Note irrevocably
to appoint and authorize the Administrative Agent to take such actions as its
agents on its behalf and to exercise such powers hereunder and under the other
Loan Documents as are delegated by the terms hereof and thereof, together with
such powers as are reasonably incidental thereto. Neither the Administrative
Agent nor any of its directors, officers, employees or agents, shall be liable
for any action taken or omitted to be taken by it hereunder or in connection
herewith, except for its own gross negligence or willful misconduct as
determined by a final, non-appealable judicial order of a court of competent
jurisdiction.

    Section 9.2  Interest Holders.  The Administrative Agent may treat each
Lender, or the Person designated in the last notice filed with the
Administrative Agent, as the holder of all of the interests of such Lender in
its portion of the Loans and in its Note until written notice of transfer,
signed by such Lender (or the Person designated in the last notice filed with
the Administrative Agent) and by the Person designated in such written notice of
transfer, in form and substance satisfactory to the Administrative Agent, shall
have been filed with the Administrative Agent.

    Section 9.3  Consultation with Counsel.  The Administrative Agent may
consult with Powell, Goldstein, Frazer & Murphy LLP, Atlanta, Georgia, special
counsel to the Administrative Agent, or with other legal counsel selected by
them and shall not be liable for any action taken or suffered by them in good
faith in consultation with the Required Lenders and in reasonable reliance on
such consultations.

    Section 9.4  Documents.  The Administrative Agent shall be under no duty to
examine, inquire into, or pass upon the validity, effectiveness or genuineness
of this Agreement, any Note, any other Loan Document, or any instrument,
document or communication furnished pursuant hereto or in connection herewith,
and the Administrative Agent shall be entitled to assume that they are valid,
effective and genuine, have been signed or sent by the proper parties and are
what they purport to be.

    Section 9.5  Administrative Agent and Affiliates.  With respect to the
Commitments, the Incremental Facility Commitment and the Loans, the
Administrative Agent shall have the same rights and powers hereunder as any
other Lender, and the Administrative Agent and Affiliates of the Administrative
Agent may accept deposits from, lend money to and generally engage in any kind
of business with the Borrower, any of its Subsidiaries or any Affiliates of, or
Persons doing business with, the Borrower, as if they were not affiliated with
the Administrative Agent and without any obligation to account therefor. The
foregoing sentence shall apply with equal force to the Administrative Agent.

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    Section 9.6  Responsibility of the Administrative Agent.  The duties and
obligations of the Administrative Agent under this Agreement are only those
expressly set forth in this Agreement. The Administrative Agent shall be
entitled to assume that no Default or Event of Default has occurred and is
continuing unless it has actual knowledge, or has been notified in writing by
the Borrower, of such fact, or has been notified by a Lender in writing that
such Lender considers that a Default or an Event of Default has occurred and is
continuing, and such Lender shall specify in detail the nature thereof in
writing. The Administrative Agent shall not be liable hereunder for any action
taken or omitted to be taken except for its own gross negligence or willful
misconduct as determined by a final, non-appealable judicial order of a court of
competent jurisdiction. The Administrative Agent shall provide each Lender with
copies of such documents received from the Borrower as such Lender may
reasonably request.

    Section 9.7  Collateral.  The Administrative Agent is hereby authorized to
act on behalf of the Lenders, in its own capacity and through other agents and
sub-agents appointed by it, under the Security Documents; provided, however,
that the Administrative Agent shall not agree to the release of any Collateral,
or any property encumbered by any mortgage, pledge or security interest, except
in compliance with Section 11.12 hereof.

    Section 9.8  Action by Administrative Agent.  

    (a) The Administrative Agent shall be entitled to use its discretion with
respect to exercising or refraining from exercising any rights which may be
vested in it by, and with respect to taking or refraining from taking any action
or actions which it may be able to take under or in respect of, this Agreement,
unless the Administrative Agent shall have been instructed by the Required
Lenders to exercise or refrain from exercising such rights or to take or refrain
from taking such action; provided, however, that the Administrative Agent shall
not exercise any rights under Section 8.2(a) hereof without the request of the
Required Lenders (or, where expressly required, all the Lenders) unless time is
of the essence, in which case, such action can be taken at the request of the
Administrative Agent. The Administrative Agent shall incur no liability under or
in respect of this Agreement with respect to anything which it may do or refrain
from doing in the reasonable exercise of its judgment or which may seem to it to
be necessary or desirable in the circumstances, except for its gross negligence
or willful misconduct as determined by a final, non-appealable judicial order of
a court having jurisdiction over the subject matter.

    (b) The Administrative Agent shall not be liable to the Lenders or to any
Lender or the Borrower or any of the Borrower's Subsidiaries in acting or
refraining from acting under this Agreement or any other Loan Document in
accordance with the instructions of the Required Lenders (or, where expressly
required, all the Lenders), and any action taken or failure to act pursuant to
such instructions shall be binding on all Lenders. The Administrative Agent
shall not be obligated to take any action which is contrary to law or which
would in such Person's reasonable opinion subject such Person to liability.

    Section 9.9  Notice of Default or Event of Default.  In the event that the
Administrative Agent or any Lender shall acquire actual knowledge, or shall have
been notified, of any Default or Event of Default, the Administrative Agent or
such Lender shall promptly notify the Lenders and the Administrative Agent, as
applicable (provided, however, that failure to give such notice shall not result
in any liability on the part of such Lender or Administrative Agent), and the
Administrative Agent shall take such action and assert such rights under this
Agreement and the other Loan Documents as the Required Lenders shall request in
writing, and the Administrative Agent shall not be subject to any liability by
reason of its acting pursuant to any such request. If the Required Lenders shall
fail to request the Administrative Agent to take action or to assert rights
under this Agreement or any other Loan Documents in respect of any Default or
Event of Default within ten (10) days after their receipt of the notice of any
Default or Event of Default from the Administrative Agent or any Lender, or
shall request inconsistent action with respect to such Default or Event of
Default, the Administrative Agent may, but shall not be required to, take such
action and assert such rights (other than rights under

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Article 8 hereof) as it deems in its discretion to be advisable for the
protection of the Lenders, except that, if the Required Lenders have instructed
the Administrative Agent not to take such action or assert such right, in no
event shall the Administrative Agent act contrary to such instructions unless
time is of the essence.

    Section 9.10  Responsibility Disclaimed.  The Administrative Agent shall not
be under any liability or responsibility whatsoever as Administrative Agent:

    (a) To the Borrower or any other Person as a consequence of any failure or
delay in performance by or any breach by, any Lender or Lenders of any of its or
their obligations under this Agreement;

    (b) To any Lender or Lenders, as a consequence of any failure or delay in
performance by, or any breach by, (i) the Borrower of any of its obligations
under this Agreement or the Notes or any other Loan Document, or (ii) any
Subsidiary of the Borrower or any other obligor under any other Loan Document;

    (c) To any Lender or Lenders, for any statements, representations or
warranties in this Agreement, or any other document contemplated by this
Agreement or any information provided pursuant to this Agreement, any other Loan
Document, or any other document contemplated by this Agreement, or for the
validity, effectiveness, enforceability or sufficiency of this Agreement, the
Notes, any other Loan Document, or any other document contemplated by this
Agreement; or

    (d) To any Person for any act or omission other than that arising from gross
negligence or willful misconduct of the Administrative Agent as determined by a
final, non-appealable judicial order of a court of competent jurisdiction.

    Section 9.11  Indemnification.  The Lenders agree to indemnify the
Administrative Agent (to the extent not reimbursed by the Borrower) pro rata
according to their respective Commitment Ratios and Incremental Facility
Commitment Ratios, from and against any and all liabilities, obligations, losses
(other than the loss of principal and interest hereunder in the event of a
bankruptcy or out-of-court "work-out" of the Loans), damages, penalties,
actions, judgments, suits, costs, expenses (including, without limitation,
reasonable fees and expenses of experts, agents, consultants and counsel), or
disbursements of any kind or nature whatsoever which may be imposed on, incurred
by or asserted against the Administrative Agent in any way relating to or
arising out of this Agreement, any other Loan Document, or any other document
contemplated by this Agreement or any other Loan Document or any action taken or
omitted by the Administrative Agent under this Agreement, any other Loan
Document, or any other document contemplated by this Agreement, except that no
Lender shall be liable to the Administrative Agent for any portion of such
liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses, or disbursements resulting from the gross negligence or willful
misconduct of the Administrative Agent as determined by a final, non-appealable
judicial order of a court having jurisdiction over the subject matter.

    Section 9.12  Credit Decision.  Each Lender represents and warrants to each
other and to the Administrative Agent that:

    (a) In making its decision to enter into this Agreement and to make its
portion of the Loans it has independently taken whatever steps it considers
necessary to evaluate the financial condition and affairs of the Borrower and
that it has made an independent credit judgment, and that it has not relied upon
the Administrative Agent or information provided by the Administrative Agent
(other than information provided to the Administrative Agent by the Borrower and
forwarded by the Administrative Agent to the Lenders); and

    (b) So long as any portion of the Loans remains outstanding or such Lender
has an obligation to make its portion of Advances hereunder, it will continue to
make its own independent evaluation of the financial condition and affairs of
the Borrower.

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    Section 9.13  Successor Administrative Agent.  Subject to the appointment
and acceptance of a successor Administrative Agent as provided below, the
Administrative Agent may resign at any time by giving written notice thereof to
the Lenders and the Borrower and may be removed at any time for cause by the
Required Lenders. Upon any such resignation or removal, the Required Lenders
shall have the right to appoint a successor Administrative Agent which
appointment shall, prior to an Event of Default, be subject to the consent of
the Borrower, acting reasonably. If (a) no successor Administrative Agent shall
have been so appointed by the Required Lenders or (b) if appointed, no successor
Administrative Agent shall have accepted such appointment within thirty
(30) days after the retiring Administrative Agent gave notice of resignation or
the Required Lenders removed the retiring Administrative Agent, then the
retiring Administrative Agent may, on behalf of the Lenders, appoint a successor
Administrative Agent which shall be any Lender or a commercial bank organized
under the laws of the United States of America or any political subdivision
thereof which has combined capital and reserves in excess of $250,000,000, which
appointment shall, prior to an Event of Default, be subject to the consent of
the Borrower, acting reasonably. Upon the acceptance of any appointment as
Administrative Agent hereunder by a successor Administrative Agent, such
successor Administrative Agent shall thereupon succeed to and become vested with
all the rights, powers, privileges, duties and obligations of the retiring
Administrative Agent and the retiring Administrative Agent shall be discharged
from its duties and obligations hereunder and under the other Loan Documents.
After any retiring Administrative Agent's resignation or removal hereunder as
Administrative Agent the provisions of this Article shall continue in effect for
its benefit in respect of any actions taken or omitted to be taken by it while
it was acting as the Administrative Agent.

    Section 9.14  Delegation of Duties.  The Administrative Agent may execute
any of its duties under the Loan Documents by or through agents or attorneys
selected by it using reasonable care, and shall be entitled to advice of counsel
concerning all matters pertaining to such duties.

    Section 9.15  No Responsibilities of the Agents.  The Agents (except for the
Administrative Agent) shall have no responsibilities hereunder or under any of
the other Loan Documents in their respective capacities.

ARTICLE 10

Change in Circumstances
Affecting LIBOR Advances

    Section 10.1  LIBOR Basis Determination Inadequate or Unfair.  If with
respect to any proposed LIBOR Advance for any Interest Period, the
Administrative Agent determines after consultation with the Lenders that
deposits in dollars (in the applicable amount) are not being offered to each of
the Lenders in the relevant market for such Interest Period, the Administrative
Agent shall forthwith give notice thereof to the Borrower and the Lenders,
whereupon until the Administrative Agent notifies the Borrower that the
circumstances giving rise to such situation no longer exist, the obligations of
any affected Lender to make its portion of such type of LIBOR Advances shall be
suspended.

    Section 10.2  Illegality.  If after the date hereof, the adoption of any
Applicable Law, or any change in any Applicable Law (whether adopted before or
after the Agreement Date), or any change in interpretation or administration
thereof by any governmental authority, central bank or comparable agency charged
with the interpretation or administration thereof, or compliance by any Lender
with any directive (whether or not having the force of law) of any such
authority, central bank or comparable agency, shall make it unlawful or
impossible for any Lender to make, maintain or fund its portion of LIBOR
Advances, such Lender shall so notify the Administrative Agent, and the
Administrative Agent shall forthwith give notice thereof to the other Lenders
and the Borrower. Before giving any notice to the Administrative Agent pursuant
to this Section 10.2, such Lender shall designate a different lending office if
such designation will avoid the need for giving such notice and will not, in the
sole judgment

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of such Lender, be otherwise materially disadvantageous to such Lender. Upon
receipt of such notice, notwithstanding anything contained in Article 2 hereof,
the Borrower shall repay in full the then outstanding principal amount of such
Lender's portion of each affected LIBOR Advance, together with accrued interest
thereon, on either (a) the last day of the then current Interest Period
applicable to such affected LIBOR Advances if such Lender may lawfully continue
to maintain and fund its portion of such LIBOR Advance to such day or
(b) immediately if such Lender may not lawfully continue to fund and maintain
its portion of such affected LIBOR Advances to such day. Concurrently with
repaying such portion of each affected LIBOR Advance, the Borrower may borrow a
Base Rate Advance from such Lender, and such Lender shall make such Advance, if
so requested, in an amount such that the outstanding principal amount of the
affected Note held by such Lender shall equal the outstanding principal amount
of such Note or Notes immediately prior to such repayment.

    Section 10.3  Increased Costs.  

    (a) If after the date hereof, the adoption of any Applicable Law, or any
change in any Applicable Law (whether adopted before or after the Agreement
Date), or any interpretation or change in interpretation or administration
thereof by any governmental authority, central bank or comparable agency charged
with the interpretation or administration thereof or compliance by any Lender
with any directive (whether or not having the force of law) of any such
authority, central bank or comparable agency:

    (1) shall subject any Lender to any tax, duty or other charge with respect
to its obligation to make its portion of LIBOR Advances, or its portion of
existing Advances, or shall change the basis of taxation of payments to any
Lender of the principal of or interest on its portion of LIBOR Advances or in
respect of any other amounts due under this Agreement, in respect of its portion
of LIBOR Advances or its obligation to make its portion of LIBOR Advances
(except for changes in the rate or method of calculation of tax on the overall
net income of such Lender); or

    (2) shall impose, modify or deem applicable any reserve (including, without
limitation, any imposed by the Board of Governors of the Federal Reserve System,
but excluding any included in an applicable Eurodollar Reserve Percentage),
special deposit, capital adequacy, assessment or other requirement or condition
against assets of, deposits with or for the account of, or commitments or credit
extended by, any Lender or shall impose on any Lender or the London interbank
borrowing market any other condition affecting its obligation to make its
portion of such LIBOR Advances or its portion of existing Advances;

and the result of any of the foregoing is to increase the cost to such Lender of
making or maintaining any of its portion of LIBOR Advances, or to reduce the
amount of any sum received or receivable by such Lender under this Agreement or
under its Note with respect thereto, then, if such Lender exercises comparable
rights (if any) for borrowers situated similarly to the Borrower, within ten
(10) days after demand by such Lender, the Borrower agrees to pay to such Lender
such additional amount or amounts as will compensate such Lender for such
increased costs. Each Lender will promptly notify the Borrower and the
Administrative Agent of any event of which it has knowledge, occurring after the
date hereof, which will entitle such Lender to compensation pursuant to this
Section 10.3 and will designate a different lending office if such designation
will avoid the need for, or reduce the amount of, such compensation and will
not, in the sole judgment of such Lender made in good faith, be otherwise
disadvantageous to such Lender.

    (b) Any Lender claiming compensation under this Section 10.3 shall provide
the Borrower with a written certificate setting forth the additional amount or
amounts to be paid to it hereunder and calculations therefor in reasonable
detail. Such certificate shall be presumptively correct absent manifest error.
In determining such amount, such Lender may use any reasonable averaging and
attribution methods. If any Lender demands compensation under this Section 10.3,
the Borrower may at any time, upon at least five (5) Business Days' prior notice
to such Lender, prepay in full such

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Lender's portion of the then outstanding LIBOR Advances, together with accrued
interest thereon to the date of prepayment, along with any reimbursement
required under Section 2.10 hereof. Concurrently with prepaying such portion of
LIBOR Advances the Borrower may borrow a Base Rate Advance, or a LIBOR Advance
not so affected, from such Lender, and such Lender shall, if so requested, make
such Advance in an amount such that the outstanding principal amount of the
affected Note or Notes held by such Lender shall equal the outstanding principal
amount of such Note or Notes immediately prior to such prepayment.

    Section 10.4  Effect On Other Advances.  If notice has been given pursuant
to Section 10.1, 10.2 or 10.3 hereof suspending the obligation of any Lender to
make its portion of any type of LIBOR Advance, or requiring such Lender's
portion of LIBOR Advances to be repaid or prepaid, then, unless and until such
Lender notifies the Borrower that the circumstances giving rise to such
repayment no longer apply, all amounts which would otherwise be made by such
Lender as its portion of LIBOR Advances shall, unless otherwise notified by the
Borrower, be made instead as Base Rate Advances. Any Base Rate Advance for this
purpose shall not be counted in the number of Advances permitted under
Section 2.3(e) hereof.

ARTICLE 11

Miscellaneous

    Section 11.1  Notices.  

    (a) Except as otherwise expressly provided herein, all notices and other
communications under this Agreement and the other Loan Documents (unless
otherwise specifically stated therein) shall be in writing and shall be deemed
to have been given three (3) Business Days after deposit in the mail, designated
as certified mail, return receipt requested, postage-prepaid, or one
(1) Business Day after being entrusted to a reputable commercial overnight
delivery service for next day delivery, or when sent on a Business Day prior to
5:00 p.m. (New York, New York time) by telecopy addressed to the party to which
such notice is directed at its address determined as provided in this
Section 11.1. All notices and other communications under this Agreement shall be
given to the parties hereto at the following addresses:

(1)If to the Borrower, to it at:

Rural Cellular Corporation
3905 Dakota Street, S.W.
Alexandria, Minnesota 56308
Attn: Wesley Schultz,
     Vice President
     Finance and CFO
Telecopy No.: (320) 808-2102

with a copy to:

Moss & Barnett
4800 Norwest Center
90 South Seventh Street
Minneapolis, Minnesota 55402-4129
Attn: James A. Rubenstein, Esq.
Telecopy No.: (612) 339-6686

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(2)If to the Administrative Agent, to it at:

Toronto Dominion (Texas), Inc.
c/o The Toronto-Dominion Bank
909 Fannin Street, Suite 900
Houston, Texas 77010
Attn: Manager, Agency
Telecopy No.: (713) 951-9921

with a copy to:

Powell, Goldstein, Frazer & Murphy LLP
Sixteenth Floor
191 Peachtree Street, N.E.
Atlanta, Georgia 30303
Attn: Douglas S. Gosden, Esq.
Telecopy No.: (404) 572-6999

(3)If to the Lenders, to them at the addresses set forth on Schedule 7 attached
hereto.

Copies shall be provided to Persons other than parties hereto only in the case
of notices under Article 8 hereof and the failure to provide such copies shall
not affect the validity of the notice given to the primary recipient.

    (b) Any party hereto may change the address to which notices shall be
directed under this Section 11.1 by giving ten (10) days' written notice of such
change to the other parties.

    Section 11.2  Expenses.  The Borrower will promptly pay, or reimburse:

    (a) all reasonable out-of-pocket expenses of the Administrative Agent in
connection with the preparation, negotiation, execution and delivery of this
Agreement and the other Loan Documents, and the transactions contemplated
hereunder and thereunder and the making of the initial Advance hereunder
(whether or not such Advance is made), including, without limitation, the
reasonable fees and disbursements of Powell, Goldstein, Frazer & Murphy LLP,
special counsel for the Administrative Agent;

    (b) all reasonable out-of-pocket expenses of the Administrative Agent in
connection with the restructuring and "work out" of the transactions
contemplated in this Agreement or the other Loan Documents, and the preparation,
negotiation, execution and delivery of any waiver, amendment or consent by the
Administrative Agent and the Lenders, or any of them, relating to this Agreement
or the other Loan Documents, including, but not limited to, the reasonable fees
and disbursements of any experts, agents or consultants and, prior to the
occurrence and continuance of an Event of Default, of a single law firm acting
as special counsel for the Administrative Agent and the Lenders, and during the
occurrence and continuance of an Event of Default a law firm for Administrative
Agent and a single law firm for the Lenders; and

    (c) all out-of-pocket costs and expenses of the Administrative Agent and the
Lenders in connection with the restructuring and "workout" of the transactions
contemplated in this Agreement or other Loan Documents or of enforcement under
this Agreement or the other Loan Documents and all out-of-pocket costs and
expenses of collection if an Event of Default occurs in the payment of the
Notes, which in each case shall include reasonable fees and out-of-pocket
expenses of counsel for the Administrative Agent and the Lenders.

    Section 11.3  Waivers.  The rights and remedies of the Administrative Agent,
the Swing Line Lender and the Lenders under this Agreement and the other Loan
Documents shall be cumulative and not exclusive of any rights or remedies which
they would otherwise have. No failure or delay by the

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Administrative Agent, the Required Lenders, the Swing Line Lender or the
Lenders, or any of them, in exercising any right, shall operate as a waiver of
such right. The Administrative Agent, the Swing Line Lender and the Lenders
expressly reserve the right to require strict compliance with the terms of this
Agreement in connection with any future funding of a Request for Advance or
Request for Swing Line Advance, as applicable. In the event the Lenders decide
to fund a Request for Advance or the Swing Line Lender decides to fund a Request
for Swing Line Advance at a time when the Borrower is not in strict compliance
with the terms of this Agreement, such decision by the Lenders or the Swing Line
Lender shall not be deemed to constitute an undertaking by the Lenders or the
Swing Line Lender to fund any further Request for Advance or Request for Swing
Line Advance, as applicable, or preclude the Lenders, the Swing Line Lender or
the Administrative Agent from exercising any rights available under the Loan
Documents or at law or equity. Any waiver or indulgence granted by the
Administrative Agent, the Swing Line Lender, the Lenders, or the Required
Lenders, shall not constitute a modification of this Agreement or any other Loan
Document, except to the extent expressly provided in such waiver or indulgence,
or constitute a course of dealing at variance with the terms of this Agreement
or any other Loan Document such as to require further notice of their intent to
require strict adherence to the terms of this Agreement or any other Loan
Document in the future.

    Section 11.4  Set-Off.  In addition to any rights now or hereafter granted
under Applicable Law and not by way of limitation of any such rights, upon the
occurrence of an Event of Default and during the continuation thereof, the
Administrative Agent, the Swing Line Lender and each of the Lenders are hereby
authorized by the Borrower at any time or from time to time, without notice to
the Borrower or to any other Person, any such notice being hereby expressly
waived, to set off and to appropriate and to apply any and all deposits (general
or special, time or demand, including, without limitation, Indebtedness
evidenced by certificates of deposit, in each case whether matured or unmatured)
and any other Indebtedness at any time held or owing by the Swing Line Lender,
any Lender or the Administrative Agent to or for the credit or the account of
the Borrower or any of its Subsidiaries, against and on account of the
obligations and liabilities of the Borrower to the Swing Line Lender, the
Lenders and the Administrative Agent, including, but not limited to, all
Obligations and any other claims of any nature or description arising out of or
connected with this Agreement, the Notes or any other Loan Document,
irrespective of whether (a) the Swing Line Lender, any Lender or the
Administrative Agent shall have made any demand hereunder or (b) the Swing Line
Lender, any Lender or the Administrative Agent shall have declared the principal
of and interest on the Loans and other amounts due hereunder to be due and
payable as permitted by Section 8.2 hereof and although such obligations and
liabilities or any of them shall be contingent or unmatured. Upon direction by
the Administrative Agent with the consent of the Lenders, the Swing Lender and
each Lender holding deposits of the Borrower or any of its Subsidiaries shall
exercise its set-off rights as so directed; and, within one (1) Business Day
following any such setoff, the Administrative Agent shall give notice thereof to
the Borrower.

    Section 11.5  Assignment.  

    (a) The Borrower may not assign or transfer any of its rights or obligations
hereunder, under the Notes, the Incremental Facility Notes or under any other
Loan Document without the prior written consent of each Lender.

    (b) Each Lender may at any time sell assignments or participations of up to
one hundred percent (100%) of its interest hereunder to (A) one (1) or more
wholly-owned Affiliates of such Lender or Approved Funds (provided, however,
that if such Affiliate is not a financial institution, such Lender shall be
obligated to repurchase such assignment if such Affiliate is unable to honor its
obligations hereunder), (B) any Federal Reserve Bank as collateral security
pursuant to Regulation A of the Board of Governors of the Federal Reserve System
and any Operating Circular issued by such Federal Reserve Bank (provided,
however, that no such assignment shall relieve such Lender from its obligations
hereunder) or (C) any Lender.

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    (c) Each Lender may at any time enter into assignment agreements or
participations with one or more other banks or other Persons pursuant to which
each Lender may assign or participate its interest under this Agreement and the
other Loan Documents, including, its interest in any particular Advance or
portion thereof; provided, however, that (i) all assignments (other than
assignments described in clause (b) hereof) shall be in minimum principal
amounts of the lesser of (X) (1) $5,000,000 for the Revolving Loan Commitments,
the Swing Line Commitment and Term Loan A Loans, and if applicable, the
Incremental Facility Commitments (in a single assignment only) and
(2) $1,000,000 for the Term Loan B Loans and Term Loan C Loans, and (Y) the
amount of such Lender's Commitment or Incremental Facility Commitment (in a
single assignment only), and (ii) all assignments (other than assignments
described in clause (b) hereof) and participations hereunder shall be subject to
the following additional terms and conditions:

    (1) No assignment (except assignments permitted in Section 11.5(b) hereof)
shall be sold without the prior consent of the Administrative Agent and prior to
the occurrence and continuation of an Event of Default, the consent of the
Borrower, which consents shall not be unreasonably withheld or delayed;

    (2) Any Person purchasing a participation or an assignment of any portion of
the Loans from any Lender shall be required to represent and warrant that its
purchase shall not constitute a "prohibited transaction" (as defined in
Section 4.1(m) hereof);

    (3) The Borrower, the Lenders, and the Administrative Agent agree that
assignments permitted hereunder (including the assignment of any Advance or
portion thereof) shall be made with all voting rights, and shall be made
pursuant to an Assignment and Assumption Agreement substantially in the form of
Exhibit S attached hereto. An administrative fee of $3,500 shall be payable to
the Administrative Agent by the assigning Lender at the time of any assignment
under Section 11.5(c) hereof;

    (4) No participation agreement shall confer any rights under this Agreement
or any other Loan Document to any purchaser thereof, or relieve any issuing
Lender from any of its obligations under this Agreement, and all actions
hereunder shall be conducted as if no such participation had been granted;
provided, however, that any participation agreement may confer on the
participant the right to approve or disapprove decreases in the interest rate,
increases in the principal amount of the Loans participated in by such
participant, decreases in fees, extensions of the Revolving Loan Maturity Date,
Term Loan A Maturity Date, Term Loan B Maturity Date, Term Loan C Maturity Date
and Incremental Facility Maturity Date, as applicable or other principal payment
date for the Loans or of the scheduled reduction of the Commitments and releases
of Collateral;

    (5) Each Lender agrees to provide the Administrative Agent and the Borrower
with prompt written notice of any issuance of participations in or assignments
of its interests hereunder;

    (6) No assignment, participation or other transfer of any rights hereunder
or under the Notes shall be effected that would result in any interest requiring
registration under the Securities Act of 1933, as amended, or qualification
under any state securities law;

    (7) No such assignment may be made to (A) any bank or other financial
institution (x) with respect to which a receiver or conservator (including,
without limitation, the Federal Deposit Insurance Corporation, the Resolution
Trust Company or the Office of Thrift Supervision) has been appointed or
(y) that is not "adequately capitalized" (as such term is defined in
Section 131(b)(1)(B) of the Federal Deposit Insurance Corporation Improvement
Act as in effect on the Agreement Date) or (B) any fund unless such fund invests
in commercial loans; and

    (8) If applicable, each Lender shall, and shall cause each of its assignees
to, provide to the Administrative Agent on or prior to the effective date of any
assignment an appropriate Internal Revenue Service form as required by
Applicable Law supporting such Lender's or assignee's

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position that no withholding by the Borrower or the Administrative Agent for
U.S. income tax payable by such Lender or assignee in respect of amounts
received by it hereunder is required. For purposes of this Agreement, an
appropriate Internal Revenue Service form shall mean Form 1001 (Ownership
Exemption or Reduced Rate Certificate of the U.S. Department of Treasury), or
Form 4224 (Exemption from Withholding of Tax on Income Effectively Connected
with the Conduct of a Trade or Business in the United States), and/or properly
executed Internal Revenue Service Form W-8 or W-9, as applicable, or any
successor or related forms adopted by the relevant U.S. taxing authorities.

    (d) Except as specifically set forth in Section 11.5(b) and (c) hereof,
nothing in this Agreement or the Notes, expressed or implied, is intended to or
shall confer on any Person other than the respective parties hereto and thereto
and their successors and assignees permitted hereunder and thereunder any
benefit or any legal or equitable right, remedy or other claim under this
Agreement or the Notes.

    (e) In the case of any participation, all amounts payable by the Borrower
under the Loan Documents shall be calculated and made in the manner and to the
parties hereto as if no such participation had been sold.

    (f)  The provisions of this Section 11.5 shall not apply to any purchase of
participations among the Lenders pursuant to Section 2.11 hereof.

    (g) The Administrative Agent, acting, for this purpose only, as agent of the
Borrower shall maintain, at no extra charge to the Borrower, a register (the
"Register") at the address to which notices to the Administrative Agent are to
be sent under Section 11.1 hereof on which Register the Administrative Agent
shall enter the name, address and taxpayer identification number (if provided)
of the registered owner of the Loans evidenced by a Registered Note or, upon the
request of the registered owner, for which a Registered Note has been requested.
A Registered Note and the Loans evidenced thereby may be assigned or otherwise
transferred in whole or in part only by registration of such assignment or
transfer of such Registered Note and the Loans evidenced thereby on the
Register. Any assignment or transfer of all or part of such Loans and the
Registered Note evidencing the same shall be registered on the Register only
upon compliance with the other provisions of this Section 11.5 and surrender for
registration of assignment or transfer of the Registered Note evidencing such
Loans, duly endorsed by (or accompanied by a written instrument of assignment or
transfer duly executed by) the Registered Noteholder thereof, and thereupon one
or more new Registered Notes in the same aggregate principal amount shall be
issued to the designated assignee(s) or transferee(s) and, if less than the
aggregate principal amount of such Registered Notes is thereby transferred, the
assignor or transferor. Prior to the due presentment for registration of
transfer of any Registered Note, the Borrower and the Administrative Agent shall
treat the Person in whose name such Loans and the Registered Note evidencing the
same is registered as the owner thereof for the purpose of receiving all
payments thereon and for all other purposes, notwithstanding any notice to the
contrary.

    (h) The Register shall be available for inspection by the Borrower and any
Lender at any reasonable time during the Administrative Agent's regular business
hours upon reasonable prior notice.

    (i)  Notwithstanding any other provision in this Agreement, any Lender that
is a fund that invests in bank loans may, without the consent of the
Administrative Agent or the Borrower, pledge all or any portion of its rights
under, and interest in, this Agreement and the Notes to any trustee or to any
other representative of holders of obligations owed or securities issued, by
such fund as security for such obligations or securities; provided, however,
that any transfer to any Person upon the enforcement of such pledge or security
interest may only be made subject to the assignment provisions of this
Section 11.5.

    Section 11.6  Accounting Principles.  All references in this Agreement to
GAAP shall be to such principles as in effect from time to time. All accounting
terms used herein without definition shall be

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used as defined under GAAP. The Borrower shall deliver to the Lenders at the
same time as the delivery of any quarterly or annual financial statements
required pursuant to Section 6.1 or 6.2 hereof, as applicable, (a) a description
in reasonable detail of any material variation between the application of GAAP
employed in the preparation of such statements and the application of GAAP
employed in the preparation of the next preceding quarterly or annual financial
statements, as applicable, and (b) reasonable estimates of the differences
between such statements arising as a consequence thereof. If, within thirty
(30) days after the delivery of the quarterly or annual financial statements
referred to in the immediately preceding sentence, the Required Lenders shall
object in writing to the Borrower's determining compliance hereunder on such
basis, (1) calculations for the purposes of determining compliance hereunder
shall be made on a basis consistent with those used in the preparation of the
latest financial statements as to which such objection shall not have been made,
or (2) if requested by the Borrower, the Required Lenders will negotiate in good
faith to amend the covenants herein to give effect to the changes in GAAP in a
manner consistent with this Agreement.

    Section 11.7  Counterparts.  This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but all such
separate counterparts shall together constitute but one and the same instrument.

    Section 11.8  Governing Law.  This Agreement and the Notes shall be
construed in accordance with and governed by the internal laws of the State of
New York applicable to agreements made and to be performed in the State of New
York. If any action or proceeding shall be brought by the Administrative Agent
or any Lender hereunder or under any other Loan Document in order to enforce any
right or remedy under this Agreement or under any Note or any other Loan
Document, the Borrower hereby consents and will, and the Borrower will cause
each Subsidiary to, submit to the jurisdiction of any state or federal court of
competent jurisdiction sitting within the area comprising the Southern District
of New York on the date of this Agreement. The Borrower, for itself and on
behalf of its Subsidiaries, hereby agrees that service of the summons and
complaint and all other process which may be served in any such suit, action or
proceeding may be effected by mailing by registered mail a copy of such process
to the offices of the Borrower at the address given in Section 11.1 hereof and
that personal service of process shall not be required. Nothing herein shall be
construed to prohibit service of process by any other method permitted by law,
or the bringing of any suit, action or proceeding in any other jurisdiction. The
Borrower agrees that final judgment in such suit, action or proceeding shall be
conclusive and may be enforced in any other jurisdiction by suit on the judgment
or in any other manner provided by Applicable Law.

    Section 11.9  Severability.  Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof in that jurisdiction or affecting the validity or
enforceability of such provision in any other jurisdiction.

    Section 11.10  Interest.  

    (a) In no event shall the amount of interest due or payable hereunder or
under the Notes exceed the maximum rate of interest allowed by Applicable Law,
and in the event any such payment is inadvertently made by the Borrower or
inadvertently received by the Administrative Agent or any Lender, then such
excess sum shall be credited as a payment of principal, unless the Borrower
shall notify the Administrative Agent or such Lender, in writing, that it elects
to have such excess sum returned forthwith. It is the express intent hereof that
the Borrower not pay and the Administrative Agent and the Lenders not receive,
directly or indirectly in any manner whatsoever, interest in excess of that
which may legally be paid by the Borrower under Applicable Law.

    (b) Notwithstanding the use by the Lenders of the Base Rate and LIBOR as
reference rates for the determination of interest on the Loans, the Lenders
shall be under no obligation to obtain funds

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from any particular source in order to charge interest to the Borrower at
interest rates related to such reference rates.

    Section 11.11  Table of Contents and Headings.  The Table of Contents and
the headings of the various subdivisions used in this Agreement are for
convenience only and shall not in any way modify or amend any of the terms or
provisions hereof, nor be used in connection with the interpretation of any
provision hereof.

    Section 11.12  Amendment and Waiver.  Neither this Agreement nor any Loan
Document nor any term hereof or thereof may be amended orally, nor may any
provision hereof or thereof be waived orally but only by an instrument in
writing signed by or at the written direction of the Required Lenders and, in
the case of an amendment, by the Borrower, except that in the event of (a) any
increase in the amount of any Lender's portion of the Commitments or Commitment
Ratios or any reduction or postponement of the reductions to the Revolving Loan
Commitments set forth in Section 2.5(a) hereof, (b) any reduction (without a
corresponding payment) or postponement of the repayments of the principal amount
of the Loans provided in Section 2.5 or 2.7 (b)(i), (ii) or (iii) hereof, and,
during the continuance of an Event of Default, Section 2.7(b)(v) or (vi) hereof,
(c) any reduction or postponement in interest or fees due hereunder without a
corresponding payment of such interest or fee amount by the Borrower, (d) any
release of any material portion of the Collateral for the Loans except as
otherwise provided in Section 7.4 hereof, (e) any waiver of any Default due to
the failure by the Borrower to pay any sum due to any of the Lenders hereunder,
(f) any release of any material Guarantor to a Guaranty from its or any portion
of the Obligations, except in connection with a merger, sale or other
disposition otherwise permitted hereunder (in which case, such release shall
require no further approval by the Lenders), (g) any amendment to the pro rata
treatment of the Lenders set forth in Section 2.11 hereof, or (h) any amendment
of this Section 11.12, of the definition of Required Lenders, or of any Section
herein to the extent that such Section requires action by all Lenders or
(i) subordinate the Loans in full or in part to any Indebtedness, any amendment
or waiver or consent may be made only by an instrument in writing signed by each
of the Lenders and, in the case of an amendment, by the Borrower. Any amendment
to any provision hereunder governing the rights, obligations, or liabilities of
the Administrative Agent, in its capacity as such, may be made only by an
instrument in writing signed by such affected Person and by each of the Lenders.
For purposes hereof, "material Guarantor" shall mean any Guarantor having assets
in excess of $500,000.00

    Section 11.13  Entire Agreement.  Except as otherwise expressly provided
herein, this Agreement and the other documents described or contemplated herein
will embody the entire agreement and understanding among the parties hereto and
thereto and supersede all prior agreements and understandings relating to the
subject matter hereof and thereof.

    Section 11.14  Other Relationships.  No relationship created hereunder or
under any other Loan Document shall in any way affect the ability of the
Administrative Agent and each Lender to enter into or maintain business
relationships with the Borrower or any of its Affiliates beyond the
relationships specifically contemplated by this Agreement and the other Loan
Documents.

    Section 11.15  Directly or Indirectly.  If any provision in this Agreement
refers to any action taken or to be taken by any Person, or which such Person is
prohibited from taking, such provision shall be applicable whether such action
is taken directly or indirectly by such Person, whether or not expressly
specified in such provision.

    Section 11.16  Reliance on and Survival of Various Provisions.  All
covenants, agreements, statements, representations and warranties made herein or
in any certificate delivered pursuant hereto (i) shall be deemed to have been
relied upon by the Administrative Agent and each of the Lenders notwithstanding
any investigation heretofore or hereafter made by them, and (ii) shall survive
the execution and delivery of the Notes and shall continue in full force and
effect so long as any Note is

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outstanding and unpaid. Any right to indemnification hereunder, including,
without limitation, rights pursuant to Sections 2.10, 2.12, 5.12, 10.3 and 11.2
hereof, shall survive the termination of this Agreement and the payment and
performance of all Obligations.

    Section 11.17  Senior Debt.  The Obligations are secured by the Security
Documents and is intended by the parties hereto to be in parity with the
Interest Hedge Agreements and senior in right of payment to all other
Indebtedness of the Borrower.

    Section 11.18  Obligations Several.  The obligations of the Administrative
Agent and each of the Lenders hereunder are several, not joint.

    Section 11.19  Confidentiality.  All information furnished to the
Administrative Agent or the Lenders concerning the Borrower and its Subsidiaries
is presumed to be non-public proprietary or confidential unless otherwise
identified by the Person furnishing the information. The Lenders and the
Administrative Agent shall hold all non-public, proprietary or confidential
information obtained pursuant to the requirements of this Agreement in
accordance with their customary procedures for handling confidential information
of this nature and in accordance with safe and sound lending practices; however,
the Lenders may make disclosure of any such information to their examiners,
Affiliates, outside auditors, counsel, consultants, appraisers, other
professional advisors and any direct or indirect contractual counterparty in
swap agreements or such counterparty's professional advisor in connection with
this Agreement or as reasonably required by any proposed syndicate member or any
proposed transferee or participant in connection with the contemplated transfer
of any Note or participation therein or as required or requested by any
governmental authority (including, without limitation, the National Association
of Insurance Commissioners or any similar organization or regulators or
quasi-regulatory authority having jurisdiction over any Lender or representative
thereof or in connection with the enforcement hereof or of any Loan Document or
related document or pursuant to legal process or with respect to any litigation
between or among the Borrower and any of the Lenders so long as any such
recipient is advised of the non-public, proprietary or confidential nature of
the information and of the Lender's obligations under this Section. Unless
specifically requested by the Borrower, no Lender shall be obligated or required
to return any materials furnished to it by the Borrower and no Lender may be
obligated to return such materials (a) unless (i) such Lender ceases to be a
Lender hereunder or (ii) such material was inadvertently provided to such Lender
by the Borrower or (b) at any time when there exists a Default or Event of
Default. The foregoing provisions shall not apply to a Lender with respect to
information that (i) is or becomes generally available to the public (other than
through such Lender), or (ii) is already in the possession of such Lender on a
nonconfidential basis.

ARTICLE 12

Waiver of Jury Trial

    Section 12.1  Waiver of Jury Trial.  THE BORROWER, FOR ITSELF AND ON BEHALF
OF EACH OF ITS SUBSIDIARIES, AND THE ADMINISTRATIVE AGENT AND EACH OF THE
LENDERS, HEREBY AGREE TO WAIVE AND HEREBY WAIVE THE RIGHT TO A TRIAL BY JURY IN
ANY COURT AND IN ANY ACTION OR PROCEEDING OF ANY TYPE IN WHICH THE BORROWER, ANY
OF THE BORROWER'S SUBSIDIARIES, ANY OF THE LENDERS, THE ADMINISTRATIVE AGENT, OR
ANY OF THEIR RESPECTIVE SUCCESSORS OR ASSIGNS IS A PARTY, AS TO ALL MATTERS AND
THINGS ARISING DIRECTLY OR INDIRECTLY OUT OF THIS AGREEMENT, ANY OF THE NOTES OR
THE OTHER LOAN DOCUMENTS AND THE RELATIONS AMONG THE PARTIES LISTED IN THIS
SECTION 12.1. EXCEPT AS PROHIBITED BY LAW, EACH PARTY TO THIS AGREEMENT WAIVES
ANY RIGHTS IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION REFERRED TO IN THIS
SECTION, ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES

71

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OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH PARTY TO THIS
AGREEMENT (i) CERTIFIES THAT NEITHER ANY REPRESENTATIVE, AGENT NOR ATTORNEY OF
THE ADMINISTRATIVE AGENT OR ANY LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT THE ADMINISTRATIVE AGENT OR ANY LENDER WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (ii) ACKNOWLEDGES THAT IT
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. THE
PROVISIONS OF THIS SECTION HAVE BEEN FULLY DISCLOSED BY AND TO THE PARTIES AND
THE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED
WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL
NOT BE FULLY ENFORCED IN ALL INSTANCES.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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    IN WITNESS WHEREOF, the parties hereto have executed this Agreement or
caused it to be executed by their duly authorized officers, all as of the day
and year first above written.

BORROWER: RURAL CELLULAR CORPORATION, a Minnesota corporation  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ADMINISTRATIVE AGENT AND LENDERS:  
TORONTO DOMINION (TEXAS), INC., as Administrative Agent and as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ARCHIMEDES FUNDING II, LTD., as a Lender   By:   ING Capital Advisors LLC, as
Collateral Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ARCHIMEDES FUNDING III, LTD., as a Lender   By:   ING Capital Advisors LLC, as
Collateral Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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THE ING CAPITAL SENIOR SECURED HIGH INCOME FUND, L.P., as a Lender   By:   ING
Capital Advisors LLC, as Investment Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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SEQUILS-ING I (HBDGM), LTD., as a Lender   By:   ING Capital Advisors LLC, as
Collateral Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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SWISS LIFE US RAINBOW LIMITED, as a Lender   By:   ING Capital Advisors LLC, as
Investment Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ATHENA CDO, LIMITED, as a Lender   By:   Pacific Investment Management Company,
as its Investment Advisor  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CAPTIVA III FINANCE LTD., as Assignee as advised by Pacific Investment
Management Company  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CAPTIVA IV FINANCE LTD., as a Lender as advised by Pacific Investment Management
Company  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ROYALTON COMPANY, as a Lender   By:   Pacific Investment Management Company, as
its Investment Advisor  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ABN AMRO BANK N.V., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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ALLFIRST BANK, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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AMARA-I FINANCE, LTD., as a Lender   By:   INVESCO Senior Secured
Management, Inc., as Subadvisor  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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AMARA 2 FINANCE, LTD., as a Lender   By:   INVESCO Senior Secured
Management, Inc., as Subadvisor  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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AVALON CAPITAL LTD., as a Lender   By:   INVESCO Senior Secured
Management, Inc., as Portfolio Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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BANK OF AMERICA, N.A., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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BANK OF MONTRÉAL, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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THE BANK OF NOVA SCOTIA, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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BANKERS TRUST COMPANY, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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BANQUE NATIONALE DE PARIS, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CANADIAN IMPERIAL BANK OF COMMERCE, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CARLYLE HIGH YIELD PARTNERS II, LTD., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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THE CIT GROUP/EQUIPMENT FINANCING, INC., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CITIZENS BANK OF MASSACHUSETTS, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CITY NATIONAL BANK, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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COBANK, ACB, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK NEDERLAND", NEW
YORK BRANCH, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CREDIT AGRICOLE INDOSUEZ, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CYPRESSTREE INVESTMENT PARTNERS I, LTD., as a Lender   By:   CypressTree
Investment Management Company, Inc. as Portfolio Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CYPRESSTREE INVESTMENT PARTNERS II, LTD., as a Lender   By:   CypressTree
Investment Management Company, Inc. as Portfolio Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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CYPRESSTREE SENIOR FLOATING RATE FUND, as a Lender   By:   CypressTree
Investment Management Company, Inc. as Portfolio Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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NORTH AMERICAN SENIOR FLOATING RATE FUND, as a Lender   By:   CypressTree
Investment Management Company, Inc. as Portfolio Manager  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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THE DAI-ICHI KANGYO BANK, LTD., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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DEXIA CREDIT LOCAL DE FRANCE—
NEW YORK AGENCY, as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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EATON VANCE CDO III, LTD., as a Lender  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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EATON VANCE INSTITUTIONAL SENIOR LOAN FUND, as a Lender   By:   Eaton Vance
Management, as Investment Advisor  
   
By:  
   
   
   
   
   
       

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      Name:                  

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      Its:                  

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EATON VANCE SENIOR INCOME TRUST, as a Lender   By:   Eaton Vance Management, as
Investment Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

81

--------------------------------------------------------------------------------

 
   
OXFORD STRATEGIC INCOME FUND, as a Lender   By:   Eaton Vance Management, as
Investment Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SENIOR DEBT PORTFOLIO, as a Lender   By:   Boston Management and Research, as
Investment Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
FIRST UNION NATIONAL BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
FIRSTAR BANK, N.A. (formerly known as Mercantile Bank National Association), as
a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
FLEET NATIONAL BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

82

--------------------------------------------------------------------------------

 
   
FLEET NATIONAL BANK       As Trust Administrator for Long Lane Master Trust IV,
as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
FRANKLIN FLOATING RATE TRUST, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
GALAXY CLO 1999-1, LTD., as a Lender   By:   SAI Investment Adviser, Inc.      
its Collateral Manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
GENERAL ELECTRIC CAPITAL CORPORATION, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
HARCH CLO I, LTD., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

83

--------------------------------------------------------------------------------

 
   
HIGHLAND LEGACY LIMITED, as a Lender   By:   Highland Capital Management, L.P.
as Collateral Manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
HOWARD BANK, N.A., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
IBM CREDIT CORPORATION, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KEMPER FLOATING RATE FUND, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KEY CORPORATE CAPITAL, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH LANGDALE LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

84

--------------------------------------------------------------------------------

 
   
KZH RIVERSIDE LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH SOLEIL LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH SOLEIL-2 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH CRESCENT-2 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH HIGHLAND-2 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH ING-1 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

85

--------------------------------------------------------------------------------

 
   
KZH ING-2 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH ING-3 LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
KZH PAMCO LLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
LIBERTY-STEIN ROE ADVISOR FLOATING RATE ADVANTAGE FUND, as a Lender   By:  
Stein Roe & Farnham Incorporated, As Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
STEIN ROE FLOATING RATE LIMITED LIABILITY COMPANY, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

86

--------------------------------------------------------------------------------

 
   
STEIN ROE & FARNHAM INCORPORATED, as a Lender as agent for Keyport Life
Insurance Company  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
MERITA BANK PLC, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
MERRILL LYNCH GLOBAL INVESTMENT SERIES: BANK LOAN INCOME PORTFOLIO, as a Lender
  By:   Merrill Lynch Asset Management, L.P., as Investment Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
MERRILL LYNCH PRIME RATE PORTFOLIO, as a Lender   By:   Merrill Lynch Asset
Management, L.P., as Investment Advisor  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
MERRILL LYNCH SENIOR FLOATING RATE FUND, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

87

--------------------------------------------------------------------------------

 
   
MERRILL LYNCH SENIOR FLOATING RATE FUND II, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SENIOR HIGH INCOME PORTFOLIO, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
DEBT STRATEGIES FUND, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
DEBT STRATEGIES FUND II, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
DEBT STRATEGIES FUND III, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

88

--------------------------------------------------------------------------------

 
   
METROPOLITAN LIFE INSURANCE COMPANY, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
MORGAN STANLEY DEAN WITTER PRIME INCOME TRUST, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
NATIONAL CITY BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
OCTAGON INVESTMENT PARTNERS II, LLC, as a Lender   By:   Octagon Credit
Investors, LLC as sub-investment manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
OLYMPIC FUNDING TRUST, SERIES 1999-1, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

89

--------------------------------------------------------------------------------

 
   
PPM SPYGLASS FUNDING TRUST, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SRF TRADING, INC., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PILGRIM PRIME RATE TRUST, as a Lender   By:   Pilgrim Investments, Inc. as its
investment manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
ML CLO XV PILGRIM AMERICA (CAYMAN) LTD., as a Lender   By:   Pilgrim
Investments, Inc. as its investment manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PNC BANK, NATIONAL ASSOCIATION, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

90

--------------------------------------------------------------------------------

 
   
PUTNAM DIVERSIFIED INCOME TRUST, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PUTNAM FUNDS TRUST—PUTNAM HIGH YIELD TRUST II, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PUTNAM HIGH YIELD ADVANTAGE FUND, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PUTNAM HIGH YIELD TRUST, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
PUTNAM VARIABLE TRUST—PVT HIGH YIELD FUND, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

91

--------------------------------------------------------------------------------

 
   
SANKATY HIGH YIELD PARTNERS II, L.P., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
GREAT POINT CLO 1999-1 LTD., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SEQUILS IV, LTD., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
STANFIELD CLO, LTD., as a Lender   By:   Stanfield Capital Partners LLC as its
Collateral Manager  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SUMMIT BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
SUNTRUST BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

92

--------------------------------------------------------------------------------

 
   
THE TRAVELERS INSURANCE COMPANY, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
TRAVELERS CORPORATE LOAN FUND INC., as a Lender   By:   Travelers Asset
Management International Company LLC  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
COLUMBUS LOAN FUNDING LTD., as a Lender   By:   Travelers Asset Management
International Company LLC  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
UNION BANK OF CALIFORNIA, N.A., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
U.S. BANK NATIONAL ASSOCIATION, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

93

--------------------------------------------------------------------------------

 
   
VAN KAMPEN PRIME RATE INCOME TRUST, as a Lender   By:   Van Kampen Investment
Advisory Corp.  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
VAN KAMPEN SENIOR FLOATING RATE FUND, as a Lender   By:   Van Kampen Investment
Advisory Corp.  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
WEBSTER BANK, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
WELLS FARGO BANK N.A., as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

 
   
ELC (CAYMAN) LTD. 2000-1, as a Lender  
   
By:  
   
   
   
   
   
       

--------------------------------------------------------------------------------

      Name:                  

--------------------------------------------------------------------------------

      Its:                  

--------------------------------------------------------------------------------

94

--------------------------------------------------------------------------------

EXHIBIT T
FORM OF REQUEST FOR SWING LINE ADVANCE

                , the duly elected and qualified            of RURAL CELLULAR
CORPORATION, a Minnesota corporation (the "Borrower"), in connection with that
certain Third Amended and Restated Loan Agreement dated as of June 29, 2000 (as
heretofore amended, modified, restated, and supplemented from time to time, the
"Loan Agreement") by and among the Borrower, the various financial institutions
party thereto (the "Lenders"), the Swing Line Lender (as defined in the Loan
Agreement) and Toronto Dominion (Texas), Inc. as administrative agent (the
"Administrative Agent"), hereby certifies that:

    1.  The Borrower hereby requests a Swing Line Advance in the amount of
$            to be made on              ,       , under the Swing Line
Commitment. Such Swing Line Advance shall be [a Base Rate Advance] [an Advance
at an agreed upon rate]. The proceeds of the Swing Line Advance should be wired
as set forth on Schedule 1 attached hereto. The foregoing instructions shall be
irrevocable.

    2.  All of the representations and warranties of the Borrower made under the
Loan Agreement (including, without limitation, all representations and
warranties with respect to the Borrower's Subsidiaries) and the other Loan
Documents which, pursuant to Section 4.2 of the Loan Agreement are made at and
as of the date of such Swing Line Advance, and will be as of the date of such
Swing Line Advance, true and correct in all material respects both before and
after giving effect to the application of the proceeds of the Swing Line Advance
of the Swing Line Loans in connection with which this Request for Swing Line
Advance is given, and after giving effect to any updates to information provided
to the Swing Line Lender in accordance with the terms of the Loan Agreement.

    3.  To the best knowledge of the undersigned after due inquiry, there does
not exist, as of this date, and there will not exist after giving effect to the
Swing Line Advance requested in this Request for Swing Line Advance, any Default
or Event of Default under the Loan Agreement.

    4.  All Necessary Authorizations have been obtained or made, are in full
force and effect and are not subject to any pending or threatened reversal or
cancellation.

    5.  There has occurred no event having a Material Adverse Effect
since              ,      .

    6.  On the date of such Swing Line Advance, after giving effect to the Swing
Line Advance requested hereby, the Borrower shall be in compliance on a pro
forma basis with the covenants set forth in Sections 7.8, 7.9, 7.10, 7.11 and
7.12 of the Loan Agreement, and Schedule 2 attached hereto sets forth
calculations demonstrating such compliance.

    7.  [Use the following for initial Swing Line Advance:] All other conditions
precedent to the Swing Line Advance requested hereby set forth in Section 3.1 of
the Loan Agreement have been satisfied.

    [Use the following for Swing Line Advances subsequent to the initial Swing
Line Advance:] All other conditions precedent to the Swing Line Advance
requested hereby set forth in Section 3.2 of the Loan Agreement have been
satisfied.

    Capitalized terms used in this Request for Swing Line Advance and not
otherwise defined herein are used as defined in the Loan Agreement.

--------------------------------------------------------------------------------

    IN WITNESS WHEREOF, the Borrower, acting through an Authorized Signatory,
has signed this Request for Swing Line Advance, as of the  day of            ,
      .

    RURAL CELLULAR CORPORATION,
a Minnesota corporation  
   
   
By:  
   
         

--------------------------------------------------------------------------------

Name:
Title:

Schedules:

    Schedule 1—Wiring Instructions

    Schedule 2—Compliance Calculations

2

--------------------------------------------------------------------------------

EXHIBIT U
FORM OF SWING LINE NOTE

$10,000,000.00   As of            , 2000

    FOR VALUE RECEIVED, the undersigned, RURAL CELLULAR CORPORATION, a Minnesota
corporation (the "Borrower"), promises to pay to the order
of            (hereinafter, together with its successors and assigns, called the
"Swing Line Lender") in immediately available funds, at the office of Toronto
Dominion (Texas), Inc. in Houston, Texas or such other place as the Swing Line
Lender may designate in writing to the Borrower, the principal sum of TEN
MILLION AND 00/100s DOLLARS ($10,000,000.00) in United States funds, or, if
less, so much thereof as may from time to time be advanced by the Swing Line
Lender to the Borrower hereunder, plus interest as hereinafter provided. Such
Swing Line Advances and repayments thereof may be endorsed from time to time on
the grid attached hereto, but the failure to make such notations shall not
affect the validity of the Borrower's obligation to repay unpaid principal and
interest hereunder.

    All capitalized terms used herein shall have the meanings ascribed to them
in that certain Third Amended and Restated Loan Agreement dated as of June 29,
2000 (as amended, modified, restated, and supplemented from time to time, the
"Loan Agreement") by and among the Borrower, the financial institutions parties
thereto (together with their successors and assigns, the "Lenders"), the Swing
Line Lender and Toronto Dominion (Texas), Inc. as administrative agent (the
"Administrative Agent"), except to the extent such capitalized terms are
otherwise defined or limited herein.

    All principal amounts and other amounts then outstanding hereunder shall be
due and payable as set forth in the Loan Agreement with a final payment of all
principal amounts and other Obligations then outstanding hereunder shall be due
and payable in full on the Revolving Loan Maturity Date.

    The Borrower shall be entitled to borrow, re-pay and re-borrow amounts due
hereunder pursuant to the Swing Line Commitment and subject to the terms and
conditions of the Loan Agreement. Prepayment of the principal amount hereof may
be made only as provided in the Loan Agreement. The principal amount of each
Swing Line Advance shall be repaid as set forth in the Loan Agreement.

    The Borrower hereby promises to pay interest on the unpaid principal amount
of the Swing Line Loans outstanding hereunder as provided in Article 2 of the
Loan Agreement. Interest under this Swing Line Note shall also be due and
payable when this Swing Line Note shall become due (whether at maturity, by
reason of acceleration or otherwise). Overdue principal and, to the extent
permitted by Applicable Law, overdue interest under this Swing Line Note, shall
bear interest at the Default Rate as provided in the Loan Agreement.

    In no event shall the amount of interest due or payable hereunder exceed the
maximum rate of interest allowed by Applicable Law, and in the event any such
payment is inadvertently made by the Borrower or inadvertently received by the
Swing Line Lender, then such excess sum shall be credited as a payment of
principal, unless the Borrower shall notify the Swing Line Lender in writing
that it elects to have such excess sum returned forthwith. It is the express
intent of the parties hereto that the Borrower not pay and the Swing Line Lender
not receive, directly or indirectly, in any manner whatsoever, interest in
excess of that which may legally be paid by the Borrower under Applicable Law.

    All parties now or hereafter liable with respect to this Swing Line Note,
whether the Borrower, any guarantor, endorser, or any other Person, hereby waive
to the extent permitted by Applicable Law presentment for payment, demand,
notice of non-payment or dishonor, protest and notice of protest.

    No delay or omission on the part of the Swing Line Lender or any holder
hereof in exercising its rights under this Swing Line Note, or delay or omission
on the part of the Swing Line Lender, the Administrative Agent, the Required
Lenders or the Lenders, collectively, or any of them, in exercising its or their
rights under the Loan Agreement or under any other Loan Document, or course of
conduct relating thereto, shall operate as a waiver of such rights or any other
right of the Lender or any holder

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hereof, nor shall any waiver by the Swing Line Lender, the Administrative Agent,
the Required Lenders or the Lenders collectively, or any of them, or any holder
hereof, of any such right or rights on any one occasion be deemed a bar to, or
waiver of, the same right or rights on any future occasion.

    The Borrower promises to pay all reasonable costs of collection, including,
without limitation, reasonable attorneys' fees, should this Swing Line Note be
collected by or through an attorney-at-law or under advice therefrom.

    Time is of the essence of this Swing Line Note.

    This Swing Line Note evidences the Swing Line Lender's Swing Line Loans
under, and is entitled to the benefits and subject to the terms of, the Loan
Agreement, which contains provisions with respect to the acceleration of the
maturity of this Swing Line Note upon the happening of certain stated events,
and provisions for prepayment. This Swing Line Note is secured by and is also
entitled to the benefits of the Security Documents and any other agreement or
instrument providing collateral for the Swing Line Loans Loans, whether now or
hereafter in existence, and any filings, instruments, agreements, and documents
related thereto and providing collateral for the Swing Line Loans.

    THIS SWING LINE NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE INTERNAL LAWS OF THE STATE OF NEW YORK.

2

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    IN WITNESS WHEREOF, the duly authorized signatory of the Borrower, as
Authorized Signatory, has executed this Swing Line Note as of the day and year
first above written.

    RURAL CELLULAR CORPORATION,
a Minnesota corporation  
   
   
By:  
   
         

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Name:
Title:

3

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ADVANCES

Date

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  Amount of Advance

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  Type of Advance

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  Amount of Principal Paid or Prepaid

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  Notation Made By

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4

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QUICKLINKS

ARTICLE 1
Definitions
ARTICLE 2
Loans
ARTICLE 3
Conditions Precedent
ARTICLE 4
Representations and Warranties
ARTICLE 5
General Covenants
ARTICLE 6
Information Covenants
ARTICLE 7
Negative Covenants
ARTICLE 8
Default
ARTICLE 9
The Agents
ARTICLE 10
Change in Circumstances Affecting LIBOR Advances
ARTICLE 11
Miscellaneous
ARTICLE 12
Waiver of Jury Trial
EXHIBIT T FORM OF REQUEST FOR SWING LINE ADVANCE
EXHIBIT U FORM OF SWING LINE NOTE
ADVANCES