Document:

EX-10.7

 Exhibit 10.7 
 EXECUTION VERSION 
  
  

COLLATERAL AGREEMENT 
 dated as of November 13, 2012 
 by and among 

BROADVIEW NETWORKS HOLDINGS, INC., 
 and certain of its Subsidiaries, 
 as Grantors, 

in favor of 
 CIT
FINANCE LLC, 
 as Administrative Agent 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I        DEFINED TERMS
	  	 	2	  
	 SECTION 1.1
	 	 Terms Defined in the Uniform Commercial Code
	  	 	2	  
	 SECTION 1.2
	 	 Definitions
	  	 	2	  
	 SECTION 1.3
	 	 Other Definitional Provisions
	  	 	6	  
	 ARTICLE II      SECURITY INTEREST
	  	 	7	  
	 SECTION 2.1
	 	 Grant of Security Interest
	  	 	7	  
	 SECTION 2.2
	 	 Grantors Remain Liable
	  	 	8	  
	 SECTION 2.3
	 	 Distributions on Pledged Shares
	  	 	8	  
	 SECTION 2.4
	 	 Security Interest Absolute, etc.
	  	 	8	  
	 SECTION 2.5
	 	 Postponement of Subrogation
	  	 	9	  
	 ARTICLE III      REPRESENTATIONS AND WARRANTIES
	  	 	10	  
	 SECTION 3.1
	 	 Existence
	  	 	10	  
	 SECTION 3.2
	 	 Authorization of Agreement; No Conflict
	  	 	10	  
	 SECTION 3.3
	 	 Consents
	  	 	10	  
	 SECTION 3.4
	 	 Perfected First Priority Liens
	  	 	10	  
	 SECTION 3.5
	 	 Title, No Other Liens
	  	 	11	  
	 SECTION 3.6
	 	 State of Organization; Location of Inventory, Equipment and Fixtures; other Information
	  	 	11	  
	 SECTION 3.7
	 	 Accounts
	  	 	12	  
	 SECTION 3.8
	 	 Chattel Paper
	  	 	12	  
	 SECTION 3.9
	 	 Commercial Tort Claims
	  	 	12	  
	 SECTION 3.10
	 	 Deposit Accounts
	  	 	12	  
	 SECTION 3.11
	 	 Intellectual Property
	  	 	12	  
	 SECTION 3.12
	 	 Inventory
	  	 	12	  
	 SECTION 3.13
	 	 Investment Property; Partnership/LLC Interests
	  	 	13	  
	 SECTION 3.14
	 	 Instruments
	  	 	13	  
	 SECTION 3.15
	 	 Farm Products
	  	 	13	  
	 SECTION 3.16
	 	 Government Contracts
	  	 	13	  
	 SECTION 3.17
	 	 Letter of Credit Rights
	  	 	13	  
	 ARTICLE IV      COVENANTS
	  	 	14	  
	 SECTION 4.1
	 	 Maintenance of Perfected Security Interest; Further Information
	  	 	14	  
	 SECTION 4.2
	 	 Maintenance of Insurance
	  	 	14	  
	 SECTION 4.3
	 	 Changes in Locations; Changes in Name or Structure
	  	 	14	  
	 SECTION 4.4
	 	 Required Notifications
	  	 	15	  
	 SECTION 4.5
	 	 Delivery Covenants
	  	 	15	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 SECTION 4.6
	 	 Control Covenants
	  	 	15	  
	 SECTION 4.7
	 	 Filing Covenants
	  	 	16	  
	 SECTION 4.8
	 	 Accounts
	  	 	16	  
	 SECTION 4.9
	 	 Intellectual Property
	  	 	17	  
	 SECTION 4.10
	 	 Investment Property; Partnership/LLC Interests
	  	 	18	  
	 SECTION 4.11
	 	 Equipment
	  	 	19	  
	 SECTION 4.12
	 	 Government Contracts
	  	 	19	  
	 SECTION 4.13
	 	 Further Assurances
	  	 	19	  
	 ARTICLE V      REMEDIAL PROVISIONS
	  	 	19	  
	 SECTION 5.1
	 	 General Remedies
	  	 	19	  
	 SECTION 5.2
	 	 Specific Remedies
	  	 	20	  
	 SECTION 5.3
	 	 Registration Rights; Further Approvals
	  	 	22	  
	 SECTION 5.4
	 	 Application of Proceeds
	  	 	23	  
	 SECTION 5.5
	 	 Waiver, Deficiency
	  	 	23	  
	 ARTICLE VI     THE ADMINISTRATIVE AGENT
	  	 	24	  
	 SECTION 6.1
	 	 Administrative Agent’s Appointment as Attorney-In-Fact
	  	 	24	  
	 SECTION 6.2
	 	 Duty of Administrative Agent
	  	 	25	  
	 SECTION 6.3
	 	 Authority of Administrative Agent
	  	 	26	  
	 ARTICLE VII    MISCELLANEOUS
	  	 	26	  
	 SECTION 7.1
	 	 Notices
	  	 	26	  
	 SECTION 7.2
	 	 Amendments, Waivers and Consents
	  	 	26	  
	 SECTION 7.3
	 	 Expenses, Indemnification, Waiver of Consequential Damages, etc.
	  	 	26	  
	 SECTION 7.4
	 	 Right of Set Off
	  	 	27	  
	 SECTION 7.5
	 	 Governing Law; Jurisdiction; Venue; Service of Process
	  	 	27	  
	 SECTION 7.6
	 	 Waiver of Jury Trial
	  	 	28	  
	 SECTION 7.7
	 	 Injunctive Relief
	  	 	29	  
	 SECTION 7.8
	 	 No Waiver by Course of Conduct; Cumulative Remedies
	  	 	29	  
	 SECTION 7.9
	 	 Successors and Assigns
	  	 	29	  
	 SECTION 7.10
	 	 Survival of Indemnities
	  	 	29	  
	 SECTION 7.11
	 	 Titles and Captions
	  	 	29	  
	 SECTION 7.12
	 	 Severability of Provisions
	  	 	30	  
	 SECTION 7.13
	 	 Counterparts
	  	 	30	  
	 SECTION 7.14
	 	 Integration
	  	 	30	  
	 SECTION 7.15
	 	 Advice of Counsel; No Strict Construction
	  	 	30	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 SECTION 7.16
	 	 Acknowledgements
	  	 	30	  
	 SECTION 7.17
	 	 Releases
	  	 	31	  
	 SECTION 7.18
	 	 Additional Grantors
	  	 	31	  
	 SECTION 7.19
	 	 All Powers Coupled with Interest
	  	 	31	  
	 SECTION 7.20
	 	 Intercreditor Agreement
	  	 	31	  

  
 -iii-

 SCHEDULES: 
  

			
	 Schedule 3.4
	  	Filing Offices
		
	 Schedule 3.6
	  	Exact Legal Name; Jurisdiction of Organization; Taxpayer Identification Number; Registered Organization Number; Mailing Address; Chief Executive Office and other
Locations
		
	 Schedule 3.9
	  	Commercial Tort Claims
		
	 Schedule 3.10
	  	Deposit Accounts
		
	 Schedule 3.11
	  	Intellectual Property
		
	 Schedule 3.13
	  	Investment Property and Partnership/LLC Interests
		
	 Schedule 3.14
	  	Instruments
		
	 Schedule 3.16
	  	Government Contracts
		
	 Schedule 3.17
	  	Letter of Credit Rights

  
 iv 

 NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST GRANTED
TO THE ADMINISTRATIVE AGENT PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE ADMINISTRATIVE AGENT HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT REFERRED TO BELOW. IN THE EVENT OF ANY CONFLICT BETWEEN
THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN. SEE SECTION 7.20. 
 This COLLATERAL AGREEMENT, dated as of November 13, 2012 (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made by BROADVIEW
NETWORKS HOLDINGS, INC., a Delaware corporation (“Holdings”), certain of Holdings’ Subsidiaries as identified on the signature pages hereto as “Grantors” and any Additional Grantor (as defined below) who may
become party to this Agreement (together with Holdings and such Subsidiaries, the “Grantors”), in favor of CIT FINANCE LLC, a Delaware limited liability company (“CIT”), as administrative agent (in
such capacity, the “Administrative Agent”) for the ratable benefit of the Secured Parties (as defined below). 
 STATEMENT OF PURPOSE 
 Pursuant to that certain Credit Agreement, dated as
of November 13, 2012, among Holdings, BROADVIEW NETWORKS, INC., a New York corporation (“Broadview Networks”), ARC NETWORKS, INC., a Delaware corporation (“ARC”), BRIDGECOM SOLUTIONS GROUP, INC.,
a Delaware corporation (“BridgeCom Solutions” and, together with Holdings, Broadview Networks, and ARC, each individually a “Borrower” and collectively, the “Borrowers”), the
various financial institutions and other Persons from time to time parties thereto (collectively, the “Lenders”), and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), the Lenders have agreed to make Extensions of Credit to the Borrowers upon the terms and subject to the conditions set forth therein. Capitalized terms used herein and not otherwise defined herein shall
have the meanings ascribed thereto in the Credit Agreement. 
 Pursuant to the terms of the Guaranty Agreement, the Subsidiaries
of Holdings (other than the Borrowers) who are parties hereto have guaranteed the payment and performance of the Obligations. 

It is a condition precedent to the obligation of the Lenders to make their respective Extensions of Credit to the Borrowers (or
participations in respect thereof) under the Credit Agreement that the Grantors shall have executed and delivered this Agreement to the Administrative Agent, for the ratable benefit of itself, the Lenders and any Person that was a Lender or an
Affiliate of a Lender at the time any such Person became party to any Hedging Agreement (collectively, the “Secured Parties”). 
 The Administrative Agent and the Trustee, with the acknowledgement of the Grantors have entered into the Intercreditor Agreement on the date hereof, which Intercreditor Agreement, among other things, sets
forth, as between the Second Priority Agent (as defined therein) and the Administrative Agent, in its capacity as the First Priority Agent (as defined therein), the relative priority of their respective Liens on the Collateral and their rights with
respect thereto. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective Extensions of Credit to the Borrowers (or participations in respect
thereof) thereunder, each Grantor hereby agrees with the Administrative Agent, for the ratable benefit of the Secured Parties, as follows: 

 ARTICLE I 
 DEFINED TERMS 
 SECTION 1.1 Terms Defined in the Uniform Commercial
Code. 
 (a) The following terms when used in this Agreement shall have the meanings assigned to them in the UCC (as defined
in the Credit Agreement) as in effect from time to time: “Account”, “Account Debtor”, “Authenticate”, “Certificated Security”, “Chattel Paper”,
“Commercial Tort Claim”, “Commodity Account”, “Deposit Account”, “Documents”, “Electronic Chattel Paper”, “Equipment”, “Farm
Products”, “Fixture”, “General Intangible”, “Goods”, “Instrument”, “Inventory”, “Investment Company Security”, “Investment
Property”, “Letter of Credit Rights”, “Proceeds”, “Record”, “Registered Organization”, “Securities Entitlement”, “Securities
Intermediary”, “Securities Account”, “Security”, “Supporting Obligation”, “Tangible Chattel Paper”, and “Uncertificated Security”. 

(b) Terms defined in the UCC and not otherwise defined herein or in the Credit Agreement shall have the meaning assigned in the UCC as in
effect from time to time. 
 SECTION 1.2 Definitions. The following terms when used in this Agreement shall have the
meanings assigned to them below: 
 “Additional Grantor” means each Subsidiary of Holdings which
hereafter becomes a Grantor pursuant to Section 7.18 (as required pursuant to Section 8.11 of the Credit Agreement). 
 “Administrative Agent” has the meaning set forth in the Preamble of this Agreement.  
 “Agreement” has the meaning set forth in the Preamble of this Agreement. 
 “Applicable Insolvency Laws” means all Applicable Laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency,
fraudulent transfers or conveyances or other similar laws (including, without limitation, 11 U.S.C. Sections 544, 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code). 

“Assignment of Claims Act” means the Assignment of Claims Act of 1940 (41 U.S.C. Section 15, 31 U.S.C.
Section 3737, and 31 U.S.C. Section 3727), including all amendments thereto and regulations promulgated thereunder. 

“Avoidance Actions” means all claims and causes of action under the Bankruptcy Code, and all related recoveries,
that are or become property of any Grantor (including pursuant to Section 8.2 of the Joint Prepackaged Plan of Reorganization for Broadview Networks Holdings, Inc. and its Affiliated Debtors, dated August 22, 2012, as confirmed on
October 3, 2012). 
 “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. §
101 et seq., as in effect from time to time. 
 “Borrowers” has the meaning set forth in the Statement
of Purpose of this Agreement.  
 “Collateral” has the meaning assigned thereto in Section
2.1. 
 “Collateral Account” means any collateral account established by the Administrative Agent as
provided in Section 5.2. 
 “Commitments” means, collectively, the Revolving Credit Commitment,
the L/C Commitment and the Swingline Commitment. 

  
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 “Control” means the manner in which “control” is achieved
under the UCC with respect, with respect to any Collateral for which the UCC specifies a method of achieving “control”. 
 “Controlled Depository” has the meaning assigned thereto in Section 4.6. 
 “Controlled Intermediary” has the meaning assigned thereto in Section 4.6. 
 “Copyrights” means collectively, all of the following of any Grantor: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright
registrations and copyright applications anywhere in the world, including, without limitation, those listed on Schedule 3.11 hereto, (b) all reissues, extensions, continuations (in whole or in part) and renewals of any of the foregoing,
(c) all income, royalties, damages and payments now or hereafter due and/or payable under any of the foregoing or with respect to any of the foregoing, including, without limitation, damages or payments for past or future infringements of any
of the foregoing, (d) the right to sue for past, present and future infringements of any of the foregoing and (e) all rights corresponding to any of the foregoing throughout the world. 

“Copyright Licenses” means any written agreement naming any Grantor as licensor or licensee, including, without
limitation, those listed in Schedule 3.11, granting any right under any Copyright, including, without limitation, the grant of rights to manufacture, distribute, exploit and sell materials derived from any Copyright. 

“Credit Agreement” has the meaning set forth in the Statement of Purpose of this Agreement. 

“Distributions” means all dividends paid on Capital Stock, liquidating dividends paid on Capital Stock, shares
(or other designations) of Capital S Stock resulting from (or in connection with the exercise of) stock splits, reclassifications, warrants, options, non-cash dividends, mergers, consolidations, and all other distributions (whether similar or
dissimilar to the foregoing) on or with respect to any Capital Stock constituting Collateral. 
 “Effective
Endorsement and Assignment” means, with respect to any specific type of Collateral, all such endorsements, assignments and other instruments of transfer reasonably requested by the Administrative Agent with respect to the Security
Interest granted in such Collateral, and in each case, in form and substance satisfactory to the Administrative Agent. 

“Government Contract” means a contract between any Grantor and an agency, department or instrumentality of the
United States or any state, municipal or local Governmental Authority located in the United States or all obligations of any such Governmental Authority arising under any Account now or hereafter owing by any such Governmental Authority, as account
debtor, to any Grantor. 
 “Grantors” has the meaning set forth in the Preamble of this Agreement.

 “Intellectual Property” means collectively, all of the following of any Grantor: (a) all systems
software, applications software and internet rights, including, without limitation, screen displays and formats, internet domain names, web sites (including web links), program structures, sequence and organization, all documentation for such
software, including, without limitation, user manuals, flowcharts, programmer’s notes, functional specifications, and operations manuals, all formulas, processes, ideas and know-how embodied in any of the foregoing, and all program materials,
flowcharts, notes and outlines created in connection with any of the foregoing, whether or not patentable or copyrightable, (b) concepts, discoveries, improvements and ideas, (c) any useful information relating to the items described in
clause (a) or (b), including know-how, technology, engineering drawings, reports, design information, trade secrets, practices, laboratory notebooks, specifications, test procedures, maintenance manuals, research, development, manufacturing,
marketing, merchandising, selling, purchasing and accounting, (d) Patents and Patent Licenses, Copyrights and Copyright Licenses, Trademarks and Trademark Licenses, and (e) other licenses to use any of the items described in the foregoing
clauses (a), (b), (c) and (d) or any other similar items of such Grantor necessary for the conduct of its business. 

“Intercreditor Agreement” has the meaning set forth in the Statement of Purpose of this Agreement. 

  
 -3-

 “Issuer” means any issuer of any Investment Property or
Partnership/LLC Interests (including, without limitation, any “issuer” as defined in the UCC). 

“Obligations” means with respect to the Borrowers, the meaning assigned thereto in the Credit Agreement, and with
respect to each Guarantor, the obligations of such Guarantor under the applicable Guaranty Agreement executed by such Guarantor and with respect to all Grantors, all liabilities and obligations of the Grantors hereunder and all liabilities and
obligations of the Grantors with respect to overdrafts, returned items and related liabilities and all indemnification obligations under the Loan Documents now or hereafter owing by any Grantor to CIT, any Affiliate thereof or the Administrative
Agent arising from or in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds for the benefit of such Grantor. 

“Partnership/LLC Interests” means, with respect to any Grantor, the entire partnership, membership interest or
limited liability company interest, as applicable, of such Grantor in each partnership, limited partnership or limited liability company owned thereby, including, without limitation, such Grantor’s capital account, its interest as a partner or
member, as applicable, in the net cash flow, net profit and net loss, and items of income, gain, loss, deduction and credit of any such partnership, limited partnership or limited liability company, as applicable, such Grantor’s interest in all
Distributions made or to be made by any such partnership, limited partnership or limited liability company, as applicable, to such Grantor and all of the other economic rights, titles and interests of such Grantor as a partner or member, as
applicable, of any such partnership, limited partnership or limited liability company, as applicable, whether set forth in the partnership agreement or membership agreement, as applicable, of such partnership, limited partnership or limited
liability company, as applicable, by separate agreement or otherwise. 
 “Patents” means collectively,
all of the following of any Grantor: (a) all patents, rights and interests in patents, patentable inventions and patent applications anywhere in the world, including, without limitation, those listed on Schedule 3.11 hereto, (b) all
reissues, extensions, continuations (in whole or in part) and renewals of any of the foregoing, (c) all income, royalties, damages or payments now or hereafter due and/or payable under any of the foregoing or with respect to any of the
foregoing, including, without limitation, damages or payments for past, present or future infringements of any of the foregoing, (d) the right to sue for past, present and future infringements of any of the foregoing and (e) all rights
corresponding to any of the foregoing throughout the world. 
 “Patent License” means all agreements now
or hereafter in existence, whether written, implied or oral, providing for the grant by or to any Grantor of any right to manufacture, use or sell any invention covered in whole or in part by a Patent, including, without limitation, any of the
foregoing referred to in Schedule 3.11 hereto. 
 “Restricted Securities Collateral” means any or
all Collateral that, in order to exercise its right to sell any or all of such Collateral, the Administrative Agent determines that it is necessary or advisable to register such Collateral under the provisions of the Securities Act. 

“Secured Parties” has the meaning set forth in the Statement of Purpose of this Agreement. 

“Securities Act” means the Securities Act of 1933, including all amendments thereto and regulations promulgated
thereunder. 
 “Security Interests” means the security interests granted pursuant to Article II,
as well as all other security interests created or assigned as additional security for the Obligations pursuant to the provisions of the Credit Agreement. 
 “Termination Date” means the date on which all Obligations have been paid in full in cash, all Letters of Credit have been terminated or expired (or cash collateralized to the
reasonable satisfaction of the Issuing Bank(s) thereof), all Hedging Agreements have been terminated and all Commitments shall have been terminated. 
 “Trademarks” means collectively all of the following of any Grantor: (a) all trademarks, rights and interests in trademarks, trade names, corporate names, company names,
business names, fictitious business names, trade styles, service marks, logos, other business identifiers, prints and labels on which any of the foregoing have 

  
 -4-

 appeared or appear, whether registered or unregistered, all registrations and recordings thereof, and all
applications in connection therewith (other than each application to register any trademark or service mark prior to the filing under Applicable Law of a verified statement of use for such trademark or service mark) anywhere in the world, including,
without limitation, those listed on Schedule 3.11 hereto, (b) all reissues, extensions, continuations (in whole or in part) and renewals of any of the foregoing, (c) all income, royalties, damages and payments now or hereafter due
and/or payable under any of the foregoing or with respect to any of the foregoing, including, without limitation, damages or payments for past, present or future infringements of any of the foregoing, (d) the right to sue for past, present and
future infringements of any of the foregoing and (e) all rights corresponding to any of the foregoing (including the goodwill) throughout the world. 
 “Trademark License” means any agreement now or hereafter in existence, whether written or oral, providing for the grant by or to any Grantor of any right to use any Trademark,
including, without limitation, any of the foregoing referred to in Schedule 3.11. 
 SECTION 1.3 Other Definitional
Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: (a) the definitions of terms herein shall apply equally to the singular and plural forms of the
terms defined, (b) whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms, (c) the words “include”, “includes” and “including” shall be deemed to be
followed by the phrase “without limitation”, (d) the word “will” shall be construed to have the same meaning and effect as the word “shall”, (e) any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set
forth herein), (f) any reference herein to any Person shall be construed to include such Person’s permitted successors and assigns, (g) the words “herein”, “hereof” and “hereunder”, and words of similar
import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (h) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement, (i) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights, (j) the term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in
physical or electronic form, (k) in the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean
“to but excluding;” and the word “through” means “to and including”, (1) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the
interpretation of this Agreement or any other Loan Document and (m) where the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the
relevant part thereof. Any reference in this Agreement or in any of the other Loan Documents to a Default that is continuing or an Event of Default that is continuing or the continuance thereof, shall mean (i) in the case of a Default, one that
has not been cured within any applicable cure period (to the extent susceptible to cure), and (ii) in the case of an Event of Default, one that has not been waived in writing by the Administrative Agent and/or Required Lenders, as the case may
be. In further clarification of the foregoing, any Event of Default under this Agreement or under any other Loan Document shall be “continuing” unless and until such Event of Default has been waived in writing by the Administrative Agent
and/or Required Lenders, as the case may be. 
 ARTICLE II 

SECURITY INTEREST 
 SECTION 2.1 Grant of Security Interest. Each Grantor hereby grants, pledges and collaterally assigns to the Administrative Agent, for the ratable benefit of the Secured Parties, a continuing
security interest in, all of such Grantor’s right, title and interest in the following property, now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right,
title or interest, and wherever located or deemed located (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or
otherwise) of the Obligations: 

  
 -5-

 (a)    all Accounts; 

(b)    all Avoidance Actions; 
 (c)    all cash and currency; 
 (d)    all
Chattel Paper; 
 (e)    all Commercial Tort Claims identified on Schedule 3.9; 

(f)    all Deposit Accounts; 
 (g)    all Documents; 
 (h)    all
Equipment; 
 (i)    all Fixtures; 
 (j)    all General Intangibles; 

(k)    all Goods; 
 (1)    all Instruments; 
 (m)    all
Intellectual Property; 
 (n)    all Inventory; 

(o)    all Investment Property; 
 (p)    all Letter of Credit Rights; 

(q)    all other personal property and rights of every kind and description and interests therein not otherwise
described above; 
 (r)    all books and records pertaining to the Collateral; and 

(s)    to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and, to the
extent not otherwise included, (A) all payments under insurance (whether or not the Administrative Agent is the loss payee thereof) and (B) all tort claims, and all collateral security and Supporting Obligations given by any Person with
respect to any of the foregoing, 
 provided, that the Security Interests granted herein shall not extend to, and the term
“Collateral” (including, without limitation, any defined term comprising a part thereof) shall not include, any Excluded Collateral. 
 SECTION 2.2 Grantors Remain Liable. Anything herein to the contrary notwithstanding: (a) each Grantor shall remain liable to perform all of its duties and obligations under the contracts and
agreements included in the Collateral to the same extent as if this Agreement had not been executed, (b) the exercise by the Administrative Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations
under the contracts and agreements included in the Collateral, (c) neither the Administrative Agent nor any other Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of
this Agreement, nor shall the Administrative Agent or any other Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder,
and (d) neither the Administrative Agent nor any other Secured Party shall have any liability in contract or tort for any Grantor’s acts or omissions. 

  
 -6-

 SECTION 2.3 Distributions on Pledged Shares. If any Distribution is made in
contravention of Section 9.6 of the Credit Agreement, such Grantor shall hold the same segregated and in trust for the Administrative Agent until paid to the Administrative Agent in accordance with Section 5.2. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 To induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective Extensions of Credit to the Borrowers thereunder, each Grantor
hereby represents and warrants to the Administrative Agent and each other Secured Party that: 
 SECTION 3.1 Existence.
Each Grantor is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation, has the requisite power and authority to own its properties and to carry on its business as now being and
hereafter proposed to be conducted and is duly qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification and authorization except in jurisdictions
where the failure to be so qualified or in good standing could not reasonably be expected to have a Material Adverse Effect. 

SECTION 3.2 Authorization of Agreement. No Conflict. Each Grantor has the right, power and authority and has taken all necessary
corporate and other action to authorize the execution, delivery and performance of this Agreement in accordance with its terms. This Agreement has been duly executed and delivered by the duly authorized officers of each Grantor and this Agreement
constitutes the legal, valid and binding obligation of such Grantor, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor
relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies. The execution, delivery and performance by the Grantors of this Agreement does not and will not, by
the passage of time, the giving of notice or otherwise, (i) conflict with, result in a breach of or constitute a default under the articles of incorporation, bylaws or other organizational documents of any Grantor, (ii) conflict with,
result in a breach of or constitute a default under any material indenture, agreement or other instrument to which any Grantor is a party or by which any of its properties may be bound or any material Governmental Approval relating to such Grantor
or (iii) result in or require the creation or imposition of any Lien upon or with respect to any property or revenues now owned or hereafter acquired by any Grantor other than Liens arising under the Loan Documents. 

SECTION 3.3 Consents. No approval, consent, exemption, authorization or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against any Grantor or any Issuer of this Agreement, except (a) as may be required by laws
affecting the offering and sale of securities generally, (b) filings with the United States Copyright Office and/or the United States Patent and Trademark Office, (c) filings under the UCC and/or the Assignment of Claims Act, and
(d) those that have been obtained or for which failure to obtain or make could not reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.4 Perfected First Priority Liens. Each financing statement naming any Grantor as a debtor is in appropriate form for filing in the appropriate filing offices of the states specified on
Schedule 3.4. The Security Interests granted pursuant to this Agreement (a) constitute valid security interests in all of the Collateral in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, as collateral
security for the Obligations, and (b): (i) when UCC financing statements containing an adequate description of the Collateral, the correct name of the Grantor and the name of the Administrative Agent shall have been filed in the offices
specified in Schedule 3.4, the Security Interests will constitute perfected security interests in all right, title and interest of such Grantor in the Collateral to the extent that a security interest therein may be perfected by filing
pursuant to the UCC, prior to all other Liens and rights of others therein except for Permitted Liens; (ii) when each Copyright security agreement has been filed with the United States Copyright Office, the Security Interests will constitute
perfected security interests in all right, title and interest of such Grantor in the Intellectual Property therein described, prior to all other Liens and rights of others therein except for Permitted Liens; and (iii) when each Control
Agreement has been executed and delivered to the Administrative Agent, the Security Interests will constitute perfected security interests in all 

  
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right, title and interest of the Grantors in the Deposit Accounts and/or Securities Accounts (as applicable) subject thereto, prior to all other Liens and rights of others therein and subject to
no adverse claims except for Permitted Liens and customary Liens in favor of the depositary at which such Deposit Accounts are maintained. 
 SECTION 3.5 Title. No Other Liens. Except for the Security Interests, each Grantor owns each item of the Collateral free and clear of any and all Liens or claims other than Permitted Liens. No
effective financing statement under the UCC of any state which names a Grantor as debtor or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as have been filed in favor
of the Administrative Agent, for the ratable benefit of the Secured Parties, pursuant to this Agreement or in connection with Permitted Liens. No Collateral is in the possession or Control of any Person asserting any claim thereto or security
interest therein, except that (a) the Administrative Agent or its designee may have possession or Control of Collateral as contemplated hereby, (b) a depositary bank may have Control of a Deposit Account owned by a Grantor at such
depositary bank and a Securities Intermediary may have Control over a Securities Account owned by a Grantor at such Securities Intermediary, in each case subject to the terms of any Control Agreement and to the extent required by Section 4, in
favor of the Administrative Agent, and (c) a bailee, consignee or other Person may have possession of the Collateral as contemplated by, and so long as the applicable Grantors have complied to the satisfaction of the Administrative Agent, with
the applicable provisions of Section 4.6(c). 
 SECTION 3.6 State of Organization; Location of Inventory,
Equipment and Fixtures; other Information. 
 (a) The exact legal name of each Grantor is set forth on Schedule 3.6.
Except as set forth on Schedule 3.6 under such Grantor’s name, during the four months preceding the date hereof, no Grantor has been known by any other legal name, nor has any Grantor been the subject of any merger or other corporate
reorganization. 
 (b) Each Grantor is a Registered Organization organized under the laws of the state identified on Schedule
3.6 under such Grantor’s name. The taxpayer identification number and Registered Organization number of each Grantor is set forth on Schedule 3.6 under such Grantor’s name. 

(c) All Collateral consisting of Inventory, Equipment and Fixtures (whether now owned or hereafter acquired) is (or will be) located at
the locations specified on Schedule 3.6, except (i) as provided in Section 4.6(c), (ii) to the extent such Inventory, Equipment and Fixtures are not subject to the provisions of Section 4.6(c), Inventory,
Equipment and Fixtures in transit or out for repair, or (iii) otherwise permitted hereunder. 
 (d) The mailing address of
each Grantor is specified on Schedule 3.6 under such Grantor’s name. 
 SECTION 3.7 Accounts. The amount
represented by each Grantor to the Administrative Agent as owing by each Account Debtor is, or will be, the correct amount actually and unconditionally owing, except for ordinary cash discounts and allowances in accordance with such Grantor’s
prudent business conduct, as determined by such Grantor. No Account Debtor has any defense, set-off, claim or counterclaim against any Grantor that can be asserted against the Administrative Agent, whether in any proceeding to enforce Administrative
Agent’s rights in the Collateral or otherwise except defenses, setoffs, claims or counterclaims that are not, in the aggregate, material to the value of the Accounts as a whole. None of the Accounts is, nor will any hereafter arising Account
be, evidenced by a promissory note or other Instrument (other than a check) that has not been pledged to the Administrative Agent in accordance with the terms hereof. 
 SECTION 3.8 Chattel Paper. As of the date hereof, no Grantor holds any Chattel Paper in the ordinary course of its business. 

SECTION 3.9 Commercial Tort Claims. As of the date hereof, all Commercial Tort Claims owned by any Grantor are listed on
Schedule 3.9. 
 SECTION 3.10 Deposit Accounts. As of the date hereof, all Deposit Accounts (including, without
limitation, cash management accounts that are Deposit Accounts, but excluding Deposit Accounts that constitute Excluded Collateral) and lockboxes (including the: (a) owner of the account, (b) name and address of financial institution or
securities broker where such accounts are located, (c) account numbers and (d) purpose or use of such account) owned by any Grantor are listed on Schedule 3.10. 

  
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 SECTION 3.1l Intellectual Property. 

(a) As of the date hereof, all Copyright registrations, Copyright applications, issued Patents, Patent applications, Trademark
registrations and Trademark applications owned by any Grantor in its own name on the date hereof is listed on Schedule 3.11. 
 (b) Except as set forth in Schedule 3.11 on the date hereof, none of the Intellectual Property owned by any Grantor is the subject of any written licensing or franchise agreement pursuant to which
such Grantor is the licensor or franchisor, except as could not reasonably be expected to have a Material Adverse Effect. 

SECTION 3.12 Inventory. To the knowledge of each Grantor, none of such Grantor’s Inventory is subject to any licensing,
Patent, Trademark, trade name or Copyright with any Person that restricts any Grantor’s ability to manufacture and/or sell such Inventory. The completion of the manufacturing process of such Inventory by a Person other than the applicable
Grantor would be permitted under any contract to which such Grantor is a party or to which the Inventory is subject. 
 SECTION
3.13 Investment Property; Partnership/LLC Interests. 
 (a) As of the date hereof, all Investment Property (including,
without limitation, Securities Accounts, Commodity Accounts, and cash management accounts that are Investment Property) and all Partnership/LLC Interests owned by any Grantor are listed on Schedule 3.13. 

(b) All Investment Property and all Partnership/LLC Interests issued by any Issuer to any Grantor (i) have been duly and validly
issued and, if applicable, are fully paid and nonassessable (except as such rights may arise under mandatory provisions of applicable statutory law that may not be waived or otherwise agreed and not as a result of any rights contained in any
organizational document), (ii) are beneficially owned as of record by such Grantor and (iii) constitute all the issued and outstanding shares of the Capital Stock of such Issuer issued to such Grantor. 

(c) Other than as disclosed on Schedule 3.13(c) hereto, all of the Partnership/LLC Interests by their terms expressly provide that
they are Securities governed by Article 8 of the UCC. 
 SECTION 3.14 Instruments. As of the date hereof, no Grantor
holds any Instruments or is named a payee of any promissory note or other evidence of indebtedness other than as set forth on Schedule 3.14. 
 SECTION 3.15 Farm Products. As of the date hereof, other than as disclosed on Schedule 3.15 hereto, none of the Collateral constitutes, or is the Proceeds of, Farm Products. 

SECTION 3.16 Government Contracts. As of the date hereof, no Grantor is party to any contract with a Governmental Authority under
which such Governmental Authority, as account debtor, owes a monetary obligation to any Grantor under any account with a value in excess of $100,000, other than as set forth on Schedule 3.16. 

SECTION 3.17 Letter of Credit Rights. 
 (a) As of the date hereof, all Letter of Credit Rights of any Grantor are listed on Schedule 3.17. 
 (b) To the extent it is does not constitute Excluded Collateral, each Grantor shall instruct (and otherwise use its commercially reasonable efforts to cause) each issuer of any letter of credit relating
to any Letter of Credit Rights to provide a legal, valid and enforceable consent of assignment of the Proceeds of such letter of credit to the Administrative Agent and no Grantor has consented to, and is otherwise aware of, any Person (other than
the Administrative Agent pursuant hereto) having control (within the meaning of Section 9-104 of the UCC) over, or any other interest in any of such Grantor’s rights in respect thereof. 

  
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 ARTICLE IV 
 COVENANTS 
 Until the Termination Date, each Grantor covenants and agrees
that: 
 SECTION 4.1 Maintenance of Perfected Security Interest; Further Information. 

(a) Each Grantor shall maintain the Security Interest created by this Agreement as a first priority perfected Security Interest (subject
only to Permitted Liens and except to the extent otherwise provided in the Intercreditor Agreement) and shall defend such Security Interest against the claims and demands of all Persons whomsoever (other than holders of Permitted Liens).
Notwithstanding the foregoing Administrative Agent will not have a first priority perfected security interest in cash not held in Deposit Accounts, and Commercial Tort Claims in an amount less than $250,000. 

(b) Each Grantor will furnish to the Administrative Agent upon the Administrative Agent’s reasonable request statements and
schedules further identifying and describing the assets and property of such Grantor and such other reports in connection therewith as the Administrative Agent may reasonably request, all in reasonable detail. 

SECTION 4.2 Maintenance of Insurance. 
 (a) Each Grantor will maintain, with financially sound and reputable companies, insurance policies (i) insuring the Collateral against loss by fire, explosion, theft, fraud and such other casualties,
including business interruption, as may be reasonably satisfactory to the Administrative Agent in amounts and with deductibles at least as favorable as those generally maintained by businesses of similar size engaged in similar activities and
(ii) insuring such Grantor and the Administrative Agent, for the ratable benefit of the Secured Parties, against liability for hazards, risks and liability to persons and property relating to the Collateral, in amounts and with deductibles at
least as favorable as those generally maintained by businesses of similar size engaged in similar activities, such policies to be in such form and having such coverage as may be reasonably satisfactory to the Administrative Agent. 

(b) All insurance referred to in subsection (a) above shall (i) name the Administrative Agent, for the ratable benefit of the
Secured Parties, as loss payee (to the extent covering risk of loss or damage to tangible property) and as an additional insured as its interests may appear (to the extent covering any other risk), (ii) provide that no cancellation, material
reduction in amount or material change in coverage thereof shall be effective until at least thirty (30) days after receipt by the Administrative Agent of written notice thereof and (iii) be reasonably satisfactory in all other respects to
the Administrative Agent. 
 (c) Upon the reasonable request of the Administrative Agent from time to time, each Grantor shall
deliver to the Administrative Agent and the Lenders periodic information from a reputable insurance broker with respect to the insurance referred to in this Section 4.2. 

SECTION 4.3 Changes in Locations; Changes in Name or Structure. No Grantor will, except upon thirty (30) days’ prior
written notice to the Administrative Agent and delivery to the Administrative Agent of (a) all additional financing statements and other instruments and documents reasonably requested by the Administrative Agent to maintain the validity,
perfection and priority of the Security Interests and (b) if applicable, a written supplement to the Schedules of this Agreement: 
 (i) permit any Deposit Account (other than a Deposit Account that constitutes Excluded Collateral) to be held by or at a depositary bank other than the depositary bank that held such Deposit Account as of
the date hereof as set forth on Schedule 3.10; 
 (ii) permit any Investment Property (other than
Certificated Securities delivered to the Administrative Agent pursuant to Section 4.5) to be held by a Securities Intermediary other than the 

  
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 Securities Intermediary that held such Investment Property as of the date hereof as set
forth on Schedule 3.13; 
 (iii) change its jurisdiction of organization from that identified on
Schedule 3.6; or 
 (iv) change its legal name, identity or corporate or organizational structure.

 SECTION 4.4 Required Notifications. Each Grantor shall promptly notify the Administrative Agent, in writing, of:
(a) any Lien (other than Permitted Liens) on any of the Collateral which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder, (b) the occurrence of any other event which could reasonably
be expected to have a Material Adverse Effect on the aggregate value of the Collateral or on the Security Interests, and (c) the acquisition or ownership by such Grantor of any (i) Commercial Tort Claim in excess of $250,000 and deliver to
the Administrative Agent a written supplement to Schedule 3.9 of this Agreement describing such Commercial Tort Claim, (ii) Deposit Account (other than a Deposit Account that constitutes Excluded Collateral), or (iii) Investment
Property in excess of $250,000 after the date hereof. 
 SECTION 4.5 Delivery Covenants. Each Grantor will deliver and
pledge to the Administrative Agent, for the ratable benefit of the Secured Parties, all Certificated Securities, Partnership/LLC Interests evidenced by a certificate, negotiable Documents, Instruments (in the face amount equal to, or greater than,
$50,000), and Tangible Chattel Paper owned or held by such Grantor, in each case, together with an Effective Endorsement and Assignment and all Supporting Obligations, as applicable, unless such delivery and pledge has been waived in writing by the
Administrative Agent. For the avoidance of doubt, nothing contained in this Section 4.5 is intended to supersede, modify or abrogate the obligations of the Grantors to comply with the requirements of Section 8.14 of the
Credit Agreement. 
 SECTION 4.6 Control Covenants. 

(a) Each Grantor shall instruct (and otherwise use its commercially reasonable efforts to cause), 

(i) each depositary bank (other than the Administrative Agent) holding a Deposit Account (other than a Deposit Account
that constitutes Excluded Collateral) owned by such Grantor (unless (x) such Deposit Account has (and at all times during the term of this Agreement will have) a credit balance of less than $50,000, and (y) such Deposit Account, together
with all other Deposit Accounts for which there is no Control Agreement in effect and for which a Control Agreement would be required to be in effect but for these clauses (x) and (y), has an aggregate credit balance of less than
$200,000) and 
 (ii) each Securities Intermediary holding any Investment Property owned by such Grantor (unless
(x) such Investment Property has (and at all times during the term of this Agreement will have) a value of less than $50,000, and (y) such Investment Property, together with all other Investment Property for which there is no Control
Agreement in effect and for which a Control Agreement would be required to be in effect but for these clauses (x) and (y), has an aggregate value of less than $200,000), 
 to execute and deliver a Control Agreement sufficient to provide the Administrative Agent with Control of such Deposit Account or such Investment Property (as the case may be), providing that no such
depositary bank or Securities Intermediary shall take instructions from the applicable Grantor after notice from the Administrative Agent of the commencement of a Cash Dominion Period (but upon expiration of any Cash Dominion Period the
Administrative Agent shall notify such depositary bank or such Securities Intermediary that the applicable Grantor is once again entitled to give instructions to such depositary bank or Securities Intermediary), and otherwise in form and substance
reasonably satisfactory to the Administrative Agent (any such depositary bank executing and delivering any such Control Agreement, a “Controlled Depositary”, and any such Securities Intermediary executing and delivering any
such Control Agreement, a “Controlled Intermediary”). In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such Control Agreement, the Administrative Agent, in its sole discretion,
may require the applicable Deposit Account and Investment Property to be transferred to the Administrative Agent or a Controlled Depositary or Controlled Intermediary, as applicable. All Deposit Accounts and all Investment Property (other than such
Deposit Accounts and Investment Property that constitute Excluded Collateral) will be maintained with the Administrative Agent or with a Controlled Depository or a Controlled Intermediary, as applicable. 

  
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 (b) Each Grantor will take such actions and deliver all such agreements as are requested by
the Administrative Agent to provide the Administrative Agent with Control of all Letter of Credit Rights and Electronic Chattel Paper owned or held by such Grantor, including, without limitation, with respect to any such Electronic Chattel Paper, by
having the Administrative Agent identified as the assignee on the Record(s) pertaining to the single authoritative copy thereof. 
 (c) If any Collateral (other than Collateral specifically subject to the provisions of Section 4.6(a) and Section 4.6(b)) exceeding in value $250,000 in the aggregate (such
Collateral exceeding such amount, the “Excess Collateral”) is at any time in the possession or control of any consignee, warehouseman, bailee (other than a carrier transporting Inventory to a purchaser in the ordinary course
of business), processor, or any other third party, such Grantor shall notify such Person in writing of the Security Interests created hereby, shall use its commercially reasonable efforts to obtain such Person’s written agreement to hold all
such Collateral for the Administrative Agent’s account subject to the Administrative Agent’s instructions, and shall use its commercially reasonable efforts to cause such Person to issue and deliver to the Administrative Agent warehouse
receipts, bills of lading or any similar documents relating to such Collateral to the Administrative Agent’s together with an Effective Endorsement and Assignment; provided that if such Grantor is not able to obtain such agreement and
cause the delivery of such items, the Administrative Agent, in its sole discretion, may require such Excess Collateral to be moved to another location specified thereby. Further, each Grantor shall perfect and protect such Grantor’s ownership
interests in all Inventory that is Excess Collateral stored with a consignee for more than twelve (12) months against creditors of the consignee by filing and maintaining financing statements against the consignee reflecting the consignment
arrangement filed in all appropriate filing offices, providing any written notices required to notify any prior creditors of the consignee of the consignment arrangement. 
 SECTION 4.7 Filing Covenants. Pursuant to Section 9-509 of the UCC and any other Applicable Law, each Grantor authorizes the Administrative Agent to file or record financing statements and
other filing or recording documents or instruments with respect to the Collateral to perfect as applicable, the Security Interests of the Administrative Agent under this Agreement. Such financing statements may describe the Collateral in the same
manner as described herein or may contain an indication or description of Collateral that describes such property in any other manner as the Administrative Agent may determine, in its sole discretion, is necessary, advisable or prudent to ensure the
perfection of the Security Interest in the Collateral granted herein, including, without limitation, describing such property as “all assets” or “all personal property.” 

SECTION 4.8 Accounts. 
 (a) Other than in the ordinary course of business consistent with prudent business conduct as determined by such Grantor, no Grantor will (i) grant any extension of the time of payment of any
Account, (ii) compromise or settle any Account for less than the full amount thereof, (iii) release, wholly or partially, any Account Debtor, (iv) allow any credit or discount on any Account or (v) amend, supplement or modify any
Account in any manner that could reasonably be likely to adversely affect the value thereof. 
 (b) Each Grantor will deliver to
the Administrative Agent a copy of each material demand, notice or document received by it that questions or calls into doubt the validity or enforceability of any material Account. 

(c) Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall have the right to make test
verifications of the Accounts in any manner and through any medium that it reasonably considers advisable, and each Grantor shall furnish all such assistance and information as the Administrative Agent may reasonably require in connection with such
test verifications. At any time and from time to time, upon the Administrative Agent’s request and (i) no more than once per Fiscal Year or at any time after the occurrence and during the continuance of an Event of Default at the expense
of the relevant Grantor or (ii) at any time at the expense of the Lenders, such Grantor shall cause independent public accountants or others satisfactory to the Administrative Agent to furnish to the Administrative Agent reports showing
reconciliations, aging and test verifications of, and trial balances for, the Accounts. 

  
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 SECTION 4.9 Intellectual Property. 

(a) Except as could not reasonably be expected to have a Material Adverse Effect, each Grantor (either itself or through licensees)
(i) will continue to use each registered Trademark (owned by such Grantor) and Trademark for which an application (owned by such Grantor) is pending, to the extent reasonably necessary to maintain such Trademark in full force free from any
claim of abandonment for non-use, (ii) will maintain products and services offered under such Trademark at a level substantially consistent with the quality of such products and services as of the date hereof, (iii) will not (and not
permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby such Trademark could reasonably be expected to become invalidated or impaired in any way, (iv) will not do any act, or knowingly omit to do any
act, whereby any issued Patent owned by such Grantor would reasonably be expected to become forfeited, abandoned or dedicated to the public, (v) will not (and will not permit any licensee or sublicensee thereof to) do any act or knowingly omit
to do any act whereby any registered Copyright owned by such Grantor or Copyright for which an application is pending (owned by such Grantor) could reasonably be expected to become invalidated or otherwise impaired and (vi) will not (either
itself or through licensees) do any act whereby any material portion of the Copyrights may fall into the public domain. 
 (b)
Except as could not reasonably be expected to have a Material Adverse Effect, each Grantor will notify the Administrative Agent and the Lenders promptly if it knows, or has reason to know, that any application or registration relating to any
Intellectual Property owned by such Grantor shall become forfeited, abandoned or dedicated to the public, or of any adverse final determination regarding such Grantor’s ownership of, or the validity of, any Intellectual Property owned by such
Grantor or such Grantor’s right to register the same or to own and maintain the same. 
 (c) No less frequently than once
per fiscal quarter (for each fiscal quarter in which any new application is made), the Grantors shall provide a report to the Administrative Agent of any new applications for the registration of any Intellectual Property with the United States
Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political subdivision thereof, made by the Grantors during such fiscal quarter, whether such application is made by a Grantor
or through any agent, employee, licensee or designee of a Grantor. Upon request of the Administrative Agent, the applicable Grantor shall execute and deliver, and have recorded, any and all agreements, instruments, documents, and papers as the
Administrative Agent may reasonably request to evidence the security interest of the Secured Parties in any Copyright, Patent or Trademark and the goodwill and General Intangibles of such Grantor relating thereto or represented thereby. 

(d) Except as could not reasonably be expected to have a Material Adverse Effect, each Grantor will take all reasonable and necessary
steps, at such Grantor’s sole cost and expense, including, without limitation, in any proceeding before the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or
any political subdivision thereof, to maintain and pursue each application unless Grantor shall reasonably deem it appropriate under the circumstances to pursue such application (and to obtain the relevant registration) and to maintain each
registration of material Intellectual Property, including, without limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability. 
 (e) In the event that any Grantor learns that any material Intellectual Property owned by a Grantor is materially infringed, misappropriated or diluted by a third party, the applicable Grantor shall
(i) at such Grantor’s sole cost and expense, take such actions as such Grantor shall reasonably deem appropriate under the circumstances to protect such Intellectual Property and (ii) if such Intellectual Property is of material
economic value, promptly notify the Administrative Agent after it learns of such infringement, misappropriation or dilution. 

SECTION 4.10 Investment Property; Partnership/LLC Interests. 

(a) Without the prior written consent of the Administrative Agent, no Grantor will (i) vote to enable, or take any other action to
permit, any applicable Issuer to issue any Investment Property or Partnership/LLC Interests, except for such additional Investment Property or Partnership/LLC Interests that will be subject to the Security Interest granted herein in favor of the
Secured Parties, or (ii) enter into any agreement or undertaking in violation of the Credit Agreement. The Grantors will defend the right, title and interest of the Administrative Agent in and to any Investment Property and Partnership/LLC
Interests against the claims and demands of all Persons 

  
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whomsoever. With respect to any Investment Property or Partnership/LLC Interest that is an “uncertificated security” for purposes of the UCC (other than any “uncertificated
securities” credited to a Securities Account), each Grantor shall cause the Issuer of such uncertificated security to either (i) register the Administrative Agent as the registered owner thereof on the books and records of the Issuer or
(ii) execute an uncertificated securities Control Agreement, pursuant to which such Issuer agrees to comply with the Administrative Agent’s instructions with respect to such uncertificated security without further consent by such Grantor.

 (b) If any Grantor shall become entitled to receive or shall receive (i) any Certificated Securities (including, without
limitation, any certificate representing a Distribution), option or rights in respect of the ownership interests of any Issuer, whether in addition to, in substitution of, as a conversion of, or in exchange for, any Investment Property, or otherwise
in respect thereof, or (ii) any sums paid upon or in respect of any Investment Property upon the liquidation or dissolution of any Issuer, such Grantor shall accept the same as the agent of the Secured Parties, hold the same in trust for the
Secured Parties, segregated from other funds of such Grantor, and promptly deliver the same to the Administrative Agent, on behalf of the Secured Parties, in accordance with the terms hereof. 

SECTION 4.11 Equipment. In accordance with prudent business conduct to be determined in Grantor’s sole discretion, each
Grantor will maintain each item of Equipment in good working order and condition (reasonable wear and tear and obsolescence excepted), and generally in accordance with any manufacturer’s manual, and will as quickly as practicable provide all
maintenance, service and repairs reasonably necessary for such purpose and will promptly furnish to the Administrative Agent a statement respecting any material loss or damage to any of the Equipment. 

SECTION 4.12 Government Contracts. Each Grantor shall promptly notify the Administrative Agent, in writing, (i) at the time
of submission of each Borrowing Base Certificate, but in no event less frequently than once per month, if it enters into any contract with a Governmental Authority under which such Government Authority, as account debtor, owes a monetary obligation
in excess of $250,000 per year (aggregating, for such purpose, all such contracts with any single Government Authority) and (ii) no less frequently than once per fiscal quarter, of any Collateral which, to the knowledge of such Grantor,
constitutes a Government Contract at all times when the aggregate amount of monetary obligations owed by Government Authorities, as account debtors, under all Government Contracts with Grantors equals or exceeds $3,000,000 per year. 

SECTION 4.13 Further Assurances. Upon the request of the Administrative Agent and at the sole expense of the Grantors, each
Grantor will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Administrative Agent may reasonably request for the purpose of obtaining or preserving the full
benefits of this Agreement and of the rights and powers herein granted, including, without limitation, (i) the assignment of any Material Contract, (ii) with respect to Government Contracts, assignment agreements and notices of assignment,
in form and substance satisfactory to the Administrative Agent, duly executed by any Grantors party to such Government Contract in compliance with the Assignment of Claims Act (and/or analogous state Applicable Law), and (iii) all applications,
certificates, instruments, registration statements, and all other documents and papers the Administrative Agent may reasonably request and as may be required by law in connection with the obtaining of any consent, approval, registration,
qualification, or authorization of any Person deemed necessary or appropriate for the effective exercise of any rights under this Agreement. 
 ARTICLE V  
 REMEDIAL PROVISIONS 

SECTION 5.1 General Remedies. If an Event of Default shall occur and be continuing, the Administrative Agent, on behalf of the
Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party
under the UCC or any other Applicable Law. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice
required by Applicable Law as referred to below) to or upon 

  
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any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived to the fullest extent permitted by Applicable Law), may in such
circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part
thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Administrative Agent or any other Secured Party or elsewhere upon such terms and
conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim all warranties in connection with any sale or other
disposition of the Collateral, including, without limitation, any warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the
extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor
further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or
elsewhere. To the fullest extent permitted by Applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any other Secured Party arising out of the exercise by them of any rights hereunder
except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a
proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale or other disposition. 

SECTION 5.2 Specific Remedies. (a) The Administrative Agent hereby authorizes each Grantor to collect such Grantor’s
Accounts in the ordinary course of its business; provided that, the Administrative Agent may curtail or terminate such authority at any time after the occurrence and during the continuance of an Event of Default. 

(b) Upon the occurrence and during the continuance of an Event of Default: 

(i) the Administrative Agent may communicate with Account Debtors of any Account and parties to any Material Contract
subject to a Security Interest and, upon the request of the Administrative Agent, each Grantor shall notify (such notice to be in form and substance satisfactory to the Administrative Agent) its Account Debtors and parties to the Material Contracts
subject to a Security Interest that such Accounts and the Material Contracts have been assigned to the Administrative Agent, for the ratable benefit of the Secured Parties; 

(ii) if requested by the Administrative Agent, each Grantor shall forward to the Administrative Agent, on the last
Business Day of each week, deposit slips related to all cash, money, checks or any other similar items of payment received by the Grantor during such week, and, if requested by the Administrative Agent, copies of such checks or any other similar
items of payment, together with a statement showing the application of all payments on the Collateral during such week and a collection report with regard thereto, in form and substance satisfactory to the Administrative Agent; 

(iii) the Administrative Agent may deliver notices and instructions in accordance with Control Agreements covering Deposit
Accounts and/or Securities Accounts. Other than during a Cash Dominion Period, the Administrative Agent may not deliver any notices or instructions in accordance with the Control Agreements covering Deposit Accounts and/or Securities Accounts. In
addition, whenever any Grantor shall receive any cash, money, checks or any other similar items of payment relating to any Collateral (including any Proceeds of any Collateral), subject to the terms of any Permitted Liens, such Grantor agrees that
it will, within one (1) Business Day of such receipt, deposit all such items of payment into the Collateral Account or in a Deposit Account at a Controlled Depositary, and until such Grantor shall deposit such cash, money, checks or any other
similar items of payment in the Collateral Account or in a Deposit Account at a Controlled Depositary, such Grantor shall hold such cash, money, checks or any other similar items of payment in trust for the Secured Parties and as property of the
Secured Parties, and the Administrative Agent shall have the right to transfer or direct the transfer of the balance of each Deposit Account to the Collateral Account. All such Collateral and Proceeds of Collateral received by the

  
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Administrative Agent hereunder shall be held by the Administrative Agent in the Collateral Account as collateral security for all the Obligations and shall not constitute payment thereof until
applied as provided in Section 5.4; 
 (iv) the Administrative Agent shall have the right to receive
any and all cash dividends, payments or other Distributions made in respect of any Investment Property, any Partnership/LLC Interests or any other Proceeds paid in respect of any Investment Property or any Partnership/LLC Interests, and any or all
of any Investment Property or any Partnership/LLC Interests shall be registered in the name of the Administrative Agent or its nominee, and the Administrative Agent or its nominee may thereafter exercise (A) all voting, corporate and other
rights pertaining to such Investment Property or such Partnership/LLC Interests at any meeting of shareholders, partners or members of the relevant Issuers and (B) any and all rights of conversion, exchange and subscription and any other
rights, privileges or options pertaining to such Investment Property or such Partnership/LLC Interests as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Investment
Property or any and all of the Partnership/LLC Interests upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the corporate, partnership or company structure of any Issuer or upon the exercise by any
Grantor or the Administrative Agent of any right, privilege or option pertaining to such Investment Property or such Partnership/LLC Interests, and in connection therewith, the right to deposit and deliver any and all of the Investment Property or
any and all of the Partnership/LLC Interests with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the Administrative Agent may determine), all without liability except to account for
property actually received by it; but the Administrative Agent shall have no duty to any Grantor to exercise any such right, privilege or option and the Administrative Agent and the other Secured Parties shall not be responsible for any failure to
do so or delay in so doing. In furtherance thereof, each Grantor hereby authorizes and instructs each Issuer with respect to any Collateral consisting of Investment Property and Partnership/LLC Interests to (i) comply with any instruction
received by it from the Administrative Agent in writing that (A) states that an Event of Default has occurred and is continuing and (B) is otherwise in accordance with the terms of this Agreement, without any other or further instructions
from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so complying following receipt of such notice and prior to notice that such Event of Default is no longer continuing, and (ii) except as otherwise expressly
permitted hereby, pay any dividends, payments or other Distributions with respect to any Investment Property or any Partnership/LLC Interests directly to the Administrative Agent; 

(v) the Administrative Agent shall be entitled to (but shall not be required to): (A) proceed to perform any and all
obligations of the applicable Grantor under any Material Contract and exercise all rights of such Grantor thereunder as fully as such Grantor itself could, (B) do all other acts which the Administrative Agent may deem necessary or proper to
protect its Security Interest granted hereunder, provided such acts are not inconsistent with or in violation of the terms of any of the Credit Agreement, the other Loan Documents or Applicable Law, and (C) sell, assign or otherwise transfer
any Material Contract in accordance with the Credit Agreement, the other Loan Documents and Applicable Law, subject, however, to the prior approval of each other party to such Material Contract, to the extent required under the Material Contract;
and 
 (c) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice
to the relevant Grantor of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 5.2(b), each Grantor shall be permitted to receive all cash dividends, payments or other Distributions made in
respect of any Investment Property and any Partnership/LLC Interests, to the extent permitted in the Credit Agreement, and to exercise all voting and other corporate, company and partnership rights with respect to any Investment Property and any
Partnership/LLC Interests; provided that, no vote shall be cast or other corporate, company and partnership right exercised or other action taken in violation of the Credit Agreement, this Agreement or any other Loan Document. 

SECTION 5.3 Registration Rights; Further Approvals. (a) Each Grantor recognizes that the Administrative Agent may be unable
to effect a public sale of any or all the Restricted Securities Collateral, by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to resort to one or more private
sales thereof to a restricted group of purchasers which will be 

  
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obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and
agrees that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially
reasonable manner. The Administrative Agent shall be under no obligation to delay a sale of any of the Restricted Securities Collateral for the period of time necessary to permit the Issuer thereof to register such securities for public sale under
the Securities Act, or under applicable state securities laws, even if such Issuer would agree to do so. 
 (b) Each Grantor
agrees to use its commercially reasonable efforts to do or cause to be done all such other acts as may be necessary to make such sale or sales of all or any portion of the Restricted Securities Collateral valid and binding and in compliance with any
and all other Applicable Laws. Notwithstanding the foregoing, Grantors are not required to register the Restricted Securities Collateral for public sale under the Securities Act or under applicable state securities law. 

(c) In connection with the exercise of the rights and remedies of the Secured Parties, it may be necessary to obtain the prior consent,
waiver or approval of one or more Governmental Authorities to any transfer, assignment or other disposition of Collateral or with respect to the operation of any Collateral (including any Licenses issued by any Governmental Authority), including,
without limitation, the FCC and any applicable PUC. Each Grantor hereby agrees, upon the occurrence and during the continuance of any Event of Default, that it will execute, deliver and file, and hereby appoints (to the extent not prohibited by
Applicable Law) the Administrative Agent as its attorney-in-fact to execute, deliver and file, on each Grantor’s behalf and in the applicable Grantor’s name, all applications, certificates, filings, instruments and other documents
(including, without limitation, an application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the Administrative Agent’s discretion, to obtain such consents or approvals. Each Grantor further
agrees to take such further action as the Administrative Agent may reasonably request in obtaining such approvals or consents upon and during the continuance of any Default or Event of Default. 

(d) Each Grantor further agrees that a breach of any of the covenants contained in this Section 5.3 will cause irreparable
injury to the Administrative Agent and the other Secured Parties, that the Administrative Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in
this Section 5.3 shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees to the fullest extent permitted by Applicable Law not to assert any defenses against an action for specific performance of
such covenants except for a defense that no Event of Default has occurred under the Credit Agreement. 
 SECTION 5.4
Application of Proceeds. At such intervals as may be agreed upon in writing by the Borrowers and the Administrative Agent, or, if an Event of Default shall have occurred and be continuing, at any time at the Administrative Agent’s
election, the Administrative Agent may apply all or any part of the Collateral or any Proceeds of the Collateral in payment in whole or in part of the Obligations (after deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Administrative Agent and the Lenders hereunder, including, without limitation, reasonable
attorneys’ fees and disbursements) in accordance with Section 10.4 of the Credit Agreement. Only after (i) the payment by the Administrative Agent of any other amount required by any provision of Applicable Law, including,
without limitation, Section 9-610 and Section 9-615 of the UCC and (ii) the payment in full of the Obligations and the termination of the Commitments, shall the Administrative Agent account for the surplus, if any, to any Grantor, or
to whomever may be lawfully entitled to receive the same (if such Person is not a Grantor). 
 SECTION 5.5 Waiver,
Deficiency. Each Grantor hereby waives, to the fullest extent permitted by Applicable Law, all rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in force under any Applicable Law in order to prevent or
delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its
Obligations and the reasonable fees and disbursements of any attorneys employed by the Administrative Agent or any other Secured Party to collect such deficiency. 

  
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 ARTICLE VI 
 THE ADMINISTRATIVE AGENT 
 SECTION 6.1 Administrative Agent’s
Appointment as Attornev-In-Fact. (a) Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full
irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all
documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, such power of attorney to be exercised by the Administrative Agent only upon the occurrence and during the continuance of an Event of
Default, and, without limiting the generality of the foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following upon
the occurrence and during the continuation of an Event of Default: 
 (i) in the name of such Grantor or its own
name, or otherwise, take possession of and indorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any Account or Material Contract subject to a Security Interest or with respect to any
other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Administrative Agent for the purpose of collecting any and all such moneys due under any Account or
Material Contract subject to a Security Interest or with respect to any other Collateral whenever payable; 

(ii) in the case of any Intellectual Property, execute and deliver, and have recorded, any and all agreements,
instruments, documents and papers as the Administrative Agent may request to evidence the Administrative Agent’s and the Secured Parties’ security interest in such Intellectual Property and the goodwill and General Intangibles of such
Grantor relating thereto or represented thereby; 
 (iii) pay or discharge taxes and Liens levied or placed on or
threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof; 

(iv) execute, in connection with any sale provided for in this Agreement, any endorsements, assignments or other
instruments of conveyance or transfer with respect to the Collateral; and 
 (v) (A) direct any party liable
for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; (B) ask or demand for, collect, and receive
payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (C) sign and indorse any invoices, freight or express bills, bills of lading, storage or
warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (D) commence and prosecute any suits, actions or proceedings at law or in equity in any court of
competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (E) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral;
(F) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Administrative Agent may deem appropriate; (G) assign any Copyright, Patent or Trademark (along with
the goodwill of the business to which any such Copyright, Patent or Trademark pertains), for such term or terms, on such conditions, and in such manner, as the Administrative Agent shall in its sole discretion determine; and (H) generally,
sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Administrative Agent were the absolute owner thereof for all purposes, and do, at the Administrative
Agent’s option and such Grantor’s expense, at any time, or from time to time, all acts and things which the Administrative Agent deems necessary to protect, preserve or realize upon the Collateral and the Security Interests of the Secured
Parties therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 

  
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 (b) If any Grantor fails to perform or comply with any of its agreements contained herein,
the Administrative Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement in accordance with the provisions of Section 6.1(a). 

(c) The reasonable expenses of the Administrative Agent incurred in connection with actions taken pursuant to the terms of this
Agreement, together with interest thereon at a rate per annum equal to the highest rate per annum at which interest would then be payable on any category of past due Base Rate Loans under the Credit Agreement, from the date of payment by the
Administrative Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Administrative Agent on demand. 
 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof in accordance with Section 6.1(a). All powers, authorizations and agencies contained
in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the Security Interests created hereby are released. 
 SECTION 6.2 Duty of Administrative Agent. The sole duty of the Administrative Agent with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under
Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the Administrative Agent, any other Secured Party nor any of their
respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral
upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Administrative Agent and the other Secured Parties hereunder are solely to
protect the interests of the Administrative Agent, and the other Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent or any other Secured Party to exercise any such powers. The Administrative Agent and the
other Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any
act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 SECTION 6.3 Authority of
Administrative Agent. Each Grantor acknowledges that the rights and responsibilities of the Administrative Agent under this Agreement with respect to any action taken by the Administrative Agent or the exercise or non exercise by the
Administrative Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Administrative Agent and the Lenders, be governed by the Credit
Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative Agent and the Grantors, the Administrative Agent shall be conclusively presumed to be acting as agent for the
Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement to make any inquiry respecting such authority. 

ARTICLE VII 

MISCELLANEOUS 
 SECTION 7.1 Notices. All notices and communications hereunder shall be given to the addresses and otherwise made in accordance with Section 12.1 of the Credit Agreement; provided
that notices and communications to the Grantors shall be directed to the Grantors, at the address of Holdings set forth in Section 12.1 of the Credit Agreement. 
 SECTION 7.2 Amendments, Waivers and Consents. None of the terms, covenants, agreements or conditions of this Agreement may be amended, supplemented or otherwise modified, nor may they be waived,
nor may any consent be given, except in accordance with Section 12.2 of the Credit Agreement. 

  
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 SECTION 7.3 Expenses, Indemnification, Waiver of Consequential Damages, etc.
(a) Each Grantor, jointly and severally, shall pay all out-of-pocket expenses incurred by the Administrative Agent and each other Secured Party pursuant to, and in accordance with, the applicable provisions of Section 12.3 of the
Credit Agreement. 
 (b) Each Grantor, jointly and severally, shall indemnify each Indemnitee pursuant to, and in accordance
with, Section 12.3 of the Credit Agreement. 
 (c) Notwithstanding anything to the contrary contained in this
Agreement, to the fullest extent permitted by Applicable Law, each Grantor shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Extension of Credit or
the use of the proceeds thereof. 
 (d) No Indemnitee referred to in this Section 7.3 shall be liable for any
damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan
Documents or the transactions contemplated hereby or thereby. 
 (e) Each Grantor agrees to pay, and to save the Administrative
Agent and the other Secured Parties harmless from, any and all liabilities with respect to, or resulting from any such Grantor’s delay in paying, any and all stamp, excise, sales withholding or other taxes which may be payable or determined to
be payable in connection with any of the transactions contemplated by this Agreement. 
 (f) All amounts due under this
Section 7.3 shall be payable promptly after demand therefor. 
 SECTION 7.4 Right of Set Off. If an Event of
Default shall have occurred and be continuing and subject to Section 4.6, each Secured Party and each of its respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Applicable Law,
to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Secured Party or any such Affiliate to
or for the credit or the account of such Grantor against any and all of the obligations of such Grantor now or hereafter existing under this Agreement or any other Loan Document to such Secured Party irrespective of whether or not such Secured Party
shall have made any demand under this Agreement or any other Loan Document and although such obligations of such Grantor may be contingent or unmatured or are owed to a branch or office of such Secured Party different from the branch or office
holding such deposit or obligated on such indebtedness. The rights of each Secured Party and its respective Affiliates under this Section are in addition to other rights and remedies (including other rights of set off) that such Secured Party or its
respective Affiliates may have. Each Secured Party agrees to notify such Grantor and the Administrative Agent promptly after any such set off and application; provided that the failure to give such notice shall not affect the validity of such
set off and application. 
 SECTION 7.5 Governing Law; Jurisdiction; Venue; Service of Process, (a) Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York (without regard to its conflicts of laws principles). 
 (b) Submission to Jurisdiction. Each Grantor irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the state and federal courts of the State of
New York sitting in New York County and the United States District Court of the Southern District and any appellate court thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for
recognition or enforcement of any judgment, and each of the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State court or, to the fullest
extent permitted by Applicable Law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by Applicable Law. Nothing in this Agreement or in any other Loan Document shall affect any right that the Administrative Agent or any other Secured Party may otherwise have to

  
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bring any action or proceeding relating to this Agreement or any other Loan Document against any Grantor or its properties in the courts of any jurisdiction. 

(c) Waiver of Venue. Each Grantor irrevocably and unconditionally waives, to the fullest extent permitted by Applicable Law, any
objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by Applicable Law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Service of Process. Each party hereto irrevocably consents to service of process in the manner provided for notices in
Section 12.1 of the Credit Agreement. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by Applicable Law. 

(e) Appointment of Holdings as Agent for the Grantors. Each Grantor hereby irrevocably appoints and authorizes Holdings to act as
its agent for service of process and notices required to be delivered under this Agreement or under the other Loan Documents, it being understood and agreed that receipt by Holdings of any summons, notice or other similar item shall be deemed
effective receipt by each Grantor and its Subsidiaries. 
 SECTION 7.6 Waiver of Jury Trial. EACH PARTY HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 7.7 Injunctive Relief. (a) The Grantors
recognize that, in the event the Grantors fail to perform, observe or discharge any of their obligations or liabilities under this Agreement or any other Loan Document, any remedy of law may prove to be inadequate relief to the Administrative Agent
and the other Secured Parties. Therefore, the Grantors agree that the Administrative Agent and the other Secured Parties, at the option of the Administrative Agent and the other Secured Parties, shall be entitled to temporary and permanent
injunctive relief in any such case without the necessity of proving actual damages. 
 (b) The Administrative Agent, the other
Secured Parties and each Grantor hereby agree that no such Person shall have a remedy of punitive or exemplary damages against any other party to a Loan Document and each such Person hereby waives any right or claim to punitive or exemplary damages
that they may now have or may arise in the future in connection with any Dispute, whether such Dispute is resolved through arbitration or judicially. 
 SECTION 7.8 No Waiver by Course of Conduct; Cumulative Remedies. Neither the Administrative Agent nor any other Secured Party shall by any act (except by a written instrument pursuant to
Section 7.2), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default. No delay or failure to take action on the part of the Administrative
Agent or any other Secured Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or privilege hereunder shall preclude any other or further
exercise thereof or the exercise of any other right, power or privilege. A waiver by the Administrative Agent or any other Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy
which the Administrative Agent or such other Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or
remedies provided by Applicable Law. 

  
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 SECTION 7.9 Successors and Assigns. The provisions of this Agreement shall be binding
upon and inure to the benefit of each Grantor (and shall bind all Persons who become bound as a Grantor to this Agreement), the Administrative Agent and the other Secured Parties and their respective successors and permitted assigns; except that no
Grantor may assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the Administrative Agent and the other Lenders (except as otherwise provided by the Credit Agreement). 

SECTION 7.10 Survival of Indemnities. Notwithstanding any termination of this Agreement, the indemnities to which the
Administrative Agent and the other Secured Parties are entitled under the provisions of Section 7.3 and any other provision of this Agreement and the other Loan Documents shall continue in full force and effect and shall protect the
Administrative Agent and the other Secured Parties against events arising after such termination as well as before. 
 SECTION
7.11 Titles and Captions. Titles and captions of Articles, Sections and subsections in, and the table of contents of, this Agreement are for convenience only, and neither limit nor amplify the provisions of this Agreement. 

SECTION 7.12 Severability of Provisions. Any provision of this Agreement or any other Loan Document which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating the remainder of such provision or the remaining provisions hereof or thereof or
affecting the validity or enforceability of such provision in any other jurisdiction. 
 SECTION 7.13 Counterparts. This
Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and shall be binding upon all parties, their successors and assigns,
and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement or any document or instrument delivered in connection herewith by facsimile or other electronic
transmission shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 
 SECTION 7.14 Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and
supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of the Credit Agreement shall control;
provided that any provision of any other Loan Document which imposes additional burdens on any Grantor or further restricts the rights of any Grantor or gives the Administrative Agent or the other Secured Parties additional rights shall not
be deemed to be in conflict or inconsistent with this Agreement and shall be given full force and effect. 
 SECTION 7.15
Advice of Counsel; No Strict Construction. Each of the parties represents to each other party hereto that it has discussed this Agreement with its counsel. The parties hereto have participated jointly in the negotiation and drafting of this
Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement. 
 SECTION 7.16 Acknowledgements. (a) Each Grantor hereby
acknowledges that: 
 (i) it has been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Loan Documents to which it is a party; 
 (ii) it has received a copy of the Credit
Agreement and has reviewed and understands same; 
 (iii) neither the Administrative Agent nor any other Secured
Party has any fiduciary relationship with or duty to any Grantor arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors, on the one hand, and the Administrative Agent and the
other Secured Parties, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 

  
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 (iv) no joint venture is created hereby or by the other Loan Documents or
otherwise exists by virtue of the transactions contemplated hereby or thereby among the Secured Parties or among the Grantors and the Secured Parties. 
 (b) Each Issuer party to this Agreement acknowledges receipt of a copy of this Agreement and agrees to be bound thereby and to comply with the terms thereof insofar as such terms are applicable to it.
Each Issuer agrees to provide such notices to the Administrative Agent as may be necessary to give full effect to the provisions of this Agreement. 
 SECTION 7.17 Releases. (a) On the Termination Date, the Collateral shall be released from the Liens created hereby, and this Agreement and all obligations (other than those expressly stated to
survive such termination) of the Administrative Agent and each Grantor hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Grantors. At the
request and sole expense of any Grantor following any such termination, the Administrative Agent shall deliver to such Grantor any Collateral held by the Administrative Agent hereunder, and execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence such termination. 
 (b) If any of the Collateral shall be sold, transferred or
otherwise disposed of by any Grantor in a transaction permitted by the Credit Agreement, then the Administrative Agent, at the request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or other documents
reasonably necessary or desirable to evidence the release of the Liens created hereby on such Collateral. In the event that all the Capital Stock of any Grantor shall be sold, transferred or otherwise disposed of in a transaction permitted by the
Credit Agreement, then, such Grantor shall be released from its obligations hereunder and, at the request of the Borrowers and at the expense of the Grantor, the Administrative Agent shall deliver to Grantor any such Capital Stock held by the
Administrative Agent hereunder and shall execute and deliver to such Grantor all releases or other documents reasonably necessary to evidence the release of the Liens created hereby on such Capital Stock; provided that the Borrowers shall
have delivered to the Administrative Agent, at least ten (10) Business Days prior to the date of the proposed release, a written request for release identifying the relevant Grantor and the terms of the sale or other disposition in reasonable
detail, including the price thereof and any expenses in connection therewith, together with a certification by the Borrowers stating that such transaction is in compliance with the Credit Agreement and the other Loan Documents. 

SECTION 7.18 Additional Grantors. Each Subsidiary of the Borrowers that is required to become a party to this Agreement pursuant
to Section 8.11 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of a joinder agreement in form and substance reasonably satisfactory to the Administrative
Agent. 
 SECTION 7.19 All Powers Coupled with Interest. All powers of attorney and other authorizations granted to the
Secured Parties, the Administrative Agent and any Persons designated by the Administrative Agent or any other Secured Party pursuant to any provisions of this Agreement or any of the other Loan Documents shall be deemed coupled with an interest and
shall be irrevocable so long as any of the Obligations remain unpaid or unsatisfied, any of the Commitments remain in effect or the Credit Facility has not been terminated. 
 SECTION 7.20 Intercreditor Agreement. 
 (a) The Liens granted
hereunder in favor of the Administrative Agent for the benefit of the Secured Parties in respect of the Collateral and the exercise of any right related thereto thereby shall be subject, in each case, to the terms of the Intercreditor Agreement.

 (b) In the event there is a conflict or inconsistency between the Intercreditor Agreement and any other Loan Document, the
terms of the Intercreditor Agreement shall control; provided, however, that no reference herein or in any other Loan Document to the Intercreditor Agreement and nothing contained in this Agreement or any other 

  
 -23-

 Loan Documents regarding the relative priority of this Agreement or any other Loan Document vis a vis the
Intercreditor Agreement with regard to inconsistencies between them, is intended to (and expressly does not) grant, provide or otherwise enable any right of action, claim, defense, affirmative defense or reliance by the Grantors (or any of them)
based upon the Intercreditor Agreement, which is solely and expressly intended to apply to the relationship between the Administrative Agent and the Lenders on the one hand and the Notes Collateral Agent, the Trustee and the holders of the Senior
Secured Notes on the other hand. The Grantors have no rights whatsoever as third party beneficiaries under or with respect to the Intercreditor Agreement and notwithstanding anything to the contrary provided in the Intercreditor Agreement, are
required to comply with all of the provisions of the Loan Documents. 
 (c) Notwithstanding anything to the contrary herein, any
provision hereof that requires any Grantor to (i) deliver any Collateral that consists of Pledged Collateral (as defined in the Intercreditor Agreement) that constitutes Second Priority Collateral (as defined in the Intercreditor Agreement) to
the Administrative Agent may be satisfied by the delivery of such Collateral by such Grantor to the Second Priority Agent (as defined in the Intercreditor Agreement) for the benefit of the Second Priority Lenders (as defined in the Intercreditor
Agreement) and the Administrative Agent in its capacity as the First Priority Agent (as defined in the Intercreditor Agreement) for the benefit of the First Priority Lenders (as defined in the Intercreditor Agreement) pursuant to
Section 5.5(b) of the Intercreditor Agreement; or (ii) provide that the Administrative Agent have Control over such Collateral may be satisfied by causing the Second Priority Agent to be provided with Control with respect to such
Collateral of such Grantor for the benefit of the Second Priority Lenders and the Administrative Agent in its capacity as the First Priority Agent for the benefit of the First Priority Lenders pursuant to Section 5.5(b) of the
Intercreditor Agreement. 
 [Signature Pages to Follow] 

  
 -24-

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Agreement to be executed
under seal by their duly authorized officers, all as of the day and year first written above. 
  

	
	GRANTORS:
	
	 BROADVIEW NETWORKS HOLDINGS, INC.
 BROADVIEW NETWORKS, INC.
 ARC NETWORKS, INC.

BRIDGECOM SOLUTIONS GROUP, INC.
 BRIDGECOM
HOLDINGS, INC.
 A.R.C. NETWORKS, INC.

ATX COMMUNICATIONS, INC.
 ATX LICENSING,
INC.
 ATX TELECOMMUNICATIONS SERVICES OF VIRGINIA, LLC
 BRIDGECOM INTERNATIONAL, INC.
 BROADVIEW NETWORKS OF MASSACHUSETTS, INC.

BROADVIEW NETWORKS OF VIRGINIA, INC.
 BROADVIEW
NP ACQUISITION CORP.
 BV-BC ACQUISITION CORP.
 CORECOMM-ATX, INC.
 CORECOMM COMMUNICATIONS, LLC

DIGICOM, INC.
 EUREKA BROADBAND
CORPORATION
 EUREKA HOLDINGS, LLC

EUREKA NETWORKS, LLC
 EUREKA TELECOM,
INC.
 EUREKA TELECOM OF VA, INC.

INFO-HIGHWAY INTERNATIONAL, INC.
 INFOHIGHWAY
COMMUNICATIONS CORPORATION
 INFOHIGHWAY OF VIRGINIA, INC.
 NEX-I.COM INC.
 OPEN SUPPORT SYSTEMS LLC
 TRUCOM CORPORATION

  

			
	By:	 	

	Name:	 	Michael K. Robinson
	Title:	 	President and CEO of each of the foregoing entities

 [SIGNATURE PAGE TO COLLATERAL AGREEMENT] 

 
			
	ADMINISTRATIVE AGENT:
	
	CIT FINANCE LLC
	By:	 	

	Name:	 	Renee M. Singer
	Title:	 	Managing Director

 [SIGNATURE PAGE TO COLLATERAL AGREEMENT] 

 Schedule 3.4 
 Filing Offices 
  

			
	Name                       
                         	  	Filing
Office                                        
        
	OPEN SUPPORT SYSTEMS LLC	  	Connecticut Secretary of State
	Broadview Networks Holdings, Inc.	  	Delaware Secretary of State
	BV-BC Acquisition Corporation	  	Delaware Secretary of State
	Broadview NP Acquisition Corp.	  	Delaware Secretary of State
	ATX Communications, Inc.	  	Delaware Secretary of State
	Eureka Broadband Corporation	  	Delaware Secretary of State
	Broadview Networks of Massachusetts, Inc.	  	Delaware Secretary of State
	BridgeCom Holdings, Inc.	  	Delaware Secretary of State
	CoreComm Communications, LLC	  	Delaware Secretary of State
	Eureka Holdings, LLC	  	Delaware Secretary of State
	BridgeCom International, Inc.	  	Delaware Secretary of State
	BridgeCom Solutions Group, Inc.	  	Delaware Secretary of State
	ATX Licensing, Inc.	  	Delaware Secretary of State
	Eureka Networks, LLC	  	Delaware Secretary of State
	InfoHighway Communications Corporation	  	Delaware Secretary of State
	CoreComm-ATX, Inc.	  	Delaware Secretary of State
	ATX Telecommunications Services of Virginia, LLC	  	Delaware Secretary of State
	ARC Networks, Inc.	  	Delaware Secretary of State
	nex-i.com inc.	  	New Jersey Division of Commercial Recording
	Broadview Networks, Inc.	  	New York Secretary of State
	TruCom Corporation	  	New York Secretary of State
	Eureka Telecom, Inc.	  	New York Secretary of State
	A.R.C. Networks, Inc.	  	New York Secretary of State
	Digicom, Inc.	  	Ohio Secretary of State
	Info-Highway International, Inc.	  	Texas Secretary of State
	Broadview Networks of Virginia, Inc.,	  	Virginia State Corporation Commission
	Eureka Telecom of VA, Inc.	  	Virginia State Corporation Commission
	InfoHighway of Virginia, Inc.	  	Virginia State Corporation Commission

  
 Sch-1

 Schedule 3.6 
 Legal Name; Jurisdiction of Organization; Taxpayer ID; Mailing Address; 

Chief Executive Office and Other Locations 
  

					
	Name of Obligor/Chief Executive Office and Principal Place of
Business                    	  	Jurisdiction
of Organization	  	Tax ID Number
	 Broadview Networks Holdings, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	11-3310798
			
	 Broadview Networks, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	New York	  	16-1401082
			
	 BV-BC Acquisition Corporation

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	20-5377846
			
	 Broadview NP Acquisition Corp.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	51-0402734
			
	 OPEN SUPPORT SYSTEMS LLC

800 Westchester Ave., Rye Brook, NY 10573
	  	Connecticut	  	11-3409972
			
	 ATX Communications, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	13-4078506
			
	 Eureka Broadband Corporation

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	06-1506004
			
	 Broadview Networks of Virginia, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Virginia	  	06-1596404
			
	 Broadview Networks of Massachusetts, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	11-3448054
			
	 BridgeCom Holdings, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	13-4162965
			
	 CoreComm Communications, LLC

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	13-4072077
			
	 Eureka Holdings, LLC

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	20-4453279
			
	 BridgeCom International, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	13-4123985
			
	 BridgeCom Solutions Group, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	13-4123989
			
	 TruCom Corporation

800 Westchester Ave., Rye Brook, NY 10573
	  	New York	  	13-3940714

  
 Sch-2

					
	Name of Obligor/Chief Executive Office and Principal Place of
Business                    	  	Jurisdiction
of Organization	  	Tax ID Number
	 Digicom, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Ohio	  	34-1460777
			
	 CoreComm-ATX, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	23-3060529
			
	 Eureka Telecom, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	New York	  	13-3793720
			
	 Eureka Telecom of VA, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Virginia	  	52-2325508
			
	 ATX Licensing, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	23-3039838
			
	 Eureka Networks, LLC

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	20-3341244
			
	 InfoHighway Communications Corporation

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	76-0530551
			
	 ATX Telecommunication Services of Virginia, LLC

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	31-1773888
			
	 InfoHighway of Virginia, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Virginia	  	26-0291600
			
	 A.R.C. Networks, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	New York	  	11-3240814
			
	 nex-i.com inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	New Jersey	  	22-3697035
			
	 Info-Highway International, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Texas	  	76-0438543
			
	 ARC Networks, Inc.

800 Westchester Ave., Rye Brook, NY 10573
	  	Delaware	  	11-3464934

  
 Sch-3

 Schedule 3.9 
 Commercial Tort Claims 
 None. 

  
 Sch-4

 Schedule 3.10 
 Deposit Accounts 
  

					
	 Bank
	  	 Entity
	    	 Account Number

	 Citibank, N.A.

1022 Broadway
 Thomwood, NY 10594
	  	Broadview Networks, Inc.	    	38674481
	  	Broadview Networks, Inc.	    	09963276
	  	Broadview Networks, Inc.	    	09963268
	  	Broadview Networks, Inc.	    	39922352
		  	Broadview Networks, Inc.	    	49571189
		  	Broadview Networks, Inc.	    	49571226
		  	Broadview Networks, Inc.	    	9937549378
		  	Broadview Networks, Inc.	    	9937552139
		  	Broadview Networks, Inc.	    	9937555321
		  	Broadview Networks, Inc.	    	9946878237
		  	Bridgecom International, Inc.	    	38674502
		  	Bridgecom International, Inc.	    	49571170
		  	Bridgecom Solutions Group, Inc.	    	68015540
		  	Bridgecom Solutions Group, Inc.	    	38674529
		  	Broadview Networks Holdings, Inc.	    	39920672
		  	CoreComm-ATX, Inc.	    	9973402496
		  	CoreComm-ATX, Inc	    	38675986
		  	Eureka Networks, LLC	    	9975348489
		  	Eureka Networks, LLC	    	38675978
		  	ARC Networks, Inc.	    	9977624678

  
 Sch-5

 Schedule 3.11 
 Intellectual Property 
 1. The listing of Trademarks (as defined in the Collateral
Agreement) should include: (a) the Trademark; (b) Registration Number or Serial Number; (c) the Owner; (d) the Filing Date or the Registration Date (and country in the case of non-US registered Trademarks). 

US Registered Trademarks 
  

											
	 Trademark
	  	 Reg. No.
	 	  	 Reg. Date
	 	  	 Owner

				
	 Broadview Networks
	  	 	2,494,916	  	  	 	10/02/2001	  	  	Broadview Networks Holdings, Inc.
				
	 Eye Design (logo)
	  	 	2,559,668	  	  	 	04/09/2002	  	  	Broadview Networks, Inc.
				
	 Broadspeed
	  	 	2,486,260	  	  	 	09/04/2001	  	  	Broadview Networks, Inc.
				
	 Broadviewnet.com
	  	 	2,828,186	  	  	 	03/30/2004	  	  	Broadview Networks Holdings, Inc.
				
	 NATURAL CONVERGENCE
	  	 	3,199,996	  	  	 	01/23/2007	  	  	Broadview Networks, Inc.
				
	 SILHOUETTE
	  	 	2,957,599	  	  	 	05/31/2005	  	  	Broadview Networks, Inc.
				
	 OFFICESUITE PLUS
	  	 	4,144,049	  	  	 	08/30/2011	  	  	Broadview Networks, Inc.
				
	 OFFICESUITE PLUS INDIVIDUAL
	  	 	4,144,055	  	  	 	05/15/2012	  	  	Broadview Networks, Inc.
				
	 OFFICESUITE PLUS EXECUTIVE
	  	 	4,144,057	  	  	 	05/15/2012	  	  	Broadview Networks, Inc.
				
	 OFFICESUITE
	  	 	4,043,306	  	  	 	10/18/2011	  	  	Broadview Networks, Inc.
				
	 BROADVIEW OFFICESUITE
	  	 	4,176,438	  	  	 	07/17/2012	  	  	Broadview Networks, Inc.
				
	 SILHOUETTE Design & word mark (logo)
	  	 	4,078,255	  	  	 	12/27/2011	  	  	Broadview Networks, Inc.
				
	 Design (logo)
	  	 	4,078,256	  	  	 	12/27/2011	  	  	Broadview Networks, Inc.
				
	 BROADVIEW NETWORKS
	  	 	4,138,173	  	  	 	05/08/2012	  	  	Broadview Networks, Inc.

 Non-US Registered Trademarks 
  

									
	 Country
	  	 Trademark
	  	 Reg. No.
	  	 Reg. Date
	  	 Owner

					
	 UK, Benelux
	  	SILHOUETTE	  	1080715	  	05/25/2011	  	Broadview Networks, Inc.
					
	 Canada
	  	NATURAL CONVERGENCE	  	TMA642000	  	06/15/2005	  	Broadview Networks, Inc.

  
 Sch-6

									
					
	 Canada
	  	SILHOUETTE	  	TMA657192	  	01/24/2006	  	Broadview Networks, Inc.
					
	 Canada
	  	CLOUDVIEW SOLUTIONS	  	App. No. 1526243	  		  	Broadview Networks, Inc.
					
	 UK, Benelux
	  	Design & word mark (logo)	  	1087491	  	07/21/2011	  	Broadview Networks, Inc.
					
	 UK, Benelux
	  	Design (logo)	  	1089699	  	07/25/2011	  	Broadview Networks, Inc.

 2. The listing of Trademark Licenses (as defined in the Collateral Agreement) should include: (a) Name
and Address of Licensee/Licensor; (b) Date; (c) List of each Trademark Licensed/Assigned; and (d) Description of product to which license/assignment applies. 
 None 
 3. The listing of Patents (as defined in the Collateral Agreement) should
include: (a) Country; (b) Patent Number; (c) Issue Date; (d) Owner; and (e) Description 
  

									
	 Country
	    	 Patent No.
	    	 Issue Date
	    	 Owner
	    	 Description

					
	 US
	    	6,661,888 B2	    	12/9/03	    	Open Source
Systems LLC	    	Method for moving telecommunications onto network
					
	 US
	    	6,097,804	    	08/01/2000	    	Broadview Networks, Inc.	    	Method and system for completing a voice connection between first and second voice terminals in a switched telephone network
					
	 US
	    	6,226,289	    	05/01/2001	    	Broadview Networks, Inc.	    	Method and apparatus for dynamically routing calls in an intelligent network
					
	 US
	    	6,236,722	    	05/22/2001	    	Broadview Networks, Inc.	    	Method and system for using TCAP signaling for improved call setup from a virtual switching point
					
	 US
	    	6,493,444	    	10/10/2002	    	Broadview Networks, Inc.	    	Enhanced application telephone network
					
	 US
	    	6,724,876	    	04/20/2004	    	Broadview Networks, Inc.	    	Method and apparatus for effecting telecommunications service features using call control information extracted from a bearer channel in a telecommunications
network
					
	 US
	    	6,766,009	    	07/20/2004	    	Broadview Networks, Inc.	    	Method and system for correlating telephone calls with information delivery
					
	 US
	    	6,839,422	    	01/04/2005	    	Broadview Networks, Inc.	    	Method and apparatus for providing local call treatment discrimination for selected calls on a switched telephone
network

  
 Sch-7

									
					
	 US
	    	7,206,582	    	04/17/2007	    	Broadview Networks, Inc.	    	Method, system, and apparatus for call path reconfiguration
					
	 US
	    	7,289,805	    	10/30/2007	    	Broadview Networks, Inc.	    	Method and system for providing a temporary subscriber identity to a roaming mobile communications device
					
	 US
	    	7,636,431	    	12/22/2009	    	Broadview Networks, Inc.	    	Method and apparatus for subscriber control of an inbound call
					
	 US
	    	8,208,412	    	06/26/2012	    	Broadview Networks, Inc.	    	Method and system for network address translation (NAT) traversal of real time protocol (RTP) media
					
	 Canada
	    	2539527	    	05/17/2011	    	Broadview Networks, Inc.	    	System and method for providing a temporary subscriber identity to a roaming mobile communications device
					
	 Canada
	    	2515326	    	10/12/2010	    	Broadview Networks, Inc.	    	Method, system and apparatus for call path reconfiguration
					
	 Canada 
	    	2349125	    	06/28/2005	    	Broadview Networks, Inc.	    	Method and apparatus for effecting telecommunications service features using call control information extracted from a bearer channel in a telecommunications
network
					
	 Canada 
	    	2300653	    	09/09/2003	    	Broadview Networks, Inc.	    	Enhanced application telephone network
					
	 Canada
	    	2270601	    	05/28/2002	    	Broadview Networks, Inc.	    	Method and system for using TCAP signaling for improved call setup from a virtual switching point
					
	 Canada 
	    	2225937	    	12/04/2001	    	Broadview Networks, Inc.	    	Method and system for completing a voice connection between first and second voice terminals in a switched telephone network
					
	 Canada
	    	2216620	    	06/25/2002	    	Broadview Networks, Inc.	    	Method and apparatus for dynamically routing calls in an intelligent network
					
	 Europe
	    	EP1018271	    	01/09/2004	    	Broadview Networks, Inc.	    	Method and Apparatus for Dynamically Routing Calls in an Intelligent Network
					
	 Great Britain
	    	GB2464247	    	04/14/2010	    	Broadview Networks, Inc.	    	Method and system for dynamic call anchoring
					
	 Mexico
	    	MX217558	    		    	Broadview Networks, Inc.	    	Method and System for Improved Call Setup
					
	 Mexico
	    	MX218335	    		    	Broadview Networks, Inc.	    	Method and Apparatus for Dynamically Routing Calls in an Intelligent Network

  
 Sch-8

									
	 Mexico
	  	MX220616	  		  	Broadview Networks, Inc.	  	Method and System for Completing a Voice Connection Between First and Second Voice Terminals in a Switched Telephone Network
					
	 International
	  	WO/1999/016256	  	04/01/1999	  	Broadview Networks, Inc.	  	Method and Apparatus for Dynamically Routing Calls in an Intelligent Network

 4. The listing of Patent (as defined in the Collateral Agreement) applications should include: (a)
Country; (b) Application Number (c) Filing Date; (d) Owner; and (e) Description 
  

									
	 Country
	  	 App No.
	  	 Filing Date
	  	 Owner
	  	 Description

	 US
	  	11/461,649	  	08/01/2006	  	Broadview Networks, Inc.	  	Method and system for directed call establishment to facilitate the provision of enhanced communications services
					
	 US
	  	11/424,930	  	06/19/2006	  	Broadview Networks, Inc.	  	METHOD AND SYSTEM FOR A COMMUNICATIONS SESSION JOIN FUNCTION TO FACILITATE THE PROVISION OF ENHANCED COMMUNICATIONS SERVICES
					
	 US
	  	11/833,332	  	08/03/2007	  	Broadview Networks, Inc.	  	METHOD AND SYSTEM FOR DYNAMIC CALL ANCHORING
					
	 US
	  	12/305,763	  	01/08/2008	  	Broadview Networks, Inc.	  	METHOD AND SYSTEM FOR MEDIATED CODEC NEGOTIATION
					
	 Canada
	  	2674098	  	12/28/2007	  	Broadview Networks, Inc.	  	Method and system for network address translation (NAT) traversal of real time protocol (RTP) media
					
	 Canada
	  	2594944	  	07/25/2007	  	Broadview Networks, Inc.	  	Method and system for directed call establishment to facilitate the provision of enhanced communications services
					
	 Canada
	  	2561013	  	03/23/2005	  	Broadview Networks, Inc.	  	Method and apparatus for subscriber control of an inbound call
					
	 Europe
	  	EP2116007	  	12/28/2007	  	Broadview Networks, Inc.	  	Method and system for network address translation (NAT) traversal of real time protocol (RTP) media
					
	 Europe
	  	EP2052567	  	07/25/2007	  	Broadview Networks, Inc.	  	Method and System for Directed Call Establishment to Facilitate the Provision of Enhanced Communications Services
					
	 Europe
	  	EP1730941	  	03/23/2005	  	Broadview Networks, Inc.	  	Method and System for Subscriber Control of an Inbound Call
					
	 Europe
	  	EP1703760	  	03/14/2006	  	Broadview Networks, Inc.	  	Method and System for Providing a Temporary Subscriber Identity to a Roaming Mobile Communications Device

  
 Sch-9

									
					
	 Great Britain
	  	1018271 UK	  		  	Broadview Networks, Inc.	  	Method and Apparatus for Dynamically Routing Calls in an Intelligent Network

 5. The listing of Patent Licenses (as defined in the Collateral Agreement) should include: (a) Name
and Address of Licensee/Licensor; (b) Date; (c) List of each Patent Licensed/Assigned; and (d) Description of product to which license/assignment applies 
 None 
 6. The listing of Copyrights (as defined in the Collateral Agreement)
should include: (a) Registration Number; (b) Registration Date; (c) Title as listed in Registration; and d) Copyright Registrant. 
  

					
	 a) TX7551257
	  	b) 06/13/2012	  	c) OfficeSuite Quick Reference Guide 24 Key IP Phone d) Broadview Networks, Inc
			
	 a) TX7551238
	  	b) 06/13/2012	  	c) OfficeSuite Quick Reference Guide 5220 IP Phone d) Broadview Networks, Inc
			
	 a) TX7551164
	  	b) 06/12/2012	  	c) OfficeSuite Installation Guide d) Broadview Networks, Inc
			
	 a) TX7550213
	  	b) 06/11/2012	  	c) How Employees and Support Staff Can Quickly and Easily Manage Their Cloud-Based Phone Solution d) Broadview Networks, Inc
			
	 a) TX7549496
	  	b) 06/09/2012	  	c) OfficeSuite Best Practices Guide d) Broadview Networks, Inc
			
	 a) TX7545401
	  	b) 05/15/2012	  	c) OfficeSuite USB Phone Quick Start Guide d) Broadview Networks, Inc
			
	 a) TX7542693
	  	b) 05/18/2012	  	c) OfficeSuite ACD Tenant Administrator Reference Guide d) Broadview Networks, Inc
			
	 a) TX7542628
	  	b) 05/18/2012	  	c) 5 Considerations When Picking a Cloud-Based Phone Provider d) Broadview Networks, Inc
			
	 a) TX7540885
	  	b) 05/14/2012	  	c) OfficeSuite Softphone Quick Start Guide d) Broadview Networks, Inc
			
	 a) TX7538746
	  	b) 05/04/2012	  	c) OfficeSuite Quick Reference Guide 5304 IP Phone d) Broadview Networks, Inc
			
	 a) TX7538551
	  	b) 05/04/2012	  	c) OfficeSuite Quick Reference Guide 5340 IP Phone d) Broadview Networks, Inc
			
	 a) TX7533561
	  	b) 04/19/2012	  	c) Broadview FrontLine E-mail Security d) Broadview Networks, Inc
			
	 a) TX7533133
	  	b) 04/19/2012	  	c) OfficeSuite Quick Start Guide for Users d) Broadview Networks, Inc

  
 Sch-10

					
	 a) TX7532906
	  	b) 04/18/2012	  	c) OfficeSuite Administrator Quick Reference Guide d) Broadview Networks, Inc
			
	 a) TX7532616
	  	b) 04/17/2012	  	c) OfficeSuite Quick Reference Guide d) Broadview Networks, Inc
			
	 a) TX7532532
	  	b) 04/17/2012	  	c) OfficeSuite Administrator Reference Guide d) Broadview Networks, Inc
			
	 a) TX7532174
	  	b) 04/16/2012	  	c) 6 Ways to Immediately Improve Your Customer Experience d) Broadview Networks, Inc
			
	 a) TX7503485
	  	b) 02/08/2012	  	c) OFFICESUITE Website d) Broadview Networks, Inc
			
	 a) TX7502047
	  	b) 02/08/2012	  	c) Master Website d) Broadview Networks, Inc
			
	 a) TX7558409
	  	b) 05/19/2012	  	c) Improving Your Business Operations with a Cloud-Based Hosted Phone System
	d) Broadview Networks, Inc.
			
	 a) TX7559006
	  	b) 07/02/2012	  	c) Broadview FrontLine Managed Firewall d) Broadview Networks, Inc.
			
	 a) TX7559026
	  	b) 07/02/20112	  	c) Broadview Frontline d) Broadview Networks, Inc.
			
	 a) TX3509284
	  	b) 03/12/1993	  	c) ATX Telecommunications Services 3/1993 general marketing brochure d) ATX
	Telecommunications Services of Virginia, LLC

 7. The listing of Copyright Licenses (as defined in the Collateral Agreement) should include:
(a) Name and Address of Licensee/Licensor; (b) Date; (c) Work Licensed or Assigned. 
 None 

  
 Sch-11

 Schedule 3.13 
 Investment Property and Partnership/LLC Interests 
 Schedule 3.13(a) — Securities
Accounts (including cash management accounts that are Investment Property) and Uncertificated Securities: 
  

											
	 Entity / Grantor
	 	Type of
Account	 	Name	 	Address	 	Account
Number	 	Account Name
	Broadview Networks, Inc.	 	Securities
account	 	UBS Financial
Services Inc.	 	709 Westchester
Avenue, 4th floor
White Plains, NY
10604	 	WP 31503 24	 	Pledged Account

 Schedule 3.13(b) — Certificated Securities: 

 

					
	 Name
	  	 Shares Issued
	  	 Owner

			
	 BV-BC Acquisition Corporation
	  	100 shares	  	Broadview Networks Holdings, Inc.
			
	 Broadview NP Acquisition Corp.
	  	1,000 shares	  	Broadview Networks Holdings, Inc.
			
	 Broadview Networks, Inc.
	  	1,000 shares	  	Broadview Networks Holdings, Inc.
			
	 BridgeCom Holdings, Inc.
	  	1,190,000 shares	  	BV-BC Acquisition Corporation
			
	 BridgeCom International, Inc.
	  	1,000 shares	  	BridgeCom Holdings, Inc.
			
	 TruCom Corporation
	  	8,000,000 shares	  	BridgeCom Holdings, Inc.
			
	 BridgeCom Solutions Group, Inc.
	  	1,000 shares	  	BridgeCom International, Inc.
			
	 Broadview Networks of Massachusetts, Inc.
	  	100 shares	  	Broadview Networks, Inc.
			
	 Broadview Networks of Virginia, Inc.
	  	5,000 shares	  	Broadview Networks, Inc.
			
	 Digicom, Inc.
	  	750 shares	  	CoreComm Communications, LLC
			
	 CoreComm-ATX, Inc.
	  	1,500 shares	  	CoreComm Communications, LLC
			
	 ATX Licensing, Inc.
	  	1,000 shares	  	CoreComm-ATX, Inc.
			
	 A.R.C. Networks, Inc.
	  	200 shares	  	InfoHighway Communications Corporation
			
	 Eureka Broadband Corporation
	  	1,000 shares	  	Broadview Networks Holdings, Inc.
			
	 Eureka Telecom, Inc.
	  	100 shares	  	Eureka Holdings, LLC

  
 Sch-12

					
	 Name
	  	 Shares Issued
	  	 Owner

			
	 Eureka Telecom of VA, Inc.
	  	100 shares	  	Eureka Holdings, LLC
			
	 InfoHighway Communications Corporation
	  	1,000 shares	  	Eureka Holdings, LLC
			
	 InfoHighway of Virginia, Inc.
	  	5,000 shares	  	InfoHighway Communications Corporation
			
	 ATX Communications, Inc.
	  	972,500 shares	  	Broadview Networks Holdings, Inc.
			
	 Eureka Holdings, LLC
	  	100 units	  	Eureka Broadband Corporation
			
	 Eureka Networks, LLC
	  	100 units	  	Eureka Holdings, LLC
			
	 Info-Highway International, Inc.
	  	4,923,461 shares	  	InfoHighway Communications Corporation
			
	 ARC Networks, Inc.
	  	9,530,760 shares	  	InfoHighway Communications Corporation
			
	 nex-i.com inc.
	  	100 shares	  	InfoHighway Communications Corporation

 Schedule 3.13(c) — Uncertificated Partnership/LLC Interests: 

ATX Telecommunications Services of Virginia, LLC 
 CoreComm Communications, LLC 
 Open Support Systems LLC 

  
 Sch-13

 Schedule 3.14 
 Instruments 
 None. 

  
 Sch-14

 Schedule 3.15 
 Farm Products 
 None. 

  
 Sch-15

 Schedule 3.16 
 Government Contracts 
  

									
	 Company
	  	AGENCY	 	Contract Name	  	Contract #	  	Term
	 Infohighway / Broadview
	  	New York Office of General
 Services

(OGS)
	 	Comprenhenive
Telecommunications
Services	  	PS63100
Group 77017
Award 20268	  	Sept. 2017 
	 SUNY Downstate Medical
	  		 		  		  	
	 Lower Eastside Service
	  		 		  		  	
	 Eastport S Manor Central Jr Srs
	  		 		  		  	
	 Queens College
	  		 		  		  	
	 College Of New Rochelle
	  		 		  		  	
	 Brookhaven Memorial Hospital
	  		 		  		  	
	 City Of Long Beach
	  		 		  		  	
	 Huntington UFSD
	  		 		  		  	
	 The Center for Family Support
	  		 		  		  	
	 NYSED/VESID
	  		 		  		  	
	 Town of Greenburgh
	  		 		  		  	
	 Corp. for Supportive Housing
	  		 		  		  	
	 NYC Transit
	  		 		  		  	
	 Patchogue Medford Library
	  		 		  		  	
	 United Cerebral Palsy
	  		 		  		  	
	 Queens Health Network - Elmhurst Hospital Ctr
	  		 		  		  	
	 Queens Health Network - Queens Hospital Center
	  		 		  		  	
	 North Patchogue Fire Dept
	  		 		  		  	
	 Jewish Institute of Queens
	  		 		  		  	
	 The General Theological Seminary
	  		 		  		  	

  
 Sch-16

	
	 Services for the Underserved

	 Morningside Retirement & Health Services

	 NY Foundling Hosp

	 WNET.Org

	 Connetquot School District

	 NYC Montessouri Charter

	 Dr Richard Izquierdo Charter School

	 Fort Greene Council

  

									
	 Broadview Networks
	  	General Services Administration	  	GSA	  	GS 35F0348x	  	Nov. 2016
	 Customers:
	  	(GSA) Federal / State / Local Gov.	  		  		  	
	 City of Camden Housing Authoruty
	  		  		  		  	

  

													
	 Broadview Networks
	  	NJEDge / NJIT	  	Voice TDM services	  	 	RFP - 12-71	  	  	 	Oct. 2015	  
		  		  		  				  	 
 	renewal
2017	  
  
	Customer Name	  	Billing Address	  	Customer ID	  				  			
	 Atlantic County Community College
	  	5100 Black Horse Pke, Mays	  	100220972	  				  			
		  	Landing NJ 08330	  		  				  			
	 Bergen Community College
	  	400 Paramus Rd, Room B110	  	100226091	  				  			
		  	Room B110, Paramus NJ 07652	  		  				  			
	 Bergen Community College-L
	  	400 Paramus Rd, Room A222	  	1083944504	  				  			
		  	Room A222, Paramus NJ 07652	  		  				  			
	 Burlington County College
	  	1 High St, Mount Holly NJ 08060	  	1244789135	  				  			
	 Burlington County College
	  	601 Pemberton Browns Mills Rd,	  	100220877	  				  			
		  	PEMBERTON NJ 08068	  		  				  			
	 County College of Morris
	  	214 Center Grove Rd, randolph NJ	  	100221168	  				  			
		  	07869	  		  				  			
	 Cumberland County College
	  	3322 College Dr, Vineland NJ	  	721897859	  				  			
		  	08362	  		  				  			
	 Essex County College
	  	303 University Av Info. Tech,	  	100222274	  				  			
		  	Newark NJ 07102	  		  				  			

  
 Sch-17

									
	 Georgian Court University
	  	900 Lakewood Av, Lakewood NJ	  	100220981	  		  	
		  	08701	  		  		  	
	 Mercer County Comm College
	  	PO Box B, Trenton NJ 08690	  	352202394	  		  	
	 Middlesex County College
	  	2600 Woodbridge Av, JLC 209 JLC	  	100222709	  		  	
		  	209, Edison NJ 08818	  		  		  	
	 New Jersey Institute of Technology
	  	322 Martin Luther King Jr Blvd	  	100226689	  		  	
		  	Telecom — 105 Cullimore Hall,	  		  		  	
		  	Newark NJ 07102	  		  		  	
	 Ocean County College
	  	PO BOX 2001 College Dr, Toms	  	100217659	  		  	
		  	River NJ 08754	  		  		  	
	 Passaic County Community College
	  	1 College Blvd, FL 4 FL 4,	  	100222214	  		  	
		  	Paterson NJ 07505	  		  		  	
	 Passaic Valley Regional High School #1
	  	100 E Main St, Little Falls NJ	  	100219982	  		  	
		  	07424	  		  		  	
	 Rutgers State University of New Jersey
	  	409 North 4th Street, Camden NJ	  	1244783978	  		  	
		  	08102	  		  		  	
	 Warren County Community College
	  	475 Route 57 W, Washington NJ	  	1244791751	  		  	
		  	07882	  		  		  	
	 Montclair University
	  	1 Normal Ave Montclair, NJ 07043	  	1244798122	  		  	

  

											
		  	New York Office of General	  		  		  			
	 ARC Networks
	  	Services	  	Comprenhenive	  	PT64466	  	 	May-20	  
					
		  	(OGS)	  	Telecommunications	  	Group 77018	  			
					
		  		  	Services Equipment	  	Award 21350	  			
		  		  	and Solutions	  		  			

  

									
					
	 ARC Networks
	  	General Services Administration	  	GSA	  	# GS-35F-005X	  	Dec. 2015
		  	(GSA) Federal / State / Local Gov.	  		  		  	

  
 Sch-18

													
	 ARC Networks
	  	Roosevelt Schools	  	 	Roosevelt S.D. -	  	  	Contract #
2207.50	 	 	pending	  
		  		  				  	completion	  

  

					
	 Broadview Networks (RFP team)
	  	 RFP/Bid#
	  	 Term

	 The Columbia Association
	  	12-77	  	Jun-15
	 City of Allentown
	  	2010-60	  	Jul-13
	 Harford Community College
	  	11P-005	  	Jul-14
	 Mercer County Technical Schools
	  	1011-02	  	Nov-13
	 City of Reading, PA
	  	3002-11	  	Oct-14
	 First National Bank of Ipswitch
	  	3/8/10	  	Jan-14
	 Hoboken Housing Authority
	  	2/11/10	  	Aug-14
	 Survey Technology and Research
	  	1/26/10	  	Aug-13
	 Town of Greenwich
	  	6690	  	Jun-13
	 Franklin Township (NJ)
	  	B10-27GS	  	Aug-14
	 St. Joseph’s University
	  	12/1/09	  	Jun-13
	 Franklin Mint, The
	  	11/9/09	  	Nov-13
	 City of Philadelphia
	  	S0Z55950	  	Sep-12
	 Genesis Healthcare
	  	MPLS, Internet	  	Aug-15
	 Council Rock School District
	  	Basic and Advanced Telecommunications Services	  	Mar-13

  
 Sch-19

					
	 Jersey City Housing Authority
	  	PRIs,MPLS,DIA, POTs	  	Aug-14
	 Lafayette College
	  	PRIs,LD,POTs	  	Mar-13
	 Montgomery County Community College
	  	PRIs, POTs	  	Nov-12
	 The PA School for the Deaf
	  	PRIs,DIA,POTs	  	Jan-13

  
 Sch-20

 Schedule 3.17 
 Letter of Credit Rights 
 None. 

  
 Sch-21EX-10.8

 Exhibit 10.8 
 INTERCREDITOR AGREEMENT 
 INTERCREDITOR AGREEMENT, dated as of
November 13, 2012, among CIT FINANCE LLC, a Delaware limited liability company, as Administrative Agent (and together with its successors and assigns, in such capacity, the “Administrative Agent” or the “First
Priority Agent”), THE BANK OF NEW YORK MELLON, as Trustee, Collateral Agent and Second Priority Agent (and together with its successors and assigns, in such capacities, the “Trustee” or the “Second
Priority Agent”), and acknowledged by Broadview Networks Holdings, Inc., a Delaware corporation (the “Company”) and its Subsidiaries (such term and each other capitalized term used herein having the meanings set
forth in Section 1) listed on the signature pages hereto (such Subsidiaries, together with the Company and each of its other Subsidiaries that become parties hereto, the “Grantors”). 

WITNESSETH 

WHEREAS, the Company and certain other Grantors, certain lenders and the Administrative Agent are parties to the Credit Agreement;

 WHEREAS, the Obligations of the Company and the other Grantors under the Credit Agreement (including guarantees in respect
thereof) will be secured (together with certain other obligations) by various assets of the Company and such other Grantors; 

WHEREAS, the Company and the other Grantors and the Trustee have entered into the Indenture, pursuant to which the Company will issue the
Notes; and 
 WHEREAS, it is a condition precedent to the effectiveness of each of the Credit Agreement and the issuance of the
Notes that the parties hereto enter into this Agreement; 
 NOW, THEREFORE, in consideration of the foregoing, the mutual
covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

SECTION 1. Definitions 
 (a) Certain Definitions. As used in this Agreement, the following terms have the meanings specified below: 
 “Administrative Agent” has the meaning set forth in the preamble. 
 “Agreement” means this Agreement, as amended, renewed, extended, supplemented or otherwise modified from time to time in accordance with the terms hereof. 

“Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of
debtors. 
 “Business Day” means any day other than a Saturday, a Sunday or a day that is a legal
holiday under the laws of the State of New York or on which banking institutions in the State of New York are required or authorized by law or other governmental action to close. 

“Capital Stock” means “Capital Stock”, as defined in the Indenture or the Credit Agreement. 

“Cash Management Obligations” means, with respect to any Person, all obligations of such Person in respect of
overdrafts and related liabilities owed to any other Person that arise from treasury, depositary or cash management services, including in connection with any automated clearing house transfers of funds, or any similar transactions. 

 
 INTERCREDITOR AGREEMENT
BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

 “Common Collateral” means all of the assets of any Grantor, whether
now owned or hereafter existing and whether real, personal or mixed, with respect to which a Lien is granted or held as security for both the First Priority Claims and the Second Priority Claims. 

“Company”’ has the meaning set forth in the preamble. 

“Credit Agreement” means the Credit Agreement dated as of the date hereof, as such agreement may be amended
(including any amendment and restatement thereof), supplemented, replaced, or otherwise modified from time to time in accordance with Section 5.3, including any Refinancing, of all or any portion of the Indebtedness under such agreement
or any successor or replacement agreement and whether by the same or any other Person. 
 “DIP
Financing” has the meaning set forth in Section 6.1. 
 “Discharge of First Priority
Claims” means the payment in full in cash of (a) the principal of and interest (including interest accruing on or after commencement of an Insolvency or Liquidation Proceeding whether or not such interest is allowed in such Insolvency
or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Priority Documents and, with respect to letters of credit outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect
thereof in compliance with the applicable First Priority Documents (not to exceed more than 105% of the stated amount of any outstanding letter of credit), in each case after or concurrently with termination of all commitments to extend credit
thereunder and (b) any other First Priority Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid, including termination and payment in full by wire transfer of all Hedging
Obligations (other than indemnification Obligations for which no claim or demand for payment, whether oral or written, has been made at such time). 
 “Discharge of Second Priority Claims” means the payment in full in cash of (a) the principal of and interest (including interest accruing on or after commencement of an Insolvency
or Liquidation Proceeding whether or not such interest is allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the Second Priority Documents and (b) any other Second Priority Claims
that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid (other than indemnification Obligations for which no claim or demand for payment, whether oral or written, has been made at such
time). 
 “Excess First Priority Claims” means (i) the principal amount of all First Priority
Claims in excess of the First Priority Debt Cap, plus any interest thereon, and, without duplication, (ii) any Excess First Priority Interest. 
 “Excess First Priority Interest” means that portion of interest accrued or accruing on the principal amount of First Priority Claims, at a rate of interest in excess of the maximum
rate of interest at which interest on such First Priority Claims is permitted to accrue under the First Priority Debt Cap. 

“Excess Second Priority Claims” means (i) the principal amount of all Second Priority Claims in excess of
the Second Priority Debt Cap, plus any interest thereon, and, without duplication, (ii) any Excess Second Priority Interest. 
 “Excess Second Priority Interest” means that portion of interest accrued or accruing on the principal amount of Second Priority Claims, at a rate of interest in excess of the
maximum rate of interest at which interest on such Second Priority Claims is permitted to accrue under the Second Priority Debt Cap. 
 “First Priority Agent” has the meaning set forth in the preamble. 
 “First Priority Avoidance Actions” means all claims and causes of action under the Bankruptcy Code, and all related recoveries, that are or become property of the Company or any
Grantor (including pursuant to Section 
  

INTERCREDITOR AGREEMENT BETWEEN CIT FINANCE LLC
AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
 2 

 
8.2 of the Joint Prepackaged plan of Reorganization for Broadview Networks Holdings, Inc. and its Affiliated Debtors, dated August 22, 2012, as confirmed on October 3, 2012), to the
extent that such claims, causes of action or recoveries arise from, relate to or are the type of property described herein as First Priority Collateral. 
 “First Priority Cash Management Obligations” means any Cash Management Obligations secured by any Common Collateral under the same First Priority Collateral Documents that secure
Obligations under the Credit Agreement. 
 “First Priority Claim Recovery” has the meaning set forth in
Section 6.5(a). 
 “First Priority Claims” means all Obligations of the Company or any other
Grantor under the First Priority Documents, including all First Priority Hedging Obligations and First Priority Cash Management Obligations. First Priority Claims shall include all interest accrued or accruing (or which would, absent the
commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the relevant First Priority Document whether or not the claim for such
interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the First Priority Claims (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of set-off or
otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be or is paid to a debtor in possession, trustee, receiver or other Person, then the obligation or part thereof originally intended to be satisfied
shall be deemed to be reinstated and outstanding for purposes of this agreement as if such payment had not occurred. 

“First Priority Collateral” means all of the assets of any Grantor, whether now owned or hereafter existing and
whether personal or mixed, with respect to which a Lien is granted or held as security for the First Priority Claims consisting of (i) accounts, (ii) inventory, (iii) deposit accounts and all cash, checks and other instruments on deposit
therein or credited thereto, (iv) securities accounts and all investment property on deposit therein or credited thereto, (v) lock boxes and (vi) Capital Stock of each Subsidiary of such Grantor, (vii) First Priority Avoidance
Actions, and (viii) contract rights, instruments, documents, chattel paper (whether tangible or electronic), drafts and acceptances, general intangibles and all other forms of obligations owing to such Grantor, in each case arising out of or
relating to the sale, lease or other disposition of inventory or the rendition of services, and all guarantees and other security therefore (other than, for the avoidance of doubt, any assets consisting of the First Priority Excluded Collateral).

 “First Priority Collateral Documents” means any agreement, document or instrument pursuant to which a
Lien is granted securing any First Priority Claims or under which rights or remedies with respect to such Liens are governed. 

“First Priority Debt Cap” means the sum of (a) the aggregate principal amount of First Priority Claims (including
the undrawn or unreimbursed amount of all letters of credit constituting First Priority Claims but excluding First Priority Hedging Obligations constituting First Priority Claims) up to the sum of (i) Twenty Eight Million Seven Hundred Fifty
Thousand Dollars ($28,750,000) plus (ii) up to Eleven Million Five Hundred Thousand Dollars ($11,500,000) of additional loans or advances made pursuant to the Credit Agreement; plus (b) the amount of all Protective Advances
up to $2,500,000; plus (e) 80% of all Eligible Receivables (as defined in the Credit Agreement) acquired in connection with any acquisition by any Grantor of the assets of a Person that is not a Grantor; plus
(d) the amount of any outstanding First Priority Cash Management Obligations and First Priority Hedging Obligations; plus (e) amounts in respect of accrued, unpaid interest (accrued at a rate not to exceed two hundred
(200) basis points in excess of the rates contemplated by the Credit Agreement as of the date hereof), fees and expenses attributable to the items described in clauses (a) through (d) above. 

“First Priority Documents” means the Credit Agreement, the First Priority Collateral Documents, and each of the
other agreements, documents and instruments (including each agreement, document or instrument providing for or evidencing a First Priority Hedging Obligation or First Priority Cash Management Obligation) providing for or evidencing any Obligation
under the Credit Agreement or any other First Priority Claim, and any other related document or instrument executed or delivered pursuant to any First Priority Document at any time or otherwise evidencing any First Priority Claims. 

 
 INTERCREDITOR AGREEMENT
BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 3 

 “First Priority Excluded Collateral” has the meaning set forth in
Section 2.3. 
 “First Priority Hedging Obligations” means any Hedging Obligations that are
permitted to be incurred under clause (4) of the definition of the term “Permitted Indebtedness” (as defined in the Indenture as in effect on the date hereof) and that are secured by any First Priority Collateral under the same First
Priority Collateral Documents that secure Obligations under the other First Priority Claims. 
 “First Priority
Lenders” means the Persons holding First Priority Claims, including the First Priority Agent. 
 “First
Priority Liens” means all Liens that secure First Priority Claims 
 “Grantors” has the
meaning set forth in the preamble. 
 “Hedging Obligations” means, with respect to any Person,
the obligations of such Person that are incurred in the ordinary course of business (and not for speculative purposes) in respect of (a) interest rate or currency swap agreements, interest rate or currency cap agreements, interest rate or
currency collar agreements, or (b) other agreements or arrangements designed to protect such Person against fluctuations in interest rates and/or currency exchange rates. 
 “Indebtedness” means, and includes all Obligations that constitute “Indebtedness” within the meaning of the Indenture or the Credit Agreement. 

“Indenture” means the Indenture, dated as of the date hereof, as such agreement may be amended (including any
amendment and restatement thereof), supplemented or otherwise modified from time to time in accordance with the terms of Section 5.3 hereof, including any Refinancing of all or any portion of the Indebtedness under such agreement or any
successor or replacement agreement and whether by the same or any other Person. 
 “Insolvency or Liquidation
Proceeding” means (a) any voluntary or involuntary case or proceeding under any Bankruptcy Law with respect to any Grantor, (b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or
any receivership, liquidation, reorganization or other similar case or proceeding with respect to any Grantor or with respect to any of their respective assets, (c) any liquidation, dissolution, reorganization or winding up of any Grantor
whether voluntary or involuntary and whether or not involving insolvency or bankruptcy or (d) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 

“Lien” means any lien, mortgage, deed of trust, pledge, security interest, charge or encumbrance of any kind
(including any conditional sale or other title retention agreement, any lease in the nature thereof and any agreement to give any security interest). 
 “Noteholders” means the Persons holding Notes from time to time. 
 “Notes” means (a) the 10-1/2% Senior Secured Notes due 2017 issued by the Company, and (b) any additional notes issued under the Indenture by the Company, to the extent
permitted by the Indenture and the First Priority Documents. 
 “Obligations” means any and all
obligations with respect to the payment of (a) any principal of or interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not a claim for post-filing interest is allowed in
such Insolvency or Liquidation Proceeding) or premium on any Indebtedness, including any reimbursement obligation in respect of any letter of credit, (b) any fees, indemnification obligations, damages, expense reimbursement obligations or other
liabilities payable under the documentation governing any Indebtedness, (c) any obligation to post cash collateral in respect of letters of credit and any other obligations or (d) any Cash Management Obligations or Hedging Obligations.

  
 INTERCREDITOR
AGREEMENT BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK
MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 4 

 “Permitted Action” means any of the following: (a) file a
claim, proof of claim or statement of interest with respect to the First Priority Claims or Second Priority Claims, as applicable, and subject to the limitations contained in this Agreement, in any Insolvency or Liquidation Proceeding of the Company
or any other Grantor, (b) file any necessary responsive or defensive pleadings (including any compulsory counterclaims) in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise
seeking the disallowance of the First Priority Claims or the Second Priority Claims, as applicable, in each case in accordance with the terms of this Agreement, (c) take any action necessary to prevent the running of any applicable statute of
limitations or similar restrictions on claims, (d) file any pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of the Company or any other Grantor arising in any Insolvency and
Liquidation Proceeding or under any applicable non-bankruptcy law or regulation, in each ease, not inconsistent with the terms of this Agreement, (e) take any action to seek and obtain specific performance or injunctive relief to compel the
Company or any other Grantor to comply with (or not violate or breach) any obligation under the First Priority Documents or the Second Priority Documents, as applicable, so long as such action is not accompanied by a claim for monetary damages other
than reimbursement for any expenditures made to satisfy such obligations or in connection with such litigation, (f) vote on any plan of reorganization or make any other filings or motions that are, in each case, not prohibited by the terms of
this Agreement, (g) accelerate any portion of the First Priority Claims or the Second Priority Claims, as applicable, (h) engage consultants, valuation firms and investment bankers, and perform or engage third parties to perform audits,
examinations and appraisals and otherwise prepare for, or commence marketing activities for, for the foreclosure, sale or other disposition of the Common Collateral for the sole purpose of valuing such collateral and not for the purpose of marketing
or conducting a sale or disposition of such collateral, and (i) take any action in order to preserve or protect their Lien on the First Priority Collateral and the Second Priority Collateral. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association,
company, partnership, entity or other party, including any government and any political subdivision, agency or instrumentality thereof. 
 “Pledged Collateral” means any Common Collateral the possession of which or the control thereof is necessary to perfect or improve the priority of a Lien thereon under the Uniform
Commercial Code. 
 “Processing and Sale Period” has the meaning set forth in
Section 3.2(f). 
 “Protective Advances” has the meaning set forth in the Credit Agreement
as in effect on the date hereof. 
 “Purchase Notice” has the meaning set forth in
Section 8.18(a). 
 “Purchase Price” has the meaning set forth in
Section 8.18(c). 
 “Refinance” means, in respect of any indebtedness, to refinance, extend,
renew, defease, supplement, restructure, replace, refund or repay, or to issue other indebtedness in exchange or replacement for such indebtedness, in whole or in part, whether with the same or different lenders, arrangers or agents.
“Refinanced” and “Refinancing” shall have correlative meanings to the term “Refinance”. 

“Required First Priority Lenders” means, with respect to any amendment or modification of a First Priority
Document, or any termination or waiver of any provision of a First Priority Document, or any consent or departure by the Company or any of the Subsidiaries therefrom, those First Priority Lenders the approval of which is required to approve such
amendment or modification, termination or waiver or consent or departure. 
 “Required Second Priority
Lenders” means, with respect to any amendment or modification of a Second Priority Document, or any termination or waiver of any provision of a Second Priority Document, or any consent or departure by the Company or any of the
Subsidiaries therefrom, those Second Priority Lenders the approval of which is required to approve such amendment or modification, termination or waiver or consent or departure. 

“Second Priority Agent” has the meaning set forth in the preamble. 

 
 INTERCREDITOR AGREEMENT
BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 5 

 “Second Priority Avoidance Actions” means all claims and causes of
action under the Bankruptcy Code, and all related recoveries, that are or become property of the Company or any Grantor (including pursuant to Section 8.2 of the Joint Prepackaged Plan of Reorganization for Broadview Networks Holdings, Inc. and
its Affiliated Debtors, dated August 22, 2012, as confirmed on October 3, 2012), to the extent that such claims, causes of action or recoveries arise from, relate to or are the type of property described herein as Second Priority
Collateral. 
 “Second Priority Claim Recovery” has the meaning set forth in Section 6.5(b).

 “Second Priority Claims” means all Obligations in respect of the Notes or arising under the
Second Priority Documents or any of them. Second Priority Claims shall include all interest accrued (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation
Proceeding in accordance with and at the rate specified in the relevant Second Priority Document whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to
the Second Priority Claims (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be or is paid to a
debtor in possession, trustee, receiver or other Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. 

“Second Priority Collateral” means all of the assets of any Grantor (including Second Priority Avoidance
Actions), whether now owned or hereafter existing and whether real, personal or mixed, with respect to which a Lien is granted or held as security for the Second Priority Claims (other than First Priority Collateral). 

“Second Priority Collateral Documents” means the Second Priority Security Agreement, the Second Priority
Mortgages and any other document or instrument pursuant to which a Lien is granted by any Grantor to secure any Second Priority Claims or under which rights or remedies with respect to any such Lien are governed. 

“Second Priority Debt Cap” means the sum of(a) $150,000,000, plus (b) the principal amount of
any Additional Notes permitted to be incurred under the Indenture as in effect on the date hereof, and (c) in the ease of clauses (a) and (b) above, interest (accrued at a rate not to exceed two hundred (200) basis points in
excess of the rates contemplated by the Indenture as of the date hereof) thereon, minus, in the case of clauses (a) and (b) above, the aggregate amount of principal payments on the Notes (other than payments in connection
with a Refinancing). 
 “Second Priority Documents” means (a) the Indenture, the Notes, the Second
Priority Collateral Documents and each of the other agreements, documents or instruments evidencing or governing any Second Priority Claims and (b) any other related documents or instruments executed and delivered pursuant to any Second
Priority Document described in clause (a) above evidencing or governing any Obligations thereunder. 
 “Second
Priority Excluded Collateral” has the meaning set forth in Section 2.3. 
 “Second Priority
Lenders” means the Persons holding Second Priority Claims, including the Noteholders and the Second Priority Agent. 
 “Second Priority Mortgages” means a collective reference to each mortgage, deed of trust, deed to secure debt and any other document or instrument under which any Lien on real
property owned by any Grantor is granted to secure any Second Priority Claims or under which rights or remedies with respect to any such Liens are governed. 
 “Second Priority Security Agreement” means the Security Agreement, dated as of the date hereof, among the Company, the other Grantors and the Trustee. 

“Subsidiary” means any “Subsidiary” of the Company, as defined in the Indenture or the Credit
Agreement. 
 “Trustee” has the meaning set forth in the preamble. 

 
  
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 “Uniform Commercial Code” and “UCC” mean the
Uniform Commercial Code as from time to time in effect in the State of New York or any other applicable jurisdiction. 
 (b)
Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.
The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to
time amended, supplemented, Refinanced or otherwise modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision here, of, (iv) all references herein to Sections shall be construed to refer to Sections of
this Agreement and (v) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts
and contract rights. 
 SECTION 2. Lien Priorities 

2.1 Subordination 
 (a) Notwithstanding the date, manner or order of grant, attachment or perfection of any Liens granted to the Second Priority Agent or the Second Priority Lenders on the First Priority Collateral or of any
Liens granted to the First Priority Agent or the First Priority Lenders on the First Priority Collateral and notwithstanding any provision of the UCC or any other applicable law or the Second Priority Documents or the First Priority Documents or any
other circumstance whatsoever, the Second Priority Agent, on behalf of itself and the Second Priority Lenders, hereby agrees that: (a) any Lien on the First Priority Collateral now or hereafter held by or on behalf of the First Priority Agent
or any First Priority Lenders or any agent or trustee therefor shall be senior in all respects and prior to any Lien thereon that secures any of the Second Priority Claims; and (b) any Lien on such First Priority Collateral now or hereafter
held by or on behalf of the Second Priority Agent or any Second Priority Lenders or any agent or trustee therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and
subordinate in all respects to all Liens thereon that secures any First Priority Claims. Notwithstanding anything to the contrary in this Section 2.1, if any of the First Priority Claims or the Liens securing the same are voided or
equitably subordinated to the Second Priority Claims or the Liens securing the same by a non-appealable final order of a court of competent jurisdiction based upon an express determination of actual fraud (but not by way of illustration only, a
determination of constructive fraud of the types referred to in section 548(a)(1)(B)(i) and (ii) of the Bankruptcy Code) by the First Priority Agent or any First Priority Lender (and provided that such court order is not entered pursuant to a
legal proceeding brought, or supported, directly or indirectly, by the Second Priority Agent or any Second Priority Lender (and provided further that neither inaction nor required compliance with lawful discovery requirements or court orders shall
constitute impermissible support)), such equitably subordinated or voided First Priority Claims (or the Liens securing the same) shall not, to the extent voided or equitably subordinated, be entitled to the lien subordination and other priorities
pursuant to this Agreement. For the avoidance of doubt, a determination to void or equitably subordinate any First Priority Claims or the Liens securing the same, based on the lapse, inadequacy, or failure to file or improper filing, of any UCC
financing statement, mortgage or other agreement, document or instrument intended to create or perfect a Lien or security interest for any reason, shall not for purposes of this Agreement be deemed actual fraud by the First Priority Agent or any
First Priority Lender. The subordination of Liens securing Second Priority Claims to Liens Securing First Priority Claims affects only the relative priority of those Liens and does not subordinate the Second Priority Claims in right of payment to
the First Priority Claims. Nothing in this Agreement will affect the entitlement of any Second Priority Lender to receive and retain required payments of interest, principal and other amounts in respect of a Second Priority Claim unless payment is
expressly prohibited by or results from the Second Priority Lender’s breach of this Agreement, including as provided in Section 4.2(a) herein. 
 (b) Notwithstanding the date, manner or order of grant, attachment or perfection of any Liens granted to the First Priority Agent or the First Priority Lenders on the Second Priority Collateral or of any

	

  

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AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
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 Liens granted to the Second Priority Agent or the Second Priority Lenders on the Second Priority Collateral
and notwithstanding any provision of the UCC or any other applicable law or the First Priority Documents or the Second Priority Documents or any other circumstance whatsoever, the First Priority Agent, on behalf of itself and the First Priority
Lenders, hereby agrees that: (a) any Lien on the Second Priority Collateral now or hereafter held by or on behalf of the Second Priority Agent or any Second Priority Lenders or any agent or trustee therefor shall be senior in all respects and
prior to any Lien thereon that secures any of the First Priority Claims; and (b) any Lien on such Second Priority Collateral now or hereafter held by or on behalf of the First Priority Agent or any First Priority Lenders or any agent or trustee
therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens thereon that secures any Second Priority Claims. Notwithstanding
anything to the contrary in this Section 2.1, if any of the Second Priority Claims or the Liens securing the same are voided or equitably subordinated to the First Priority Claims or the Liens securing the same by a non-appealable final
order of a court of competent jurisdiction based upon an express determination of actual fraud (but not, by way of illustration only, a determination of constructive fraud of the types referred to in section 548(a)(1)(B)(i) and (ii) of
the Bankruptcy Code) by the Second Priority Agent or any Second Priority Lender (and provided that such court order is not entered pursuant to a legal proceeding brought, or supported, directly or indirectly, by the First Priority Agent or any First
Priority Lender (and provided further that neither inaction nor required compliance with lawful discovery requirements or court orders shall constitute impermissible support)), such equitably subordinated or voided Second Priority Claims (or the
Liens securing the same) shall not, to the extent voided or equitably subordinated, be entitled to the lien subordination and other priorities pursuant to this Agreement. For the avoidance of doubt, a determination to void or equitably subordinate
any Second Priority Claims or the Liens securing the same, based on the lapse, inadequacy, or failure to file or improper filing, of any UCC financing statement, mortgage or other agreement, document or instrument intended to create or
perfect a Lien or security interest for any reason, shall not for purposes of this Agreement be deemed actual fraud by the Second Priority Agent or any Second Priority Lender. The subordination of Liens securing First Priority Claims to Liens
Securing Second Priority Claims affects only the relative priority of those Liens and does not subordinate the First Priority Claims in right of payment to the Second Priority Claims. Nothing in this Agreement will affect the entitlement of any
First Priority Lender to receive and retain required payments of interest, principal and other amounts in respect of a First Priority Claim unless payment is expressly prohibited by or results from the First Priority Lender’s breach of this
Agreement, including as provided in Section 4.2(b) herein. 
 2.2 Prohibition on Contesting Liens 

The Second Priority Agent, for itself and on behalf of each Second Priority Lender, and the First Priority Agent, for itself and on
behalf of each First Priority Lender, agrees that it shall not (and hereby waives any fight to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the priority, validity,
perfection, avoidability, or enforceability of a Lien held by or on behalf of any of the First Priority Lenders in the Common Collateral or by or on behalf of any of the Second Priority Lenders in the Common Collateral, as the case may be;
provided that nothing in this Agreement shall be construed to prevent or impair the rights of (a) the First Priority Agent or any First Priority Lender to enforce this Agreement, including the priority of the Liens securing the First
Priority Claims as provided in Section 2.1(a) or (b) the Second Priority Agent or any Second Priority Lender to enforce this Agreement, including the priority of the Liens securing the Second Priority Claims as provided in
Section 2.1(b). 
 2.3 Excluded Collateral 

The First Priority Agent, on behalf of itself and the First Priority Lenders, and the Second Priority Agent, on behalf of itself and the
Second Priority Lenders, agree that no such creditor shall obtain a Lien on any asset or property of any Grantor unless such other creditors concurrently obtain a Lien thereon or such other creditors waive their rights under this sentence;
provided, that the Second Priority Agent, on behalf of itself and the Second Priority Lenders, acknowledges and agrees that the First Priority Claims may be secured by Liens on Excluded Collateral (as such term is defined in the Indenture as
in effect on the date hereof, the “Second Priority Excluded Collateral”) of the type described in clause (1) of the definition thereof without the Second Priority Claims being secured by such Second Priority Excluded
Collateral and the First Priority Agent, on behalf of itself and the First Priority Lenders, acknowledges and agrees that the Second Priority Claims may be secured by Liens on Excluded Collateral (as such term is defined in the Credit Agreement as
in effect on the date hereof, the “First Priority Excluded Collateral”) of the type described in clause (8) of the definition thereof without the First Priority Claims being secured by such First Priority Excluded
Collateral. 
  
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AGREEMENT BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK
MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
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 SECTION 3. Enforcement 

3.1 Exercise of Remedies in Respect of First Priority Collateral 

(a) So long as the Discharge of First Priority Claims has not occurred, whether or not any Insolvency or Liquidation Proceeding has been
commenced by or against the Company or any other Grantor, (i) the Second Priority Agent and the Second Priority Lenders will not exercise or seek to exercise any rights or remedies (including set-off) with respect to any First Priority
Collateral that secures any Second Priority Claims, institute any action or proceeding with respect to such rights or remedies, including any action of foreclosure, contest, protest or object to any foreclosure proceeding or action brought by the
First Priority Agent or any First Priority Lender commences to exercise any right under any Second Priority Document or any lockbox agreement, control agreement, blocked account agreement, landlord waiver or bailee’s letter or similar agreement
or arrangement to which the Second Priority Agent or any Second Priority Lender is a party, or any other exercise by any such Person, of any rights and remedies relating to the First Priority Collateral under the First Priority Documents or
otherwise, or object to the forbearance by the First Priority Lenders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the First Priority Collateral and (ii) the First
Priority Agent and the First Priority Lenders shall have the exclusive right to enforce rights, exercise remedies (including set-off and the right to credit bid their debt) and make determinations regarding the release, disposition, or restrictions
with respect to the First Priority Collateral without any consultation with or the consent of the Second Priority Agent or any Second Priority Lender; provided, however, that (A) in any Insolvency or Liquidation Proceeding
commenced by or against the Company or any Grantor, the Second Priority Agent may file a claim or statement of interest with respect to the Second Priority Claims, subject to the limitations contained in this Agreement, (B) the Second Priority
Agent may take any action (not adverse to the prior Liens on the First Priority Collateral that secures the Second Priority Claims, or the rights of the First Priority Agent or the First Priority Lenders to exercise remedies in respect thereof) in
order to preserve or protect its Lien on such First Priority Collateral so long as such action is consistent with the terms and limitations on the Second Priority Agent and the Second Priority Lenders imposed by this Agreement (C) the Second
Priority Agent may take any action to foreclose upon any such First Priority Collateral so long as (1) one hundred and twenty (120) days have elapsed from the date that the Trustee shall have given written notice to the First Priority
Agent of the occurrence of an Event of Default under and as defined in the Second Priority Documents, (2) the First Priority Agent is not diligently pursuing in good faith the exercise of its enforcement rights or remedies against such First
Priority Collateral at the end of such 120-day period and (3) the proceeds received by the Second Priority Agent or any Second Priority Lender in connection with such foreclosure action by the Second Priority Agent is applied pursuant to
Section 4.1, and (D) the Second Priority Agent may take any Permitted Action. In exercising rights and remedies with respect to the First Priority Collateral, the First Priority Agent and the First Priority Lenders may enforce the
provisions of the First Priority Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion so long as all proceeds therefrom are applied in accordance with
Section 4.1. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the First Priority Collateral upon foreclosure, to incur reasonable expenses in connection with such sale
or disposition, and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code and under the comparable law of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable
jurisdiction. 
 (b) Except as otherwise provided in this Agreement, the Second Priority Agent, on behalf of itself and the
Second Priority Lenders, agrees that it will not take or receive, directly or indirectly, in cash or other property or by setoff, counterclaim or in any other manner (whether pursuant to any enforcement, collection, execution, levy or foreclosure
proceeding or otherwise), any First Priority Collateral that secures any Second Priority Claims or any proceeds of such First Priority Collateral, in each case in connection with the exercise of any right or remedy (including set-off) with respect
to any such First Priority Collateral (or in respect of any such First Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor), unless and until the Discharge of First Priority Claims
has occurred. Without limiting the generality of the foregoing, unless and until the Discharge of First Priority Claims has occurred, except as provided herein (including 

 
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BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
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 as expressly provided in the proviso to the first sentence of Section 3.1(a) above), the sole
right of the Second Priority Agent and the Second Priority Lenders with respect to such First Priority Collateral is to hold a Lien on such First Priority Collateral pursuant to the Second Priority Documents for the period and to the extent granted
therein and to receive a share of the proceeds thereof, if any, after the Discharge of the First Priority Claims has occurred. 

(c) Subject to the proviso to the first sentence of Section 3.1(a) above and without limiting the effect of other provisions
of this Agreement, (i) the Second Priority Agent, for itself and on behalf of the Second Priority Lenders, agrees that the Second Priority Agent and the Second Priority Lenders will not take any action that would hinder any exercise of remedies
undertaken by the First Priority Agent under the First Priority Documents with respect to the First Priority Collateral, including any sale, lease, exchange, transfer or other disposition of the First Priority Collateral, whether by foreclosure or
otherwise, and (ii) the Second Priority Agent, for itself and on behalf of the Second Priority Lenders, hereby waives any and all rights it or the Second Priority Lenders may have as a junior lien creditor to object to the manner in which the
First Priority Agent or the First Priority Lenders seek to enforce or collect the First Priority Claims or the Liens granted in any First Priority Collateral, regardless of whether any action or failure to act by or on behalf of the First Priority
Agent or First Priority Lenders is adverse to the interest of the Second Priority Lenders. 
 (d) The Second Priority Agent, on
behalf of itself and the Second Priority Lenders, hereby acknowledges and agrees that no covenant, agreement or restriction contained in any Second Priority Document shall be deemed to restrict in any way the rights and remedies of the First
Priority Agent or the First Priority Lenders with respect to the First Priority Collateral as set forth in this Agreement and the First Priority Documents. 
 3.2 Exercise of Remedies in Respect of Second Priority Collateral 
 (a) So
long as the Discharge of Second Priority Claims has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, (i) the First Priority Agent and the First Priority
Lenders will not exercise or seek to exercise any rights or remedies (including set-off) with respect to any Second Priority Collateral that secures any First Priority Claims, institute any action or proceeding with respect to such rights or
remedies including any action of foreclosure, contest, protest or object to any foreclosure proceeding or action brought by the Second Priority Agent or any Second Priority Lender, commence to exercise any right under any First Priority Document or
any lockbox agreement, control agreement, blocked account agreement, landlord waiver or bailee’s letter or similar agreement or arrangement to which the First Priority Agent or any First Priority Lender is a party, or any other exercise by any
such Person, of any rights and remedies relating to the Second Priority Collateral under the Second Priority Documents or otherwise, or object to the forbearance by the Second Priority Lenders from bringing or pursuing any foreclosure proceeding or
action or any other exercise of any rights or remedies relating to the Second Priority Collateral and (ii) the Second Priority Agent and the Second Priority Lenders shall have the exclusive right to enforce rights, exercise remedies (including
set-off and the right to credit bid their debt) and make determinations regarding the release, disposition, or restrictions with respect to the Second Priority Collateral without any consultation with or the consent of the First Priority Agent or
any First Priority Lender; provided, however, that (A) in any Insolvency or Liquidation Proceeding commenced by or against the Company or any Grantor, the First Priority Agent may file a claim or statement of
interest with respect to the First Priority Claims, subject to the limitations contained in this Agreement, (B) the First Priority Agent may take any action (not adverse to the prior Liens on the Second Priority Collateral that secures the
First Priority Claims, or the rights of the Second Priority Agent or the Second Priority Lenders to exercise remedies in respect thereof) in order to preserve or protect its Lien on such Second Priority Collateral so long as such action is
consistent with the terms and limitations on the First Priority Agent and the First Priority Lenders imposed by this Agreement, (C) the First Priority Agent may take any action to foreclose upon any such Second Priority Collateral so long as
(1) one hundred and fifty (150) days have elapsed from the date that the Administrative Agent shall have given written notice to the Second Priority Agent of the occurrence of an Event of Default under and as defined in the First Priority
Documents (and so long as at the time such notice is given an Event of Default under and as defined in the Second Priority Documents shall have occurred and be continuing), (2) the Second Priority Agent is not diligently pursuing in good faith
the exercise of its enforcement rights or remedies against such Second Priority Collateral at the end of such 150-day period and (3) the proceeds received by the First Priority Agent or any First Priority Lender in connection with such
foreclosure action by the First Priority Agent is applied pursuant to Section 
  
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4.1, and (D) the First Priority Agent may take any Permitted Action. In exercising rights and remedies with respect to the Second Priority Collateral, the Second Priority Agent and
the Second Priority Lenders may enforce the provisions of the Second Priority Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion, so long as all proceeds
therefrom are applied in accordance with Section 4.1. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the Second Priority Collateral upon foreclosure, to incur
reasonable expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code and under the comparable law of any applicable jurisdiction and of a secured creditor
under Bankruptcy Laws of any applicable jurisdiction. 
 (b) Except as provided in this Agreement, the First Priority Agent, on
behalf of itself and the First Priority Lenders, agrees that it will not take or receive, directly or indirectly, in cash or other property or by setoff, counterclaim or in any other manner (whether pursuant to any enforcement, collection,
execution, levy or foreclosure proceeding or otherwise), any Second Priority Collateral that secures any First Priority Claims or any proceeds of such Second Priority Collateral, in each case in connection with the exercise of any right or remedy
(including set-off) with respect to any such Second Priority Collateral (or in respect of any such Second Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor), unless and until the
Discharge of Second Priority Claims has occurred. Without limiting the generality of the foregoing, unless and until the Discharge of Second Priority Claims has occurred, except as provided herein (including as expressly provided in the proviso to
the first sentence of Section 3.2(a) above), the sole right of the First Priority Agent and the First Priority Lenders with respect to such Second Priority Collateral is to hold a Lien on such Second Priority Collateral pursuant to the
First Priority Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the Discharge of the Second Priority Claims has occurred. 

(c) Subject to the proviso to the first sentence of Section 3.2(a) above and without limiting the effect of other provisions
of this Agreement, (i) the First Priority Agent, for itself and on behalf of the First Priority Lenders, agrees that the First Priority Agent and the First Priority Lenders will not take any action that would hinder any exercise of remedies
undertaken by Second First Priority Agent under the Second Priority Documents with respect to the Second Priority Collateral, including any sale, lease, exchange, transfer or other disposition of the Second Priority Collateral, whether by
foreclosure or otherwise, and (ii) the First Priority Agent, for itself and on behalf of the First Priority Lenders, hereby waives any and all rights it or the First Priority Lenders may have as a junior lien creditor to object to the manner in
which the Second Priority Agent or the Second Priority Lenders seek to enforce or collect the Second Priority Claims or the Liens granted in any Second Priority Collateral, regardless of whether any action or failure to act by or on behalf of the
Second Priority Agent or Second Priority Lenders is adverse to the interest of the First Priority Lenders. 
 (d) The First
Priority Agent, on behalf of itself and the First Priority Lenders, hereby acknowledges and agrees that no covenant, agreement or restriction contained in any First Priority Document shall be deemed to restrict in any way the rights and remedies of
the Second Priority Agent or the Second Priority Lenders with respect to the Second Priority Collateral as set forth in this Agreement and the Second Priority Documents. 
 (e) If the Second Priority Agent or a purchaser at a foreclosure sale conducted in foreclosure of any Lien held by the Second Priority Agent takes actual possession of any documentation of the Company or
any other Grantor (whether such documentation is in the form of a writing or is stored in any data equipment or data record in the physical possession of the Second Priority Agent or the foreclosure purchaser), then upon request of the First
Priority Agent and reasonable advance notice, the Second Priority Agent or such foreclosure purchaser will permit the First Priority Agent or its representative to inspect and copy such documentation, at the First Priority Agent’s sole cost and
expense, if and to the extent the First Priority Agent certifies to the Second Priority Agent or such foreclosure purchaser, as the case may be, that: 
 (i) such documentation contains or may contain information necessary or appropriate, in the good faith opinion of the First Priority Agent, to the enforcement of the First Priority Agent’s liens upon
any First Priority Collateral; and 
  

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 (ii) the First Priority Agent and the First Priority Lenders are entitled to
receive and use such information as against the Company and its Subsidiaries and their suppliers, customers and contractors and under applicable law and, in doing so, will comply with all obligations imposed by law or contract in respect of the
disclosure or use of such information. 
 (f) The Second Priority Agent hereby consents to allow the First Priority Agent and
its officers, employees and agents (but not any of its transferees) reasonable and non-exclusive access to and use of any real property, equipment and fixtures of any Grantor, for a period not exceeding 90 consecutive calendar days (the
“Processing and Sale Period”), as necessary or reasonably appropriate to remove or sell, in any lawful manner, any First Priority Collateral consisting of inventory, subject to the following conditions and limitations:

 (i) The Processing and Sale Period shall commence on the date the First Priority Agent received notice of an
Event of Default under and as defined in the Indenture and shall terminate on the earliest to occur of (A) the day which is 90 days thereafter, (B) the day on which such First Priority Collateral (other than any such First Priority
Collateral abandoned by the First Priority Agent) has been removed from such real property and (C) the Discharge of the First Priority Claims. 
 (ii) Each of the Second Priority Agent and foreclosure purchaser shall be entitled, as a condition of permitting such access and use, to demand and receive assurances reasonably satisfactory to it that
the access or use requested and all activities incidental thereto: 
 (A) will be permitted, lawful and
enforceable as against the Company and its Subsidiaries and their suppliers, customers and contractors and under applicable law; and 
 (B) will be adequately insured for damage to property and liability to persons, including property and liability insurance for the benefit of the Second Priority Agent and the Second Priority Lenders, at
no cost to the Second Priority Agent or the Second Priority Lenders. 
 (g) The Second Priority Agent and such foreclosure
purchaser (i) shall provide reasonable cooperation, reasonable support and reasonable assistance to the First Priority Agent in connection with the removal and sale of any First Priority Collateral by the First Priority Agent as provided above
and (ii) shall be entitled to receive, from the First Priority Agent, fair compensation and reimbursement for their reasonable costs and expenses incurred in connection with such cooperation, support and assistance to the First Priority Agent.
The Second Priority Agent and such foreclosure purchaser (or its transferee or successor) shall not otherwise be required to remove, insure, protect, store, safeguard, sell or deliver any First Priority Collateral consisting of inventory or to
provide any support, assistance or cooperation to the First Priority Agent in respect thereof. 
 (h) Notwithstanding anything
to the contrary in this Agreement, so long as the Discharge of First Priority Claims has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, the Second Priority
Agent and the Second Priority Lenders will not sell or dispose of all or substantially all of the Second Priority Collateral or institute any action or proceeding with respect thereto (other than any action of foreclosure) for a period of ninety
(90) days commencing from the date that the Trustee shall have given written notice to the First Priority Agent of the occurrence of an Event of Default under and as defined in the Second Priority Documents; provided, however,
that this clause (h) shall not be construed to limit the right of the Second Priority Agent or the Second Priority Lenders to take any Permitted Action; provided, further, that any such Permitted Action does not limit,
interfere with, or impair the First Priority Agent’s activities during the Processing and Sale Period. 
 3.3
Cooperation 
 (a) Subject to the proviso to the first sentence of Section 3.1 (a) above, the Second
Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that, unless and until the Discharge of First 
  

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SUBSIDIARIES 

  
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Priority Claims has occurred, it will not commence, or join with any Person (other than the First Priority Lenders and the First Priority Agent upon the request thereof) in commencing, any
enforcement, collection, execution, levy or foreclosure action or proceeding with respect to any Lien held by it in any First Priority Collateral under any of the Second Priority Documents or otherwise. 

(b) Subject to the proviso to the first sentence of Section 3.2(a) above, the First Priority Agent, on behalf of itself and
the First Priority Lenders, agrees that, unless and until the Discharge of Second Priority Claims has occurred, it will not commence, or join with any Person (other than the Second Priority Lenders and the Second Priority Agent upon the request
thereof) in commencing, any enforcement, collection, execution, levy or foreclosure action or proceeding with respect to any Lien held by it in any Second Priority Collateral under any of the First Priority Documents or otherwise. 

(c) Other than after the occurrence of an Insolvency and Liquidation Proceeding, (i) the First Priority Agent will endeavor to
provide the Second Priority Agent notice of the occurrence of an Event of Default (under and as defined in the Credit Agreement) prior to the time of any acceleration or commencement of enforcement action with respect to the First Priority Claims,
and (ii) the Second Priority Agent will endeavor to provide the First Priority Agent notice of the occurrence of an Event of Default (under and as defined in the Indenture) prior to the time of any acceleration or commencement of enforcement
action with respect to the Second Priority Claims; provided, however, that in the case of each of the undertakings set forth in clauses (i) and (ii) of this paragraph, the failure to provide such notice shall not in any event
and under any circumstances (A) affect the rights and remedies afforded to either the First Priority Agent and the First Priority Lenders under the First Priority Documents or the Second Priority Agent and the Second Priority Lenders under the
Second Priority Documents, or (B) constitute a default, event of default or failure of compliance under this Agreement. 

SECTION 4. Payments 
 4.1 Application of Proceeds 
 (a) As long as the Discharge of First
Priority Claims has not occurred, the First Priority Collateral or proceeds thereof (or amounts in respect thereof) received in connection with the sale or other disposition of, or collection on, such First Priority Collateral upon the exercise of
remedies (or in respect of any First Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor), shall be applied: 

(i) first, to the payment of the costs and expenses incurred by the First Priority Agent or the Second Priority
Agent, as the case may be, in connection with such sale or other disposition or collection until such costs and expenses shall have been paid in full in cash; 
 (ii) second, by the First Priority Agent to the First Priority Claims in such order as specified in the Credit Agreement (or, if an order is not specified in the Credit Agreement, in such order
determined by the First Priority Agent in its sole discretion) up to the First Priority Debt Cap, until the Discharge of First Priority Claims has occurred; 
 (iii) third; by the Second Priority Agent to the Second Priority Claims in such order as specified in the Indenture up to the Second Priority Debt Cap until the Discharge of Second Priority Claims
has occurred; and 
 (iv) fourth, by the First Priority Agent to the Excess First Priority Claims in such
order specified in the Credit Agreement (or, if an order is not specified in the Credit Agreement, in such order determined by the First Priority Agent in its sole discretion) until the Discharge of First Priority Claims has occurred; 

(v) fifth, by the Second Priority Agent to the Excess Second Priority Claims in such order as specified in the
Indenture until the Discharge of Second Priority Claims has occurred; 
  
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 (vi) sixth, to the applicable Grantor, or its successors or assigns,
or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds. 
 (b) As long as the Discharge of Second Priority Claims has not occurred, the Second Priority Collateral or proceeds thereof (or amounts in respect thereof) received in connection with the sale or other
disposition of, or collection on, such Second Priority Collateral upon the exercise of remedies (or in respect of any Second Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor),
shall be applied: 
 (i) first, to the payment of the costs and expenses incurred by the First Priority
Agent or the Second Priority Agent, as the case may be, in connection with such sale or other disposition or collection until such costs and expenses shall have been paid in full in cash; 

(ii) second, by the Second Priority Agent to the Second Priority Claims in such order as specified in the
Indenture up to the Second Priority Debt Cap, until the Discharge of Second Priority Claims has occurred; 

(iii) third; by the First Priority Agent to the First Priority Claims in such order as specified in the Credit
Agreement (or, if an order is not specified in the Credit Agreement, in such order determined by the First Priority Agent in its sole discretion) up to the First Priority Debt Cap, until the Discharge of First Priority Claims has occurred;

 (iv) fourth, by the Second Priority Agent to the Excess Second Priority Claims in such order as
specified in the Indenture, until the Discharge of Second Priority Claims; 
 (v) fifth, by the First
Priority Agent to the Excess First Priority Claims in such order specified in the Credit Agreement (or if an order is not specified in the Credit Agreement, in such order determined by the First Priority Agent in its sole discretion) until the
Discharge of First Priority Claims has occurred; and 
 (vi) sixth, to the applicable Grantor, or its
successors or assigns, or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds. 

(c) Notwithstanding anything to the contrary herein, any asset or stock purchase agreement or any order issued by a court of competent
jurisdiction in any applicable Insolvency or Liquidation Proceeding, if all or substantially all of the assets of any Grantor are sold or otherwise disposed of (whether pursuant to a sale of such assets, a sale of the Capital Stock of such Grantor
or otherwise), to the extent any proceeds thereof are received by any First Priority Lender or any Second Priority Lender: 
 (i) an amount of such proceeds (not to exceed the aggregate amount of such proceeds) equal to the book value of the assets so sold or otherwise disposed of that consist of First Priority Collateral shall
be deemed to be proceeds of First Priority Collateral and shall be applied in accordance with clause (a) above; and 
 (ii) the balance of such proceeds (not to exceed the aggregate amount of such proceeds minus the amount thereof deemed to be proceeds of First Priority Collateral pursuant to the foregoing
clause (i)) shall be deemed to be proceeds of Second Priority Collateral and shall be applied in accordance with clause (b) above. 
 4.2 Payments Over 
 (a) Any First Priority Collateral or proceeds thereof
(or amounts in respect thereof) received by the Second Priority Agent or any Second Priority Lender in connection with the exercise of any right or 
  

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remedy (including set-off) relating to the First Priority Collateral in contravention of this Agreement shall be segregated and held in trust and forthwith paid over to the First Priority Agent
for the benefit of the First Priority Lenders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The First Priority Agent is hereby authorized to make any such endorsements as
agent for the Second Priority Agent or any such Second Priority Lender. This authorization is coupled with an interest and is irrevocable until the Discharge of First Priority Claims. 

(b) Any Second Priority Collateral or proceeds thereof (or amounts in respect thereof) received by the First Priority Agent or any First
Priority Lender in connection with the exercise of any right or remedy (including set-off) relating to the Second Priority Collateral in contravention of this Agreement shall be segregated and held in trust and forthwith paid over to the Second
Priority Agent for the benefit of the Second Priority Lenders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The Second Priority Agent is hereby authorized to make any such
endorsements as agent for the First Priority Agent or any such First Priority Lender. This authorization is coupled with an interest and is irrevocable until the Discharge of Second Priority Claims. 

SECTION 5. Other Agreements 
 5.1 Releases 
 (a) Releases in Respect of First Priority Collateral.

 (i) If in connection with: 

(A) the exercise of the First Priority Agent’s remedies in respect of the First Priority Collateral provided for in
Section 3.1(a), including any sale, lease, exchange, transfer or other disposition of any such First Priority Collateral; or 
 (B) any sale, lease, exchange, transfer or other disposition of any First Priority Collateral permitted under the terms of the First Priority Documents as in effect on the date hereof or as the same may
be modified in conformity with Section 5.3 (whether or not an event of default thereunder, and as defined therein, has occurred and is continuing) and permitted or not prohibited under Section 4.16 of the Indenture (Limitation on
Asset Sales) in effect as of the date hereof; 
 the First Priority Agent, for itself or on behalf of any of the First Priority
Lenders, releases any of its Liens on any part of the First Priority Collateral (other than a release in connection with the Discharge of First Priority Claims), the Liens, if any, of the Second Priority Agent, for itself or for the benefit of the
Second Priority Lenders, on such First Priority Collateral (other than on any portion of the proceeds of such collateral upon which the Second Priority Agent is entitled to have a Lien) shall be automatically, unconditionally and simultaneously
released and the Second Priority Agent, for itself or on behalf of any such Second Priority Lender, promptly shall execute and deliver to the First Priority Agent or such Grantor such termination statements, releases and other documents as the First
Priority Agent or such Grantor may request to effectively confirm such release. 
 (ii) The Second Priority
Agent, for itself and on behalf of the Second Priority Lenders, hereby irrevocably constitutes and appoints the First Priority Agent and any officer or agent of the First Priority Agent, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of the Second Priority Agent or such holder or in the First Priority Agent’s own name, from time to time in the First Priority Agent’s discretion, for the
purpose of carrying out the terms of this Section 5.1(a), to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this
Section 5.1(a), including any termination statements, endorsements or other instruments of transfer or release. 
  

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 (b) Releases in Respect of Second Priority Collateral. 

(i) If in connection with: 
 (A) the exercise of the Second Priority Agent’s remedies in respect of the Second Priority Collateral provided for in Section 3.1(b), including any sale, lease, exchange, transfer or
other disposition of any such Second Priority Collateral; or 
 (B) any sale, lease, exchange, transfer or
other disposition of any Second Priority Collateral permitted under the terms of the Second Priority Documents as in effect on the date hereof or as the same may be modified in conformity with Section 5.3 (whether or not an event of
default thereunder, and as defined therein, has occurred and is continuing) and permitted or not prohibited under Section 9.5 of the Credit Agreement (Limitations on Asset Dispositions); 

the Second Priority Agent, for itself or on behalf of any of the Second Priority Lenders, releases any of its Liens on any part of the
Second Priority Collateral (other than a release in connection with the Discharge of First Priority Claims),, the Liens, if any, of the First Priority Agent, for itself or for the benefit of the First Priority Lenders, on such Second Priority
Collateral (other than on any portion of the proceeds of such collateral, upon which the First Priority Agent is entitled to have a Lien) shall be automatically, unconditionally and simultaneously released and the First Priority Agent, for itself or
on behalf of any such First Priority Lender, promptly shall execute and deliver to the Second Priority Agent or such Grantor such termination statements, releases and other documents as the Second Priority Agent or such Grantor may request to
effectively confirm such release. 
 (ii) The First Priority Agent, for itself and on behalf of the First
Priority Lenders, hereby irrevocably constitutes and appoints the Second Priority Agent and any officer or agent of the Second Priority Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and
authority in the place and stead of the First Priority Agent or such holder or in the Second Priority Agent’s own name, from time to time in the Second Priority Agent’s discretion, for the purpose of carrying out the terms of this
Section 5.1(b), to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Section 5.1(b), including any termination
statements, endorsements or other instruments of transfer or release. 
 5.2 Insurance 

(a) Unless and until the Discharge of First Priority Claims has occurred, the First Priority Agent and the First Priority Lenders shall
have the sole and exclusive right under the First Priority Documents, to the extent such a right is granted in the First Priority Documents, to adjust settlement for any insurance policy covering the First Priority Collateral in the event of any
loss thereunder and to approve any award granted in any condemnation or similar proceeding relating to the First Priority Collateral. Unless and until the Discharge of First Priority Claims has occurred, all proceeds of any such policy and any such
award if in respect to the First Priority Collateral shall be paid in accordance with Section 4.1. If the Second Priority Agent or any Second Priority Lender shall, at any time, receive any proceeds of any such insurance policy or any
such award in contravention of this Agreement, it shall pay such proceeds over to the First Priority Agent in accordance with the terms of Section 4.2. 
 (b) Unless and until the Discharge of Second Priority Claims has occurred, the Second Priority Agent and the Second Priority Lenders shall have the sole and exclusive right under the Second Priority
Documents, to the extent such a right is granted in the Second Priority Documents, to adjust settlement for any insurance policy covering the Second Priority Collateral in the event of any loss thereunder and to approve any award granted in any
condemnation or similar proceeding relating to the Second Priority Collateral. Unless and until the Discharge of Second Priority Claims has occurred, all proceeds of any such policy and any such award if in respect to the Second Priority Collateral
shall be paid in accordance with Section 4.1. If the First Priority Agent or 
  
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any First Priority Lender shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the Second
Priority Agent in accordance with the terms of Section 4.2. 
 5.3 Amendments to Second Priority Documents and
First Priority Documents 
 (a) Without the prior written consent of the First Priority Agent, no Second Priority Document
may be amended, supplemented or otherwise modified or entered into or Refinanced to the extent such amendment, supplement or modification or Refinancing, or the terms of any new Second Priority Document, would: (i) contravene the provision of
this Agreement; (ii) increase the principal amount of the Notes to an amount that is greater than the Second Priority Debt Cap; (iii) increase the cash pay portion of any interest rate by more than two hundred (200) basis points per
annum (excluding increases resulting from the accrual of interest at the default rate); (iv) change (to earlier dates) any dates upon which payments of principal or interest are due thereon; (v) change any default or event of default
thereunder in any manner materially adverse to the credit parties thereunder (it being understood that any waiver of any such default or event of default, in and of itself, shall not be deemed to be adverse to the credit parties); (vi) change
the redemption, prepayment, or defeasance provisions thereof; (vii) change any collateral therefor (other than to release such collateral); (viii) confer additional rights on the Second Priority Agent or any Second Priority Lenders in a
manner materially adverse to the First priority Agent or any First Priority Lender; (ix) change a term that would result in a default under the Credit Agreement or other First Priority Documents; or (x) modify or add any covenant or event
of default under the Second Priority Documents that directly restricts one or more Grantors from making payments under the First Priority Documents which would otherwise be permitted under the Second Priority Documents; or (xi) modify or add a
covenant or event of default under the Second Priority Documents that precludes amendments to the First Priority Documents (except for amendments to such First Priority Documents that would be precluded by Section 5.3(b) of this
Agreement). 
 Notwithstanding the foregoing, the Second Priority Claims may only be Refinanced if the holders of such Refinanced debt bind
themselves (in a writing addressed to the First Priority Agent for the benefit of itself and the First Priority Lenders) to the terms of this Agreement and are otherwise in compliance with this Section 5.3. 

The Second Priority Agent agrees that each Second Priority Collateral Document will include the following language (or language to similar effect
approved by the First Priority Agent): 
 “Notwithstanding anything herein to the contrary, the lien and
security interest granted to the Collateral Agent pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreement (as defined in the Indenture). In the
event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern.” 
 (b) Without the prior written consent of the Second Priority Agent, no First Priority Document may be amended, supplemented or otherwise modified or entered into or Refinanced to the extent such
amendment, supplement, modification, Refinancing or the terms of any new First Priority Document would: (i) contravene the provision of this Agreement; (ii) increase the sum of (A) the principal amount of loans permitted to be
outstanding under the Credit Agreement, plus (B) all other credit accommodations under the First Priority Documents, to be an amount that would exceed the First Priority Debt Cap; (iii) increase the interest rate by more than two hundred
(200) basis points per annum (excluding increases resulting from the accrual of interest at the default rate); (iv) modify or add a covenant or event of default under the First Priority Documents that precludes amendments to the Second
Priority Documents (except for amendments to such Second Priority Documents that would be precluded by Section 5.3(a) of this Agreement); or (v) modify or add any covenant or event of default under the First Priority Documents that
directly restricts one or more Grantors from making payments under the Second Priority Documents which would otherwise be permitted under the First Priority Documents. 
 Notwithstanding the foregoing, the First Priority Claims may only be Refinanced if the holders of such Refinanced debt bind themselves (in a writing addressed to the Second Priority Agent for the benefit
of itself and the Second Priority Lenders) to the terms of this Agreement and are otherwise in compliance with this Section 5.3. 
  

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 The First Priority Agent agrees that each First Priority Collateral Document will include the following
language (or language to similar effect approved by the Second Priority Agent): 
 “Notwithstanding
anything herein to the contrary, the lien and security interest granted to the Administrative Agent pursuant to this Agreement and the exercise of any right or remedy by the Administrative Agent hereunder are subject to the provisions of the
Intercreditor Agreement (as defined in the Indenture). In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern.” 

In addition, the First Priority Agent agrees that each First Priority Collateral Document covering any Second Priority Collateral consisting of real
property shall contain such other language as the Second Priority Agent may reasonably request to reflect the subordination of such First Priority Collateral Document to the Second Priority Mortgage covering such Second Priority Collateral.

 5.4 Rights As Unsecured Creditors 
 (a) Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Agent and the Second Priority Lenders may exercise rights and remedies as an unsecured creditor against the
Company or any Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the Second Priority Documents and applicable law. Nothing in this Agreement shall prohibit the receipt by the Second Priority Agent or any
Second Priority Lenders of the required payments of interest, premium, if any, and principal on the Second Priority Claims and related fees and expenses so long as such receipt is not the direct or indirect result of the exercise by the Second
Priority Agent or any Second Priority Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them in respect of any First Priority Collateral (or received or paid in respect of
any First Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event the Second Priority Agent or any Second Priority Lender becomes a judgment lien creditor in respect of
First Priority Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subordinated to the Liens securing First Priority Claims on the same basis as the other Liens securing the Second Priority
Claims are so subordinated to such First Priority Claims under this Agreement. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Priority Agent or the First Priority Lenders may have with respect to
the First Priority Collateral. 
 (b) Notwithstanding anything to the contrary in this Agreement, each of the First Priority
Agent and the First Priority Lenders may exercise rights and remedies as an unsecured creditor against the Company or any Subsidiary that has guaranteed the First Priority Claims in accordance with the terms of the First Priority Documents and
applicable law. Nothing in this Agreement shall prohibit the receipt by the First Priority Agent or any First Priority Lenders of the required payments of interest, premium, if any, and principal on the First Priority Claims and related fees and
expenses so long as such receipt is not the direct or indirect result of the exercise by the First Priority Agent or any First Priority Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien
held by any of them in respect of any Second Priority Collateral (or received or paid in respect of any Second Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event the
First Priority Agent or any First Priority Lender becomes a judgment lien creditor in respect of Second Priority Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subordinated to the Liens
securing Second Priority Claims on the same basis as the other Liens securing the First Priority Claims are so subordinated to such Second Priority Claims under this Agreement. Nothing in this Agreement impairs or otherwise adversely affects any
rights or remedies the Second Priority Agent or the Second Priority Lenders may have with respect to the Second Priority Collateral. 
  

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 5.5 Agent and Bailee for Perfection and Control 

(a) First Priority Pledged Collateral 
 (i) The First Priority Agent agrees to hold the Pledged Collateral that is part of the First Priority Pledged Collateral in its possession or control (or in the possession or control of its agents or
bailees) as agent and bailee for the Second Priority Agent and any assignee solely for the purpose of perfecting the security interest (or improving the priority thereof) granted in such Pledged Collateral pursuant to the Second Priority Security
Documents, subject to the terms and conditions of this Section 5.5(a). 
 (ii) Until the Discharge
of First Priority Claims has occurred, the First Priority Agent shall be entitled to deal with such Pledged Collateral in accordance with the terms of the First Priority Documents as if the Liens of the Second Priority Agent under the Second
Priority Collateral Documents did not exist. The rights of the Second Priority Agent shall at all times be subject to the terms of this Agreement. 
 (iii) The First Priority Agent shall have no obligation whatsoever to the Second Priority Agent or any Second Priority Lender to assure that such Pledged Collateral is genuine or owned by any of the
Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.5(a). The duties or responsibilities of the First Priority Agent under this Section 5.5(a) shall be limited solely to
holding such Pledged Collateral as agent and bailee for the Second Priority Agent for purposes of perfecting the Lien (or improving the priority thereof) held by the Second Priority Agent. 

(iv) The First Priority Agent shall not have by reason of the Second Priority Collateral Documents or this Agreement or
any other document a fiduciary relationship in respect of the Second Priority Agent or any Second Priority Lender. 
 (v) Upon the Discharge of First Priority Claims, the First Priority Agent shall deliver to the Second Priority Agent or, if applicable, cause the Second Priority Agent to have control of such remaining
Pledged Collateral (if any) together with any necessary endorsements (or otherwise allow the Second Priority Agent, if applicable, to obtain control of such Pledged Collateral) or as a court of competent jurisdiction may otherwise direct. Such
Pledged Collateral (if any) will be delivered or control in respect thereof will be made without recourse and without any representation or warranty whatsoever as to the enforceability, perfection, priority or sufficiency of any Lien securing or
guarantee or other supporting obligation for any Second Priority Claim, together with any necessary endorsements. 
 (vi) Promptly upon the execution of this Agreement by the parties hereto, the Second Priority Agent will, to the extent permitted by applicable law, deliver to the First Priority Agent any First Priority
Collateral in the possession or under the control of, the Second Priority Agent, and all proceeds of First Priority Collateral in the possession or under the control of the Second Priority Agent, whether arising out of the action taken to enforce,
collect or realize upon any First Priority Collateral or otherwise. Such First Priority Collateral and such proceeds will be delivered without recourse and without any representation or warranty whatsoever as to the enforceability, perfection,
priority or sufficiency of any Lien securing or guarantee or other supporting obligation for any First Priority Claim, together with any necessary endorsements. 
 (b) Second Priority Pledged Collateral 
 (i) The Second
Priority Agent agrees to hold the Pledged Collateral that is part of the Second Priority Pledged Collateral in its possession or control (or in the possession or control of its agents or bailees) as agent and bailee for the First Priority Agent and
any assignee solely for the purpose of perfecting the security interest (or improving the priority thereof) granted in such 
  

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 Pledged Collateral pursuant to the First Priority Security Documents, subject to the terms
and conditions of this Section 5.5(b). 
 (ii) Until the Discharge of Second Priority Claims has
occurred, the Second Priority Agent shall be entitled to deal with such Pledged Collateral in accordance with the terms of the Second Priority Documents as if the Liens of the First Priority Agent under the First Priority Collateral Documents did
not exist. The rights of the First Priority Agent shall at all times be subject to the terms of this Agreement. 

(iii) The Second Priority Agent shall have no obligation whatsoever to the First Priority Agent or any First Priority
Lender to assure that such Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.5(b). The duties or responsibilities of the Second
Priority Agent under this Section 5.5(b) shall be limited solely to holding such Pledged Collateral as agent and bailee for the First Priority Agent for purposes of perfecting the Lien (or improving the priority thereof) held by the
First Priority Agent. 
 (iv) The Second Priority Agent shall not have by reason of the First Priority
Collateral Documents or this Agreement or any other document a fiduciary relationship in respect of the First Priority Agent or any First Priority Lender. 
 (v) Upon the Discharge of Second Priority Claims, the Second Priority Agent shall deliver to the First Priority Agent or, if applicable, cause the First Priority Agent to have control of such remaining
Pledged Collateral (if any) together with any necessary endorsements (or otherwise allow the First Priority Agent, if applicable, to obtain control of such Pledged Collateral) or as a court of competent jurisdiction may otherwise direct. Such
Pledged Collateral (if any) will be delivered or control in respect thereof will be made without recourse and without any representation or warranty whatsoever as to the enforceability, perfection, priority or sufficiency of any Lien securing or
guarantee or other supporting obligation for any First Priority Claim, together with any necessary endorsements. 
 (vi) Promptly upon the execution of this Agreement by the parties hereto, the First Priority Agent will, to the extent permitted by applicable law, deliver to the Second Priority Agent any Second Priority
Collateral in the possession or under the control of, the First Priority Agent, and all proceeds of Second Priority Collateral in the possession or under the control of the First Priority Agent, whether arising out of the action taken to enforce,
collect or realize upon any Second Priority Collateral or otherwise. Such Second Priority Collateral and such proceeds will be delivered without recourse and without any representation or warranty whatsoever as to the enforceability, perfection,
priority or sufficiency of any Lien securing or guarantee or other supporting obligation for any Second Priority Claim, together with any necessary endorsements. 
 5.6 Cooperation. 
 (a) Upon request of the First Priority Agent from time
to time, the Second Priority Agent shall promptly disclose to the First Priority Agent all information in its possession reasonably requested by the First Priority Agent with respect to the Second Priority Collateral, including the identity of the
Grantors and guarantors of any Second Priority Obligations and the description, location and timing of perfection of Liens purported to be created on the Second Priority Collateral to secure Second Priority Claims and shall promptly deliver to the
First Priority Agent copies of the Second Priority Documents and other documents relating to the Second Priority Collateral, such as Uniform Commercial Code Financing Statements and record copies of Second Priority Collateral Documents. 

(b) Upon request of the Second Priority Agent from time to time, the First Priority Agent shall promptly disclose to the Second Priority
Agent all information in its possession reasonably requested by the Second Priority Agent with respect to the First Priority Collateral, including the identity of the Grantors and 

 
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 guarantors of any First Priority Claims and the description, location and timing of perfection of Liens
purported to be created on the First Priority Collateral to secure First Priority Claims and shall promptly deliver to the Second Priority Agent copies of the First Priority Documents and other documents relating to the First Priority Collateral,
such as Uniform Commercial Code Financing Statements and record copies of First Priority Collateral Documents. 
 (c) Neither
the First Priority Agent, nor any First Priority Lender, nor any of their respective officers, directors, employees, attorneys, or agents are or will be responsible for the existence, genuineness, value or protection of any Collateral, for the
legality, enforceability, effectiveness or sufficiency of any Second Priority Collateral Document, for the creation, perfection, priority, sufficiency or protection of any Lien created under any Second Priority Collateral Document or for any failure
to demand, collect, foreclose or realize upon or otherwise enforce any Second Priority Collateral Document or any Lien created thereunder, or for any delay in doing so. Neither the Second Priority Agent, nor any Second Priority Lender, nor any of
their respective officers, directors, employees, attorneys, or agents are or will be responsible for the existence, genuineness, value or protection of any Collateral, for the legality, enforceability, effectiveness or sufficiency of any First
Priority Collateral Document, for the creation, perfection, priority, sufficiency or protection of any Lien created under any First Priority Collateral Document or for any failure to demand, collect, foreclose or realize upon or otherwise enforce
any First Priority Collateral Document or any Lien created thereunder, or for any delay in doing so. 
 SECTION 6. Insolvency
or Liquidation Proceedings 
 6.1 Financing Issues 

If the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the First Priority Agent shall
desire to permit the use of cash collateral or to permit the Company or any other Grantor to obtain from the First Priority Lenders (or any of them) or from another Person, financing under Section 363 or Section 364 of the Bankruptcy Code
or any similar Bankruptcy Law (collectively, “DIP Financing”) in an aggregate principal amount that, when taken together with all other First Priority Claims under the Credit Agreement does not exceed the First Priority Debt
Cap, then the Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that it will raise no objection to such DIP Financing and will not request adequate protection or any other relief in connection therewith (except to
the extent permitted by Section 6.3 or relating to the Second Priority Collateral) and, to the extent the Liens securing the First Priority Claims are subordinated or pari passu with such DIP Financing, will subordinate its Liens in the
Common Collateral (other than the Second Priority Collateral) to such DIP Financing (and all Obligations relating thereto) on the same basis as the Liens on the First Priority Collateral that secures the Second Priority Claims are subordinated to
the Liens thereon that secures the First Priority Claims under this Agreement, and agrees that notice received two (2) calendar days (or any shorter time period as may be approved by the court having jurisdiction over the Insolvency or
Liquidation Proceeding) prior to the entry of an order approving such DIP Financing shall be adequate notice; provided that, notwithstanding the foregoing, (i) the Second Priority Agent and the Second Priority Lenders shall have the right to
object to any DIP Financing on the basis that the proposed interest rate, fees, lending limits and sub-limits are not commercially reasonable under the circumstances, (ii) any such DIP Financing does not compel the Company or any Grantor to
seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms are set forth in the DIP Financing documentation; provided, however, that such DIP Financing documentation may require the Company and
any Grantor to seek and obtain confirmation of a plan of reorganization which pays in full, in cash, all DIP Financing and other First Priority Claims (but only, as to the requirement to pay in full, in cash, such other First Priority Claims, if the
aggregate value of all First Priority Collateral is at least equal to all such other First Priority Claims), terminates any borrowing availability with respect to such DIP Financing and any First Priority Documents and provides to the First Priority
Agent and First Priority Lenders releases, indemnifications and other usual and customary provisions and protections in favor of the First Priority Agent and First Priority Lenders. 

6.2 Relief from the Automatic Stay 
 (a) Until the Discharge of First Priority Claims has occurred, the Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that none of them shall seek relief from the automatic
stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the First Priority Collateral, without the prior written consent of the First Priority Agent and the Required First Priority Lenders. 

 
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 (b) Until the Discharge of Second Priority Claims has occurred, the First Priority Agent, on
behalf of itself and the First Priority Lenders, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Second Priority Collateral, without the prior written
consent of the Second Priority Agent and the Required Second Priority Lenders. 
 6.3 Adequate Protection 

(a) The Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that none of them shall contest (or support
any other Person contesting) (a) any request by the First Priority Agent or the First Priority Lenders for adequate protection, or (b) any objection by the First Priority Agent or the First Priority Lenders to any motion, complaint, action
or other proceeding based on the First Priority Agent or the First Priority Lenders claiming a lack of adequate protection, in each ease, in respect of the First Priority Collateral. Notwithstanding the foregoing contained in this
Section 6.3, in any Insolvency or Liquidation Proceeding, (i) if the First Priority Lenders (or any subset thereof) are granted adequate protection in the form of a Lien on additional collateral in connection with any DIP Financing,
then the Second Priority Agent, on behalf of itself or any of the Second Priority Lenders, may seek or request adequate protection in the form of a replacement Lien on such additional collateral, which Lien, if any, on any assets not constituting
Second Priority Collateral or not of the type constituting Second Priority Collateral shall be subordinated to the Liens securing the First Priority Claims and such DIP Financing (and all Obligations relating thereto) on the same basis as the other
Liens on the First Priority Collateral that secures the Second Priority Claims are so subordinated to the Liens thereon that secures the First Priority Claims under this Agreement, and (ii) in the event the Second Priority Agent, on behalf of
itself and the Second Priority Lenders, seeks or requests adequate protection and such adequate protection is granted in the form of a Lien on additional collateral that does not constitute Second Priority Collateral or is not of the type
constituting Second Priority Collateral, then the Second Priority Agent, on behalf of itself or any of the Second Priority Lenders, agrees that the First Priority Agent shall also be granted a senior Lien on such additional-collateral as security
for the First Priority Claims and any such DIP Financing and that any Lien on such additional collateral securing the Second Priority Claims shall be subordinated to the Liens on such collateral securing the First Priority Claims and any such DIP
Financing (and all Obligations relating thereto) and any other Liens granted to the First Priority Lenders as adequate protection on the same basis as the other Liens on the First Priority Collateral that secures the Second Priority Claims are so
subordinated to the Liens thereon that secures such First Priority Claims under this Agreement. 
 (b) The First Priority Agent,
on behalf of itself and the First Priority Lenders, agrees that none of them shall contest (or support any other Person contesting) (a) any request by the Second Priority Agent or the Second Priority Lenders for adequate protection or
(b) any objection by the Second Priority Agent or the Second Priority Lenders to any motion, complaint, action or other proceeding based on the Second Priority Agent or the Second Priority Lenders claiming a lack of adequate protection, in each
case, in respect of the Second Priority Collateral. Notwithstanding the foregoing contained in this Section 6.3, in any Insolvency or Liquidation Proceeding, (i) if the Second Priority Lenders (or any subset thereof) are granted
adequate protection in the form of a Lien on additional collateral in connection with any DIP Financing, then the First Priority Agent, on behalf of itself or any of the First Priority Lenders, may seek or request adequate protection in the form of
a replacement Lien on such additional collateral, which Lien, if any, on any assets not constituting First Priority Collateral or not of the type constituting First Priority Collateral shall be subordinated to the Liens securing the Second Priority
Claims and such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens on the Second Priority Collateral that secures the First Priority Claims are so subordinated to the Liens thereon that secures the Second
Priority Claims under this Agreement, and (ii) in the event the First Priority Agent, on behalf of itself and the First Priority Lenders, seeks or requests adequate protection and such adequate protection is granted in the form of additional
collateral that does not constitute First Priority Collateral or is not of the type constituting First Priority Collateral, then the First Priority Agent, on behalf of itself or any of the First Priority Lenders, agrees that the Second Priority
Agent shall also be granted a senior Lien on such additional collateral as security for the Second Priority Claims and any such DIP Financing and that any Lien on such additional collateral securing the First Priority Claims shall be subordinated to
the Liens on such collateral securing the Second Priority Claims and any such DIP Financing (and all Obligations relating thereto) and any other Liens granted to the Second Priority Lenders as adequate protection on the same basis as the other Liens
on the Second Priority Collateral that secures the First 
 Priority Claims are so subordinated to the Liens thereon that secures such Second
Priority Claims under this Agreement. 
  

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AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
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 6.4 No Waiver 

(a) Nothing contained herein shall prohibit or in any way limit the First Priority Agent or any First Priority Lender from objecting in
any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Second Priority Agent or any of the Second Priority Lenders with respect to the First Priority Collateral, including the seeking by the Second Priority Agent or any
Second Priority Lender of adequate protection (other than as allowed pursuant to Section 6.3 of this Agreement) or the asserting by the Second Priority Agent or any Second Priority Lender of any of its rights and remedies under the
Second Priority Documents or otherwise in respect of the First Priority Collateral. 
 (b) Nothing contained herein shall
prohibit or in any way limit the Second Priority Agent or any Second Priority Lender from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the First Priority Agent or any of the First Priority Lenders with
respect to the Second Priority Collateral, including the seeking by the First Priority Agent or any First Priority Lender of adequate protection consisting of replacement Liens on the Second Priority Collateral (other than as allowed pursuant to
Section 6.3 of this Agreement) or the asserting by the First Priority Agent or any First Priority Lender of any of its rights and remedies under the First Priority Documents or otherwise in respect of the Second Priority Collateral.

 6.5 Preference Issues 
 (a) If any First Priority Lender is required to or does, in any Insolvency or Liquidation Proceeding or otherwise, turn over or otherwise pay to the estate of the Company, any other Grantor or any other
Person, any amount (a “First Priority Claim Recovery”) received in respect of any First Priority Collateral, then the First Priority Claims shall be reinstated to the extent of such First Priority Claim Recovery and the First
Priority Lenders shall be entitled to receive payment in full in cash (including, in the ease of any outstanding letter of credit or unreimbursed draws with respect to letters of credit, cash collateral therefor) with respect to all such recovered
amounts. If this Agreement shall have been terminated prior to such First Priority Claim Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise
affect the obligations of the parties hereto. The Second Priority Agent and each Second Priority Lender agree that none of them shall be entitled to benefit from any avoidance action (including any First Priority Claim Recovery) affecting or
otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be
allocated and turned over for application in accordance with the priorities set forth in this Agreement. 
 (b) If any Second
Priority Lender is required to or does, in any Insolvency or Liquidation Proceeding or otherwise, turn over or otherwise pay to the estate of the Company, any other Grantor, or any other Person, any amount (a “Second Priority Claim
Recovery”) received in respect of any Second Priority Collateral, then the Second Priority Claims shall be reinstated to the extent of such Second Priority Claim Recovery and the Second Priority Lenders shall be entitled to receive
payment in full in cash (including, in the case of any letter of credit, cash collateral therefor) with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Second Priority Claim Recovery, this Agreement
shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. The First Priority Agent and each First Priority Lender agree that
none of them shall be entitled to benefit from any avoidance action (including any Second Priority Claim Recovery) affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or
otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement. 

 
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 6.6 Asset Dispositions in an Insolvency or Liquidation Proceeding 

(a) Neither the Second Priority Agent nor any other Second Priority Lender shall, in an Insolvency or Liquidation Proceeding or
otherwise, oppose any sale or disposition of any assets of any Grantor solely consisting of any First Priority Collateral that is supported by the First Priority Lenders, and the Second Priority Agent and each other Second Priority Lender will be
deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale supported by the First Priority Lenders and to have released their Liens in such assets; provided that (i) the foregoing shall not impair the
rights of the Second Priority Agent and the Second Priority Lenders to credit bid under Section 363(k) of the Bankruptcy Code so long as the Discharge of First Priority Claims has occurred (or will occur in connection with such sale) and
(ii) the proceeds of any such sale or disposition of such assets are applied in accordance with this Agreement. 
 (b)
Neither the First Priority Agent nor any other First Priority Lender shall, in an Insolvency or Liquidation Proceeding or otherwise, oppose any sale or disposition of any assets of any Grantor solely consisting of any Second Priority Collateral that
is supported by the Second Priority Lenders, and the First Priority Agent and each other First Priority Lender will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale supported by the Second
Priority Lenders and to have released their Liens in such assets provided that (i) the foregoing shall not impair the rights of the First Priority Agent and the First Priority Lenders to credit bid under Section 363(k) of the Bankruptcy
Code so long as the Discharge of Second Priority Claims has occurred (or will occur in connection with such sale) and (ii) the proceeds of any such sale or disposition of such assets are applied in accordance with this Agreement. 

6.7 Separate Grants of Security and Separate Classification. 

The Second Priority Lenders and the First Priority Lenders acknowledge and agree that (a) the grants of Liens pursuant to the First
Priority Collateral Documents and the Second Priority Collateral Documents constitute two separate and distinct grants of Liens, and (b) because of, among other things, their differing rights in the Common Collateral, the Second Priority Claims
are fundamentally different from the First Priority Claims and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. To further effectuate the intent of the parties as provided in
the immediately preceding sentence, if it is held that the claims against the First Priority Lenders and Second Priority Lenders in respect of the Common Collateral constitute only one secured claim (rather than separate classes of senior and junior
secured claims), then (i) the Second Priority Lenders hereby acknowledge and agree that all distributions shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the First Priority
Collateral (with the effect being that, to the extent that the aggregate value of the First Priority Collateral is sufficient (for this purpose ignoring all claims held by the Second Priority Lenders), the First Priority Lenders shall be entitled to
receive from the First Priority Collateral or proceeds thereof, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of all interest accrued (or which would have,
absent the commencement of an Insolvency or Liquidation Proceeding, accrued, whether or not such interest is allowed in such Insolvency or Liquidation Proceeding) after the commencement of an Insolvency or Liquidation Proceeding before any
distribution is made from the First Priority Collateral or proceeds thereof in respect of the claims held by the Second Priority Lenders, with the Second Priority Lenders hereby acknowledging and agreeing to turn over to the First Priority Lenders
amounts otherwise received or receivable by them from the First Priority Collateral or proceeds thereof to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the
Second Priority Lenders, and (ii) the First Priority Lenders hereby acknowledge and agree that all distributions shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Second
Priority Collateral (with the effect being that, to the extent that the aggregate value of the Second Priority Collateral is sufficient (for this purpose ignoring all claims held by the First Priority Lenders), the Second Priority Lenders shall be
entitled to receive from the Second Priority Collateral or proceeds thereof, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of all interest accrued (or which
would have, absent the commencement of an Insolvency or Liquidation Proceeding, accrued, whether or not such interest is allowed in such Insolvency or Liquidation Proceeding) after the commencement of an Insolvency or Liquidation Proceeding before
any distribution is made from the Second Priority Collateral or proceeds thereof in respect of the claims held by the First Priority Lenders, with the First Priority Lenders hereby acknowledging and agreeing to turn over to the Second 

 
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Priority Lenders amounts otherwise received or receivable by them from the Second Priority Collateral or proceeds thereof to the extent necessary to effectuate the intent of this sentence, even
if such turnover has the effect of reducing the claim or recovery of the First Priority Lenders. 
 6.8 Plans of
Reorganization. 
 So long as the aggregate value of all First Priority Collateral is at least equal to all First Priority
Claims, no Second Priority Lender shall propose, support or vote in favor of any plan of reorganization (and each shall be deemed to have voted to reject any plan of reorganization under the Bankruptcy Code or other plan or arrangement or other
similar proposal under Bankruptcy Law) unless such plan (a) pays off, in cash in full, all First Priority Claims, (b) is accepted by the class of holders of First Priority Claims voting thereon and is supported by the First Priority Agent
or (c) incorporates this Agreement by reference and continues the relative rights and priorities of the First Priority Lenders and the Second Priority Lenders in the Common Collateral subsequent to the effective date of such plan. 

6.9 Filing of Motions. 
 (a) Until the Discharge of First Priority Claims has occurred, the Second Priority Agent agrees, on behalf of itself and the other Second Priority Lenders that no Second Priority Lender shall, in or in
connection with any Insolvency or Liquidation Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise take any action whatsoever, in each case in respect of any of the First Priority
Collateral, including with respect to the determination of any Liens or claims held by the First Priority Agent (including the priority, validity, perfection, avoidability or enforceability thereof) or any other First Priority Lender or the value of
any claims of such parties under Section 506(a) of the Bankruptcy Code or otherwise; provided that the Second Priority Lenders may file a proof of claim pursuant to Section 3.1(a)(ii)(A) and/or take any other Permitted
Action. 
 (b) Until the Discharge of Second Priority Claims has occurred, the First Priority Agent agrees on behalf of itself
and the other First Priority Lenders that no First Priority Lender shall, in or in connection with any Insolvency or Liquidation Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise
take any action whatsoever, in each ease in respect of any of the Second Priority Collateral, including with respect to the determination of any Liens or claims held by the Second Priority Agent (including the priority, validity, perfection,
avoidability or enforceability thereof) or any other Second Priority Lender or the value of any claims of such parties under Section 506(a) of the Bankruptcy Code or otherwise; provided that the First Priority Lenders may file a proof of
claim pursuant to Section 3.1(b)(ii)(A) and/or take any other Permitted Action. 
 6.10 Other Matters.

 (a) To the extent that the Second Priority Agent or any Second Priority Lender has or acquires fights under Section 363
or Section 364 of the Bankruptcy Code (or any similar provision of any other Bankruptcy Law) with respect to any of the First Priority Collateral, the Second Priority Agent agrees, on behalf of itself and the other Second Priority Lenders not
to assert any of such rights without the prior written consent of the First Priority Agent; provided that if requested by the First Priority Agent, the Second Priority Agent shall timely exercise such rights in the manner reasonably requested
by the First Priority Agent, including any rights to payments in respect of such rights. 
 (b) To the extent that the First
Priority Agent or any First Priority Lender has or acquires rights under Section 363 or Section 364 of the Bankruptcy Code (or any similar provision of any other Bankruptcy Law) with respect to any of the Second Priority Collateral, the
First Priority Agent agrees, on behalf of itself and the other First Priority Lenders not to assert any of such rights without the prior written consent of the Second Priority Agent; provided that if requested by the Second Priority Agent,
the First Priority Agent shall timely exercise such rights in the manner reasonably requested by the Second Priority Agent, including any rights to payments in respect of such rights. 
  
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FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS
HOLDINGS, INC AND SUBSIDIARIES 

  
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 6.11 Effectiveness in Insolvency or Liquidation Proceedings. 

This Agreement is a “subordination agreement” under Section 510(a) of the Bankruptcy Code, which will be effective both
before, during and after the commencement of an Insolvency or Liquidation Proceeding. 
 SECTION 7. Reliance; Waivers;
Etc. 
 7.1 Reliance 
 All loans and other extensions of credit made or deemed made on and after the date hereof by each of the First Priority Lenders and/or the Second Priority Lenders to the Company or any Grantor shall be
deemed to have been given and made in reliance upon this Agreement. 
 7.2 No Warranties or Liability 

The Second Priority Agent, on behalf of itself and the Second Priority Lenders, acknowledges and agrees that each of the First Priority
Agent and the First Priority Lenders have made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the First Priority Documents, the
ownership of any Common Collateral or the perfection or priority of any Liens thereon. 
 The First Priority Agent, on behalf of
itself and the First Priority Lenders, acknowledges and agrees that each of the Second Priority Agent and the Second Priority Lenders have made no express or implied representation or warranty, including with respect to the execution, validity,
legality, completeness, collectibility or enforceability of any of the Second Priority Documents, the ownership of any Common Collateral or the perfection or priority of any Liens thereon. 

The First Priority Lenders will be entitled to manage and supervise their respective loans and extensions of credit under the First
Priority Documents as they may, in their sole discretion, deem appropriate, and the First Priority Lenders may manage their loans and extensions of credit without regard to any rights or interests that the Second Priority Agent or any of the Second
Priority Lenders have in the First Priority Collateral or otherwise, except as otherwise provided in this Agreement. Neither the First Priority Agent nor any First Priority Lender shall have any duty to the Second Priority Agent or any of the Second
Priority Lenders to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with the Company or any Subsidiary thereof (including the Second Priority
Documents), regardless of any knowledge thereof which they may have or be charged with. 
 The Second Priority Lenders will be
entitled to manage and supervise their respective loans and extensions of credit under the Second Priority Documents as they may, in their sole discretion, deem appropriate, and the Second Priority Lenders may manage their loans and extensions of
credit without regard to any rights or interests that the First Priority Agent or any of the First Priority Lenders have in the Second Priority Collateral or otherwise, except as otherwise provided in this Agreement. Neither the Second Priority
Agent nor any Second Priority Lender shall have any duty to the First Priority Agent or any of the First Priority Lenders to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an event of default or
default under any agreements with the Company or any Subsidiary thereof (including the First Priority Documents), regardless of any knowledge thereof which they may have or be charged with. 

7.3 No Waiver of Lien Priorities 
 (a) With Respect to the First Priority Lenders 
 (i) No
right of the First Priority Lenders, the First Priority Agent or any of them to enforce any provision of this Agreement or any First Priority Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of
the Company or any other 
  

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Grantor or by any act or failure to act by any First Priority Lender or the First Priority Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement,
any of the First Priority Documents or any of the Second Priority Documents, regardless of any knowledge thereof which the First Priority Agent or the First Priority Lenders, or any of them, may have or be otherwise charged with; 

(ii) Without in any way limiting the generality of the foregoing paragraph but subject to Section 2.3 and
Section 5.3, the First Priority Lenders, the First Priority Agent and any of them, may, at any time and from time to time, without the consent of, or notice to, the Second Priority Agent or any Second Priority Lender, without incurring
any liabilities to the Second Priority Agent or any Second Priority Lender and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of the Second
Priority Agent or any Second Priority Lender is affected, impaired or extinguished thereby) do any one or more of the following: 
 (A) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the First Priority Claims or any Lien on any
First Priority Collateral or guaranty thereof or any liability of the Company or any other Grantor, or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the First Priority Claims, without any
restriction as to the amount, tenor or terms of any such increase or extension so long as the maximum principal amount of Indebtedness that could then be incurred by the Company or any other Grantor under the Credit Agreement after giving effect to
any such amendment or other modification does not exceed the amount permitted under the First Priority Debt Cap) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the First Priority Agent or any of the
First Priority Lenders, the First Priority Claims or any of the First Priority Documents; 
 (B) sell, exchange,
release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the First Priority Collateral or any liability of the Company or any other Grantor to the First Priority Lenders or the First Priority Agent,
or any liability incurred directly or indirectly in respect thereof; 
 (C) settle or compromise any First
Priority Claim or any other liability of the Company or any other Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability
(including the First Priority Claims) in any manner or order, subject to Section 4.1, to the extent applicable; 
 (D) enter into or amend any First Priority Document in order to create or acquire additional collateral for the First Priority Claims, to create and perfect security interests in and Liens on collateral
and to increase and enhance the exercise of remedies thereunder and take actions in furtherance of the foregoing; and 
 (E) exercise or delay in or refrain from exercising any right or remedy against the Company or any security or any other Grantor or any other Person, elect any remedy and otherwise deal freely with the
Company, any other Grantor or any First Priority Collateral and any security and any guarantor or any liability of the Company or any other Grantor to the First Priority Lenders or any liability incurred directly or indirectly in respect thereof.

 (iii) The Second Priority Agent, on behalf of itself and the Second Priority Lenders, also agrees that the
First Priority Lenders and the First Priority Agent shall have no liability to the Second Priority Agent or any Second Priority Lender, and the Second Priority Agent, on behalf of 

 
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itself and the Second Priority Lenders, hereby waives any claim against any First Priority Lender or the First Priority Agent, arising out of any and all actions which the First Priority Lenders
or the First Priority Agent may take or permit or omit to take with respect to: (i) the First Priority Documents, (ii) the collection of the First Priority Claims or (iii) the foreclosure upon, or sale, liquidation or other
disposition of, any First Priority Collateral. The Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that the First Priority Lenders and the First Priority Agent have no duty to them in respect of the maintenance or
preservation of the First Priority Collateral, the First Priority Claims or otherwise; and 
 (iv) Until the
Discharge of First Priority Claims, the Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise
assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law or any other similar rights a junior secured creditor may have under applicable law.

 (b) With Respect to the Second Priority Lenders 

(i) No right of the Second Priority Lenders, the Second Priority Agent or any of them to enforce any provision of this
Agreement or any Second Priority Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or any other Grantor or by any act or failure to act by any Second Priority Lender or the Second
Priority Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement, any of the Second Priority Documents or any of the First Priority Documents, regardless of any knowledge thereof which the Second
Priority Agent or the Second Priority Lenders, or any of them, may have or be otherwise charged with; 
 (ii)
Without in any way limiting the generality of the foregoing paragraph but subject to Section 2.3 and Section 5.3, the Second Priority Lenders, the Second Priority Agent and any of them, may, at any time and from time to time,
without the consent of, or notice to, the First Priority Agent or any First Priority Lender, without incurring any liabilities to the First Priority Agent or any First Priority Lender and without impairing or releasing the Lien priorities and other
benefits provided in this Agreement (even if any right of subrogation or other right or remedy of the First Priority Agent or any First Priority Lender is affected, impaired or extinguished thereby) do any one or more of the following: 

(A) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange,
increase or alter, the terms of any of the Second Priority Claims or any Lien on any Second Priority Collateral or guaranty thereof or any liability of the Company or any other Grantor, or any liability incurred directly or indirectly in respect
thereof (including any increase in or extension of the Second Priority Claims, without any restriction as to the amount, tenor or terms of any such increase or extension so long as the maximum principal amount of Indebtedness that could then be
incurred by the Company or any other Grantor in respect of the Notes or under the Indenture after giving effect to any such amendment or other modification could be incurred under clause (b) of Section 9.1 of the Credit Agreement (as in
effect on the date hereof)) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the Second Priority Agent or any of the Second Priority Lenders, the Second Priority Claims or any of the Second Priority
Documents; 
 (B) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner
and in any order any part of the Second Priority Collateral or any liability of the Company or any other Grantor to the Second Priority Lenders or the Second Priority Agent, or any liability incurred directly or indirectly in respect thereof;

  
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AGREEMENT BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK
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 (C) settle or compromise any Second Priority Claim or any other liability
of the Company or any other Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the Second Priority Claims) in
any manner or order, subject to Section 4.1, to the extent applicable; 
 (D) enter into or amend
any Second Priority Document in order to create or acquire additional collateral for the Second Priority Claims, to create and perfect security interests in and Liens on collateral and to increase and enhance the exercise of remedies thereunder and
take actions in furtherance of the foregoing; and 
 (E) exercise or delay in or refrain from exercising any
right or remedy against the Company or any security or any other Grantor or any other Person, elect any remedy and otherwise deal freely with the Company, any other Grantor or any Second Priority Collateral and any security and any guarantor or any
liability of the Company or any other Grantor to the Second Priority Lenders or any liability incurred directly or indirectly in respect thereof. 
 (iii) The First Priority Agent, on behalf of itself and the First Priority Lenders, also agrees that the Second Priority Lenders and the Second Priority Agent shall have no liability to the First Priority
Agent or any First Priority Lender, and the First Priority Agent, on behalf of itself and the First Priority Lenders, hereby waives any claim against any Second Priority Lender or the Second Priority Agent, arising out of any and all actions which
the Second Priority Lenders or the Second Priority Agent may take or permit or omit to take with respect to: (i) the Second Priority Documents, (ii) the collection of the Second Priority Claims or (iii) the foreclosure upon, or sale,
liquidation or other disposition of, any Second Priority Collateral. The First Priority Agent, on behalf of itself and the First Priority Lenders, agrees that the Second Priority Lenders and the Second Priority Agent have no duty to them in respect
of the maintenance or preservation of the Second Priority Collateral, the Second Priority Claims or otherwise; and 
 (iv) Until the Discharge of Second Priority Claims, the First Priority Agent, on behalf of itself and the First Priority Lenders, agrees not to assert and hereby waives, to the fullest extent permitted by
law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law or any other similar rights a junior
secured creditor may have under applicable law. 
 7.4 Obligations Unconditional 

All rights, interests, agreements and obligations of the First Priority Agent and the First Priority Lenders and the Second Priority
Agent and the Second Priority Lenders, respectively, hereunder shall remain in full force and effect irrespective of: 
 (a) any
lack of validity or enforceability of any First Priority Documents or any Second Priority Documents; 
 (b) except as otherwise
expressly restricted in this Agreement, any change in the time, manner or place of payment of, or in any other terms of, all or any of the First Priority Claims or Second Priority Claims, or any amendment or waiver or other modification, including
any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of the Credit Agreement or any other First Priority Document or of the terms of the Indenture or any other Second Priority Document; 

(c) except as otherwise expressly restricted in this Agreement, any exchange of any security interest in any Common Collateral or any
other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Priority Claims or Second Priority Claims or any guarantee thereof; 

 
 INTERCREDITOR AGREEMENT
BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 29 

 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of the Company
or any other Grantor; or 
 (e) any other circumstances which otherwise might constitute a defense available to, or a discharge
of, the Company or any other Grantor in respect of the First Priority Claims or the Second Priority Claims, or of the Second Priority Agent or any Second Priority Lender in respect of this Agreement, or of the First Priority Agent or any First
Priority Lender in respect of this Agreement. 
 SECTION 8. Miscellaneous 

8.1 Conflicts 
 In the event of any conflict between the provisions of this Agreement and the provisions of the First Priority Documents or the Second Priority Documents, the provisions of this Agreement shall govern.

 8.2 Continuing Nature of this Agreement; Severability 

This Agreement shall continue to be effective for First Priority Lenders until the Discharge of First Priority Claims shall have occurred
and for Second Priority Lenders until the Discharge of Second Priority Claims shall have occurred. This is a continuing agreement of lien subordination and (a) the First Priority Lenders may continue, at any time and without notice to the
Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Claims on reliance hereof and (b) the
Second Priority Lenders may continue, at any time and without notice to the First Priority Agent or any First Priority Lender, to extend credit and other financial accommodations to or for the benefit of the Company or any other Grantor constituting
Second Priority Claims (including by means of purchasing any Notes issued by the Company) on reliance hereof. Each of the Second Priority Agent, on behalf of itself and the Second Priority Lenders, and the First Priority Agent, on behalf of itself
and the First Priority Lenders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in
any Insolvency or Liquidation Proceeding. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 8.3 Amendments; Waivers

 No amendment, modification or waiver of any of the provisions of this Agreement by the Second Priority Agent or the First
Priority Agent shall be deemed to be made unless the same shall be in writing signed on behalf of the party making the same or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific instance involved and
shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. The Company and other Grantors shall not have any right to consent to or approve any
amendment, modification or waiver of any provision of this Agreement except to the extent their rights are directly affected. 

8.4 Information Concerning Financial Condition of the Company and the Other Grantors 

(a) The First Priority Agent and the First Priority Lenders, on the one hand, and the Second Priority Agent and the Second Priority
Lenders, on the other hand, shall each be responsible for keeping themselves informed of (i) the financial condition of the Company and the other Grantors and all endorsers and/or guarantors of the Second Priority Claims or the First Priority Claims
and (ii) all other circumstances bearing upon the risk of nonpayment of the Second Priority Claims or the First Priority Claims. 
  

INTERCREDITOR AGREEMENT BETWEEN CIT FINANCE LLC
AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
 30 

 (b) Subject to Section 5.6(b), the First Priority Agent and the First Priority
Lenders shall have no duty to advise the Second Priority Agent or any Second Priority Lender of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Priority Agent or any of the
First Priority Lenders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second Priority Agent or any Second Priority Lender, it or they shall be under no obligation (i) to
make, and the First Priority Agent and the First Priority Lenders shall not make, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided,
(ii) to provide any additional information or to provide any such information on any subsequent occasion, (iii) to undertake any investigation or (iv) to disclose any information which, pursuant to accepted or reasonable commercial
finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 
 (c) Subject
to Section 5.6(a), the Second Priority Agent and the Second Priority Lenders shall have no duty to advise any First Priority Agent or any First Priority Lender of information known to it or them regarding such condition or any such
circumstances or otherwise. In the event the Second Priority Agent or any of the Second Priority Lenders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to any First Priority Agent or any
First Priority Lender, it or they shall be under no obligation (i) to make, and the Second Priority Agent and the Second Priority Lenders shall not make, any express or implied representation or warranty, including with respect to the accuracy,
completeness, truthfulness or validity of any such information so provided, (ii) to provide any additional information or to provide any such information on any subsequent occasion, (iii) to undertake any investigation or (iv) to
disclose any information which, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

8.5 Subrogation 
 (a) The Second Priority Agent, on behalf of itself and the Second Priority Lenders, hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First
Priority Claims has occurred. 
 (b) The First Priority Agent, on behalf of itself and the First Priority Lenders, hereby waives
any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Second Priority Claims has occurred. 
 8.6 Application of Payments 
 (a) Subject to Section 4 of this
Agreement, all payments received by the First Priority Lenders in respect of the First Priority Collateral may be applied, reversed and reapplied, in whole or in part, to such part of the First Priority Claims as the First Priority Lenders, in their
sole discretion, deem appropriate. 
 (b) Subject to Section 4 of this Agreement, all payments received by the
Second Priority Lenders in respect of the Second Priority Collateral may be applied, reversed and reapplied, in whole or in part, to such part of the Second Priority Claims as the Second Priority Agent, in its sole discretion, deems appropriate.

 8.7 Consent to Jurisdiction; Waivers 
 The parties hereto consent to the jurisdiction of any state or federal court located in New-York, New York, and consent that all service of process may be made by registered mail directed to such party as
provided in Section 8.8 below for such party. Service so made shall be deemed to be completed three days after the same shall be posted as aforesaid. The parties hereto waive any objection to any action instituted hereunder based on
forum non conveniens, and any objection to the venue of any action instituted hereunder. Each of the parties hereto waives any right it may have to trial by jury in respect of any litigation based on, or arising out of, under or in
connection with this Agreement, or any course of conduct, course of dealing, verbal or written statement or action of any party hereto. 
  

INTERCREDITOR AGREEMENT BETWEEN CIT FINANCE LLC
AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
 31 

 8.8 Notices 
 All notices to the Second Priority Lenders and the First Priority Lenders permitted or required under this Agreement may be sent to the Second Priority Agent and the First Priority Agent, respectively.
Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in writing and may be personally served, telecopied, electronically mailed or sent by courier service or U.S. mail and
shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail, one Business Day after mailing if sent by overnight courier, or four Business Days after deposit in the U.S. mail
(registered or certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the signature pages hereto, or, as to each party, at such
other address as may be designated by such party in a written notice to all of the other parties. 
 8.9 Further
Assurances 
 (a) The Second Priority Agent, on behalf of itself and the Second Priority Lenders, agrees that each of them
shall take such further action and shall execute and deliver to the First Priority Agent and the First Priority Lenders such additional documents and instruments (in recordable form, if requested) as the First Priority Agent or the First Priority
Lenders may reasonably request to effectuate the terms of and the lien priorities contemplated by this Agreement. 
 (b) The
First Priority Agent, on behalf of itself and the First Priority Lenders, agrees that each of them shall take such further action and shall execute and deliver to the Second Priority Agent and the Second Priority Lenders such additional documents
and instruments (in recordable form, if requested) as the Second Priority Agent or the Second Priority Lenders may reasonably request to effectuate the terms of and the lien priorities contemplated by this Agreement. 

8.10 Governing Law 
 This Agreement has been delivered and accepted at and shall be deemed to have been made at New York, New York and shall be interpreted, and the rights and liabilities of the parties bound hereby
determined, in accordance with the laws of the State of New York. 
 8.11 Binding on Successors and Assigns 

This Agreement shall be binding upon the First Priority Agent, the First Priority Lenders, the Second Priority Agent, the Second Priority
Lenders, the Company, the other Grantors and their respective permitted successors and assigns. 
 8.12 Specific
Performance 
 (a) Each of the First Priority Agent and the Second Priority Agent may demand specific performance of this
Agreement. 
 (b) The Second Priority Agent, on behalf of itself and the Second Priority Lenders, hereby irrevocably waives any
defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the First Priority Agent. 

(c) The First Priority Agent, on behalf of itself and the First Priority Lenders, hereby irrevocably waives any defense based on the
adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the Second Priority Agent. 

 
 INTERCREDITOR AGREEMENT
BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK MELLON/BROADVIEW
NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 32 

 8.13 Section Titles; Time Periods 

The section titles contained in this Agreement are and shall be without substantive meaning or content of any kind whatsoever and are not
a part of this Agreement. In the computation of time periods, unless otherwise specified the word “from” means “from and including” and each of the words “to” and “until” means “to but excluding” and
the word “through” means “to and including”. 
 8.14 Counterparts 

This Agreement may be executed in one or more counterparts, each of which shall be an original and all of which shall together constitute
one and the same document. 
 8.15 Authorization 

By its signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the other parties hereto
that it is duly authorized to execute this Agreement. 
 8.16 No Third Party Beneficiaries 

This Agreement and the rights and benefits hereof shall inure to the benefit of each of the First Priority Agent and Second Priority
Agent and their respective successors and assigns and shall inure to the benefit of each of the holders of First Priority Claims and Second Priority Claims. No other Person, including the Company or any other Grantor, the Company or any other
Grantor as debtor-in-possession or any trustee or other Person in an Insolvency or Liquidation Proceeding, shall have or be entitled to assert rights or benefits hereunder. 
 8.17 Effectiveness 
 This Agreement shall become effective when executed
and delivered by the parties hereto. This Agreement shall be effective both before, during and after the commencement of any Insolvency or Liquidation Proceeding. All references to the Company or any other Grantor shall include the Company or any
Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. 
 8.18 Second Priority Lenders’ Purchase Option 
 (a) Upon the
occurrence and during the continuance of (i) an acceleration of the First Priority Claims under the Credit Agreement; or (ii) a foreclosure on any Common Collateral (or the commencement of any legal proceedings against any Grantor or with
respect to any Common Collateral to facilitate the foregoing) by the First Priority Agent, any or all of the Second Priority Lenders, acting as a single purchaser group, shall have the option at any time upon five (5) business days prior
written notice (each such notice, a “Purchase Notice”) from the Second Priority Agent to the First Priority Agent to purchase all (but not less than all) of the First Priority Claims from the First Priority Lenders. Such
Purchase Notice to the First Priority Agent shall be irrevocable. 
 (b) On the date specified by Second Priority Agent in such
Purchase Notice (which shall not be less than five (5) business days, nor more than ten (10) business days, after the receipt by the First Priority Agent of the Purchase Notice from the Second Priority Agent of the election by the Second
Priority Lender to exercise such option), the First Priority Lenders shall sell to Second Priority Lenders, and Second Priority Lenders shall purchase from First Priority Lenders, all (and not less than all) of the First Priority Claims. The First
Priority Agent hereby represents and warrants that, as of the date hereof, no approval of any court or other regulatory or governmental authority is required for such sale. 
 (c) Upon the date of such purchase and sale, the Second Priority Lenders shall (i) pay to the First Priority Agent as the purchase price therefor (the “Purchase Price”) the
full amount of the First Priority Claims then outstanding and unpaid (including principal, interest, fees and expenses, including reasonable attorneys’ fees and legal expenses of one outside law firm but excluding any early termination fee or
prepayment fee), (ii) 
  
 INTERCREDITOR
AGREEMENT BETWEEN CIT FINANCE LLC AND THE BANK OF NEW YORK
MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND SUBSIDIARIES 

  
 33 

 
furnish cash collateral to the First Priority Agent in such amounts as the First Priority Agent determines is reasonably necessary to secure the First Priority Lenders in connection with any
issued and outstanding letters of credit provided by any First Priority Lender under the Credit Agreement to any Grantor (but not in any event in an amount greater than 105% of the aggregate undrawn face amount of such letters of credit),
(iii) agree to reimburse the First Priority Lenders for any loss, cost, damage or expense (including reasonable attorneys’ fees and legal expenses of one outside law firm) in connection with any commissions, fees, costs or expenses related
to any issued and outstanding letters of credit as described above and any checks or other payments provisionally credited to the First Priority Claims, and/or as to which the First Priority Lenders have not yet received final payment,
(iv) agree to pay to the First Priority Lenders any early termination fee or prepayment fee payable in connection with the First Priority Documents within three (3) business days of the receipt of same by the Second Priority Agent and/or
the Second Priority Lenders, after the payment in full in cash to the Second Priority Lenders of the Second Priority Claims and the First Priority Claims purchased by the Second Priority Lenders pursuant to this Section 8.18, including
principal, interest and fees thereon and costs and expense of collection thereof (including reasonable attorneys’ fees and legal expenses of one outside law firm, but excluding any early termination fee (whether owing under the First Priority
Documents or the Second Priority Documents) or prepayment fee (whether owing under the First Priority Documents or the Second Priority Documents)), provided that (x) the notice of termination is received by the Second Priority Agent or
(y) the effective date of termination occurs, within ninety (90) days after the effective date of the purchase of the First Priority Claims by the Second Priority Lenders. Such purchase price and cash collateral shall be remitted by wire
transfer in federal funds to such bank account of the First Priority Agent, as the First Priority Agent may designate in writing to the Second Priority Agent for such purpose. Interest shall be calculated to but excluding the business day on which
such purchase and sale shall occur if the amounts so paid by Second Priority Lenders to the bank account designated by the First Priority Agent are received in such bank account no later than 1:00 p.m., New York City time and interest shall be
calculated to and including such business day if the amounts so paid to the bank account designated by the First Priority Agent are received in such bank account later than 1:00 p.m., New York City time. 

(d) Such purchase shall be expressly made without representation or warranty of any kind by the First Priority Lenders as to the First
Priority Claims or otherwise and without recourse to the First Priority Lenders, except that the First Priority Lenders shall represent and warrant: (i) the amount of the First Priority Claims being purchased, (ii) that the First Priority
Lenders will transfer the First Priority Claims to the Second Priority Lenders free and clear of any Liens or encumbrances and (iii) the First Priority Lenders have the right to assign the First Priority Claims and the assignment is duly
authorized. 
 8.19 First Priority Agent and Second Priority Agent 

It is understood and agreed that (a) CIT Finance LLC is entering into this Agreement in its capacity as First Priority Agent and the
provisions of Article XI and Section 12.3 and 12.15 of the Credit Agreement applicable to it as administrative agent thereunder shall also apply to it as First Priority Agent hereunder, and (b) The Bank of New York Mellon is entering in
this Agreement in its capacity as Trustee (including its capacity as Collateral Agent under the Indenture and the other Second Priority Documents) and the provisions of Articles Seven and Twelve of the Indenture applicable to the Trustee thereunder
shall also apply to the Second Priority Agent hereunder. 
 REMAINDER OF PAGE INTENTIONALLY BLANK 

SIGNATURE PAGES FOLLOW 
  

INTERCREDITOR AGREEMENT BETWEEN CIT FINANCE LLC
AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
 34 

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

			
	FIRST PRIORITY AGENT:
	
	CIT Finance LLC, as First Priority Agent
		
	By:	 	

		 	Name: Renee M. Singer
		 	Title: Managing Director

 

			
	Address:	 	
	
	 11 West 42nd Street, 13th Floor
 New
York, New York 10036
 Attention: Portfolio Manager
 Facsimile no: 212.461.7760

		
	With a copy to:	 	
	
	 Stradley Ronon Stevens & Young LLP
 2005 Market Street, Suite 2600
 Philadelphia PA 19103

Attn: Gary P. Scharmett, Esquire
Facsimile no.: 215.564.8120

 REMAINDER OF PAGE INTENTIONALLY BLANK 

ADDITIONAL SIGNATURE PAGES FOLLOW 
  

INTERCREDITOR AGREEMENT BETWEEN CIT FINANCE LLC
AND THE BANK OF NEW YORK MELLON/BROADVIEW NETWORKS HOLDINGS, INC AND
SUBSIDIARIES 

  
 S-1

 
			
	SECOND PRIORITY AGENT:
	
	 THE BANK OF NEW YORK MELLON, as Trustee, and Second Priority Agent

		
	By:	 	

		 	Name: Latoya S. Elvin
		 	Title: Vice President
	
	Address:
	
	101 Barclay Street, 8W
	New York, New York 10286
	Attention: Corporate Trust Administration
	Facsimile no.: 212.815.5603
	
	With a copy to:
	
	Dechert LLP
	1095 Avenue of the Americas
	New York, NY 10036
	Attn: Michael J. Sage, Esquire
	Facsimile no.: 212.698.3503

 REMAINDER OF PAGE INTENTIONALLY BLANK 

ADDITIONAL SIGNATURE PAGES FOLLOW 

 
			
	GRANTORS, AS ACKNOWLEDGMENT PARTIES ONLY AND WITH NO RIGHTS OF ENFORCEMENT HEREUNDER:
	
	BROADVIEW NETWORKS HOLDINGS, INC.
	BROADVIEW NETWORKS, INC.
	ARC NETWORKS, INC.
	BRIDGECOM SOLUTIONS GROUP, INC.
	BRIDGECOM HOLDINGS, INC.
	A.R.C. NETWORKS, INC.
	ATX COMMUNICATIONS, INC.
	ATX LICENSING, INC.
	ATX TELECOMMUNICATIONS SERVICES OF VIRGINIA, LLC
	BRIDGECOM INTERNATIONAL, INC.
	BROADVIEW NETWORKS OF MASSACHUSETTS, INC.
	BROADVIEW NETWORKS OF VIRGINIA, INC.
	BROADVIEW NP ACQUISITION CORP.
	BV-BC ACQUISITION CORP.
	CORECOMM-ATX, INC.
	CORECOMM COMMUNICATIONS, LLC
	DIGICOM, INC.
	EUREKA BROADBAND CORPORATION
	EUREKA HOLDINGS, LLC
	EUREKA NETWORKS, LLC
	EUREKA TELECOM, INC.
	EUREKA TELECOM OF VA, INC.
	INFO-HIGHWAY INTERNATIONAL, INC.
	INFOHIGHWAY COMMUNICATIONS CORPORATION
	INFOHIGHWAY OF VIRGINIA, INC.
	NEX-I.COM INC.
	OPEN SUPPORT SYSTEMS LLC
	TRUCOM CORPORATION
		
	By:	 	

	Name:	 	Michael K. Robinson
	Title:	 	President and CEO of each of the foregoing entities

 [SIGNATURE PAGE TO INTERCREDITOR AGREEMENT]

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