Document:

EXHIBIT 10.1
                                                                    ------------

                                 LOAN AGREEMENT

THIS LOAN AGREEMENT (this "AGREEMENT") dated DECEMBER 15, 2004, is made by and
between SIGNATURE EYEWEAR, INC., a California corporation ("BORROWER"), whose
address is 498 N. Oak Street, Inglewood, California 90302, and EAGLE STAR
FINANCE LIMITED ("LENDER"), whose address is P. O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands.

                                    AGREEMENT

        IN CONSIDERATION OF THE MUTUAL COVENANTS AND AGREEMENTS CONTAINED
HEREIN, AND SUBJECT TO THE TERMS OF THIS AGREEMENT AND THE NOTE, Lender and
Borrower hereby agree as follows:

1. Loan. Lender herby agrees to lend to Borrower, and Borrower hereby agrees to
borrow from Lender, the principle amount of THREE HUNDRED AND FIFTY THOUSAND
DOLLARS ($350,000.00) (the "LOAN") on the terms and conditions set forth below.

2. Note. The Loans shall be evidenced by Borrower's execution and delivery to
Lender of a promissory note (such note, as may be amended, renewed or extended
from time to time, with prior written approval of Lender (the "NOTE") in
substantially the form attached hereto as Exhibit A. The Note shall (i) bear
interest at a rate of three percent (3%) net of any tax deduction per annum,
(ii) be due and payable by 5 installments of FIFTY THOUSAND DOLLARS ($50,000.00)
and 1 installment of $100,000 commencing in May, 2005 and ending in November,
2005 and (iii) provide for the payment of all accrued interest on November 27,
2005.

3. Notices. Any notice required to be given to any party pursuant to any
provision of this Agreement shall be in writing and sufficient if delivered
personally or sent by telecopier, and nationally recognized overnight courier
addressed as follows:

                         (a) If to Borrower:
                             Signature Eyewear, Inc.
                             498 N. Oak Street
                             Inglewood, California 90302
                             Attention: Mr. Michael Prince (CEO)
                             Fax Number. : 310-330-2770

                                        1
<PAGE>

                         (b) If to Lender:
                             Eagle Star Finance Limited
                             P.O. Box 957
                             Offshore Incorporations Centre
                             Road Town, Tortola
                             British Virgin Islands

Any party may change its address for the giving of notice hereunder by notice so
given.

4. Governing Law. This Agreement and the Note shall be governed by and construed
in accordance with the laws of the State of California (without regard to
conflicts of law principles) and the laws of the United States applicable to
transactions within such state.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
as the day and year first set forth above.

LENDER:
EAGLE STAR FINANCE LIMITED

_______________________

BORROWER:
SIGNATURE EYEWEAR, INC.

By:
    --------------------------
Name: Michael Prince
Title: Chief Executive Officer

                                        2

<PAGE>

                                 PROMISSORY NOTE
                                 ---------------

US $350,000.00                                                 DECEMBER 15, 2004

FOR VALUE RECEIVED, SIGNATURE EYEWEAR INC., a California corporation, located at
498 N. Oak Street, Inglewood, CA 90302 ("BORROWER") hereby promises to pay to
the order of EAGLE STAR FINANCE LIMITED, a British Virgin Islands corporation
(together with any and all of its successors and assigns and/or any other holder
of this Note, "LENDER"), without offset, in immediately available funds in
lawful money of the United States of America (at P. O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands), the
principal sum of Three Hundred and Fifty Thousand DOLLARS ($350,000.00),
together with interest on the unpaid principal balance of this Note from day to
day outstanding as hereinafter provided.

1.    Definitions. In addition to other terms defined herein, as used herein the
      following terms shall have the meanings indicated, unless the context
      otherwise requires:

       "Indebtedness" means any and all of the indebtedness to Lender evidenced,
      governed or secured by or arising under the Loan Document.

      "Laws" means all constitutions, treaties, statutes, laws, ordinances,
      regulations, rules, orders, writs, injunctions, or decrees of the United
      States of America, any state or commonwealth, any municipality, any
      foreign country, any territory or possession, or any Tribunal.

      "Loan Agreement" means the loan agreement entered into between the
      Borrower and the Lender on December 15, 2004.

      "Loan Document" means the Note and/or the Loan Agreement.

      "Note" means this promissory note.

      "Principal Debt" means the aggregate unpaid principal balance of this Note
      at the time in question.

                                        1
<PAGE>

      "Rights" means rights, remedies, powers and privileges.

      "Taxes" means all taxes, assessments, fees, levies, imposts, duties,
      deductions, withholdings, or other charges of any nature whatsoever from
      time to time or at any time imposed by any Laws or Tribunal.

      "Tax Deduction" means a deduction or withholding for or on account of
      Taxes from a payment under the Loan Document.

      "Tribunal" means any state, commonwealth, federal, foreign, territorial or
      other court or governmental department, commission, board, bureau,
      district, authority, agency, central bank, or instrumentality, or any
      arbitration authority.

2.    Interest Rate.

(a)   The Principal Debt shall bear interest at the rate of three percent (3%)
      per annum.

(b)   Computations and Determinations. All interest shall be computed on the
      basis of a year of 360 days and paid for the actual number of days elapsed
      (including the first day but excluding the last day). The books and
      records of Lender shall be prima facie evidence of all sums owing to
      Lender from time to time under this Note, but the failure to record any
      such information shall not limit or affect the obligations of Borrower
      under the Loan Document.

(c)   Default Rate. Any principal of, and to the extent permitted by allocable
      law, any Interest on this Note, and any other sum payable hereunder, which
      is not paid when due shall bear interest, from the date due and payable
      until paid, payable on demand, at a rate per annum equal to fourteen
      percent (14%).

3.    Payment Schedule. The principal balance of this Note shall be due and
      payable according to the following payment schedule:

            Payment Due Date                                Principal Payment
            ----------------                                -----------------
            May 27, 2005                                      $  50,000.00
            June 27, 2005                                     $  50,000.00
            July 27, 2005                                     $  50,000.00
            August 26, 2005                                   $  50,000.00
            September 27, 2005                                $  50,000.00
            November 29, 2005                                 $ 100,000.00

                                        2
<PAGE>

      The accrued interest owing on this Note shall be due and fully payable on
      November 29, 2005.

      Payment of principal balance and interest shall be made by the Borrower to
      the Lender by wire transfer in United States Dollars to the bank account
      designated by the Lender from time to time.

4.    Tax gross-up.

(a)   The Borrower must make all payments to be made by it under the Loan
      Document without any Tax Deduction, unless a Tax Deduction is required by
      law.

(b)   If Borrower is aware that the Borrower it must make a Tax Deduction (or
      that there is a change in the rate or the basis of a Tax Deduction), it
      must notify the Lender promptly.

(c)   If a Tax Deduction is required by law to be made by the Borrower, the
      amount of the interest payment due from the Borrower will be increased to
      an amount which (after making the Tax Deduction) leaves an amount equal to
      the payment which would have been due if no Tax Deduction had been
      required.

(d)   If the Borrower is required to make a Tax Deduction, it must make the
      minimum Tax Deduction allowed by law and must make any payment required in
      connection with that Tax Deduction within the time allowed by law.

(e)   Within 30 days of making either a Tax Deduction or a payment required in
      connection with a Tax Deduction, the Borrower must deliver to the Lender
      evidence satisfactory to the Lender (acting reasonably) that the Tax
      Deduction has been made or (as applicable) the appropriate payment has
      been paid to the relevant taxing authority.

(f)   The Borrower must indemnify the Lender against any loss or liability which
      the Lender (in its absolute discretion) determines will or has been
      suffered (directly or indirectly) by it for or on account of Taxes in
      relation to a payment received or receivable (or any payment deemed to be
      received or receivable) under the Loan Document.

5.    Prepayment. Borrower may prepay the principal balance of this Note, in
      full at any time or in part from time to time, without penalty.

                                        3
<PAGE>

6.    Late Charges. If Borrower shall fail to make any payment under the terms
      of this Note within ten (10) days after the date such payment is due,
      Borrower shall pay to Lender on demand a late charge equal to four percent
      (4%) of such payment. Such ten (10) day period shall not be construed as
      in any way extending the due date of any payment. The "late charge" is not
      be construed as in any way extending the due date of any payment. The
      "late charge" is imposed for the purpose of defraying the expenses of
      Lender incident to handling such delinquent payment. This charge shall be
      in addition to, and not in lieu of, any other remedy Lender may have and
      is in addition to any fees and charges of any agents or attorneys which
      Lender may employ upon the occurrence of a Default (hereinafter defined)
      hereunder, whether authorized herein or by law.

7.    Certain Provisions Regarding Payments. All payments made as scheduled on
      this Note shall be applied, to the extent thereof, to late charges, to
      accrued but unpaid interest, unpaid principal, and any other sums due and
      unpaid to Lender under the Loan Document. All permitted prepayments on
      this Note shall be applied, to the extent thereof, to accrued but unpaid
      interest on the amount prepaid, to the remaining principal installments,
      and any other sums due and unpaid to Lender under the Loan Document.
      Acceptance by the Lender of any payment in an amount less than the amount
      then due on any Indebtedness shall be deemed an acceptance on account
      only, notwithstanding any notation on or accompanying such partial payment
      to the contrary, and shall not in any way excuse the existence of an
      Default.

8.    Defaults

(a)   It shall be a default ("Default") under the Loan Document if (i) any
      principal, interest or other amount of money due under this Note is not
      paid in full when due, in accordance with the terms and conditions of the
      Loan Agreement, regardless of how such amount may have become due; (ii)
      any covenant, agreement, condition, representation or warranty herein is
      not fully and timely performed, observed or kept; or (iii) there shall
      occur any default or event of default under the Loan Document, which is
      not cured pursuant to the terms and provisions therein. Upon the
      occurrence of a Default, Lender shall have any and all rights and remedies
      set forth in the Loan Agreement, including without limitation the right
      (A) to declare in accordance with the Loan Agreement the unpaid principal
      balance and accrued but unpaid interest on this Note, and all other
      amounts due hereunder and under the Loan Document, at once due and payable
      (upon such declaration, the same shall be at once due and payable), (B) to
      foreclose any liens and security interests securing payment thereof and
      (C) to exercise any of its other rights, powers and remedies under the
      Loan Document, or at law or in equity.

                                        4
<PAGE>

(b)   All of Rights of Lender provided for in the Loan Document are cumulative
      of each other and of any and all other Rights at law or in equity. The
      resort to any Right shall not prevent the concurrent or subsequent
      employment of any other appropriate Right. No single or partial exercise
      of any Right shall exhaust it, or preclude any other or further exercise
      thereof, and every Right may be exercised, subject to the terms of the
      Subordination Agreement, at any time and from time to time. No failure by
      Lender to exercise, nor delay in exercising any Right, including but not
      limited to the right to accelerate the maturity of this Note, shall be
      construed as a waiver of any Default or as a waiver of any Right. Without
      limiting the generality of the foregoing provisions, the acceptance by
      Lender from time to time of any payment under this Note which is past due
      or which is less than the payment in full of all amounts due and payable
      at the time of such payment, shall not (i) constitute a waiver of or
      impair or extinguish the right of Lender to accelerate the maturity of
      this Note or, to exercise any other Right at the time or at any subsequent
      time, or nullify any prior exercise of any such Right, or (ii) constitute
      a waiver of the requirement of punctual payment and performance or a
      novation in any respect.

(c)   If any holder of this Note retains an attorney in connection with any
      Default or at maturity of this Note or to collect, enforce or defend the
      Loan Document in any lawsuit or in any probate, reorganization,
      bankruptcy, arbitration or other proceeding, or if Borrower sues any
      holder in connection with the Loan Document and does not prevail, then
      Borrower agrees to pay to each such holder, in addition to principal,
      interest and any other sums owing to Lender hereunder and under the Loan
      Document, all costs and expenses incurred by such holder in trying to
      collect this Note or in any such suit or proceeding, including, without
      limitation, attorneys' fees and expenses, investigation cost and all court
      costs, whether or not suit is filed hereon, whether before or after the
      payment due dates as provided in Section 1, or whether in connection with
      bankruptcy, insolvency or appeal, or whether collection is made against
      Borrower or any guarantor or endorser or any other person primarily or
      secondarily liable hereunder.

9.    Commercial Purpose. Borrower warrants that the Loan is being made solely
      to acquire or carry on a business or commercial enterprise, and/or
      Borrower is a business or commercial organization. Borrower further
      warrants that all of the proceeds of this Note shall be used for
      commercial purposes and stipulates that the Loan shall be construed for
      all purposes as a commercial loan, and is made for other than personal,
      family, household or agricultural purposes.

                                        5
<PAGE>

10.   WAIVER OF JURY TRIAL. BORROWER WAIVES TRIAL BY JURY IN ANY ACTION OR
      PROCEEDING TO WHICH BORROWER AND LENDER MAY BE PARTIES, ARISING OUT OF, IN
      CONNECTION WITH OR IN ANY WAY PERTAINING TO LOAN DOCUMENT. IT IS AGREED
      AND UNDERSTOOD THAT THIS WAIVER CONSTITUTES A WAIVER OF TRIAL BY JURY OF
      ALL CLAIMS AGAINST ALL PARTIES TO SUCH ACTION OR PROCEEDINGS, INCLUDING
      CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS NOTE. THIS WAIVER IS
      KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY BORROWER, AND BORROWER HEREBY
      REPRESENTS THAT NO REPRESENTATIONS OF FACT OR OPINION HAVE BEEN MADE BY
      ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY
      MODIFY OR NULLIFY ITS EFFECT. BORROWER FURTHER REPRESENTS AND WARRANTS
      THAT IT HAS BEEN REPRESENTED IN THE SIGNING OF THIS NOTE AND IN THE MAKING
      OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO
      BE REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL,
      AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

                                        6
<PAGE>

11.   Reservations of Rights. Nothing in this Note shall be deemed to (a) limit
      the applicability of any otherwise applicable statutes of limitation or
      repose and any waivers contained in this Note; or (b) be a waiver by
      Lender of the protection afforded to it by 12 U.S.C. Sec. 91 or any
      substantially equivalent state law; or (c) limit the right of Lender, (i)
      to exercise self help remedies such as (but not limited to) setoff, or
      (ii) to foreclose against any real or personal property collateral, or
      (iii) to obtain from a court provisional or ancillary remedies such as
      (but not limited to) injunctive relief or the appointment of a receiver.
      Neither the exercise of self help remedies nor the institution or
      maintenance of an action for foreclosure or provisional or ancillary
      remedies shall constitute a waiver of the right of any party, including
      the claimant in any such action, to arbitrate the merits of the
      controversy or claim occasioning resort to such remedies.

12.   Heirs, Successors and Assigns. The terms of the Loan Document shall bind
      and inure to the benefit of the heirs, devisees, representatives,
      successors and assigns of the parties. The foregoing sentence shall not be
      construed to permit Borrower to assign the Loan. As further provided in
      the Loan Agreement, Lender may, at any time, sell, transfer, or assign the
      Loan Document, and any or all servicing rights with respect thereto, or
      grant participations therein.

13.   General Provisions. Time is of the essence with respect to Borrower's
      obligations under this Note. If more than one person or entity executes
      this Note as Borrower, all of said parties shall be jointly and severally
      liable for payment of the indebtedness evidenced hereby. Borrower, its
      successors, assigns and any other party now or hereafter liable for the
      payment of this Note in whole or in part, hereby severally (a) waive
      demand, presentment for payment, notice of dishonor and of nonpayment,
      protest, notice of protest, notice of intent to accelerate, notice of
      acceleration and all other notices (except any notices which are
      specifically required by the Loan Document), filling of suit and diligence
      in collecting this Note or enforcing any of the security herefor; (b)
      agree to any substitution, subordination, exchange or release of any such
      security or the release of any party primarily or secondarily liable
      hereon; (c) agree that Lender shall not be required first to institute
      suit or exhaust its remedies hereon against Borrower or others liable or
      to become liable hereon or to perfect or enforce its rights against them
      or any security herefor; (d) consent to any extensions or postponements of
      time of payment of this Note for any period or periods of time and to any
      partial payments, before or after maturity, and to any other indulgences
      with respect hereto, without notice thereof to any of them; and (e) submit
      (and waive all rights to object) to non-exclusive personal jurisdiction of
      any state or federal court sitting in the State of California, and venue
      in the city or county in which

                                        7
<PAGE>

      payment is to be made as specified in Section 1 of this Note, for the
      enforcement of any and all obligations under this Note and the Loan
      Documents; (f) waive the benefit of all homestead and similar exemptions
      as to this Note; (g) agree that their liability under this Note shall not
      be affected or impaired by any determination that any security interest or
      lien taken by Lender to secure this Note is invalid or unperfected; and
      (h) hereby subordinate any and all rights against Borrower and any of the
      security for the payment of this Note, whether by subrogation, agreement
      or otherwise, until this Note is paid in full. A determination that any
      provision of this Note is unenforceable or invalid shall not affect the
      enforceability or validity of any other provision and the determination
      that the application of any provision of this Note to any person or
      circumstance is illegal or unenforceable shall not affect the
      enforceability or validity of such provision as it may apply to other
      persons or circumstances. This Note may not be amended except in a writing
      specifically intended for such purpose and executed by the Lender and, if
      other than Lender, the party against whom enforcement of the amendment is
      sought. The Lender is hereby authorized to disseminate any information it
      now has or hereafter obtains pertaining to the Loan Document, including,
      without limitation, any security for this Note and credit or other
      information on Borrower, any of its principals and any guarantor of this
      Note, to any actual or prospective assignee or participant with respect to
      the Loan. Captions and headings in this Note are for convenience only and
      shall be disregarded in construing it. THIS NOTE, AND ITS VALIDITY,
      ENFORCEMENT AND INTERPRETAION, SHALL BE GOVERNED BY CALIFORNIA LAW
      (WITHOUT REGARD TO ANY CONFLICT OF LAWS PRINCIPLES) AND APPLICABLE UNITED
      STATES FEDERAL LAW.

14.   Notices. Any notice, request, or demand to or upon Borrower or Lender
      shall be deemed to have been properly given or made when delivered in
      accordance with Section 3 of the Loan Agreement.

15.   No Usury. It is expressly stipulated and agreed to be the intent of
      Borrower and Lender at all times to comply with applicable state law or
      applicable United States federal law (to the extent that it permits Lender
      to contract for, charge, take, reserve, or receive a greater amount of
      interest than under state law) and that this Section shall control every
      other covenant and agreement in the Loan Document. If applicable state or
      federal law should at any time be judicially interpreted so as to render
      usurious any amount called for under this Note or under the Loan Document,
      or contracted for, charged, taken, reserved, or received with respect to
      the Loan, or if Lender's exercise of the option to accelerate the payment
      due dates provided in Section 1, or if any prepayment by Borrower results
      in Borrower having paid any interesting in excess of that permitted by
      applicable law, then it

                                        8
<PAGE>

      is Lender's express intent that all excess amounts theretofore collected
      by Lender shall be credited on the principal balance of this Note and all
      other indebtedness and the provisions of the Loan Document shall
      immediately be deemed reformed and the amounts thereafter collectible
      hereunder and thereunder reduced, without the necessity of the execution
      of any new documents, so as to comply with the applicable law, but so as
      to permit the recovery of the fullest amount otherwise called for
      hereunder or thereunder. All sums paid or agreed to be paid to Lender for
      the use, forbearance, or detention of the Loan shall, to the extent
      permitted by applicable law, be amortized, prorated, allocated, and spread
      throughout the full stated term of the Loan until payment in full so that
      the rate or amount of interest on account of the Loan does not exceed the
      maximum lawful rate from time to time in effect and applicable to the Loan
      for so long as the Loan is outstanding.

      IN WITNESS WHEREOF, Borrower has executed this Note or has caused the same
      to be executed by its duly authorized representatives as of the date set
      first forth above.

      BORROWER
      SIGNATURE EYEWEAR, INC.
      a California corporation

      By
         -------------------------
         Name : Michael Prince
         Title : Chief Executive Officer

                                        9WWW.EXFILE.COM, INC. -- 13322 -- DSL.NET, INC. -- EXHIBIT 10.38 TO FORM 10-K

EXHIBIT
10.38

WAIVER
TO THE AGENCY AGREEMENT

Dated as
of October 7, 2004

	
      To:
	
      Deutsche
      Bank Trust Company Americas,

as
Administrative Agent

and

Deutsche
Bank AG London, by DB Advisors, L.L.C., as investment advisor,

VantagePoint
Venture Partners III (Q), L.P.,

VantagePoint
Venture Partners III, L.P.,

VantagePoint
Communications Partners, L.P.,

VantagePoint
Venture Partners 1996, L.P.,

each, as
an Investor under the Agency Agreement referred to below

Ladies
and Gentlemen:

We refer
to (a) the Agency, Guaranty and Security Agreement dated as of July 18, 2003 (as
amended or otherwise modified prior to the date hereof, the “Agency
Agreement”), among
us (the  “Company”),
certain of our subsidiaries party thereto as grantors (the “Grantors”),
Deutsche Bank Trust Company Americas, as Administrative Agent (in such capacity,
the "Agent"), and
each of you, as Investors thereunder, (b) the Subordination Agreement dated the
date hereof, among us, the Agent and Laurus Master Funds Ltd. (“Laurus”)
pursuant to which you have agreed to subordinate your Liens on and security
interest in our accounts receivable and other assets (as more specifically
described therein), including our deposit account with Fleet National Bank,
Account No. 9429398649 (the “Account”), to
those of Laurus, (c) the Deposit Account Control Agreement in respect of the
Account dated August 31, 2004 by and among, Company, Laurus and Fleet National
Bank, (d) the Deposit Account Control Agreement in respect of the Account dated
the date hereof by and among, the Company, the Agent and Fleet National Bank
(the “Control
Agreement”) and
(e) the Security Agreement dated August 30, 2004 between Laurus and the Company
(the “Security
Agreement”).
Capitalized terms not otherwise defined in this Waiver have the same meanings as
specified in the Agency Agreement.

 

 1.  We hereby
request that the Majority Investors waive the requirements of Section 12(d) of
the Agency Agreement (and any Event of Default existing on the date hereof
pursuant to paragraph (d) of the definition of “Event of Default” in the Agency
Agreement caused by the failure to fulfill such requirements) with respect to
the requirement that our Deposit Accounts, specifically the Account, be
maintained only with the Agent or with Pledge Account Banks that have agreed, in
a record authenticated by the Company, the Agent and the Pledge Account Banks,
to comply with instructions originated by the Agent directing disposition of
funds in the Deposit Accounts without the further consent of the Company.

 

 

1

 

2.  Subject
to Sections 3 and 4 hereof, by executing this Waiver, the Majority Investors
hereby agree that the waiver requested in Section 1 hereof is hereby agreed to
on, and subject to, the terms and conditions of this Waiver.

 

3.  In order
to induce the Majority Investors to enter into this Waiver, the Company hereby
agrees to (a) establish a segregated, non-interest bearing trust account with
the Agent titled “DSL.net, Inc. Proceeds Account” (the “Proceeds
Account”) into
which all of the proceeds of any borrowings under the Security Agreement (the
“Proceeds”) shall
be paid, (b) irrevocably instruct Laurus, in writing in a form acceptable to DB
Advisors, L.L.C., as advisor to Deutsche Bank AG London, and the Agent (the
“Instruction”) and
acknowledged by Laurus, to wire all of the Proceeds directly to the Proceeds
Account on the date of each such borrowing in same day funds, and (c) withdraw
funds from the Proceeds Account only with the prior consent of DB Advisors,
L.L.C., as advisor to Deutsche Bank AG London, and the Agent in such amounts and
for such purposes as DB Advisors, L.L.C., as advisor to Deutsche Bank AG London,
and the Agent shall agree. The Company hereby confirms and acknowledges that,
notwithstanding any agreement to the contrary, the Agent shall be under no
obligation to disburse funds from the Proceeds Account to it or any other
Person, except in accordance with the terms hereof. The Agent
shall have no obligation to invest and reinvest any cash held in the Proceeds
Account in the absence of timely and specific written investment direction from
the Company. If the Agent receives no such written direction, the funds in such
Proceeds Account shall be held uninvested. In no event shall the Agent be liable
for the selection of investments or for investment losses incurred thereon. The
Agent shall have no liability in respect of losses incurred as a result of the
liquidation of any investment prior to its stated maturity or the failure of the
Company to provide timely written investment direction. The Agent or its
affiliates are permitted to receive additional compensation that could be deemed
to be in the Agent's economic self-interest for (i) serving as investment
adviser, administrator, shareholder, servicing agent, custodian or sub-custodian
with respect to certain investments, (ii) using affiliates to effect
transactions in certain investments and (iii) effecting transactions in certain
investments. The Agent does not guarantee the performance of any such
investments. The
Company hereby confirms that after giving effect to the waiver contemplated by
Section 1 above, no Event of Default has occurred and is continuing.

 

4.  This
Waiver shall become effective as of the date first above written when, and only
when, on or before October 7, 2004, (a) the Agent shall have received
counterparts of this Waiver executed by the Company, each of the other Grantors
and the Majority Investors or, as to any of such parties, advice satisfactory to
such Agent that such party has executed this Waiver, (b) any and all expenses
for counsel to the Agent since the date of its last invoice shall have been paid
in full, (c) the Subordination Agreement shall be in form and substance
satisfactory to the Majority Investors, (d) the Control Agreement shall be in
form and substance satisfactory to the Majority Investors, (e) the Proceeds
Account shall have been established, and (f) the Agent shall have received a
copy of the Instruction executed by the Company and acknowledged by
Laurus.

 

5.  The
Agency Agreement, except to the extent of the waiver specifically provided
above, is and shall continue to be in full force and effect and is hereby in all
respects ratified and confirmed. The execution, delivery and effectiveness of
this Waiver shall not, except as expressly provided herein, operate as a waiver
of any right, power or remedy of any party under the Agency Agreement, nor
constitute a waiver of any provision of the Agency Agreement.

 

6.  On and
after the effectiveness of this Waiver, each reference in the Agency Agreement
to “this Agreement”, “hereunder”, “hereof” or words of like import referring to
the Agency Agreement, and each reference in the Notes relating to the Agency
Agreement to “the Agency Agreement”, “thereunder”, 

 

 

2

 

“thereof”
or words of like import referring to the Agency Agreement, shall mean and be a
reference to such Agency Agreement, as amended by this Waiver.

 

7.  If you
agree to the terms and provisions of this Waiver, please evidence such agreement
by executing and returning at least two counterparts of this Waiver to Nicole
Jerabek at Shearman & Sterling LLP, 599 Lexington Avenue, New York, NY 10022
(Telecopier: (646) 848-7458; Telephone: (212) 848-7458).

 

8.  This
Waiver 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 one and the
same agreement. Delivery of an executed counterpart of a signature page to this
Waiver by telecopier shall be effective as delivery of a manually executed
counterpart of this Waiver.

 

9.  This
Waiver shall be governed by, and construed in accordance with, the laws of the
State of New York.

 

*********

3

                    

 

                                                                                                        DSL.NET,
INC.

 

      
 By /s/
Robert J. DeSantis

    _____________________________________ 

       
Name:
Robert J. DeSantis

       
Title:
Chief Financial Officer

       
Consented and agreed to:

DSLNET
COMMUNICATIONS PUERTO RICO, INC.

By /s/
Marc R. Esterman

   
_____________________________________       

Name:
Marc R. Esterman

Title:
Vice President

DSLNET
COMMUNICATIONS VA., INC.

By /s/
Marc R. Esterman

   
_____________________________________       

Name:
Marc R. Esterman

Title:
Vice President

TYCO
NETWORKS, INC.

By /s/
Marc R. Esterman

   
_____________________________________       

Name:
Marc R. Esterman

Title:
Vice President

VECTOR
INTERNET SERVICES, INC.

By /s/
Marc R. Esterman

   
_____________________________________       

Name:
Marc R. Esterman

Title:
Vice President

DSLNET
ATLANTIC LLC

By /s/
Marc R. Esterman

   
_____________________________________       

Name:
Marc R. Esterman

Title:
Vice President

Agreed as
of the date first above written

DEUTSCHE
BANK TRUST COMPANY AMERICAS, 

as
Agent

By /s/
Steven T. Hessler

   
_____________________________________       

Name:
Steven T. Hessler

Title:
Vice President

DEUTSCHE
BANK AG LONDON, 

By DB
ADVISORS LLC AS INVESTMENT ADVISOR

By /s/
Jon Hitchon

   
_____________________________________       

Name: Jon
Hitchon

Title:
Chief Operating Officer

By /s/
Pam Kiernan

   
_____________________________________       

Name: Pam
Kiernan

Title:
Managing Director

 

 

VANTAGEPOINT
VENTURE PARTNERS III (Q), L.P.,

    by
VANTAGEPOINT VENTURE ASSOCIATES 

    III, L.L.C.,
its general partner

By /s/
James D. Marver

   
_____________________________________       

Name:
James D. Marver

Managing
Member

VANTAGEPOINT
VENTURE PARTNERS III, L.P., 

    by
VANTAGEPOINT VENTURE ASSOCIATES 

    III, L.L.C.,
its general partner

By /s/
James D. Marver

   
_____________________________________       

Name:
James D. Marver

Managing
Member

VANTAGEPOINT
COMMUNICATIONS PARTNERS, L.P.,

    by
VANTAGEPOINT COMMUNICATIONS ASSOCIATES,

    L.L.C., its
general partner

By /s/
James D. Marver

   
_____________________________________       

Name:
James D. Marver

Managing
Member

 

VANTAGEPOINT
VENTURE PARTNERS 1996, L.P., 

    by
VANTAGEPOINT ASSOCIATES, L.L.C., 

    its general
partner

By 
/s/ James D. Marver

   
_____________________________________       

Name:
James D. Marver

Managing
Member

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