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Exhibit
10.2




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TABLE OF CONTENTS
 PageARTICLE IDefinitionsSECTION 1.01.
    
    Defined Terms
    
    
    1ARTICLE IIGuaranteeSECTION 2.01.
    
    Guarantee
    
    
    4SECTION 2.02.
    
    No Limitations
    
    
    4SECTION 2.03.
    
    Reinstatement
    
    
    5SECTION 2.04.
    
    Agreement To Pay; Subrogation
    
    
    5SECTION 2.05.
    
    Information
    
    
    5ARTICLE IIIIndemnity, Subrogation and SubordinationSECTION 3.01.
    
    Indemnity and Subrogation
    
    
    6SECTION 3.02.
    
    Subordination
    
    
    6ARTICLE IVMiscellaneousSECTION 4.01.
    
    Notices
    
    
    6SECTION 4.02.
    
    Waivers; Amendment
    
    
    7SECTION 4.03.
    
    Administrative Agent's Fees and Expenses; Indemnification
    
    
    8SECTION 4.04.
    
    Successors and Assigns
    
    
    8SECTION 4.05.
    
    Counterparts; Effectiveness; Several Agreement
    
    
    8SECTION 4.06.
    
    Severability
    
    
    9SECTION 4.07.
    
    Right of Set-Off
    
    
    9SECTION 4.08.
    
    Governing Law; Jurisdiction; Consent to Service of Process
    
    
    9SECTION 4.09.
    
    WAIVER OF JURY TRIAL
    
    
    10SECTION 4.10.
    
    Headings
    
    
    10SECTION 4.11.
    
    Taxes
    
    
    11SECTION 4.12.
    
    Guarantee Absolute
    
    
    12SECTION 4.13.
    
    Termination or Release
    
    
    12




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NNI Borrower NNC NNL Guarantors Guarantor
 Credit Agreement Administrative Agent
    ARTICLE I
 Definitions
 Defined Terms
 Administrative Agent
 Affiliate Controlling Person




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Agreement
 Bank Termination Date
    Contingent Obligation
 Credit Agreement
 Credit Party
 EDC
 EDC Facility
 EDC Facility Guaranteed Obligations
 Guaranteed Obligations
 2




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Guaranteed Party
 Guarantor
 Lender
 Loan Loans
 Loan Document
 NNC Guaranteed Obligations
 NNI Guaranteed Obligations
 NNL Guaranteed Obligations
 Non-Contingent Obligation
 Obligors
 Participant
 Post-Petition Interest
 Required Lenders provided
 3




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Specified Event of Default
 Tranche A Lender
 Tranche A Loan
 Tranche A Guaranteed Obligations
 Tranche B Lender
 Tranche B Loan
 Tranche B Guaranteed Obligations
 ARTICLE II
 Guarantee
 Guarantee
 No Limitations
 4




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Reinstatement
 Agreement To Pay; Subrogation
  5




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Information
 ARTICLE III
 Indemnity, Subrogation and Subordination
 Indemnity and Subrogation
 Subordination
 ARTICLE IV
 Miscellaneous
 Notices
  
 6




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provided
  Waivers; Amendment
 7




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Administrative Agents Fees and Expenses; Indemnification
 Indemnitee provided
 Successors and Assigns
 8




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Counterparts; Effectiveness; Several Agreement
 Severability
 Right of Set-Off
 9




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Governing Law; Jurisdiction; Consent to Service of
Process
    WAIVER OF JURY TRIAL
 10




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Headings
 Taxes
 Guarantee Absolute
 Termination or Release
    11




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12




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NORTEL NETWORKS INC., as Borrower
and GuarantorBy:
    /s/  Karen SledgeName:
    Karen SledgeTitle:
    PresidentNORTEL NETWORKS 
CORPORATION,as GuarantorBy:

/s/  Gordon DaviesName:
    Gordon DaviesTitle:
    General Counsel  Corporate
and Corporate SecretaryBy:

/s/  Katharine B. StevensonName:
    Katharine B. StevensonTitle:
    TreasurerNORTEL NETWORKS LIMITED,
as GuarantorBy:

/s/  Gordon DaviesName:
    Gordon DaviesTitle:
    General Counsel  Corporate
and Corporate SecretaryBy:

/s/  Katharine B. StevensonName:
    Katharine B. StevensonTitle:
    Treasurer 13




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JPMORGAN CHASE BANK, N.A., as
Administrative Agent,By:

/s/  David
M. MallettName:
    David M. MallettTitle:
    Vice President 14




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EXPORT DEVELOPMENT CANADA, 
     as provider of the EDC Support 
     FacilityBy:

/s/  David
B. GuyName:
    David B. GuyTitle:
    Director-TelecomBy:

/s/  Michael
J. FortnerName:
    Michael J. FortnerTitle:
    Financial Services Manager 15