Exhibit 10.2

THIRD AMENDMENT TO THE BANK CREDIT NOTE No. 307.001.181, ISSUED BY NEXTEL
TELECOMUNICAÇÕES LTDA., ON 31/10/2012, IN FAVOR OF BANCO DO BRASIL S.A., IN THE
AMOUNT OF FOUR HUNDRED MILLION REAIS (BRL 400,000,000.00).
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INTRODUCTION:
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ISSUER - NEXTEL TELECOMUNICAÇÕES LTDA., a limited liability company with
registered office at Av. das Nações Unidas, 14.171, 27th Floor, Rochavera
Crystal Tower, São Paulo (SP), enrolled with the Federal Taxpayer Registry
(CNPJ/MF) under No.66.970.229/0001-67 herein represented by the undersigned and
duly identified members.
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CREDITOR - BANCO DO BRASIL S.A., a mixed economy company, with registered office
in Brasilia, Federal Capital, SAUN Qd 5 lt B - Torre I - Ed.BB - 70.040-912,
enrolled with the Federal Taxpayer Registry (CNPJ/MF) under No.
00.000.000/0001-91, represented by its Branch “Large Corporate” 3070 (SP),
located in the city of São Paulo, State of São Paulo, Av. Paulista, 2,300, 2nd
Floor, Cerqueira César, enrolled with the Federal Taxpayer Registry (CNPJ/MF)
under No. 00.000.000/1947-00, represented by its legal representatives, pursuant
to its bylaws.
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GUARANTOR - NEXTEL TELECOMUNICAÇÕES S.A., with registered office at Av. das
Nações Unidas, 14.171, 26th Floor, Rochavera Crystal Tower, Suite A, Vila
Gertrudes, CEP 04794-000, City of São Paulo, State of São Paulo, enrolled with
the Federal Taxpayer Registry (CNPJ/MF) under No.00.169.369/0001-22,, herein
represented by the undersigned and duly identified members.
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WHEREAS, on October 31, 2012, the ISSUER issued in favor of the CREDITOR the
Bank Credit Note No.307.001.181 in the principal amount of R$ 400,000,000.00
(four hundred million Brazilian reais) (the “Note”);

WHEREAS, on February 13, 2015, the ISSUER and the CREDITOR executed the first
amendment to the Note, amending, among other conditions, the interest rate
applicable to the debit balances recorded in the Loan Account and including
additional tangible collateral and personal guarantees for the fulfillment of
the obligations therein (The “First Amendment”);

WHEREAS, on June 25, 2015, the ISSUER and the CREDITOR executed the second
amendment to the Note, amending, among other conditions, the form of payment,
and the interest rate on debit balances (the “Second Amendment” and, jointly
with the First Amendment and the Note, “CCB”); and

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WHEREAS, the ISSUER and the CREDITOR intend to amend the CCB in order to change
the conditions of payment and certain terms, among other provisions;

The parties hereto RESOLVE to execute this Third Amendment to the Bank Credit
Note No.307.001.181 (“Third Amendment”), under the following terms and
conditions.

CLAUSE ONE - INTRODUCTION - The INTRODUCTION of the CCB shall be effective with
the following wording:

“1. INTRODUCTION:

1.1. - ISSUER:
Corporate Name: NEXTEL TELECOMUNICAÇÕES LTDA. (“ISSUER”)
CNPJ: 66.970.229/0001-67
Address: Av. das Nações Unidas, 14.171, 27th Floor, Rochavera Crystal Tower
City: São Paulo     State: SP
CEP: 04.794-000
Branch: Large Corporate SP 3070 (SP)
Checking Account: 5.567-0 (“Checking Account”)

1.2. - DETAILS OF THE CREDIT OPERATION:
Amount: R$ 400,000,000.00 (four hundred million Brazilian reais) (“Principal”)
Maturity date: 10/31/2019
Payment Dates of Financial Fees: monthly from 07/01/2016 (exclusive) (“Fee
Payment Dates”).
Number of counterparts of this Bank Credit Note: one (1) negotiable and 2 (two)
non-negotiable counterparts"

CLAUSE TWO - CREDIT - CLAUSE 1 of the CCB will be effective with the following
wording:

“1. CREDIT - On the payment dates stated in Clause 9 below and until October 31,
2019, in accordance with the schedule included as Annex I hereto, we shall pay,
in national currency, this Bank Credit Note (“Note”), whose characteristics are
described in the introduction chart, to BANCO DO BRASIL S.A. (“CREDITOR”), a
financial institution with registered office in the city of Brasília, Federal
District, at SAUN Qd 5 lt B - Torre I - Ed.BB, - 70.040-912 - Brasília (DF),
enrolled with the Federal Taxpayer Registry (CNPJ/MF) under No.
00.000.000/0001-91, represented by its Branch, Large Corporate / SP 3070 (SP),
located in the city of São Paulo, State of São Paulo, Av. Paulista, 2300, 2nd
Floor, Cerqueira César, enrolled with the Federal Taxpayer Registry (CNPJ/MF)
under No.00.000.000/1947-00, or to its order, in the place of payment indicated
in the Payment Location

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Clause, the net debt, certain and due, corresponding to the amount in item 1.2
of the introduction (“Principal”), plus Financial Charges, as provided for in
this Note.”
    
CLAUSE THREE - METHOD OF PAYMENT AND REPLACEMENT OF THE PAYMENT SCHEDULE - The
Parties agree to amend the amounts set forth in the payment schedule of the
Principal and Financial Charges, so that Annex I of the CCB shall become
effective as Annex A of this instrument and all references made to Annex I shall
be deemed to refer to Annex A of this Third Amendment.

CLAUSE FOUR - EARLY MATURITY - The Parties agree to amend the CCB CLAUSE 10,
item (m), as well as to include two new items (bb) and (cc) as well as sub-items
10.1.1, 10.1.1.1 and 10.1.2, which shall be effective with the following
wording:

“(m) grant and/or establishment by the ISSUER or any Brazilian Affiliate, of any
liens or encumbrances or other real or personal guarantees, in favor of a third
party (including its Affiliates and direct or indirect parent-company), except
for (i) those established pursuant to this Note or prior to the date of the
First Amendment, or (ii) by (a) granting of personal guarantees in favor of the
ISSUER’s creditors, which are non-financial institutions, in their ordinary
course of business, limited to the overall, individual or aggregate amount of
R$5,000,000.00 (five million Brazilian reais); (b) granting real guarantees as
counter-guarantees in insurance policies and insurance agreements in general;
(c) granting real guarantees as counter-guarantees in new bank guarantees for
judicial guarantees or making new limited judicial deposits, in the case of
guarantees granted under this item (c) to the total amount of R$310,000,000.00
(three hundred and ten million Brazilian reais), except for granting guarantees
or making new judicial deposits that relate to administrative or judicial
proceedings that (1) deal with taxes levied on amounts related to monthly
subscriptions without deduction of minutes, in which case such guarantees or new
deposits may be provided/made without an overall limit; or (2) the ISSUER acts
as Plaintiff, and is questioning the validity of the collection of debits
against the ISSUER, in which case the guarantees or new deposits may be
provided/made until the aggregate amount of the guarantees made in connection
with the debits in question reach a maximum amount of R$ 300,000,000.00 (three
hundred million Brazilian reais), without prejudice to the use of the general
limit described in this item (c) for any cases of guarantees and/or judicial
deposits; (d) granting real or personal guarantees on lease agreements for sites
or real estate; (e) granting real or personal guarantees in collocation
agreements (i.e. contracts with other operators for the installation of tower
equipment); (f) financing granted by the National Telecommunications Agency -
ANATEL, including their renewals; (g) guarantees in favor of ANATEL; (h)
granting real guarantees as counter-guarantees for the issuance of new
performance bonds in favor of ANATEL, in this case, subject to the prior
approval of the CREDITOR which must be provided within forty-five (45) days from
the date when such approval request is made in writing with proof of delivery to
CREDITOR, provided,

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however, that a lack of response from the CREDITOR shall not imply tacit
approval; and (i) renewals of transactions already held by the ISSUER or its
Brazilian Affiliates identified in Annex 10.1(m)(1) of this Note, provided that
the guarantees to be granted pursuant to this item (i) shall be limited to the
amount guaranteed by the surety and/or performance bond, as indicated in said
annex, complying with the same guarantees in effect on the date hereof, being
that the real guarantees granted under items (b), (d) and (e) above are limited
to the overall amount of R$50,000,000.00 (fifty million Brazilian reais). The
ISSUER declares, for the purposes of this Note, that Annex 10.1(m) (2) contains
all transactions that are under real guarantees;

(bb) in case the ISSUER, up until the event described in clause 10.2.1 below,
(i) makes an early payment of any debt due to financial institutions other than
the CREDITOR (“Other Financial Creditors”); (ii) reinforces or changes, in any
way, real or personal guarantees currently existing in favor of Other Financial
Creditors in any loan or credit agreement, or other bonds or securities executed
or issued by the ISSUER or its Affiliates; or (iii) executes contracts or
agreements with Other Financial Creditors, without prior and express consent of
the CREDITOR, that include terms and conditions more favorable to the respective
Other Financial Creditors in comparison with the covenants originally agreed
upon with such Other Financial Creditors or with the obligations to the
CREDITOR, including, without limitation, payment of any of its obligations
towards Other Financial Creditors on a different schedule as originally agreed;
except if, (1) the effectiveness of the transactions described in sub items (ii)
and (iii) above is subject to the CREDITOR’s approval, or (2) in any event
described in items (i), (ii) or (iii) above, if the ISSUER makes the Mandatory
Early Payments, according to item 10.1.1 below; and

(cc) in case, up until the occurrence of the event described in clause 10.2.1
below, (i) the ISSUER changes or modifies in any way the revenue cash flow
presently directed to the CREDITOR, whether deposited in linked or not linked
accounts, or (ii) the revenues currently directed to the CREDITOR are, for any
reason, transferred by the competent collection agents, in a manner different
from that provided for in the current contractual collection arrangements;
except if, (1) the effectiveness of the transactions described in sub item (i)
above is subject to CREDITOR’s approval; (2) in any of the events described in
items (i) or (ii) above, (A) the ISSUER cures the event within ten (10) days
from the date of its occurrence; (B) if the ISSUER does not cure the relevant
event within the period described in item (A) above, the ISSUER shall make the
Mandatory Early Payments, according to item 10.1.1 below.

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10.1.1 Mandatory Early Payments. Upon the occurrence of any event described in
items (bb) or (cc) of item 10.1, if the ISSUER does not cure the relevant event
within the period described in such items, the ISSUER shall make the following
payments in the dates and periods determined below (“Mandatory Early Payments”),
under penalty of accelerated maturity of this CCB:

Date of Event Occurrence (complying with the provided cure period)
Payment Date
Amount of each Mandatory Early Payment
 (BRL - R$)
Before April 30, 2017 (inclusive)
(i) within 10 (ten) days after the occurrence of the event, or at the end of the
cure period of the respective event (if any); and on

(i) 18,518,804.61

 
(ii) July 31, 2017
(ii) 18,518,804.61
After April 30, 2017
(exclusive)
(i) within ten (10) days after the occurrence of the event, or at the end of the
cure period of the respective event (if any), but never after July 31, 2017
(i) 37,037,609.22

10.1.1.1 The amounts paid as Mandatory Early Payment, as described in the table
in item 10.1.1 above shall be deducted from the next Installment due on the
Principal, pursuant to the terms of this Note.

10.2.1. For clarification purposes, the events of early maturity addressed in
paragraphs (bb) and (cc) of item 10.1 above, shall be effective until the full
payment of the Principal installment due on July 31, 2017. For further
clarification purposes, the expiration of the deadlines provided for in this
clause shall not affect, in any way, the provisions regarding the collection of
Assigned Rights, nor the obligations related to the deposit of the Minimum
Average Amount in the Linked Account, in the terms set forth in Clause Two of
the First Amendment to the Note, executed by the Parties on February 13, 2015.”

CLAUSE FIVE - REGISTRY - The ISSUER shall register this Third Amendment at the
Registry of Titles and Documents of the District of São Paulo, State Capital.
The expenses related to this registration shall be paid by the ISSUER, who
authorizes herein the debit of the respective amounts from its deposit account
No. 5567-0, maintained at branch # 3070-8 of the CREDITOR.

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The CREDITOR, the ISSUER and the GUARANTOR, stating that there is no intention
to novate, hereby ratify the Bank Credit Note as amended, in all of its terms,
clauses and conditions not expressly amended in this document, including the
real and personal guarantees established in the First Amendment executed by the
Parties on February 13, 2015, which is hereby incorporated into a single and
indivisible instrument for all legal purposes.

This instrument is issued in four (4) counterparts of equal content and only the
first one shall be negotiable. The other counterparts contain the expression
“non-negotiable copies”.

São Paulo (SP), February 24, 2017

CREDITOR
BANCO DO BRASIL S.A.
Large Corporate Branch 3070 (SP)

ISSUER
NEXTEL TELECOMUNICAÇÕES LTDA.
CNPJ: 66.970.229/0001-67

GUARANTOR
NEXTEL TELECOMUNICAÇÕES S.A.
CNPJ: 00.169.369/0001-22

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ANNEX A
ANNEX I OF THE CCB
NEW PAYMENT SCHEDULE

BANCO DO BRASIL
 
MONTH
DAY
PAYMENT
PRINCIPAL BALANCE
2016

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
 
 
 
 BRL 325,924.781.56
March
01
 BRL 9,259,402.30
 BRL 316,665,379.26
March
31
 
 BRL 316,665,379.26
May
01
 
 BRL 316,665,379.26
May
31
 
 BRL 316,665,379.26
July
01
 
 BRL 316,665,379.26
July
31
 BRL 46,297,011.52
 BRL 270,368,367.73
August
31
 BRL 9,259,402.30
 BRL 261,108,965.43
October
01
 BRL 9,259,402.30
 BRL 251,849,563.12
October
31
 BRL 9,259,402.30
 BRL 242,590,160.82
December
01
 BRL 10,692,724.17
 BRL 231,897,436.65
December
31
 BRL 10,692,724.17
 BRL 221,204,712.48
2018
January
31
 BRL 10,207,768.03
 BRL 210,996,944.45
March
01
 BRL 10,207,768.03
 BRL 200,789,176.42
March
31
 BRL 10,207,768.03
 BRL 190,581,408.38
May
01
 BRL 10,207,768.03
 BRL 180,373,640.35
May
31
 BRL 10,207,768.03
 BRL 170,165,872.32
July
01
 BRL 10,207,768.03
 BRL 159,958,104.29
July
31
 BRL 10,207,768.03
 BRL 149,750,336.26
August
31
 BRL 10,207,768.03
 BRL 139,542,568.23
October
01
 BRL 10,207,768.03
BRL 129,334,800.20
October
31
 BRL 10,207,768.04
 BRL 119,127,032.16
December
01
 BRL 10,207,768.03
 BRL 108,919,264.13
December
31
 BRL 10,207,768.03
 BRL 98,711,496.10
2019
January
31
 BRL 10,207,768.03
 BRL 88,503,728.07
March
01
 BRL 10,207,768.03
 BRL 78,295,960.04
March
31
 BRL 10,207,768.03
 BRL 68,088,192.01
May
01
 BRL 10,207,768.03
 BRL 57,880,423.98
May
31
 BRL 10,207,768.03
 BRL 47,672,655.95
July
01
 BRL 10,207,768.03
 BRL 37,464,887.91
July
31
 BRL 10,207,768.03
 BRL 27,257,119.88
August
31
 BRL 10,207,768.03
 BRL 17,049,351.85
October
01
 BRL 10,207,768.03
 BRL 6,841,583.82
October
31
 BRL 6,841,583.82
BRL -

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