Document:

Registration Rights Agreement

 Exhibit 4.2 
 REGISTRATION RIGHTS AGREEMENT 
 by and among 
 PAETEC Holding Corp. 
 the subsidiaries of PAETEC Holding Corp. parties hereto

 and 
 Merrill Lynch,
Pierce, Fenner & Smith 
 Incorporated 
 Deutsche Bank Securities Inc. 
 Wachovia Capital Markets, LLC 
 Dated as of July 10, 2007 

 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (this “Agreement”) is made and entered into as of July 10, 2007, by and among PAETEC Holding Corp., a
Delaware corporation (the “Company”), the subsidiaries of the Company listed on the signature pages hereto (collectively, the “Note Guarantors”), Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank
Securities Inc., and Wachovia Capital Markets, LLC (collectively, the “Initial Purchasers”), each of whom has agreed to purchase, pursuant to the Purchase Agreement dated June 27, 2007 among the Company, the Note Guarantors and the
Initial Purchasers (the “Purchase Agreement”), $300,000,000 aggregate principal amount of 9.5% Senior Notes due 2015 (the “Initial Notes”) issued by the Company and guaranteed (the “Initial Guarantees”) by the Note
Guarantors. The Initial Notes and the Initial Guarantees are herein collectively referred to as the “Initial Securities.” 
 This
Agreement is made for the benefit of the Initial Purchasers and for the benefit of the holders from time to time of the Initial Securities. In order to induce the Initial Purchasers to purchase the Initial Securities, the Company and the Note
Guarantors have agreed to provide the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the obligations of the Initial Purchasers set forth in Section 5 of the Purchase Agreement.

 The parties hereby agree as follows: 
 SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings: 
 Additional Interest: Any additional interest payable with respect to the Initial Notes due to an interest rate increase pursuant to Section 5 hereof. 
 Blackout Period: As defined in Section 4(a) hereof. 
 Broker-Dealer: Any broker or dealer
registered under the Exchange Act. 
 Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which
banking institutions or trust companies located in New York, New York are authorized or obligated to be closed. 
 Commission: The
U.S. Securities and Exchange Commission. 
 Consummate: A registered Exchange Offer shall be deemed “Consummated” for
purposes of this Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer, (ii) the
maintenance of such Registration Statement continuously effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Company to
the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of Initial Securities that were tendered by Holders thereof pursuant to the Exchange Offer. 

 Effectiveness Target Date: As defined in Section 5 hereof. 
 Exchange Act: The Securities Exchange Act of 1934, as amended. 
 Exchange Offer: The registration by the Company under the Securities Act of the Exchange Securities pursuant to a Registration Statement pursuant to which the Company offers the Holders of all outstanding
Transfer Restricted Securities the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate principal amount equal to the aggregate principal amount of the Transfer
Restricted Securities tendered in such exchange offer by such Holders. 
 Exchange Offer Effectiveness Target Date: As defined in
Section 5 hereof. 
 Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including
the related Prospectus. 
 Exempt Resales: The transactions in which the Initial Purchasers propose to sell the Initial Securities to
certain “qualified institutional buyers,” as such term is defined in Rule 144A under the Securities Act and to certain non-U.S. persons pursuant to Regulation S under the Securities Act. 
 Exchange Securities: The 9.5% Senior Notes due 2015 under the same Indenture as the Initial Notes and the guarantees of such notes, to be issued
to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 
 Free Writing Prospectus: Any free writing
prospectus, as such term is defined in Rule 405 under the Securities Act, relating to any portion of the Initial Securities and the Exchange Securities. 
 Holders: As defined in Section 2(b) hereof. 
 Indemnified Holder: As defined in
Section 8(a) hereof. 
 Indenture: The Indenture dated as of July 10, 2007, by and between the Company, the Note Guarantors
and The Bank of New York as trustee (the “Trustee”), pursuant to which the Initial Notes and the Exchange Securities are to be issued, as such Indenture may be further amended or supplemented from time to time in accordance with the terms
thereof. 
 Initial Guarantees: As defined in the preamble hereto. 
 Initial Notes: As defined in the preamble hereto. 
 Initial Placement: The issuance and sale by the Company of the Initial Securities to the Initial Purchasers pursuant to the Purchase Agreement. 
 Initial Purchasers: As defined in the preamble hereto. 
 Initial Securities: As defined in the preamble hereto. 
  

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 Issue Date: July 10, 2007 
 NASD: NASD Inc. 
 Person: An
individual, partnership, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as amended or supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by
reference into such Prospectus. 
 Registration Default: As defined in Section 5 hereof. 
 Registration Statement: Any registration statement of the Company relating to (a) an offering of Exchange Securities pursuant to an Exchange
Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus included therein, all
amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 
 Securities: As defined in the Indenture. 
 Securities Act: The Securities Act of 1933, as amended. 
 Shelf Filing Deadline: As defined in Section 4(a) hereof. 
 Shelf Registration Effectiveness Date: As defined in Section 5 hereof. 
 Shelf Registration
Statement: As defined in Section 4(a) hereof. 
 Transfer Restricted Securities: Each Initial Security, until the earliest to
occur of (a) the date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security entitled to be resold to the public by the Holder thereof without complying with the prospectus delivery requirements of the
Securities Act, (b) the date on which such Initial Security has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement and (c) the date on which such Initial Security is
distributed to the public pursuant to Rule 144 under the Securities Act or by a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained
therein). 
 Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for reoffering to
the public. 
  

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 SECTION 2. Securities Subject to this Agreement. 
 (a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted Securities. 

(b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted Securities (each, a “Holder”)
whenever such Person owns Transfer Restricted Securities. 
 SECTION 3. Registered Exchange Offer. 
 (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission policy, each of the Company and the Note Guarantors shall
(i) use its commercially reasonable efforts to cause the Exchange Offer Registration Statement to be filed with the Commission, (ii) use its commercially reasonable efforts to cause such Registration Statement to become effective in no
event later than 180 days after the Issue Date (or if such 180th day is not a Business Day, the next succeeding Business Day), (iii) in connection with the foregoing, (A) file all pre-effective amendments to such Registration Statement as
may be necessary in order to cause such Registration Statement to become effective, (B) file, if applicable, a post-effective amendment to such Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all
necessary filings in connection with the registration and qualification of the Exchange Securities to be made under the state securities or blue sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer and
(iv) upon the effectiveness of such Registration Statement, commence the Exchange Offer. The Exchange Offer Registration Statement shall be on the appropriate form permitting registration of the Exchange Securities to be offered in exchange for
the Transfer Restricted Securities and to permit resales of Exchange Securities held by Broker-Dealers as contemplated by Section 3(c) hereof. 
 (b) The Company and the Note Guarantors shall use their commercially reasonable efforts to cause the Exchange Offer Registration Statement to be effective continuously and shall keep the Exchange Offer open for a period of not less than the
minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days after the date notice of the Exchange
Offer is mailed to the Holders. The Company shall cause the Exchange Offer to comply with all applicable federal and state securities laws. The Company shall use its commercially reasonable efforts to cause the Exchange Offer to be Consummated on
the earliest practicable date after the Exchange Offer Registration Statement has become effective, but in no event later than 30 Business Days after the date notice of the Exchange Offer is required to be mailed to the Holders. 
 (c) The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of the Exchange Offer
Registration Statement that any Broker-Dealer who holds Initial Securities that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Company) may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and
must, therefore, deliver a 

  

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prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the
Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain
all other information with respect to such resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the
amount of Initial Securities held by any such Broker-Dealer except to the extent required by the Commission. 
 Each of the Company and the
Note Guarantors shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of Section 6(c) hereof to the extent necessary to
ensure that it is available for resales of Exchange Securities held by Broker-Dealers, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced
from time to time, for a period ending on the earlier of (i) 180 days from the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date on which a Broker-Dealer is no longer required to deliver a
prospectus in connection with market-making or other trading activities. 
 The Company shall provide sufficient copies of the latest version
of such Prospectus to Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales. 
 SECTION 4. Shelf Registration. 
 (a) Shelf Registration. If with respect to the Initial Notes: (i) the Company and the
Note Guarantors are not permitted to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy, (ii) for any reason the Exchange Offer is not Consummated within 30 Business Days after the
date notice of the Exchange Offer is required to be mailed to the Holders, or (iii) with respect to any Holder of Transfer Restricted Securities (A) such Holder is prohibited by applicable law or Commission policy from participating in the
Exchange Offer, or (B) such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the public without delivering a prospectus (other than by reason of such Holder’s status as an affiliate of the Company) and
the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales by such Holder, or (C) such Holder is a Broker-Dealer and holds Initial Securities acquired directly from the Company or one
of its affiliates, then, upon such Holder’s request prior to the 20th day following Consummation of the
Exchange Offer, the Company and the Note Guarantors shall, with respect to the Initial Notes: 
 (x) use their commercially
reasonable efforts to cause to be filed a shelf registration statement pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in either event, the “Shelf Registration
Statement”) on or prior to 90 days after such filing obligation arises (or if such 90th day is not a Business Day, the next succeeding Business Day) (such date being the “Shelf Filing Deadline”), which Shelf Registration Statement
shall provide for resales of all Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 
  

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 (y) use their commercially reasonable efforts to cause such Shelf Registration Statement
to be declared effective by the Commission, and in any event on or before the 180th day after the obligation to file such Shelf Registration Statement arises (or if such 180th day is not a Business Day, the next succeeding Business Day). 

Subject to the next paragraph, each of the Company and the Note Guarantors shall use its commercially reasonable efforts to keep such Shelf
Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities by the Holders of
Transfer Restricted Securities entitled to the benefit of this Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from
time to time, for a period of at least two years following the effective date of such Shelf Registration Statement (or shorter period that will terminate when all the Initial Securities covered by such Shelf Registration Statement have been sold
pursuant to such Shelf Registration Statement). During the period during which the Company is required to maintain an effective Shelf Registration Statement pursuant to this Agreement, the Company will, prior to the expiration of that Shelf
Registration Statement, file, and use its commercially reasonable efforts to cause to be declared effective (unless it becomes effective automatically upon filing) within a period that avoids any interruption in the ability of Holders of Securities
covered by the expiring Shelf Registration Statement to make registered dispositions, a new registration statement relating to the Securities, which shall be deemed the “Shelf Registration Statement” for purposes of this Agreement.

 Notwithstanding anything to the contrary contained in this Agreement, the Company may suspend use of the Prospectus included in any Shelf
Registration Statement in the event that and for a period of time (a “Blackout Period”) not to exceed an aggregate of 90 days in any calendar year if the Company notifies the Holder to suspend use (on one or more occasions) of such
Prospectus because of the occurrence of any material event or development with respect to the Company that, in the reasonable judgment of the Company, would be detrimental to the Company if so disclosed or would otherwise materially adversely affect
a financing, acquisition, disposition, merger or other material transaction; provided, however, that in no event shall the Company be required to disclose the business purpose for such suspension. 
 (b) Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities
may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in writing, within 20 Business Days after receipt of a request therefor, such
information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included therein or amendment or supplement thereto or Free Writing Prospectus. No Holder of
Transfer Restricted Securities shall be entitled to Additional Interest pursuant to this Section 5 unless and until such Holder shall have provided the Company all such reasonably requested information. Each Holder as to which any Shelf
Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading. 
  

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 SECTION 5. Additional Interest. If (i) the Exchange Offer Registration Statement has not been
declared effective by the Commission (or become automatically effective) on or prior to 180 days after the Issue Date (the “Exchange Offer Effectiveness Target Date”), (ii) in the event the Company and the Note Guarantors are required
to file a Shelf Registration Statement pursuant to Section 4(a) hereof, the Shelf Registration Statement has not been declared effective by the Commission (or become automatically effective) on or prior to 180 days after the obligation to file
a Shelf Registration Statement arises (the “Shelf Registration Effectiveness Target Date” and, together with the Exchange Offer Effectiveness Date, the “Effectiveness Target Date”), (iii) the Exchange Offer has not been
Consummated within 30 Business Days after the Exchange Offer Effectiveness Target Date with respect to the Exchange Offer Registration Statement, or (iv) any Registration Statement required by this Agreement is filed and declared effective but
shall thereafter cease to be effective or fail to be usable for its intended purpose without being succeeded immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself immediately declared or
automatically effective (other than during a Blackout Period) (each such event referred to in clauses (i) through (iv), a “Registration Default”), the Company and the Note Guarantors hereby agree that the interest rate borne by the
affected series of Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default and shall increase by 0.25% per annum at the end of each
subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum. Immediately upon the earliest of (y) the cure of all Registration Defaults relating to any particular Transfer Restricted Securities and (z) the
date on which such Transfer Restricted Security ceases to be a Transfer Restricted Security or otherwise becomes freely transferable by Holders other than affiliates of the Company without further registration under the Securities Act, the interest
rate borne by the relevant Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however, that, if after any such reduction in interest rate, a different
Registration Default occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the foregoing provisions. 
 Notwithstanding the foregoing, (i) the amount of Additional Interest payable shall not increase because more than one Registration Default has occurred and is pending, and (ii) Additional Interest shall be
payable for Registration Defaults related to a failure of the Company and the Note Guarantors to obtain a Shelf Registration Statement by the Shelf Registration Statement Effectiveness Target Date only to those Holders who sought to have their notes
registered pursuant to the first paragraph of Section 4(a) hereof. 
 All obligations of the Company and the Note Guarantors set forth
in the first paragraph of this Section 5 that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such obligations with
respect to such security shall have been satisfied in full. 
  

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 SECTION 6. Registration Procedures. 
 (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company and the Note Guarantors shall comply with all of the
provisions of Section 6(c) hereof, shall use their commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution
thereof, and shall comply with all of the following provisions: 
 (i) As a condition to its participation in the Exchange Offer pursuant to
the terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation thereof, a written representation to the Company (which may be contained in the letter of
transmittal contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with
any Person to participate in, a distribution of the Exchange Securities to be issued in the Exchange Offer, (C) it is acquiring the Exchange Securities in its ordinary course of business and (D) it is not prohibited by any law or policy of
the Commission from participating in the Exchange Offer. In addition, all such Holders of Transfer Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer. 
 (b) Shelf Registration Statement. In connection with the Shelf Registration Statement, each of the Company and the Note Guarantors shall comply
with all the provisions of Section 6(c) hereof and shall use its commercially reasonable efforts to effect such registration (unless automatically declared effective) to permit the sale of the Transfer Restricted Securities being sold in
accordance with the intended method or methods of distribution thereof, and pursuant thereto each of the Company and the Note Guarantors will prepare and file with the Commission a Registration Statement relating to the registration on any
appropriate form under the Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the intended method or methods of distribution thereof. 
 (c) General Provisions. In connection with any Registration Statement and any Prospectus required by this Agreement to permit the sale or resale
of Transfer Restricted Securities and any Free Writing Prospectus (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Initial Securities by Broker-Dealers and any Free Writing
Prospectus related thereto), each of the Company and the Note Guarantors shall: 
 (i) use its commercially reasonable efforts to keep such
Registration Statement continuously effective (subject to the second paragraph of Section 4(a)) during the period required by this Agreement and provide all requisite financial statements (including, if required by the Securities Act or any
regulation thereunder, financial statements of the Note Guarantors for the period specified in Section 3 or 4 hereof, as applicable); upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained
therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement, the Company shall file promptly an appropriate
amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either 

  

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clause (A) or (B), use its commercially reasonable efforts to cause such amendment to be declared effective (unless automatically declared effective)
and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 
 (ii) prepare and file with the Commission such amendments and post-effective amendments to the applicable Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in
Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all Transfer Restricted Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus
supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement to the Prospectus; 
 (iii) advise the underwriter(s), if any, and selling Holders named in any Shelf
Registration Statement promptly and, if requested by such Persons, to confirm such advice in writing, (A) when the Prospectus, any Prospectus supplement, any post-effective amendment or any Free Writing Prospectus has been filed, and, with
respect to any Shelf Registration Statement or any post-effective amendment thereto, when the same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the
Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of any stop order suspending the effectiveness of the Shelf Registration Statement under the Securities Act, of the suspension by any state
securities commission of the qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the initiation of any proceeding for any of the preceding purposes, of the issuance by the Commission of a notification of
objection to the use of the form on which the Shelf Registration Statement has been filed, or of the happening of any event that causes the Company to become an “ineligible issuer,” as defined in Commission Rule 405 and (D) of the
existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration Statement, the Prospectus, any amendment or supplement thereto or any document incorporated by reference therein untrue, or that
requires the making of any additions to or changes in the Registration Statement or the Prospectus in order to make the statements therein not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the
Registration Statement or a notification of objection to the use of the form on which the Registration Statement has been filed or if any state securities commission or other regulatory authority shall issue an order suspending the qualification or
exemption from qualification of the Transfer Restricted Securities under state securities or blue sky laws, each of the Company and the Note Guarantors shall use its commercially reasonable efforts to obtain the withdrawal or lifting of such order
at the earliest practicable time; 
 (iv)(A)(1) furnish without charge to each of the Initial Purchasers that has requested such copies, each
selling Holder named in any Shelf Registration Statement that has requested such copies, if any, and each of the underwriter(s), if any, before filing with the 

  

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Commission, copies of any Shelf Registration Statement or any Prospectus included therein or any amendments or supplements to any such Shelf Registration
Statement or Prospectus (including all documents incorporated by reference after the initial filing of such Shelf Registration Statement), which documents will be subject to the review and comment of such requesting Holders and underwriter(s) in
connection with such sale, if any, for a period of at least five Business Days, and (2) not file any such Shelf Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all
such documents incorporated by reference) to which an Initial Purchaser of Transfer Restricted Securities covered by such Shelf Registration Statement or the underwriter(s), if any, shall reasonably object in writing within five Business Days after
the receipt thereof (such objection to be deemed timely made upon confirmation of telecopy transmission within such period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to be reasonable if such Shelf Registration
Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains a material misstatement or omission; 
 (B) (1) furnish without charge to each of the Initial Purchasers before filing with the Commission, a copy of any Free Writing Prospectus, which will be subject to the consent of the Initial Purchasers, and
(2) not file any such Free Writing Prospectus to which the Initial Purchasers of Transfer Restricted Securities covered by such Shelf Registration Statement have not consented (such consent not to be unreasonably withheld, conditioned or
delayed); 
 (v) promptly prior to the filing of any document that is to be incorporated by reference into a Shelf Registration Statement or
Prospectus, provide copies of such document to each of the Initial Purchasers that has requested such documents, each selling Holder named in any Shelf Registration Statement that has requested such documents, if any, and to the underwriter(s), if
any, and make the Company’s representatives available for discussion of such document and other customary due diligence matters, subject to customary confidentiality agreements, and include such information in such document prior to the filing
thereof as such selling Holders or underwriter(s), if any, reasonably may request; 
 (vi) make available, subject to customary
confidentiality agreements, at reasonable times for inspection by the Initial Purchasers, the managing underwriter(s), if any, participating in any disposition pursuant to such Shelf Registration Statement and any attorney or accountant retained by
such Initial Purchasers or any of the underwriter(s), all financial and other records, pertinent corporate documents and properties of each of the Company and the Note Guarantors, and cause the Company’s and the Note Guarantors’ officers,
directors and employees to supply all information, in each case as shall be reasonably necessary to enable any such Holder, underwriter, attorney or accountant to exercise any applicable responsibilities in connection with such Shelf Registration
Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with investors to the extent reasonably requested by the managing underwriter(s), if any; 
 (vii) if requested by any selling Holders named in any Shelf Registration Statement or the underwriter(s), if any, promptly incorporate in any
Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s), if any, may reasonably request to have included 

  

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therein, including, without limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with
respect to the principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and
make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 
 (viii) use commercially reasonable efforts to cause the Transfer Restricted Securities covered by the Shelf Registration Statement to be rated with the
appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the underwriter(s), if any; 
 (ix) upon request, furnish to each Initial Purchaser, each selling Holder and each of the underwriter(s), if any, without charge, at least one copy of the Shelf Registration Statement, as first filed with the
Commission, and of each amendment thereto, excluding documents incorporated by reference therein and all exhibits that are publicly available; 
 (x) deliver to each selling Holder and each of the underwriter(s), if any, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may
request; each of the Company and the Note Guarantors hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the
sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement thereto; 
 (xi) take all such other
commercially reasonable actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Shelf Registration Statement contemplated by this Agreement, all to such extent as may
be reasonably requested by any Holder of Transfer Restricted Securities or underwriter in connection with any sale or resale pursuant to any Shelf Registration Statement contemplated by this Agreement; in the case of an Underwritten Registration,
each of the Company and the Note Guarantors shall: 
 (A) enter into such agreements (including a customary underwriting
agreement), and make such customary representations and warranties as may be reasonably requested by the Holders of the Transfer Restricted Securities; 
 (B) furnish to each Initial Purchaser, each selling Holder and each underwriter, if any, in such substance and scope as they may reasonably request and as are customarily made by issuers to underwriters in primary
underwritten offerings, upon the date of the effectiveness of the Shelf Registration Statement: 
 (1) a certificate, dated
the date of effectiveness of the Shelf Registration Statement, as the case may be, signed by (y) the President or any Vice President and (z) a principal financial or accounting officer of each of the Company and the Note Guarantors,
confirming, as of the date thereof, such customary matters as such parties may reasonably request; 
  

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 (2) if requested by a majority of selling Holders, an opinion, dated the date of
effectiveness of the Shelf Registration Statement, as the case may be, of counsel for the Company and the Note Guarantors, covering such customary matters as such parties may reasonably request, and in any event including a statement to the effect
that such counsel has participated in conferences with officers and other representatives of the Company and the Note Guarantors, representatives of the independent public accountants for the Company and the Note Guarantors, representatives of the
underwriter(s), if any, and counsel to the underwriter(s), if any, in connection with the preparation of such Registration Statement and the related Prospectus and have considered the matters required to be stated therein and the statements
contained therein, although such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that
caused such counsel to believe that the applicable Registration Statement, (A) at the date of the opinion and at the time such Registration Statement or any post-effective amendment thereto became effective and (B) at the applicable time
identified by such Holders or managing underwriters contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, or that the Prospectus
contained in such Registration Statement as of its date contained an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein not misleading. Without limiting the foregoing, such
counsel may state further that such counsel assumes no responsibility for, and has not independently verified, the accuracy, completeness or fairness of the financial statements, notes and schedules and other financial data included in any
Registration Statement contemplated by this Agreement or the related Prospectus; and 
 (3) use commercially reasonable
efforts to obtain a customary comfort letter from the Company’s independent accountants, in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriters in connection with primary
underwritten offerings; 
 (C) set forth in full or incorporate by reference in the underwriting agreement, if any, the
indemnification provisions and procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 
 (D) deliver such other documents and certificates as may be reasonably requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and with any customary conditions contained in the
underwriting agreement or other agreement entered into by the Company or any of the Note Guarantors pursuant to this Section 6(c)(xi), if any; 
  

 12 

 (xii) prior to any public offering of Transfer Restricted Securities, cooperate with the selling Holders,
the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky laws of such jurisdictions as the selling Holders or
underwriter(s), if any, may request and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by the Shelf Registration Statement; provided,
however, that none of the Company or the Note Guarantors shall be required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the service of process in suits or to
taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not then so subject; 
 (xiii) subject to the terms of the Indenture, cooperate with the selling Holders and the underwriter(s), if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold and
not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the underwriter(s), if any, may request at least two Business Days prior to any sale of
Transfer Restricted Securities made by such Holders or underwriter(s); 
 (xiv) use its commercially reasonable efforts to cause the Transfer
Restricted Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate
the disposition of such Transfer Restricted Securities, subject to the proviso contained in Section 6(c)(xii) hereof; 
 (xv) if any
fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or
file any other required document so that, as thereafter delivered to the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements therein not misleading; 
 (xvi) provide a CUSIP number for all Securities not later than the effective date of the
Registration Statement covering such Securities and provide the Trustee under the applicable Indenture with printed certificates for such Securities which are in a form eligible for deposit with the Depository Trust Company and take all other action
necessary to ensure that all such Securities are eligible for deposit with the Depository Trust Company; 
 (xvii) cooperate and assist in
any filings required to be made with the NASD and in the performance of any due diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and
regulations of the NASD; 
 (xviii) otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of
the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earning statement meeting the requirements of Rule 158 (which need not be audited) for the twelve-month period (A) commencing at the
end of 

  

 13 

 
any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm; and commitment or best efforts Underwritten Offering or
(B) if not sold to underwriters in such an offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; 
 (xix) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first Registration Statement required by
this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance with the terms of the Trust
Indenture Act; and to execute, and to use its commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with the Commission to
enable such Indenture to be so qualified in a timely manner. 
 Each Holder agrees by acquisition of a Transfer Restricted Security that,
upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities pursuant to the applicable
Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised in writing (the “Advice”) by the Company that the use of
the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each Holder will deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of such notice. In the event the Company shall give
any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days (a “Delay Period”) during the period from and
including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or amended
Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received the Advice. 
 SECTION 7. Registration Expenses.

 (a) All expenses incident to the Company’s and the Guarantor’s performance of or compliance with this Agreement will be borne by
the Company and the Note Guarantors, jointly and severally, regardless of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by any
Initial Purchaser or Holder with the NASD (and, if applicable, the reasonable fees and expenses of any “qualified independent underwriter,” and one counsel to such person, that may be required by the rules and regulations of the NASD));
(ii) all fees and expenses of compliance with federal securities and state securities or blue sky laws (including the reasonable fees and disbursements of one counsel to the Holder of Transfer Restricted Securities); (iii) all expenses of
printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone; (iv) all reasonable fees and disbursements of counsel for the
Company and the Note Guarantors and, subject to Section 7(b) hereof, one counsel to the Holders of Transfer Restricted Securities; 

  

 14 

 
(v) all application and filing fees in connection with listing the Exchange Securities on a securities exchange or automated quotation system pursuant to the
requirements thereof; and (vi) all fees and disbursements of independent certified public accountants of the Company and the Note Guarantors (including the expenses of any special audit and comfort letters required by or incident to such
performance). 
 Each of the Company and the Note Guarantors will, in any event, bear its internal expenses (including, without limitation,
all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company or the Note Guarantors.

 (b) In connection with a Shelf Registration Statement required by this Agreement, the Company and the Note Guarantors, jointly and
severally, will reimburse Holders of Transfer Restricted Securities being resold pursuant to the “Plan of Distribution” contained in the Shelf Registration Statement for the reasonable fees and disbursements of not more than one counsel as
may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared. 
 SECTION 8. Indemnification. 
 (a) The Company and the Note Guarantors, jointly and severally, agree to
indemnify and hold harmless (i) the Initial Purchasers, (ii) each Holder and (iii) each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder or
Initial Purchaser (any of the Persons referred to in this clause (ii) being hereinafter referred to as a “controlling person”) and (iv) the respective officers, directors, partners, employees, representatives and agents of any
Holder, Initial Purchaser or any controlling person (any Person referred to in clause (i), (ii), (iii) or (iv) may hereinafter be referred to as an “Indemnified Holder”), from and against any and all losses, claims, damages,
liabilities, judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or defending any claim or action, or any
investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any Indemnified Holder), joint or several, directly or indirectly caused by, related to, based upon,
arising out of or in connection with any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus (or any amendment or supplement thereto) or Free Writing Prospectus, in all cases including
any documents incorporated by reference therein, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims,
damages, liabilities or expenses are caused by an untrue statement or omission or alleged untrue statement or omission that is made in reliance upon and in conformity with information relating to any of the Holders furnished in writing to the
Company by any of the Holders expressly for use therein. This indemnity agreement shall be in addition to any liability that the Company or any of the Note Guarantors may otherwise have. 
 In case any action or proceeding (including any governmental or regulatory investigation or proceeding) shall be brought or asserted against any of the
Indemnified Holders with respect 

  

 15 

 
to which indemnity may be sought against the Company or the Note Guarantors, such Indemnified Holder (or the Indemnified Holder controlled by such
controlling person) shall promptly notify the Company and the Note Guarantors in writing; provided, however, that the failure to give such notice shall not relieve any of the Company or the Note Guarantors of its obligations pursuant
to this Agreement. Such Indemnified Holder shall have the right to employ its own counsel in any such action and the fees and expenses of such counsel shall be paid, as incurred, by the Company and the Note Guarantors (regardless of whether it is
ultimately determined that an Indemnified Holder is not entitled to indemnification hereunder). The Company and the Note Guarantors shall not, in connection with any one such action or proceeding or separate but substantially similar or related
actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time
for such Indemnified Holders, which firm shall be designated by the Holders. The Company and the Note Guarantors shall be liable for any settlement of any such action or proceeding effected with the Company’s and the Note Guarantors’ prior
written consent, which consent shall not be withheld unreasonably, and each of the Company and the Note Guarantors agrees to indemnify and hold harmless any Indemnified Holder from and against any loss, claim, damage, liability or expense by reason
of any settlement of any action effected with the written consent of the Company and the Note Guarantors. The Company and the Note Guarantors shall not, without the prior written consent of each Indemnified Holder, settle or compromise or consent to
the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim, litigation or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not any Indemnified Holder is a party
thereto), unless such settlement, compromise, consent or termination includes an unconditional release of each Indemnified Holder from all liability arising out of such action, claim, litigation or proceeding and does not include a statement as to
or an admission of fault, culpability or a failure to act by or on behalf of any Indemnified Holder. 
 (b) Each Holder of Transfer
Restricted Securities agrees, severally and not jointly, to indemnify and hold harmless the Company, the Note Guarantors, the Initial Purchasers and the other Holders of Transfer Restricted Securities and their respective directors, officers of the
Company and the Note Guarantors who sign a Registration Statement, and any Person controlling (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) the Company, any of the Note Guarantors, the Initial
Purchasers or the other Holders of Transferred Restricted Securities and the respective officers, directors, partners, employees, representatives and agents of each such Person, to the same extent as the foregoing indemnity from the Company and the
Note Guarantors to each of the Indemnified Holders, but only with respect to claims and actions based on the statements or omissions, or alleged untrue statements or omissions relating to such Holder furnished in writing by such Holder expressly for
use in any Shelf Registration Statement; provided, however, that no such Holder shall be liable for any claims hereunder in excess of the amount of net proceeds received by such Holder from the sale of Registrable Securities pursuant to any
such Registration Statement. In case any action or proceeding shall be brought against the Company, the Note Guarantors, the Initial Purchasers and the other Holders of Transfer Restricted Securities or their respective directors or officers or any
such controlling person in respect of which indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and duties given the Company 

  

 16 

 
the Note Guarantors, the Initial Purchasers and the other Holders of Transfer Restricted Securities, and the Company, the Note Guarantors, the Initial
Purchasers, the other Holders of Transfer Restricted Securities, their respective directors and officers and such controlling person shall have the rights and duties given to each Holder by the preceding paragraph. 
 (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified party under Section 8(a) or (b) hereof (other
than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to therein, then each applicable indemnifying party, in lieu of indemnifying such indemnified
party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the Company and the Note
Guarantors, on the one hand, and the Holders and the Initial Purchasers, on the other hand, in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant
equitable considerations. The relative fault of the Company and the Note Guarantors, on the one hand, and of the Indemnified Holder on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement
of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or any of the Note Guarantors, on the one hand, or the Indemnified Holders, on the other hand, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The Company, the Note
Guarantors, the Initial Purchasers and each Holder of Transfer Restricted Securities agree that it would not be just and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a
result of the losses, claims, damages, liabilities or expenses referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action or claim. 
 Notwithstanding the provisions of this
Section 8, no Initial Purchaser (or its related Indemnified Holders) shall be required to contribute any amount in excess of the amount by which the total discount received by such Initial Purchaser with respect to the Initial Securities
exceeds the amount of any damages which such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(c) are
several in proportion to the respective principal amount of Initial Securities held by each of the Holders hereunder and not joint. 
  

 17 

 SECTION 9. Participation in Underwritten Registrations. No Holder may participate in any
Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such
arrangements and (b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting arrangements. 
 SECTION 10. Selection of Underwriters. The Holders of Transfer Restricted Securities who hold at least 25% in aggregate principal amount of such
class of Transfer Restricted Securities covered by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering; provided, that each Holder shall pay all underwriting discounts
and commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Transfer Restricted Securities pursuant to the Shelf Registration Statement. In any such Underwritten Offering, the investment banker(s) and
managing underwriter(s) that will administer such offering will be selected by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such
investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the Company. 
 SECTION 11. Miscellaneous.

 (a) Remedies. Each of the Company and the Note Guarantors hereby agrees that monetary damages would not be adequate compensation for
any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 
 (b) No Inconsistent Agreements. Each of the Company and the Note Guarantors will not on or after the date of this Agreement enter into any
agreement with respect to its securities that conflicts with the provisions hereof. 
 (c) Adjustments Affecting the Securities. The
Company will not effect any change, or permit any change to occur, in each case, with respect to the terms of the Securities that would materially and adversely affect the ability of the Holders to Consummate any Exchange Offer. 
 (d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to or
departures from the provisions hereof may not be given unless the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the written consent of Holders of all outstanding Transfer Restricted Securities and
(ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted Securities held by the Company or
their Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to the Exchange Offer and that does not
affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted Securities being
tendered or registered; provided, however, that, with respect to any matter that directly or 

  

 18 

 
indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial Purchaser with respect to
which such amendment, qualification, supplement, waiver, consent or departure is to be effective. 
 (e) Notices. All notices and
other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail (registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the Registrar under the Indenture; and

 (ii) if to the Company or the Note Guarantors: 
 PAETEC Holding Corp. 
 One PAETEC Plaza 
 600 Willowbrook Office Park 
 Fairport, NY 14450 
 Attention: Charles E. Sieving, Esq. 
 With a copy to: 
 Hogan & Hartson LLP 
 8300 Greensboro Drive 
 Suite 1100 
 McLean, VA 22120 
 Telecopier No.: (703) 610-6200 
 Attention: Richard J. Parrino, Esq. 
 All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days
after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at the
address specified in the Indenture. 
 (f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, that this Agreement shall not
inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder. 
 (g) Counterparts. This Agreement may be executed in any number of counterparts and by the 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. 
  

 19 

 (h) Headings. The headings in this Agreement are for convenience of reference only and shall not
limit or otherwise affect the meaning hereof. 
 (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN NEW YORK STATE. 
 (j) Severability. In
the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and
of the remaining provisions contained herein shall not be affected or impaired thereby. 
 (k) Entire Agreement. This Agreement is
intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no
restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company and the Note Guarantors with respect to the Transfer Restricted Securities. This
Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
  

 20 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	 PAETEC HOLDING CORP.

		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	Chairman, President & CEO
	
	GUARANTORS:
	
	US LEC CORP.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	PAETEC CORP.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF NORTH CAROLINA INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF ALABAMA INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF FLORIDA INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer

  

 Registration Rights Agreement 

			
	
	US LEC OF MARYLAND INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF TENNESSEE INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF SOUTH CAROLINA INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	US LEC OF NEW YORK INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	PAETEC ITEL, L.L.C.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	PAETEC INTEGRATED SOLUTIONS GROUP, INC.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer
	
	PAETEC SOFTWARE CORP.
		
	By:	 	/s/    Arunas A. Chesonis
	Name:	 	Arunas A. Chesonis
	Title:	 	President and Chief Executive Officer

  

 Registration Rights Agreement 

			
	 CONFIRMED AND ACCEPTED,
 as of the date first
above written:

	
	MERRILL LYNCH & CO.
	
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	By:	 	 /s/ Mark Bush

		 	 Authorized Signatory

	
	DEUTSCHE BANK SECURITIES INC.
		
	By:	 	 /s/ John Eydenberg

		 	 Authorized Signatory

		
	By:	 	 /s/ Stephen Lapidus

		 	 Authorized Signatory

	
	WACHOVIA CAPITAL MARKETS, LLC
		
	By:	 	 /s/ Howard Feldman

		 	 Authorized Signatory

  

 Registration Rights AgreementFirst Amendment to Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 FIRST AMENDMENT TO CREDIT AGREEMENT (this “First
Amendment”), dated as of June 27, 2007, among PAETEC HOLDING CORP., a Delaware corporation (the “Borrower”), the lenders from time to time party to the Credit Agreement referred to below (the
“Lenders”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent (in such capacity, the “Administrative Agent”). Unless otherwise defined herein, all capitalized terms used herein and not otherwise
defined shall have the respective meanings provided such terms in the Credit Agreement. 
 WITNESSETH: 
 WHEREAS, the Borrower, the Lenders, Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Syndication Agent, CIT Lending Services Corporation,
as Documentation Agent, and the Administrative Agent are parties to a Credit Agreement, dated as of February 28, 2007 (the “Credit Agreement”); and 
 WHEREAS, subject to the terms and conditions of this First Amendment, the parties hereto wish to amend certain provisions of the Credit Agreement as herein provided. 
 NOW, THEREFORE, IT IS AGREED: 
  

	I.	Amendments to Credit Agreement. 

 1.
Section 1.01 of the Credit Agreement is hereby amended by (i) deleting the definitions of “Applicable Margin”, “Borrowing”, “Consolidated Cash Interest Expense”, “Cumulative
Retained Excess Cash Flow Amount”, “Financial Covenants”, “Fixed Charge Coverage Ratio” and “Fixed Charges” appearing in said Section in their entirety and (ii) inserting in the
appropriate alphabetical order the following new definitions: 
 “Additional Replacement Term Loans” shall
have the meaning provided in Section 2.01(f). 
 “Additional Senior Notes” shall mean any Indebtedness
of the Borrower, which may be guaranteed by one or more Subsidiary Guarantors, all of the terms and conditions of which (including, without limitation, with respect to amortization, redemption provisions, maturities, covenants, defaults, remedies
and guaranties, but excluding interest rate) (taken as a whole) and the documentation therefor are substantially equivalent to those in respect of (or not materially more restrictive than) the Senior Notes, as such Indebtedness may be amended,
modified and/or supplemented from time to time in accordance with the terms hereof and thereof; provided, that in any event, unless the Required Lenders 

 
otherwise expressly consent in writing prior to the issuance thereof, (i) no such Indebtedness shall be secured by any asset of the Borrower or any of
its Subsidiaries, (ii) no such Indebtedness shall be guaranteed by any Person other than a Subsidiary Guarantor and (iii) no such Indebtedness shall be subject to any scheduled amortization, mandatory redemption, sinking fund or similar
payment or have a final maturity date, in either case prior to the date occurring six months following the latest Maturity Date. The incurrence of Additional Senior Notes shall be deemed to be a representation and warranty by the Borrower that all
conditions thereto have been satisfied in all material respects and that the incurrence of such Additional Senior Notes is permitted in accordance with the terms of this Agreement, which representation and warranty shall be deemed to be a
representation and warranty for all purposes hereunder, including, without limitation, Sections 8 and 11. 
 “Additional Senior Notes Documents” shall mean, on and after the execution and delivery thereof, each note, instrument, agreement, guaranty and other document relating to each incurrence of Additional Senior Notes, as the
same may be amended, modified and/or supplemented from time to time in accordance with the terms hereof and thereof. 
 “Applicable Margin” shall mean a percentage per annum equal to: (i) in the case of Replacement Term Loans maintained as (A) Base Rate Loans, 1.50%, and (B) Eurodollar Loans, 2.50%; (ii) in the case of
Revolving Loans maintained as (A) Base Rate Loans, initially 1.50% and (B) Eurodollar Loans, initially 2.50%; (iii) in the case of Swingline Loans, initially 1.50%; and (iv) in the case of any Type of Incremental Term Loan of a
given Tranche that is not a Replacement Term Loan, that percentage per annum set forth in, or calculated in accordance with, Section 2.14 and the relevant Incremental Term Loan Commitment Agreement. From and after each day of delivery of any
certificate delivered in accordance with the first sentence of the following paragraph indicating an entitlement to a different margin for any Revolving Loans or Swingline Loans than that described in the immediately preceding sentence (each, a
“Start Date”) to and including the applicable End Date described below, the Applicable Margins for such Tranches of Loans (hereinafter, the “Adjustable Applicable Margins”) shall be those set forth below opposite
the Total Leverage Ratio indicated to have been achieved in any certificate delivered in accordance with the following sentences: 
  

					
	 Total Leverage Ratio
	 	 Revolving Loan
 Eurodollar Margin
	 	 Revolving Loan and
 Swingline Loan
 Base Rate
Margin

	 Equal to or greater than 3.50 to 1.00
	 	2.50%	 	1.50%

  

 -2- 

					
	 Total Leverage Ratio
	 	 Revolving Loan
 Eurodollar Margin
	 	 Revolving Loan and
 Swingline Loan
 Base Rate
Margin

	 Equal to or greater than 3.00 to 1.00 but less than 3.50 to 1.00
	 	2.25%	 	1.25%
			
	 Less than 3.00 to 1.00
	 	2.00%	 	1.00%

 The Total Leverage Ratio used in a determination of Adjustable Applicable Margins
shall be determined based on the delivery of a certificate of the Borrower (each, a “Quarterly Pricing Certificate”) by an Authorized Officer of the Borrower to the Administrative Agent (with a copy to be sent by the Administrative
Agent to each Lender), within 45 days after the last day of any fiscal quarter of the Borrower (or within 90 days after the last day of the fourth fiscal quarter of the Borrower). The Quarterly Pricing Certificate shall set forth the calculation of
the Total Leverage Ratio as at the last day of the Test Period ended immediately prior to the relevant Start Date and the Adjustable Applicable Margins which shall be thereafter applicable (until such Adjustable Applicable Margins are changed or
cease to apply in accordance with the following sentences). The Adjustable Applicable Margins so determined shall apply, except as set forth in the succeeding sentence, from the relevant Start Date to the earlier of (x) the date on which the
next Quarterly Pricing Certificate is delivered to the Administrative Agent or (y) the date which is 45 days (or 90 days in the case of the fourth fiscal quarter of the Borrower) following the last day of the fiscal quarter of the Borrower for
which the Adjustable Applicable Margins were most recently determined pursuant to this definition (such earlier date, the “End Date”), at which time, if no Quarterly Pricing Certificate has been delivered to the Administrative Agent
indicating an entitlement to new Adjustable Applicable Margins (and thus commencing a new Start Date), the Adjustable Applicable Margins shall be those set forth in the first sentence of this definition (such Adjustable Applicable Margins as so
determined, the “Highest Adjustable Applicable Margins”). Notwithstanding anything to the contrary contained above in this definition, the Adjustable Applicable Margins for Revolving Loans and Swingline Loans shall be the Highest
Adjustable Applicable Margins (x) at all times during which a Default or an Event of Default shall occur and be continuing and (y) at all times prior to the date of delivery of the financial statements of the Borrower pursuant to
Section 9.01(a) for the fiscal quarter of the Borrower ending June 30, 2007. 
 “Borrowing” shall
mean the borrowing of one Type of Loan of a single Tranche from all the Lenders having Commitments of the respective Tranche (or from the Swingline Lender in the case of Swingline Loans) on a given date (or resulting from a conversion or conversions
on such date) having in the case of Eurodollar Loans the same Interest Period, 

  

 -3- 

 
provided that (x) Base Rate Loans incurred pursuant to Section 2.10(b) shall be considered part of the related Borrowing of Eurodollar
Loans, (y) any Incremental Term Loans incurred pursuant to Section 2.01(b) that are being added to a then existing Tranche of Term Loans shall be considered part of the related Borrowing of the then outstanding Tranche of Term Loans to
which such Incremental Term Loans are added pursuant to, and in accordance with the requirements of, Section 2.14(c) and (z) the term “Borrowing” shall include the consolidated “borrowing” of Replacement Term
Loans pursuant to the simultaneous conversion of Initial Term Loans by way of the Replacement Term Loan Conversion and the incurrence of Additional Replacement Term Loans on the First Amendment Effective Date on the terms provided in
Section 2.01(f). 
 “Consenting Initial Term Loan Lender” shall mean each Lender with outstanding
Initial Term Loans that has executed and delivered a counterpart of the First Amendment to the Administrative Agent on or prior to 5:00 P.M. (New York time) on the later to occur of June 27, 2007 or the First Amendment Effective Date.

 “Converted Replacement Term Loans” shall have the meaning provided in Section 2.01(f). 
 “Existing Initial Term Loan Borrowing” shall have the meaning provided in Section 2.01(f). 
 “Financial Covenant” shall mean the financial covenant contained in Section 10.08. 
 “First Amendment” shall mean the First Amendment to this Agreement, dated as of June 27, 2007. 
 “First Amendment Effective Date” shall have the meaning provided in the First Amendment. 
 “Headquarters” shall mean (i) the Real Property located in Fairport, New York on which the Borrower’s corporate
headquarters is located as of the First Amendment Effective Date, and (ii) the assets (including equipment, fixtures and other personal property or Real Property) related thereto or located thereon, in each case solely to the extent that such
Real Property and related assets are acquired and owned, or leased, by the Headquarters SPV. 
 “Headquarters
Leases” shall mean (i) the lease from time to time in effect between Headquarters SPV, as lessor, and the Borrower and/or its other Subsidiaries, as lessee(s), with respect to the leasing of space in the Headquarters as the
Borrower’s corporate headquarters, as the same may be amended, modified or replaced from time to time in accordance with the terms hereof and thereof, (ii) the lease or leases from time to time 

  

 -4- 

 
in effect between Headquarters SPV, as lessor, and one or more third parties, as lessee(s), of all or a portion of the portion of the Headquarters not
leased to the Borrower and/or its other Subsidiaries, as the same may be amended, modified or replaced from time to time, and (iii) the sublease or subleases from time to time in effect between Borrower and/or its Subsidiaries, as sublessor(s),
and one or more third parties, as sublessee(s), with respect to a portion of the Headquarters leased to Borrower and/or it Subsidiaries but not occupied by the Borrower and/or it Subsidiaries during the time such sublease or subleases are in effect,
as the same may be amended, modified or replaced from time to time, provided, that, with respect to the lease referred to (i) above, the Headquarters SPV shall be required to enter into a landlord waiver agreement for the benefit of the
Secured Creditors in a form reasonably satisfactory to the Administrative Agent. 
 “Headquarters Non-Recourse
Mortgage Debt” shall mean (i) initially, Indebtedness of the Headquarters SPV the net cash proceeds of which are used by the Headquarters SPV to acquire the Headquarters, and (ii) thereafter, any Indebtedness of the Headquarters
SPV the net cash proceeds of which are used by the Headquarters SPV to refinance in full the Indebtedness incurred under preceding clause (i) or under this clause (ii), in each case under clause (i) and (ii) above, as such
Indebtedness may be amended, modified and/or supplemented from time to time in accordance with the terms hereof and thereof; provided, that in any event, unless the Required Lenders otherwise expressly consent in writing prior to the issuance
thereof, (i) no such Indebtedness shall be secured by any asset of the Borrower or any of its Subsidiaries (other than the Headquarters SPV), (ii) neither the Borrower nor any of its Subsidiaries (other than the Headquarters SPV)
(x) provides credit support of any kind in respect thereof (including any undertaking, agreement or instrument that would constitute Indebtedness) except “carve-outs” guarantees and environmental indemnities in respect of the
Headquarters Non-Recourse Mortgage Debt, in each case on customary and commercially reasonable terms, it being further understood that Headquarters SPV Payment Amounts shall not constitute credit support so long as neither the Borrower nor any of
its Subsidiaries have agreed with (or for the benefit of) the lender or holder of the Headquarters Non-Recourse Mortgage Debt to make such payments except pursuant to the Headquarters Lease, the “carve outs” guarantees or the environmental
indemnities described above, or (y) is directly or indirectly liable thereon as a guarantor or otherwise, (iii) no default in respect of such Indebtedness would permit the holders of any other Indebtedness (other than Indebtedness
represented by the Senior Notes, any Additional Senior Notes, any Permitted Subordinated Debt or the Credit Documents) to declare a default on such Indebtedness or cause the payment thereof to be accelerated or payable prior to is stated maturity,
(iv) such Indebtedness does not cross-default or cross-accelerate to any Indebtedness of the Borrower or any of its other Subsidiaries, (v)

  

 -5- 

 
the express terms of such Indebtedness provide that there is no recourse against the Borrower or any of its other Subsidiaries (other than the Headquarters
SPV) or any of their respective assets and (vi) such Indebtedness is incurred on terms customary for financings of that type and shall not be subject to any scheduled amortization (other than customary amortization of mortgage loans of a
similar nature), mandatory redemption, sinking fund or similar payment or have a final maturity, in either case prior to the date occurring six months following the latest Maturity Date and, in any event, shall not have a Weighted Average Life to
Maturity shorter than the remaining Weighted Average Life to Maturity of the outstanding Tranche of Term Loans with the latest Maturity Date. The incurrence of Headquarters Non-Recourse Mortgage Debt shall be deemed to be a representation and
warranty by the Borrower that all conditions thereto have been satisfied in all material respects and that the incurrence of such Headquarters Non-Recourse Mortgage Debt is permitted in accordance with the terms of this Agreement, which
representation and warranty shall be deemed to be a representation and warranty for all purposes hereunder, including, without limitation, Sections 8 and 11. 
 “Headquarters Non-Recourse Mortgage Debt Documents” shall mean, on and after the execution and delivery thereof, each
note, instrument, agreement, mortgage and other document relating to the incurrence of any Headquarters Non-Recourse Mortgage Debt, as the same may be amended, modified and/or supplemented from time to time in accordance with the terms hereof and
thereof. 
 “Headquarters SPV” shall mean a Wholly-Owned Domestic Subsidiary of the Borrower that will be
formed for the principal purpose of purchasing and owning the Headquarters, incurring any Headquarters Non-Recourse Mortgage Debt and entering into and performing the Headquarters Leases. 
 “Headquarters SPV Payment Amounts” shall mean (i) an initial Investment by the Borrower or any of its Subsidiaries
in the Headquarters SPV not exceeding $10,000,000 made in connection with the acquisition of the Headquarters by the Headquarters SPV, including for funding a down-payment, initial tenant improvements and other initial Capital Expenditures, and
(ii) Investments in the Headquarters SPV required to service the Headquarters Non-Recourse Mortgage Debt (including principal, interest and associated fees and expenses thereunder), to maintain the Headquarters and related real and personal
property and to maintain the legal existence of the Headquarters SPV and to pay corporate overhead and legal, accounting and administrative costs and expenses and taxes (including franchise taxes) of the Headquarters SPV. 
  

 -6- 

 “Market Build-Out” shall mean the market build-out or expansion by the
Borrower or one or more of its Subsidiaries in a market in which neither the Borrower nor any of its Subsidiaries operate on the First Amendment Effective Date. 
 “Non-Consenting Initial Term Loan Lender” shall mean each Initial Term Lender that is not a Consenting Initial Term Loan
Lender. 
 “Replacement Term Loan” shall have the meaning provided in Section 2.01(f). 
 “Replacement Term Loan Commitment” shall mean, for each Lender, the amount set forth opposite such Lender’s name in
Schedule I directly below the column entitled “Replacement Term Loan Commitment,” as the same may be terminated pursuant to Section 4.03 or 11. 
 “Replacement Term Loan Conversion” shall have the meaning provided in Section 2.01(f). 
 “Replacement Term Loan Maturity Date” shall mean February 28, 2013. 
 “Replacement Term Note” shall have the meaning provided in Section 2.05(a). 
 “Retained Excess Cash Flow Amount” shall mean, in respect of any fiscal year of the Borrower, an amount equal to the
remainder of (A) 100% of Excess Cash Flow for such fiscal year minus (B) the Applicable Excess Cash Flow Prepayment Percentage of Excess Cash Flow for such fiscal year. 
 “Senior Notes” shall mean up to $300,000,000 in aggregate principal amount of the Borrower’s senior unsecured notes
due 2015 the principal terms and conditions of which are described in the Borrower’s Preliminary Offering Memorandum dated June 18, 2007 that was prepared in connection with the issuance of such notes and which are otherwise reasonably
satisfactory to the Joint Lead Arrangers. 
 “Senior Notes Documents” shall mean, on and after the execution
and delivery thereof, each note, instrument, agreement, guaranty and other document relating to the issuance of the Senior Notes, as in effect on the First Amendment Effective Date and as the same may be amended, modified and/or supplemented from
time to time in accordance with the terms hereof and thereof. 
  

 -7- 

 “Total Replacement Term Loan Commitment” shall mean, at any time, the
sum of the Replacement Term Loan Commitments of each of the Lenders at such time. 
 “Total Secured Leverage
Ratio” shall mean, on any date of determination, the ratio of (x) Consolidated Indebtedness that is secured by a Lien on any asset of the Borrower or any of its Subsidiaries on such date to (y) Consolidated EBITDA for the Test
Period most recently ended on or prior to such date; provided that for purposes of any calculation of the Total Secured Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in
accordance with clause (iii) of the definition of “Pro Forma Basis” contained herein. 
 2. The definition of
“Capitalized Lease Obligations” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the following text at the end of said definition: 
 “; provided, that, any Headquarters Lease between the Headquarters SPV, as lessor, and the Borrower or any Subsidiary
Guarantor, as lessee, shall not be a Capitalized Lease Obligation for the purposes of this Agreement”. 
 3. The definition of
“Change of Control” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the following text at the end of said definition: 
 “, any Senior Notes Document, any Additional Senior Notes Document or any Headquarters Non-Recourse Mortgage Debt”. 
 4. The definition of “Commitment” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the text “a
Replacement Term Loan Commitment,” immediately after the text “Initial Term Loan Commitment,” appearing in said definition. 
 5. The definition of “Consolidated EBITDA” appearing in Section 1.01 of the Credit Agreement is hereby amended by (i) deleting the text “(i)” immediately preceding the text “the amount of all cash
payments or cash charges made (or incurred) by the Borrower or any of its Subsidiaries for such period on account of any non-cash charges added back to Consolidated EBITDA pursuant to preceding sub-clause (A)(iv) in a previous period” appearing
in sub-clause (B) of the first sentence of said definition, (ii) deleting the text “ and (ii) for purposes of calculating the Fixed Charge Coverage Ratio only, the amount of consolidated cash interest income of the Borrower and
its Subsidiaries for such period” appearing at the end of such sub-clause (B), and (iii) inserting the following new sentence at the end of said definition: 
  

 -8- 

 “In addition to (but without duplication of) the add backs to Consolidated Net Income effected
pursuant to sub-clause (A) of the first sentence of this definition, Consolidated Net Income for any period will be adjusted by adding thereto (to the extent deducted in determining Consolidated Net Income for such period) the amount of all
losses or charges incurred by the Borrower and its Subsidiaries determined on a consolidated basis for such period in connection with any Market Build-Out, as certified by the Chief Financial Officer of the Borrower; provided, however,
(x) such losses and charges only may be so added back to the extent incurred within the two year period following the commencement of any Market Build-Out in a particular market and (y) the aggregate amount of all such losses and charges
that can be added back in any Test Period in respect of all Market Build-Outs shall not exceed $7,500,000.” 
 6. The definition of
“Consolidated Indebtedness” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the text “(w) any Indebtedness of the Headquarters SPV in respect of Headquarters Non-Recourse Mortgage Debt
shall not be included in the calculation of Consolidated Indebtedness,” immediately following the text “provided that” appearing in said definition. 
 7. The definition of “Documents” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the following text at the end of said definition: 
 “, the Senior Notes Documents, the Additional Senior Notes Documents and the Headquarters Non-Recourse Mortgage Debt Documents”. 
 8. The definition of “Indebtedness” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the following
text at the end of said definition: 
 “It is further understood that obligations under any Headquarters Lease between
Headquarters SPV, as lessor, and the Borrower or any Subsidiary Guarantor, as lessee, shall not be considered “Indebtedness” for the purposes of this Agreement.” 
 9. The definition of “L/C Supportable Obligations” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting
the following text immediately after the text “other than obligations in respect of” appearing in said definition: 
 “(t) any
Senior Notes, (u) any Additional Senior Notes, (v) any Headquarters Non-Recourse Mortgage Debt,”. 
 10. The definition of
“Maturity Date” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the text “the Replacement Term Loan Maturity Date,” immediately after the text “the Initial Term Loan Maturity
Date,” appearing in said definition. 
  

 -9- 

 11. The definition of “Note” appearing in Section 1.01 of the Credit Agreement is
hereby amended by inserting the text “each Replacement Term Note,” immediately after the text “each Initial Term Note,” appearing in said definition. 
 12. The definition of “Permitted Subordinated Debt” appearing in Section 1.01 is hereby amended by (i) deleting the text “incurred in connection with a Permitted Acquisition”
appearing in said definition and (ii) inserting the text “mandatory” immediately before the phrase “redemption, sinking fund” appearing in clause (iii) of the proviso to said definition. 
 13. The definitions of “Scheduled Initial Term Loan Repayment”, “Scheduled Initial Term Loan Repayment Date”,
“Scheduled Repayment” and “Scheduled Repayment Date” appearing in Section 1.01 shall be amended by replacing the text “Initial” with the text “Replacement” in each instance in which it
appears in said definitions and inserting said revised definitions in the appropriate alphabetical order in such Section 1.01. 
 14.
The definition of “Term Loan” appearing in Section 1.01 of the Credit Agreement is hereby amended by inserting the text “, each Replacement Term Loan” immediately after the text “Initial Term Loan” appearing
in said definition. 
 15. The definition of “Test Period” appearing in Section 1.01 of the Credit Agreement is hereby
amended by deleting the text “; provided that for purposes of any calculation of Fixed Charges for any “Test Period” ending on or prior to March 31, 2008, Fixed Charges shall be calculated in accordance with the last
sentence appearing in the definition of “Fixed Charges”“ appearing in said definition. 
 16. The definition of “Total
Leverage Ratio” appearing in Section 1.01 of the Credit Agreement is hereby amended by deleting the text “and 10.04(xi)” appearing in said definition and inserting the following text in lieu thereof: 
 “, 10.04(xi), 10.04(xvii) and 10.04(xviii)”. 
 17. The definition of “Tranche” appearing in Section 1.01 of the Credit Agreement is hereby amended by deleting the text “In addition, and” appearing in the second sentence of said
definition and inserting the following text in lieu thereof: 
 “In addition, (i) Replacement Term Loans incurred on
the First Amendment Effective Date (including through a Replacement Term Loan Conversion) shall be a separate Tranche of Loans and (ii)”. 
 18. Section 2.01 of the Credit Agreement is hereby amended by inserting the following new clause (f) immediately following clause (e) of said Section: 
  

 -10- 

 “(f) (A) (I) Each Consenting Initial Term Lender severally agrees to convert
(the “Replacement Term Loan Conversion”), on the First Amendment Effective Date, all Initial Term Loans of such Consenting Initial Term Lender outstanding on the First Amendment Effective Date (immediately prior to giving effect
thereto) into new term loans hereunder owing by the Borrower (each such term loan, a “Converted Replacement Term Loan” and, collectively, the “Converted Replacement Term Loans”) and (II) each Lender with a
Replacement Term Loan Commitment severally agrees to make, on the First Amendment Effective Date, a term loan or term loans in an amount equal to its Replacement Term Loan Commitment (each, an “Additional Replacement Term Loan” and,
collectively, the “Additional Replacement Term Loans” and, together with the Converted Replacement Term Loans, collectively, the “Replacement Term Loans”) to the Borrower, which Replacement Term Loans (i) shall
be denominated in Dollars, (ii) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans, provided that (x) all Replacement Term
Loans made as part of the same Borrowing shall, unless specifically provided herein, consist of Replacement Term Loans of the same Type and (y) Borrowings of Replacement Term Loans on the First Amendment Effective Date shall be subject to the
provisions set forth in clause (B) of this Section 2.01(f) and (iii) shall not exceed for any Lender, in aggregate initial principal amount, that amount which equals the sum of (x) the aggregate principal amount of the Initial
Term Loans, if any, made by such Lender and outstanding on the First Amendment Effective Date (immediately prior to giving effect thereto) as set forth on Schedule I under the heading “Converted Replacement Term Loans” and
(y) the Replacement Term Loan Commitment of such Lender (if any) as in effect on the First Amendment Effective Date (before giving effect to any termination thereof on such date pursuant to Section 4.03(g)). Once repaid, Replacement Term
Loans incurred hereunder may not be reborrowed. 
 (B) (i) Each Borrowing of Initial Term Loans outstanding on the First
Amendment Effective Date immediately prior to the Replacement Term Loan Conversion and maintained as Eurodollar Loans (each, an “Existing Initial Term Loan Borrowing”) shall, upon the occurrence of the Replacement Term Loan
Conversion, be deemed to be a new Borrowing of Replacement Term Loans for all purposes of this Agreement, (ii) each such newly-deemed Borrowing of Replacement Term Loans shall be subject to the same Interest Period and Eurodollar Rate as the
Existing Initial Term Loan Borrowing to which it relates (as if no new Borrowing had in fact occurred), (iii) Additional Replacement Term Loans shall be initially incurred pursuant to a single Borrowing of Eurodollar Loans which shall be added
to (and thereafter be deemed to constitute a part of) each such newly-deemed Borrowing of Replacement Term Loans described in preceding sub-clause (i) on a pro rata basis (based on the 

  

 -11- 

 
relative sizes of the various such newly-deemed Borrowings of Replacement Term Loans) and (iv) in connection with the Replacement Term Loan Conversion
and the incurrence of Additional Replacement Term Loans pursuant to Section 2.01(f)(A), the Administrative Agent shall (and is hereby authorized to) take all appropriate actions to ensure that all Lenders with outstanding Replacement Term Loans
(after giving effect to the Replacement Term Loan Conversion and the incurrence of Additional Replacement Term Loans pursuant to Section 2.01(f)(A)) participate in each newly-deemed Borrowing of Replacement Term Loans on a pro
rata basis. 
 (C) In connection with the Replacement Term Loan Conversion and the incurrence of Additional Replacement
Term Loans pursuant to Section 2.01(f)(A), the Lenders and the Borrower hereby agree that, notwithstanding anything to the contrary contained in this Agreement, but without duplication, (i) the Borrower shall pay each Lender making
Additional Replacement Term Loans, upon its written request (which request shall set forth the basis for requesting such compensation and reasonably detailed calculations thereof), such amount as is necessary to compensate such Lender for its losses
resulting from the making of such Additional Replacement Term Loans in the middle of an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon the rates then applicable thereto) and (ii) the
Borrower shall be obligated to pay to the respective Lenders any breakage or other costs of the type referred to in Section 2.11 (if any) incurred in connection with the Replacement Term Loan Conversion and/or the actions taken pursuant to
preceding clause (B) of this Section 2.01(f). 
 (D) To the extent requested by any Replacement Term Loan Lender, a
Replacement Term Note will be issued at the Borrower’s expense to such Replacement Term Lender, to be in conformity with the requirements of Section 2.05 (with appropriate modification) to the extent needed to reflect the Replacement Term
Loans made (or to be made) by such Replacement Term Loan Lender. Each such Replacement Term Loan Lender with an outstanding Initial Term Note which requests a Replacement Term Note as contemplated by this clause (D) agrees to either return the
outstanding Initial Term Note held by it to the Borrower for cancellation or deliver a customary lost note affidavit with respect thereto.” 
 19. Section 2.03(a) of the Credit Agreement is hereby amended by (i) inserting the text “Additional Replacement Term Loans,” immediately following the text “Initial Term Loans,” appearing in sub-clause
(iii) of the first sentence of said Section and (ii) inserting the text “(but otherwise subject to Section 2.01(f) in the case of Additional Replacement Term Loans)” immediately following the text “the initial Interest
Period to be applicable thereto” appearing in sub-clause (iv) of said definition. 
  

 -12- 

 20. Section 2.05(a) of the Credit Agreement is hereby amended by (i) deleting the word
“and” appearing at the end of clause (iii) of said Section and (ii) inserting the following new clause (v) immediately before the period appearing at the end of said Section: 
 “, and (v) in the case of Replacement Term Loans, by a promissory note duly executed and delivered by the Borrower substantially in the form of
Exhibit B-5, with blanks appropriately completed in conformity herewith (each a “Replacement Term Note” and, collectively, the “Replacement Term Notes”)”. 
 21. Section 2.07 of the Credit Agreement is hereby amended by (i) inserting the text “Additional Replacement Term Loans,” immediately
following the text “Initial Term Loans,” appearing in the first sentence of said Section and (ii) inserting the text “Replacement Term Loan Commitments,” immediately following the text “Initial Term Commitments,”
appearing in the first sentence of said Section. 
 22. Section 2.09 of the Credit Agreement is hereby amended by inserting the text
“and the provisions of 2.01(f)(A)” immediately following the text “2.01(a)(iii)” appearing in said Section. 
 23.
Section 2.14(a) of the Credit Agreement is hereby amended by (i) deleting the text “each of the Financial Covenants” appearing in sub-clause (z) of said definition and inserting the text “the Financial Covenant” in
lieu thereof, (ii) deleting the text “$100,000,000” appearing in clause (iv) of said Section and inserting the text “$225,000,000” in lieu thereof and (iii) deleting the word “Initial” appearing in each
of sub-clauses (vi)(I) and (II) of said definition and inserting the word “Replacement” in lieu thereof in each such place. 
 24.
Section 4.03 of the Credit Agreement is hereby amended by inserting the following new clause (g) at the end of said Section: 
 “(g) The Total Replacement Term Loan Commitment (and the Replacement Term Loan Commitment of each Lender) shall terminate in its entirety on the First Amendment Effective Date (immediately after giving effect to
any incurrence of Converted Replacement Term Loans and Additional Replacement Term Loans on such date).” 
 25. Section 5.01(a) of
the Credit Agreement is hereby amended by inserting the text “Replacement Term Loans,” immediately following the text “Initial Term Loans,” appearing in clause (i) of said Section. 
 26. Section 5.02(b)(i) of the Credit Agreement is hereby amended by deleting said Section in its entirety and replacing it with the following text:

 “(b) (i) In addition to any other mandatory repayments pursuant to this Section 5.02, on each date set forth
below (each, a “Scheduled Replacement Term Loan Repayment Date”), the Borrower shall be 

  

 -13- 

 
required to repay that principal amount of Replacement Term Loans, to the extent then outstanding, as is set forth opposite each such date below (each such
repayment, as the same may be (x) reduced as provided in Section 5.01(a), 5.01(b) or 5.02(g) or (y) increased as provided in Section 2.14(c), a “Scheduled Replacement Term Loan Repayment”): 
  

					
	 Scheduled Replacement Term Loan Repayment Date
	  	Amount	 
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2007
	  	$	  1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2007
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending March 31, 2008
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending June 30, 2008
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2008
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2008
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending March 31, 2009
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending June 30, 2009
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2009
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2009
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending March 31, 2010
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending June 30, 2010
	  	$	1,250,000	 

 -14- 

					
	 Scheduled Replacement Term Loan Repayment Date
	  	Amount	 
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2010
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2010
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending March 31, 2011
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending June 30, 2011
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2011
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2011
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending March 31, 2012
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending June 30, 2012
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending September 30, 2012
	  	$	1,250,000	 
		
	 The last Business Day of the Borrower’s fiscal quarter ending December 31, 2012
	  	$	1,250,000	 
		
	 Replacement Term Loan Maturity Date
	  	$	472,500,000	 

 27. Section 5.02(c) of the Credit Agreement is hereby amended by (i) inserting the text
“(other than clause (xvii) thereof)” immediately after the text “Section 10.04” appearing in said definition and (ii) deleting the text “Effective Date” appearing in said definition and inserting the text
“First Amendment Effective Date” in lieu thereof. 
 28. Section 8.08(a) of the Credit Agreement is hereby amended by
inserting the following new sentence at the end of said Section: 
 “All proceeds of Additional Replacement Term Loans shall be used on
the First Amendment Effective Date solely to repay outstanding Initial Term Loans of Non-Consenting Initial Term Loan Lenders (if any).” 
  

 -15- 

 29. Section 9.01(e) of the Credit Agreement is hereby amended by (i) deleting the text
“10.03(xiv)” appearing in sub-clause (i) of said Section, (ii) inserting the text “10.05(xx),” immediately following the text “10.05(xix),” appearing in sub-clause (i) of said Section, (iii) deleting
the text “, 10.07” appearing in sub-clause (i) of said Section and (iv) deleting the text of sub-clause (y) of sub-clause (ii) of said Section and inserting the following text in lieu thereof: 
 “the Retained Excess Cash Flow Amount for the respective Excess Cash Payment Period, and”. 
 30. Section 9.01(g) of the Credit Agreement is hereby amended by inserting the text “, any Senior Notes, any Additional Senior Notes, the
Headquarters Non-Recourse Mortgage Debt” immediately after the text “Permitted Subordinated Debt” appearing in said Section. 
 31. Section 9.14 of the Credit Agreement is hereby restated in its entirety as follows: 
 “9.14 Interest Rate Protection. No
later than 90 days following the First Amendment Effective Date, the Borrower will ensure that at least 50% of its and its Subsidiaries’ total funded Indebtedness (other than Revolving Loans and Swingline Loans), for a period commencing on the
First Amendment Effective Date and ending two years after the Initial Borrowing Date, is a combination of (a) Indebtedness that is subject to interest at a fixed-rate, and/or (b) Indebtedness in respect of which the Borrower has entered into (and
maintains) Interest Rate Protection Agreements mutually acceptable to the Borrower and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arranger, establishing a fixed or maximum interest rate for an aggregate notional principal amount
of such Indebtedness.” 
 32. Section 9.15(a) of the Credit Agreement is hereby amended by deleting the text “Financial
Covenants” each place such text appears in sub-clause (iii) of said Section and inserting the text “Financial Covenant” in lieu thereof in each such place. 
 33. Section 10.01 of the Credit Agreement is hereby amended by (i) deleting the word “and” appearing at the end of clause
(xxv) of said Section, (ii) deleting the period appearing at the end of clause (xxvi) of said Section and inserting “; and” in lieu thereof and (iii) inserting the following new clause (xxvii) immediately following
said clause (xxvi): 
 “(xxvii) Liens on the Headquarters securing the Headquarters Non-Recourse Mortgage Debt.”

 34. Section 10.02 of the Credit Agreement is hereby amended by (i) inserting the text “(other than the Headquarters
SPV)” immediately after the text “any Subsidiary of the Borrower” appearing in clause (ix) of said Section, (ii) deleting the word “and” appearing at the end of clause (xv) of said Section, (iii) deleting
the period appearing at the end of clause (xvi) of said Section and inserting “; and” in lieu thereof, and (iv) inserting the following new clause (xvii) immediately following said clause (xvi): 
 “(xvii) the Headquarters SPV may purchase the Headquarters with the net cash proceeds from the Headquarters Non-Recourse Mortgage
Debt and the net cash proceeds received from the Headquarters SPV Payment Amounts under clause (i) of the definition thereof.” 
 35. Section 10.03 of the Credit Agreement is hereby amended by (i) inserting the word “and” at the end of clause (xii) of said Section and (ii) deleting clauses (xiii) and (xiv) of said Section in
their entirety and inserting the following new clause (xiii) in lieu thereof: 
  

 -16- 

 “(xiii) the Borrower may pay or make additional cash Dividends in any fiscal year of
the Borrower in an aggregate amount not to exceed the lesser of (x) $12,500,000 and (y) the Retained Excess Cash Flow Amount in respect of the immediately preceding fiscal year of the Borrower, so long as (i) no Default or Event of
Default then exists or would result therefrom, (ii) at the time that any such Dividend is paid or made (and immediately after giving effect thereto), (A) the Total Secured Leverage Ratio, calculated on a Pro Forma Basis, is less
than 3.25:1.00, and (B) the Total Leverage Ratio, calculated on a Pro Forma Basis, is no greater than 5.00:1.00, and (iii) prior to the payment or making of such cash Dividend, the Borrower has complied with its obligations under
Section 5.02(e) with respect to the then most recently ended Excess Cash Payment Period.” 
 36. Section 10.04(vi) of the
Credit Agreement as hereby restated in its entirety as follows: 
 “(vi) Indebtedness consisting of guaranties by the
Borrower and the Wholly-Owned Domestic Subsidiaries of the Borrower that are Subsidiary Guarantors of each other’s Indebtedness and lease and other payment obligations of such Persons permitted under this Agreement, other than
(x) obligations in respect of any Headquarters Non-Recourse Mortgage Debt and (y) obligations in respect of Permitted Subordinated Debt, Senior Notes and Additional Senior Notes unless otherwise permitted by the respective definitions,
thereof and Section 10.04(xi), (xvii) or (xviii), as the case may be;” 
 37. Section 10.04(xi) of the Credit Agreement
is hereby restated in its entirety as follows: 
 “(xi) Permitted Subordinated Debt of the Borrower, and unsecured
subordinated guaranties thereof by the Subsidiary Guarantors, so long as (I) all such Indebtedness is incurred in accordance with the requirements of the definition of Permitted Subordinated Debt, (II) no Default or Event of Default exists at
the time of incurrence thereof or would result therefrom, (III) calculations are made by the Borrower demonstrating compliance, on a Pro Forma Basis, with the Financial Covenant for the Calculation Period most recently ended prior to the date of the
respective incurrence of Permitted Subordinated Debt (determined after giving effect to the incurrence of such Permitted Subordinated Debt) and (IV) the Borrower shall have furnished to the Administrative Agent a certificate from an Authorized
Officer certifying as to compliance with the requirements of preceding clauses (I), (II) and (III) and containing the calculations (in reasonable detail) required by preceding clause (III);”. 
 38. Section 10.04(xvi) of the Credit Agreement is hereby amended by inserting the text “(other than the Headquarters SPV)” immediately
after the text “the Borrower and its Subsidiaries” appearing in said Section. 
  

 -17- 

 39. Section 10.04 of the Credit Agreement is hereby further amended by (i) deleting the word
“and” appearing at the end of clause (xv) of said Section, (ii) deleting the period appearing at the end of clause (xvi) of said Section and inserting a semi-colon in lieu thereof and (iii) inserting the following new
clauses immediately following said clause (xvi): 
 “(xvii) Indebtedness of the Borrower represented by the Senior Notes,
and unsecured guaranties thereof by the Subsidiary Guarantors, in an aggregate principal amount not to exceed $300,000,000 (as reduced by any repayments of principal thereof), so long as (I) all such Indebtedness is incurred in accordance with
the requirements of the definition of Senior Notes and (II) all of the Net Cash Proceeds therefrom are used on the First Amendment Effective Date to repay outstanding Initial Term Loans (immediately prior to any incurrence of Replacement Term Loans
on such date); 
 (xviii) Indebtedness of the Borrower represented by any Additional Senior Notes, and unsecured guaranties
thereof by the Subsidiary Guarantors, so long as (I) all such Indebtedness is incurred in accordance with the requirements of the definition of Additional Senior Notes, (II) no Default or Event of Default exists at the time of incurrence
thereof or would result therefrom, (III) calculations are made by the Borrower demonstrating compliance, on a Pro Forma Basis, with the Financial Covenant for the Calculation Period most recently ended prior to the date of the
respective incurrence of Additional Senior Notes (determined after giving effect to the incurrence of such Additional Senior Notes) and (IV) the Borrower shall have furnished to the Administrative Agent a certificate from an Authorized Officer
certifying as to compliance with the requirements of preceding clauses (I), (II) and (III) and containing the calculations (in reasonable detail) required by preceding clause (III); and 
 (xix) (a) Headquarters Non-Recourse Mortgage Debt of the Headquarters SPV in an aggregate principal amount not to exceed $35,000,000,
so long as (I) all such Indebtedness is incurred in accordance with the requirements of the definition of Headquarters Non-Recourse Mortgage Debt, (II) no Default or Event of Default exists at the time of incurrence thereof or would result
therefrom, and (III) in the case of the Headquarters Non-Recourse Mortgage Debt referred to in clause (i) of the definition thereof, the Headquarters SPV shall have utilized the net cash proceeds therefrom to purchase the Headquarters
concurrently with the incurrence of such Indebtedness and (b) any Indebtedness of the Headquarters SPV owing to the Borrower or any of its other Subsidiaries to the extent such Investment by the Borrower or any of its Subsidiaries is permitted
by Section 10.05(xx).” 
  

 -18- 

 40. Section 10.05 of the Credit Agreement is hereby amended by (i) deleting the word
“and” appearing at the end of clause (xviii) of said Section and (ii) deleting clause (xix) of said Section in its entirety and inserting the following new clauses in lieu thereof: 
 “(xix) in addition to Investments permitted by clauses (i) through (xviii) and (xx) of this Section 10.05, the
Borrower and its Subsidiaries (other than the Headquarters SPV) may make additional loans, advances and other Investments to or in a Person other than an Unrestricted Subsidiary and the Headquarters SPV; provided that the aggregate amount of
all loans, advances and other Investments made pursuant to this clause (xix) (determined without regard to any write-downs or write-offs thereof), net of cash repayments of principal in the case of loans, sale proceeds in the case of
Investments in the form of debt instruments and cash equity returns (whether as a distribution, dividend, redemption or sale) in the case of equity investments, shall not exceed $20,000,000 at any time outstanding; and 
 “(xx) the Borrower and its Subsidiaries may make cash Investments in the Headquarters SPV in an aggregate amount not to exceed, when
added to the aggregate amount of lease payments made by the Borrower pursuant to Section 10.06(xi), the Headquarters SPV Payment Amounts.” 
 41. Section 10.06 of the Credit Agreement is hereby amended by (i) deleting the word “and” appearing at the end of clause (ix) of said Section, (ii) deleting the period appearing at the
end of clause (x) of said Section and inserting “; and” in lieu thereof and (iii) inserting the following new clause immediately following said clause (x): 
 “(xi) the Borrower and its Subsidiaries may enter into and perform the Headquarters Leases and make lease payments to the
Headquarters SPV so long as the aggregate amount of lease payments, when added to the aggregate amount of Investments made pursuant to Section 10.05(xx), does not exceed the Headquarters SPV Payment Amounts, and the Headquarters SPV may enter
into and perform the Headquarters Leases and enter into and perform other transactions with the Borrower and its Subsidiaries that are otherwise permitted under this Agreement.” 
 42. Section 10.07 of the Credit Agreement is hereby deleted in its entirety and replaced with the following new text: 
 “10.07 [Intentionally Omitted].” 
 43. Section 10.08 of the Credit Agreement is hereby amended by deleting the existing text thereof in its entirety and inserting the following new text in lieu thereof: 
  

 -19- 

 “10.08 Total Leverage Ratio. The Borrower will not permit the Total Leverage
Ratio at any time to be greater than 5.00:1.00.” 
 44. Section 10.09 of the Credit Agreement is hereby amended by deleting clauses
(iii) and (iv) of said Section in their entirety and inserting the following new clauses (iii) and (iv) in lieu thereof: 
 “(iii) on and after the execution and delivery of any Permitted Subordinated Debt Document, Senior Notes Document, Additional Senior Notes Document or Headquarters Non-Recourse Mortgage Debt Document, make (or
give any notice in respect of) any voluntary or optional payment or prepayment on or redemption, repurchase or acquisition for value of, or any prepayment or redemption as a result of any asset sale, change of control or similar event of (including,
in each case without limitation, by way of depositing with the trustee with respect thereto or any other Person money or securities before due for the purpose of paying when due), any such Indebtedness; provided, however, (x) such
Indebtedness may be converted or exchanged as permitted by clause (iv) of this Section 10.09, (y) so long as no Default or Event of Default then exists or would result therefrom, the Borrower may refinance (and, in connection
therewith, prepay) any then outstanding Senior Notes, Additional Senior Notes or Permitted Subordinated Debt with a new issuance of Additional Senior Notes or Permitted Subordinated Debt and/or with the net cash proceeds received by the Borrower
after the First Amendment Effective Date from the issuance of its Equity Interests, in each case to the extent issued in accordance with the terms of this Agreement, and (z) so long as no Default or Event of Default then exists or would result
therefrom, the Headquarters SPV may refinance (and in connection therewith, prepay) the then outstanding Headquarters Non-Recourse Mortgage Debt in accordance with the definition thereof; 
 (iv) on and after the execution and delivery of any Permitted Subordinated Debt Document, Senior Notes Document, Additional Senior Notes
Document or Headquarters Non-Recourse Mortgage Debt Document, amend or modify, or permit the amendment or modification of any provision of any such Document, provided that nothing in this clause (iv) shall (x) restrict the
conversion or exchange of any Indebtedness or other obligations under any such Document into or for Equity Interests of the Borrower permitted to be issued under this Agreement or (y) prohibit any amendments or modifications thereto that are
not adverse to the interests of the Lenders in any material respect so long as such Indebtedness (as so amended or modified) would have satisfied the requirements contained in the respective definitions thereof and the other provisions of this
Agreement relating to such Indebtedness at the time of the original incurrence thereof assuming such amendments or modifications had been made at such time (it being understood that in no event shall (i) the interest rate thereon be increased
or (ii) the subordination provisions of any Permitted Subordinated Debt be amended or modified in a manner adverse to the interests of the Lenders).” 
  

 -20- 

 45. Section 10.10 of the Credit Agreement is hereby amended by inserting the text “the Senior
Notes Documents, the Additional Senior Notes Documents and, in the case of the Headquarters SPV only, the Headquarters Non-Recourse Mortgage Debt Documents” immediately following the text “Permitted Subordinated Debt Documents”
appearing in clause (iii) thereof. 
 46. Section 10.12 of the Credit Agreement is hereby amended by inserting the following new
clause (c) at the end of said Section: 
 “(c) Notwithstanding anything to the contrary contained in this Agreement,
the Borrower shall not permit the Headquarters SPV to conduct, transact or otherwise engage in any business or operations other than (i) those incidental to its ownership of the Headquarters (and the execution and performance of the
Headquarters Leases), (ii) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (iii) the incurrence and performance of its obligations with respect to the
Headquarters Non-Recourse Mortgage Debt, (iv) participating in tax, accounting and other administrative matters as a member of the consolidated group of the Borrower and (v) activities incidental to the businesses or activities described
in the foregoing clauses (i) through (iv); provided, that notwithstanding the foregoing, the Headquarters SPV shall not (x) create or acquire (by way of merger, consolidation or otherwise) any Subsidiaries or Equity Interests
in any other Person, or (y) own or acquire any material assets (other than the Headquarters or assets incidental to the ownership of the Headquarters).” 
 47. Section 10.13 of the Credit Agreement is hereby amended by inserting the following new clause (d) at the end of said Section: 
 “(d) Notwithstanding anything to the contrary contained in this Agreement or any other Credit Document, the Headquarters SPV shall
not be required to become a Credit Party hereunder (and shall not be required to execute and deliver the Subsidiaries Guaranty or any other Credit Document or grant any security interest on any of it assets), and the parent company that directly
owns the Headquarters SPV shall not be required to pledge the Equity Interests in the Headquarters SPV, in each case to the extent that it would be prohibited in doing so by the terms of the Headquarters Non-Recourse Mortgage Debt.” 

48. Schedule I to the Credit Agreement is hereby supplemented by adding thereto the tabular information appearing on Schedule I attached hereto.

  

 -21- 

 49. Annex I to this First Amendment is hereby inserted as Exhibit B-5 to the Credit Agreement.

 50. The Lenders hereby further agree that (i) the form of Notice of Borrowing may be amended to reflect Replacement Term Loans and
(ii) the forms of Intercompany Note and Shareholder Subordinated Note may be amended, on a basis satisfactory to the Borrower and the Administrative Agent, to reflect that any Senior Notes, Additional Senior Notes or Permitted Subordinated Debt
be treated as “senior indebtedness” under the subordination provisions of the Intercompany Note and any Shareholder Subordinated Note to the extent required by the terms of the respective Documents. 
 51. The Lenders hereby consent to the application of the Replacement Term Loans on the terms provided for in this First Amendment. 
 52. Each Lender holding an Initial Term Note agrees, at the request of the Borrower, to use its commercially reasonable efforts to return the same to the
Borrower for cancellation promptly following the First Amendment Effective Date or deliver a customary lost note affidavit with respect thereto. 
  

	II.	Miscellaneous Provisions. 

 1. In order to induce
the Lenders to enter into this First Amendment, the Borrower hereby represents and warrants that: 
 (a) no Default or Event
of Default exists as of the First Amendment Effective Date (as defined below), both immediately before and immediately after giving effect thereto; 
 (b) all of the representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects on the First Amendment Effective Date, both immediately
before and immediately after giving effect thereto, with the same effect as though such representations and warranties had been made on and as of the First Amendment Effective Date (it being understood that any representation or warranty made as of
a specific date shall be required to be true and correct in all material respects only as of such specific date); and 
 (c)
concurrently with the effectiveness of this First Amendment, the proceeds of the Additional Replacement Term Loans shall be immediately applied by the Borrower to repay all outstanding Initial Term Loans of Non-Consenting Initial Term Loan Lenders
(if any). 
 2. This First Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other
provision of the Credit Agreement or any other Credit Document. 
  

 -22- 

 3. This First Amendment may be executed in any number of counterparts and by the different parties hereto
on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the Borrower and the
Administrative Agent. 
 4. THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CONFLICTS OF LAWS PROVISIONS THEREOF). 
 5. This First
Amendment shall become effective on the date (the “First Amendment Effective Date”) when each of the following conditions shall have been satisfied: 
 (i) the Borrower, Lenders constituting the Required Lenders (determined immediately prior to giving effect to the First Amendment), each
Lender with a Replacement Term Loan Commitment, each Lender converting Initial Term Loans into Converted Replacement Term Loans pursuant to the Replacement Term Loan Conversion, each Lender with a Revolving Loan Commitment, the Swingline Lender and
each Issuing Lender shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New
York, NY 10036, attention: May Yip (facsimile number: 212-354-8113, email address: myip@whitecase.com); 
 (ii) there
shall have been delivered to the Administrative Agent for the account of each Consenting Initial Term Loan Lender and each Lender with a Replacement Term Loan Commitment which has requested same, an appropriate Replacement Term Note executed by the
Borrower, in each case in the amount, maturity and otherwise as provided in the Credit Agreement (after giving effect to this First Amendment); 
 (iii) (x) all accrued and unpaid interest on all Initial Term Loans shall have been paid in full (regardless of whether or not the Credit Agreement otherwise requires a payment of such interest at such time), and
(y) the principal of all outstanding Initial Term Loans of Non-Consenting Initial Term Loan Lenders shall have been repaid in full; 
 (iv) there shall have been delivered to the Administrative Agent (w) by each Credit Party (other than the Borrower) a duly authorized and executed acknowledgment agreement in form and substance satisfactory to
the Administrative Agent (the “Acknowledgment Agreement”), pursuant to which (I) each such Credit Party shall acknowledge that all Loans (including the Replacement Term Loans) are secured pursuant to the Pledge Agreement and
the Security Agreement and (II) each Subsidiary Guarantor shall acknowledge that all 

  

 -23- 

 
Loans (including the Replacement Term Loans) are guaranteed pursuant to the Subsidiaries Guaranty, (x) copies of recent good standing certificates of
each Credit Party as reasonably requested by the Administrative Agent, (y) copies of resolutions of the board of directors of each Credit Party approving and authorizing the execution, delivery and performance of this First Amendment or the
Acknowledgment Agreement, as the case may be, certified as of the First Amendment Effective Date by the corporate secretary or an assistant secretary of such Credit Party as being in full force and effect without modification or amendment, and
(z) opinions of counsel (including regulatory counsel) in form and substance reasonably satisfactory to the Administrative Agent, covering such matters incident to this First Amendment and the transactions contemplated hereby as the
Administrative Agent may reasonably request; 
 (v) the Borrower shall have obtained corporate credit ratings as to itself and
facility ratings for the Replacement Term Loans, in each case from S&P and Moody’s, which ratings shall be in effect on the First Amendment Effective Date; 
 (vi) the Borrower shall have issued Senior Notes in an aggregate principal amount of approximately $300,000,000 and used the Net Cash
Proceeds therefrom to repay outstanding Initial Term Loans in accordance with the terms of the Credit Agreement as in effect immediately prior to giving effect to this First Amendment (and, in any event, immediately prior to the incurrence of any
Replacement Term Loans on the First Amendment Effective Date); 
 (vii) the Administrative Agent shall have received a
solvency certificate from the Chief Financial Officer of the Borrower in form and substance reasonably satisfactory to the Administrative Agent; and 
 (viii) the Borrower shall have paid all fees and expenses (including reasonable legal fees and expenses) of the Administrative Agent, any Joint Lead Arrangers, any Lender or any of their respective affiliates to the
extent then due and payable in connection with this First Amendment. 
 6. By executing and delivering a copy hereof, the Borrower hereby
agrees that all Loans (including, without limitation, the Replacement Term Loans) are secured pursuant to the Pledge Agreement and the Security Agreement. 
 7. From and after the First Amendment Effective Date, all references in the Credit Agreement and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement, as
modified hereby. 
 * * * 
  

 -24- 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver
this First Amendment as of the date first above written. 
  

			
	PAETEC HOLDING CORP.
		
	 By:
	 	 /s/ Charles E. Sieving

	 Name:
	 	Charles E. Sieving
	 Title:
	 	EVP & GC

					
	DEUTSCHE BANK TRUST COMPANY
AMERICAS, Individually and as Administrative
Agent	 	
			
	By	 	 /s/ Anca Trifan
	 	
	Name:	 	Anca Trifan	 	
	Title:	 	Director	 	
			
	By	 	 /s/ [Illegible]
	 	
	Name:	 		 	
	Title:	 		 	

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	CIT Lending Services Corporation
		
	 By:
	 	 /s/ Anthony Holland

	 Name:
	 	Anthony Holland
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	Merrill Lynch Capital Corp.
		
	 By:
	 	 /s/ Arminee Bowler

	 Name:
	 	ARMINEE BOWLER
	 Title:
	 	VICE PRESIDENT
	
	 MANUFACTURERS AND TRADERS TRUST COMPANY:

		
	 By:
	 	 /s/ Jon M. Fogle

	 Name:
	 	Jon M. Fogle
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	 WACHOVIA BANK, NATIONAL ASSOCIATION

		
	By:	 	 /s/ Russ Lyons

	Name:	 	Russ Lyons
	Title:	 	Director

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE
AGENT

	
	 NAME OF INSTITUTION:

	
	Galaxy CLO 2003-1, Ltd.
	By: AIG Global Investment Corp.,
	Its Collateral Manager
		
	By:	 	 /s/ W. Jeffrey Baxter

	Name:	 	W. Jeffrey Baxter
	Title:	 	Managing Director
	
	Galaxy IV CLO, Ltd.
	By: AIG Global Investment Corp.,
	Its Collateral Manager
		
	By:	 	 /s/ W. Jeffrey Baxter

	Name:	 	W. Jeffrey Baxter
	Title:	 	Managing Director
	
	Galaxy VI CLO, Ltd.
	By: AIG Global Investment Corp.
	Its Collateral Manager
		
	By:	 	 /s/ W. Jeffrey Baxter

	Name:	 	W. Jeffrey Baxter
	Title:	 	Managing Director
	
	Galaxy VIII CLO, Ltd.
	By: AIG Global Investment Corp.,
	Its Collateral Manager
		
	By:	 	 /s/ W. Jeffrey Baxter

	Name:	 	W. Jeffrey Baxter
	Title:	 	Managing Director

			
	 Saturn CLO, Ltd.

	By: AIG Global Investment Corp.,
	Its Collateral Manager
		
	 By:
	 	 /s/ W. Jeffrey Baxter

	 Name:
	 	W. Jeffrey Baxter
	 Title:
	 	Managing Director
	
	 American International Group, Inc.

	 By: AIG Global Investment Corp.,

	Its Investment Adviser
		
	 By:
	 	 /s/ W. Jeffrey Baxter

	 Name:
	 	W. Jeffrey Baxter
	 Title:
	 	Managing Director
	
	 SunAmerica Senior Floating Rate Fund

	 By: AIG Global Investment Corp.,

	Investment Sub-Adviser
		
	 By:
	 	 /s/ W. Jeffrey Baxter

	 Name:
	 	W. Jeffrey Baxter
	 Title:
	 	Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE
AGENT

	
	NAME OF INSTITUTION:
	
	HighRidge CLO 2007-1 Whse
		
	By:	 	 /s/ Brendan Driscoll

	Name:	 	Brendan Driscoll
	Title:	 	CFO
	
	 NAME OF INSTITUTION:

	
	 LANDMARK III CDO Limited

	 By: Aladdin Capital Management, as a Lender

		
	By:	 	 /s/ James Bragg

	Name:	 	James Bragg
	Title:	 	Director
	
	NAME OF INSTITUTION:
	
	LANDMARK IV CDO Limited
	
	By: Aladdin Capital Management, as a Lender
		
	By:	 	 /s/ James Bragg

	Name:	 	James Bragg
	Title:	 	Director
	
	 NAME OF INSTITUTION:

	
	 LANDMARK V CDO Limited

	
	 By: Aladdin Capital Management, as a Lender

		
	 By:
	 	 /s/ James Bragg

	 Name:
	 	James Bragg
	 Title:
	 	Director
	
	 NAME OF INSTITUTION:

	
	 AllianceBernstein Institutional Investments – Senior Loan Portfolio

	By: AllianceBernstein L.P., as Investment Advisor
		
	By:	 	 /s/ Michael E. Sohr

	Name:	 	Michael E. Sohr
	Title:	 	Senior Vice President
	
	 NAME OF INSTITUTION:

	
	 ABCLO 2007-I Ltd

	By: AllianceBernstein L.P., as Investment Advisor
		
	 By:
	 	 /s/ Michael E. Sohr

	 Name:
	 	Michael E. Sohr
	 Title:
	 	Senior Vice President
	
	 NAME OF INSTITUTION:

	
	 Grand Central Asset Trust, HFV Series

		
	By:	 	 /s/ Janet Haack

	Name:	 	Janet Haack
	Title:	 	As Attorney In Fact

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 ARES ENHANCED LOAN INVESTMENT STRATEGY II,
 LTD.

		
	 By:
	 	 Ares Enhanced Loan Management II, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares Enhanced Loan GP II, LLC
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	ARES ENHANCED LOAN INVESTMENT STRATEGY IR, LTD.
		
	 By:
	 	 Ares Enhanced Loan Management IR, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares Enhanced Loan GP IR, LLC
 Its General
Partner

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT
	
	ARES LEVERAGED FINANCE GENERAL I
		
	 By:
	 	ARES CLO MANAGEMENT XI, L.P.
		
	 By:
	 	ARES CLO GP XI, LLC, ITS GENERAL PARTNER
		
	 By:
	 	ARES MANAGEMENT LLC, ITS MANAGER
		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 ARES LEVERAGED FINANCE GENERAL III

	
	 By: ARES CLO MANAGEMENT III, L.P.

	
	By: ARES CLO GP III, LLC, ITS GENERAL PARTNER
	
	By: ARES MANAGEMENT LLC, ITS MANAGER
		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	ARES ENHANCED CREDIT OPPORTUNITIES FUND LTD.
	
	 By: Ares Enhanced Credit Opportunities Fund Management,
 L.P.,

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT
	
	 Ares X CLO Ltd.

		
	 By:
	 	 Ares CLO Management X, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP X, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 Ares IIIR/IVR, CLO Ltd.

		
	 By:
	 	 Ares CLO Management IIIR/IVR, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP IIIR/IVR, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	 Ares VR CLO Ltd.

		
	 By:
	 	 Ares CLO Management VR, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP VR, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	 Ares VIR CLO Ltd.

		
	 By:
	 	 Ares CLO Management VIR, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP VIR, LLC,
 Its General
Partner

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 Ares VI CLO Ltd.

		
	 By:
	 	 Ares CLO Management VI, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP VI, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	 Ares VII CLO Ltd.

		
	 By:
	 	 Ares CLO Management VII, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP VII, LLC,
 Its General
Partner

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT
	
	 Ares VIII CLO Ltd.

		
	 By:
	 	 Ares CLO Management VIII, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP VIII, LLC,
 Its General
Partner

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	Ares IX CLO Ltd.
		
	 By:
	 	 Ares CLO Management IX, L.P.,
 Investment
Manager

		
	 By:
	 	 Ares CLO GP IX, LLC,
 Its General
Partner

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT
	
	 CONFLUENT 2 LIMITED

	By: Ares Private Account Management I, L.P., as Sub-Manager
	
	 By: Ares Private Account Management I GP, LLC, as General
 Partner

	
	 By: Ares Management LLC, as Manager

		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	 SEI Global Master Fund plc – The SEI High Yield Fixed
 Income Fund

		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	SEI Institutional Investment Trust – High Yield Bond Fund
		
	By:	 	 /s/ SETH J. BRUFSKY

	Name:	 	SETH J. BRUFSKY
	Title:	 	VICE PRESIDENT
	
	SEI Institutional Managed Trust – High Yield Bond Fund
		
	 By:
	 	 /s/ SETH J. BRUFSKY

	 Name:
	 	SETH J. BRUFSKY
	 Title:
	 	VICE PRESIDENT
	
	 BABSON CLO LTD. 2003-I

	 BABSON CLO LTD. 2004-I

	 BABSON CLO LTD. 2004-II

	 BABSON CLO LTD. 2005-I

	 BABSON CLO LTD. 2005-II

	 BABSON CLO LTD. 2005-III

	 BABSON CLO LTD. 2006-I

	 BABSON CLO LTD. 2006-II

	 BABSON CLO LTD. 2007-I

	 BABSON MID-MARKET CLO LTD. 2007-I

	By: Babson Capital Management LLC as Collateral Manager
		
	By:	 	 /s/ [Illegible]

	
	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	By: Babson Capital Management LLC as Investment Adviser
		
	 By:
	 	 /s/ [Illegible]

	
	 C.M. LIFE INSURANCE COMPANY

	By: Babson Capital Management LLC as Investment Sub-Adviser
		
	 By:
	 	 /s/ [Illegible]

	
	 BABSON CREDIT STRATEGIES CLO, LTD.

	By: Babson Capital Management LLC as Collateral Manager
		
	 By:
	 	 /s/ [Illegible]

	
	BILL & MELINDA GATES FOUNDATION TRUST
	By: Babson Capital Management LLC as Investment Adviser
		
	 By:
	 	 /s/ [Illegible]

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 Atlas Loan Funding 1, LLC

	By: Atlas Capital Funding, Ltd.
	By: Structured Asset Investors, LLC
	Its Investment Manager
		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	 Ballyrock CLO 2006-1 LTD

	 BALLYROCK Investment Advisors LLC, as Collateral
 Manager

		
	 By:
	 	 /s/ Lisa Rymut

	 Name:
	 	Lisa Rymut
	 Title:
	 	Assistant Treasurer
	
	 NAME OF INSTITUTION:

	
	 Ballyrock CLO 2006-2 LTD

	 BALLYROCK Investment Advisors LLC, as Collateral
 Manager

		
	 By:
	 	 /s/ Lisa Rymut

	 Name:
	 	Lisa Rymut
	 Title:
	 	Assistant Treasurer

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	BEAR STEARNS INVESTMENT PRODUCTS INC.
		
	 By:
	 	 /s/ JOHN McDERMOTT

	 Name:
	 	JOHN McDERMOTT
	 Title:
	 	VICE PRESIDENT
	
	 NAME OF INSTITUTION: BlackRock

	
	BlackRock Senior Income Series
	BlackRock Senior Income Series II
	BlackRock Senior Income Series III
	BlackRock Senior Income Series IV
	Merrill Lynch Global Investment Series: Income Strategies Portfolio
	Magnetite Asset Investors III L.L.C.
	Magnetite V CLO, Limited
	Missouri State Employees’ Retirement System
	Senior Loan Portfolio
	Merrill Lynch Senior Floating Rate Portfolio
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Authorized Signatory
	
	 NAME OF INSTITUTION:

	
	 Loan Funding VI LLC
 For itself or as agent for
 Corporate Loan Funding VI LLC

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Prospect Park CDO Ltd.

	 By: Blackstone Debt Advisors L.P.

	 As Collateral Manager

		
	 By:
	 	 /s/ Dean T. Criares

	 Name:
	 	Dean T. Criares
	 Title:
	 	Senior Managing Director
	
	 NAME OF INSTITUTION:

	
	 Inwood Park CDO Ltd.

	 By: Blackstone Debt Advisors L.P.
 As
Collateral Manager

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director
	
	 NAME OF INSTITUTION:

	
	 Monument Park CDO Ltd.

	 By: Blackstone Debt Advisors L.P.
 As
Collateral Manager

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	 Essex Park CDO Ltd.

	 By: Blackstone Debt Advisors L.P.
 As
Collateral Manager

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director
	
	 NAME OF INSTITUTION:

	
	 Lafayette Square CDO Ltd.

	 By: Blackstone Debt Advisors L.P.
 As
Collateral Manager

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director
	
	 NAME OF INSTITUTION:

	
	 Union Square CDO Ltd.

	 By: Blackstone Debt Advisors L.P.
 As
Collateral Manager

		
	By:	 	 /s/ Dean T. Criares

	Name:	 	Dean T. Criares
	Title:	 	Senior Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE
AGENT

	
	 NAME OF INSTITUTION:

	
	 BlueMountain CLO Ltd.

		
	By:	 	 /s/ Kimberly Reina

	Name:	 	Kimberly Reina
	Title:	 	Associate
	
	 NAME OF INSTITUTION:

	
	 BlueMountain CLO III Ltd.

		
	 By:
	 	 /s/ Kimberly Reina

	 Name:
	 	Kimberly Reina
	 Title:
	 	Associate
	
	 NAME OF INSTITUTION:

	
	 BlueMountain CLO IV Ltd.

		
	 By:
	 	 /s/ Kimberly Reina

	 Name:
	 	Kimberly Reina
	 Title:
	 	Associate

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE
AGENT

	
	 NAME OF INSTITUTION:

	
	 Boldwater CBNA Loan Funding LLC, for itself or as agent
 for Boldwater CFPI Loan Funding LLC

		
	 By:
	 	 /s/ Janet Haack

	 Name:
	 	Janet Haack
	 Title:
	 	As Attorney In Fact
	
	 NAME OF INSTITUTION:

	
	 BATTALION CLO 2007-I Ltd

		
	By:	 	 /s/ John Forys

	Name:	 	 John Forys

	Title:	 	 Trader

	
	 Gallatin CLO III 2007-1, Ltd.
 As Assignee

	 By: Bear Stearns Asset Management, Inc.
 as
its Collateral Manager

		
	 By:
	 	 /s/ Niall D. Rosenzweig

	 Name:
	 	Niall D. Rosenzweig
	 Title:
	 	Managing Director

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	GALLATIN CLO II 2005-1 LTD.
	 BY: BEAR STEARNS ASSET MANAGEMENT INC.
 AS ITS COLLATERAL MANAGER

		
	By:	 	 /s/ Niall D. Rosenzweig

	Name:	 	Niall D. Rosenzweig
	Title:	 	Managing Director
	
	 Grayston CLO II 2004-1 LTD.

	 By: Bear Stearns Asset Management, Inc.,
 as
its Collateral Manager

		
	 By:
	 	 /s/ Niall D. Rosenzweig

	 Name:
	 	Niall D. Rosenzweig
	 Title:
	 	Managing Director
	
	Gallatin Funding I Ltd.
	 By: Bear Stearns Asset Management Inc.
 as
its Collateral Manager

		
	By:	 	 /s/ Niall D. Rosenzweig

	Name:	 	Niall D. Rosenzweig
	Title:	 	Managing Director

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK
TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Laguna Funding LLC
		
	By:	 	 /s/ Tara E. Kenny

	Name:	 	Tara E. Kenny
	Title:	 	Assistant Vice President
	
	NAME OF INSTITUTION:
	
	By: Callidus Debt Partners CLO Fund II, Ltd.
	 By: Its Collateral Manager,
 Callidus Capital
Management, LLC

		
	By:	 	 /s/ PETER R. BENNITT

	Name:	 	PETER R. BENNITT
	Title:	 	PRINCIPAL
	
	NAME OF INSTITUTION:
	
	By: Callidus Debt Partners CLO Fund III, Ltd.
	 By: Its Collateral Manager,
 Callidus Capital
Management, LLC

		
	By:	 	 /s/ PETER R. BENNITT

	Name:	 	PETER R. BENNITT
	Title:	 	PRINCIPAL

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK
TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	By: MAPS CLO Fund II, Ltd.
	 By: Its Collateral Manager,
 Callidus Capital
Management, LLC

		
	By:	 	 /s/ PETER R. BENNITT

	Name:	 	PETER R. BENNITT
	Title:	 	PRINCIPAL
	
	NAME OF INSTITUTION:
	
	By: Callidus Debt Partners CLO Fund VI, Ltd.
	 By: Its Collateral Manager,
 Callidus Capital
Management, LLC

		
	By:	 	 /s/ PETER R. BENNITT

	Name:	 	PETER R. BENNITT
	Title:	 	PRINCIPAL
	
	NAME OF INSTITUTION:
	
	Canadian Imperial Bank of Commerce
		
	By:	 	 /s/ John O’Dowd

	Name:	 	John O’Dowd
	Title:	 	Authorized Signatory

  

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK
TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION
	
	CANARAS SUMMIT CLO LTD
	 By: Canaras Capital Management LLC
 As
Sub-Investment Adviser

		
	By:	 	 /s/ Benjamin S. Steger

	Name:	 	Benjamin S. Steger, CFA(illegible)
	Title:	 	Authorized Signatory
	
	NAME OF INSTITUTION:
	
	Canpartners Investments IV, LLC
		
	By:	 	 /s/ Mitchell R. Julis

	Name:	 	Mitchell R. Julis
	Title:	 	Managing Partner
	
	 By: Canpartners Investments IV, LLC, a California
 limited liability company

	
	NAME OF INSTITUTION:
	
	WatchTower CLO I PLC
	By: Citadel Limited Partnership, Collateral Manager
	By: Citadel Investment Group, L.L.C., its General Partner
		
	By:	 	 /s/ ERICA L. TARPEY

	Name:	 	ERICA L. TARPEY
	Title:	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	ColumbusNova CLO Ltd. 2007-1
		
	By:	 	 /s/ Tom Bohrer

	Name:	 	Tom Bohrer
	Title:	 	Senior Director
	
	NAME OF INSTITUTION:
	
	CSAM Funding II
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Atrium CDO
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Atrium II
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Atrium III
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Madison Park Funding VI, Ltd.
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Madison Park Funding IV, Ltd.
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Madison Park Funding V, Ltd.
		
	By:	 	 /s/ LINDA R. KARN

	Name:	 	LINDA R. KARN
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Duane Street CLO II, Ltd.
	 By: Di Maio Ahmad Capital LLC,
 As Collateral
Manager

		
	By:	 	 /s/ Paul Travers

	Name:	 	Paul Travers
	Title:	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Duane Street CLO I, Ltd.
	 By: Di Maio Ahmad Capital LLC,
 as Collateral
Manager

		
	By:	 	 /s/ Paul Travers

	Name:	 	Paul Travers
	Title:	 	Authorized Signatory
	
	NAME OF INSTITUTION:
	
	Duane Street CLO III, Ltd.
	 By: Di Maio Ahmad Capital LLC,
 As Collateral
Manager

		
	By:	 	 /s/ Paul Travers

	Name:	 	Paul Travers
	Title:	 	Authorized Signatory
	
	NAME OF INSTITUTION:
	
	Duane Street CLO IV, Ltd.
	 By: Di Maio Ahmad Capital LLC,
 As Collateral
Manager

		
	By:	 	 /s/ Paul Travers

	Name:	 	Paul Travers
	Title:	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Jay Street Market Value, CLO I Ltd.
	 By: Di Maio Ahmad Capital LLC,
 As
Manager

		
	By:	 	 /s/ Paul Travers

	Name:	 	Paul Travers
	Title:	 	Authorized Signatory
	
	NAME OF INSTITUTION:
	
	Jefferson Pilot Financial Insurance Co.
		
	By:	 	 /s/ Thomas H. Chow

	Name:	 	Thomas H. Chow
	Title:	 	 Senior Vice President
 Portfolio
Manager

	
	NAME OF INSTITUTION:
	
	Longevit, Funding CLO I, Ltd
		
	By:	 	 /s/ Thomas H. Chow

	Name:	 	Thomas H. Chow
	Title:	 	 Senior Vice President
 Portfolio
Manager

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Deutsche Bank AG London (wincap)
		
	By:	 	 /s/ Karim Flitti

	Name:	 	Karim Flitti
	Title:	 	Director
	
	NAME OF INSTITUTION:
	
	Credit Genesis CLO 2005-1
		
	By:	 	 /s/ Christopher M. Mackey

	Name:	 	Christopher M. Mackey
	Title:	 	Managing Principal
	
	NAME OF INSTITUTION:
	
	Feingold O’Keeffe Credit Fund CBNA Loan Funding LLC
		
	By:	 	 /s/ Jason Muelver

	Name:	 	Jason Muelver
	Title:	 	Attorney-in-fact

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Fenway Capital, LLC
		
	By:	 	 /s/ Vidrik Frankfather

	Name:	 	Vidrik Frankfather
	Title:	 	Vice President
	
	NAME OF INSTITUTION:
	
	Ballyrock CLO II Limited
	 BALLYROCK Investment Advisors LLC, as Collateral
 Manager

		
	By:	 	 /s/ Lisa Rymut

	Name:	 	Lisa Rymut
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	Ballyrock CLO III Limited
	 BALLYROCK Investment Advisors LLC, as Collateral
 Manager

		
	By:	 	 /s/ Lisa Rymut

	Name:	 	Lisa Rymut
	Title:	 	Assistant Treasurer

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Fidelity Puritan Trust: Fidelity Puritan Fund
		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	 Fidelity Advisor Series II: Fidelity Advisor High Income
 Advantage

		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	Fidelity Summer Street Trust: Fidelity Capital & Income Fund
		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Fidelity Advisor Series II: Fidelity Advisor Floating Rate High
 Income Fund

		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	 Fidelity Central Investment Portfolios LLC: Fidelity Floating Rate
 Central Investment Portfolio

		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	Fidelity Advisor Series II: Fidelity Advisor Strategic Income Fund
		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Fidelity School Street Trust: Fidelity Strategic Income
 Fund

		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	 Variable Insurance Products Fund IV: Strategic Income
 Portfolio

		
	By:	 	 /s/ Peter L. Lydecker

	Name:	 	Peter L. Lydecker
	Title:	 	Assistant Treasurer
	
	NAME OF INSTITUTION:
	
	Illinois Municipal Retirement Fund
	 Pyramis Global Advisors Trust Company, as Investment
 Manager Under Power of Attorney

		
	By:	 	 /s/ Geoff W. Johnson

	Name:	 	Geoff W. Johnson
	Title:	 	Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Pension Investment Committee of General Motors for
 General Motors Employees Domestic Group Pension Trust

	
	 Pyramis Global Advisors Trust Company, as Investment
 Manager Under Power of Attorney

		
	By:	 	 /s/ Geoff W. Johnson

	Name:	 	Geoff W. Johnson
	Title:	 	Vice President
	
	NAME OF INSTITUTION:
	
	 Commonwealth of Massachusetts Pension Reserves
 Investment Management Board

	 Pyramis Global Advisors Trust Company, as Investment
 Manager Under Power of Attorney

		
	By:	 	 /s/ Geoff W. Johnson

	Name:	 	Geoff W. Johnson
	Title:	 	Vice President
	
	FOUR CORNERS CLO 2005-1, LTD., as Lender
	By:	 	 Four Corners Capital Management, LLC,
 As Collateral
Manager

		
	By:	 	 /s/ KEVIN AKIOKA

	Name:	 	KEVIN AKIOKA
	Title:	 	Senior Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Four Corners CLO II, LTD.
		
	By:	 	 /s/ Sean Bresnahan

	Name:	 	Sean Bresnahan
	Title:	 	Attorney In Fact
	
	NAME OF INSTITUTION
	
	FOUR CORNERS CLO III, LTD
		
	By:	 	 /s/ MELISSA SADLER

	Name:	 	MELISSA SADLER
	Title:	 	AVP
	
	Fraser Sullivan CLO I, Ltd.
	By: Fraser Sullivan Investment Management, LLC, as Collateral Manager
		
	 By:
	 	 /s/ John W. Fraser

	 Name:
	 	John W. Fraser
	 Title:
	 	Managing Partner

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	Fraser Sullivan CLO II, Ltd.
	By: Fraser Sullivan Investment Management, LLC, as Collateral Manager
		
	 By:
	 	 /s/ John W. Fraser

	 Name:
	 	John W. Fraser
	 Title:
	 	Managing Partner
	
	Fraser Sullivan CLO III, Ltd.
	 By: Fraser Sullivan Investment Management, LLC,
 as Ramp Up Investment Manager

		
	 By:
	 	 /s/ John W. Fraser

	 Name:
	 	John W. Fraser
	 Title:
	 	Managing Partner
	
	FRASER SULLIVAN CREDIT STRATEGIES FUNDING LTD.
	 By: Fraser Sullivan Investment Management, LLC,
 as Ramp Up Investment Manager

		
	 By:
	 	 /s/ John W. Fraser

	 Name:
	 	John W. Fraser
	 Title:
	 	Managing Partner

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Genesis CBNA Loan Funding LLC
		
	 By:
	 	 /s/ Molly Walter

	 Name:
	 	Molly Walter
	 Title:
	 	Attorney-In-Fact
	
	 NAME OF INSTITUTION:

	
	 GOLDMAN SACHS ASSET MANAGEMENT CLO,
 PUBLIC LIMITED COMPANY

	 By: Goldman Sachs Asset Manager, L.P.,
 as Manager

		
	 By:
	 	 /s/ Sandra L. Stulberger

	 Name:
	 	Sandra L. Stulberger
	 Title:
	 	Authorized Signatory
	
	 NAME OF INSTITUTION:

	
	 Relaeasi Capital Limited

	 By: Goldman Sachs Asset Management, L.P.,
 as its Investment Advisor

		
	 By:
	 	 /s/ Sandra L. Stulberger

	 Name:
	 	Sandra L. Stulberger
	 Title:
	 	Authorized Signatory

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 Grand Central Asset Trust, Gaia Series

		
	 By:
	 	 /s/ Janet Haack

	 Name:
	 	Janet Haack
	 Title:
	 	As Attorney In Fact
	
	NAME OF INSTITUTION:
	
	 Grand Central Asset Trust, GSAM Series

		
	 By:
	 	 /s/ Molly Walter

	 Name:
	 	Molly Walter
	 Title:
	 	Attorney-In-Fact
	
	HUDSON STRAITS CLO 2004, LTD.
	 By: GSO Capital Partners LP as Collateral Manager

		
	 By:
	 	 /s/ Sanjal Bhonsle

	 Name:
	 	Sanjal Bhonsle
	 Title:
	 	Authorized Signatory

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 FOXE BASIN CLO 2003, LTD.

	 By: GSO Capital Partners LP as Collateral Manager

		
	 By:
	 	 /s/ Sanjal Bhonsle

	 Name:
	 	Sanjal Bhonsle
	 Title:
	 	Authorized Signatory
	
	 NAME OF INSTITUTION:

	
	 Abingdon Finance Limited

	 By: GSO Capital Partners LP as Investment Manager

		
	 By:
	 	 /s/ Sanjal Bhonsle

	 Name:
	 	Sanjal Bhonsle
	 Title:
	 	Authorized Signatory
	
	 NAME OF INSTITUTION:

	
	 GSO DOMESTIC CAPITAL FUNDING, LLC

	 By: GSO Capital Partners LP as Collateral Manager

		
	 By:
	 	 /s/ CHRISTOPHER SULLIVAN

	 Name:
	 	CHRISTOPHER SULLIVAN
	 Title:
	 	AUTHORIZED SIGNATORY

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 280 FUNDING I

		
	 By:
	 	 /s/ CHRISTOPHER SULLIVAN

	 Name:
	 	CHRISTOPHER SULLIVAN
	 Title:
	 	AUTHORIZED SIGNATORY
	
	 NAME OF INSTITUTION:

	
	 GULF STREAM-COMPASS CLO 2005-I LTD

	 By: Gulf Stream Asset Management LLC
 As Collateral Manager

	
	 GULF STREAM-SEXTANT CLO 2006-I LTD

	 By: Gulf Stream Asset Management LLC
 As
Collateral Manager

	
	GULF STREAM-RASHINBAN CLO 2006-I LTD
	 By: Gulf Stream Asset Management LLC
 As Collateral Manager

		
	 By:
	 	 /s/ Barry K. Love

	 Name:
	 	Barry K. Love
	 Title:
	 	Chief Credit Officer
	
	 NAME OF INSTITUTION:

	
	 Halcyon Loan Investors CLO II, LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 Genesis CBNA Loan Funding LLC

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 NAME OF INSTITUTION:

	
	 Halcyon Loan Investors CLO I Hybrid LCDS, LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 NAME OF INSTITUTION:

	
	 Rowayton Loan Funding Company

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 Halcyon Loan Investors CLO III, LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 NAME OF INSTITUTION:

	
	 Halcyon Loan Investors CLO I, LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 NAME OF INSTITUTION:

	
	 Halcyon Structured Asset Management Long Secured/Short
 Unsecured CLO II LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 Halcyon Structured Asset Management Long Secured/Short
 Unsecured CLO 2006-1 LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 NAME OF INSTITUTION:

	
	 Halcyon Structured Asset Management CLO I LTD.

		
	 By:
	 	 /s/ James W. Sykes

	 Name:
	 	James W. Sykes
	 Title:
	 	Managing Principal
	
	 Atlas Loan Funding (Hartford), LLC

	 By: Atlas Capital Funding, Ltd.

	 By: Structured Asset Investors, LLC
 Its Investment Manager

		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
		 	Vice President

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 Beecher CBNA Loan Funding LLC

		
	 By:
	 	 /s/ Jason Muelver

	 Name:
	 	Jason Muelver
	 Title:
	 	Attorney-in-fact
	
	 The Hartford Mutual Funds, Inc., on behalf of The
 Hartford Floating Rate Fund

	
	 By Hartford Investment Management Company, its
 Sub-advisor

		
	 By:
	 	 /s/ Michael A Pineau

	 Name:
	 	Michael A Pineau
	 Title:
	 	Vice President
	
	 Hartford Institutional Trust, on behalf of its Floating
 Rate Bank Loan Series, as Assignee

	
	 By: Hartford Investment Management Company, its
 Investment Manager

		
	By:	 	 /s/ Michael A Pineau

	Name:	 	Michael A Pineau
	Title:	 	Vice President

					
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	Highbridge Fixed Income Opportunity Master Fund, L.P
	 By: Highbridge Capital Management, LLC,
 as trading manager and not in its individual capacity

		
	By:	 	 /s/ Mark A. Palmer

	Name:	 	Mark A. Palmer
	Title:	 	SPM/MD
	
	 Highbridge Fixed Income Opportunity Institutional Fund, Ltd

	 By: Highbridge Capital Management, LLC,
 as trading manager and not in its individual capacity

		
	By:	 	 /s/ Mark A. Palmer

	Name:	 	Mark A. Palmer
	Title:	 	SPM/MD
	
	Highbridge International, LLC
	 By: Highbridge Capital Management, LLC,
 as trading manager and not in its individual capacity

		
	By:	 	 /s/ Mark A. Palmer

	Name:	 	Mark A. Palmer
	Title:	 	SPM/MD

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Emerald Orchard Limited
		
	By:	 	 /s/ NEAM AHMED

	Name:	 	NEAM AHMED
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Highland Credit Strategies Fund
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer
	
	NAME OF INSTITUTION:
	
	Highland Distressed Opportunities, Inc.
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer

  

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Highland Floating Rate Advantage Fund
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer
	
	NAME OF INSTITUTION:
	
	Pioneer Floating Rate Trust
		
	By:	 	 /s/ M. Jason Blackburn

	Name:	 	M. Jason Blackburn
	Title:	 	Treasurer
	
	NAME OF INSTITUTION:
	
	Employers Insurance Company of Wausau
		
	By:	 	Highland Capital Management, L.P., Its Investment Advisor
		
	By:	 	Strand Advisors, Inc., Its General Partner
		
	By:	 	 /s/ Brian Lohrding

		
	Name:	 	Brian Lohrding, Treasurer
		
	Title:	 	 Strand Advisors, Inc.,
 General Partner of
 Highland Capital Management, L.P.

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Red River CLO Ltd.
		
	By:	 	Highland Capital Management, L.P.
		 	As Collateral Manager
		
	By:	 	Strand Advisors, Inc., Its General Partner
		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding, Treasurer
	Title:	 	 Strand Advisors, Inc.,
 General Partner of

Highland Capital Management, L.P.

	
	NAME OF INSTITUTION:
	
	Grayson CLO, Ltd.
		
	By:	 	Highland Capital Management, L.P.
		 	As Collateral Manager
		
	By:	 	 Strand Advisors, Inc.
 Its General
Partner

		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding, Treasurer
	Title:	 	 Strand Advisors, Inc.,
 General Partner of
 Highland Capital Management, L.P.

	
	NAME OF INSTITUTION:
	
	HCSMF SCOTIA SWAP
		
	By:	 	 /s/ NEAM AHMED

	Name:	 	NEAM AHMED
	Title:	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Rockwall CDO Ltd.
		
	By	 	 Highland Capital Management, L.P.
 As Collateral
Manager

		
	By:	 	 Strand Advisors, Inc.
 Its General
Partner

		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding, Treasurer
	Title:	 	 Strand Advisors, Inc.,
 General Partner of
 Highland Capital Management, L.P.

	
	NAME OF INSTITUTION:
	
	Highland Credit Opportunities CDO Ltd.
		
	By:	 	 Highland Capital Management, L.P.
 As Collateral
Manager

		
	By:	 	 Strand Advisors, Inc.
 Its General
Partner

		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding, Treasurer
	Title:	 	 Strand Advisors, Inc.,
 General Partner of

Highland Capital Management, L.P.

	
	 NAME OF INSTITUTION:

	
	Highland Offshore Partners, L.P.
	By: Highland Capital Management, L.P., As Collateral Manager
	By: Strand Advisors, Inc., Its General Partner
		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding,
	Title:	 	 Treasurer
 Strand Advisors, Inc.
 General Partner of
 Highland Capital Management, L.P.

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Liberty Mutual Insurance Company
	By: Highland Capital Management, L.P., Its Investment Advisor
	By: Strand Advisors, Inc., Its General Partner
		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding,
	Title:	 	 Treasurer
 Strand Advisors, Inc.
 General Partner of
 Highland Capital Management, L.P.

	
	NAME OF INSTITUTION:
	
	Liberty Mutual Insurance Company
	By: Highland Capital Management, L.P., Its Investment Advisor
	By: Strand Advisors, Inc., Its General Partner
		
	By:	 	 /s/ Brian Lohrding

	Name:	 	Brian Lohrding,
	Title:	 	 Treasurer
 Strand Advisors, Inc.
 General Partner of
 Highland Capital Management, L.P.

	
	NAME OF INSTITUTION:
	Chatham CLO I
		
	By:	 	 /s/ Dana E Erikson

	Name:	 	Dana E Erikson
	Title:	 	Managing Director

									
		 		 	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
			
		 		 	NAME OF INSTITUTION:
			
	ING PRIME RATE TRUST	 		 	ING Investment Management CLO II, LTD.
	 By: ING Investment Management Co.
       as its investment manager
	 		 	 By: ING Alternative Asset Management LLC,
       as its investment manager

					
	By:	 	 /s/ Robert Wilson
	 		 	By:	 	 /s/ Robert Wilson

	Name:	 	Robert Wilson	 		 	Name:	 	Robert Wilson
	Title:	 	Senior Vice President	 		 	Title:	 	Senior Vice President
			
	ING SENIOR INCOME FUND	 		 	ING Investment Management CLO III, LTD.
	 By: ING Investment Management Co.
       as its investment manager
	 		 	 By: ING Alternative Asset Management LLC,
       as its investment manager

					
	By:	 	 /s/ Robert Wilson
	 		 	By:	 	 /s/ Robert Wilson

	Name:	 	Robert Wilson	 		 	Name:	 	Robert Wilson
	Title:	 	Senior Vice President	 		 	Title:	 	Senior Vice President
			
	ING International (II) – Senior Bank Loans Euro	 		 	ING INVESTMENT MANAGEMENT CLO IV, LTD.
	 By: ING Investment Management Co.
       as its investment manager
	 		 	 By: ING Alternative Asset Management LLC,
       as its investment advisor

					
	By:	 	 /s/ Robert Wilson
	 		 	By:	 	 /s/ Robert Wilson

	Name:	 	Robert Wilson	 		 	Name:	 	Robert Wilson
	Title:	 	Senior Vice President	 		 	Title:	 	Senior Vice President
			
	ING International (II) – Senior Bank Loans USD	 		 	ING INVESTMENT MANAGEMENT CLO V, LTD.
	 By: ING Investment Management Co.
       as its investment manager
	 		 	 By: ING Alternative Asset Management LLC,
       as its investment advisor

					
	By:	 	 /s/ Robert Wilson
	 		 	By:	 	 /s/ Robert Wilson

	Name:	 	Robert Wilson	 		 	Name:	 	Robert Wilson
	Title:	 	Senior Vice President	 		 	Title:	 	Senior Vice President
				
	ING Investment Management CLO I, LTD.	 		 		 	
	 By: ING Investment Management Co.
       as its investment manager
	 		 		 	
					
	By:	 	 /s/ Robert Wilson
	 		 		 	
	Name:	 	Robert Wilson	 		 		 	
	Title:	 	Senior Vice President	 		 		 	

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	ALZETTE EUROPEAN CLO S.A.
	 By: INVESCO Senior Secured Management, Inc.
       As Collateral Manager

		
	By:	 	 /s/ Scott Baskind

	Name:	 	Scott Baskind
	Title:	 	Authorized Signatory
	
	 Atlas Loan Funding (Navigator), LLC

	 By: Atlas Capital Funding, Ltd.

	 By: Structured Asset Investors, LLC

	Its Investment Manager
		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
	 Title:
	 	Vice President
	
	AVALON CAPITAL LTD. 3
	By:	 	 INVESCO Senior Secured Management, Inc.
 As Asset
Manager

		
	By:	 	 /s/ Scott Baskind

	Name:	 	Scott Baskind
	Title:	 	Authorized Signatory

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	BELHURST CLO LTD.
	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	CHAMPLAIN CLO, LTD.
	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 CHARTER VIEW PORTFOLIO

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Investment
Advisor

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	DIVERSIFIED CREDIT PORTFOLIO LTD.
	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Investment
Adviser

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 AIM FLOATING RATE FUND

	By:	 	 INVESCO Senior Secured Management, Inc.
 As Sub-Adviser

		
	By:	 	 /s/ Scott Baskind

	Name:	 	Scott Baskind
	Title:	 	Authorized Signatory
	
	 KATONAH V, LTD.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Investment
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 LOAN FUNDING IX LLC, for itself or as agent for Corporate Loan
 Funding IX LLC

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Portfolio
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 LIMEROCK CLO I

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 MOSELLE CLO S.A.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAUTIQUE FUNDING II LTD.

	 By:  INVESCO Senior Secured Management, Inc.
 As Collateral Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 NAUTIQUE FUNDING LTD.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 PETRUSSE EUROPEAN CLO S.A.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 SAGAMORE CLO LTD.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral
Manager

		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 SARATOGA CLO I, LIMITED

	 By:
	 	INVESCO Senior Secured Management, Inc.
		 	As the Asset Manager
		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory
	
	 WASATCH CLO LTD

	 By:
	 	INVESCO Senior Secured Management, Inc.
		 	As Portfolio Manager
		
	 By:
	 	 /s/ Scott Baskind

	 Name:
	 	Scott Baskind
	 Title:
	 	Authorized Signatory

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	 ST. JAMES RIVER CLO LTD.

		
	 By:
	 	 /s/ Mark D. Senkpiel

	 Name:
	 	Mark D. Senkpiel
	 Title:
	 	Managing Director
	
	 NAME OF INSTITUTION:

	
	 DIAMOND LAKE CLO LTD.

		
	 By:
	 	 /s/ Mark D. Senkpiel

	 Name:
	 	Mark D. Senkpiel
	 Title:
	 	Managing Director
	
	 NAME OF INSTITUTION:

	
	 CLEAR LAKE CLO LTD.

		
	 By:
	 	 /s/ Mark D. Senkpiel

	 Name:
	 	Mark D. Senkpiel
	 Title:
	 	Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	 JPMorgan High Yield Bond Fund

		
	 By:
	 	 /s/ James Gibson

	 Name:
	 	James Gibson
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	 KATONAH X CLO LTD.

		
	 By:
	 	 /s/ DANIEL GILLIGAN

	 Name:
	 	DANIEL GILLIGAN
	 Title:
	 	 Authorized Officer
 Katonah Debt Advisors,
L.L.C.
 As Manager

	
	 LightPoint CLO VII, Ltd.

		
	 By:
	 	 /s/ COLIN DONLAN

	 Name:
	 	COLIN DONLAN
	 Title:
	 	DIRECTOR

							
		 		 	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

			
		 		 	 NAME OF INSTITUTION:

			
		 		 	 Confluent 4 Limited

				
		 		 	 By:
	 	Please See Following Page
		 		 	 Name:
	 	
		 		 	 Title:
	 	
			
	 LENDER:
	 		 	 CONFLUENT 4 LIMITED,
 As
Lender

				
		 		 	By:	 	 Loomis, Sayles & Company, L.P.,
 As
Sub-Manager

		 		 	By:	 	 Loomis, Sayles & Company, Incorporated,
 Its
General Partner

				
		 		 	By:	 	 /s/ Kevin J. Perry

		 		 	By:	 	Kevin J. Perry
		 		 	Title:	 	Vice President
			
		 		 	 NAME OF INSTITUTION:

			
		 		 	 Loomis Sayles CLO I, Ltd.

				
		 		 	 By:
	 	Please See Following Page
		 		 	 Name:
	 	
		 		 	 Title:
	 	

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	LOOMIS SAYLES CLO I, LTD.
	By Loomis, Sayles and Company, L.P.
	            its collateral manager
	By Loomis, Sayles and Company, Inc.
	            its general partner
		
	 By:
	 	 /s/ Kevin P. Charleston

	 Name:
	 	Kevin P. Charleston
	 Title:
	 	Executive Vice President
	
	 NAME OF INSTITUTION:

	
	 Golden Knight II CLO, Ltd.

		
	 By:
	 	 /s/ [Illegible]

	 Name:
	 	[Illegible]
	 Title:
	 	PORTFOLIO MANAGER
		 	LORD ABBETT & CO. LLC
		 	AS COLLATERAL MANAGER
	
	 NAME OF INSTITUTION:

	
	 LATITUDE CLO II, LTD

		
	 By:
	 	 /s/ Kirk Wallace

	 Name:
	 	Kirk Wallace
	 Title:
	 	Senior Vice President

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	 NAME OF INSTITUTION:

	
	 LATITUDE CLO III, LTD

		
	 By:
	 	 /s/ Kirk Wallace

	 Name:
	 	Kirk Wallace
	 Title:
	 	Senior Vice President
	
	 NAME OF INSTITUTION:

	
	 Marathon CLO II Ltd.

	 By: Marathon Asset Management LLC

	Its Collateral Manager
		
	 By:
	 	 /s/ LOUIS T. HANOVER

	 Name:
	 	LOUIS T. HANOVER
	 Title:
	 	AUTHORIZED SIGNATORY
	
	 WIND RIVER CLO I LTD.

	 By:
	 	McDonnell Investment Management, LLC, as Manager
		
	 By:
	 	 /s/ Kathleen A. Zam

	 Name:
	 	Kathleen A. Zam
	 Title:
	 	Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 WIND RIVER CLO II - TATE INVESTORS, LTD.

	 By:
	 	McDonnell Investment Management, LLC, as Manager
		
	 By:
	 	 /s/ Kathleen A. Zam

	 Name:
	 	Kathleen A. Zam
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	 Merrill Lynch Credit Products

		
	 By:
	 	 /s/ Brian [Illegible]

	 Name:
	 	Brian [Illegible]
	 Title:
	 	Vice President
	
	 MSIM Peconic Bay, Ltd.

	 By:  Morgan Stanley Investment Management Inc. as
 Interim Collateral Manager

		
	 By:
	 	 /s/ JOHN HAYES

	 Name:
	 	JOHN HAYES
	 Title:
	 	EXECUTIVE DIRECTOR

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 ZODIAC FUND - Morgan Stanley

	 US Senior Loan Fund.

	 By:
	 	Morgan Stanley Investment Management Inc.
	as Investment Adviser
		
	 By:
	 	 /s/ JOHN HAYES

	 Name:
	 	JOHN HAYES
	 Title:
	 	EXECUTIVE DIRECTOR
	
	 Confluent 3 Limited

	 By: Morgan Stanley Investment Management Inc.
 as Investment Manager

		
	 By:
	 	 /s/ JOHN HAYES

	 Name:
	 	JOHN HAYES
	 Title:
	 	EXECUTIVE DIRECTOR
	
	 QUALCOMM Global Trading, Inc.

	 By:  Morgan Stanley Investment Management Inc.
 as Investment Manager

		
	 By:
	 	 /s/ JOHN HAYES

	 Name:
	 	JOHN HAYES
	 Title:
	 	EXECUTIVE DIRECTOR

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	Morgan Stanley Investment
	Management Croton, Ltd.
	 By: Morgan Stanley Investment Management Inc.
 as Collateral Manager

		
	By:	 	 /s/ JOHN HAYES

	Name:	 	JOHN HAYES
	Title:	 	EXECUTIVE DIRECTOR
	
	MORGAN STANLEY PRIME INCOME TRUST
		
	By:	 	 /s/ JOHN HAYES

	Name:	 	JOHN HAYES
	Title:	 	EXECUTIVE DIRECTOR
	
	NAME OF INSTITUTION:
	
	Primus CLO I, Ltd.
		
	By:	 	 /s/ Michael R. Feeney

	Name:	 	Michael R. Feeney
	Title:	 	Sr. Analyst

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Primus CLO 2, Ltd.
		
	By:	 	 /s/ Michael R. Feeney

	Name:	 	Michael R. Feeney
	Title:	 	Sr. Analyst
	
	NAME OF INSTITUTION:
	
	ROSEDALE CLO LTD.
	 By: Princeton Advisory Group, Inc.
 the
Collateral Manager

		
	By:	 	 /s/ Troy Isaksen

	Name:	 	Troy Isaksen
	Title:	 	Credit Analyst
	
	NAME OF INSTITUTION:
	
	Dryden XI – Leveraged Loan CDO 2006
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as Collateral Manager

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Dryden IX – Senior Loan Fund 2005 p.l.c
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as attorney-in-fact
	
	NAME OF INSTITUTION:
	
	Dryden VIII – Leveraged Loan CDO 2005
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as Collateral Manager
	
	NAME OF INSTITUTION:
	
	Dryden V – Leveraged Loan CDO 2003
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as Collateral Manager

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	Dryden XVI – Leveraged Loan CDO 2006
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as Collateral Manager
	
	 NAME OF INSTITUTION:

	
	Dryden High Yield CDO 2001-1
		
	By:	 	 /s/ [Illegible]

	Name:	 	
	Title:	 	Prudential Investment Management, Inc., as Collateral Manager
	
	NAME OF INSTITUTION:
	
	PIM Warehouse
		
	 By:
	 	 /s/ Steven Sapersteir

	 Name:
	 	Steven Sapersteir
	 Title:
	 	PIM Warehouse, Inc

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	PTRS CBNA Loan Funding LLC
		
	 By:
	 	 /s/ Jason Muelver

	 Name:
	 	Jason Muelver
	 Title:
	 	Attorney-in-fact
	
	NAME OF INSTITUTION:
	
	Grand Central Asset Trust, R6 Series
		
	 By:
	 	 /s/ Jason Muelver

	 Name:
	 	Jason Muelver
	 Title:
	 	Attorney-in-fact
	
	NAME OF INSTITUTION:
	
	Cooperatieve Centrale Raiffeisen Boerenleenbank B.A.
		
	 By:
	 	 [Illegible]

	 Name:
	 	
	 Title:
	 	
	
	NAME OF INSTITUTION:
	
	Atlas Loan Funding (CENT I) LLC
	 By: RiverSource Investments, LLC

	Attorney in Fact
		
	 By:
	 	 /s/ Robin C. Stancil

	 Name:
	 	Robin C. Stancil
	 Title:
	 	Director of Operations

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Centurion CDO VI, Ltd.

	 By: RiverSource Investments, LLC

	as Collateral Manager
		
	 By:
	 	 /s/ Robin C. Stancil

	 Name:
	 	Robin C. Stancil
	 Title:
	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Centurion CDO VII, Ltd.
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Centurion CDO 8, Limited
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Centurion CDO 9, Ltd.
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Cent CDO 10, Ltd.
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Cent CDO XI, Limited
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Cent CDO 12 Limited
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Cent CDO 14 Limited
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	Cent CDO 15 Limited
	 By: RiverSource Investments, LLC
 as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	 Title:
	 	Director of Operations

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	RiverSource Bond Series, Inc. -
	RiverSource Floating Rate Fund
		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Assistant Vice President
	
	NAME OF INSTITUTION:
	
	Sequils-Centurion V, Ltd.
	 By: RiverSource Investments,
 LLC as
Collateral Manager

		
	By:	 	 /s/ Robin C. Stancil

	Name:	 	Robin C. Stancil
	Title:	 	Director of Operations
	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for AVERY POINT CLO,
 LTD., as Term Lender

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for Castle Hill I -
 INGOTS. Ltd., as Term Lender

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for Loan Funding XI LLC,
 As Term Lender

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Chatham Light II CLO, Limited, by
 Sankaty Advisors LLC, as Collateral
 Manager

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Chatham Light III CLO, Ltd
	 By: Sankaty Advisors, LLC
 as Collateral
Manager

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Katonah III, Ltd. by Sankaty
 Advisors LLC as Sub-Advisors

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Katonah IV, Ltd. by Sankaty
 Advisors LLC as Sub-Advisors

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for Nash Point CLO,
 Limited, as Collateral Manager

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for Race Point II CLO,
 Limited, as Term Lender

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	NAME OF INSTITUTION:
	
	 Sankaty Advisors, LLC as Collateral
 Manager for Race Point III CLO,
 Limited, as Term Lender

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Race Point IV CLO, Ltd
	 By: Sankaty Advisors, LLC
 as Collateral
Manager

		
	By:	 	 /s/ Alan K. Halfenger

	Name:	 	Alan K. Halfenger
	Title:	 	 Chief Compliance Officer
 Assistant
Secretary

	
	 SKY CBNA Loan Funding

		
	 By:
	 	 /s/ [Illegible]

	 Name:
	 	[Illegible]
	 Title:
	 	[Illegible]
	
	 NAME OF INSTITUTION:

	
	 Sankaty High Yield Partners II, L.P.

		
	 By:
	 	 /s/ Alan K. Halfenger

	 Name:
	 	Alan K. Halfenger
	 Title:
	 	 Chief Compliance Officer
 Assistant
Secretary

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	 Sankaty High Yield Partners III, L.P.

		
	 By:
	 	 /s/ Alan K. Halfenger

	 Name:
	 	Alan K. Halfenger
	 Title:
	 	 Chief Compliance Officer
 Assistant
Secretary

	
	 SKY CBNA Loan Funding

		
	 By:
	 	 /s/ [Illegible]

	 Name:
	 	[Illegible]
	 Title:
	 	[Illegible]
	
	 NAME OF INSTITUTION:

	
	 Harbour Town Funding LLC

		
	 By:
	 	 /s/ Tara E. Kenny

	 Name:
	 	Tara E. Kenny
	 Title:
	 	Assistant Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	 Mountain View Funding CLO 2006-I, Ltd.

	 By: Seix Advisors, a fixed income division of Trusco Capital
 Management, Inc., as Collateral Manager

		
	 By:
	 	 /s/ George Goudelias

	 Name:
	 	George Goudelias
	 Title:
	 	PM, Seix Advisors
	
	NAME OF INSTITUTION:
	
	Mountain View CLO II, Ltd.
	By:	 	Seix Advisors, a fixed income division of Trusco Capital
	Management, Inc., as Collateral Manager
		
	By:	 	 /s/ George Goudelias

	Name:	 	George Goudelias
	Title:	 	PM, Seix Advisors
	
	NAME OF INSTITUTION:
	
	Mountain View CLO III, Ltd.
	By:	 	Seix Advisors, a fixed income division of Trusco Capital
	Management, Inc., as Collateral Manager
		
	By:	 	 /s/ George Goudelias

	Name:	 	George Goudelias
	Title:	 	PM, Seix Advisors

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Mountain View CLO IV, Ltd.
	By:	 	Seix Advisors, a fixed income division of Trusco Capital
	Management, Inc., as Ramp-Up Investment Manager
		
	By:	 	 /s/ George Goudelias

	Name:	 	George Goudelias
	Title:	 	PM, Seix Advisors
	
	NAME OF INSTITUTION:
	
	STI Classic Seix Floating Rate High Income Fund
	By:	 	Seix Advisors, a fixed income division of Trusco Capital
	Management, Inc.
		
	By:	 	 /s/ George Goudelias

	Name:	 	George Goudelias
	Title:	 	PM, Seix Advisors
	
	NAME OF INSTITUTION:
	
	Nob Hill CLO, Limited
		
	By:	 	 /s/ Bradley Kane

	Name:	 	Bradley Kane
	Title:	 	PM

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Nob Hill CLO II, Limited
		
	By:	 	 /s/ Bradley Kane

	Name:	 	Bradley Kane
	Title:	 	PM
	
	NAME OF INSTITUTION:
	
	Orinda Serves I Ltd.
		
	By:	 	 /s/ Bradley Kane

	Name:	 	Bradley Kane
	Title:	 	PM
	
	CUNA Mutual Insurance Society
	By:	 	Shenkman Capital Management, Inc.
	As Investment Advisor
		
	By:	 	 /s/ Richard H. Weinstein

	Name:	 	Richard H. Weinstein
	Title:	 	Executive Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	CUNA Mutual Life Insurance Company
	By:	 	Shenkman Capital Management, Inc.,
	As Investment Advisor
		
	By:	 	 /s/ Richard H. Weinstein

	Name:	 	Richard H. Weinstein
	Title:	 	Executive Vice President
	
	Eastbrook CLO, Ltd.
	By:	 	Shenkman Capital Management, Inc.,
	As Investment Advisor
		
	By:	 	 /s/ Richard H. Weinstein

	Name:	 	Richard H. Weinstein
	Title:	 	Executive Vice President
	
	Westbrook CLO, Ltd.
	By: Shenkman Capital Management, Inc.,
	As Investment Advisor
		
	By:	 	 /s/ Richard H. Weinstein

	Name:	 	Richard H. Weinstein
	Title:	 	Executive Vice President

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	GMAM Group Pension Trust I
	By: State Street Bank and Trust Company
	As Trustee for GMAM Group Pension Trust I
		
	By:	 	 /s/ Jason R. Butler

	Name:	 	Jason R. Butler
	Title:	 	Vice President
		 	State Street Bank & Trust Co.
	
	NAME OF INSTITUTION:
	
	Stanfield Daytona CLO, Ltd.
	 By: Stanfield Capital Partners, LLC
 as its
Collateral Manager

		
	By:	 	 /s/ David Frey

	Name:	 	David Frey
	Title:	 	Managing Director
	
	NAME OF INSTITUTION:
	
	Grand Central Asset Trust, ULT Series
		
	By:	 	 /s/ Janet Haack

	Name:	 	Janet Haack
	Title:	 	As Attorney In Fact

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Stanfield Carrera CLO, Ltd.
	 By: Stanfield Capital Partners LLC
 as its
Asset Manager

		
	By:	 	 /s/ David Frey

	Name:	 	David Frey
	Title:	 	Managing Director
	
	NAME OF INSTITUTION:
	
	 Stanfield Veyron CLO, Ltd.

	 By: Stanfield Capital Partners, LLC
 as its
Collateral Manager

		
	By:	 	 /s/ David Frey

	Name:	 	David Frey
	Title:	 	Managing Director
	
	NAME OF INSTITUTION:
	
	Stanfield McLaren CLO, Ltd.
	 By: Stanfield Capital Partners, LLC
 as its
Collateral Manager

		
	By:	 	 /s/ David Frey

	Name:	 	David Frey
	Title:	 	Managing Director

			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
PARTY
 TO THE CREDIT AGREEMENT AND DEUTSCHE
BANK TRUST COMPANY AMERICAS, AS
ADMINISTRATIVE AGENT
	
	NAME OF INSTITUTION:
	
	Stanfield Modena CLO, Ltd.
	 By: Stanfield Capital Partners, LLC
 as its
Asset Manager

		
	By:	 	 /s/ David Frey

	Name:	 	David Frey
	Title:	 	Managing Director
	
	NAME OF INSTITUTION:
	
	Stone Tower CLO III Ltd.
	Stone Tower Debt Advisors LLC,
	As Its Collateral Manager
		
	By:	 	 /s/ MICHAEL W. DELPERCIO

	Name:	 	MICHAEL W. DELPERCIO
	Title:	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	Stone Tower CLO V Ltd.
	Stone Tower Debt Advisors LLC,
	As Its Collateral Manager
		
	By:	 	 /s/ MICHAEL W. DELPERCIO

	Name:	 	MICHAEL W. DELPERCIO
	Title:	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Stone Tower CLO VI Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	 Granite Ventures IV Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	 Stone Tower Credit Funding Ltd.

	 Stone Tower Fund Management LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Cornerstone CLO Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	 Rampart CLO 2007-2 Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	 Rampart CLO 2007 Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS
 PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	 Granite Ventures II Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	
	 Granite Ventures III Ltd.

	 Stone Tower Debt Advisors LLC,

	 As Its Collateral Manager

		
	 By:
	 	 /s/ MICHAEL W. DELPERCIO

	 Name:
	 	MICHAEL W. DELPERCIO
	 Title:
	 	AUTHORIZED SIGNATORY
	
	NAME OF INSTITUTION:
	Stone Tower CLO IV Ltd.
	 Stone Tower Debt Advisors LLC,
 As Its
Collateral Manager

		
	By:	 	 /s/ MICHAEL W. DELPERCIO

	Name:	 	MICHAEL W. DELPERCIO
	Title:	 	AUTHORIZED SIGNATORY

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	Telos CLO 2006-1, Ltd
		
	By:	 	 /s/ Jonathan Tepper

	Name:	 	Jonathan Tepper
	Title:	 	Principal
	
	NAME OF INSTITUTION:
	
	Trimaran CLO IV Ltd
	By Trimaran Advisors, L.L.C
		
	By:	 	 /s/ David M. Millison

	Name:	 	David M. Millison
	Title:	 	Managing Director
	
	NAME OF INSTITUTION:
	
	Trimaran CLO V Ltd
	By Trimaran Advisors, L.L.C
		
	By:	 	 /s/ David M. Millison

	Name:	 	David M. Millison
	Title:	 	Managing Director

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Trimaran CLO VII Ltd
	By Trimaran Advisors, L.L.C
		
	By:	 	 /s/ David M. Millison

	Name:	 	David M. Millison
	Title:	 	Managing Director
	
	TRS CALLISTO LLC
	By: Deutsche Bank AG New York Branch, its Sole Member
	By: DB Services New Jersey Inc.
		
	By:	 	 /s/ Angeline Quintana

	Name:	 	Angeline Quintana
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ Alice L. Wagner

	Name:	 	Alice L. Wagner
	Title:	 	Vice President
	
	TRS SVCO LLC:
	By: Deutsche Bank AG New York Branch, its sole Member
	By: DB Services New Jersey, Inc.
		
	By:	 	 /s/ Angeline Quintana

	Name:	 	Angeline Quintana
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ Alice L. Wagner

	Name:	 	Alice L. Wagner
	Title:	 	Vice President

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	 VAN KAMPEN
 SENIOR LOAN
FUND

	By: Van Kampen Asset Management
		
	By:	 	 /s/ Illegible

	Name:	 	
	Title:	 	
	
	 VAN KAMPEN
 SENIOR INCOME
TRUST

	By: Van Kampen Asset Management
		
	By:	 	 /s/ Illegible

	Name:	 	
	Title:	 	
	
	NAME OF INSTITUTION:
	
	Watershed Capital Partners, L.P.
	By: WS Partners, LLC., its General Partner
		
	By:	 	 /s/ Kevin Katari

	Name:	 	Kevin Katari
	Title:	 	Managing Member

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
 CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007,
 AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS
 ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	
	Watershed Capital Institutional Partners, L.P.
	By: WS Partners, L.L.C., its General Partner
		
	By:	 	 /s/ Kevin Katari

	Name:	 	Kevin Katari
	Title:	 	Managing Member
	
	 WB Loan Funding 2, LLC

		
	 By:
	 	 /s/ Diana M. Himes

	 Name:
	 	Diana M. Himes
	 Title:
	 	Vice President
	
	 NAME OF INSTITUTION:

	
	Alaska CBNA Loan Funding LLC
		
	 By:
	 	 /s/ Janet Haack

	 Name:
	 	Janet Haack
	 Title:
	 	As Attorney In Fact

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT

	
	 NAME OF INSTITUTION:

	
	Bismarck CBNA Loan Funding LLC
		
	 By:
	 	 /s/ Janet Haack

	 Name:
	 	Janet Haack
	 Title:
	 	As Attorney In Fact
	
	 NAME OF INSTITUTION:

	
	Silverado CLO 2006-II Limited
	 By:
	 	 Wells Capital Management
 as Portfolio
Manager

		
	 By:
	 	 /s/ Zachary Tyler

	 Name:
	 	Zachary Tyler
	 Title:
	 	Authorized Signatory
	
	NAME OF INSTITUTION:
	WhiteHorse II, Ltd
	 By WhiteHorse Capital Partners, L.P.

	As Collateral Manager
		
	 By:
	 	 /s/ Jay Carvell

	 Name:
	 	Jay Carvell
	 Title:
	 	PM

			
	 SIGNATURE PAGE TO THE FIRST AMENDMENT TO
CREDIT AGREEMENT, DATED AS OF JUNE 27, 2007, AMONG PAETEC HOLDING CORP., VARIOUS LENDERS PARTY TO THE CREDIT AGREEMENT AND DEUTSCHE
 BANK TRUST COMPANY AMERICAS, AS ADMINISTRATIVE AGENT

	
	NAME OF INSTITUTION:
	 WhiteHorse IV, Ltd

	 By WhiteHorse Capital Partners, L.P.

	As Collateral Manager
		
	 By:
	 	 /s/ Jay Carvell

	 Name:
	 	Jay Carvell
	 Title:
	 	PM
	
	 NAME OF INSTITUTION:

	
	Grand Central Asset Trust, ZEN Series
		
	 By
	 	 /s/ Molly Walter

	 Name:
	 	Molly Walter
	 Title:
	 	Attorney-in-Fact
	
	 NAME OF INSTITUTION:

	
	Grand Central Asset Trust, CIT Series
		
	 By:
	 	 /s/ Janet Haack

	 Name:
	 	Janet Haack
	 Title:
	 	As Attorney In Fact
	
	 NAME OF INSTITUTION:

	
	Clinton Group, Inc. as Investment Manager for and on behalf of
	Shinnecock CLO 2006-1 Ltd.
		
	 By:
	 	 /s/ Wendy Ruberti

	 Name:
	 	Wendy Ruberti
	 Title:
	 	General Counsel
	
	 NAME OF INSTITUTION:

	
	 SOUND BEACH CLO 1, LTD:

		
	 By:
	 	 /s/ Jonathan Berg

	 Name:
	 	Jonathan Berg
	 Title:
	 	Senior Credit Analyst
	
	 NAME OF INSTITUTION:

	
	 Goldman Sachs Credit Partners L.P.

		
	 By:
	 	 /s/ Salvatore T. Lentini

	 Name:
	 	Salvatore T. Lentini
	 Title:
	 	Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00126-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00126-of-00352.parquet"}]]