Document:

<PAGE>

          PURCHASE AGREEMENT dated as of December 19, 2003, among LEUCADIA
NATIONAL CORPORATION or one of its affiliates (the "Investor"); JPMORGAN CHASE
BANK, in its capacity as Administrative Agent (the "Administrative Agent") and
in its capacity as Collateral Agent (the "Collateral Agent"); and JPMORGAN CHASE
BANK; AMERICA ONLINE, INC.; GOLDMAN SACHS CREDIT PARTNERS L.P.; and MORGAN
STANLEY SENIOR FUNDING, INC., as lenders (the "Lenders") under the Credit
Agreement dated as of September 28, 2000, as amended and restated as of April
11, 2001, and amended by the First Amendment dated as of October 31, 2001, the
Second Amendment dated as of December 14, 2001, the Third Amendment dated as of
March 29, 2002 and the Fourth Amendment dated as of March 31, 2003 (as further
amended, restated or otherwise supplemented from time to time, the "Credit
Agreement"), among CCL HISTORICAL, INC., formerly named CoreComm Limited (the
"Parent"); ATX COMMUNICATIONS, INC., formerly named CoreComm Holdco, Inc.
("CCI"); CORECOMM COMMUNICATIONS, INC. (the "Borrower" and, together with the
Parent and CCI, the "Loan Parties"), the Lenders and the Administrative Agent.

          A. The Investor desires to purchase from the Lenders all of the
principal amount then outstanding under the Credit Agreement, together with any
and all accrued interest, costs, expenses, penalties, fees thereon or related
thereto and any and all obligations arising thereunder, including, but not
limited to, any and all liquidated, liquidating or unliquidated claims in
connection therewith as of the date above (the "Senior Indebtedness") for
$25,000,000.00 (the "Purchase Price").

          B. The undersigned Lenders are willing, on the terms and subject to
the conditions set forth herein, to sell the Senior Indebtedness to the
Investor.

          C. Such sale of the Senior Indebtedness requires the consent of the
Borrower pursuant to Section 9.04(b) of the Credit Agreement.

          D. JPMorgan Chase Bank desires, upon such sale of the Senior
Indebtedness, to resign as Administrative Agent.

          In consideration of the premises and the agreements, provisions and
covenants herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree, on the terms and subject to the conditions set forth herein, as
follows:

          SECTION 1. Purchase of Senior Indebtedness. Notwithstanding any other
agreement between the Investor and the Borrower, each Lender hereby sells,
assigns, transfers and conveys all of its ownership and other interests in the
Senior Indebtedness to the Investor, and the Investor hereby purchases and
accepts all of the Senior Indebtedness from the Lenders by making, on or before
the date hereof, a wire transfer of immediately available funds in the amount of
the Purchase Price to JPMorgan Chase Bank, acting as agent for the undersigned
Lenders, into such account as JPMorgan Chase Bank may specify by prior written
notice.

<PAGE>

          SECTION 2. Mutual Release. Upon consummation of the sale of the Senior
Indebtedness to the Investor as contemplated herein, each Lender shall be
released in full from its obligations under the Credit Agreement and none of the
Lenders will have any rights to or with respect to any of the Senior
Indebtedness and/or any of the obligations, rights or privileges related thereto
or arising thereunder and/or under the Credit Agreement. Further, upon
consummation of such sale as contemplated herein, (a) each Lender shall be
deemed to have automatically, irrevocably and fully released the Loan Parties
and any direct or indirect parent entities, subsidiaries, predecessors,
successors, affiliates, officers or directors of any Loan Party (collectively,
the "Borrower Releasees") and (b) the Borrower Releasees shall be deemed to have
automatically, irrevocably and fully released each Lender, in each case, from
any and all liability arising under or in any way relating to the Senior
Indebtedness and/or the Credit Agreement, except, in each case, to the extent
resulting from the bad faith, gross negligence or willful misconduct of any such
Person. For the purposes of this Section 2 only, the Borrower Releasees shall be
deemed third party beneficiaries with direct rights to enforce this Section 2
against any or all of the Lenders.

          Notwithstanding anything to the contrary contained in this Section 2
or elsewhere in this Agreement, in the event that any Borrower Releasee, or any
trustee or other representative of the estate or creditors of any Borrower
Releasee, commences an adversary proceeding or other proceeding or action
against any Lender in respect of any liability released (the "Released
Liability") under this Section 2 (including, without limitation, any action to
recover or avoid any payment or other transfer to or for the benefit of such
Lender under Section 544, 547, 548, 549, 550 or 553 of the Bankruptcy Code) then
(a) the release given by such Lender in favor of such Borrower Releasee (but not
other Borrower Releasees) pursuant to this Section 2 shall be deemed immediately
null and void; provided that the amount of any actual recovery by such Lender
from such Borrower Releasee shall be limited to the amount of any actual
recovery against such Lender in respect of the Released Liability (for the
avoidance of doubt, this proviso limits the amount of the actual recovery that
may be realized by such Lender but does not limit the amount of the claim that
may be asserted by such Lender), and (b) any claim arising in such Lender's
favor as a result of any recovery against such Lender in respect of the Released
Liability shall be excluded from the Senior Indebtedness purchased by the
Investor.

          SECTION 3. Representations and Warranties of the Investor. The
Investor represents and warrants to the Administrative Agent and the Lenders as
to itself and not to any other party hereto, that:

          (a) it has full power and legal right to execute and deliver this
Agreement and to perform its obligations hereunder;

          (b)this Agreement has been duly executed and delivered by it and
constitutes a legal, valid and binding obligation of such Investor, enforceable
against it in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting
creditors' rights generally

<PAGE>

and subject to general principles of equity, regardless of whether considered in
a proceeding in equity or at law; and

          (c) it has, independently and without reliance upon the Administrative
Agent, the Collateral Agent or any Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Agreement and purchase the Senior Indebtedness.

          SECTION 4. Representations and Warranties of the Lenders. Each Lender
represents and warrants to the Investor as to itself and not to any other party
hereto, that:

          (a) it has full power and legal right to execute and deliver this
Agreement and to perform its obligations hereunder;

          (b) this Agreement has been duly executed and delivered by it and
constitutes a legal, valid and binding obligation of such Lender, enforceable
against it in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting
creditors' rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law;

          (c) it has the right to transfer good, valid and marketable title in
and to that portion of the Senior Indebtedness listed after its name on Annex A
hereto, free and clear of any mortgages, pledges, charges, liens, security
interests or other encumbrances; and

          (d) as of the date of this Agreement, the Senior Indebtedness totaled
no less than $156,100,000, and neither it nor, to the best of its knowledge, its
counsel has received any written notice, or to the best of its knowledge any
other actual notice, asserting that the Senior Indebtedness, or any portion
thereof, and/or the related security interests created in favor of the
Collateral Agent, are void, voidable, unenforceable, or subject to any
Impairment. For purposes of this representation, the term "Impairment" means any
claim, counterclaim, setoff, defense, action, demand, litigation (including
administrative proceedings or derivative actions), encumbrance, right,
(including expungement, avoidance, reduction, contractual or equitable
subordination, or otherwise) or defect, other than those created pursuant to the
Loan Documents (as defined in the Credit Agreement), the effect of which does,
or would, materially and adversely affect the Senior Indebtedness. For avoidance
of doubt, the parties agree that the proceedings commenced and other actions
taken by Easton Telecom Services, L.L.C. to collect the debt allegedly owed to
it by certain of the Loan Parties or their affiliates does not constitute an
Impairment.

          Other than as specifically set forth in this Section 4, the Investor
acknowledges and agrees that its purchase of the Senior Indebtedness is made
without any representation or warranty from the Lenders and without recourse to
the Lenders.

<PAGE>

          SECTION 5. Representations and Warranties of the Collateral Agent. The
Collateral Agent represents and warrants to the Investor as to itself and not to
any other party hereto, that, as of the date of this Agreement, neither the
Collateral Agent nor, to the best of its knowledge, its counsel has received any
written notice, or to the best of its knowledge any other actual notice,
asserting that the security interests created in favor of the Collateral Agent
in connection with the Credit Agreement are void, voidable, unenforceable, or
subject to any Impairment. For purposes of this representation, the term
"Impairment" means any claim, counterclaim, setoff, defense, action, demand,
litigation (including administrative proceedings or derivative actions),
encumbrance, right, (including expungement, avoidance, reduction, contractual or
equitable subordination, or otherwise) or defect, other than those created
pursuant to the Loan Documents (as defined in the Credit Agreement), the effect
of which does, or would, materially and adversely affect the Senior
Indebtedness. For avoidance of doubt, the parties agree that the proceedings
commenced and other actions taken by Easton Telecom Services, L.L.C. to collect
the debt allegedly owed to it by certain of the Loan Parties or their affiliates
does not constitute an Impairment.

Other than as specifically set forth in this Section 5, the Investor
acknowledges and agrees that its purchase of the Senior Indebtedness is made
without any representation or warranty from the Collateral Agent and without
recourse to the Collateral Agent. Furthermore, notwithstanding the
representations and warranties set forth in this Section 5, the Collateral Agent
shall in no event have any liability to the Investor, the Borrower, any other
Borrower Releasee or any Lender in the absence of its gross negligence or
willful misconduct.

          SECTION 6. Resignation of Administrative Agent. Upon consummation of
the sale of the Senior Indebtedness to the Investor as contemplated herein,
JPMorgan Chase Bank hereby resigns as Administrative Agent and the Investor is
appointed as Administrative Agent. The Lenders, the Investor and the Borrower
hereby consent to the appointment of the Investor as Administrative Agent, and
the Investor hereby accepts its appointment as Administrative Agent, upon the
effectiveness of JPMorgan Chase Bank's resignation as Administrative Agent.

          SECTION 7. Collateral Agent. Notwithstanding the resignation of
JPMorgan Chase Bank as Administrative Agent pursuant to Section 6 hereof,
JPMorgan Chase Bank shall, upon consummation of the sale of the Senior
Indebtedness to the Investor as contemplated herein, remain as Collateral Agent;
provided that (a) except as specifically set forth in this Section, the rights
and obligations of JPMorgan Chase Bank as Collateral Agent in connection with
the Credit Agreement shall remain operative and in full force and effect,
including, but not limited to, all rights of expense reimbursement, exculpation
and indemnification, all rights set forth in Article VIII of the Credit
Agreement and all rights and obligations set forth in the Security Documents (as
defined in the Credit Agreement), (b) the Investor agrees that it shall not, nor
agree to, waive, amend or modify the Credit Agreement in a manner that affects
the rights or duties of the Collateral Agent without the prior written consent
of the Collateral Agent and (c) the Investor agrees to reimburse the Collateral
Agent for all fees and expenses owing to the

<PAGE>

Collateral Agent pursuant to the Credit Agreement or any Security Document (as
defined in the Credit Agreement) that are not paid by the Borrower when due.

          SECTION 8. Notices. All notices and other communications provided for
herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by telecopy, as follows:

          (a) if to the Investor:

                          Leucadia National Corporation
                             Attention: Joe Orlando
                              315 Park Avenue South
                               New York, NY 10010
                            Telecopy No. 212/598-3241

                                 With a copy to:

                         Stutman, Treister & Glatt P.C.
                    Attention: Jeffrey Krause & Eric Goldberg
                      1901 Avenue of the Stars, 12th floor
                              Los Angeles, CA 90067
                           Telecopy No. 310/ 228-5788

          (b) if to the Administrative Agent or Collateral Agent, as provided in
the Credit Agreement.

          (c) Any party hereto may change its address or telecopy number of
notices and other communications hereunder by notice to the other parties
hereto. All notices and other communications given to any party hereto in
accordance with the provisions of this Agreement shall be deemed to have been
given on the date of receipt.

          SECTION 9. Waivers; Amendments.

          (a) No failure or delay by the Administrative Agent, Collateral Agent
or any Lender exercising any right or power hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power, or
any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other
right or power. No waiver of any provision of this Agreement or consent to any
departure by the Borrower or any Investor therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section,
and then such waiver or consent shall be effective only in the specific instance
and for the purpose for which given.

          (b) Neither this Agreement nor any provision hereof may be waived,
amended or modified except pursuant to an agreement in writing entered into by
the Investor and JPMorgan Chase Bank, acting with the consent of the Required
Lenders (as determined immediately prior to the sale of the Senior Indebtedness
to the Investors as contemplated herein), and to which the Borrower has given
its consent.

<PAGE>

          SECTION 10. Successors and Assigns. The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Person that
hereafter becomes a Lender under the Credit Agreement and any successor
Administrative Agent or Collateral Agent under the Credit Agreement).

          SECTION 11. Counterparts; Integration. This Agreement may be executed
in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Agreement constitutes the entire
contract among the parties relating to the subject matter hereof and supersedes
any and all previous agreements and understandings, oral or written, relating to
the subject matter hereof. This Agreement shall become effective when it shall
have been executed by the Administrative Agent and when the Administrative Agent
shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be effective
as delivery of a manually executed counterpart of this Agreement.

          SECTION 12. Severability. Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity or a particular provision in
a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.

          SECTION 13. No Construction Against Drafter. This Agreement has been
fully negotiated by the parties hereto and the parties hereto intend that the
rule of contract construction that ambiguities shall be construed against the
drafter shall not be applied in the interpretation of this agreement.

          SECTION 14. Governing Law; Jurisdiction; Consent to Service of
Process.

          (a) This Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York.

          (b) Each of the parties hereto hereby irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of the
Supreme Court of the State of New York sitting in New York County and of the
United States District Court of the Southern District of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement, or for recognition or enforcement of any judgment,
and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such
Federal court. Each of the parties hereto agrees that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law.

<PAGE>

Nothing in this Agreement or any other document shall affect any right that the
Administrative Agent or any Lender may otherwise have to bring any action or
proceeding relating to this Agreement against any party hereto or its properties
in the courts of any jurisdiction.

          (c) Each of the parties hereto hereby irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit,
action or proceeding arising out of or relating to this Agreement in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such
court.

          (d) Each party to this Agreement irrevocably consents to service of
process in the manner provided for notices in Section 8. Nothing in this
Agreement or any document will affect the right of any party to this Agreement
to serve process in any other manner permitted by law.

          SECTION 15. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, ADMINISTRATIVE AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

          SECTION 16. Defined Terms. Capitalized terms that are used but not
defined herein shall have the meanings given to them in the Credit Agreement as
in effect on the date hereof.<PAGE>

          FIFTH AMENDMENT dated as of December 19, 2003 (this "Amendment"), to
the Credit Agreement dated as of September 28, 2000, as amended and restated as
of April 11, 2001, and amended by the First Amendment dated as of October 31,
2001, the Second Amendment dated as of December 14, 2001, the Third Amendment
dated as of March 29, 2002 and the Fourth Amendment dated as of March 31, 2003
(as further amended, restated or otherwise supplemented from time to time, the
"Credit Agreement"), by and among CCL Historical, Inc., formerly named CoreComm
Limited (the "Parent"), ATX Communications, Inc., formerly named CoreComm
Holdco, Inc. ("CCI" ), CoreComm Communications, Inc. (the "Borrower"), the
guarantors of the obligations under the Credit Agreement (the "Guarantors" and
collectively with the Parent, CCI and the Borrower, the "Loan Parties"), the
lenders party thereto at the date of each agreement, including without
limitation Leucadia National Corporation or one of its affiliates ("LEUCADIA"),
the buyer of all of the claims under the Credit Agreement contemporaneously with
the execution of this amendment (collectively, the "Lenders"), and LEUCADIA as
the successor administrative agent under the Credit Agreement.

          WHEREAS, the Loan Parties (such term and other capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to such
terms in the Credit Agreement) currently owe $50,000,000 under the Revolving
Commitment and $106,100,000 under the Term Loans under the Credit Agreement (the
"Acknowledged Debt"); and

          WHEREAS, solely for purposes of this Amendment, the Loan Parties
acknowledge that in light of current circumstances, certain covenants under the
Credit Agreement have been or could be breached in the future, including the
covenants listed in Exhibit A attached hereto and incorporated herein by this
reference (the "Acknowledged Defaults"); and

          WHEREAS, LEUCADIA has purchased all of the claims of all of the
Lenders under the Credit Agreement and substituted in as successor
Administrative Agent in reliance on this Agreement and the other Agreements
referenced in Section 6, below, including without limitation the Loan Parties'
representations that (i) the Acknowledged Debt is now due and owing, without
offset, counterclaim or defense, and (ii) the Acknowledged Defaults constitute a
complete list of all existing defaults under the Credit Agreement; and

          WHEREAS, but for this Amendment LEUCADIA would have the absolute right
to cease all further advances under the Revolving Commitment, accelerate the
balances due under the Credit Agreement and enforce all of its rights against
the collateral pledged under the Credit Agreement, as the direct result of the
Acknowledged Defaults; and

          WHEREAS, the Loan Parties have requested that LEUCADIA approve
amendments to certain provisions of the Credit Agreement and forbear from
enforcing certain rights during the term of this Amendment; and

          WHEREAS, LEUCADIA is willing, on the terms and subject to the
conditions set forth herein, to approve such amendments and forbear from
enforcing certain rights under the Credit Agreement through and including the
"Termination Date" as defined in Section 2, below;

<PAGE>

          ACCORDINGLY, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto agree as follows:

          1. Acknowledgement of Debt and Defaults. The Loan Parties represent
and warrant that to the best of their knowledge the Acknowledged Debt is now due
and owing under the Credit Agreement, without any counterclaim, defense or
offset of any kind, and is secured by the Collateral, as defined in the Credit
Agreement and related documents. The Loan Parties further represent and warrant
that to the best of their knowledge (a) except with respect to current waivers
of defaults, the Acknowledged Defaults have occurred and, but for this
Amendment, would entitle the Lenders to immediately terminate all further
advances under the Credit Agreement and enforce their rights under the Credit
Agreement, and (b) no Defaults other than the Acknowledged Defaults currently
exist under the Credit Agreement.

          2. Forbearance. Upon effectiveness of this Amendment in accordance
with Section 6 hereof, LEUCADIA agrees to forbear from enforcing its rights
under the Credit Agreement based on any of the Acknowledged Defaults, which have
been (i) publicly disclosed pursuant to the public filings of CCI made prior to
the date hereof, (ii) disclosed to LEUCADIA (including. without limitation, by
way of financial or operating projections provided to LEUCADIA) prior to the
date hereof or (iii) potential future Defaults with respect to the fourth
quarter 2003 minimum cash flow (Section 6.27 of the Credit Agreement), EBITDA
(Section 6.18 of the Credit Agreement) and capital expenditure (Section 6.23 of
the Credit Agreement) covenants in the Credit Agreement ("Disclosed Acknowledged
Defaults"), until the earliest of (a) February 2, 2004, or (b) the date a
petition under any chapter of title 11 of the United States Code is filed by or
against any of the Loan Parties (the earliest of a and b, the "Termination
Date"). This forbearance shall not apply to any material Default or Event of
Default that is not a Disclosed Acknowledged Default. Notwithstanding anything
contained herein to the contrary, any waivers already granted under the Credit
Agreement prior to the date hereof remain in full force and effect.

          3. Amendment of Credit Agreement. Upon the effectiveness of this
Amendment in accordance with Section 6 hereof, the Credit Agreement is hereby
amended as follows:

          (a) Schedule 2.01 of the Credit Agreement is hereby amended to provide
     that the total Revolving Commitment shall remain unchanged through the
     Termination Date, so that the Loan Parties shall not be required to pay
     down the Revolving Commitment but LEUCADIA shall not be required to make
     any new advances pursuant to the Credit Agreement; provided, however, the
     foregoing shall not affect or limit the Company's ability to use cash
     collateral in accordance with Section 3(b) hereof.

          (b) Upon commencement of chapter 11 bankruptcy cases by the Loan
     Parties (unless LEUCADIA and the Company mutually agree that commencement
     of a chapter 11 case for a particular Loan Party is not needed), (i)
     LEUCADIA shall make available for use by the Loan Parties as a debtor in
     possession new debtor in possession financing of $5 million pursuant to the
     terms of mutually acceptable loan documents and a mutually acceptable
     debtor in possession borrowing order on terms no less favorable to the

<PAGE>

     Company than those set forth in the Debtor in Possession Loan Agreement and
     the Debtor in Possession Borrowing Order attached hereto as Exhibit B and C
     respectively; and (ii) LEUCADIA will consent to the use - of its cash
     collateral in such amounts as are required by the budget delivered to
     LEUCADIA on December __, 2003 (the "Budget"), so long as the Bankruptcy
     Court enters its order providing LEUCADIA with adequate protection, on the
     terms no less favorable to the Company than those contained in the form of
     agreement attached hereto as Exhibit D.

          4. No Other Amendments; Confidentiality. Except as expressly amended
hereby, the provisions of the Credit Agreement and each other Loan Document are
and shall remain in full force and effect. Nothing herein shall be deemed to
entitle any Loan Party to a consent to, or a waiver, amendment, modification or
other change of, any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any Loan Document in similar or
different circumstances.

          5. Representations and Warranties. After giving effect to this
Amendment, each Loan Party hereby represents and warrants to the Agent and the
Lenders that:

          (a) Except as set forth in Exhibit D to this Amendment, all material
     representations and warranties of each Loan Party set forth in the Loan
     Documents are true and correct in all material respects as of the date
     hereof, except to the extent (i) otherwise publicly disclosed pursuant to
     the public filings of CCI made prior to the date hereof, (ii) otherwise
     disclosed to LEUCADIA prior to the date hereof, and (iii) that any
     representation or warranty relates to an earlier date (in which case such
     representation or warranty is true and correct in all material respects as
     of such earlier date).

          6. Conditions Precedent to Effectiveness. This Amendment shall become
effective on the date on which each of the following conditions is satisfied
(the "Effective Date"):

          (a) LEUCADIA shall have acquired the rights of the Lenders under the
     Credit Agreement pursuant to the Purchase Agreement of even date herewith.

          (b) LEUCADIA and the Loan Parties shall have executed the Conversion
     Agreement, the form of which is attached as Exhibit E hereto.

          (c) The Collateral Agent and LEUCADIA shall have each received
     counterparts hereof in accordance with Section 7(b) hereof duly executed
     and delivered by the Parent, CCI, the Borrower, each of the other Loan
     Parties, the Collateral Agent and LEUCADIA.

          7. Governing Law: Counterparts.

          (a) This Amendment shall be governed by and construed in accordance
     with the laws of the State of New York.

          (b) This Amendment may be executed by one or more of the parties to
     this Amendment on any number of separate counterparts, and all of such
     counterparts taken

<PAGE>

     together shall he deemed to constitute one and the same instrument. This
     Amendment may be delivered by facsimile transmission of the signature pages
     hereof.

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