Document:

<PAGE>   1

                                                                   EXHIBIT 10.14

                                                                  EXECUTION COPY

                           AMENDMENT AND WAIVER NO. 1
                  TO THE AMENDED AND RESTATED CREDIT AGREEMENT

                                                   Dated as of November 15, 1999

          AMENDMENT AND WAIVER NO. 1 TO THE AMENDED AND RESTATED CREDIT
AGREEMENT (this "Amendment") among Classic Cable, Inc., a Delaware corporation
(the "Borrower"), the banks, financial institutions and other institutional
lenders parties to the Credit Agreement referred to below (collectively, the
"Lenders") and Union Bank of California, N.A., as agent (the "Agent") for the
Lenders.

          PRELIMINARY STATEMENTS:

          (1) The Borrower, the Lenders, the Agent, Goldman Sachs Credit
Partners L.P., as Lead Arranger and Syndication Agent, and The Chase Manhattan
Bank, as Documentation Agent, have entered into an Amended and Restated Credit
Agreement dated as of July 28, 1999 (the "Credit Agreement"). Capitalized terms
not otherwise defined in this Amendment have the same meanings as specified in
the Credit Agreement.

          (2) The Borrower has proposed to enter into an agreement with Star
Cable Associates Inc. ("Star Cable") to purchase all of the cable systems
currently owned by Star Cable for approximately $130,000,000 in cash and stock
(the "Star Acquisition"). The Borrower has requested that the Majority Lenders
waive Section 6.7(h)(i) of the Credit Agreement to the extent that the
consideration for the proposed acquisition exceeds the amount permitted by such
Section.

          (3) The Borrower has further requested that the Majority Lenders agree
to extend the period of 90 days after the Closing Date for the delivery of a
pledged account letter as provided in Section 6(a) of the Security Agreement for
an additional 90 days.

          (4) The Majority Lenders are, on the terms and conditions stated
below, willing to grant the request of the Borrower and to amend the limitation
on Capital Expenditures set forth in Section 6.1(f) of the Credit Agreement as
hereinafter set forth.

          SECTION 1. Waivers. Effective as of the date hereof and subject to the
satisfaction of the conditions precedent set forth in Section 3, the Majority
Lenders hereby agree (a) to consent to the proposed Star Acquisition and to
waive the limitation set forth in Sections 2.7(c)(i)(B) and 6.7(h)(i)(1) of the
Credit Agreement solely to the extent required to permit the Borrower to
consummate the Star Acquisition, (b) to waive the limitation set forth in clause
(iv) of the proviso to the definition of "Equity Offering" set forth in Section
1.1 of the Credit Agreement solely to permit the Borrower to apply the proceeds
of any issuance or sale of stock in the Borrower or capital contribution to the
Borrower made after the date hereof to the

<PAGE>   2

purchase price of the Star Acquisition without regard to the requirement that
such proceeds be applied to a Permitted Acquisition within 10 Business Days of
receipt and (c) to consent to extend the period set forth in Section 6(a) of the
Security Agreement for an additional 90 days.

          SECTION 2. Amendment to the Credit Agreement. Effective as of the date
hereof and subject to the satisfaction of the conditions precedent set forth in
Section 3, the Majority Lenders hereby agree to amend the Credit Agreement as
follows:

     (a) Section 2.21(a) is amended (i) by deleting the figure "$25,000,000" and
substituting therefor the figure "$10,000,000" and (ii) by restating clause (i)
of the proviso thereof in full to read "(i) in no event shall the Aggregate Term
C Commitment be more than (x) $100,000,000 at any time prior to the consummation
after November 15, 1999 of an Equity Offering the Net Proceeds of which exceed
$140,000,000 or (y) $200,000,000 at any time thereafter".

     (b) Section 6.1(f) is amended in full to read as follows:

          (f) Maximum Capital Expenditures. Permit Capital Expenditures of the
     Borrower and its Subsidiaries to be more than the following levels during
     the periods indicated:

<TABLE>
<CAPTION>
Period                                                               Maximum Amount
------                                                               --------------
<S>                                                                  <C>
Closing Date to December 31, 1999                                    $25,000,000
Fiscal Year Ending December 31, 2000                                 $50,000,000
Fiscal Year Ending December 31, 2001                                 $70,000,000
Fiscal Year Ending December 31, 2002                                 $55,000,000
Each Fiscal Year thereafter                                          $25,000,000
</TABLE>

          Notwithstanding the foregoing, in the event the Borrower and its
     Subsidiaries do not, in any fiscal year, exhaust such amount with respect
     to such fiscal year, such excess amount may be used to make, or commit to
     make, Capital Expenditures in the immediately following fiscal year, but
     not thereafter.

          SECTION 3. Conditions of Effectiveness. (a) Section 1 and 2(a) of this
Amendment shall become effective as of the date first above written when, and
only when, (i) the Agent shall have received counterparts of this Amendment
executed by the Borrower and the Majority Lenders or, as to any of the Lenders,
advice satisfactory to the Agent that such Lender has executed this Amendment
and the consent attached hereto executed by each Guarantor and (ii) the Borrower
shall have paid all accrued fees and expenses of the Facility Agents (including
reasonable fees and expenses of counsel to the Lead Arranger), and (b) Section
2(b) of this Amendment shall become effective on and as of the date upon which
the Agent shall have received written notice from the Borrower of the
consummation of the Star Acquisition. This Amendment is subject to the
provisions of Section 9.1 of the Credit Agreement.

                                       2
<PAGE>   3

          SECTION 4. Representations and Warranties of the Borrower. The
Borrower represents and warrants as follows:

     4.1 Organization and Good Standing. The Borrower and each Subsidiary (a)
is duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization, (b) has all requisite power and authority
(corporate, partnership, limited liability company and otherwise) to own its
properties and to conduct its business as now conducted and as currently
proposed to be conducted and (c) is duly qualified to conduct business as a
foreign organization and is currently in good standing in each state and
jurisdiction in which it conducts business.

     4.2 Power and Authority. The Borrower and each Subsidiary has all
requisite power and authority under applicable law and under its Organic
Documents to (i) in the case of the Borrower, borrow hereunder and to consummate
the Star Acquisition in accordance with the terms of the acquisition agreement
related thereto and (ii) to execute, deliver and perform its respective
obligations under the Loan Documents to which it is a party. All actions,
waivers and consents (corporate, regulatory and otherwise) necessary or
appropriate for the Borrower and each Subsidiary to execute, deliver and perform
this Amendment, the Consent and the Loan Documents to which it is a party and,
except for regulatory approvals and franchisee consents yet to be obtained (all
of which the Borrower anticipates will be obtainable in the ordinary course),
for the Borrower to consummate the Star Acquisition in accordance with the terms
of the acquisition agreement related thereto, and have been taken and/or
received.

     4.3 Validity and Legal Effect. This Amendment and the Credit Agreement, as
modified hereby, constitutes, and the other Loan Documents, as amended hereby,
to which the Borrower or any Subsidiary is a party constitute (or will
constitute when executed and delivered), the legal, valid and binding
obligations of the Borrower or such Subsidiary, as applicable, enforceable
against it in accordance with the terms thereof, except as such enforceability
may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or
similar laws of general applicability affecting the enforcement of creditors'
rights and (b) the application of general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

     4.4 No Violation of Laws or Agreements. The execution, delivery and
performance of this Amendment and the Loan Documents and the consummation of the
Star Acquisition in accordance with the terms of the acquisition agreement
related thereto (a) will not violate or contravene any Requirement of Law, (b)
will not result in any material breach or violation of, or constitute a material
default under, any agreement or instrument by which the Borrower or any
Subsidiary, or any of its property, may be bound, and (c) will not result in or
require the creation of any Lien (other than those permitted by Section 6.3 of
the Credit Agreement) upon or with respect to any property of the Borrower or
any Subsidiary, whether such property is now owned or hereafter acquired.

     4.5 Litigation and Legal Proceedings. Except as disclosed on Schedule 3.10
to the Credit Agreement, there is no litigation, claim, investigation,
administrative proceeding, labor controversy or similar action that is pending
or, to the knowledge of the Borrower, threatened (i) with respect to this
Amendment or any Loan Document or the transactions contemplated

                                       3
<PAGE>   4

thereby, (ii) with respect to the Star Acquisition or the transactions
contemplated by the acquisition agreement related thereto or (iii) against the
Borrower, any Subsidiary or any Property that (in the case of this clause
(iii)), if adversely resolved, could (either individually or in the aggregate)
have a Material Adverse Effect.

          SECTION 5. Reference to and Effect on the Loan Documents. (a) On and
after the effectiveness of this Amendment, each reference in the Credit
Agreement or the Security Agreement to "this Agreement", "hereunder", "hereof"
or words of like import referring to the Credit Agreement or the Security
Agreement, as the case may be, and each reference in the Notes and each of the
other Loan Documents to "the Credit Agreement", the "Security Agreement",
"thereunder", "thereof" or words of like import referring to the Credit
Agreement or the Security Agreement, as the case may be, shall mean and be a
reference to the Credit Agreement or the Security Agreement, as modified by this
Amendment.

          (b) The Credit Agreement, the Security Agreement, the Notes and each
of the other Loan Documents, as specifically amended by this Amendment, are and
shall continue to be in full force and effect and are hereby in all respects
ratified and confirmed. Without limiting the generality of the foregoing, the
Collateral Documents and all of the Collateral described therein do and shall
continue to secure the payment of all Obligations of the Loan Parties under the
Loan Documents, in each case as amended by this Amendment.

          (c) The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.

          SECTION 6. Costs and Expenses. The Borrower agrees to pay on demand
all costs and expenses of the Agent 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
(including, without limitation, the reasonable fees and expenses of counsel for
the Agent) in accordance with the terms of Section 9.5 of the Credit Agreement.

          SECTION 7. Execution in Counterparts. This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by
telecopier shall be effective as delivery of a manually executed counterpart of
this Amendment.

                                       4
<PAGE>   5

          SECTION 8. Governing Law. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

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

                                      CLASSIC CABLE, INC.

                                      By /s/ Steven E. Seach
                                         ---------------------------------------
                                      Title:

AGREED:

UNION BANK OF CALIFORNIA, N.A.,
as Agent and as Lender

By [/s/ An authorized signatory of Union Bank of California, N.A.]
   ----------------------------------------------------------------
Title:   Assistant Vice President

GOLDMAN SACHS CAPITAL PARTNERS L.P.

By  /s/ Stephen B. King
   -------------------------------
Title:

THE CHASE MANHATTAN BANK

By [/s/ An authorized signatory of The Chase Manhattan Bank]
  ----------------------------------------------------------------
Title:

                                       5
<PAGE>   6

AGREED:

PARIBAS

By  /s/  Lynne Randall
   ----------------------------
Title:  Managing Director

By  /s/  Sean Faherty
   ----------------------------
Title:  Vice President

                                       6
<PAGE>   7

AGREED:

NITEXIS BANQUE BFCE

By      /s/ Evan S. Kraus
   ---------------------------------
Title:  Assistant Vice President

By      /s/  Cynthia E. Sachs
   ---------------------------------
Title:  Vice President Group Manager

                                       7
<PAGE>   8

AGREED:

SUNTRUST BANK, CENTRAL FLORIDA, N.A.

By      [/s/ An authorized signatory of Suntrust Bank, Central Florida, N.A.]
  ---------------------------------------------------------------------------
Title:  Vice President

                                       8
<PAGE>   9

AGREED:

PNC BANK, NATIONAL ASSOCIATION

By       /s/  Jeffrey E. Hauser
   -----------------------------------
Title:  Vice President

                                       9
<PAGE>   10

AGREED:

MERCANTILE BANK NATIONAL ASSOCIATION

By        /s/  Teresa A. Lekich
   ------------------------------------
Title:  Vice President

                                       10
<PAGE>   11

AGREED:

THE CIT GROUP/EQUIPMENT FINANCING, INC.

By         /s/  Daniel E. A. Nichols
  ----------------------------------------
Title:   Assistant Vice President

                                       11
<PAGE>   12

AGREED:

U.S. BANK NATIONAL ASSOCIATION

By       [/s/ An authorized signatory of U.S. Bank National Association]
  ----------------------------------------------------------------------
Title:  Senior Vice President

                                       12
<PAGE>   13

AGREED:

HELLER FINANCIAL, INC.

By     /s/  Linda W. Wolf
   ----------------------------
Title:  Senior Vice President

                                       13
<PAGE>   14

AGREED:

MORGAN STANLEY/DEAN WITTER PRIME INCOME TRUST

By       /s/  Sheila A. Finnerty
   -----------------------------------
Title:  Vice President

                                       14
<PAGE>   15

AGREED:

FIRST UNION NATIONAL BANK

By       [/s/ An authorized signatory of First Union National Bank]
  -----------------------------------------------------------------
Title:  Vice President

                                       15
<PAGE>   16

AGREED:

HIGHLAND LEGACY LTD.
By HIGHLAND CAPITAL MANAGEMENT, L.P.,
as Collateral Manager

By       /s/  Mark K. Okada
   ----------------------------
Title:  Executive Vice President

                                       16
<PAGE>   17

AGREED:

SEQUILS - ING (HBDGM), LTD.

By:      ING Capital Advisors LLC,
         Collateral Manager and
           Authorized Signatory

By        /s/  Michael J. Campbell
  --------------------------------
Title:  Senior Vice President &
         Portfolio Manager

                                       17
<PAGE>   18

AGREED:

KZH III LLC

By       /s/  Peter Chin
   ----------------------------
Title:  Authorized Agent

                                       18
<PAGE>   19

AGREED:

KZH ING - 1 LLC

By      /s/  Peter Chin
   ----------------------------
Title:  Authorized Agent

                                       19
<PAGE>   20

AGREED:

KZH INC-3 LLC

By      /s/  Peter Chin
   ----------------------------
Title:  Authorized Agent

                                       20
<PAGE>   21

AGREED:

DEBT STRATEGIES FUND, INC.               SENIOR HIGH INCOME PORTFOLIO, INC.

By        /s/  Joseph P. Matteo          By   /s/  Joseph P. Matteo
  --------------------------------         -------------------------------------
Title:  Authorized Signatory             Title:  Authorized Signatory

DEBT STRATEGIES FUND II, INC.            MERRILL LYNCH SENIOR FLOATING
                                         RATE FUND II, INC.

By     /s/  Joseph P. Matteo             By       /s/  Joseph P. Matteo
  --------------------------------          ------------------------------------
Title:   Authorized Signatory            Title:  Authorized Signatory

                                       21
<PAGE>   22

AGREED:

ELC (Cayman) Ltd. 1999-II

By        /s/ Arlene D. Nix
   ----------------------------
Title:  Assistant Vice President

                                       22
<PAGE>   23

AGREED:

STANFIELD CLO LTD.

By:      Stanfield Capital Partners LLC,
         as its Collateral Agent

By       /s/ Gregory L. Smith
   ----------------------------
Title:  Partner

                                       23
<PAGE>   24

                                     CONSENT

                                                   Dated as of November 15, 1999

     The undersigned, each a Guarantor under the Amended and Restated Guarantee
dated as of July 29, 1999 (the "Guarantee") in favor of the Agent, for its
benefit and the benefit of the Lenders parties to the Credit Agreement referred
to in the foregoing Amendment and the Hedge Banks (as defined in the Guarantee),
hereby consent to such Amendment and hereby confirm and agree that (a)
notwithstanding the effectiveness of such Amendment, the Guarantee is, and shall
continue to be, in full force and effect and is hereby ratified and confirmed in
all respects, except that, on and after the effectiveness of such Amendment,
each reference in the Guarantee to the "Credit Agreement", the "Security
Agreement", "thereunder", "thereof" or words of like import shall mean and be a
reference to the Credit Agreement and the Security Agreement, each as modified
by such Amendment, and (b) the Collateral Documents to which each such Guarantor
is a party and all of the Collateral described therein do, and shall continue
to, secure the payment of all of the Secured Obligations (in each case, as
defined therein).

                             CLASSIC CABLE HOLDING, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             PONCA HOLDINGS, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             CLASSIC TELEPHONE, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

<PAGE>   25

                             UNIVERSAL CABLE HOLDINGS, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             UNIVERSAL CABLE COMMUNICATIONS INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             UNIVERSAL CABLE OF BEAVER, OKLAHOMA, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             UNIVERSAL CABLE MIDWEST, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             WT ACQUISITION CORPORATION

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                                       2
<PAGE>   26

                             W.K. COMMUNICATIONS, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             TELEVISION ENTERPRISES, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             BLACK CREEK MANAGEMENT, L.L.C.

                             By: Classic Cable, Inc.,
                                 its sole member

                                 By         /s/  Steven E. Seach
                                    --------------------------------------------
                                 Title: President and Chief Financial Officer

                             BLACK CREEK COMMUNICATIONS, L.P.

                             By: Black Creek Management, L.L.C.,
                                 its General Partner

                             By: Classic Cable, Inc.,
                                 its sole member

                                 By         /s/  Steven E. Seach
                                    --------------------------------------------
                                 Title: President and Chief Financial Officer

                                       3
<PAGE>   27

                             CLASSIC NETWORK TRANSMISSION, L.L.C.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: Manager

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: Manager

                             FRIENDSHIP CABLE OF ARKANSAS, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             FRIENDSHIP CABLE OF TEXAS, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                            Title: President and Chief Financial Officer

                             CORRECTIONAL CABLE TV, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             BUFORD TELEVISION INC. OF FORT SMITH

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                                       4
<PAGE>   28

                             BUFORD GROUP, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             BUFORD TELEVISION, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                             CALLCOM 24, INC.

                             By /s/ Steven E. Seach
                                ------------------------------------------------
                             Title: President and Chief Financial Officer

                                       5<PAGE>   1

                                                                   EXHIBIT 10.15

                                                                  EXECUTION COPY

================================================================================
                                  $349,500,000

                              AMENDED AND RESTATED
                                CREDIT AGREEMENT

                                      among

                               CLASSIC CABLE, INC.
                                   as Borrower

                           THE LENDERS PARTIES HERETO,

                       GOLDMAN SACHS CREDIT PARTNERS L.P.
                     as Lead Arranger and Syndication Agent

                                       and

                            THE CHASE MANHATTAN BANK
                             as Documentation Agent

                                       and

                         UNION BANK OF CALIFORNIA, N.A.
                             as Administrative Agent

                          Dated as of January 31, 2000

================================================================================

<PAGE>   2

                      AMENDED AND RESTATED CREDIT AGREEMENT

                                          Dated as of January 31, 2000

         AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment") among Classic
Cable, Inc., a Delaware corporation (the "Borrower"), the banks, financial
institutions and other institutional lenders parties to the Existing Credit
Agreement referred to below (collectively, the "Lenders") and Union Bank of
California, N.A., as agent (the "Agent") for the Lenders.

         PRELIMINARY STATEMENTS:

         (1) The Borrower, the Lenders, the Agent, Goldman Sachs Credit Partners
L.P., as Lead Arranger and Syndication Agent, and The Chase Manhattan Bank, as
Documentation Agent, have entered into an Amended and Restated Credit Agreement
dated as of July 28, 1999, as amended by Amendment and Waiver No. 1 dated as of
November 15, 1999 (as so amended, the "Existing Credit Agreement"). Capitalized
terms not otherwise defined in this Amendment have the same meanings as
specified in the Existing Credit Agreement.

         (2) The Borrower has proposed to issue a new series of senior
subordinated notes on substantially the same terms as the New Subordinated Notes
and has requested that the Majority Lenders agree to amend the Existing Credit
Agreement to permit such issuance.

         (3) The Borrower has further requested that the Term A Lenders agree to
amend the Term A Facility so as to permit the Borrower, if and to the extent
that the Borrower in its sole discretion elects to prepay all of the Term A
Loans, to reborrow such amounts during a period not to exceed one calendar year
from the effective date of this Amendment.

         (4) The Borrower has further requested that Majority Lenders agree to
amend certain of the financial covenants, waive Section 6.8 of the Existing
Credit Agreement to permit the Borrower to prepay the 9 7/8% Subordinated Notes
and to further amend the Credit Agreement and the Security Agreement as
hereinafter set forth.

         (5) The Majority Lenders, and to the extent so indicated on the
signature pages hereof, the Term A Lenders, are, on the terms and conditions
stated below, willing to grant the requests of the Borrower and to amend the
Loan Documents as hereinafter set forth.

         (6) The parties to this Amendment desire to amend the Existing Credit
Agreement as set forth herein and to restate the Existing Credit Agreement in
its entirety to read as set forth in the Existing Credit Agreement with the
following amendments.

         NOW, THEREFORE, the parties hereto hereby agree that the Existing
Credit Agreement shall be amended and restated in its entirety to read as set
forth in the Existing Credit Agreement with the following amendments, and agree
as follows:

<PAGE>   3

         SECTION 1. Phase I Amendments to the Existing Credit Agreement.
Effective as of the date hereof and subject to the satisfaction of the
conditions precedent set forth in Section 5(b), the Majority Lenders hereby
agree to amend the Existing Credit Agreement as follows:

     (a) Section 1.1 is amended by adding the following defined terms in the
appropriate alphabetical order:

         "Subordinated Notes (2000)": up to $225,000,000 Classic Cable, Inc.
     Senior Subordinated Notes due 2010 to be issued pursuant to an indenture
     substantially similar to the New Subordinated Indenture, as such notes may
     be issued on or prior to March 31, 2000 and may be refinanced in accordance
     with Section 6.2(h).

     (b) The definition of "Subordinated Indebtedness" in Section 1.1 is amended
in full to read as follows:

         "Subordinated Indebtedness": the 9 7/8% Subordinated Notes, the New
     Subordinated Notes and the Subordinated Notes (2000).

     (c) The definition of "Subordinated Indentures" in Section 1.1 is amended
by adding to the end thereof the following phrase:

     and (c) that certain indenture entered into between the Borrower and the
     indenture trustee named therein, with substantially the same terms as the
     New Subordinated Indenture, related to the issuance of the Subordinated
     Notes (2000), as it may be amended or otherwise modified, or replaced
     pursuant to a refinancing of the Subordinated Notes (2000) permitted under
     Section 6.2(h), from time to time in accordance with the terms hereof.

     (d) Section 2.7(a) is amended (i) by deleting the date "December 31, 2001"
and substituting therefor the date "December 31, 2002", (ii) by deleting the
figure "75%" and substituting therefor the figure "50%" and (iii) by adding to
the end thereof the following proviso:

     provided that such prepayments described in this clause (ii) shall not
     include any such prepayments made with the proceeds of Subordinated
     Indebtedness.

     (e) Section 2.7(b)(i) is amended by deleting from the first sentence
thereof the figure "$2,000,000" and substituting therefor the phrase "$5,000,000
in any twelve month period".

     (f) The last paragraph of Section 2.7(b)(i) is amended in full to read as
follows:

         During any period in which the Borrower and its Subsidiaries have cash
     on hand in excess of $3,000,000 including amounts on deposit in the Cash
     Collateral Account pursuant to Section 2.7(b)(i)(A) or in any other
     Collateral Account in accordance with the Security Agreement, calculations
     of the Maximum Total Debt Ratio and the Maximum Senior Debt Ratio with
     respect to such period shall subtract from Total Debt any such amounts, up
     to a total of $75,000,000, in excess of $3,000,000 that are on deposit in
     any

                                        2

<PAGE>   4

     Collateral Account (it being understood that no such subtraction shall be
     made following any reinvestment thereof as contemplated by Section
     2.7(b)(i)). The Borrower hereby agrees that if amounts on deposit in any
     Collateral Account are used in the determination of compliance with the
     Maximum Total Debt Ratio or the Maximum Senior Debt Ratio, the Borrower
     will request that a daily collection report be delivered to the Agent, and
     amounts on deposit in any Collateral Account will be used in such
     determination of compliance only to the extent reported in such daily
     report.

     (g) Section 2.7(c)(i) is amended in full to read as follows:

         (i) Upon any Equity Offering during any period in which the Maximum
     Total Debt Ratio is greater than 5.00:1, the Borrower shall prepay the
     Loans (and such prepayment shall be applied as set forth in Section 2.7(f))
     in an amount equal to 50% of the Net Proceeds of such Equity Offering that
     are not used (A) to repay, prepay or redeem (1) the 9 7/8% Subordinated
     Notes, (2) after the 9 7/8% Subordinated Notes have been paid in full, up
     to 35% in original principal amount of the New Subordinated Notes, and (3)
     after the full permitted amount of New Subordinated Notes have been
     redeemed under clause (2), up to 35% in original principal amount of the
     Subordinated Notes (2000), or (B) to fund Permitted Acquisitions in
     accordance with Section 6.7(h)(i), provided that the amount of such
     prepayment shall be limited to the amount by which, after giving effect to
     such application of Net Proceeds, the pro forma Maximum Debt Ratio is
     5.00:1 or less.

     (h) Section 6.1(a) is amended by deleting the table contained therein and
substituting therefor the following table:

<TABLE>
<CAPTION>
                   Period                              Ratio
--------------------------------------------------     ------
<S>                                                    <C>
Closing Date to and including December 31, 2000        7.00:1
--------------------------------------------------     ------
January 1, 2001 to and including December 31, 2001     6.90:1
--------------------------------------------------     ------
January 1, 2002 to and including December 31, 2002     6.75:1
--------------------------------------------------     ------
January 1, 2003 to and including December 31, 2003     6.50:1
--------------------------------------------------     ------
January 1, 2004 to and including December 31, 2004     6.00:1
--------------------------------------------------     ------
January 1, 2005 and thereafter                         5.50:1
--------------------------------------------------     ------
</TABLE>

     (i) Section 6.1(b) is amended by deleting the table contained therein and
substituting therefor the following table:

<TABLE>
<CAPTION>
                   Period                              Ratio
--------------------------------------------------     ------
<S>                                                    <C>
Closing Date to and including December 31, 2000        4.50:1
--------------------------------------------------     ------
January 1, 2001 to and including December 31, 2001     4.25:1
--------------------------------------------------     ------
January 1, 2002 to and including December 31, 2002     4.00:1
--------------------------------------------------     ------
January 1, 2003 and thereafter                         3.50:1
--------------------------------------------------     ------
</TABLE>

                                        3

<PAGE>   5

     (j) Section 6.1(c) is amended by deleting the table contained therein and
substituting therefor the following table:

<TABLE>
<CAPTION>
                     Period                            Ratio
--------------------------------------------------     ------
<S>                                                    <C>
Closing Date to and including June 30, 2000            1.35:1
--------------------------------------------------     ------
July 1, 2000 to and including December 31, 2000        1.40:1
--------------------------------------------------     ------
January 1, 2001 to and including December 31, 2001     1.45:1
--------------------------------------------------     ------
January 1, 2002 to and including December 31, 2002     1.55:1
--------------------------------------------------     ------
January 1, 2003 and thereafter                         1.65:1
--------------------------------------------------     ------
</TABLE>

     (k) Section 6.1(f) is amended by deleting the figure "$50,000,000" set
opposite the period "Fiscal Year Ending December 31, 2000" and substituting
therefor the figure "$65,000,000".

     (l) Section 6.7(g) is amended by deleting the figure "$5,000,000" and
substituting therefor the figure "10,000,000".

     (m) Section 6.7(h)(i) is amended by adding a new clause (z) immediately
before the first proviso thereof to read "plus (z) up to $150,000,000 payable
solely in common stock of CCI".

     (n) Section 6.13 is amended by deleting from the proviso the figure "75%"
and substituting therefor the figure "66 2/3%".

         SECTION 2. Amendment to the Security Agreement. Effective as of the
date hereof and subject to the satisfaction of the conditions precedent set
forth in Section 5(a), the Majority Lenders hereby agree to amend the second
sentence of Recital E of the Security Agreement by deleting the phrase "with a
bank reasonably acceptable to the Agent in the state of Texas" and substituting
therefor the phrase "with the Agent".

         SECTION 3. Phase II Amendments to the Existing Credit Agreement Related
to the Term A Facility. Effective as of the date hereof and subject to the
satisfaction of the conditions precedent set forth in Section 5(c), and solely
if and to the extent that the Borrower elects in its sole discretion to prepay
in full the Term A Facility, the Term A Lenders so affirming their Term A
Commitments on the signature pages hereof hereby agree to amend the Existing
Credit Agreement as follows:

                                        4

<PAGE>   6

     (a) Section 1.1 is amended to add the following definitions in appropriate
alphabetical order:

         "Amendment No. 2 Effective Date": February 10, 2000.

         "Assuming Term A Lender": as specified in Section 2.22(d).

         "Increasing Term A Lender": as specified in Section 2.22(b).

         "Term A Commitment Date": as specified in Section 2.22(b).

         "Term A Commitment Increase": as specified in Section 2.22(a).

         "Term A Increase Date": as defined in Section 2.22(a).

         "Term A Reset Date": the date, if any, upon which the Borrower elects
     in its sole discretion to prepay in full the Term A Facility, which date,
     if any, shall be notified to the Agent and the Lead Arranger.

     (b) The definition of "Aggregate Term A Commitment" is amended in full to
read as follows:

         "Aggregate Term A Commitment": the sum of the Term A Commitments of the
     Term A Lenders.

     (c) The definition of "Term A Commitment" is amended in full to read as
follows:

         "Term A Commitment": (a) with respect to each Lender having a Term A
     Commitment prior to the Term A Reset Date, the commitment listed as its
     "Term A Commitment" in Schedule 2.1 hereto to make a Term A Loan hereunder
     through its Applicable Lending Office and (b) with respect to each Lender
     that agrees to extend its commitment to make Term A Loans after the Term A
     Reset Date, or each Assuming Term A Lender that participates in any Term A
     Commitment Increase, the commitment of such Lender as determined in
     accordance with Section 2.22 to make Term A Loans hereunder through its
     Applicable Lending Office, in each case as the same may be adjusted
     pursuant to the provisions hereof.

     (d) Section 2.2(a) is amended in full to read as follows:

         (a) Subject to the terms and conditions hereof, each Lender having a
     Term A Commitment severally agrees to make term loans (each, a "Term A
     Loan" and, collectively, the "Term A Loans") to the Borrower on a
     multi-draw basis during the period from the Term A Reset Date to and
     including the first anniversary of the Amendment No. 2 Effective Date in an
     aggregate principal amount equal to the Term A Commitment of such Lender.

                                        5

<PAGE>   7

     (e) Section 2.2(d) is amended in full to read as follows:

         (d) On each Term A Reduction Date, the Borrower shall repay the
     principal of the Term A Notes in an aggregate amount determined by the
     percentage, set forth below opposite such Term A Reduction Date, of the
     aggregate amount of Term A Notes outstanding on December 31, 2001:

<TABLE>
<CAPTION>
Term A Reduction Date           Principal Payment
---------------------           -----------------

<S>                                   <C>
December 31, 2001                     2.500%

March 31, June 30,                    1.875%
September 30 and December
31, 2002

March 31, June 30,                    2.500%
September 30 and December
31, 2003

March 31, June 30, September          3.750%
30 and December 31, 2004

March 31, June 30, September          5.000%
30 and December 31, 2005

March 31, June 30, September          6.250%
30 and December 31, 2006

March 31 and July 31, 2007            10.00%
</TABLE>

; provided that the final installment paid shall be in an amount equal to all
amounts owed by the Borrower on the Term A Notes.

All outstanding Term A Loans shall be due and payable, to the extent not
previously paid in accordance with the terms hereof, on the Term A Maturity
Date. The aggregate amount payable to any Term A Lender on any Term A Reduction
Date shall be determined in accordance with the provisions of Section 2.13.

     (f) Section 2.2 (e) is amended is full to read as follows:

         (e) The Borrower shall give the Agent irrevocable written notice,
     substantially in the form of a Borrowing Notice (which Borrowing Notice
     must be received by the Agent prior to 10:00 A.M., Los Angeles time, one
     Business Day prior to each proposed borrowing date or, if all or any part
     of the Term A Loans are requested to be made as LIBOR Loans, three
     Eurodollar Business Days prior to each proposed borrowing date) requesting
     that the Term A Lenders make the Term A Loans on the proposed borrowing

                                        6

<PAGE>   8

     date and specifying (i) the aggregate amount of Term A Loans requested to
     be made, (ii) whether the Term A Loans are to be LIBOR Loans, Base Rate
     Loans or a combination thereof and (iii) if the Term A Loans are to be
     entirely or partly LIBOR Loans, the respective amounts of each such Type of
     Term A Loan and the respective lengths of the initial Interest Periods
     therefor. Upon receipt of such Borrowing Notice the Agent shall promptly
     notify each Term A Lender thereof not later than 11:00 A.M., Los Angeles
     time, on the date of receipt of such Borrowing Notice. Not later than 10:00
     A.M., Los Angeles time, on the proposed borrowing date each Term A Lender
     shall make available to the Agent at its office specified in Section 9.2
     the amount of such Term A Lender's pro rata share of the aggregate
     borrowing amount (based on the Term A Commitment Percentage of such Term A
     Lender's Term A Commitment) in immediately available funds. The Agent may,
     in the absence of notification from any Term A Lender that such Term A
     Lender has not made its pro rata share available to the Agent, on such
     date, credit the account of the Borrower on the books of such office of the
     Agent with the aggregate Term A Loans.

     (g) Section 2.6 is amended by inserting in the second to last sentence
immediately after the phrase "Amounts prepaid" the phrase "pursuant to this
Section 2.6".

     (h) Section 2.7(f)(iii) is amended by inserting in the first sentence
immediately after the phrase "Each prepayment of the Term A Loans" the phrase
"pursuant to this Section 2.7".

     (i) Section 2.18 is amended in full to read as follows:

         2.18 Unused Commitment Fees. The Borrower agrees to pay to the Agent
     for the account of the Revolving Loan Lenders and the Term A Lenders an
     unused commitment fee to be shared pro rata among the Revolving Loan
     Lenders with respect to the Revolving Loan Commitments and pro rata among
     the Term A Lenders with respect to the Term A Commitments, in each case,
     for the period from and including the Term A Reset Date to but excluding
     the Revolving Loan Commitment Expiration Date, based on the average daily
     aggregate amount of the unused Aggregate Revolving Loan Commitment and
     unused Aggregate Term A Commitment from time to time in effect and computed
     at the rate of (i) during the period from the Term A Reset Date until the
     earlier of (x) the date that the Term A Commitments are fully drawn
     (without giving effect to any subsequent increase of the Term A Commitments
     in accordance with Section 2.22) and (y) the first anniversary of the
     Amendment No. 2 Effective Date, 0.750% per annum and (ii) thereafter, (A)
     during any period in which the Maximum Total Debt Ratio is less than
     5.50:1, 0.375% per annum and (B) at all other times, 0.500% per annum. Such
     fee shall be payable quarterly in arrears on the last day of each March,
     June, September and December and on the Revolving Loan Commitment
     Expiration Date, commencing on the first such date to occur after the Term
     A Reset Date.

     (j) A new Section 2.22 is added to read as follows:

         2.22. Term A Commitments. (a) After the Term A Reset Date, the Borrower
     may, at any time but in any event not more than once in any three month
     period prior to

                                        7

<PAGE>   9

     the first anniversary of the Amendment No. 2 Effective Date, by notice to
     the Lead Arranger, request that the Aggregate Term A Commitment be
     increased by an amount of $10,000,000 or an integral multiple of $5,000,000
     in excess thereof (each a "Term A Commitment Increase") to be effective as
     of a date (the "Term A Increase Date") as specified in the related notice
     to the Lead Arranger; provided, however that (i) in no event shall the
     Aggregate Term A Commitment be more than $100,000,000 and (ii) on the date
     of any request by the Borrower for a Term A Commitment Increase and on the
     related Increase Date, the conditions set forth in Section 4.2 shall be
     satisfied.

         (b) The Lead Arranger shall promptly notify such banks and other
     entities as it shall identify of a request by the Borrower for a Term A
     Commitment Increase, which notice shall include (i) the proposed amount of
     such requested Term A Commitment Increase, (ii) the proposed Increase Date
     and (iii) the date by which such banks or other entities wishing to
     participate in the Term A Commitment Increase must commit to such increase
     in the Term A Commitments (the "Term A Commitment Date"). The requested
     Term A Commitment Increase shall be allocated among the banks and other
     entities willing to participate therein in such amounts as are agreed
     between the Borrower and the Lead Arranger.

         (c) Promptly following each Term A Commitment Date, the Lead Arranger
     shall notify the Borrower and the Agent as to the amount, if any, by which
     the banks and other entities are willing to participate in the requested
     Term A Commitment Increase; provided, however, that the Term A Commitment
     of each such bank or other entity shall be in an amount of $2,000,000 or an
     integral multiple thereof.

         (d) On each Term A Increase Date, each bank or other entity that is not
     prior to such date a Lender hereunder and accepts an offer to participate
     in a requested Term A Commitment Increase in accordance with Section
     2.22(c) (each such bank or other entity, an "Assuming Term A Lender") shall
     become a Lender party to this Agreement as of such Term A Increase Date and
     the Term A Commitment of each bank or other entity that prior to such date
     is a Lender and accepts an offer to participate in such requested
     Commitment Increase (an "Increasing Term A Lender") shall be so increased
     by such amount as of such Term A Increase Date; provided, however, that the
     Agent shall have received on or before such Term A Increase Date the
     following, each dated such date:

             (i) (A) certified copies of resolutions of the Board of Directors
         of the Borrower or the Executive Committee of such Board approving the
         Term A Commitment Increase and the corresponding modifications to this
         Agreement, (B) Term A Notes duly executed by the Borrower payable to
         each Increasing Term A Lender and each Assuming Term A Lender in a
         principal amount equal to such Lender's new or increased Term A
         Commitment, (C) a consent executed by each Guarantor approving the Term
         A Commitment Increase and the corresponding modifications to this
         Agreement and (D) an opinion of counsel for the Borrower (which may be
         in-house counsel), in form and substance satisfactory to the Lead
         Arranger;

                                        8

<PAGE>   10

             (ii) an assumption agreement from each Assuming Term A Lender, in
         form and substance satisfactory to the Borrower and the Agent, duly
         executed by such Assuming Lender, the Agent and the Borrower; and

             (iii) confirmation from each Increasing Term A Lender of the amount
         of its Term A Commitment in a writing satisfactory to the Borrower and
         the Agent.

     On each Term A Increase Date, upon fulfillment of the conditions set forth
     in the immediately preceding sentence of this Section 2.22(d), the Agent
     (x) shall notify the Lenders (including, without limitation, each Assuming
     Term A Lender) and the Borrower, on or before 1:00 P.M., Los Angeles time,
     by telecopier or telex, of the occurrence of the Term A Commitment Increase
     to be effected on such Term A Increase Date, (y) shall record in the
     Register the relevant information with respect to each Increasing Term A
     Lender and each Assuming Term A Lender on such date and (z) shall notify
     each Term A Increasing Lender and each Term A Assuming Lender of the
     amounts, if any, that each such Lender shall be required to fund, and each
     such Lender hereby agrees to so fund such amount for the ratable prepayment
     of Term A Lenders, so as to result in each such Lender's Term A Commitment
     to be utilized ratably based on each such Lender's Term A Commitment
     Percentage.

     (k) Section 5.9 is amended (i) by inserting after the phrase "the Term A
Loans" in clause (i) the phrase "made on the Closing Date", (ii) by adding to
the end of clause (iv) thereof the word "and" and (iii) by inserting immediately
after clause (iv) a new clause (v) to read as follows:

         (v) the Term A Loans made after the Term A Reset Date shall be used (A)
     for capital expenditures, working capital and general corporate purposes
     and (B) to fund Permitted Acquisitions.

     (l) Section 9.6(c) is amended by deleting therefrom the proviso and
substituting therefor the following:

     provided, that (i) any such sale must result in the Purchasing Lender
     having at least $5,000,000 in aggregate amount of obligations related to
     the Revolving Loans under this Agreement, the Notes and the other Loan
     Documents and in the case of an assignment of less than all of a Lender's
     Revolving Loans, the assigning Lender shall retain an aggregate principal
     amount of Revolving Loans of not less than $2,000,000, (ii) any such sale
     must result in the Purchasing Lender having at least $2,000,000 in
     aggregate amount of obligations related to the Term A Loans and in the case
     of an assignment of less than all of a Lender's Term A Loans, the assigning
     Lender shall retain an aggregate principal amount of Term A Loans of not
     less than $2,000,000, (iii) any such sale must result in the Purchasing
     Lender having at least $2,000,000 in aggregate amount of obligations
     related to the Term B Loans and in the case of an assignment of less than
     all of a Lender's Term B Loans, the assigning Lender shall retain an
     aggregate principal amount of Term B Loans of not less than $2,000,000,
     (iv) any such sale must result in the Purchasing Lender having at least
     $2,000,000 in aggregate amount of obligations related to the Term C Loans
     and in

                                        9

<PAGE>   11

     the case of an assignment of less than all of a Lender's Term C Loans, the
     assigning Lender shall retain an aggregate principal amount of Term C Loans
     of not less than $2,000,000 and (v) each such assignment by a Lender of its
     Revolving Loans, Revolving Note, Revolving Commitment or its participation
     in Letters of Credit shall be in such manner so that the same portion of
     its Revolving Loans, Revolving Note, Revolving Commitment and its
     participation in Letters of Credit is assigned to the respective assignee.

         SECTION 4. Waiver of the Credit Agreement. Effective as of the date
hereof and subject to the satisfaction of the conditions precedent set forth in
Section 5(b), the Majority Lenders hereby agree to waive the restrictions of
Section 6.8(b) of the Existing Credit Agreement, as amended and restated hereby,
solely to permit the Borrower to prepay the 9 7/8% Subordinated Notes.

         SECTION 5. Conditions of Effectiveness. (a) Section 2 of this Amendment
shall become effective as of the date first above written when, and only when,
the Agent shall have received counterparts of this Amendment executed by the
Borrower and the Majority Lenders or, as to any of the Lenders, advice
satisfactory to the Agent that such Lender has executed this Amendment and the
consent attached hereto executed by each Guarantor,

         (b) Sections 1 and 4 of this Amendment shall become effective as of the
date first above written, after the satisfaction of the condition set forth in
Section 5(a) above, when and only when (i) the Borrower shall have issued the
Subordinated Notes (2000) and (ii) the Borrower shall have paid (x) all accrued
fees and expenses of the Lead Arranger (including reasonable fees and expenses
of counsel to the Lead Arranger) and (y) an amendment fee equal to 0.125% of the
aggregate Commitments of the Lenders that consent to the effectiveness of this
Amendment.

         (c) Section 3 of this Amendment shall become effective, after the
satisfaction of the conditions set forth the Sections 5(a) and (b) above, on and
as of the date upon which the Borrower, in its sole discretion, shall have
prepaid in full the Term A Loans outstanding on the date of this Amendment and
which the Agent shall have received the following:

         (i) counterparts of this Amendment executed by Term A Lenders
     indicating their consent to renew or extend at least $50,000,000 of the
     Term A Commitments in effect on the date hereof,

         (ii) (A) certified copies of resolutions of the Board of Directors of
     the Borrower or the Executive Committee of such Board approving the Term A
     Facility and the corresponding modifications to this Agreement, (B) Term A
     Notes duly executed by the Borrower payable to each Term A Lender in a
     principal amount equal to such Lender's Term A Commitment and (C) an
     opinion of Winstead Sechrest & Minick P.C., counsel for the Borrower, in
     form and substance satisfactory to the Lead Arranger,

         (iii) written notice from the Borrower of the Term A Reset Date, and

                                       10

<PAGE>   12

         (iv) payment of a commitment fee equal to 0.375% of the aggregate Term
     A Commitments of the Term A Lenders that agree to extend their Term A
     Commitments.

This Amendment is subject to the provisions of Section 9.1 of the Existing
Credit Agreement.

         SECTION 6. Representations and Warranties of the Borrower. The Borrower
represents and warrants as follows:

     6.1 Organization and Good Standing. The Borrower and each Subsidiary (a) is
duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization, (b) has all requisite power and authority
(corporate, partnership, limited liability company and otherwise) to own its
properties and to conduct its business as now conducted and as currently
proposed to be conducted and (c) is duly qualified to conduct business as a
foreign organization and is currently in good standing in each state and
jurisdiction in which it conducts business.

     6.2 Power and Authority. The Borrower and each Subsidiary has all requisite
power and authority under applicable law and under its Organic Documents to (i)
in the case of the Borrower, to issue the Subordinated Notes (2000) in
accordance with the terms of the indenture related thereto and to consummate the
other transactions contemplated hereby and (ii) to execute, deliver and perform
its respective obligations under the Loan Documents to which it is a party. All
actions, waivers and consents (corporate, regulatory and otherwise) necessary or
appropriate for the Borrower and each Subsidiary to execute, deliver and perform
this Amendment, the Consent and the Loan Documents to which it is a party and
for the Borrower to issue the Subordinated Notes (2000) in accordance with the
terms of the indenture related thereto and to consummate the other transactions
contemplated hereby, and have been taken and/or received.

     6.3 Validity and Legal Effect. This Amendment and the Existing Credit
Agreement, as modified hereby, constitutes, and the other Loan Documents, as
amended hereby, to which the Borrower or any Subsidiary is a party constitute
(or will constitute when executed and delivered), the legal, valid and binding
obligations of the Borrower or such Subsidiary, as applicable, enforceable
against it in accordance with the terms thereof, except as such enforceability
may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or
similar laws of general applicability affecting the enforcement of creditors'
rights and (b) the application of general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

     6.4 No Violation of Laws or Agreements. The execution, delivery and
performance of this Amendment and the Loan Documents, the issuance of the
Subordinated Notes (2000) in accordance with the terms of the indenture related
thereto and the consummation of the other transactions contemplated hereby (a)
will not violate or contravene any Requirement of Law, (b) will not result in
any material breach or violation of, or constitute a material default under, any
agreement or instrument by which the Borrower or any Subsidiary, or any of its
property, may be bound, and (c) will not result in or require the creation of
any Lien (other than those permitted by Section 6.3 of the Existing Credit
Agreement) upon or with respect to any property of the Borrower or any
Subsidiary, whether such property is now owned or hereafter acquired.

                                       11

<PAGE>   13

     6.5 Litigation and Legal Proceedings. Except as disclosed on Schedule 3.10
to the Existing Credit Agreement, there is no litigation, claim, investigation,
administrative proceeding, labor controversy or similar action that is pending
or, to the knowledge of the Borrower, threatened (i) with respect to this
Amendment or any Loan Document or the transactions contemplated thereby, (ii)
with respect to the issuance of the Subordinated Notes (2000) or the other
transactions contemplated hereby or (iii) against the Borrower, any Subsidiary
or any Property that (in the case of this clause (iii)), if adversely resolved,
could (either individually or in the aggregate) have a Material Adverse Effect.

         SECTION 7. Reference to and Effect on the Loan Documents. (a) On and
after the effectiveness of this Amendment, each reference in the Existing Credit
Agreement or the Security Agreement to "this Agreement", "hereunder", "hereof"
or words of like import referring to the Existing Credit Agreement or the
Security Agreement, as the case may be, and each reference in the Notes and each
of the other Loan Documents to "the Credit Agreement", the "Security Agreement",
"thereunder", "thereof" or words of like import referring to the Existing Credit
Agreement or the Security Agreement, as the case may be, shall mean and be a
reference to the Existing Credit Agreement or the Security Agreement, as
modified by this Amendment.

         (b) The Existing Credit Agreement, the Security Agreement, the Notes
and each of the other Loan Documents, as specifically amended by this Amendment,
are and shall continue to be in full force and effect and are hereby in all
respects ratified and confirmed. Without limiting the generality of the
foregoing, the Collateral Documents and all of the Collateral described therein
do and shall continue to secure the payment of all Obligations of the Loan
Parties under the Loan Documents, in each case as amended by this Amendment.

         (c) The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.

         SECTION 8. Costs and Expenses. The Borrower agrees to pay on demand all
costs and expenses of the Agent 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 (including,
without limitation, the reasonable fees and expenses of counsel for the Agent)
in accordance with the terms of Section 9.5 of the Existing Credit Agreement.

         SECTION 9. Execution in Counterparts. This Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by
telecopier shall be effective as delivery of a manually executed counterpart of
this Amendment.

                                       12

<PAGE>   14

         SECTION 10. Governing Law. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

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

                                       CLASSIC CABLE, INC.

                                       By /s/ Steven E. Seach
                                          --------------------------------------
                                          Title:

AGREED:

UNION BANK OF CALIFORNIA, N.A.,
as Agent and as Lender

By /s/ Seth Yakatan
   --------------------------------
Title: Assistant Vice President

GOLDMAN SACHS CAPITAL PARTNERS L.P.

By /s/ Elizabeth Fischer
   --------------------------------
Title: Authorized Signatory

THE CHASE MANHATTAN BANK

By /s/ Edmond DeForest
   --------------------------------
Title:  Vice President

                                       13

<PAGE>   15

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Allstate Insurance Company
------------------------------------
(Type or Print Name of Institution)

By /s/ Jerry D. Zinkula
   --------------------------------
By /s/ Charles D. Mires
   --------------------------------
Title: Authorized Signatories

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
  ---------------------------------
Title:

<PAGE>   16

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Allstate Life Insurance Company
-----------------------------------
(Type or Print Name of Institution)

By /s/ Jerry D. Zinkula
   --------------------------------
By /s/ Charles D. Mires
   --------------------------------
Title: Authorized Signatories

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   17

AGREED (AS TO SECTIONS 1 AND 2         ARCHIMEDES FUNDING ILL, LTD.
OF THE FOREGOING AMENDMENT):
                                       By: ING Capital Advisors LLC
                                           as Collateral Manager

                                       By: /s/ Michael D. Hatley
-----------------------------------        --------------------------------
(Type or Print Name of Institution)    Title: Managing Director

By
   --------------------------------
Title:

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   18

AGREED (AS TO SECTIONS 1 AND 2 OF THE FOREGOING AMENDMENT):

AVALON CAPITAL LTD.

By: INVESCO Senior Secured Management,
    Inc., as Portfolio Advisor

    By: /s/ Kathleen A. Lenarcic
        ------------------------------
    Name: Kathleen a. Lenarcic
    Title: Authorized Signatory

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   19

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Black Diamond CLO 1998-1 Ltd.
-----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of Black Diamond CLO 1998-1 Ltd.]
 ----------------------------------------------------------------
Title:

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   20

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Captiva II Finance Ltd.
-----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of Captiva II Finance Ltd.]
   --------------------------------------------------------
Title: Director

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   21

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

The Chase Manhattan Bank
-----------------------------------
(Type or Print Name of Institution)

By /s/ Edmond DeForest
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

The Chase Manhattan Bank               $8,750,000.00
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By /s/ Edmond DeForest
   --------------------------------
Title: Vice President

<PAGE>   22

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

The CIT Group/Equipment Financing
-----------------------------------
(Type or Print Name of Institution)

By /s/ Daniel E. A. Nichols
   --------------------------------
Title: Assistant Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

The CIT Group/Equipment Financing      $5,500,000.00
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By /s/ Daniel E. A. Nichols
   --------------------------------
Title: Assistant Vice President

<PAGE>   23

                         CypressTree Investment Management Company, Inc.
                         As: Attorney-in-Fact and on Behalf of First
                         Allmerica Financial Life Insurance Company as Portfolio
                         Manager

                         By: /s/ Catherine C. McDermott
                             ---------------------------------------------------
                             Name: Catherine C. McDermott
                             Title: Principal

<PAGE>   24

                            CypressTree Senior Floating Rate Fund
                            By: CypressTree Investment Management Company, Inc.
                            as Portfolio Manager

                            By: /s/ Catherine C. McDermott
                                -------------------------------------
                                Name: Catherine C. McDermott
                                Title: Principal

<PAGE>   25

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Eaton Vance Institutional Senior Loan Fund
By: Eaton Vance Management
    As Investment Advisor
-------------------------------------------
(Type or Print Name of Institution)

By /s/ Payson F. Swaffield
   ----------------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   26

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Eaton Vance Senior Income Trust
By: Eaton Vance Management
    As Investment Advisor
-------------------------------------------
(Type or Print Name of Institution)

By /s/ Payson F. Swaffield
   ----------------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   27

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

ELC (Cayman) Ltd. 1999-II
-----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of ELC (Cayman) Ltd. 1999-II]
   ----------------------------------------------------------
Title: Managing Director

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   28

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

First Dominion Capital
-----------------------------------
(Type or Print Name of Institution)

By /s/ Andrew H. Marshak
   --------------------------------
Title: Managing Director

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   29

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

First Union National Bank
-----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of First Union National Bank]
   ----------------------------------------------------------
Title: Senior Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

First Union National Bank              $2,500,000
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of First Union National Bank]
   ----------------------------------------------------------
Title:   Senior Vice President

By
  ---------------------------------
Title:

<PAGE>   30

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Franklin Floating Rate Trust
-----------------------------------
(Type or Print Name of Institution)

By /s/ Chauncey Lufkin
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   31

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Maria Chachere
-----------------------------------
Fremont Investment & Loan

By /s/ Maria Chachere
   --------------------------------
Title: Vice President

<PAGE>   32

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Heller Financial, Inc.
-----------------------------------
(Type or Print Name of Institution)

By /s/ Sheila C. Weimer
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

Heller Financial, Inc.                 $4,500,000
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By /s/ Sheila C. Weimer
   --------------------------------
Title: Vice President

<PAGE>   33

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    Highland Legacy Limited
By: Highland Capital Management, L.P.
    as Collateral Manager
-----------------------------------
(Type or Print Name of Institution)

By /s/ Mark K. Okada CFA
  ---------------------------------
Title: Executive Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   34

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

KZH ING-1 LLC
-----------------------------------
(Type or Print Name of Institution)

By /s/ Peter Chin
   --------------------------------
Title: Authorized Agent

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   35

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

KZH ING-3 LLC
-----------------------------------
(Type or Print Name of Institution)

By /s/ Peter Chin
   --------------------------------
Title: Authorized Agent

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   36

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

KZH III LLC
-----------------------------------
(Type or Print Name of Institution)

By /s/ Peter Chin
   --------------------------------
Title: Authorized Agent

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   37

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Mercantile Bank National Association
------------------------------------
(Type or Print Name of Institution)

By /s/ Teresa A. Lekich
   ---------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

Mercantile Bank National Association   $7,500,000
------------------------------------    -----------------------------------
(Type or Print Name of Institution)

By /s/ Teresa A. Lekich
   ---------------------------------
Title: Vice President

<PAGE>   38

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

MERRILL LYNCH SENIOR FLOATING RATE FUND II, INC.

By: /s/ Joseph Matteo
    -------------------------------
    Authorized Signatory

DEBT STRATEGIES FUND, INC.

By: /s/ Joseph Matteo
    -------------------------------
    Authorized Signatory

DEBT STRATEGIES FUND II, INC.

By: /s/ Joseph Matteo
    -------------------------------
    Authorized Signatory

SENIOR HIGH INCOME PORTFOLIO, INC.

By: /s/ Joseph Matteo
    -------------------------------
    Authorized Signatory

<PAGE>   39

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

ML CLO XX PILGRIM AMERICA
(CAYMAN), LTD.
-----------------------------------
(Type or Print Name of Institution)

By: Pilgrim Investments, Inc.
as its investment manager

By: /s/ Elizabeth O. MacLean
    -------------------------------
    Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   40

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

MORGAN STANLEY DEAN WITTER PRIME INCOME TRUST
(Type or Print Name of Institution)

By /s/ Sheila A. Finnerty
   --------------------------------
Title:   Senior Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   41

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Natexis Banque Popularies
-----------------------------------
(Type or Print Name of Institution)
(formerly known as Natexis Banque)

By /s/ Evan S. Kraus                   /s/ William C. Maier
   --------------------------------    ------------------------------------
Title: Assistant Vice President        Senior Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

Natexis Banque Popularies              $5,500,000
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)
(formerly known as Natexis Banque)

By /s/ Evan S. Kraus                   /s/ William C. Maier
   --------------------------------    ------------------------------------
Title: Assistant Vice President        Senior Vice President

<PAGE>   42

                                        North American Senior Floating Rate Fund
                                        By: CypressTree Investment Management
                                        Company, Inc. as Portfolio Manager

                                        By: /s/ Catherine C. McDermott
                                            ------------------------------------
                                            Name: Catherine C. McDermott
                                            Title: Principal

<PAGE>   43

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    OCTAGON INVESTMENT PARTNERS II, LLC
By: Octagon Credit Investors, LLC
    as sub-investment manager
-----------------------------------
(Type or Print Name of Institution)

By /s/ Andrew D. Gordon
   --------------------------------
Title: Portfolio Manager

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   44

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    OCTAGON INVESTMENT PARTNERS III, LTD.
By: Octagon Credit Investors, LLC
    as sub-investment manager
-----------------------------------
(Type or Print Name of Institution)

By /s/ Andrew D. Gordon
   --------------------------------
Title: Portfolio Manager

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   45

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    Oxford Strategic Income Fund
By: Eaton Vance Management
    as Investment Advisor
-----------------------------------
(Type or Print Name of Institution)

By /s/ Payson F. Swaffield
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   46

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Paribas
-----------------------------------
(Type or Print Name of Institution)

By /s/ Lynne S. Randall                By: /s/ Sean Faherty
   --------------------------------        --------------------------------
Title: Managing Director               Title: Vice President
                                              -----------------------------

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

Paribas                                $7,500,000.00
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By /s/ Lynne S. Randall                By: /s/ Sean Faherty
   --------------------------------        --------------------------------
Title: Managing Director               Title: Vice President
                                              -----------------------------

<PAGE>   47

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

PILGRIM AMERICA HIGH INCOME INVESTMENTS, LTD.
(Type or Print Name of Institution)

By /s/ Elizabeth O. MacLean
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   48

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

PNC BANK, NATIONAL ASSOCIATION
(Type or Print Name of Institution)

By /s/ Karen L. Kooman
   --------------------------------
Title: Assistant Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

PNC Bank, National Association         $8,750,000.00**
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By /s/ Karen L. Kooman
   --------------------------------
Title: Assistant Vice President

**   We are re-affirming our present commitment to the Term Loan A of $6,250,000
     and increasing that commitment by $2,500,00.

<PAGE>   49

                             SANKATY HIGH YIELD PARTNERS II, L.P.

                             By: /s/ Diane J. Exter
                                 -----------------------------------------------

                             Name: Diane J. Exter
                                   ---------------------------------------------

                             Title: Executive Vice President, Portfolio Manager
                                    --------------------------------------------

                             Sankaty Advisors, Inc. as Collateral Manager for
                             GREAT POINT CLO 1999-1 LTD., as Term Lender

                             By: /s/ Diane J. Exter
                                 -----------------------------------------------

                             Name: Diane J. Exter
                                   ---------------------------------------------

                             Title: Executive Vice President, Portfolio Manager
                                    --------------------------------------------

<PAGE>   50

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    Senior Debt Portfolio
By: Boston Management and Research
    as Investment Advisor
-----------------------------------
(Type or Print Name of Institution)

By /s/ Payson F. Swaffield
   --------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   51

                                       SEQUILS-ING I (HBDGM), LTD.

                                       By: TCW Advisors, Inc. as its
                                       Collateral Manager

                                       By: /s/ Mark L. Gold
                                           -------------------------------------
                                           Name: Mark L. Gold
                                           Title: Managing Director

                                       By: /s/ Jonathan R. Insull
                                           -------------------------------------
                                           Name: Jonathan R. Insull
                                           Title: Vice President

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   52

AGREED (AS TO SECTIONS 1 AND 2         SEQUILS-ING I (HBDGM), LTD.
OF THE FOREGOING AMENDMENT):
                                       By: ING Capital Advisors LLC,
                                           A Collateral Manager

                                       By: /s/ Michael D. Hatley
                                           -------------------------------------
-----------------------------------        Name: Michael D. Hatley
(Type or Print Name of Institution)        Title: Managing Director

By
   --------------------------------
Title:

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   53

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

STANFIELD CLO LTD.
(Type or Print Name of Institution)

By /s/ Gregory L. Smith
   --------------------------------
Title: Partner

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   54

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

Summit Bank
-----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of Summit Bank]
   --------------------------------------------
Title: Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

Summit Bank                            $9,500,000.00
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By [/s/ An authorized signatory of Summit Bank]
   --------------------------------------------
Title: Vice President

<PAGE>   55

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

    TRAVELERS CORPORATE LOAN FUND INC.
    Travelers Asset Management
By: International Corporation
-----------------------------------
(Type or Print Name of Institution)

By /s/ Allen R. Cantrell
   --------------------------------
Title: Investment Officer

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   56

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

The Travelers Insurance Company
-----------------------------------
(Type or Print Name of Institution)

By /s/ Allen R. Cantrell
   --------------------------------
Title: Investment Officer

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

                                       $
-----------------------------------     -----------------------------------
(Type or Print Name of Institution)

By
   --------------------------------
Title:

<PAGE>   57

AGREED (AS TO SECTIONS 1 AND 2
OF THE FOREGOING AMENDMENT):

UNION BANK OF CALIFORNIA, N.A.
(Type or Print Name of Institution)

By /s/ Seth Yakatan
   --------------------------------
Title: Assistant Vice President

For Term A Lenders only:

AGREED (AS TO SECTION 3                AMOUNT OF TERM A COMMITMENT
OF THE FOREGOING AMENDMENT):

UNION BANK OF CALIFORNIA, N.A.
$13,750,000.00
-----------------------------------
(Type or Print Name of Institution)

By /s/ Seth Yakatan
   --------------------------------
Title: Assistant Vice President

<PAGE>   58

                                     CONSENT

                                        Dated as of January 31, 2000

         The undersigned, each a Guarantor under the Amended and Restated
Guarantee dated as of July 29, 1999 (the "Guarantee") in favor of the Agent, for
its benefit and the benefit of the Lenders parties to the Credit Agreement
referred to in the foregoing Amendment and the Hedge Banks (as defined in the
Guarantee), hereby consent to such Amendment and hereby confirm and agree that
(a) notwithstanding the effectiveness of such Amendment, the Guarantee is, and
shall continue to be, in full force and effect and is hereby ratified and
confirmed in all respects, except that, on and after the effectiveness of such
Amendment, each reference in the Guarantee to the "Credit Agreement", the
"Security Agreement", "thereunder", "thereof" or words of like import shall mean
and be a reference to the Credit Agreement and the Security Agreement, each as
modified by such Amendment, and (b) the Collateral Documents to which each such
Guarantor is a party and all of the Collateral described therein do, and shall
continue to, secure the payment of all of the Secured Obligations (in each case,
as defined therein).

                                    CLASSIC CABLE HOLDING, INC.

                                    By /s/ Steven E. Seach
                                       -----------------------------------------
                                    Name: Steven E. Seach
                                    Title: President and Chief Financial Officer

                                    CLASSIC TELEPHONE, INC.

                                    By /s/ Steven E. Seach
                                       -----------------------------------------
                                    Name: Steven E. Seach
                                    Title: President and Chief Financial Officer

                                    UNIVERSAL CABLE HOLDINGS, INC.

                                    By /s/ Steven E. Seach
                                       -----------------------------------------
                                    Name: Steven E. Seach
                                    Title: President and Chief Financial Officer

<PAGE>   59

                                   UNIVERSAL CABLE COMMUNICATIONS INC.

                                   By /s/ Steven E. Seach
                                      ------------------------------------------
                                   Name: Steven E. Seach
                                   Title: President and Chief Financial Officer

                                   UNIVERSAL CABLE OF BEAVER, OKLAHOMA, INC.

                                   By /s/ Steven E. Seach
                                      ------------------------------------------
                                   Name: Steven E. Seach
                                   Title: President and Chief Financial Officer

                                   UNIVERSAL CABLE MIDWEST, INC.

                                   By /s/ Steven E. Seach
                                      ------------------------------------------
                                   Name: Steven E. Seach
                                   Title: President and Chief Financial Officer

                                   WT ACQUISITION CORPORATION

                                   By /s/ Steven E. Seach
                                      ------------------------------------------
                                   Name: Steven E. Seach
                                   Title: President and Chief Financial Officer

                                   W.K. COMMUNICATIONS, INC.

                                   By /s/ Steven E. Seach
                                      ------------------------------------------
                                   Name: Steven E. Seach
                                   Title: President and Chief Financial Officer

<PAGE>   60

                              TELEVISION ENTERPRISES, INC.

                              By /s/ Steven E. Seach
                                 ------------------------------------------
                              Name: Steven E. Seach
                              Title: President and Chief Financial Officer

                              BLACK CREEK MANAGEMENT, L.L.C.

                                By: Classic Cable, Inc.,
                                    its sole member

                                    By /s/ Steven E. Seach
                                       ------------------------------------
                                    Name: Steven E. Seach
                                    Title: President and Chief Financial Officer

                                BLACK CREEK COMMUNICATIONS, L.P.

                                By: Black Creek Management, L.L.C.,
                                    its General Partner

                                By: Classic Cable, Inc.,
                                    its sole member

                                    By /s/ Steven E. Seach
                                       ------------------------------------
                                    Name: Steven E. Seach
                                    Title: President and Chief Financial Officer

                                CLASSIC NETWORK TRANSMISSION, L.L.C.

                                By /s/ Steven E. Seach
                                   ----------------------------------------
                                Name: Steven E. Seach
                                Title: Manager

<PAGE>   61

                                By /s/ Steven E. Seach
                                   ---------------------------------------------
                                Name: J. Merritt Belisle
                                Title: Manager

                                FRIENDSHIP CABLE OF ARKANSAS, INC.

                                By /s/ Steven E. Seach
                                   ---------------------------------------------
                                Name: Steven E. Seach
                                Title: President and Chief Financial Officer

                                FRIENDSHIP CABLE OF TEXAS, INC.

                                By /s/ Steven E. Seach
                                   ---------------------------------------------
                                Name: Steven E. Seach
                                Title: President and Chief Financial Officer

                                CORRECTIONAL CABLE TV, INC.

                                By /s/ Steven E. Seach
                                   ---------------------------------------------
                                Name: Steven E. Seach
                                Title: President and Chief Financial Officer

                                CALLCOM 24, INC.

                                By /s/ Steven E. Seach
                                   ---------------------------------------------
                                Name: Steven E. Seach
                                Title: President and Chief Financial Officer

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