Exhibit 10.2

Execution Version

AMENDMENT NO. 1 TO CREDIT AGREEMENT

AMENDMENT NO. 1 TO CREDIT AGREEMENT, dated as of July 17, 2012 (this
“Amendment”), is entered into by and among Zayo Group, LLC, a Delaware limited
liability company (“Zayo Group”), Zayo Capital, Inc., a Delaware corporation
(“Zayo Capital”; and together with Zayo Group, the “Borrowers”), Morgan Stanley
Senior Funding, Inc., as term facility administrative agent (the “Term Facility
Administrative Agent”), SunTrust Bank, as revolving facility administrative
agent (the “Revolving Facility Administrative Agent” and, together with the Term
Facility Administrative Agent, the “Administrative Agents”) and the undersigned
lenders (the “Lenders”).

PRELIMINARY STATEMENTS:

WHEREAS, the Borrowers, certain subsidiaries thereof, the Administrative Agents
and the Lenders entered into that certain Credit Agreement, dated as of July 2,
2012 (the “Credit Agreement”; capitalized terms not otherwise defined in this
Amendment have the same meanings as specified in the Credit Agreement).

WHEREAS, the Borrowers, the undersigned Lenders and the Administrative Agents
have agreed to amend the Credit Agreement as hereinafter set forth;

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto hereby agree as follows:

SECTION 1. Amendments to Credit Agreement. The Credit Agreement is, effective as
of the date hereof and subject to the satisfaction of the conditions precedent
set forth in Section 3, hereby amended as follows:

(a) Section 1.1 of the Credit Agreement is hereby amended by restating the
definition of the term “Bank Products” as follows:

“Bank Products” shall mean any of the following services provided to any
Borrower Party by any Person who at the time such services are extended (or
entered into, in the case of Lender Hedge Agreements) is a Lender (or any
Affiliate of a Lender): (a) any treasury or other cash management services,
including deposit accounts, automated clearing house (ACH) origination and other
funds transfer, depository (including cash vault and check deposit), zero
balance accounts and sweeps, return items processing, controlled disbursement
accounts, positive pay, lockboxes and lockbox accounts, account reconciliation
and information reporting, payables outsourcing, payroll processing, trade
finance services, investment accounts and securities accounts, (b) card
services, including credit cards (including purchasing cards and commercial
cards), prepaid cards, including payroll, stored value and gift cards, merchant
services processing, and debit card services and (c) Lender Hedge Agreements.

Amendment No. 1 to

Credit Agreement

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(b) Section 1.1 of the Credit Agreement is hereby amended by restating the
definition of the term “Lender Group” as follows:

“Lender Group” shall mean, collectively, the Administrative Agents, the Issuing
Bank, the Lenders and, solely where such term is used in reference to the
guarantees, the security interests and the Collateral in each case pursuant to
the Loan Documents (including, without limitation, (a) the definitions of the
terms “Collateral”, “Permitted Liens” and “Secured Parties” in Section 1.1 of
this Agreement, (b) Sections 3.1 and 10.15 of this Agreement and (c) the
Security Agreement), any party to a Bank Product Document other than any
Borrower Party.

(c) Section 2.11(a) of the Credit Agreement is hereby amended in its entirety to
read as follows:

Payments Prior to Event of Default. At all times during which an Event of
Default has not occurred and is continuing, all amounts received by any
Administrative Agent from the Borrowers, shall be distributed by such
Administrative Agent in the following order of priority:

FIRST, pro rata, to the payment of (i) out-of-pocket costs and expenses
(including reasonable attorneys’ fees) of each Administrative Agent and the
Collateral Agent incurred by such Administrative Agent and the Collateral Agent
in connection with the enforcement of the rights of the Lender Group under the
Loan Documents pursuant to either Facility and (ii) any Agent Advances made by
the Revolving Facility Administrative Agent under or pursuant to the terms of
the Loan Documents and interest accrued thereon;

SECOND, pro rata, to the payment of any fees and reimbursable expenses then due
and payable to each Administrative Agent, the Issuing Bank or the Swing Line
Bank hereunder or under any other Loan Documents;

THIRD, pro rata, to the payment of all Obligations consisting of accrued fees
and interest then due and payable to the Lenders hereunder;

FOURTH, to the payment of principal then due and payable on the Loans and
unreimbursed Letter of Credit Obligations (or cash collateral up to 105% of
outstanding exposure) and to the payment of the Obligations arising in respect
of Bank Products then due and payable, on a pro rata basis;

FIFTH, to the payment of all other Obligations not otherwise referred to in this
Section 2.11(a) then due and payable; and

SIXTH, upon satisfaction in full of all Obligations, to the Borrowers or as
otherwise required by law.

(d) Section 2.11(b) of the Credit Agreement is hereby amended in its entirety to
read as follows:

Payments Subsequent to Event of Default. Notwithstanding anything in this
Agreement or any other Loan Document which may be construed to the contrary,
subsequent to the occurrence and during the continuance of an Event of Default,
payments and prepayments with respect to the Obligations made to the Lender
Group, or any of them, or otherwise received by any member of the Lender Group
(from realization on Collateral or otherwise) shall be distributed in the
following order of priority (subject, as applicable, to Section 2.10 and to the
terms and provisions of the Intercreditor Agreement):

 

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Amendment No. 1 to

Credit Agreement

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FIRST, pro rata, to the payment of (i) out-of-pocket costs and expenses
(including reasonable attorneys’ fees) of each Administrative Agent and the
Collateral Agent incurred in connection with the enforcement of the rights of
the Lender Group under the Loan Documents, and (ii) any Agent Advances made by
the Revolving Facility Administrative Agent under or pursuant to the terms of
the Loan Documents (including any costs incurred in connection with the sale or
disposition of any Collateral);

SECOND, pro rata, to payment of any fees owed to each Administrative Agent, the
Issuing Bank or the Swing Line Bank hereunder or under any other Loan Document;

THIRD, to the payment of out-of-pocket costs and expenses (including reasonable
attorneys’ fees) of the Lenders incurred in connection with the enforcement of
their respective rights under the Loan Documents;

FOURTH, to the payment of all Obligations consisting of accrued fees and
interest payable to the Lenders hereunder;

FIFTH, pro rata, to (i) the payment of principal on the Loans then outstanding,
(ii) the Letter of Credit Reserve Account to the extent of one hundred five
percent (105%) of any Letter of Credit Obligations then outstanding and (iii) to
the payment of any Obligation arising in respect of the Bank Products;

SIXTH, to any other Obligations not otherwise referred to in this
Section 2.11(b); and

SEVENTH, upon satisfaction in full of all Obligations, to the Borrowers or as
otherwise required by law.

SECTION 2. Reference to and Effect on the Loan Documents. On and after the
Effective Date, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement,
and each reference in the other Loan Documents to “the Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the “Credit
Agreement”, shall mean and be a reference to the Credit Agreement, as amended by
this Amendment.

(b) The Credit Agreement, as specifically amended by this Amendment, and the
other Loan Documents are, and shall continue to be, in full force and effect,
and are hereby in all respects ratified and confirmed.

(c) Except as expressly provided herein, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of any Lender or the Administrative Agents under the Credit
Agreement or any other Loan Document, nor shall it constitute a waiver of any
provision of the Credit Agreement or any Loan Document.

 

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Amendment No. 1 to

Credit Agreement

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SECTION 3. Conditions of Effectiveness. This Amendment shall become effective as
of the date (the “Effective Date”) on which the following conditions shall have
been satisfied (or waived):

(a) The Administrative Agents shall have received counterparts of this Amendment
executed by the Borrowers and the Lenders; and

(b) After giving effect to this Amendment and the transactions contemplated
hereby, the representations and warranties set forth in Article 5 of the Credit
Agreement (as amended by this Amendment) are true and correct in all material
respects as of the Effective Date, with the same effect as though made on and as
of such date, except to the extent such representations and warranties expressly
relate to an earlier date (in which case such representations and warranties
shall be true and correct in all material respects as of such earlier date) and
immediately prior to and after giving effect to the Effective Date, no Default
or Event of Default shall have occurred and be continuing.

SECTION 4. Representations and Warranties. Each of the Borrowers hereby
represents and warrants to the Administrative Agents that:

(a) on and as of the date hereof (i) it has all requisite corporate or other
power and authority to enter into and perform its obligations under this
Amendment, the Credit Agreement as amended hereby and the other Loan Documents
to which it is a party, and (ii) this Amendment has been duly authorized,
executed and delivered by it; and

(b) this Amendment, and the Credit Agreement as amended hereby, constitute
legal, valid and binding obligations of such party, enforceable against it in
accordance with their respective terms, subject only to any limitation under
Laws relating to (i) bankruptcy, insolvency, reorganization, moratorium or
creditors’ rights generally; and (ii) general equitable principles including the
discretion that a court may exercise in the granting of equitable remedies.

SECTION 5. Costs and Expenses. The Borrowers agree that all reasonable
out-of-pocket expenses incurred by the Administrative Agents in connection with
the preparation, execution, delivery and administration, modification and
amendment of this Amendment and the other instruments and documents to be
delivered hereunder or in connection herewith (including, without limitation,
the reasonable fees, charges and disbursements of counsel for the Administrative
Agents), are expenses that the Borrowers are required to pay or reimburse
pursuant to Section 11.2 of the Credit Agreement.

SECTION 6. Execution in Counterparts. This Amendment may be executed in one or
more counterparts (and by different parties hereto in different counterparts),
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Delivery by telecopier or other
electronic transmission of an executed counterpart of a signature page to this
Amendment shall be effective as delivery of an original executed counterpart of
this Amendment.

SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

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Amendment No. 1 to

Credit Agreement

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SECTION 8. WAIVER OF RIGHT OF TRIAL BY JURY. EACH PARTY TO THIS AMENDMENT HEREBY
EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER THIS AMENDMENT, OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO THE CREDIT AGREEMENT AS AMENDED HEREBY, OR THE TRANSACTIONS RELATED
THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 8 WITH ANY COURT AS WRITTEN
EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT
TO TRIAL BY JURY.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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Amendment No. 1 to

Credit Agreement

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IN WITNESS WHEREOF, the parties have caused this Amendment to Credit Agreement
to be executed by their respective authorized officers as of the date first
above written.

 

ZAYO GROUP, LLC,

as a Borrower

 

By   /s/ Ken desGarennes  

Name: Ken desGarennes

Title: Chief Financial Officer

ZAYO CAPITAL, INC.,

as a Borrower

 

By:   /s/ Ken desGarennes  

Name: Ken desGarennes

Title: Chief Financial Officer

 

Signature Page to Amendment No. 1 to

Credit Agreement

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MORGAN STANLEY SENIOR FUNDING, INC.,

as Term Facility Administrative Agent, as a Revolving Facility Lender and a Term
Facility Lender

By:   /s/ Reagan C. Philipp   Name: Reagan Philipp   Title: Authorized Signatory

 

Signature Page to Amendment No. 1 to

Credit Agreement

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SUNTRUST BANK,

as Revolving Facility Administrative Agent

and as a Revolving Facility Lender

By:   /s/ Nicholas Hahn   Name:   Nicholas Hahn   Title:     Director

 

Signature Page to Amendment No. 1 to

Credit Agreement

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BARCLAYS BANK PLC,

as a Revolving Facility Lender

By:   /s/ Gregory Fishbein   Name:  Gregory Fishbein   Title:     Assistant Vice
President

 

Signature Page to Amendment No. 1 to

Credit Agreement

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ROYAL BANK OF CANADA,

as a Revolving Facility Lender

By:   /s/ Kamran Khan   Name:   Kamran Khan   Title:     Authorized Signatory

 

Signature Page to Amendment No. 1 to

Credit Agreement

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GOLDMAN SACHS BANK USA,

as a Revolving Facility Lender

By:   /s/ Robert Ehudin   Name:   Robert Ehudin   Title:     Authorized
Signatory

 

Signature Page to Amendment No. 1 to

Credit Agreement

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UBS LOAN FINANCE LLC,

as a Revolving Facility Lender

By:   /s/ Irja R. Otsa   Name:   Irja R. Otsa   Title:     Associate Director
By:   /s/ Mary E. Evans   Name:   Mary E. Evans   Title:     Associate Director

 

Signature Page to Amendment No. 1 to

Credit Agreement

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PACIFIC LIFE FUNDS-PL FLOATING RATE INCOME FUND

By: Pacific Life Fund Advisors LLC

(dba Pacific Asset Management), in its capacity as Investment Advisor

as a Term Facility Lender

 

By:   /s/ James P. Leasure   Name:   James P. Leasure   Title:     Senior
Managing Director By:   /s/ Dale Hawley   Name:   Dale Hawley   Title:
    Assistant Secretary

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Luxor Capital Group L.P.

as a Term Facility Lender

By:       Name:   Title: Luxor Capital Group, L.P.

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Floating Rate Income Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Municipal Employees’ Annuity and Benefit Fund

of Chicago (Symphony)

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Credit Strategies Income Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Symphony Credit Opportunities Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Short Duration Credit Opportunities Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:

 

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Floating Rate Income Opportunity Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Principal Funds Inc, - Diversified Real Asset Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:  

/s/ James Kim

 

Name: James Kim

Title:   Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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SSF Trust

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Nuveen Senior Income Fund

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony Credit Opportunities Fund, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO II, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO IV, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO IX, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO V, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO VII, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony CLO VIII, LTD.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement

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Symphony Senior Loan Fund, L.P.

By: Symphony Asset Management LLC,

as a Term Facility Lender

By:   /s/ James Kim  

Name:  James Kim

 

Title:    Co-Head of Credit Research

 

Signature Page to Amendment No. 1 to

Credit Agreement