Document:

<PAGE>

                                                                   Exhibit 10.23

                                 FIRST AMENDMENT

     THIS FIRST AMENDMENT is dated as of February ___, 2002 (this "Amendment")
between HUGHES ELECTRONICS CORPORATION, a corporation organized and existing
under the laws of Delaware (the "Borrower") and GENERAL MOTORS ACCEPTANCE
CORPORATION, a corporation organized under the laws of Delaware (the "Lender").

                              W I T N E S S E T H:
                              - - - - - - - - - -

     WHEREAS, the Borrower and the Lender have agreed to amend the Revolving
Credit Agreement dated as of October 1, 2001 (the "Credit Agreement") in the
manner provided below; and

     WHEREAS, the Borrower and the Lender have agreed to amend the Loan Set-Off
and Security Agreement dated as of October 1, 2001 (the "Loan Set-Off and
Security Agreement") in the manner provided below.

     NOW, THEREFORE, the parties hereto hereby agree as follows:

     1. Defined Terms. Terms defined in the Credit Agreement shall have their
        -------------
defined meanings when used herein.

     2. Amendment of the Credit Agreement. The Credit Agreement (including the
        ---------------------------------
Exhibits thereto) is hereby amended in accordance with Exhibit A hereto: (a) by
                                                       ---------
deleting each term thereof which is lined out; and (b) by inserting each term
thereof which is double underlined, in each case in the place where such term
appears therein.

     3. Amendment of the Loan Set-Off and Security Agreement. The Loan Set-Off
        ----------------------------------------------------
and Security Agreement is hereby amended in accordance with Exhibit B hereto:
                                                            ---------
(a) by deleting each term thereof which is lined out; and (b) by inserting each
term thereof which is double underlined, in each case in the place where such
term appears therein.

     4. Execution of Intercreditor Agreement. Concurrently with the execution of
        ------------------------------------
this Amendment, (a) the Existing Credit Agreement is being amended and restated
in its entirety as set forth in Exhibit C (as so amended and restated, or as
                                ---------
hereafter amended, modified or supplemented, the "Existing Credit Agreement");
and (b) the Borrower, the Lender and Bank of America are entering into an
Intercreditor Agreement in the form attached as Exhibit D (such agreement, as
                                                ---------
amended, modified or supplemented from time to time, the "Intercreditor
Agreement").

     5. Temporary Modification of Credit Agreement. Notwithstanding anything in
        ------------------------------------------
the Credit Agreement to the contrary, until the Intercreditor Agreement shall
have terminated, the Credit Agreement shall be modified as follows:

          (a) The "Termination Date" (as defined in the Credit Agreement) shall
have the same meaning as given such term in the Existing Credit Agreement.

<PAGE>

          (b) The Representations and Warranties of Borrower (as provided in
Section 6 of the Credit Agreement) shall not be applicable (the "Suspended
Representations and Warranties") and in lieu of such, the "Representations and
Warranties of Borrower" in Section 6 of the Existing Credit Agreement (and all
(b) related definitions in the Existing Credit Agreement, to the extent not
otherwise defined in the Credit Agreement) shall instead apply. Notwithstanding
the foregoing, any reference in Section 6 of the Existing Credit Agreement to
Banks, Majority Banks or Administrative Agent shall be deemed to be the Lender
for the purposes of the Credit Agreement.

          (c) The Affirmative Covenants of Borrower (as provided in Section 7 of
the Credit Agreement) shall not be applicable (the "Suspended Affirmative
Covenants") and in lieu of such covenants, the "Affirmative Covenants of
Borrower" in Section 7 of the Existing Credit Agreement (and all related
definitions in the Existing Credit Agreement, to the extent not otherwise
defined in the Credit Agreement) shall instead (c) apply. Notwithstanding the
foregoing, any reference in Section 7 of the Existing Credit Agreement to Banks,
Majority Banks or Administrative Agent shall be deemed to be the Lender for the
purposes of the Credit Agreement.

          (d) The Negative Covenants of Borrower (as provided in Section 8 of
the Credit Agreement) shall not be applicable (the "Suspended Negative
Covenants") and in lieu of such covenants, the "Negative Covenants of Borrower"
in Section 8 of the Existing Credit Agreement (and all related definitions in
the Existing Credit Agreement, to the extent not otherwise defined in the Credit
Agreement) shall instead apply. Notwithstanding the foregoing, any reference in
Section 8 of the Existing Credit Agreement to Banks, Majority Banks or
Administrative Agent shall be deemed to be the Lender for the purposes of the
Credit Agreement. In addition to the Negative Covenants of Borrower in Section 8
of the Existing Credit Agreement (Sections 8.1 to 8.14), the following covenants
shall be applicable while the Intercreditor Agreement remains in effect (with
the definitions in the Credit Agreement to apply to such covenants, unless
otherwise specified below):

          "8.15 Prohibited Transactions. Borrower will not, nor will
                -----------------------
     it permit any other Credit Party (as defined in the Existing
     Credit Agreement) to, enter into any contract or otherwise engage
     in any transaction which would, if completed, result in a
     mandatory prepayment of more than $175,000,000 (in aggregate)
     pursuant to (x) Section 3.4(b)(ii), or (y) Section 3.4(b)(iii) of
     the Existing Credit Agreement (but only with respect to a sale or
     disposition of any of the capital stock in DIRECTV Latin America
     Holdings, Inc., a California corporation ("DLA") owned by
     Borrower or any of its Subsidiaries), without the prior written
     consent of the Lender, which consent shall not be unreasonably
     withheld unless Lender reasonably deems itself insecure. Any
     dividend or other distribution received by the Borrower on or in
     respect of the capital stock or other equity interest in any
     non-wholly owned subsidiary of the Borrower (including PAS and
     DLA) shall count toward reducing the $175,000,000 threshold
     referenced in this Section 8.15.

          8.16 Secured Debt. Borrower will not, nor will it permit any
               ------------
     other Credit Party (as defined in the Existing Credit Agreement)
     to, issue, incur, guaranty or assume any Funded Debt (as defined
     in the Existing Credit

<PAGE>

     Agreement) (other than indebtedness under the Credit Agreement
     and the Existing Credit Agreement) secured by a Lien (as defined
     in the Existing Credit Agreement), other than Liens described in
     clauses (iii), (ix), (xv) and (xvi) of the definition of
     Permitted Liens in the Existing Credit Agreement, upon any
     property or assets of Borrower or any other Credit Party (as
     defined in the Existing Credit Agreement), or upon any shares of
     stock or indebtedness of any Credit Party (as defined in the
     Existing Credit Agreement) (whether such property, assets, shares
     of stock or indebtedness are now owned or hereafter acquired) in
     excess of $2,150,000,000 in principal amount, less the principal
     amount of any permanent reduction in the Shared Collateral
     Secured Obligations (as defined in the Intercreditor Agreement)
     other than the GMAC Shared Collateral Debt (as defined in the
     Intercreditor Agreement), without the prior written consent of
     the Lender."

          (e) The Events of Default (as provided in Section 9 of the Credit
Agreement) shall not be applicable (the "Suspended Events of Default") and in
lieu of such Events of Default, the "Events of Default" in Section 9.1 of the
Existing Credit Agreement (and all related definitions in the Existing Credit
Agreement, to the extent not otherwise defined in the Credit Agreement) shall
instead apply. . Notwithstanding the foregoing, any reference in Section 9.1 of
the Existing Credit Agreement to Banks, Majority Banks or Administrative Agent
shall be deemed to be the Lender for the purposes of the Credit Agreement.

     6. Reinstatement of Credit Agreement. If the Intercreditor Agreement shall
        ---------------------------------
have terminated, so that Section 5 of this Amendment shall no longer be
applicable, the Credit Agreement in the form attached as Exhibit A shall be
effective; provided, however, that there will not be deemed to have occurred a
Default or Event of Default with respect to the Suspended Affirmative Covenants,
Suspended Negative Covenants or Suspended Events of Default during the time that
the Borrower was not subject to such Suspended Affirmative Covenants, Suspended
Negative Covenants and Suspended Events of Default (or upon termination of the
suspension period or after that time based solely on events occurring during the
suspension period).

     7. No Other Amendments. Except as expressly stated herein, the provisions
        -------------------
of the Credit Agreement and the Loan Set-Off and Security Agreement are and
shall remain in full force and effect.

     8. Amendment; Consent. This Amendment shall be effective upon execution by
        -----------------
the Borrower and the Lender.

     9. Governing Law; Counterparts.
        ---------------------------

          (a) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK.

          (b) This Amendment may be executed in any number of counterparts, all
of which counterparts, taken together, shall constitute one and the same
instrument.

<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed and delivered by their respective proper and duly authorized officers
as of the day and year first above written.

                                         HUGHES ELECTRONICS CORPORATION

                                         By:____________________________________
                                         Title

                                         GENERAL MOTORS ACCEPTANCE
                                         CORPORATION

                                         By:____________________________________
                                         Title

<PAGE>

                                   EXHIBIT A

                                CREDIT AGREEMENT

<PAGE>

                                   EXHIBIT B

                       LOAN SET-OFF AND SECURITY AGREEMENT

<PAGE>

                                    EXHIBIT C

                              BANK CREDIT AGREEMENT

<PAGE>

                                    EXHIBIT D

                             INTERCREDITOR AGREEMENT

<PAGE>

================================================================================
                                                                Exhibit 10.23(a)

================================================================================
--------------------------------------------------------------------------------
                           Revolving Credit Agreement

                           Dated as of October 1, 2001

                                     between

                         Hughes Electronics Corporation

                                       and
                      General Motors Acceptance Corporation

--------------------------------------------------------------------------------
================================================================================

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

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
<S>                                                                         <C>
                                    SECTION 1
                                   DEFINITIONS

1.1      Definitions ......................................................    1

                                    SECTION 2
                                   THE CREDIT

2.1      The Commitment ...................................................    7
2.2      The Loans ........................................................    7
2.3      Requests for Loans ...............................................    8
2.4      Interest and Principal on Loans ..................................    8
2.5      Loan Accounts ....................................................    8
2.6      Disbursements and Payments .......................................    8

                                   SECTION 3
                PAYMENT OF COSTS AND REDUCTION OF THE COMMITMENT

3.1      Indemnification ..................................................    9
3.2      Increased Costs ..................................................    9
3.3      Taxes ............................................................    9
3.4      Prepayment .......................................................   10
3.5      Reduction of Commitment by Borrower ..............................   10
3.6      Notice of Reductions .............................................   10
3.7      Effect of Reduction of Commitment ................................   10

                                   SECTION 4
                           [INTENTIONALLY LEFT BLANK]

                                   SECTION 5
                              CONDITIONS PRECEDENT

5.1      Conditions Precedent to Signing Date .............................   11
5.2      Conditions Precedent to Effective Date ...........................   11
5.3      Conditions Precedent to Loans ....................................   12

                                   SECTION 6
                         REPRESENTATIONS AND WARRANTIES

6.1      Authority of Borrower. ...........................................   12
</TABLE>

                                      -1-

<PAGE>

<TABLE>
<S>                                                                          <C>
6.2      Binding Obligations ...............................................  13
6.3      Incorporation of Restricted Subsidiaries ..........................  13
6.4      No Contravention ..................................................  13
6.5      Notices ...........................................................  13
6.6      Financial Statements ..............................................  13
6.7      ERISA .............................................................  14
6.8      Regulation U ......................................................  14
6.9      Taxes .............................................................  14
6.10     Insurance .........................................................  14
6.11     Liens .............................................................  14

                                   SECTION 7
                       AFFIRMATIVE COVENANTS OF BORROWER

7.1      Use of Proceeds of Loans ..........................................  14
7.2      Management of Business ............................................  14
7.3      Notice of Certain Events ..........................................  14
7.4      Records ...........................................................  15
7.5      Information Furnished .............................................  15
7.6      Execution of Other Documents ......................................  16
7.7      ERISA. ............................................................  16
7.8      Compliance with Law ...............................................  16

                                   SECTION 8
                         NEGATIVE COVENANTS OF BORROWER

8.1      Liens .............................................................  17
8.2      Mergers, Liquidations and Sales of Assets .........................  18
8.3      Defaults ..........................................................  19
8.4      Compliance with Regulations .......................................  19
8.5      Financial Covenants ...............................................  19

                                   SECTION 9
                               EVENTS OF DEFAULT

9.1      Events of Default .................................................  20
9.2      Recovery of Amounts Due ...........................................  22
9.3      Rights Cumulative .................................................  22

                                   SECTION 10
                                   THE LENDER

10.1     Representations By Lender .........................................  23
</TABLE>

                                      -2-

<PAGE>

                                   SECTION 11
                            MISCELLANEOUS PROVISIONS

<TABLE>
<S>                                                                          <C>
11.1     Amendments and Waivers ...........................................   23
11.2     Notice ...........................................................   23
11.3     Waiver ...........................................................   24
11.4     NEW YORK LAW .....................................................   25
11.5     Headings .........................................................   25
11.6     Accounting Terms .................................................   25
11.7     Counterparts .....................................................   25
11.8     Singular; Plural .................................................   25
11.9     Illegality .......................................................   25
11.10    Assignments ......................................................   26
11.11    Fees and Expenses ................................................   26
11.12    Indemnity ........................................................   26
11.13    Waiver of Right to Trial by Jury .................................   26
</TABLE>

                                      -3-

<PAGE>

                           REVOLVING CREDIT AGREEMENT

         THIS REVOLVING CREDIT AGREEMENT ("Agreement") is entered into as of
October 1, 2001 (the "Signing Date") between HUGHES ELECTRONICS CORPORATION, a
corporation organized and existing under the laws of Delaware ("Borrower"), and
GENERAL MOTORS ACCEPTANCE CORPORATION, a corporation organized under the laws of
Delaware ("GMAC").

                                 R E C I T A L S
                                 ---------------

         WHEREAS, Borrower and Lender wish to enter into a credit facility to
provide Borrower with additional liquidity and to assure the timely and ultimate
payment of all sums payable hereunder;

         NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, Borrower and Lender agree as follows:

                                    SECTION 1
                                   DEFINITIONS

         1.1   Definitions."Applicable Amount" means 12.5 basis points per annum
               -----------
on the outstanding principal amount of the Loans which does not exceed the
outstanding principal balance of the Credit Balance Account from time to time,
and 175 basis points per annum on the outstanding principal amount of the loans
which does exceed the outstanding principal balance of the Credit Balance
Account from time to time.

         "Affiliate" means, with respect to Lender, any other Person where the
beneficial interest in a majority of the regular, voting securities of such
Person is directly or indirectly in control of, controlled by or under common
control with, Lender or any Person who owns the beneficial interest in a
majority of the regular, voting securities of the Lender, directly or
indirectly.

         "Authorized Designee" means the chief executive officer, the vice
chairman, the chief financial officer, treasurer or the assistant treasurer of
Borrower, or any other officer of Borrower specified as being an Authorized
Designee in the certificate delivered pursuant to Section 5.2(c).

         "Availability Period" means the period commencing on the Effective Date
and ending on the Termination Date.

         "Bank of America" means Bank of America, NA.

         "Borrowing Date" means a date on which funds are advanced to Borrower
by Lender pursuant to a Loan Request.

         "Business Day" means a day other than a Saturday or Sunday on which
banks are open for business in Los Angeles, California, Detroit, Michigan and
New York, New York.

<PAGE>

         "Collateral Documents" means the Security Agreement, the Pledge
Agreement and such other documents executed and delivered in connection with the
attachment and perfection of the liens and security interests thereunder,
including UCC financing statements.

         "Commitment" means $500 million ($500,000,000) plus the principal
amount of the Credit Balance Account that is then outstanding, but not more than
$2 billion ($2,000,000,000), as such amounts may be reduced or changed pursuant
to Section 3.5. In the event that the Borrower has requested a set-off of the
Credit Balance Account pursuant to Section 7 of the Loan Set-Off and Security
Agreement, the amount of the Commitment shall not exceed $2 billion
($2,000,000,000).

         "Compliance Certificate" means a certificate in the form of Exhibit D,
                                                                     ---------
properly completed and signed by Borrower's Chief Financial Officer, Treasurer,
Chief Accounting Officer or an Assistant Treasurer.

         "Consolidated Adjusted Net Worth" means, as of the date of
determination thereof, the consolidated stockholder's equity of Borrower and its
Subsidiaries determined in accordance with GAAP adjusted by adding back the
amount by which such consolidated stockholder's equity has been reduced (or by
subtracting the amount by which stockholder's equity has been increased) on
account of (a) changes subsequent to December 31, 1992 in the long term
liability of Borrower and its Subsidiaries for post-retirement benefits other
than pensions and (b) specified material non-cash adjustments resulting from the
adoptions of future pronouncements of the Financial Accounting Standards Board.

         "Consolidated EBITDA" means, for any period, for Borrower and its
Subsidiaries on a consolidated basis, an amount equal to the sum of (a)
Consolidated Net Income, plus (b) Consolidated Interest Charges, plus (c) the
                         ----                                    ----
amount of taxes, based on or measured by income, used or included in the
determination of such Consolidated Net Income, plus (d) the amount of
                                               ----
depreciation and amortization expense deducted in determining such Consolidated
Net Income; plus (e) if a non-cash charge is taken in connection with the
            ----
write-off of equity investment in Sky Perfect Communications, Inc., the amount
of such non-cash charge; plus (f) the noncash component of any unusual or
                         ----
nonrecurring item of loss or expense (or minus the noncash component of any
                                         -----
unusual or nonrecurring item of gain or income) to the extent used or included
in the determination of such Consolidated Net Income, provided that with respect
                                                      --------
to accruals or reserves for future cash disbursements, such future cash
disbursements shall be deducted in the fiscal period in which such cash
disbursement is made.

         "Consolidated Funded Indebtedness" means, as of any date of
determination, for Borrower and its Subsidiaries on a consolidated basis, the
sum of (a) the outstanding principal amount of all obligations and liabilities,
whether current or long-term, for borrowed money (including Loans hereunder),
and (b) that portion of obligations with respect to capital leases that are
capitalized in the consolidated balance sheet of Borrower and its Subsidiaries
in excess of an aggregate amount of $25,000,000.

         "Consolidated Interest Charges" means, for any period, for Borrower and
its Subsidiaries on a consolidated basis, the sum of (a) all interest, premium
payments, fees, charges and related

<PAGE>

expenses payable by Borrower and its Subsidiaries in connection with borrowed
money (including capitalized interest) or in connection with the deferred
purchase price of assets and imputed interest associated with the assumption of
liabilities relating to programming contracts under purchase accounting in
accordance with GAAP, in each case to the extent treated as interest in
accordance with GAAP, and (b) the portion of rent payable by Borrower and its
Subsidiaries with respect to such period under capital leases that is treated as
interest in accordance with GAAP.

         "Consolidated Net Income" means, for any period, for Borrower and its
Subsidiaries on a consolidated basis, the net income of Borrower and its
Subsidiaries from continuing operations after extraordinary items (excluding
gains or losses from Dispositions of assets) for that period.

         "Consolidated Tangible Net Worth" means, at any date of determination,
Consolidated Adjusted Net Worth less the consolidated intangible assets of
                                ----
Borrower and its Subsidiaries, determined in accordance with GAAP.

         "Credit Balance Account" means up to $1.5 billion of restricted funds
deposited by Borrower with GMAC pursuant to the Loan Set-Off and Security
Agreement against which GMAC has the legally enforceable right to set-off in
order to collect amounts owing under this Agreement.

         "Credit Balance Account Rate" means the interest rate payable by GMAC
to Borrower from time to time pursuant to the Loan Set-Off and Security
Agreement.

         "Debt Rating" means, as of any date of determination, the rating as
determined by either Standard & Poor's Ratings Services or Moody's Investors
Service, Inc. (collectively, the "Debt Ratings") of (a) the Borrower's senior
unsecured long-term debt or (b) if the foregoing debt is not outstanding, then
the rating of this credit facility or the implied rating of senior unsecured and
non-credit enhanced debt securities, provided that if both ratings in this
                                     -------- ----
clause (b) have been issued then both shall apply; or (c) if neither (a) nor (b)
apply, then the rating of long-term debt issued by equipment trusts guaranteed
by Borrower, if any. Initially, the Debt Ratings shall be determined from the
certificate delivered pursuant to Section 5.2(d). Thereafter the Debt Ratings
shall be determined from the most recent public announcement of any changes in
such Debt Ratings.

         "Effective Date" means the date the conditions set forth in Section 5.2
are satisfied or waived by the Lender.

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
in effect from time to time.

         "ERISA Affiliate" means any trade or business (whether or not
incorporated) under common control with Borrower or any Subsidiary of Borrower
within the meaning of Section 414(b), 414(c) or 414(m) of Internal Revenue Code
of 1986, as amended.

         "Event of Default" means any event specified in Section 9.1.

<PAGE>

         "Existing Credit Agreement" means the Amended and Restated Revolving
Credit Agreement (Multi-Year Facility) dated as of November 24, 1999, as
amended, among Borrower, the banks party thereto and Bank of America, as agent
for such banks.

         "Federal Reserve Board" means the Board of Governors of the Federal
Reserve System, or any successor thereto.

         "Financing Statement" means the UCC-1 financing statement executed by
Borrower evidencing Lender's first-priority properly perfected security interest
in the Credit Balance Account.

         "GAAP" means generally accepted accounting principles set forth from
time to time in the opinions and pronouncements of the Accounting Principles
Board and the American Institute of Certified Public Accountants and statements
and pronouncements of the Financial Accounting Standards Board (or agencies with
similar functions of comparable stature and authority within the accounting
profession), or in such other statements by such other entity as may be in
general use by significant segments of the U.S. accounting profession, which are
applicable to the circumstances as of the date of determination.

         "Interest Payment Date" means the last day of each calendar quarter
beginning with December 31, 2001.

         "Intercreditor Agreements" means the Intercreditor Agreement among the
Borrower, GMAC and Bank of America, in its capacity as Administrative Agent and
as Collateral Agent.

         "Lender" shall mean GMAC, or to the extent that GMAC assigns its
interest in the $500 Million Promissory Note to any Person, the term "Lender"
shall include such Person.

         "Leverage Ratio" means, as of the end of any fiscal quarter, for the
Borrower and its Subsidiaries on a consolidated basis, the ratio of (a)
Consolidated Funded Indebtedness as of such date, less the principal amount of
the Credit Balance Account and other cash and cash equivalents of the Borrower
and its Subsidiaries as of such date, to (b) Consolidated EBITDA for the period
of the four fiscal quarters ended on such date.

         "Lien" means any trust deed, mortgage, pledge, hypothecation,
assignment, security interest, lien, charge or encumbrance, or preference,
priority or other security agreement or preferential arrangement of any kind or
nature whatsoever (including, without limitation, the lien of an attachment,
judgment or execution, or any conditional sale or other title retention
agreement, any capitalized lease, and the filing of, or agreement to give, any
financing statement under the Uniform Commercial Code or comparable law of any
jurisdiction, but excluding financing statements filed to give notice of leases
in the ordinary course of business).

         "Loan" or "Loans" means the $500 Million Loan and the $1.5 Billion
Loan.

         "Loan Set-Off and Security Agreement" means an agreement between
Borrower and GMAC in the form of Exhibit E hereto.

<PAGE>

         "Loan Request" means a notice given by Borrower pursuant to Section
2.3.

         "Material Change" means any adverse change which could reasonably be
expected to materially impair Borrower's ability to timely and fully perform its
obligations under this Agreement.

         "Moody's" means Moody's Investors Service, Inc.

         "Note" means the $500 Million Promissory Note and the $1.5 Billion
Promissory Note.

         "PAS" means PanAmSat Corporation.

         "Person" means any legal individual, firm, company, corporation, joint
venture, joint-stock company, trust, unincorporated organization, governmental
or state entity, or any association or partnership (whether or not having
separate legal personality) of two or more of the foregoing.

         "Plan" means any employee benefit pension plan which is subject to the
provisions of Title IV of ERISA and which is maintained for employees of
Borrower or any Subsidiary.

         "Pledge Agreement" means the pledge agreement given pursuant to the
Existing Credit Agreement to secure the $500 Million Loan.

         "Principal Amount" means, when used with reference to any Loan, the
amount requested in the Loan Request relating thereto and made available to
Borrower by the Lender hereunder.

         "Principal Repayment Date" means the Termination Date.

         "Reportable Event" means any of the events set forth in Section 4043(b)
of ERISA or the regulations thereunder excluding those events for which the
30-day notice requirement is waived, a withdrawal from a Plan described in
Section 4063 of ERISA, or a cessation of operations described in Section 4062(e)
of ERISA.

         "Required Rating" means a Debt Rating by S&P of "BB-" or better and a
Debt Rating by Moody's of "Ba3" or better.

         "Restricted Subsidiaries" means each Subsidiary (i) having assets
exceeding 10% of the Consolidated Tangible Net Worth of Borrower and its
Subsidiaries on a consolidated basis or (ii) having operating revenues exceeding
10% of the operating revenues of Borrower and its Subsidiaries on a consolidated
basis, in each case as shown on the pro forma financial statements dated as of
June 30, 1997 and, thereafter, as shown on the audited consolidated financial
statements of Borrower and its Subsidiaries as of the end of the fiscal year
immediately preceding the date of determination; provided, however, that
"Restricted Subsidiary" shall not include any Subsidiary which is a corporation
created solely to purchase receivables from Borrower or any of its Subsidiaries,
and which would not, in accordance with GAAP, be included in the consolidated
financial statements of Borrower.

<PAGE>

         "S&P" means Standard & Poor's Ratings Services.

         "Security  Agreement" means the security  agreement given pursuant to
the Existing Credit Agreement to secure the $500 Million Loan.

         "Shared Collateral" means the collateral interests provided by the
Borrower in substantially all its personal property in which the collateral
interests may be perfected by the filing of Uniform Commercial Code financing
statements and in certain capital stock or other equity interests in certain
subsidiaries, except that such term will not include the capital stock of PAS
unless the inclusion of such capital stock is consented to in writing by the
Administrative Agent (as defined in the Existing Credit Agreement) (or, if there
is no Administrative Agent, the Majority Banks (as defined in the Existing
Credit Agreement) and Lender). The Credit Balance Account shall not be deemed
Shared Collateral

         "Stockholder's Equity" means, as of any date of determination for
Borrower and its Subsidiaries on a consolidated basis, stockholder's equity as
of that date determined in accordance with GAAP.

         "Signing Date" means October 1, 2001.

         "Subsidiaries" (individually a "Subsidiary") means those corporations
or entities of which Borrower owns more than 50% of the voting securities. If
Borrower, subject to the terms hereof, permits its ownership to fall to 50% or
below of outstanding voting shares of any Subsidiary, such Subsidiary shall
thereupon cease to be a Subsidiary for all purposes hereof.

         "Tax" and "Taxes" mean all taxes, levies, imposts, duties, fees or
other charges of whatsoever nature however imposed by any country or any
subdivision or authority of or in that country in any way connected with this
Agreement or any instrument or agreement required hereunder, and all interest,
penalties or similar liabilities with respect thereto, except such taxes as are
imposed on or measured by Lender's net income or capital and franchise taxes, by
the country or any subdivision or authority of or in that country in which
Lender's principal office is located.

         "Termination Date" means September 30, 2002; provided, that if no Event
                                                      --------
of Default or Unmatured Event of Default has occurred and is continuing,
Borrower shall have the right, exercisable from time to time by giving written
notice to Lender not more than forty-five (45) days before the Termination Date
then in effect but not less than 5 Business Days before the Termination Date
then in effect (unless the Termination Date then in effect is on a calendar
quarter end, then written notice must be received by Lender at least 10 Business
Days prior to the Termination Date then in effect), to extend the Termination
Date to the last day of the next calendar month; provided, further, that in no
                                                 --------  -------
event shall the Termination Date be later than March 31, 2003. If the scheduled
Termination Date is not a Business Day, the Termination Date shall be the next
preceding Business Day.

         "Unmatured Event of Default" means an event which with the passage of
time or the giving of notice, or both, would become an Event of Default.

<PAGE>

         "Voting Stock" means capital stock of Borrower having voting power
under ordinary circumstances to elect directors of Borrower.

         "Withdrawal Liability" means, as of any determination date, the
aggregate amount of the liabilities, if any, pursuant to Section 4201 of ERISA
if the Borrower or any ERISA Affiliate made a complete withdrawal from all Plans
and any increase in contributions pursuant to Section 4243 or ERISA.

         "$1.5 Billion Loan" means a loan up to $1.5 Billion (including
principal, interest, fees, indemnities and all other amounts, and including
interest accruing after commencement of a proceeding in bankruptcy,
reorganization or insolvency, whether or not allowable as a claim) secured
solely by the Credit Balance Account.

         "$500 Million Loan" a loan up to $500 Million (including principal,
interest, fees, indemnities and all other amounts, and including interest
accruing after commencement of a proceeding in bankruptcy, reorganization or
insolvency, whether or not allowable as a claim) secured solely by the Shared
Collateral.

         "$1.5 Billion Promissory Note" means the Promissory Note in the
principal sum of $1.5 billion dated the approximate even date of this Agreement
in favor of Lender and executed by Borrower which Promissory Note is secured
solely by the Credit Balance Account.

         "$500 Million Promissory Note" means the Promissory Note in the
principal sum of $500 million dated the approximate even date of this Agreement
in favor of Lender and executed by Borrower which Promissory Note is secured
solely by the Shared Collateral.

                                    SECTION 2
                                   THE CREDIT

         2.1      The Commitment.
                  --------------

                  (a)   From time to time, during the Availability Period, (i)
the holder of the $500 Million Promissory Note agrees to make a loan up to $500
Million secured solely by the Shared Collateral and (ii) the holder of the $1.5
Billion Promissory Note agrees to make a loan up to $1.5 Billion secured solely
by the Credit Balance Account to Borrower in U.S. Dollars up to the amount of
the Commitment, subject to reduction of such amount at Borrower's option,
pursuant to Section 3.5.

                  (b)   The aggregate principal amount of such Loans outstanding
at any one time shall not exceed the then current amount of the Commitment.

         2.2      The Loans. Each Loan shall be in U.S. Dollars, and shall be in
                  ---------
the minimum amount of $5,000,000 with any additional amounts in integral
multiples of $1,000,000. This is a revolving credit, and Borrower may, during
the Availability Period, reborrow amounts repaid or prepaid. No Loan nor any
part of any Loan shall be repaid except at the times and in the manner expressly
provided herein.

<PAGE>

         2.3   Requests for Loans. Each Loan shall be made upon irrevocable
               ------------------
written or telephonic notice, confirmed promptly in writing, substantially in
the form of Exhibit A hereto, by Borrower to the holder of the Note pursuant to
which such advance is to be made, which notice shall be received by such Lender
not later than 11 a.m. Detroit time not less than 2 Business Days prior to the
Borrowing Date.

         2.4   Interest and Principal on Loans. The outstanding Principal Amount
               -------------------------------
of each Loan shall bear interest until payment is due in full (computed daily on
the basis of a 360 day year and actual days elapsed) at the rate of interest for
each calendar month equal to the Credit Balance Account Rate for such month plus
the Applicable Amount. Upon each increase or decrease in the Credit Balance
Account Rate, the rate of interest shall be increased or decreased by the same
amount as the increase or decrease in the Credit Balance Account Rate. In no
event shall the applicable interest rate under this section or Section 2.6(c)
exceed the maximum permitted by law. Borrower shall pay interest on each Loan on
each Interest Payment Date for the interest accruing since the previous Interest
Payment Date on such Loan. Borrower shall repay in full the Principal Amount of
each Loan on the Termination Date.

         2.5   Loan Accounts. Lender shall open and maintain on its books one or
               -------------
more loan accounts in Borrower's name. Each loan account shall show (without
duplication) as debits thereto each Loan and as credits thereto all Loan
payments received by Lender and applied to principal so that the balance of the
loan account(s) at all times reflect the principal amount due Lender from
Borrower. All entries in said books shall be presumptive evidence of the making
of each Loan, the obligation of Borrower to repay each Loan, and all payments
received and disbursed by Lender.

         2.6   Disbursements and Payments
               --------------------------

               (a)   Each Loan shall be made in immediately available funds
(or such other funds as Borrower may require) at Bank of America, Concord, CA,
ABA # 121000358, Account #123560-6628, or such other office designated by
Borrower from time to time and each payment of principal, interest and other
sums under this Agreement shall be made in immediately available funds (or such
other funds as Lender may require) at Chase Manhattan Bank, ABA # 0210-00021,
General Motors Acceptance Corporation Acct. # 910-2-476646, Ref: Hughes
Electronics Corporation, Attn: Mervis Johnson, or such other office designated
by Lender from time to time.

               (b)   Each payment by Borrower shall be made to the Lender
without set-off or counterclaim and not later than 12 noon Detroit time on the
day such payment is due. All sums received after such time shall be deemed
received on the next Business Day.

               (c)   Any sum of principal or interest payable by Borrower
hereunder if not paid when due shall bear interest (payable on demand) from its
due date until payment in full (computed daily on the basis of a 360 day year
and actual days elapsed) at a rate per annum equal to the Credit Balance Account
Rate plus the Applicable Amount plus one percentage point.

<PAGE>

         2.7   Collateral.
               ----------

               (a)   The holder of the $500 Million Promissory Note shall have
the primary rights to the Shared Collateral subject to the terms and conditions
of the Collateral Documents and the Intercreditor Agreement.

               (b)   The holder of the $1.5 Billion Promissory Note shall have
the primary rights to the Credit Balance Account pursuant to the terms and
conditions of the Loan Set-Off and Security Agreement.

                                    SECTION 3
7                         PAYMENT OF COSTS AND REDUCTION
                                OF THE COMMITMENT

         3.1   Indemnification. If Borrower fails to borrow, pay or prepay any
               ---------------
Loan on a date designated to Lender in a notice pursuant to this Agreement,
Borrower shall reimburse Lender within 15 days after receipt of written demand
for any loss incurred by it as a result of the timing of such payment or
non-borrowing, including without limitation any loss incurred in liquidating or
employing funds from third parties and those costs set forth in Section 3.4
below. A certificate of Lender setting forth the amounts reasonably necessary so
to reimburse it in respect of any loss shall be conclusive and binding absent
manifest error.

         3.2   Increased Costs. If after the date hereof, there shall in the
               ---------------
reasonable opinion of the Lender be any change in the tax, accounting or rating
agency treatment of the Commitment, the Loans or the Credit Balance Account,
Lender shall give prompt notice to Borrower describing such change at least four
Business Days prior to the date Lender will begin to implement additional
charges with respect to Borrower. If the result of any of the foregoing is to
increase the cost or reduce the profit to Lender under this Agreement by an
amount deemed by Lender to be material, then, within 15 days after written
demand by Lender, Borrower will pay to Lender such additional amount or amounts
as will compensate Lender for such increased cost incurred or reduction in
profit suffered by Lender. A certificate of Lender setting forth the basis for
determining such additional amount or amounts necessary to compensate the Lender
shall be conclusive and binding absent manifest error.

         3.3   Taxes. All payments or reimbursements under this Agreement and
               -----
any instrument or agreement required hereunder shall be made without set-off or
counterclaim and free and clear of and without deduction for any and all present
and future Taxes. Borrower agrees to cause all such Taxes to be paid on behalf
of Lender directly to the appropriate governmental authority. If Borrower is
legally prohibited from complying with this section, payments due to Lender
under this Agreement and any instrument or agreement required hereunder shall be
increased so that, after provisions for Taxes and all Taxes on such increase,
the amounts received by Lender will be equal to the amounts required under this
Agreement and any instrument or agreement required hereunder as if no Taxes were
due on such payments. Borrower shall indemnify Lender for the full amount of
Taxes payable by Lender and any liabilities (including penalties, interest and
expenses) arising from such Taxes within 30 days from any written demand by
Lender. Borrower shall provide evidence that all applicable Taxes

<PAGE>

have been paid to the appropriate taxing authorities by delivering to Lender
official tax receipts or notarized copies or other evidence thereof satisfactory
to Lender, within 90 days after the due date for such Tax payment.

         3.4   Prepayment.
               ----------

               (a)   Voluntary Prepayment. Upon the irrevocable written notice
of Borrower received by Lender by 11 a.m. Detroit time at least 5 Business Days
prior to the prepayment of a Loan (unless such prepayment of a Loan is on
calendar quarter end, then written notice must be received by Lender by 11 a.m.
Detroit time at least 10 Business Days prior to the prepayment of a Loan),
Borrower may prepay any Loan; but such prepayment shall be in an amount of at
least $5,000,000 with integral multiples of $1,000,000 in excess thereof. The
notice of prepayment shall specify the date of the prepayment, the amount of the
prepayment and the Loan to be prepaid. Each such prepayment shall be made on the
date specified and shall be accompanied by the payment of accrued interest on
the amount prepaid. Subject to compliance with the foregoing procedures, Loans
may be prepaid at any time without cost or penalty of any kind except for any
costs incurred by Lender with respect to a prepayment of any associated
liabilities of the Lender, including without limitation commercial paper.

               (b)   Mandatory Prepayment. The Loan hereunder shall be
                     --------------------
immediately prepaid (i) in the event of the sale or disposition of any of the
capital stock which the Borrower owns in PAS or (ii) in the event that the
Borrower receives any break-up fees (or other similar fee or amount) payable
pursuant to the terms of the Echostar Transaction Documents; provided that if
this clause 3.4(b)(ii) applies at a time when the aggregate amount received
under this clause 3.4(b)(ii), together with amounts paid on the same date under
clause 3.4(b)(i), if any, shall be less than the aggregate amount of the Shared
Collateral Debt (as defined in the Intercreditor Agreement), then the
requirement of a mandatory prepayment under this clause 3.4(b)(ii) shall apply
only if and to the extent that the Majority Banks (as defined in the Existing
Credit Agreement) consent. GMAC shall have the sole discretion to determine
whether to apply any such mandatory prepayment to the $500 Million Loan or the
$1.5 Billion Loan.

         3.5   Reduction of Commitment by Borrower. Borrower may, upon 10
               -----------------------------------
Business Days' prior written notice (which notice shall be irrevocable) reduce
the Commitment. Such a reduction shall be in an integral multiple of $5,000,000.
Borrower shall, on the effective date of each such reduction, repay to Lender
that portion of each Loan which exceeds the amount of the Commitment as reduced,
together with accrued interest on the amount paid. After the effective date of
each reduction, the Lender's obligations under this Agreement shall be based on
the reduced Commitment.

         3.6   Notice of Reductions. Each notice of reduction or prepayment
               --------------------
given pursuant to Section 3.4 or 3.5 shall be irrevocable, shall specify the
date upon which such reduction or prepayment is to be made and, in the case of a
notice of prepayment, shall obligate Borrower to make such prepayment on such
date.

         3.7   Effect of Reduction of Commitment.  Borrower may terminate the
               ---------------------------------
Commitment at any time prior to the Effective Date upon notice thereof to
Lender. The obligations of

<PAGE>

Borrower under Sections 3.1, 3.2, 3.3, 11.11, 11.12 and 11.13 shall survive the
cancellation or termination of the Commitment and the termination of this
Agreement.

                                    SECTION 4
                           [INTENTIONALLY LEFT BLANK]
                              CONDITIONS PRECEDENT

         5.1   Conditions Precedent to Signing Date. The occurrence of the
               ------------------------------------
Signing Date is subject to the condition that on the Signing Date this
Agreement, duly executed and delivered by the parties hereto, shall have been
delivered to Lender.

         5.2   Conditions Precedent to Effective Date.  The obligation of Lender
               --------------------------------------
to make the initial Loans hereunder is subject to the condition that on the
Effective Date there shall have been delivered to the Lender:

               (a)   The $500 Million Promissory Note and the $1.5 Billion
Promissory Note, each duly executed and delivered by the Borrower.

               (b)   The favorable written opinions, dated the Effective Date,
of the General Counsel or Assistant General Counsel of Borrower in the form set
out in Exhibit C with such changes as are consented to by the Lender.

               (c)   Certificate of the Secretary or an Assistant Secretary of
Borrower dated the Effective Date as to (i) the Certificate of Incorporation and
the By-laws of Borrower, (ii) the resolution of the Board of Directors of
Borrower in connection with this Agreement, and (iii) the incumbency and
signatures of the person authorized to execute and deliver this Agreement and
any other instrument, document or other agreement required hereunder on the
Effective Date.

               (d)   A certificate, signed by a vice president of Borrower dated
the Effective Date certifying: (i) that since December 31, 2000, there has been
no change in the financial condition, business, operations or properties of
Borrower and its Subsidiaries taken as a whole which constitutes a Material
Change; (ii) that no event has occurred and is continuing or would result from
the making of a Loan which constitutes or would constitute an Event of Default
or an Unmatured Event of Default; and (iii) the Debt Ratings as of the Effective
Date.

               (e)   Certificate of Good Standing in relation to Borrower issued
by the Secretary of the State of Delaware, dated not more than one month prior
to the Effective Date.

               (f)   Evidence of Borrower's Debt Ratings from both S&P and
Moody's.

               (g)   The Loan Set-Off and Security Agreement, duly executed and
delivered by Borrower.

               (h)   Payment of a $5 million commitment fee.

               (i)   The Financing Statement, duly executed and delivered by the
Borrower.

<PAGE>

         5.3      Conditions Precedent to Loans. The obligation of Lender to
                  -----------------------------
disburse each Loan (including the first Loan) is subject to: (a) the condition
that the Lender shall not deem itself insecure at the time of the disbursement
of any Loan (including the first Loan) and (b) the following conditions and by
communicating a Loan Request, Borrower is deemed to certify that: (i) to the
best knowledge of the Authorized Designee making such Loan Request, the
representations and warranties contained in this Agreement and any other
documents delivered pursuant hereto are true and correct in all material
respects on the date of such Loan Request; (ii) the financial statements
delivered to Lender by Borrower pursuant to Section 7.5 on the date most nearly
preceding the Loan Request present fairly the financial position and results of
operation and changes in financial position of Borrower and its consolidated
Subsidiaries as at the end of, and for the fiscal period to which such
statements relate (subject, in the case of unaudited financial statements to
year end adjustments); and (iii) to the best knowledge of the Authorized
Designee making such Loan Request, no Event of Default or Unmatured Event of
Default has occurred and is continuing except such Events of Default or
Unmatured Events of Default as have been expressly waived by the Lender.

                  In addition, the obligation of Lender to disburse each Loan
(including the first Loan) is subject to the due execution and delivery to
Lender of: (x) an amendment of each existing credit agreement, waiver of claims,
or other document in form and substance satisfactory to Lender, which has the
effect of waiving all claims by Borrower's existing lenders with respect to the
Credit Balance Account and any funds represented thereby while there remains
outstanding any obligation owed to Lender under the $1.5 Billion Promissory Note
or this Agreement; (y) a waiver of claims or other document in form and
substance satisfactory to Lender with respect to the Credit Balance Account and
any funds represented thereby executed by lenders to PAS under any credit
agreement the proceeds of which will be used, directly or indirectly, to repay
existing loans by Borrower to PAS; and (z) indemnification agreements in form
and substance satisfactory to Lender executed by Borrower and any entity which
beneficially owns 51% or more of the issued and outstanding capital stock of
Borrower having voting power under ordinary circumstances to elect directors of
Borrower ("Majority Owner") with respect to claims, damages, losses, liabilities
and expenses incurred or suffered by Lender as a result of claims asserted
against the Credit Balance Account by shareholders of PAS other than Borrower,
and creditors of PAS or Borrower that have not specifically waived claims (or
their successors, representatives or assigns) arising out of or related to the
distribution of funds by PAS to Borrower and/or the funding by Borrower of the
Credit Balance Account.

                                   SECTION 6
REPRESENTATIONS AND WARRANTIES6.   Borrower represents and warrants that as of
the Effective Date:

         6.1      Authority of Borrower. Borrower (a) is a corporation duly
                  ---------------------
organized and existing under the laws of the State of Delaware, with its
principal corporate office in Los Angeles County, California, (b) has the
corporate power to own its property and carry on its business as now being
conducted, (c) is duly qualified and authorized to do business, and is in good
standing in every state, country or other jurisdiction where the failure to be
so qualified, authorized and in good standing would have a material adverse
effect on Borrower, (d) has full power and authority to borrow the sums provided
for in this Agreement, to execute, deliver and perform this

<PAGE>

Agreement and any instrument or agreement required hereunder, and to perform and
observe the terms and provisions hereof and thereof, (e) has taken all corporate
action on the part of Borrower, its directors or stockholder, necessary for the
authorization, execution, delivery and performance of this Agreement, and any
instrument or agreement required hereunder on the date hereof, (f) requires no
consent or approval of any trustee or holder of any indebtedness or obligation
of Borrower to enter into, deliver or perform its obligations under this
Agreement and the Note, except for waivers provided for in this Agreement, and
(g) requires no consent, permission, authorization, order or license of any
governmental authority in connection with the execution and delivery and
performance of this Agreement and any instrument or agreement required
hereunder, or any transaction contemplated hereby, except as may have been
obtained and certified copies of which have been delivered to Lender.

         6.2      Binding Obligations. This Agreement is the legal, valid and
                  -------------------
binding obligation of Borrower, enforceable against it in accordance with its
terms, and any instrument or agreement required hereunder, when executed and
delivered, will be similarly valid, binding and enforceable.

         6.3      Incorporation of Restricted Subsidiaries. Each Restricted
                  ----------------------------------------
Subsidiary of Borrower is a corporation duly incorporated, validly existing and
in good standing under the laws of the jurisdiction of its incorporation and, to
the best of Borrower's knowledge, is duly licensed or qualified as a foreign
corporation in all jurisdictions where the failure to be so qualified,
authorized and in good standing would have a material adverse effect on Borrower
and its Restricted Subsidiaries taken as a whole.

         6.4      No Contravention. There is no charter, by-law, or capital
                  ----------------
stock provision of Borrower and no provision of any indenture or material
agreement, written or oral, to which Borrower is a party or under which Borrower
is obligated, nor is there any statute, rule or regulation, or any judgment,
decree or order of any court or agency binding on Borrower which would be
contravened by the execution, delivery and performance of this Agreement, or any
instrument or agreement required hereunder, or by the performance of any
provision, condition, covenant or other term hereof or thereof.

         6.5      Notices. Except as previously disclosed in writing to Lender,
                  -------
no event has occurred which, to the best of its knowledge, would require
Borrower to notify Lender pursuant to Section 7.3 hereof.

         6.6      Financial Statements. The financial statements dated December
                  --------------------
31, 2000 and June 30, 2001 furnished by Borrower to the Lender, fairly present
the financial position and results of operation and changes in financial
position of Borrower and its consolidated Subsidiaries as at the end of, and for
the fiscal periods to which such statements relate, and such financial
statements were prepared in accordance with GAAP, except, in the case of June
30, for footnotes and year-end audit adjustments. Since June 30, 2001, there has
been no Material Change. Neither Borrower nor any Subsidiary had any contingent
obligations, liabilities for taxes or other outstanding financial obligations at
June 30, 2001 which are material in the aggregate, except as disclosed in such
financial statements or in the Opinion of Counsel.

<PAGE>

         6.7      ERISA. Based upon ERISA and the regulations and published
                  -----
interpretations thereunder, the Plans of Borrower and its Subsidiaries and, to
the knowledge of Borrower, the Plans of any other ERISA Affiliates, are in
material and substantial compliance in all material respects with the applicable
provisions of ERISA and Borrower and its Subsidiaries are in compliance with
such Plans in all material respects. No Reportable Event which has or could be
reasonably be expected to result in termination thereof by the Pension Benefit
Guaranty Corporation or for the appointment by the appropriate United States
District Court of a trustee to administer such Plan has occurred and is
continuing with respect to any Plan.

         6.8      Regulation U. Borrower is not engaged principally, or as one
                  ------------
of its important activities, in the business of extending credit for the
purposes of purchasing or carrying any "margin stock" within the meaning of
Regulation U of the Board of Governors of the Federal Reserve System; and
neither Borrower nor any of its Subsidiaries is an "investment company" within
the meaning of the Investment Company Act of 1940.

         6.9      Taxes. Borrower has filed or has had filed on its behalf all
                  -----
federal and state tax returns which to the knowledge of the financial officers
of Borrower are required to have been filed, and has paid prior to delinquency
all taxes that have become due pursuant to said returns or pursuant to any
assessment, except as are being contested in good faith by appropriate
proceedings and as to which adequate reserves have been provided on the books of
Borrower in accordance with GAAP.

         6.10     Insurance. Borrower and its Restricted Subsidiaries maintain
                  ---------
insurance with responsible insurance companies, in such amounts and against such
risks as is customarily carried by owners of similar businesses and property,
including protection against loss of use and occupancy, to the extent such
insurance is reasonably available at commercially reasonable rates, and it will
furnish Lender, upon written request, with full information as to the insurance
carrier; provided, however, that Borrower and its Restricted Subsidiaries may
self insure to the extent they deem prudent.

         6.11     Liens. The properties and assets of Borrower and its
                  -----
Restricted Subsidiaries, real, personal and mixed, are not subject to any Liens,
except for Liens permitted by this Agreement.

                                   SECTION 7
AFFIRMATIVE COVENANTS OF BORROWER7. Borrower covenants and agrees that during
the Availability Period or until the full and final payment of all Loans, unless
Lender waives compliance in writing:

         7.1      Use of Proceeds of Loans. It will use the proceeds of the
                  ------------------------
Loans made by Lender to Borrower hereunder for its general corporate purposes.

         7.2      Management of Business. It will manage its business and
                  ----------------------
conduct its affairs such that the representations and warranties contained in
Sections 6.1 through 6.3 and 6.7 through 6.11 remain true and correct at all
times during the Availability Period.

         7.3      Notice of Certain Events. It will, and it will cause each of
                  ------------------------
its Restricted Subsidiaries to, give prompt written notice to Lender of:

<PAGE>

                  (a)      all Events of Default or Unmatured Events of Default
under any of the terms or provisions of this Agreement;

                  (b)      any event of default under any other agreement,
contract, indenture, document or instrument entered, or which may be entered,
into by it that could, if settled unfavorably, result in a Material Change and
which has not been disclosed to Lender, with Lender's consent, in the opinion of
counsel pursuant to Section 5.2(b);

                  (c)      all material changes in senior management otherwise
publicly announced;

                  (d)      all litigation, arbitration or administrative
proceedings involving Borrower or any of its Subsidiaries which could in the
reasonable opinion of Borrower be expected to result in a Material Change;

                  (e)      any other matter which has resulted in, or might in
the reasonable opinion of Borrower result in, a Material Change;

                  (f)      concurrently with the public announcement thereof,
any proposed Merger or Disposition affecting any Restricted Subsidiary; and

                  (g)      any change in any Debt Rating by S&P or Moody's.

         7.4      Records. It will, and it will cause each of its Restricted
                  -------
Subsidiaries to, keep and maintain full and accurate accounts and records of its
operations according to GAAP and will permit Lender, and its designated
officers, employees, agents, and representatives, to have access thereto and to
make examination thereof at all reasonable times, to make audits, and to inspect
and otherwise check its properties, real, personal and mixed; provided, however,
that such examination and access shall be in compliance with security and
confidentiality requirements of all governmental authorities and Borrower's
corporate policies.

         7.5      Information Furnished.  It will furnish to Lender:
                  ---------------------

                  (a)      Within 60 days after the close of each quarter,
except for the last quarter of each fiscal year, its consolidated balance sheet
as of the close of such quarter and its consolidated profit and loss statement
and cash flow statement for that quarter and for that portion of the fiscal year
ending with such quarter, all prepared in accordance with GAAP, and all
certified by its Chief Financial Officer, Treasurer, Chief Accounting Officer or
an Assistant Treasurer as presenting fairly the financial position and results
of operation and changes in financial position of Borrower and its consolidated
Subsidiaries as at the end of, and for the fiscal period to which such
statements relate, subject to normal year-end adjustments.

                  (b)      Within 120 days after the close of each fiscal year,
a complete copy of its annual financial statements, which statements shall
include at least its consolidated balance sheet as of the close of such fiscal
year and its consolidated profit and loss statement and cash flow statement for
such fiscal year, prepared by Deloitte & Touche L.L.P. (or such other
independent certified public accountants of recognized international standing
selected by Borrower) in accordance with GAAP applied on a basis consistent with
that of the previous year, and which

<PAGE>

statements shall include the opinion of such accountants, such opinion not to be
qualified or limited because of any restricted or limited nature of examination
made by such accountants or because of a "going concern" qualification.

                  (c)      Within 60 days after the close of each quarter except
for the last quarter of each fiscal year, (and within 120 days after the close
of each fiscal year) its certificate executed by Borrower's Chief Financial
Officer, Treasurer, Chief Accounting Officer or an Assistant Treasurer that (i)
the representations and warranties set forth in Section 6 (with the exception of
Section 6.6) are true and correct in all material respects; and (ii) no Event of
Default or Unmatured Event of Default has occurred and is continuing except such
Events of Default or Unmatured Events of Default as have been expressly waived
by or on behalf of the Lender.

                  (d)      Concurrently with the delivery of the financial
statements referred to in clauses (a) and (b), a duly completed Compliance
                                  ---     ---
Certificate signed by Borrower's Chief Financial Officer, Treasurer, Chief
Accounting Officer or an Assistant Treasurer.

                  (e)      As soon as available, copies of all reports or
materials filed or required to be filed with the Securities and Exchange
Commission.

                  (f)      Such other information concerning its affairs as
Lender may reasonably request.

         7.6      Execution of Other Documents. It will promptly, upon demand by
                  ----------------------------
Lender, execute all such additional agreements, documents and instruments in
connection with this Agreement as Lender may reasonably deem necessary.

         7.7      ERISA.   It will, and it will cause each of its Subsidiaries
                  -----
to:

                  (a)      At all times, make prompt payment of contributions
required to meet the minimum funding standard set forth in ERISA with respect to
its Plans, except to the extent that waivers are granted by the appropriate
governmental agencies;

                  (b)      Notify Lender immediately of (i) any Reportable Event
which could reasonably be expected to result in aggregate liability to Borrower
and its Subsidiaries in excess of $75,000,000 and (ii) any other fact arising in
connection with any of its Plans or a Plan of any ERISA Affiliate which has
resulted, or could reasonably be expected to result, in termination thereof by
the Pension Benefit Guaranty Corporation or for the appointment by the
appropriate United States District Court of a trustee to administer such Plan,
in each case together with a statement, if requested by Lender, as to the
reasons therefor and the action, if any, which Borrower or such ERISA Affiliate
proposes to take with respect thereto; and

                  (c)      Furnish to Lender, upon its written request, such
information concerning any of its Plans as may be reasonably requested.

         7.8      Compliance with Law. It will, and will cause each of its
                  -------------------
Subsidiaries to, comply with the requirements of all applicable laws, rules,
regulations, and orders of any governmental

<PAGE>

or regulatory authority, a breach of which would result in a Material Change,
except where contested in good faith by appropriate proceedings diligently
pursued.

                                   SECTION 8
NEGATIVE COVENANTS OF BORROWER8. Borrower covenants and agrees during the
Availability Period until the full and final payment of all Loans, unless Lender
waives compliance in writing:

       8.1      Liens.
                -----

                (a) Borrower will not, nor will it permit any Restricted
Subsidiary to, issue, incur, guaranty or assume any indebtedness for money
borrowed secured by a Lien upon any property or assets of Borrower or any
Restricted Subsidiary or upon any shares of stock or indebtedness of any
Restricted Subsidiary (whether such property, assets, shares of stock or
indebtedness are now owned or hereafter acquired) without in any such case
effectively providing concurrently with the issuance, incurrence, guarantee or
assumption of any such indebtedness that the Commitment and Loans and any other
obligations of Borrower to the Lender (together with, if Borrower shall so
determine, any other indebtedness of Borrower or such Restricted Subsidiary
ranking equally with the Commitment and Loans and such other obligations and
then existing or thereafter created) shall be secured equally and ratably with
or prior to such indebtedness by a Lien upon such property, assets, shares of
stock or indebtedness to the extent that the aggregate outstanding amount of
such obligations of Borrower to the Lender exceeds, from time to time, the
amount of funds represented by the Credit Balance Account and immediately
available to Lender upon default, unless the aggregate amount of such
indebtedness for money borrowed secured by such Liens, together with all other
indebtedness for money borrowed of Borrower and its Subsidiaries which (if
originally issued, incurred, guaranteed or assumed at such time) would otherwise
be subject to the foregoing restrictions (but not including indebtedness for
money borrowed permitted to be secured under sub-clauses (1) through (7) of
Section 8.1(b)), does not at the time exceed 5% of Consolidated Adjusted Net
Worth.

                (b) The above restrictions shall not apply to indebtedness of
Borrower or any of its Restricted Subsidiaries secured by:

                (1) Liens existing as of the date hereof and listed in Exhibit
B;

                (2) Liens on property, assets, shares of stock or indebtedness
         of any corporation  existing at the time such corporation becomes a
         Restricted Subsidiary;

                (3) Liens on property existing at the time of acquisition of
         such property by Borrower or a Restricted Subsidiary, or Liens to
         secure the payment of all or any part of the purchase price of property
         upon the acquisition of such property by Borrower or a Restricted
         Subsidiary or to secure any indebtedness incurred or guaranteed prior
         to, at the time of, or within 180 days after, the later of the date of
         acquisition of such property and the date such property is placed in
         service, for the purpose of financing all or any part of the purchase
         price thereof, or Liens to secure any indebtedness incurred or
         guaranteed for

<PAGE>

         the purpose of financing the cost to Borrower or a Restricted
         Subsidiary of improvements to such acquired property; provided,
                                                               --------
         however, that for purposes of this clause 3, (i) a satellite will be
         -------
         treated as a newly-acquired asset as of the date it is placed in
         service and (ii) any satellite transponder acquired through the
         exercise of an early buy-out option shall be treated as a
         newly-acquired asset as of the date such option is exercised;

              (4)      Liens securing indebtedness of a Restricted Subsidiary
         owing to Borrower or to another Restricted Subsidiary;

              (5)      Liens on property of a corporation existing at the time
         such corporation is merged or consolidated with Borrower or a
         Restricted Subsidiary (in accordance with Section 8.2) or at the time
         of a sale, lease or other disposition of the properties of a
         corporation as an entirety or substantially as an entirety to Borrower
         or a Restricted Subsidiary;

              (6)      Liens on property of Borrower or a Restricted Subsidiary
         in favor of the United States of America or any state thereof, or any
         department, agency or instrumentality or political subdivision of the
         United States of America or any state thereof, or in favor of any other
         country, or any political subdivision thereof, to secure partial,
         progress, advance or other payments pursuant to any contract or statute
         or to secure any indebtedness incurred for the purpose of financing all
         or any part of the purchase price or the cost of construction of the
         property subject to such Liens;

              (7)      Liens on stock or assets of PAS;

              (8)      Liens in favor of Lender; or

              (9)      any extension, renewal or replacement (or successive
         extensions, renewals or replacements) in whole or in part of any Liens
         referred to in the foregoing sub-clauses (1) to (8), inclusively;
         provided, however, that the principal amount of indebtedness secured by
         --------  -------
         Liens permitted by sub-clauses (1) to (7) thereby shall not exceed the
         principal amount of indebtedness so secured at the time of the
         incurrence or guarantee thereof and that such extension, renewal or
         replacement shall be limited to all or a part of the property which
         secured the Lien so extended, renewed or replaced (plus improvements on
         such property).

         8.2  Mergers, Liquidations and Sales of Assets. It will not, nor will
              -----------------------------------------
it permit any of its Restricted Subsidiaries to liquidate or dissolve or enter
into any consolidation, merger, partnership, joint venture, syndicate, pool or
other combination which results in a Material Change (collectively, the
"Mergers") or convey, sell or lease all or substantially all of its assets or
business (collectively, "Dispositions"), except for:

              (a)      mergers between Subsidiaries, or between Subsidiary and
Borrower where Borrower is the surviving corporation;

              (b)      mergers where Borrower is the surviving corporation;

<PAGE>

         (c)  transfers of assets from one Restricted Subsidiary to another
Restricted Subsidiary or from any Restricted Subsidiary to Borrower;

         (d)  sales, leases, transfers or assignments of operating rights,
licenses or franchises in transactions which do not result in a Material Change
different from changes heretofore publicly disclosed;

         (e)  Dispositions of any Restricted Subsidiary provided both Debt
Ratings remain the Required Rating on the effective date of any such
dispositions; and

provided, however, no Disposition or Merger otherwise permitted by clauses (a)
--------  -------
through (e) above shall take place if before, or after giving effect to any such
Disposition or Merger, an Event of Default or Unmatured Event of Default exists
or would exist.

         8.3  Defaults. It will not, nor will it permit any of its Restricted
              --------
Subsidiaries to, commit or do any act or thing which would constitute an event
of default under any of the material terms or provisions of any other material
agreement, contract, indenture, document or instrument executed, or to be
executed by any of them, except those that may be contested in good faith and
would not, if settled unfavorably, result in a Material Change.

         8.4  Compliance with Regulations. Borrower will not engage principally,
              ---------------------------
or as one of its important activities, in the business of extending credit for
the purposes of purchasing or carrying any "margin stock" within the meaning of
Regulation U of the Board of Governors of the Federal Reserve System; and it
will not use the proceeds of any Loan for the purpose, directly or indirectly,
whether immediate, incidental or ultimate, (a) to purchase or carry, within the
meaning of such Regulation U, any such margin stock or to extend credit to
others for the purpose of purchasing or carrying any such margin stock, unless
done in strict compliance with such Regulation U and other applicable law and
Borrower shall have executed and delivered to Lender prior to such use a Form
G-3 statement evidencing compliance with such Regulation U and such other
documents relating thereto as Lender shall request, or (b) in a manner which
would violate, or result in a violation of, Regulation T, U, or X of the Board
of Governors of the Federal Reserve System.

         8.5  Financial Covenants.
              -------------------

         (a)  Stockholder's Equity. Borrower will not permit Stockholder's
              --------------------
Equity as at the end of any fiscal quarter to be less than the sum of (i)
$9,295,000,000, (ii) an amount equal to 50% of Borrower's consolidated net
income (as determined in accordance with GAAP) earned in each fiscal quarter
ending after December 31, 2000 (with no deduction for a net loss in any such
fiscal quarter) and (iii) an amount equal to 50% of the aggregate increase in
Stockholder's Equity after December 31, 2000 by reason of the issuance of
capital stock of Borrower (including upon any conversion of debt securities of
Borrower into such capital stock).

         (b)  Leverage Ratio. Borrower shall not permit the Leverage Ratio as at
              --------------
the end of any fiscal quarter to be greater than 6.5 to 1.0.

<PAGE>

                                   SECTION 9
                                EVENTS OF DEFAULT

              9.1 Events of Default. If one or more of the following described
                  -----------------
Events of Default shall occur:

              (a) Borrower shall default in the due and punctual payment of (i)
the principal of or the interest on any Loan within two Business Days of its due
date, (ii) any fee due hereunder within 10 Business Days of its due date; or
(iii) any other amount due from it hereunder within 30 Business Days of its due
date; or

              (b) Borrower or any of its Restricted Subsidiaries shall fail to
perform or observe any of the terms, provisions, covenants, conditions,
agreements or obligations contained herein (other than Sections 8.1 through 8.5)
and such failure shall continue for more than 20 days after written notice from
Lender to Borrower of the existence and character of such failure to perform or
observe; or

              (c) Borrower or any of its Restricted Subsidiaries shall fail to
perform or observe any of the terms, provisions, covenants, conditions,
agreements or obligations contained in Sections 8.1 through 8.5; or

              (d) (i) Borrower, or any of its Restricted Subsidiaries shall
become insolvent, or be unable, or admit in writing its inability, to pay its
debts as they become due; or (ii) Borrower or any Restricted Subsidiary shall
make an assignment for the benefit of creditors or to an agent authorized to
liquidate any substantial amount of its properties or assets; or (iii) Borrower
or any Restricted Subsidiary shall file or have filed against it a petition in
bankruptcy or seeking reorganization or to effect a plan or other arrangement
with creditors or winding up or dissolution and such filing against it shall not
be dismissed within 60 days after the date of such filing; or (iv) Borrower or
any Restricted Subsidiary shall apply for or consent to the appointment of or
consent that an order be made appointing any receiver or trustee for any of its
or their properties, assets or business, or if a receiver or a trustee shall be
appointed for all or a substantial part of its or their properties, assets or
business; or (v) an order for relief shall be entered against Borrower or any
Restricted Subsidiary under the United States federal bankruptcy laws as now or
hereafter in effect; or (vi) Borrower or any Restricted Subsidiary shall take
any action indicating its consent to, approval of or acquiescence in, any of the
foregoing; or

              (e) Any representation or warranty made by Borrower herein or in
any certificate or financial or other statement heretofore or hereafter
furnished by Borrower or any of its officers to Lender proves to be in any
material respect false or misleading as of the date when made, deemed made or
reaffirmed; or

              (f)   Any final judgment, decrees, writs of execution, attachments
or garnishments or any Liens, or any other legal processes shall be issued or
levied against any of the assets or property of Borrower or any of its
Restricted Subsidiaries (and shall not have been vacated, discharged or stayed)
in amounts which in the aggregate would result in a Material Change (without
limiting the generality of the foregoing, a judgment in excess of $75,000,000 in

<PAGE>

the aggregate shall, for purposes only of this Section 9.1(f), be deemed to
result in a Material Change); provided, however, that such aggregate amount
                              --------- -------
shall include only amounts in excess of (i) insurance coverage therefor and (ii)
reserves on the books of Borrower or any of its Restricted Subsidiaries
therefor; provided, further, that such aggregate amount shall not include any
          --------  -------
amounts with respect to matters subject to appeal conducted in good faith and
diligently pursued or other further legal process by Borrower or any of its
Restricted Subsidiaries or any amounts with respect to any such legal process
which Borrower or any of its Restricted Subsidiaries has detached from such
property by posting of a bond or equivalent process; or

         (g)  All, or substantially all, of the assets and property of Borrower
or any of its Restricted Subsidiaries shall be condemned, seized or otherwise
appropriated; or

         (h)  Any fact or circumstance (including without limitation a
Reportable Event), which results in, or which Lender determines in good faith
could reasonably be expected to result in, the termination of any Plan of
Borrower, any of its Subsidiaries or any ERISA Affiliate by the Pension Benefit
Guaranty Corporation or the appointment by an appropriate United States District
Court of a trustee to administer any such Plan, shall occur and shall continue
for 30 days after written notice of such determination shall have been given to
Borrower or any of its Subsidiaries by Lender, or a trustee shall be appointed
by the appropriate United States District Court to administer any Plan of
Borrower or any of its Subsidiaries, or the Pension Benefit Guaranty Corporation
shall institute proceedings to terminate any Plan of Borrower or any of its
Subsidiaries or to appoint a trustee to administer any such Plan and, upon the
occurrence of any of the foregoing, the aggregate amount of the unfunded vested
liability for the benefits guaranteed by the Pension Benefit Guaranty
Corporation under all such Plans and the present value of any Withdrawal
Liability which remains unpaid is reasonably estimated to be in excess of
$75,000,000 and such liability is not covered by insurance; or

         (i)  Borrower or any of its Restricted Subsidiaries (i) fails to make
any payment (or otherwise satisfy) in respect of any indebtedness for money
borrowed when due (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise) and such failure continues after the
applicable grace or notice period, if any, specified in the document relating
thereto on the date of such failure; or (ii) an event of default shall occur
which permits the acceleration of indebtedness for money borrowed under the
Existing Credit Agreement or any other agreement, contract, indenture, document
or instrument executed, or which may be executed, by Borrower or any of its
Restricted Subsidiaries, which failure or event of default (other than a failure
or event of default under the Existing Credit Agreement) has not been waived or
cured; provided, however, that no Event of Default shall exist hereunder if the
       --------  -------
amount of the indebtedness which is not paid or may be accelerated with respect
to the defaulted obligations shall not exceed in the aggregate $75,000,000; or

         (j)  Borrower fails to maintain publicly announced Debt Ratings of at
least the Required Rating; or

         (k)  Any sale, spin-off, disposition or other transaction whereby
General Motors Corporation will no longer beneficially own directly or
indirectly at least 51 percent of

<PAGE>

the issued and outstanding capital stock of Borrower having voting power
under ordinary circumstances to elect directors of Borrower shall have occurred;
or

           (l) Borrower enters into any amendment, modification, restatement or
other change to the Existing Credit Agreement, or any future or replacement
credit agreements, without prior written notice to Lender and offering Lender
equivalent amendments to this Agreement (except as to interest rate or fees);

Then (a) automatically upon the occurrence of an Event of Default under Section
9.1(d), the Commitment shall immediately terminate, and all Loans and other
liabilities and obligations outstanding under this Agreement shall, without
presentment, demand, protest, or notice of any kind, all of which are hereby
expressly waived, be forthwith due and payable, if not herein otherwise then due
and payable, together with all costs and expenses (including break and funding
costs and other costs in connection with the relending, reborrowing, funding or
other employing of funds) incurred by the Lender as a result thereof, anything
herein or in any agreement, contract, indenture, document or instrument
contained to the contrary notwithstanding; and (b) at any time after the
occurrence of an Event of Default other than under Section 9.1(d), and in each
and every such case, unless such Event of Default shall have been remedied by
Borrower to the satisfaction of Lender or waived in writing by Lender, Lender
may immediately terminate the Commitment, whereupon the same shall be cancelled
and reduced to zero and any Loan Request given in respect of a Borrowing Date
occurring on or after the date of such notice of cancellation shall cease to
have effect and all Loans and all accrued interest thereon and all other
liabilities and obligations outstanding under this Agreement shall, thereupon,
without presentment, demand, protest, or notice of any kind, all of which are
hereby expressly waived, be forthwith due and payable, if not otherwise then due
and payable, together with all reasonable costs and expenses (including break
and funding costs and other costs in connection with the relending, reborrowing,
funding or other employing of funds) incurred by the Lender as a result thereof,
anything herein or in any other agreement, contract, indenture, document or
instrument contained to the contrary notwithstanding. Thereafter Lender may
immediately, and without expiration of any period of grace, enforce payment of
all liabilities and obligations of Borrower under this Agreement.

     9.2   Recovery of Amounts Due. If any amount payable hereunder is not paid
           -----------------------
as and when due, Borrower hereby authorizes Lender and its Affiliates to
proceed, to the fullest extent permitted by applicable law, without prior
notice, by right of set-off, banker's lien or counterclaim, against any moneys
or other assets of Borrower in any currency that may at any time be in the
possession of Lender or any of its Affiliates, at any branch or office thereof,
and any funds which may be owed by Lender to Borrower to the full extent of all
amounts payable to Lender hereunder. Notwithstanding the foregoing, the holder
of the $1.5 Billion Promissory Note shall be the only party permitted to assert
any rights against the Credit Balance Account.

     9.3   Rights Cumulative. The rights of Lender provided for herein are
           -----------------
cumulative and are not exclusive of any other rights, powers, privileges or
remedies provided by law or in equity.

<PAGE>

                                   SECTION 10
                                   THE LENDER

     10.1 Representations By Lender. Lender hereby represents that it will not
          -------------------------
make any Loan hereunder with a view to engage in any distribution of any
evidence of indebtedness to the public; provided, however, disposition of any
evidence of indebtedness held by Lender shall at all times be within its
exclusive control subject only to the provisions of Section 11.10.

                                   SECTION 11
                            MISCELLANEOUS PROVISIONS

     11.1 Amendments and Waivers. No amendment or waiver of any provision of
          ----------------------
this Agreement, and no consent with respect to any departure by Borrower
therefrom, shall be effective unless the same shall be in writing and signed by
the Lender and the Borrower, and then any such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given.

     11.2 Notices. All notices, payments, requests, reports, information,
          -------
demands and other communications which any party hereto may desire, or may be
required, to give or make to any other party hereto, shall (unless otherwise
permitted as a telephonic notice or request hereunder) be given by mailing the
same, postage prepaid, or by telex, or rapifax transmission, or by hand delivery
or courier, to each party at its address set forth below:

                    General Motors Acceptance Corporation
                    P.O. Box 200
                    Mail Code 482-B10-B11
                    Detroit, Michigan 48265-2000
                    Attn: David E. Ehlers, Director - National Dealer Loans

                    With a copy to:

                    General Motors Acceptance Corporation
                    P.O. Box 200
                    Mail Code 482-B12-B11
                    Detroit, Michigan 48265-2000
                    Attn: Cathy L. Quenneville, Secretary

                    Hughes Electronics Corporation
                    P.O. Box 956
                    200 N. Sepulveda Blvd.
                    El Segundo, California 90245
                    Attn: Treasurer

or to such other address as may, from time to time, be specified in writing by
Borrower or Lender. Such communications shall be deemed to have been duly given
and received in the case of a telex, when the telex is sent and the appropriate
answer-back is received, in the case of mail

<PAGE>

when sent by pre-paid certified or registered mail correctly addressed to the
addressee, in the case of rapifax transmission, when transmission has been sent,
in the case of hand delivery or courier, when received. Lender may rely and act
upon any Loan Request made by telex or other telexed, telephonic or facsimile
instructions to Lender by any Person purporting to be an Authorized Designee of
Borrower, and Borrower shall be unconditionally and absolutely estopped from
denying the authenticity and validity of any transaction or act made by Lender
in reliance thereon. Each party hereto shall promptly confirm by telex or
rapifax any telephone communication made by it to another pursuant to this
Agreement but the absence of such confirmation shall not affect the validity of
such communication, which shall be effective upon receipt. If there is any
conflict between any telephonic communication and a written confirmation, the
written communication shall govern; provided, however, that the recipient of
such communication shall be held harmless by all parties hereto with respect to
any action taken in reliance on the telephonic communication prior to the time
such recipient receives and has had reasonable time to review the subsequent
written confirmation and initiate such corrective action as the recipient deems
reasonable under the circumstances.

     11.3 Waiver. Neither the failure of, nor any delay on the part of, any
          ------
party hereto in exercising any right, power or privilege hereunder, or under any
agreement, contract, indenture, document or instrument mentioned herein, shall
operate as a waiver thereof, nor shall any single or partial exercise of any
right, power or privilege hereunder, or under any agreement, contract,
indenture, document or instrument mentioned herein, preclude other or further
exercise thereof or the exercise of any other right, power or privilege; nor
shall any waiver of any right, power, privilege or default hereunder, or under
any agreement, contract, indenture, document or instrument mentioned herein,
constitute a waiver of any other right, power, privilege or default or
constitute a waiver of any other default of the same or of any other term or
provision. All rights and remedies herein provided are cumulative and not
exclusive of any rights or remedies otherwise provided by law.

<PAGE>

     11.4 NEW YORK LAW. THE INTERPRETATION, ENFORCEMENT AND EFFECT OF THIS
          ------------
AGREEMENT, THE LOANS AND ANY AGREEMENTS, CONTRACTS, INDENTURES, DOCUMENTS OR
INSTRUMENTS DELIVERED IN ACCORDANCE HEREWITH, SHALL BE GOVERNED AND CONTROLLED
IN ALL RESPECTS BY AND CONSTRUED ACCORDING TO THE SUBSTANTIVE LAWS OF THE STATE
OF NEW YORK, TO THE JURISDICTION OF WHOSE COURTS THE PARTIES HERETO HEREBY AGREE
TO SUBMIT. BORROWER WAIVES ANY OBJECTION BASED ON LACK OF PERSONAL JURISDICTION,
IMPROPER VENUE OR FORUM NON CONVENIENS, WITH REGARD TO ANY ACTIONS, CLAIMS,
DISPUTES OR PROCEEDINGS RELATING TO THIS AGREEMENT, THE NOTE OR ANY OTHER
DOCUMENT DELIVERED HEREUNDER OR IN CONNECTION HEREWITH, OR ANY TRANSACTION
ARISING FROM OR CONNECTED TO ANY OF THE FOREGOING. BORROWER WAIVES PERSONAL
SERVICE OF ANY AND ALL PROCESS UPON IT, AND CONSENTS TO ALL SUCH SERVICE OF
PROCESS MADE BY MAIL OR BY MESSENGER DIRECTED TO IT AT THE ADDRESS SPECIFIED IN
THE CREDIT AGREEMENT. NOTHING HEREIN SHALL AFFECT THE RIGHT OF LENDER TO SERVE
PROCESS IN ANY MANNER PERMITTED BY LAW, OR LIMIT THE RIGHT OF LENDER TO BRING
PROCEEDINGS AGAINST BORROWER OR ITS PROPERTY OR ASSETS IN THE COMPETENT COURTS
OF ANY OTHER JURISDICTION OR JURISDICTIONS.

     11.5 Headings. The headings set forth herein are solely for the purpose of
          --------
identification and shall not be construed as a part of the sections or
subsections which they head.

     11.6 Accounting Terms. All accounting terms not otherwise defined herein
          ----------------
have the meaning assigned to them in accordance with GAAP, provided, however,
any act or condition in accordance herewith and permitted hereunder when taken,
created or occurring, shall not become a violation of any section of this
Agreement as a result of a subsequent change in GAAP.

     11.7 Counterparts. This Agreement may be executed in any number of
          ------------
counterparts and by the different parties hereto on separate counterparts, and
all of said counterparts taken together shall constitute one and the same
instrument.

     11.8 Singular; Plural. Whenever used herein, the singular number shall
          ----------------
include the plural, the plural the singular, and the use of any gender shall be
applicable to all genders.

     11.9 Illegality. The illegality or unenforceability of any provision of
          ----------
this Agreement or any instrument or agreement required hereunder shall not in
any way affect or impair the legality or enforceability of the remaining
provisions of this Agreement or any instrument or agreement required hereunder.

<PAGE>

     11.10 Assignments. This Agreement shall bind and inure to the benefit of
           -----------
the parties hereto and their respective successors and assigns. No party hereto
may assign or transfer all or any part of its rights and obligations hereunder,
except that:

           (a) Lender may at any time assign and delegate to one or more of its
Affiliates or securitization entities administered by Lender (each an
"Assignee"), all, or any ratable part of all, of the Loans, the Commitment and
the other rights and obligations of Lender hereunder, including but not limited
to the $500 Million Loan; provided, however, that Lender shall at all times
remain obligated to make the Loans hereunder.

           (b) Borrower authorizes Lender to disclose to any prospective
Assignee any and all information in Lender's possession concerning Borrower,
this Agreement, the Credit Balance Account and any other collateral, subject to
confidentiality agreements.

     11.11 Fees and Expenses. Borrower agrees to pay on demand (a) to Lender all
           -----------------
reasonable costs, expenses and attorneys' fees (including allocated costs for
in-house legal services) incurred by Lender in connection with the preparation
and administration of this Agreement and any documents including any amendments,
waivers, or other modifications and (b) all reasonable costs, expenses and
attorneys' fees (including allocated costs for in-house legal services) incurred
by Lender in connection with the enforcement of this Agreement and any
instrument or agreement required hereunder and in connection with any
refinancing or restructuring of the Loans in the nature of a "work-out".

     11.12 Indemnity. Borrower agrees to indemnify the Lender, its Affiliates
           ---------
and their respective directors, officers, agents and employees (collectively,
the "Indemnitees") from and hold each of them harmless against any and all
losses, liabilities, claims, damages or expenses reasonably incurred by any of
them arising out of or by: (a) reason of any investigation by governmental or
judicial authorities or being made a party to any litigation or other similar
proceeding related to any use made or proposed to be made by Borrower of the
proceeds of any Loan for the acquisition of any other Person including, without
limitation, the reasonable fees and disbursements of counsel (including
allocated costs for in-house legal services) incurred in connection with any
such investigation, (b) claims asserted against the Credit Balance Account by
shareholders of PAS (other than Borrower), and (c) claims of creditors of PAS
(or their successors, representatives or assigns) arising out of or related to
the distribution of funds by PAS to Borrower and/or the funding by Borrower of
the Credit Balance Account; provided, however, that Borrower shall have no
obligation to indemnify or pay for the costs and expenses of more than one
counsel for the Indemnitees, unless any Indemnitee shall in good faith
reasonably determine that there is a conflict of interest that causes it to be
reasonably necessary for any Indemnitees to be represented by other counsel.
Counsel chosen to represent any Indemnitee pursuant to the previous sentence
shall be reasonably satisfactory to Borrower. The obligations of Borrower under
this Section shall survive the termination of this Agreement.

     11.13 Waiver of Right to Trial by Jury. EACH PARTY TO THIS AGREEMENT HEREBY
           --------------------------------
EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS

<PAGE>

OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT, OR THE
TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY
HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO
THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH
ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE
WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

           IN WITNESS WHEREOF, this Agreement has been executed by the parties
hereto in _____________, _______________ as of the date first hereinabove
written.

                                        HUGHES ELECTRONICS CORPORATION

                                        By: ____________________________________
                                        Name:
                                        Title:

                                        GENERAL MOTORS ACCEPTANCE CORPORATION

                                        By: ____________________________________
                                        Name:
                                        Title:

<PAGE>

                                    EXHIBIT A
                                  LOAN REQUEST

TO:            General Motors Acceptance Corporation

FROM:          Hughes Electronics Corporation

DATE:

RE:            Hughes Electronics Corporation - Revolving Credit Agreement

Gentlemen:

               1.   We refer to the Revolving Credit Agreement dated as of
October 1, 2001, and made between Hughes Electronics Corporation and General
Motors Acceptance Corporation (the "Agreement"). Terms defined in the Agreement
shall have the same meaning herein.

               2.   We hereby request that a Loan is made to us (which Loan
shall constitute an advance pursuant to the $_____ Loan) at Bank of America,
Concord, CA, ABA # 121000358, Account #123560-6628 as follows:

               (i)  Principal Amount:

               (ii) Borrowing Date:

               3.   For the purposes of inducing the Lender to make the Loan
requested herein, we confirm that, pursuant to Section 5.2 of the Agreement, as
of the date hereof:

               (i)  to the best of the knowledge of the undersigned, the
                    representations and warranties set out in Section 6 of the
                    Agreement are true and correct in all material respects;

               (ii) the most current financial statements delivered pursuant to
                    Section 7.5 of the Agreement present fairly the financial
                    position and results of operation and changes in financial
                    position of Borrower and its consolidated Subsidiaries as at
                    the end of, and for the fiscal period to which such
                    statements relate as of the date thereof (subject, in the
                    case of unaudited financial statements, to year end
                    adjustments); and

                                      A-1

<PAGE>

               (iii) to the best of the knowledge of the undersigned, no Event
                     of Default or Unmatured Event of Default has occurred and
                     is continuing.

                                             HUGHES ELECTRONICS CORPORATION

                                             By: ______________________________
                                             Name:
                                             Title:

                                       A-2

<PAGE>

                                    EXHIBIT B
                                 EXISTING LIENS

PanAmSat
       $124,000,000.00 Floating Rate Note secured by transponders of Galaxy
       III-R due

Galaxy Latin America
       $95,000.00 Capital Lease of AT&T Telephone Switch

Hughes
       Share pledge of Hughes' ownership interest in Hughes Tele.Com India
       Limited (approximate market value $79,000,000.00) supporting a rupee
       denominated bridge loan from ICICI (the lender) to Hughes Tele.Com
       India Limited

                                      B-1

<PAGE>

                                    EXHIBIT C
                               OPINION OF COUNSEL

                                                       ___________________, 2001

To:       General Motors Acceptance Corporation

     Re:       Hughes Electronics Corporation
               Revolving Credit Agreement
               --------------------------
Gentlemen:

     I am the Assistant General Counsel of Hughes Electronics Corporation, a
Delaware corporation (the "Borrower"), in connection with the extension to
Borrower of a revolving line of credit extended under and subject to the terms
and provisions of a Revolving Credit Agreement dated as of October 1, 2001 (the
"Credit Agreement") by and between Borrower and General Motors Acceptance
Corporation (the "Lender"). Capitalized terms not otherwise defined herein shall
have the meanings set forth in the Credit Agreement. This opinion is rendered to
you pursuant to Section 5.2(b) of the Credit Agreement. In addition, I have
reviewed the Loan Set-Off and Security Agreement, the Note, and the Financing
Statement. For convenience, the Credit Agreement, the Loan Set-Off and Security
Agreement and the Note are sometimes collectively referred to herein as the
"Loan Documents".

     As Assistant General Counsel to Borrower, I have caused to be made such
legal and factual examinations and inquiries, including an examination of
originals or copies, certified or otherwise identified to my satisfaction as
authentic, of such corporate records, agreements, instruments and other
documents as I have deemed necessary or appropriate for the purposes of this
opinion. I have caused to be obtained such certificates and other assurances
(copies of which have been delivered to you) from public officials and officers
and other employees of Borrower as I considered necessary or appropriate for the
purpose of rendering this opinion. I have assumed the genuineness of all
signatures (except that of Borrower), the authenticity of all documents
submitted to me as originals, and the conformity with the originals of all
documents submitted to me as copies.

     Subject to the limitations herein set forth, I am opining herein as to the
effect on the subject transaction only of United States federal law, the laws of
the State of California and the General Corporation Law of the State of
Delaware. I am licensed to practice law in the State of California. To the
extent that any of the matters upon which I am opining hereon are governed by
laws ("Other Laws"), other than the laws identified in the preceding sentence, I
have assumed with your permission and without independent verification or
investigation as to the reasonableness of such assumption, that such Other Laws
and the judicial interpretation thereof do not vary in any respect material to
this opinion from the corresponding laws of the State of California and judicial
interpretation thereof.

                                      C-1

<PAGE>

     Based upon the foregoing and in reliance thereon, and subject to the
qualifications, limitations and assumptions set forth herein, I am of the
opinion that, as of the date hereof:

          1. Borrower is a corporation duly incorporated and validity existing
as a corporation in good standing under the laws of the State of Delaware, with
full corporate power and authority to own and lease its properties and conduct
its business as presently owned and conducted.

          2. Borrower has full corporate power and authority to borrow the sums
provided for in the Credit Agreement, to execute and deliver the Financing
Statement and Loan Documents and to perform its obligations thereunder.

          3. All corporate action required to be taken by Borrower for the
authorization, execution and delivery of the Financing Statement and Loan
Documents by Borrower and the performance by Borrower of its obligations
thereunder has been duly taken.

          4. The officer of Borrower executing the Financing Statement and Loan
Documents is duly and properly in office and duly authorized to execute the
same.

          5. The Loan Documents are legal, valid and binding agreements of
Borrower, subject to the limitations, qualifications, exceptions and assumptions
set forth below.

          6. To my knowledge, after causing to be conducted such legal and
factual examination and inquiries and causing to be conducted such discussions
with and obtaining such certificates or other confirmations from officers and
other employees of Borrower as I considered appropriate in the circumstances, no
consent, permission, authorization, order or license of any United States
federal or California governmental authority is necessary in connection with the
execution and delivery of the Financing Statement and the Loan Documents by
Borrower and Borrower's performance of its obligations under the Loan Documents.

          7. There is no provision of the Certificate of Incorporation or the
By-laws of Borrower which would be contravened by the execution and delivery of
the Financing Statement or Loan Documents by Borrower or by the performance by
Borrower of its obligations under the Loan Documents.

          8. Borrower is not an "investment company" as defined in the
Investment Company Act of 1940, as amended.

          9. To my knowledge, after causing to be conducted such legal and
factual examination and inquiries and causing to be conducted such discussions
with and obtaining such certificates or other confirmations from officers and
other employees of Borrower as I considered appropriate in the circumstances, no
consent or approval of any trustee or holder of any material indebtedness of
Borrower is necessary in connection with the execution and delivery of the
Financing Statement or Loan Documents by Borrower and Borrower's performance of
its obligations under the Loan Documents.

                                      C-2

<PAGE>

          10. There is no provision of any indenture or material agreement for
borrowed money to which Borrower is a party or under which Borrower is
obligated, and of which I am aware, after causing to be conducted such legal and
factual examinations and inquiries and causing to be conducted such discussion
with and obtaining such certificates or other confirmations from officers and
other employees of Borrower as I considered appropriate in the circumstances,
which would be contravened by the execution and delivery of the Financing
Statement, the Loan Documents by Borrower or by the performance by Borrower of
its obligations under the Loan Documents.

          11. To my knowledge, after causing to be conducted such legal and
factual examinations and inquiries and causing to be conducted such discussions
with and obtaining such certificates or other confirmations from officers and
other employees of Borrower as I considered appropriate in the circumstances,
there is no judgment, decree or order of any court or governmental agency
binding on Borrower which would be contravened by the execution and delivery of
the Financing Statement or Loan Documents by Borrower and Borrower's performance
of its obligations under the Loan Documents.

          12. To my knowledge, after causing to be conducted such legal and
factual examinations and inquiries and obtaining certificates or other
confirmations from officers and employees of Borrower as I considered
appropriate in the circumstances, except as set forth in Attachment 1 hereto,
there is no claim, suit, action or proceeding pending against Borrower before
any court or governmental agency in which there is a specific claim, including
environmental matters, in excess of $75,000,000.

          14. The Loan Set-Off and Security Agreement creates in favor of the
Lender, as security for the obligations of the Borrower under the Loan
Documents, a security interest in the right, title and interest of the Borrower
in the Credit Balance Account.

          15. The Financing Statement is in proper form for filing. Upon the
filing of the Financing Statement with the Delaware Secretary of State, the
Lender will have a valid and perfected security interest in all right, title and
interest of the Borrower in the Credit Balance Account.

          The opinion expressed in paragraph 6 is subject to the following
limitations, qualifications, exceptions and assumptions:

          (a) the enforcement of the Loan Documents may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws or by
equitable principles relating to or limiting the rights of creditors generally;

          (b) the use of the term enforceable shall not imply any opinion as to
the availability of equitable remedies;

          (c) I advise you that a California court may not strictly enforce
certain covenants contained in the Credit Agreement or allow acceleration of the
maturity of the indebtedness thereunder if it concludes that such enforcement or
acceleration would be unreasonable under the then existing circumstances. I do
believe, however, that subject to the

                                      C-3

<PAGE>

limitations expressed elsewhere in this opinion, enforcement or acceleration
would be available if an Event of Default occurs as a result of a material
breach of a material covenant contained in the Credit Agreement. Further,
certain rights, remedies and waivers contained in the Credit Agreement may be
limited or rendered ineffective by applicable California laws or judicial
decisions governing such provisions, but such laws or judicial decisions do not
render the Credit Agreement invalid as a whole;

          (d) The effect of California court decisions, invoking statutes or
principles of equity, which have held that certain covenants and provisions of
agreements are unenforceable where (i) the breach of such covenants or
provisions imposes restrictions or burdens upon the debtor, including the
acceleration of indebtedness due under debt instruments, and it cannot be
demonstrated that the enforcement of such restrictions or burdens is reasonably
necessary for the protection of the creditor, or (ii) the creditor's enforcement
of such covenants or provisions under the circumstances would violate the
creditor's implied covenant of good faith and fair dealing;

          (e) The unenforceability under certain circumstances, under California
or federal law or court decisions, of provisions expressly or by implication
waiving broadly or vaguely stated rights, unknown future rights, defenses to
obligations or rights granted by law, where such waivers are against public
policy or prohibited by law;

          (f) The unenforceability under certain circumstances of provisions to
the effect that rights or remedies are not exclusive, that every right or remedy
is cumulative and may be exercised in addition to or with any other right or
remedy, that election of a particular remedy or remedies does not preclude
recourse to one or more other remedies or that failure to exercise or delay in
exercising rights or remedies will not operate as a waiver of any such right or
remedy;

          (g) The effect of Section 1717 of the California Civil Code, which
provides that, where a contract permits one party to the contract to recover
attorneys' fees, the prevailing party in any action to enforce any provision of
the contract shall be entitled to recover its reasonable attorneys' fees;

          (h) The unenforceability under certain circumstances of provisions
indemnifying a party against liability for its own wrongful or negligent acts or
where such indemnification is contrary to public policy or prohibited by law;
and

          (i) The enforceability under certain circumstances of provisions
imposing penalties, forfeitures, late payment charges or an increase in interest
rate upon delinquency in payment or the occurrence of a default.

          To the extent that the obligations of Borrower may be dependent upon
such matters, I assume for purposes of this opinion that Lender is duly
incorporated or organized, validly existing and in good standing under the laws
of its jurisdiction of incorporation or organization; that Lender is duly
qualified to engage in the transaction covered by this opinion; that the Loan
Documents have been duly authorized, executed and delivered by Lender and that
the Loan Documents constitute the legal, valid and binding obligation of Lender,
enforceable in

                                      C-4

<PAGE>

accordance with its terms; and that Lender has the requisite corporate or
organizational and legal power and authority to own its properties, to carry on
its business as now being conducted and to perform its obligations under the
Loan Documents, including without limitation, to make the loans under the Credit
Agreement. I am not expressing any opinion as to the effect of or the compliance
by Lender with any state or federal laws or regulations applicable to the
transactions because of the nature of its respective business.

          This opinion is rendered to the Lender and is solely for their benefit
in connection with the above transaction. This opinion may not be relied upon by
the Lender for any other purpose, or furnished to, quoted to or relied upon by
any other person, firm or corporation for any purpose without my prior written
consent.

                                Very truly yours,

                                      C-5

<PAGE>

                       ATTACHMENT 1 TO OPINION OF COUNSEL

                                       C-6

<PAGE>

                                   LITIGATION

As set forth in the Opinion of Counsel of approximate even date herewith
provided by the Assistant General Counsel of Hughes Electronics Corporation.

<PAGE>

                                    EXHIBIT D

                        [FORM OF COMPLIANCE CERTIFICATE]

                             COMPLIANCE CERTIFICATE

THE UNDERSIGNED HEREBY CERTIFY THAT:

          (1)   I am the duly elected [Title] and [Title] of Hughes Electronics
          Corporation, a Delaware corporation ("Borrower");

          (2)   I have reviewed the terms of that certain Revolving Credit
          Agreement dated as of October 1, 2001, as amended, supplemented or
          otherwise modified to the date hereof (said Revolving Credit
          Agreement, as so amended, supplemented or otherwise modified, being
          the "Credit Agreement", the terms defined therein and not otherwise
          defined in this Certificate (including Attachment No. 1 annexed hereto
          and made a part hereof) being used in this Certificate as therein
          defined), by and between Borrower and Lender, and I have made, or have
          caused to be made under my supervision, a review in reasonable detail
          of the transactions and condition of Borrower and its Subsidiaries
          during the accounting period covered by the attached financial
          statements; and

          (3)   The examination described in paragraph (2) above did not
          disclose, and I have no knowledge of, the existence of any condition
          or event which constitutes an Event of Default or Unmatured Event of
          Default during or at the end of the accounting period covered by the
          attached financial statements or as of the date of this Certificate[,
          except as set forth below].

[Set forth [below] [in a separate attachment to this Certificate] are all
exceptions to paragraph (3) above listing, in detail, the nature of the
condition or event, the period during which it has existed and the action which
Borrower or any of its Subsidiaries, as applicable, has taken, is taking, or
proposes to take with respect to each such condition or event:

_______________________________________________________________________________]

                                       D-1

<PAGE>

The foregoing certifications, together with the computations set forth in
Attachment No. 1 annexed hereto and made a part hereof and the financial
statements delivered with this Certificate in support hereof, are made and
delivered this __________ day of _____________, ____ pursuant to subsection
7.5(d) of the Credit Agreement.

DATED:__________________________      HUGHES ELECTRONICS CORPORATION

                                      By:____________________________
                                      Name:
                                      Title:

                                       D-2

<PAGE>

                                ATTACHMENT NO. 1
                            TO COMPLIANCE CERTIFICATE

This Attachment No. 1 is attached to and made a part of a Compliance Certificate
dated as of ____________, ____ and pertains to the period from ____________,
____ to ____________, ____. Subsection references herein relate to subsections
of the Credit Agreement.

<TABLE>
<S>                                                                                <C>
A.    Maximum Leverage Ratio (for the four-fiscal quarter period ending
      _________, ____)

1.    Outstanding principal amount of all obligations
      and liabilities for borrowed money:                                          $____________

2.    Portion of obligations with respect to capital leases
      that are capitalized in excess of $25,000,000:                               $____________

3.    Consolidated Funded Indebtedness (1+2):                                      $____________

4.    Principal balance in Credit Balance Account as of end of quarter:            $____________

5.    Cash and cash equivalents as of end of quarter:                              $____________

6.    Net Consolidated Funded Indebtedness (3 - 4 - 5):                            $____________

7.    Consolidated Net Income:                                                     $____________

8.    Consolidated Interest Charges/(Income):                                      $____________

9.    Provisions for taxes/(benefit), if any, based on income used
      or included in determining of 7:                                             $____________

10.   Total depreciation and amortization expense deducted in determining 7:       $____________

11.   Amount, if any, of the non-cash charge taken in connection with the          $____________
      write-off of the equity investment in Sky Perfect Communications, Inc.:

12.   Amount, if any, of the noncash component of any unusual or nonrecurring      $____________
      item of loss or expense to the extent used or included in the
      determination of 7 above, provided that with respect to accruals or
                                --------
      reserves for future cash disbursements, such future cash disbursements
      shall be deducted in the fiscal period in which such cash disbursement is
      made:

13.   Amount, if any, of the noncash component of any unusual or nonrecurring      $____________
      item of gain or income to the extent used or included
</TABLE>

                                       D-3

<PAGE>

<TABLE>
<S>                                                                                <C>
      in the determination of 7 above:

14.   Consolidated EBITDA (7+8+9+10+11+12-13):                                     $_____________

15.   Leverage Ratio (6):(14):                                                     _____:1.00

16.   Maximum ratio allowed under subsection 8.5(b):                               6.5:1.00

B.    Minimum Stockholder's Equity

1.    Base Stockholder's Equity:                                                   $9,295,000,000

2.    50% of consolidated net income (as determined in accordance with  GAAP)
      earned in each fiscal quarter ending after December 31, 2000 (with no
      deduction for a net loss in any such fiscal quarter):                        $_____________

3.    50% aggregate increase in Equity by reason of Borrower's issuance of
      capital stock:                                                               $_____________

4.    Minimum Stockholder's Equity (1+2+3):                                        $_____________

5.    Stockholder's Equity:                                                        $_____________
</TABLE>

                                       D-4

<PAGE>

                                                                Exhibit 10.23(b)
                       LOAN SET-OFF AND SECURITY AGREEMENT
                       -----------------------------------

         THIS LOAN SET-OFF AND SECURITY AGREEMENT ("Agreement") is entered into
as of October 1, 2001 (the "Signing Date") between HUGHES ELECTRONICS
CORPORATION, a corporation organized and existing under the laws of Delaware
("Borrower"), and GENERAL MOTORS ACCEPTANCE CORPORATION, a corporation organized
under the laws of Delaware ("GMAC").

                                 R E C I T A L S
                                 ---------------

         WHEREAS, GMAC has entered into a Revolving Credit Agreement with
Borrower of approximate even date herewith to provide financing to Borrower for
which interest is earned and payable to GMAC from time to time (the "Credit
Agreement");

         WHEREAS, all capitalized terms not defined herein have the meanings
given to them in the Credit Agreement;

         WHEREAS, Borrower wishes to deliver money to GMAC, from time to time,
in order to induce GMAC to extend credit to the Borrower pursuant to the Credit
Agreement;

         NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, Borrower and GMAC agree as follows

                                    AGREEMENT
                                    ---------

         1.    Credit Balance Account. Borrower may, at its election, deliver
               ----------------------
good funds to GMAC, up to a maximum amount of $1.5 billion, to be held solely
as collateral security for Borrower's obligations under the Credit Agreement and
the $1.5 Billion Promissory Note (the "Obligations") and GMAC will hold and
account to Borrower for the total of these funds (the "Credit Balance Account").

         2.    Increases to Credit Balance Account. Borrower may, on any
               -----------------------------------
Business Day, increase the Credit Balance Account by any amount not less than at
least $5,000,000 with multiple integrals of $1,000,000 in excess thereof.
Increases received by GMAC in immediately available funds at or prior to 12:00
p.m. Detroit time will be added to the Credit Balance Account on the same
Business Day. Increases received in other than immediately available funds will
be added to the Credit Balance Account when good funds become available for use
by GMAC.

         3.    Repayment of Credit Balance Account. Borrower will only be
               -----------------------------------
entitled to repayment of all or a portion of the Credit Balance Account if
(a)(i) it directs GMAC to apply all funds in the Credit Balance Account to
repayment of the Obligations and (ii) the Commitment has been terminated or
(b)(i) Borrower has provided written notice to GMAC by 11 a.m. Detroit time at
least 5 Business Days prior to repayment (unless such repayment is on calendar
quarter end, then written notice must be received by GMAC by 11 a.m. Detroit
time at

<PAGE>

least 10 Business Days prior to repayment), (ii) all of the Obligations are
fully and finally repaid as of the date of GMAC's repayment of all or a portion
of the Credit Balance Account, and (iii) the Commitment has been terminated.
Except upon termination of this Agreement, the minimum payment must be at least
$5,000,000 with multiple integrals of $1,000,000 in excess thereof. Requests
received after 12:00 p.m. Detroit time will be honored on the next Business Day.

         4.    Credit Balance Account Rate. On each Interest Payment Date, GMAC
               ---------------------------
will pay Borrower interest accruing on the Credit Balance Account since the
previous Interest Payment Date calculated for each calendar month by multiplying
the daily amount in the Credit Balance Account by the Credit Balance Account
Rate for such month (the "Applicable Interest Credit"). The "Credit Balance
Account Rate" means a rate equal to: (i) GMAC's monthly average total cost of
funds for 30-day commercial paper (on a 360 day basis); provided, that at any
time when GMAC's commercial paper is not rated at least A-1 by Standard & Poor's
Ratings Services ("S&P") and P-1 by Moody's Investors Service, Inc. ("Moody's"),
GMAC may, at its option, elect to use the monthly average total cost of issuing
30-day commercial paper (including, without limitation, interest or discount
liquidity costs and other fees) by New Center Asset Trust or such other index as
GMAC reasonably determines to represent the lowest total cost source that is
directly or indirectly available for significant short-term funding by GMAC,
divided by, (ii) 360. Each month's Credit Balance Account Rate will be
calculated using the calendar days beginning on the 26/th/ of the month prior to
the month for which the rate is calculated and ending with the 25/th/ day of the
month for which the rate is calculated. All calculations with regard to
determination of the Credit Balance Account Rate shall be as determined by GMAC
in its sole and exclusive discretion.

         5.    Set-Off for Interest. On each Interest Payment Date, GMAC will
               --------------------
set-off against interest due under the Note the Applicable Interest Credit to
the extent permitted by applicable law. If the Applicable Interest Credit with
respect to any Interest Payment Date exceeds the interest due GMAC on that date
or, if the Applicable Interest Credit has not been set-off against interest due
under the Note, the excess will be added to the principal balance of the Credit
Balance Account.

         6.    Commingling. GMAC may commingle the funds in the Credit Balance
               -----------
Account with other funds of GMAC and use them in the ordinary course of its
business.

         7.    Drawing on Credit Balance Account to Repay Obligations. On the
               ------------------------------------------------------
Termination Date or in the event Borrower exercises its rights pursuant to
Section 3, GMAC will set-off against the Credit Balance Account the lesser of
the full amount of the Obligations then due and owing and the then balance of
the Credit Balance Account, to the extent permitted by applicable law. Upon
prior written request of Borrower, GMAC shall set-off against the Credit Balance
Account any outstanding Obligations at such time to the extent of the balance of
the Credit Balance Account on such date. To the extent that such set-off is
requested by the Borrower, the Borrower shall be entitled to request additional
advances not to exceed the available amount of the Commitment pursuant to
Article 2 of the Credit Agreement, subject to the terms and conditions of the
Credit Agreement, including but not limited to the conditions precedent
specified in Section 5.3. This provision does not alter any

                                       2

<PAGE>

obligation to pay GMAC when and in the amounts required under the Credit
Agreement, and GMAC has no duty to notify Borrower of any delinquency
thereunder.

         8.    Grant of Security Interest. Borrower hereby grants GMAC a
               --------------------------
security interest in all right, title, and interest of the Borrower in, to and
under this Agreement, the Credit Balance Account created hereunder, all interest
paid or payable on such Credit Balance Account, all other rights of the Borrower
under or in connection with any of the foregoing, and all proceeds of any of the
foregoing and acknowledges and agrees that the Credit Balance Account and the
other collateral hereunder constitutes collateral to secure payment of the
Obligations. GMAC has such rights to the Credit Balance Account and remedies for
default on the Obligations as may be afforded by the Credit Agreement and/or
applicable law including, without limitation, the right of set-off described in
Section 9.2 of the Credit Agreement. The security interest in the Credit Balance
Account is in addition to any other rights of GMAC against the Borrower,
including without limitation, the rights of recoupment and set-off. GMAC is
authorized to file financing statements in such form and in such jurisdictions
as it may reasonably consider appropriate in connection with such security
interest. Borrower represents that it has not sold, conveyed or transferred and
will not sell, convey or transfer any interest in the Credit Balance Account to
any third party.

         9.    Electronic Communication. GMAC and Borrower may implement this
               ------------------------
Agreement by conducting business with the non-exclusive use of electronic,
computer, digital, or other paperless means, including the good faith reliance
on electronic mail, facsimile transmittal, telephonic, or other usual and
regular forms of communication by GMAC with or without confirmation or
authentication of the communication by receipt of an original signature,
document, paper, or otherwise.

         10.   Assignment. This Agreement shall bind and inure to the benefit of
               ----------
the parties hereto and their respective successors and permitted assigns. No
party hereto may assign or transfer all or any part of its rights and
obligations hereunder, except that:

               (a)   GMAC may at any time assign and delegate to one or more of
its Affiliates or securitization entities administered by GMAC (each an
"Assignee"), all of its rights and obligations under this Agreement.

               (b)   Borrower authorizes GMAC to disclose to any Assignee or
prospective Assignee any and all information in GMAC's possession concerning
Borrower or this Agreement, subject to confidentiality agreements.

         11.   Severability. Any provision of this Agreement which is prohibited
               ------------
by law is ineffective to the extent of those prohibitions, but does not
invalidate the remaining provisions of this Agreement.

         12.   Termination. Either party may terminate this Agreement after
               -----------
giving 10 days advance written notice to the other provided all of the
Obligations have been fully and finally repaid to GMAC at that time. The
execution of this Agreement by GMAC and Borrower

                                       3

<PAGE>

replaces all previously executed agreements between them of substantially
similar nature and type, effective the date first written above.

         13. Notices. All notices required under this Agreement shall be made in
             -------
accordance with the notice provision contained in the Credit Agreement.

         14. GOVERNING LAW. THE INTERPRETATION, ENFORCEMENT AND EFFECT OF THIS
             -------------
AGREEMENT SHALL BE GOVERNED AND CONTROLLED IN ALL RESPECTS BY AND CONSTRUED
ACCORDING TO THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK, TO THE JURISDICTION
OF WHOSE COURTS THE PARTIES HERETO HEREBY AGREE TO SUBMIT. BORROWER WAIVES ANY
OBJECTION BASED ON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON
CONVENIENS, WITH REGARD TO ANY ACTIONS, CLAIMS, DISPUTES OR PROCEEDINGS RELATING
TO THIS AGREEMENT, OR ANY OTHER DOCUMENT DELIVERED HEREUNDER OR IN CONNECTION
HEREWITH, OR ANY TRANSACTION ARISING FROM OR CONNECTED TO ANY OF THE FOREGOING.
BORROWER WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT, AND CONSENTS TO
ALL SUCH SERVICE OF PROCESS MADE BY MAIL OR BY MESSENGER DIRECTED TO IT AT THE
ADDRESS SPECIFIED IN THE CREDIT AGREEMENT. NOTHING HEREIN SHALL AFFECT THE RIGHT
OF GMAC TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW, OR LIMIT THE RIGHT OF
GMAC TO BRING PROCEEDINGS AGAINST BORROWER OR ITS PROPERTY OR ASSETS IN THE
COMPETENT COURTS OF ANY OTHER JURISDICTION OR JURISDICTIONS.

         15. WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO THIS AGREEMENT
             --------------------------------
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION
OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR
TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT
A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE
SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

         16. Headings. The headings set forth herein are solely for the purpose
             --------
of identification and shall not be construed as a part of the sections or
subsections which they head.

                                       4

<PAGE>

           Duly executed as of the date first written above.

                                      HUGHES ELECTRONICS CORPORATION

                                      By:_______________________________________
                                      Name:
                                      Title:

                                      GENERAL MOTORS ACCEPTANCE
                                      CORPORATION

                                      By:_______________________________________
                                      Name:
                                      Title:

                                       5

<PAGE>

---------------------- REVISION LIST ----------------------

The bracketed numbers refer to the Page and Paragraph for the start of the
paragraph in both the old and the new documents.

[1:9 1:9] Changed      "$2" to "$1.5"
[1:9 1:9] Changed      "held as" to "held solely as"
[1:9 1:9] Changed      "and Note" to "and $1.5 Billion Promissory Note"
[1:11 1:11] Changed    "will only be" to "will be"
[1:11 1:11] Changed    "(a) Borrower" to "(a)(i) it ... (b)(i) Borrower"
[1:11 1:11] Changed    "(b)" to "(ii)"
[1:11 1:11] Changed    "(c)" to "(iii)"
[2:4 2:4] Changed      "Date," to "Date or in ... Section 3,"
[2:4 2:4] Changed      "Upon 5 days prior" to "Upon prior"
[2:4 2:4] Changed      "draw" to "set-off"
[2:4 2:4] Changed      "Account to settle any" to "Account any"
[2:4 2:4] Changed      "any time" to "such time ... Section 5.3"
[2:14 4:3] Changed     "Jury.
     EACH" to "Jury. EACH"
[2:18 5:2] Changed     "ELECTRONICS CORPORATION" to "ELECTRONICS"
[2:19 5:2] Changed     "By" to "CORPORATIONBy"
[2:20 5:2] Del Paras   "[Signatures continued ... preceding page]"
[3:2 5:2] Changed      "ACCEPTANCE CORPORATION" to "ACCEPTANCE "
[3:3 5:2] Changed      "By" to "CORPORATIONBy"

                                       6

<PAGE>

This redlined draft, generated by CompareRite (TM) - The Instant Redliner, shows
the differences between -
original document   : C:\SYSUTILS\FLCONV\FLTEMP.DOC
and revised document: C:\SYSUTILS\FLCONV\FLTEMP2.DOC

CompareRite found   16 change(s) in the text

Deletions appear as Overstrike text
Additions appear as Bold+Dbl Underline text

                                       7

<PAGE>

                                                                Exhibit 10.23(d)

                             INTERCREDITOR AGREEMENT

     THIS INTERCREDITOR AGREEMENT dated as of February __, 2002 (this
"Agreement") is by and among
 ---------
           GENERAL MOTORS ACCEPTANCE CORPORATION, a Delaware corporation
     (including successors and assigns, "GMAC");
                                         ----
           BANK OF AMERICA, N.A. (including successors and assigns), as
     administrative agent under the Bank Credit Agreement (in such capacity, the
     "Administrative Agent");
      --------------------

           BANK OF AMERICA, N.A. (including successors and assigns), as
     collateral agent under the Collateral Documents (in such capacity, the
     "Collateral Agent"); and
      ----------------

           HUGHES ELECTRONICS CORPORATION, a Delaware corporation (including
     successors and assigns, the "Company").
                                  -------

                               W I T N E S S E T H

     WHEREAS, a $750 million revolving credit facility (the "Bank Credit
                                                             -----------
Facility") has been established in favor of the Company pursuant to the terms of
--------
that Amended and Restated Revolving Credit Agreement (Multi-Year Facility) dated
as of November 24, 1999 (as amended, modified, supplemented, increased,
extended, restated or replaced, the "Bank Credit Agreement") among the Company,
                                     ---------------------
as borrower, the financial institutions identified therein, as lenders (the
"Banks"), and Bank of America, N.A., as administrative agent;
 -----

     WHEREAS, the Company has agreed to a merger (the "Proposed Merger") with
                                                       ---------------
EchoStar Communications Corporation, a Nevada corporation ("EchoStar"), pursuant
                                                            --------
to the terms of that Agreement and Plan of Merger made and entered into as of
October 28, 2001, by and between EchoStar and the Company, as amended from time
to time;

     WHEREAS, GMAC has agreed to provide at least $2 billion in financing to the
Company (the "GMAC Credit Facility"), pursuant to the terms of that Revolving
              --------------------
Credit Agreement dated as of October 1, 2001 (as amended and modified by a First
Amendment dated February __, 2002, and as may hereafter be amended and modified
in accordance with this Agreement, the "GMAC Credit Agreement") between the
                                        ---------------------
Company, as borrower, and GMAC, as lender, consisting of up to $500 million in
revolving credit financing evidenced by a promissory note in the principal
amount of $500 million (as amended and modified, the "GMAC Shared Collateral
                                                      ----------------------
Note") to be secured by the same collateral securing the Bank Credit Facility
----
and the remaining amount of such financing evidenced by a promissory note in the
principal amount of $1.5 billion (as amended and modified, the "GMAC Cash
                                                                ---------
Secured Note") secured by funds advanced by the Company to GMAC pursuant to that
------------
certain Loan Set-Off and Security Agreement dated as of October 1, 2001, (as
amended and modified, the "GMAC Security Agreement"), with such funds being held
                           -----------------------
on deposit in the Credit Balance Account (as defined below), such Credit Balance
Account being pledged for the exclusive benefit of GMAC;

     WHEREAS, in connection with and anticipation of the Proposed Merger the
lenders under the Bank Credit Agreement have agreed to an amendment to the Bank
Credit Facility

<PAGE>

providing for, among other things, an increase in the aggregate amount of
commitments thereunder to up to $2.0 billion and delivery of subsidiary
guaranties and collateral; and

     WHEREAS, except as specifically provided herein with respect to (i)
permitted dispositions of Shared Collateral as provided in Section 2.5 and (ii)
voting and other participatory rights with respect to intercreditor arrangements
in bankruptcy as provided in Section 2.8, the lenders under the Bank Credit
Facility have agreed to provide the GMAC Shared Collateral Debt (as defined
below) pari passu rights with respect to the collateral securing the Bank Credit
Facility; and

     NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1.   Definitions.
          -----------

          (a) Definitions. Terms used herein but not otherwise defined herein
              -----------
     shall have the meanings provided to such terms in the Bank Credit
     Agreement. As used herein:

          "Bank Debt" means all loans and obligations (including principal,
           ---------
     interest, fees, indemnities and all other amounts, and including interest
     accruing after commencement of a proceeding in bankruptcy, reorganization
     or insolvency, whether or not allowable as a claim), whether now or
     hereafter outstanding or incurred, owing under the Bank Credit Agreement
     and the other Loan Documents relating thereto (as referenced and defined
     therein), including guaranty obligations, if any, given in respect of the
     loans and obligations owing under the Bank Credit Agreement and the other
     Loan Documents relating thereto, in each case as amended, modified,
     supplemented, increased, extended, renewed or replaced; provided that in no
     event shall the principal amount of the Bank Debt exceed an amount equal to
     $2 billion and interest thereon, minus the amount of the proceeds of any
     Shared Collateral or other amounts applied, directly or indirectly, in
     permanent reduction of the Bank Debt pursuant to any mandatory prepayment
     provisions contained in the Bank Credit Agreement, without the consent of
     GMAC.

          "Bankruptcy Event" means, as to any Person, any voluntary or
           ----------------
     involuntary dissolution, winding-up, total or partial liquidation or
     reorganization, or bankruptcy, insolvency, receivership or other statutory
     or common law proceeding or arrangement involving such Person or the
     readjustment of its liabilities or any assignment for the benefit of
     creditors or any marshalling of assets or liabilities.

          "Collateral Documents" means any and all security agreements, pledge
           --------------------
     agreements, and other instruments and agreements establishing or otherwise
     giving effect to the liens and security interests in any collateral,
     including UCC financing statements and notice filings in respect of
     intellectual property, in each case as amended and modified.

                                       2

<PAGE>

                  "Credit Balance Account" means that account holding funds
                   ----------------------
         advanced to GMAC pursuant to the GMAC Security Agreement (and any funds
         so advanced to GMAC by the Company) and pledged to secure the GMAC
         Credit Facility as provided in the GMAC Credit Agreement.

                  "GMAC Shared Collateral Debt" means all loans and obligations
                   ---------------------------
         (including principal, interest, fees, indemnities and all other
         amounts, and including interest accruing after commencement of a
         proceeding in bankruptcy, reorganization or insolvency, whether or not
         allowable as a claim), whether now or hereafter outstanding or
         incurred, evidenced by the GMAC Shared Collateral Note, as amended,
         modified, supplemented, extended, renewed or replaced; provided,
                                                                --------
         however, in no event shall the principal amount of the GMAC Shared
         Collateral Debt exceed $500 million and interest thereon, minus the
         amount of the proceeds of any Shared Collateral or other amounts
         applied, directly or indirectly, in permanent reduction of the GMAC
         Shared Collateral Debt pursuant to the terms of the GMAC Credit
         Agreement, this Agreement or otherwise, without the consent of the
         Majority Banks.

                  "Other Guaranty Shared Collateral Debt" means those guaranty
                   -------------------------------------
         obligations of the Company in respect of loans, letters of credit
         reimbursement obligations and lines of credit extended to its
         subsidiaries as set forth on Schedule 8.1 B to the Bank Credit
                                      --------------
         Agreement by those Banks thereunder that have entered into an
         Intercreditor Agreement with the Administrative Agent and the
         Collateral Agent, in each case as amended, modified, supplemented,
         extended, renewed or replaced; provided, however, in no event shall the
                                        --------
         principal amount of the Other Guaranty Shared Collateral Debt exceed
         the sum of (i) $150 million and interest thereon minus (ii) the
         principal amount of permanent reductions in such obligations and any
         other permanent reductions in such obligations that are funded,
         directly or indirectly, with proceeds from the sale of Shared
         Collateral.

                  "Sharing Event" means either an acceleration of the Bank Debt,
                   -------------
         a termination of all outstanding commitments with respect to the Bank
         Debt (including, without limitation, on the occurrence of the
         Termination Date under the Bank Credit Agreement), the exercise of
         legal remedies by the Administrative Agent under the Bank Credit
         Agreement or the occurrence of a Bankruptcy Event relating to the
         Company.

         2.       Intercreditor Agreements.
                  ------------------------

         2.1      Collateral Interests. In connection with the establishment of
                  --------------------
the GMAC Credit Facility and the amendment of the Bank Credit Facility to
increase the commitments thereunder, it is agreed that:

                  (a)    GMAC Exclusive Collateral. The Company will provide to
                         -------------------------
         GMAC for its sole and exclusive benefit a lien on the Credit Balance
         Account as security for amounts outstanding under the GMAC Credit
         Facility; provided however that the principal amount of the Credit
         Balance Account shall not exceed $1.5 billion.

                  (b)    Shared Collateral. The Company will provide, and will
                         -----------------
         cause certain subsidiaries to provide, collateral interests in
         substantially all their personal property in

                                       3

<PAGE>

          which the collateral interests may be perfected by the filing of
          Uniform Commercial Code financing statements and in certain capital
          stock or other equity interests in certain subsidiaries (the "Shared
                                                                        ------
          Collateral" which term shall, for the avoidance of doubt, include all
          ----------
          collateral in which the Collateral Agent now or in the future has a
          lien pursuant to the Collateral Documents, except that such term will
          not include the capital stock of PAS unless the inclusion of such
          capital stock is consented to in writing by the Administrative Agent
          (or, if there is no Administrative Agent, the Majority Banks) and
          GMAC) as security for (i) the Bank Debt, (ii) the GMAC Shared
          Collateral Debt, (iii) the Other Guaranty Shared Collateral Debt, and
          (iv) obligations under those interest rate protection, foreign
          currency exchange agreements and similar agreements with lenders under
          the Bank Credit Agreement or with their affiliates identified on
          Schedule 2.1(b) or with the written approval of the Administrative
          Agent (or if there is no Administrative Agent, the Majority Banks) and
          GMAC (collectively, as more particularly described in the Collateral
          Documents, the "Shared Collateral Secured Obligations"). In each case,
                          -------------------------------------
          the liens and security interests in the Shared Collateral will be
          given as common shared liens and interests in favor of the Collateral
          Agent and shall rank pari passu for the ratable benefit of the holders
          of the Shared Collateral Secured Obligations. Notwithstanding anything
          contained herein or in any other agreement to the contrary, including
          but not limited to the Bank Credit Agreement and the Collateral
          Documents, the Credit Balance Account shall not be deemed Shared
          Collateral.

          2.2     Undertakings.
                  ------------

                  (a)  Limitation on GMAC Receipt of Other Collateral Interests.
                       --------------------------------------------------------
          GMAC will not request or accept any other collateral interests (other
          than the Credit Balance Account and the Shared Collateral) from the
          Company or any of its Subsidiaries in respect of the GMAC Credit
          Facility, unless such collateral interests are part of the Shared
          Collateral, without the consent of the Administrative Agent or the
          Majority Banks if there is no Administrative Agent.

                  (b)  Limitation on Banks' Receipt of Other Collateral
                       ------------------------------------------------
          Interests. The lenders under the Bank Credit Agreement will not
          ---------
          request or accept any other collateral interests (other than the
          Shared Collateral) from the Company or any of its Subsidiaries in
          respect of the Bank Credit Facility, unless such collateral interests
          are part of the Shared Collateral, without the consent of GMAC.

                  (c)  Limitation on Other Lenders' Receipt of Other Collateral
                       --------------------------------------------------------
          Interests. The Company agrees that it will not permit any other holder
          ---------
          of any Shared Collateral Secured Obligations (other than the lenders
          under the Bank Credit Agreement and GMAC) to receive any other
          collateral interests (other than the Shared Collateral) from the
          Company or any of its Subsidiaries in respect of the Shared Collateral
          Secured Obligations, unless such collateral interests are part of the
          Shared Collateral, without the consent of the Administrative Agent (or
          the Majority Banks, if there is no Administrative Agent) and GMAC.

                                       4

<PAGE>

                  (d) Limitation on Actions in respect of the GMAC Credit
                      ---------------------------------------------------
         Facility. Until the Bank Debt is paid in full and the
         -------
         commitments under the Bank Credit Agreement are terminated, GMAC will
         not

                      (i)   accelerate the maturity of the GMAC Credit Facility,
                  or otherwise cause such loans and obligations to become due
                  prior to their stated maturity, by mandatory prepayment or
                  otherwise, except on the occurrence of a Sharing Event;

                      (ii)  exercise any remedies, or take or acquiesce to any
                  action to seek enforcement of remedies, in respect of the
                  Shared Collateral, except with the consent of the
                  Administrative Agent or the Majority Banks if there is no
                  Administrative Agent; or

                      (iii) amend or modify the terms of the GMAC Credit
                  Agreement (except to the extent such amendment or modification
                  is made to provide GMAC the same terms and conditions provided
                  to the other Banks) in any manner adverse to the
                  Administrative Agent or the Banks, except with the consent of
                  the Administrative Agent or the Majority Banks if there is no
                  Administrative Agent.

                  (e) Notice. Until the GMAC Shared Collateral Debt is paid in
                      ------
         full and the commitment under the GMAC Credit Agreement is terminated,
         the Collateral Agent shall provide written notice to GMAC promptly
         after taking any action against the Shared Collateral.

                  (f) Further Assurances. Each of the parties to this Agreement
                      ------------------
         shall execute and deliver all additional documents, agreements and
         further assurances, and to do all acts and things as may be reasonably
         requested by another party, in order to carry out more effectively the
         intent and purposes of this Agreement.

         2.3      Credit Balance Account. The Administrative Agent, for itself
                  ----------------------
and on behalf of the lenders under the Bank Credit Agreement, hereby
acknowledges and agrees that they shall not have a security interest or lien
upon the Credit Balance Account and that to the extent any security interest in
the Credit Balance Account is provided to them pursuant to the Bank Credit
Agreement or any Collateral Documents, that such security interest shall be null
and void. Furthermore, the Administrative Agent, for itself and on behalf of the
lenders under the Bank Credit Agreement, agrees not to assert, demand, sue or
seek to enforce against the Company, by setoff or otherwise, any claim to all or
any portion of the Credit Balance Account.

         2.4      Proceeds of Collateral. All amounts received by GMAC, the
                  ----------------------
Collateral Agent or the Company in respect of the Shared Collateral after a
Sharing Event, including proceeds of a sale, transfer, setoff, or other
disposition of the Shared Collateral after, or as a result of, an exercise of
remedies by the Collateral Agent with respect to the Shared Collateral, shall in
all cases be remitted to the Collateral Agent for application to the Shared
Collateral Secured Obligations in the order shown below:

                                       5

<PAGE>

                           (i)      First, to payment of reasonable fees, costs
                  and expenses of the Collateral Agent incurred in connection
                  with the performance or execution of its duties as Collateral
                  Agent, in exercising or attempting to exercise any right or
                  remedy hereunder or under the Collateral Documents or in
                  taking possession of, protecting, preserving or disposing of
                  any item of Shared Collateral and all amounts against or for
                  which the Collateral Agent is to be indemnified or reimbursed
                  hereunder or under the Collateral Documents;

                           (ii)      Second, after payment in full of amounts
                  under clause (i), to the payment of the Shared Collateral
                  Secured Obligations ratably (including provision of 100% cash
                  collateral for the maximum amount of Letters of Credit and
                  unreimbursed drawings in respect of Letters of Credit) until
                  paid in full in cash;

                           (iii)     Third, after payment in full of amounts
                  under the foregoing clauses (i) and (ii), to the Company.

         2.5      Release and Disposition of Collateral. It is understood and
                  -------------------------------------
agreed that while the GMAC Shared Collateral Debt will be permitted to be
secured by the Shared Collateral with the other Shared Collateral Secured
Obligations, neither GMAC nor any holder of the GMAC Shared Collateral Debt
shall have the right to direct, consent or object to actions taken by the
Administrative Agent and Collateral Agent in accordance with this Agreement in
respect of the Shared Collateral or the Collateral Documents, including release,
subordination or disposition of the Shared Collateral, in whole or in part;
provided, however,except for the possible prior payment of the Bank Debt as
--------
provided below in this section 2.5, neither the Administrative Agent nor the
Collateral Agent shall take any action, including, by way of illustration, any
amendment to the Collateral Documents, which has the purpose or effect of
treating the GMAC Shared Collateral Debt in a manner different from the
treatment of the other Shared Collateral Debt or otherwise inconsistent with the
pro rata sharing of the Shared Collateral by all holders of the Shared
Collateral Debt. Except as and when required by the terms of Section 2.4 hereof,
proceeds of Shared Collateral shall be applied in accordance with the terms of
the Bank Credit Agreement or as otherwise agreed by the Majority Banks (which
application shall not require repayment of the amounts outstanding under the
GMAC Credit Facility). Further to that end, the Collateral Agent will take
action in respect of the Shared Collateral, including a release, subordination,
or other disposition of the Shared Collateral, in whole or in part, (i) first,
at the sole direction of the Administrative Agent (or if there is no
Administrative Agent, at the direction of the Majority Banks under the Bank
Credit Agreement) for the benefit of the Banks under the Bank Credit Agreement,
until such time as the Bank Debt has been paid in full and all commitments under
the Bank Credit Agreement and related loan documents shall have expired or
terminated, and (ii) then, at the direction of the holders of a majority in
interest of the obligations owing under the Shared Collateral Secured
Obligations (other than the GMAC Shared Collateral Debt), until such time as all
such obligations have been paid in full or otherwise satisfied and released and
all commitments relating thereto shall have expired or terminated, and (iii)
thereafter, at the sole direction of GMAC or the holders of the GMAC Shared
Collateral Debt. GMAC (including subsequent holders of the GMAC Shared
Collateral Debt) will execute and deliver promptly upon request any and all
releases and other documents

                                       6

<PAGE>

and any agreements that the Collateral Agent or the Administrative Agent may
deem necessary or appropriate to give effect to any release or disposition of
Shared Collateral free of the liens and interests of holders of the Shared
Collateral Secured Obligations, including the GMAC Shared Collateral Debt.

         2.6      Restrictions on Transfer of Shared Collateral Debt.
                  --------------------------------------------------

                  (a) GMAC will not transfer or assign any of, or sell
         participations in, the GMAC Shared Collateral Debt without causing the
         transferee, participant or assignee to execute a written acknowledgment
         agreeing to accept the terms and conditions of this Agreement.

                  (b) The Banks under the Bank Credit Agreement will not
         transfer or assign any of, or sell participations in, the Bank Debt
         without causing the transferee, participant or assignee to execute a
         written acknowledgement agreeing to accept the terms and conditions of
         this Agreement.

         2.7      Replacement of Collateral Agent. Bank of America, N.A. may
                  -------------------------------
resign as Collateral Agent under the Collateral Documents at any time on thirty
days written notice to GMAC after payment in full of the Bank Debt and
termination of the commitments thereunder. GMAC will arrange for a successor
Collateral Agent or act as Collateral Agent (or make other arrangements
reasonably acceptable to the other holders of the Shared Collateral Secured
Obligations).

         2.8      Intercreditor Arrangements in Bankruptcy.
                  ----------------------------------------

                  (a) This Agreement shall remain in full force and effect and
         enforceable pursuant to its terms in accordance with Section 510(a) of
         the Bankruptcy Code, and all references herein to the Company shall be
         deemed to apply to such entity as debtor in possession and to any
         trustee in bankruptcy for the estate(s) of such entity.

                  (b) Except as otherwise specifically permitted in this Section
         2.8, until all Shared Collateral Secured Obligations (other than the
         GMAC Shared Collateral Debt) have been paid in full in cash and
         satisfied and all commitments relating thereto have been terminated,
         GMAC shall not assert, or make any request or demand upon the
         Collateral Agent to assert, without the written consent of the
         Administrative Agent, any claim, motion, objection, or argument in
         respect of the Shared Collateral in connection with any Bankruptcy
         Event which could otherwise be asserted or raised in connection with
         such Bankruptcy Event by GMAC as a creditor and/or equity holder or
         affiliate of the Company, including without limitation any claim,
         motion, objection or argument seeking or opposing adequate protection
         or relief from the automatic stay in respect of the Shared Collateral.

                  (c) Without limiting the generality of the foregoing, GMAC
         agrees that if a Bankruptcy Event occurs, (i) the Administrative Agent
         and the Majority Banks (and the Collateral Agent on their behalf) may
         consent to the use of cash collateral (excluding the

                                       7

<PAGE>

Credit Balance Account) on such terms and conditions and in such amounts as
they, in their sole discretion, may decide without seeking or obtaining the
consent of GMAC as holder of an interest in the Shared Collateral; (ii) any of
the Banks may provide postpetition financing for the Company and its
Subsidiaries, in each case pursuant to Section 364 of the Bankruptcy Code or
other applicable law and on such terms and conditions and in such amounts as the
Banks, in their sole discretion, may decide without seeking or obtaining the
consent of GMAC as holder of an interest in the Shared Collateral and GMAC shall
not oppose such financing, (iii) GMAC shall not oppose the Company's or its
Subsidiaries' use of cash collateral (excluding the Credit Balance Account) on
the basis that their interest in the Shared Collateral is impaired by such use
or inadequately protected by such use to the extent such use has been approved
by the Administrative Agent and the Banks in their sole discretion; and (iv)
GMAC shall not oppose any sale or other disposition of any assets comprising
part of the Shared Collateral free and clear of security interests, liens or
other claims of any party, including GMAC, under Section 363 of the Bankruptcy
Code on the basis that the interest of GMAC in the Shared Collateral is impaired
by such sale or inadequately protected as a result of such sale if the
Administrative Agent with the consent of the Majority Banks has consented to
such sale or disposition of such assets. The Administrative Agent, the
Collateral Agent and GMAC each agree that they will not initiate, propose or
consent to action by a bankruptcy court to require or permit the Collateral
Agent to act in a manner inconsistent with the ratable administration of the
Shared Collateral as contemplated by Section 2.5 or the pari passu distribution
of proceeds required by Section 2.4 hereof.

     (d)     GMAC agrees that it will not initiate, prosecute, encourage, or
assist with any other person to initiate or prosecute any claim, action or
other proceeding (i) challenging the validity or enforceability of this
Agreement, (ii) challenging the validity, enforceability or unavoidability of
any claim of the Administrative Agent and the Banks with respect to the Shared
Collateral or otherwise, (iii) challenging the perfection, enforceability or
unavoidability of any liens securing the Shared Collateral Secured Obligations,
or (iv) asserting any claims which the Company or its Subsidiaries may hold with
respect to the Administrative Agent and the Banks or any of the Shared
Collateral Secured Obligations other than the GMAC Shared Collateral Debt, if
any.

     (e)     The Administrative Agent, for itself and on behalf of the lenders
under the Bank Credit Agreement, agrees that they will not initiate, prosecute,
encourage, or assist with any other person to initiate or prosecute any claim,
action or other proceeding (i) challenging the validity or enforceability of
this Agreement, (ii) challenging the validity, enforceability or unavoidability
of any claim of GMAC with respect to the Shared Collateral and/or the Credit
Balance Account or otherwise, (iii) challenging the perfection, enforceability
or unavoidability of any liens securing the Shared Collateral Secured
Obligations and/or the Credit Balance Account, or (iv) asserting any claims
which the Company or its Subsidiaries may hold with respect to GMAC or any of
the Shared Collateral Secured Obligations and/or the Credit Balance Account
other than the Bank Debt, if any.

                                       8

<PAGE>

         (f) To the extent that the Collateral Agent, the Administrative Agent,
     any Bank or GMAC receives payments or transfers on the Bank Debt or the
     GMAC Shared Collateral Debt or proceeds of the Shared Collateral which are
     subsequently invalidated, declared to be fraudulent or preferential, set
     aside and/or required to be repaid to a trustee, receiver or any other
     party under any bankruptcy law, state or federal law, common law, or
     equitable cause, then, to the extent of such payment or proceeds received,
     the Bank Debt or the GMAC Shared Collateral Debt, or part thereof, intended
     to be satisfied shall be revived and continue in full force and effect
     enjoying all rights and benefits of this Agreement as if such payments or
     proceeds had not been received by the Collateral Agent, the Administrative
     Agent, such Bank or GMAC.

         (g) Notwithstanding any other provision of this Section, GMAC shall be
     entitled to file a claim in any related bankruptcy proceeding so as to
     preserve its rights therein (but not in a manner contrary to the foregoing
     clauses of this Section 2.8) and to file any necessary responsive or
     defensive pleadings in opposition to any motion, claim, adversary
     proceeding or other pleading made by any person objecting to or otherwise
     seeking the disallowance of the claims of GMAC including without limitation
     any claims secured by the Shared Collateral, if any.

     2.9 Liability of the Collateral Agent. The Collateral Agent shall not be
         ---------------------------------
liable or answerable for anything whatsoever in connection with this Agreement
or the Collateral Documents except for its willful misconduct or gross
negligence, and the Collateral Agent shall have no duties or obligations other
than as provided herein and therein. The Collateral Agent shall be entitled to
rely on any opinion of counsel (including counsel for the Company) in relating
to this Agreement or the Collateral Documents, and upon statements and
communications received from the Company, or from any other person, believed by
it to be authentic, and shall not be liable for any action taken or omitted in
good faith on such reliance.

     2.10 Indemnification of the Collateral Agent. GMAC agrees to indemnify the
          ---------------------------------------
Collateral Agent (to the extent not reimbursed by the Company and without
limiting the obligation of the Company to do so), ratably according to its share
of the Shared Collateral Secured Obligations, from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements of any kind or nature whatsoever which may be
imposed on, incurred by or asserted against the Collateral Agent in any way
relating to or arising out of this Agreement or the Collateral Documents except
for the Collateral Agent's gross negligence, willful misconduct or breach of
this Agreement. The obligations under this Section shall survive termination of
this Agreement.

     3.  Miscellaneous.
         -------------

     3.1 Successors; Continuing Effect. This Agreement is being entered into for
         -----------------------------
the benefit of, and shall be binding upon the parties hereto, their successors
and assigns, including (i) the Administrative Agent and the lenders under the
Bank Credit Agreement and their respective successors and assigns, including
subsequent holders of Bank Debt, and (ii) GMAC and its respective successors and
assigns, including subsequent holders of the GMAC Shared Collateral Debt.

                                       9

<PAGE>

         3.2   Notices; Amendments; Etc.
               ------------------------

         (a)   All notices, requests and demands to or upon the parties to this
Agreement to be effective shall be in writing (including by facsimile or
telecopy transmission) and shall be deemed to have been duly given or made (i)
when delivered by hand or (ii) three Business Days after being deposited in the
mail, postage prepaid or (iii) one Business Day after being sent by priority
overnight mail with an internationally recognized overnight delivery carrier or
(iv) if by telecopy or facsimile, when received, at the addresses or
transmission numbers for notices set forth below to such other address or
transmission number as may be hereafter notified in writing by the respective
parties hereto:

         GMAC:                         General Motors Acceptance Corporation
                                       P.O. Box 200
                                       Mailcode 482-B10-B11
                                       Detroit, Michigan  48265-200
                                       Attn: David Ehlers
                                       Telephone: (313) 665-6051
                                       Facsimile: (313) 665-6208

         ADMINISTRATIVE AGENT:         Bank of America, N.A.
                                       Mail Code CA5-701-05-19
                                       1455 Market Street, 5/th/ Floor
                                       San Francisco, California  94103
                                       Attn:  Annie Cuenco
                                       Telephone:  (415) 436-4008
                                       Facsimile:  (415) 503-5007

         COLLATERAL AGENT:             Bank of America, N.A.
                                       Mail Code CA5-701-05-19
                                       1455 Market Street, 5/th/ Floor
                                       San Francisco, California  94103
                                       Attn:  Annie Cuenco
                                       Telephone:  (415) 436-4008
                                       Facsimile:  (415) 503-5007

         COMPANY:                      Hughes Electronics Corporation
                                       P.O. Box 956
                                       200 N. Sepulveda Blvd.
                                       El Segundo, California  90245
                                       Attn:  Treasurer
                                       Telephone:  (310) 662-9771
                                       Facsimile:  (310) 322-9083

         (b)   This Agreement may be amended and the terms hereof may be waived
only with the written consent of each of the parties hereto (consisting of (i)
the Company, (ii) the Collateral

                                       10

<PAGE>

Agent, (iii) the Administrative Agent, or if there is no Administrative Agent,
the Majority Banks under the Bank Credit Agreement, and (iv) GMAC).

     3.3 Termination. This Agreement shall terminate upon payment in full
         -----------
(without refinancing or replacement) of all of the Shared Collateral Secured
Obligations or of all of the Shared Collateral Secured Obligations other than
the GMAC Shared Collateral Debt, and expiration or termination of the
commitments relating thereto; provided, however, if the GMAC Shared Collateral
Debt remains outstanding such termination shall not occur until a successor
Collateral Agent shall have replaced Bank of America, N.A. as Collateral Agent
in accordance with the terms of Section 2.7 hereof.

     3.4 Severability. Any provision of this Agreement which is prohibited or
         ------------
unenforceable in any jurisdiction, shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or invalidity without invalidating
the remaining portions hereof or thereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

     3.5 WAIVER OF JURY TRIAL. THE PARTIES HERETO HEREBY IRREVOCABLY AND
         --------------------
UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN.

     3.6 Entire Agreement; Governing Law. This Agreement embodies the entire
         -------------------------------
agreement and understanding of the parties hereto regarding the subject matter
hereof. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     3.7 Counterparts. This Agreement may be executed in any number of
         ------------
counterparts, and each such counterpart shall be deemed to be an original
instrument, but all such counterparts together shall constitute one agreement.

                                       11

<PAGE>

     IN WITNESS WHEREOF, the undersigned have entered into this Agreement as of
the date shown above.

                               GENERAL MOTORS ACCEPTANCE CORPORATION

                               By:________________________________
                               Name:
                               Title:

                               BANK OF AMERICA, N.A.,
                               as Administrative Agent for and on behalf of the
                               lenders under the Bank Credit Agreement

                               By:________________________________
                               Name:
                               Title:

                               BANK OF AMERICA, N.A.
                               as Collateral Agent

                               By:________________________________
                               Name:
                               Title:

                               HUGHES ELECTRONICS CORPORATION,
                               a Delaware corporation

                               By:________________________________
                               Name:
                               Title:

                                                  HUGHES ELECTRONICS CORPORATION
                                                         INTERCREDITOR AGREEMENT<PAGE>

                                                                   Exhibit 10.24

                                 AMENDMENT NO. 6

     THIS AMENDMENT NO. 6 dated as of February 20, 2002 (this "Amendment") to
                                                               ---------
the Existing Credit Agreement referenced below is by and among HUGHES
ELECTRONICS CORPORATION, a Delaware corporation (the `Borrower" or the
                                                      --------
"Company"), the Banks party hereto and BANK OF AMERICA, N.A., as Administrative
--------
Agent (in such capacity, the "Administrative Agent"). Capitalized terms used
                              --------------------
herein and not otherwise defined shall have the meanings provided in the Credit
Agreement (defined below).

                               W I T N E S S E T H

     WHEREAS, a $750 million revolving credit facility has been established in
favor of the Borrower pursuant to the terms of that Amended and Restated
Revolving Credit Agreement (Multi-Year Facility) dated as of November 24, 1999
(as amended and modified, the "Existing Credit Agreement") among the Borrower,
                               -------------------------
the Banks identified therein, and the Administrative Agent;

     WHEREAS, the Borrower has requested an increase in the commitments and
certain other modifications under the Existing Credit Agreement; and

     WHEREAS, the Banks have agreed to the requested modifications on the terms
and conditions set forth herein;

     NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:

     SECTION 1 Amendments to the Existing Credit Agreement. The Existing Credit
               -------------------------------------------
Agreement is hereby amended in the following respects:

          1.1 Subject to satisfaction of the terms and conditions set forth
     herein, the Existing Credit Agreement (together with the Exhibits and
     Schedules thereto) is hereby amended and restated in its entirety to read
     in the form attached as Exhibit A to this Amendment (as amended and
                             ---------
     restated, the "Credit Agreement").
                    ----------------

     SECTION 2 Intercreditor Agreements. The Banks by action of the Majority
               ------------------------
Banks hereby authorize and direct the Administrative Agent and the Collateral
Agent to enter into each of the Intercreditor Agreements, in substantially the
form attached as Exhibit B to this Amendment, on their behalf.
                 ---------

     SECTION 3 Representations and Warranties. The Borrower hereby affirms
               ------------------------------
that, after giving effect to this Amendment, the representations and warranties
set forth in the Credit Agreement and the other Loan Documents are true and
correct in all material respects as of the date hereof (except those that
expressly relate to an earlier period).

<PAGE>

     SECTION 4 Conditions Precedent. This Amendment shall become effective
               --------------------
immediately upon satisfaction of each of the following conditions precedent (the
date of satisfaction thereof being the "Amendment Date"):
                                        --------------

          (a) The Administrative Agent shall have received executed counterparts
     of (i) this Amendment duly executed by the Borrower, the Majority Banks and
     the Administrative Agent, (ii) the Guaranties from the Guarantors
     identified therein, (iii) the promissory notes, if any, needed to give
     effect to the increase in commitments under this Amendment, (iii) the
     Security Agreement from the Borrower and the Guarantors identified therein,
     (iv) the Pledge Agreement from the Borrower and the Guarantors identified
     therein, (v) the other collateral documents, (vi) the stock certificates
     and undated stock powers therefor executed in blank for the ownership
     interests which are the subject of the Pledge Agreement, (vii) the
     Intercreditor Agreements from the Borrower, the Administrative Agent and
     the other parties thereto, and (viii) opinions of counsel to the Credit
     Parties, in each case in form and substance reasonably satisfactory to the
     Administrative Agent and the Majority Banks.

          (b) The Administrative Agent shall have received from the Borrower and
     each of the Guarantors (i) copies of the resolutions, in form and substance
     reasonably acceptable to the Administrative Agent, authorizing the
     execution, delivery and performance of this Amendment and the other Loan
     Documents, of all other documents, if any, evidencing other necessary
     corporate action and governmental approvals with respect to this Amendment,
     and of the by-laws, partnership agreement, operating agreement or similar
     document relating to corporate governance in each case certified by the
     Secretary or an Assistant Secretary, in form reasonably satisfactory to the
     Administrative Agent, (ii) an incumbency certificate with specimen
     signatures for the officers authorized to sign the Loan Documents and the
     other certificates and documents to be executed and delivered under the
     Loan Documents certified by the Secretary or an Assistant Secretary, in
     form reasonably satisfactory to the Administrative Agent, (iii) a certified
     copy of the articles of incorporation or organization from the state of
     organization and (iv) certificates of good standing or existence from the
     state of organization.

          (c) The Administrative Agent shall have received a certificate, in
     form and detail reasonably satisfactory to the Administrative Agent, from
     the chief financial officer or treasurer of the Borrower indicating that,
     as of the end of the fiscal quarter ending December 31, 2001, after giving
     pro forma effect to this Amendment (and the loans and commitments
     established therewith assuming that the commitments are fully advanced) and
     to the PAS financing referenced below in clause (e) (assuming all the
     proceeds of such PAS financing are used to repay Revolving Loans under the
     Credit Agreement), the Consolidated Leverage Ratio will not exceed
     4.50:1.0.

          (d) The Administrative Agent shall have received copies certified as
     being true and correct by the Secretary or an Assistant Secretary of the
     Borrower of the EchoStar Transaction Documents with all amendments,
     modifications, supplements, addenda, attachments and exhibits, and of the
     $5.525 billion financing commitment

                                       2

<PAGE>

     provided by Credit Suisse First Boston and Deutsche Bank AG in connection
     with the closing of the transactions contemplated therein.

          (e) The Administrative Agent shall have received confirmation of (i)
     the establishment of new financing facilities of at least $1.725 billion in
     favor of PAS, and (ii) the establishment of the GMAC Financing Facility in
     an aggregate principal amount of up to $2 billion and confirmation of,
     among other things, extension of the maturity date under the GMAC Financing
     Facility to a date not sooner than the Termination Date under the Credit
     Agreement.

          (f) The Administrative Agent shall have received confirmation of
     repayment in full and termination of the commitments under any bridge
     financing obtained by the Borrower and release of any liens given in
     connection therewith.

          (g) There shall not have occurred an event or development that has had
     or is reasonably likely to have a Material Adverse Effect from December 31,
     2000 to the Amendment Date (except for and other than as disclosed in Form
     10K and Form 10Q filings with the Securities and Exchange Commission).

          (h) The absence of any action, suit, investigation or proceeding
     pending or threatened in any court or before any arbitrator or governmental
     authority that could be reasonably expected (i) to materially and adversely
     affect the Borrower and its subsidiaries taken as a whole, or the merger
     with EchoStar Communications Corporation (or any of its subsidiaries)
     described in the EchoStar Transaction Documents, or (ii) to affect any
     transaction contemplated hereby or the ability of the Borrower or its
     subsidiaries or any other obligor under the guarantees or security
     documents to perform their respective obligations under the Loan Documents.

          (i) No Event of Default or Unmatured Event of Default shall have
     occurred and be continuing.

          (j) The representations and warranties in the Credit Agreement and in
     the other Loan Documents (except those which expressly relate to an earlier
     date) shall be true and correct in all material respects as of the
     Amendment Date.

          (k) Payment by the Borrower of all fees and expenses owed by the
     Credit Parties to the Banks and the Administrative Agent in connection
     herewith.

     SECTION 5 Miscellaneous.
               -------------

          5.1 Except as modified hereby, all of the terms and conditions of the
     Existing Credit Agreement (including Schedules and Exhibits) shall remain
     in full force and effect.

          5.2 The Borrower agrees to pay all reasonable costs and expenses of
     the Administrative Agent in connection with the preparation, execution and

                                       3

<PAGE>

     delivery of this Amendment, including reasonable fees and expenses of Moore
     & Van Allen, PLLC, counsel to the Administrative Agent.

          5.3 This Amendment may be executed in any number of counterparts, each
     of which when so executed and delivered shall be deemed an original, and it
     shall not be necessary in making proof of this Amendment to produce or
     account for more than one such counterpart.

          5.4 This Amendment shall be deemed to be a contract made under, and
     for all purposes shall be construed in accordance with the laws of the
     State of New York.

                  [remainder of page intentionally left blank]

                                       4

<PAGE>

     IN WITNESS WHEREOF, each of the parties has caused a counterpart of this
Amendment to be duly executed and delivered as of the date first above written.

                              HUGHES ELECTRONICS CORPORATION,
                              a Delaware corporation

                              By:_________________________________
                              Name:
                              Title:

                           [Signature pages continue]

<PAGE>

AGENT:                        BANK OF AMERICA, N.A., in its capacity
-----                         as Administrative Agent

                              By:_________________________________
                              Name:
                              Title:

LENDERS:                      BANK OF AMERICA, N.A., in its
-------                       capacity as a Lender

                              By:_________________________________
                              Name:
                              Title:

                              JPMORGAN CHASE BANK (as successor to MORGAN
                              GUARANTY TRUST COMPANY OF NEW YORK and
                              formerly known as THE CHASE MANHATTAN BANK)

                              By:__________________________________
                              Name:
                              Title:

                              DEUTSCHE BANK AG NEW YORK
                              BRANCH AND/OR CAYMAN ISLANDS BRANCH

                              By:__________________________________
                              Name:
                              Title:

                              CITICORP USA, INC.

                              By:__________________________________
                              Name:
                              Title:

                              CREDIT SUISSE FIRST BOSTON

                              By:__________________________________
                              Name:
                              Title:

                           [Signature pages continue]

<PAGE>

                              BANK OF NEW YORK

                              By:__________________________________
                              Name:
                              Title:

                              THE FUJI BANK, LIMITED

                              By:__________________________________
                              Name:
                              Title:

                              THE INDUSTRIAL BANK OF JAPAN, LIMITED

                              By:__________________________________
                              Name:
                              Title:

                              TORONTO DOMINION (TEXAS), INC.

                              By:__________________________________
                              Name:
                              Title:

                              WESTDEUTSCHE LANDESBANK
                              GIROZENTRALE, NEW YORK BRANCH

                              By:__________________________________
                              Name:
                              Title:

                              MORGAN GUARANTY TRUST COMPANY OF
                              NEW YORK

                              By:__________________________________
                              Name:
                              Title:

                              FIRSTAR BANK, N.A.

                              By:__________________________________
                              Name:
                              Title:

                           [Signature pages continue]

<PAGE>

                              BANK HAPOALIM B.M.

                              By:__________________________________
                              Name:
                              Title:

                              By:__________________________________
                              Name:
                              Title:

                              THE MITSUBISHI TRUST AND BANKING
                              CORPORATION, NEW YORK BRANCH

                              By:__________________________________
                              Name:
                              Title:

                              BHF (USA) CAPITAL CORPORATION

                              By:__________________________________
                              Name:
                              Title:

                              ALLFIRST BANK

                              By:__________________________________
                              Name:
                              Title:

                              BANCA DI ROMA SPA

                              By:__________________________________
                              Name:
                              Title:

                              UNION BANK OF CALIFORNIA, N.A.

                              By:__________________________________
                              Name:
                              Title:

                           [Signature pages continue]

<PAGE>

                              SANPAOLO IMI S.P.A.

                              By:__________________________________
                              Name:
                              Title:

                              BANK ONE, NA

                              By:__________________________________
                              Name:
                              Title:

                              CIBC, INC.

                              By:__________________________________
                              Name:
                              Title:

                              ING BANK N.V.

                              By:__________________________________
                              Name:
                              Title:

                              BANKERS TRUST COMPANY

                              By:__________________________________
                              Name:
                              Title:

<PAGE>

                                                                Exhibit 10.24(a)

--------------------------------------------------------------------------------

                              AMENDED AND RESTATED
                           REVOLVING CREDIT AGREEMENT
                              (MULTI-YEAR FACILITY)

                          Dated as of November 24, 1999

                                      among

                         HUGHES ELECTRONICS CORPORATION

                            THE LENDERS NAMED HEREIN

                                       and

                              BANK OF AMERICA, N.A.
                             as Administrative Agent

--------------------------------------------------------------------------------

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                  Page
                                                                                                  ----
<S>      <C>                                                                                       <C>
SECTION 1 DEFINITIONS...............................................................................2
         1.1      Definitions.......................................................................2
                  -----------
         1.2      Accounting Terms.................................................................20
                  ----------------

SECTION 2 THE CREDIT...............................................................................20
         2.1      The Commitments..................................................................20
                  ---------------
         2.2      Method of Borrowing..............................................................22
                  -------------------
         2.3      Interest.........................................................................23
                  --------
         2.4      Repayment........................................................................24
                  ---------
         2.5      Loan Accounts and Notes..........................................................24
                  -----------------------
         2.6      Conversion and Continuation of Loans and Interest Periods........................24
                  ---------------------------------------------------------
         2.7      Disbursements and Payments.......................................................25
                  --------------------------
         2.8      Fees.............................................................................26
                  ----
         2.9      Additional Provisions relating to Letters of Credit..............................27
                  ---------------------------------------------------

SECTION 3 PAYMENT OF COSTS AND REDUCTION OF THE COMMITMENT.........................................31
         3.1      Indemnification Upon Failure to Pay Eurodollar Loan..............................32
                  ---------------------------------------------------
         3.2      Increased Costs..................................................................32
                  ---------------
         3.3      Taxes............................................................................33
                  -----
         3.4      Prepayments......................................................................34
                  -----------
         3.5      Pro Rata Reduction of Commitments by Borrower....................................35
                  ---------------------------------------------
         3.6      Non-Ratable Increases and Reductions of Commitments by Borrower..................36
                  ---------------------------------------------------------------
         3.7      Notice of Reductions.............................................................38
                  --------------------
         3.8      Designation of Replacement Bank..................................................38
                  -------------------------------
         3.9      Effect of Reduction of Commitment................................................38
                  ---------------------------------
         3.10     Accrued Fees.....................................................................38
                  ------------
         3.11     Survival.........................................................................38
                  --------

SECTION 4 CHANGE IN CIRCUMSTANCES AFFECTING LOANS..................................................39
         4.1      Inability to Determine Eurodollar Rate...........................................39
                  --------------------------------------
         4.2      Illegality.......................................................................39
                  ----------

SECTION 5 CONDITIONS PRECEDENT.....................................................................40
         5.1      [Intentionally Omitted.].........................................................40
         5.2      [Intentionally Omitted.].........................................................40
         5.3      Conditions Precedent to Loans....................................................40
                  -----------------------------

SECTION 6 REPRESENTATIONS AND WARRANTIES...........................................................40
         6.1      Authority........................................................................40
                  ---------
         6.2      Binding Obligations..............................................................41
                  -------------------
         6.3      No Contravention.................................................................41
                  ----------------
         6.4      Notices..........................................................................41
                  -------
         6.5      Financial Statements.............................................................41
                  --------------------
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                                       <C>
         6.6      ERISA............................................................................42
                  -----
         6.7      Government Regulations...........................................................42
                  ----------------------
         6.8      Subsidiaries.....................................................................42
                  ------------
         6.9      Taxes............................................................................42
                  -----
         6.10     Insurance........................................................................43
                  ---------
         6.11     Use of Proceeds of Loans.........................................................43
                  ------------------------
         6.12     No Material Misstatements........................................................43
                  -------------------------
         6.13     Liens............................................................................43
                  -----
         6.14     Security Interests...............................................................43
                  ------------------

SECTION 7 AFFIRMATIVE COVENANTS OF BORROWER........................................................44
         7.1      Use of Proceeds of Loans.........................................................44
                  ------------------------
         7.2      Management of Business; Preservation of Existence................................44
                  -------------------------------------------------
         7.3      Notice of Certain Events.........................................................44
                  ------------------------
         7.4      Records..........................................................................44
                  -------
         7.5      Information Furnished............................................................45
                  ---------------------
         7.6      [Intentionally Omitted.].........................................................46
         7.7      Insurance........................................................................46
                  ---------
         7.8      ERISA............................................................................46
                  -----
         7.9      Administrative Agent's Fees......................................................46
                  ---------------------------
         7.10     Payment of Taxes and Other Indebtedness..........................................46
                  ---------------------------------------
         7.11     Performance of Obligations.......................................................47
                  --------------------------
         7.12     Compliance with Law..............................................................47
                  -------------------
         7.13     Maintenance of Property..........................................................47
                  -----------------------
         7.14     Additional Credit Parties........................................................47
                  -------------------------

SECTION 8 NEGATIVE COVENANTS OF BORROWER...........................................................48
         8.1      Indebtedness.....................................................................48
                  ------------
         8.2      Financial Covenants..............................................................50
                  -------------------
         8.3      Liens............................................................................50
                  -----
         8.4      Nature of Business...............................................................51
                  ------------------
         8.5      Merger and Consolidation, Dissolution and Acquisitions...........................51
                  ------------------------------------------------------
         8.6      Asset Dispositions...............................................................51
                  ------------------
         8.7      Investments......................................................................52
                  -----------
         8.8      Restricted Payments..............................................................52
                  -------------------
         8.9      Modifications and Payments in respect of Funded Debt.............................53
                  ----------------------------------------------------
         8.10     Transactions with Affiliates.....................................................53
                  ----------------------------
         8.11     Fiscal Year......................................................................53
                  -----------
         8.12     Limitation on Restricted Actions.................................................53
                  --------------------------------
         8.13     Ownership of Subsidiaries; Limitations on Borrower...............................53
                  --------------------------------------------------
         8.14     Sale Leasebacks..................................................................54
                  ---------------

SECTION 9 EVENTS OF DEFAULT........................................................................54
         9.1      Events of Default................................................................54
                  -----------------
         9.2      Recovery of Amounts Due..........................................................57
                  -----------------------
         9.3      Rights Cumulative................................................................57
                  -----------------
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>      <C>                                                                                       <C>
SECTION 10 THE BANKS...............................................................................57
         10.1     Administration of Loan...........................................................57
                  ----------------------
         10.2     Representations By Banks.........................................................58
                  ------------------------

SECTION 11 MISCELLANEOUS PROVISIONS................................................................58
         11.1     Amendments and Waivers...........................................................58
                  ----------------------
         11.2     Notices..........................................................................58
                  -------
         11.3     Waiver...........................................................................59
                  ------
         11.4     New York Law.....................................................................59
                  ------------
         11.5     Headings.........................................................................59
                  --------
         11.6     [Intentionally Omitted.].........................................................59
                  -
         11.7     Counterparts.....................................................................59
                  ------------
         11.8     Written Disclosure...............................................................59
                  ------------------
         11.9     Singular; Plural.................................................................59
                  ----------------
         11.10    Illegality.......................................................................60
                  ----------
         11.11    Assignments......................................................................60
                  -----------
         11.12    Obligations Several..............................................................61
                  -------------------
         11.13    Participations...................................................................61
                  --------------
         11.14    Fees and Expenses................................................................62
                  -----------------
         11.15    Indemnity........................................................................62
                  ---------
         11.16    Confidentiality..................................................................63
                  ---------------
         11.17    [Intentionally Omitted.].........................................................64
         11.18    Waiver of Right to Trial by Jury.................................................64
                  --------------------------------
</TABLE>

                                       iii

<PAGE>

                                    SCHEDULES
                                    ---------

<TABLE>
<S>                                                     <C>
Schedule 1 ...........................................................................Banks and Commitments
Schedule 2.9(b) .................................................................Existing Letters of Credit
Schedule 3.4(b)(ii)............................................................Specified Asset Dispositions
Schedule 3.4(b)(ii)B....................................Insurance Proceeds in respect of Asset Dispositions
Schedule 6.8...................................................................................Subsidiaries
Schedule 6.13................................................................................Existing Liens
Schedule 7.7......................................................................................Insurance
Schedule 8.1..........................................................................Existing Indebtedness
Schedule 8.1B.........................................................Other Guaranty Shared Collateral Debt
Schedule 8.5(a)..................................................................Mergers and Consolidations
Schedule 8.5(b)................................................................................Dissolutions
Schedule 8.5(c)......................................................................Permitted Acquisitions
Schedule 8.6.............................................................................Asset Dispositions
Schedule 8.7...........................................................................Existing Investments
Schedule 8.8............................................................................Restricted Payments
Schedule 8.10..................................................................Transactions with Affiliates

                                    EXHIBITS
                                    --------

Exhibit A-1............................................................................Form of Loan Request
Exhibit A-2............................................................Form of Request for Letter of Credit
Exhibit B-1..........................................................................Form of Revolving Note
Exhibit B-2...............................................................................Form of Term Note
Exhibit C .................................................................Relations among Banks and Agents
Exhibit D .............................................................Lending Offices and Notice Addresses
Exhibit E ..........................................................................[Intentionally Omitted]
Exhibit F ...................................................................Form of Compliance Certificate
Exhibit G ......................................................Form of Notice of Assignment and Acceptance
Exhibit H ...................................................................Form of Bank Joinder Agreement
</TABLE>

                                       iv

<PAGE>

                 AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
                              (MULTI-YEAR FACILITY)

     THIS AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (MULTI-YEAR FACILITY)
("Agreement") is entered into as of November 24, 1999 among HUGHES ELECTRONICS
  ---------
CORPORATION, a corporation organized and existing under the laws of Delaware
("Borrower"), the lenders named herein (collectively, together with any other
  --------
lenders that become parties hereto pursuant to Section 3.6, 3.8 or 11.11, the
"Banks" and individually, a "Bank") and Bank of America, N.A., as administrative
 -----                       ----
agent for the Banks (in such capacity, "Administrative Agent").
                                        --------------------

                                    RECITALS
                                    --------

     WHEREAS, pursuant to the Revolving Credit Agreement (Multi-Year Facility)
dated as of December 5, 1997, among Borrower, the financial institutions listed
on the signature pages thereof, Morgan Guaranty Trust Company of New York, as
Syndication Agent (in such capacity, the "Syndication Agent"), Citicorp USA,
                                          -----------------
Inc. and The Chase Manhattan Bank, as Documentation Agents (in such capacity,
the "Documentation Agents") and Administrative Agent (the "Original Credit
     --------------------                                  ---------------
Agreement"), the Banks agreed to extend certain credit facilities to Borrower;
---------

     WHEREAS, the Original Credit Agreement was amended pursuant to that certain
First Amendment to Revolving Credit Agreement (Multi-Year Facility) dated as of
December 15, 1998 among Borrower, the lending institutions identified therein,
the Administrative Agent, the Syndication Agent and the Documentation Agents
(the "First Amendment"; the Original Agreement, as amended by the First
            ---------
Amendment, the "Current Agreement");
                -----------------

     WHEREAS, Borrower, the lending institutions that executed the signature
pages thereof (which lenders constituted the Majority Banks), Syndication Agent,
Documentation Agents and Administrative Agent entered into that certain
Amendment Agreement Regarding Revolving Credit Agreement (Multi-Year Facility)
dated as of November 24, 1999 (the "Amendment Agreement"), pursuant to which the
                                    -------------------
Current Agreement was amended and restated in its entirety as set forth therein;
and

     WHEREAS, the Amendment Agreement has been further amended and restated in
its entirety, as provided in Amendment No. 6 to this Agreement dated as of
February    , 2002;
        ----

     NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, Borrower, Banks, and Administrative
Agent agree as follows:

<PAGE>

                                    SECTION 1
                                   DEFINITIONS

     1.1 Definitions.
         -----------

     "Acquisition", by any Person, means the purchase or acquisition by such
      -----------
Person of any capital stock or other equity interest of another Person (other
than a Credit Party) or all or any substantial portion of the property of
another Person (other than a Credit Party), whether or not involving a merger or
consolidation with such other Person.

     "Affiliate" means, with respect to a specified Person, another Person that
      ---------
directly, or indirectly through one or more intermediaries, Controls or is
Controlled by or is under common Control with the Person specified.
Notwithstanding the foregoing, no individual shall be an Affiliate solely by
reason of his or her being a director, officer or employee of the Borrower or
any of its Affiliates.

     "Amendment Date" means the effective date of Amendment No. 6 to the Credit
      --------------
Agreement (being on or about February   , 2002).
                                     --

     "Approved Bank Affiliate" means (i) any Affiliate of a Bank, (ii) any
      -----------------------
Person that is administered or managed by any Bank or any Affiliate of any Bank
and that is engaged in making, purchasing, holding or otherwise investing in
commercial loans and similar extensions of credit in the ordinary course of
business, and (iii) with respect to any Bank which is a fund that invests in
commercial loans and similar extensions of credit, any such fund that is managed
or advised by the same investment advisor as such Bank or by an Affiliate of
such Bank or investment advisor.

     "Approved Fund" means any Person (other than a natural Person) that is (or
      -------------
will be) engaged in making, purchasing, holding or otherwise investing in
commercial loans and similar extensions of credit in the ordinary course of its
business, that is administered or managed by (i) a Bank, (ii) an affiliate of a
Bank or (iii) an entity or an affiliate of an entity that administers or manages
a Bank.

     "Arrangers" means BAS and Salomon Smith Barney, Inc.
      ---------

     "Asset Disposition" shall mean and include (i) the sale, lease or other
      -----------------
disposition of any property by any Credit Party, but for purposes hereof shall
not include, in any event, (A) the sale, lease or other disposition of any
property in the ordinary course of business, (B) the sale, lease or other
disposition of machinery and equipment no longer used or useful in the conduct
of business, (C) the sale, lease or other disposition of property to a Credit
Party, and (D) the sale or disposition of any investment identified on Schedule
                                                                       --------
3.4(b)(ii), and (ii) receipt by any Credit Party of any cash insurance proceeds
----------
or condemnation award payable by reason of theft, loss, physical destruction or
damage, taking or similar event with respect to any of its property but
excluding any cash insurance proceeds or condemnation awards applied or
committed to be applied by such Credit Party to the repair, replacement or
restoration of such property and items identified on Schedule 3.4(b)(ii)B;
                                                     --------------------
provided, however, notwithstanding anything to the contrary contained herein,
--------  -------
(I) the sale or other disposition of the capital stock of DLA shall not be

                                       2

<PAGE>

considered an "Asset Disposition" for purposes of the mandatory prepayment
provisions of Section 3.4(b)(ii) or the limitations of Section 8.6, but shall be
subject to the mandatory prepayment provisions of Section 3.4(b)(iii) instead,
and (II) the sale or other disposition of the capital stock of PAS shall not be
considered an "Asset Disposition" for purposes of the mandatory prepayment
provisions of Section 3.4(b)(ii), but shall be subject to limitations of Section
8.6 and the mandatory prepayment provisions of Section 3.4(b)(iii) instead; and
provided, further, that in any case, the sale, lease or other disposition of
--------  -------
property or receipt of cash insurance proceeds or condemnation awards generating
less than $10 million in net cash proceeds in any individual transaction or
series of related transactions shall not be considered an "Asset Disposition".
                                                           -----------------

     "Authorized Designee" means the chief executive officer, the vice chairman,
      -------------------
the chief financial officer, treasurer or the assistant treasurer of Borrower,
or any other officer of Borrower specified as being an Authorized Designee in a
certificate delivered to the Administrative Agent.

     "Availability Period" means the period commencing on the Effective Date and
      -------------------
ending on the Termination Date.

     "Bank of America" means Bank of America, N.A. in its capacity as a Bank.
      ---------------

     "BAS" means Banc of America Securities LLC.
      ---

     "Base Rate" means the higher of: (a) the rate of interest publicly
      ---------
announced from time to time by Bank of America in San Francisco, California as
its "reference rate," which is a rate set by Bank of America based upon various
     --------------
factors including Bank of America's costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some
loans, which may be priced at, above, or below such announced rate; and (b)
one-half percent per annum above the Federal Funds Rate. Any change in the
reference rate announced by Bank of America shall take effect at the opening of
business on the day specified in the public announcement of such change.

     "Base Rate Loan" means a Loan bearing interest based on the Base Rate
      --------------
calculated pursuant to Section 2.3(a)(i).

     "Borrowing Date" means a date on which funds are advanced to Borrower by
      --------------
one or more Banks pursuant to a Loan Request.

     "Business Day" means a day other than a Saturday or Sunday on which banks
      ------------
are open for business in both San Francisco, California and New York, New York.

     "Cash Equivalents" means (a) securities issued or directly and fully
      ----------------
guaranteed or insured by the United States or any agency or instrumentality
thereof (provided that the full faith and credit of the United States is pledged
in support thereof) having maturities of not more than twelve months from the
date of acquisition, (b) U.S. dollar denominated time deposits and certificates
of deposit of (i) any financial institution (other than GMAC) with which
Borrower has an established credit relationship, and (ii) whose short-term
credit rating from S&P is at least A-1 or from Moody's is at least P-1, in each
case with maturities of not more than 365 days from

                                       3

<PAGE>

the date of acquisition, (c) up to $250 million (but not, in any event, more
than twenty-five percent (25%) of the aggregate amount of cash and Cash
Equivalents at any time) in commercial paper issued by any approved issuer by
the Borrower bearing at least a "2" rating for any short-term rating provided by
S&P and/or Moody's and having maturities of not more than 270 days from the date
of acquisition; provided, however, that the issuer's long-term debt rating, if
applicable, must be at least A- by S&P or A3 by Moody's, (d) repurchase
agreements entered into by Borrower or any other Credit Party with a bank or
trust company (including any of the Banks) or recognized securities dealer
having capital and surplus in excess of $500 million for direct obligations
issued by or fully guaranteed by the United States, or for mortgage collateral
defined as "whole loan", in which Borrower shall have a perfected first priority
security interest (subject to no other Liens) and having, on the date of
purchase thereof, a fair market value of at least one hundred and two percent
(102%) of the amount of the repurchase obligations, (e) variable or fixed rate
notes issued by any approved issuer by the Borrower rated at least A-1 by S&P
(or the equivalent thereof) or at least P-1 by Moody's (or the equivalent
thereof) and maturing within one year of the date of acquisition, and (f)
Investments, classified in accordance with GAAP as current assets, in money
market investment programs registered under the Investment Company Act of 1940,
as amended, that are administered by reputable financial institutions having
capital of at least $500 million and the portfolios of which are limited to
Investments of the character described in the foregoing subdivisions (a) through
(e).

     "Collateral Agent" means Bank of America, N.A. (or other party acceptable
      ----------------
to the Majority Banks) in its capacity as Collateral Agent under the Collateral
Documents, and its successors and assigns in such capacity.

     "Collateral Documents" means the Security Agreement, the Pledge Agreement
      --------------------
and such other documents executed and delivered in connection with the
attachment and perfection of the liens and security interests thereunder,
including UCC financing statements.

     "Commitments" means the Revolving Commitments, the LOC Commitment and the
      -----------
Term Loan Commitment.

     "Compliance Certificate" means a certificate in the form of Exhibit F,
      ----------------------                                     ---------
properly completed and signed by an Authorized Designee.

     "Consolidated Capital Expenditures" means for any period for the
      ---------------------------------
Consolidated Group (other than PAS), without duplication, all expenditures
(whether paid in cash or other consideration) during such period that, in
accordance with GAAP, are included in additions to property, plant and equipment
reflected in the consolidated statement of cash flows for such period; provided,
                                                                       --------
that Consolidated Capital Expenditures shall not include, for purposes hereof,
expenditures of proceeds of insurance settlements, condemnation awards and other
settlements in respect of lost, destroyed, damaged or condemned assets,
equipment or other property to the extent such expenditures are made to replace
or repair such lost, destroyed, damaged or condemned assets, equipment or other
property or otherwise to acquire assets or properties useful in the business of
the members of the Consolidated Group (other than PAS).

                                       4

<PAGE>

     "Consolidated EBITDA" means, for any period for the Consolidated Group, an
      -------------------
amount equal to the sum of (i) Consolidated Net Income, plus (ii) to the extent
deducted in determining net income, without duplication, (A) consolidated
interest expense in accordance with GAAP, (B) taxes based on or measured by
income, and (C) depreciation and amortization expense, plus (iii) the non-cash
component of any unusual or nonrecurring item of loss or expense (or minus the
non-cash component of any unusual or nonrecurring item of gain or income) to the
extent used or included in determining Consolidated Net Income (including
without limitation the writedown of certain investments identified on Schedule
                                                                      --------
3.4(b)(ii)), provided that with respect to accruals or reserves for future cash
-----------
disbursements, such future cash disbursements shall be deducted in the fiscal
period in which such cash disbursement is made, plus (iv) up to $300 million in
the aggregate charged in connection with the settlement of certain disputes
referred to in the Quarterly Report on Form 10Q of the Borrower dated September
30, 2001 (exclusive of the portion thereof that is in Consolidated Interest
Expense).

     "Consolidated Funded Debt" means Funded Debt of the Consolidated Group
      ------------------------
determined on a consolidated basis in accordance with GAAP; but for purposes
hereof net of (i) the aggregate amount of cash collateral securing any Funded
Debt, (ii) the lesser of $300 million and the amount of unrestricted cash and
cash equivalents on the balance sheet of PAS determined in accordance with GAAP,
and (iii) for purposes of computing the Consolidated Leverage Ratio for the
fiscal quarter ending as of March 31, 2002, the lesser of $200 million and the
amount of unrestricted cash and cash equivalents on the balance sheet of the
Borrower determined in accordance with GAAP.

     "Consolidated Group" means the Borrower and its subsidiaries determined in
      ------------------
accordance with GAAP on a consolidated basis.

     "Consolidated Interest Expense" means, for any period for the Consolidated
      -----------------------------
Group, all interest expense, including the amortization of debt discount and
premium, but for purposes hereof, net of interest income and excluding (i)
interest expense attributable to the settlement of certain disputes referred to
in the Quarterly Report on Form 10Q of the Borrower dated September 30, 2001 and
(ii) interest expense attributable to indebtedness referred to in Section 8.1(k)
if the proceeds of such indebtedness have been pledged to secure the Loan
Obligations and the first interest payment due with respect to such indebtedness
is after December 5, 2002, in each case on a consolidated basis determined in
accordance with GAAP.

     "Consolidated Interest Coverage Ratio" means, as of the last day of each
      ------------------------------------
fiscal quarter, the ratio of (i) Consolidated EBITDA to (ii) Consolidated
Interest Expense relating to Funded Debt, each measured for the period of four
consecutive fiscal quarters ending as of such day.

     "Consolidated Leverage Ratio" means, as of the last day of each fiscal
      ---------------------------
quarter, the ratio of (i) Consolidated Funded Debt on such day to (ii)
Consolidated EBITDA for the period of four consecutive fiscal quarters ending as
of such day.

     "Consolidated Net Income" means, for any period for the Consolidated Group,
      -----------------------
net income determined in accordance with GAAP.

                                       5

<PAGE>

     "Consolidated Net Worth" means, as of any date for the Consolidated Group,
      ----------------------
net worth or shareholders' equity determined in accordance with GAAP.

     "Control" means the possession, directly or indirectly, of the power to
      -------
direct or cause the direction of the management or policies of a Person, whether
through the ability to exercise voting power, by contract or otherwise.
"Controlling" and "Controlled" have meanings correlative thereto.
 -----------       ----------

     "Core Assets" means DIRECTV (U.S.), DLA, PAS and the VSAT, DIRECWAY,
      -----------
SPACEWAY and set-top box businesses, units or divisions of HNS.

     "Credit Party" means any or all of the Borrower and the Guarantors;
      ------------
provided, however, HTS shall not be deemed a Credit Party for purposes of this
Agreement.

     "DCS" means DirecTV Customer Services, Inc., a Delaware corporation.
      ---

     "Debt Transaction" means, with respect to any Credit Party, any sale,
      ----------------
issuance, placement, assumption or guaranty of Funded Debt, whether or not
evidenced by promissory note or other written evidence of indebtedness, except
for Funded Debt permitted to be incurred pursuant to clauses (a) through (j) of
Section 8.1 and also clause (k) of Section 8.1, but only if, and to the extent,
the net cash proceeds from Funded Debt permitted under Section 8.1(k) are
pledged as collateral security for the loans and obligations hereunder (on terms
and conditions reasonably satisfactory to the Administrative Agent).

     "DLA" means DIRECTV Latin America Holdings, Inc., a California corporation,
      ---
and all of its subsidiaries.

     "DLA Credit Facility" means that certain Revolving Credit Agreement (Bridge
      -------------------
Facility) among DIRECTV Latin America, LLC, Deutsche Bank AG, New York Branch,
as administrative agent, and the other lenders from time to time party thereto
dated as of January 5, 2001, as amended from time to time thereafter.

     "Domestic Credit Party" means a Credit Party that is incorporated or
      ---------------------
organized under the laws of any state of the United States or the District of
Columbia.

     "Domestic Subsidiary" means any Subsidiary that is incorporated or
      -------------------
organized under the laws of any state of the United States or the District of
Columbia.

     "EchoStar Transaction Documents" shall have the meaning given such term in
      ------------------------------
Section 3.4(b)(iv).

     "Effective Date" means November 24, 1999.
      --------------

     "Eligible Assignee" means (i) a Bank; (ii) an Affiliate of a Bank; (iii) an
      -----------------
Approved Fund; and (iv) any other Person (other than a natural Person) approved
by the Administrative Agent

                                       6

<PAGE>

and the Issuing Bank and, unless an Event of Default has occurred and is
continuing, the Borrower (each such approval not to be unreasonably withheld or
delayed).

     "Equity Transaction" means, with respect to any Credit Party, any issuance
      ------------------
or sale of shares of its capital stock or other equity interest, other than an
issuance (i) to a Credit Party, (ii) in connection with a conversion of debt
securities to equity, (iii) in connection with exercise by a present or former
employee, officer or director under a stock incentive plan, stock option plan or
other equity-based compensation plan or arrangement, (iv) in connection with the
redemption of the Hughes Series A Preferred Stock provided that there is a
concurrent contribution of capital back to the Borrower in an amount not less
than the amount of the redemption, or (v) to GM (or a subsidiary of GM) of the
Borrower's common stock, par value $0.01 per share (the "Hughes Common Stock")
                                                         -------------------
in connection with the Hughes Series A Preferred Stock or the transactions
contemplated in the EchoStar Transaction Documents.

     "ERISA" means the Employee Retirement Income Security Act of 1974, as in
      -----
effect from time to time.

     "ERISA Affiliate" means any trade or business (whether or not incorporated)
      ---------------
under common control with Borrower or any Subsidiary of Borrower within the
meaning of Section 414(b), 414(c) or 414(m) of Internal Revenue Code of 1986, as
amended, excluding GM and its subsidiaries (other than the Borrower and its
Subsidiaries).

     "Eurodollar Banking Day" means a day on which banks are open for business
      ----------------------
in San Francisco, California, New York, New York and the applicable offshore
dollar interbank market and dealing in U. S. Dollar deposits.

     "Eurodollar Loan" means a Loan at the rate of interest calculated pursuant
      ---------------
to Section 2.3(a)(ii).

     "Eurodollar Rate" means for each Interest Period of a Eurodollar Loan the
      ---------------
rate per annum (rounded upwards, if necessary, to the nearest 1/100th of one
percent) in each case determined by the Administrative Agent to be equal to:

          (a) the offered rate that appears on the Dow Jones Telerate Screen
     Page 3750 (or any successor page) that displays an average British Bankers
     Association Interest Settlement Rate for deposits in U.S. dollars (for
     delivery on the first day of the applicable Interest Period) for a term
     equivalent to the applicable Interest Period at approximately 11:00 A.M.
     (London, England time) two Business Days prior to the first day of the
     applicable Interest Period; or

          (b) if for any reason the foregoing rate in clause (a) is unavailable
     or undeterminable, the offered rate on such other page or other service
     that displays an average British Bankers Association Interest Settlement
     Rate for deposits in U.S. dollars (for delivery on the first day of the
     applicable Interest Period) for a term equivalent to the applicable
     Interest Period at approximately 11:00 A.M. (London, England time) two
     Business Days prior to the first day of the applicable Interest Period; or

                                       7

<PAGE>

          (c) if for any reason the foregoing rates in clauses (a) and (b) are
     unavailable or undeterminable, the rate of interest at which deposits in
     U.S. dollars for delivery on the first day of the applicable Interest
     Period in same day funds in the approximate amount of the applicable
     Eurodollar Loan for a term equivalent to the applicable Interest Period
     would be offered by Reference Banks to major banks in the offshore U.S.
     dollar market at approximately 11:00 A.M. (London, England time) two
     Business Days prior to the first day of the applicable Interest Period.

     "Event of Default" means any event specified in Section 9.1.
      ----------------

     "Existing Letters of Credit" means the letters of credit outstanding on the
      --------------------------
Amendment Date and identified on Schedule 2.9(b).
                                 ---------------

     "Extension of Credit" means, as to any Bank, the making of, or
      -------------------
participation in, a Loan by such Bank (including continuations and conversions
thereof) or the issuance or extension of, or participation in, a Letter of
Credit by such Bank.

     "Facility Fee" shall have the meaning given such term in Section 2.8(a).
      ------------

     "Federal Funds Rate" means, for any day, the rate set forth in the weekly
      ------------------
statistical release designated as H.15(519), or any successor publication,
published by the Federal Reserve Board (including any such successor,
"H.15(519)") for such day opposite the caption "Federal Funds (Effective)". If
 ---------                                      -------------------------
on any relevant day such rate is not yet published in H.15(519), the rate for
such day will be the rate set forth in the daily statistical release designated
as the Composite 3:30 p.m. Quotations for U.S. Government Securities, or any
successor publication, published by the Federal Reserve Bank of New York
(including any such successor, the "Composite 3:30 p.m. Quotation") for such day
                                    -----------------------------
under the caption "Federal Funds Effective Rate". If on any relevant day the
                   ----------------------------
appropriate rate for such day is not yet published in either H.15(519) or the
Composite 3:30 p.m. Quotations, the rate for such day will be the arithmetic
mean of the rates for the last transaction in overnight Federal funds arranged
prior to 9:00 A.M. (New York time) on that day by each of three leading brokers
of Federal funds transactions in New York City selected by Administrative Agent.

     "Federal Reserve Board" means the Board of Governors of the Federal Reserve
      ---------------------
System, or any successor thereto.

     "FML" means First HNS Mauritius Ltd., a business entity organized under the
      ---
laws of Mauritius.

     "Foreign Subsidiary" means a Subsidiary that is not a Domestic Subsidiary.
      ------------------

     "Funded Debt" means, with respect to any Person, without duplication, all
      -----------
(i) obligations for borrowed money, (ii) obligations evidenced by bonds,
debentures, notes or similar instruments or upon which interest payments are
customarily made, (iii) purchase money indebtedness (including, for purposes
hereof, indebtedness and obligations in respect of

                                       8

<PAGE>

conditional sales and title retention agreements relating to property purchased
(other than customary reservation or title retention arrangements under
agreements entered into in the ordinary course of business with suppliers), and
the deferred purchase price of property or services acquired (other than trade
debt and minimum revenue guarantees incurred in the ordinary course of
business)) that would constitute, and be accounted for as, a liability under
GAAP, (iv) the attributed principal amount of obligations owing under capital
leases, (v) the maximum amount available to be drawn under standby letters of
credit (specifically excluding, for purposes hereof, performance letters of
credit and trade letters of credit) and bankers' acceptances issued or created
for its account, (vi) the attributed principal amount of securitization
transactions, (vii) the attributed principal amount of obligations owing under
Synthetic Leases, (viii) preferred stock or comparable equity interests
providing for mandatory redemption, sinking fund or other like payments, other
than the Hughes Series A Preferred Stock, (ix) the Funded Debt of any
partnership or joint venture or other similar entity in which such Person is a
general partner or joint venturer and, as such, has personal liability for such
obligations, but only to the extent there is recourse to such Person for payment
thereof, (x) Support Obligations in respect of Funded Debt of another Person,
and (xi) Funded Debt of another Person secured by a Lien on any of its property,
whether or not such Funded Debt has been assumed, provided, however, for
purposes hereof, the amount of such Funded Debt shall be limited to the amount
of Funded Debt as to which there is recourse or to the fair market value of the
property that is the subject of such lien, if less.

     "GAAP" means generally accepted accounting principles in the United States
      ----
of America applied on a consistent basis, subject to the provisions of Section
1.2.

     "GM" means General Motors Corporation, a Delaware corporation.
      --

     "GMAC" shall have the meaning given such term in Section 8.1(b).
      ----

     "GMAC Cash Secured Note" shall have the meaning given such term in Section
      ----------------------
8.1(b).

     "GMAC Credit Agreement" shall have the meaning given such term in Section
      ---------------------
8.1(b).

     "GMAC Credit Balance Account" means that account holding funds advanced to
      ---------------------------
GMAC pursuant to the GMAC Security Agreement (and any funds so advanced to GMAC
by the Borrower) and pledged to secure the loans and obligations owing under the
GMAC Credit Agreement as provided therein.

     "GMAC Security Agreement" shall have the meaning given such term in Section
      -----------------------
8.1(b).

     "GMAC Shared Collateral Debt" means all loans and obligations (including
      ---------------------------
principal, interest, fees, indemnities and all other amounts, and including
interest accruing after commencement of a proceeding in bankruptcy,
reorganization or insolvency, whether or not allowable as a claim), whether now
or hereafter outstanding or incurred, evidenced by the GMAC Shared Collateral
Note, as amended, modified, supplemented, extended, renewed or replaced;
provided, however, in no event shall the principal amount of the GMAC Shared
--------
Collateral Debt exceed $500 million and interest thereon.

                                       9

<PAGE>

     "GMAC Shared Collateral Note" shall have the meaning given such term in
      ---------------------------
Section 8.1(b).

     "Governmental Authority" means any federal, state, local or foreign court
      ----------------------
or governmental agency, authority, instrumentality or regulatory body.

     "Granting Bank" has the meaning specified in Section 11.11(c).
      -------------

     "Guaranties" means that guaranty agreement dated as of the Amendment Date
      ----------
given by the Subsidiaries identified therein in respect of the loans and
obligations under this Agreement, together with any other guaranty agreements or
guaranty joinder agreements given in respect of the loans and obligations under
this Agreement, in each case as amended and modified.

     "Guarantors" means (i) each of the Significant Subsidiaries identified as a
      ----------
"guarantor" under the Guaranties, including Significant Subsidiaries that may
join in or give a Guaranty subsequent to the Amendment Date, and (ii) HTS and
DCS.

     "Hedging Agreements" means any interest rate protection agreement or
      ------------------
foreign currency exchange agreement.

     "HNS India" means HNS-India, Inc., a Delaware corporation.
      ---------

     "HTS" means Hughes Telecommunications & Space Company, a Delaware
      ---
corporation.

     "Hughes Series A Preferred Stock" means the 2,669,633 outstanding shares of
      -------------------------------
Series A Preferred Stock, par value $.10 per share, of the Borrower that were
originally issued to General Motors in connection with its issuance of 2,669,633
shares of Series H 6.25% Automatically Convertible Preference Stock to America
Online, Inc. on June 21, 1999, or any shares of preferred stock issued in
replacement of, or substitution for, such Series A Preferred Stock in accordance
with the Certificate of Designations relating to the aforementioned Series H
Preferred Stock.

     "Indebtedness" means, with respect to any Person, without duplication, all
      ------------
(i) Funded Debt, (ii) the maximum amount available to be drawn under performance
or trade letters of credit issued for its account, (iii) obligations under
take-or-pay or similar arrangements or under commodities agreements (other than
trade debt and minimum revenue guarantees incurred in the ordinary course of
business), (iv) obligations under Hedging Agreements, (v) Indebtedness of any
partnership or joint venture or other similar entity in which such Person is a
general partner or joint venturer and, as such, has personal liability for such
obligations, but only to the extent there is recourse to such Person for payment
thereof, (vi) Support Obligations in respect of Indebtedness of another Person,
and (vii) Indebtedness of another Person secured by a Lien on any of its
property, whether or not such Indebtedness has been assumed.

     "Intercreditor Agreements" means the Intercreditor Agreement dated the
      ------------------------
Amendment Date among the Borrower, GMAC and Bank of America, in its capacity as
Administrative Agent

                                       10

<PAGE>

and as Collateral Agent, and any other intercreditor agreement entered into by
the Borrower, Bank of America and any holder of Other Guaranty Shared Collateral
Debt, in each case as amended, modified or supplemented from time to time.

     "Interest Payment Date" means, with respect to each Eurodollar Loan, the
      ---------------------
last day of each Interest Period; provided, however, that if any Interest Period
                                  --------  -------
exceeds three months, "Interest Payment Date" shall mean the last day of the
                       ---------------------
third month of such Interest Period, as well as the last day of the relevant
Interest Period; and, with respect to each Base Rate Loan, means the 10th day of
each January, April, July, and October and the Termination Date. If any day
specified herein is not a Business Day or, in the case of a Eurodollar Loan, a
Eurodollar Banking Day, then the relevant Interest Payment Date shall be the
next succeeding Business Day or Eurodollar Banking Day, as applicable, except as
otherwise provided in the definition of Interest Period.

     "Interest Period" means, with respect to each Eurodollar Loan, a period of
      ---------------
one, two, three or six months as selected by Borrower by a Loan Request
delivered to Administrative Agent in accordance with Section 2.2, subject to the
following:

          (i) If the term of an Interest Period is not designated, a period of
     one month shall be deemed selected for the relevant Eurodollar Loan;

          (ii) The first Interest Period for each Loan shall commence on the
     date such Loan is disbursed and each succeeding Interest Period for such
     Loan shall commence on the last day of the preceding Interest Period for
     such Loan;

          (iii) In the case of a Eurodollar Loan, if the last day of an Interest
     Period falls on a day that is not a Eurodollar Banking Day, the Interest
     Period involved shall be extended to the next following Eurodollar Banking
     Day unless as a result thereof it would fall into the next calendar month,
     in which case the end of the Eurodollar Interest Period shall be the
     preceding Eurodollar Banking Day, and in either case the next succeeding
     Eurodollar Interest Period shall be measured from the last day of the
     Interest Period as so adjusted;

          (iv) If an Interest Period for a Eurodollar Loan commences on the last
     Eurodollar Banking Day of a calendar month, it shall end on the last
     Eurodollar Banking Day of a calendar month; and

          (v) No Interest Period shall end on a day later than the Termination
     Date.

     "Investment" in any Person means (i) the acquisition (whether for cash,
      ----------
property, services, assumption of Indebtedness, securities or otherwise) of
capital stock, bonds, notes, debentures, partnership, joint ventures or other
ownership interests or other securities of such Person, (ii) any deposit with,
or advance, loan or other extension of credit to, such Person (other than
deposits made in connection with the purchase of equipment or other assets in
the ordinary course of business), (iii) any other capital contribution to or
investment in such Person, including, without limitation, any Support
Obligations (including any support for a letter of credit issued on behalf of
such Person) incurred for the benefit of such Person, but excluding any

                                       11

<PAGE>

Restricted Payment to such Person, and (iv) to the extent not covered by the
foregoing categories, any other Acquisition.

     "Issuing Bank" means Bank of America, N.A.
      ------------

     "Issuing Bank Fees" shall have the meaning given such term in Section
      -----------------
2.8(b).

     "Lending Office" means with respect to any Bank as the context shall
      --------------
require, the branch office of such Bank designated as the Lending Office of such
Bank in Exhibit D attached hereto and incorporated herein by reference; or any
other branch office or Affiliate of such Bank hereafter selected and notified to
Borrower and Administrative Agent from time to time by such Bank; provided that
any Bank may from time to time by notice to Borrower and Administrative Agent
designate separate Lending Offices for its Eurodollar Loans and/or its Base Rate
Loans, in which case any reference to the Lending Office of such Bank shall be
deemed to refer to any or all of such offices, branches or affiliates as the
context may require.

     "Letter of Credit" means any letter of credit issued by the Issuing Bank
      ----------------
for the account of Borrower under Section 2.1(b).

     "Letter of Credit Fee" shall have the meaning given such term in Section
      --------------------
2.8(b).

     "Lien" means any trust deed, mortgage, pledge, hypothecation, assignment,
      ----
security interest, lien, charge or encumbrance, or preference, priority or other
security agreement or preferential arrangement of any kind or nature whatsoever
(including, without limitation, the lien of an attachment, judgment or
execution, or any conditional sale or other title retention agreement, any
capitalized lease, and the filing of, or agreement to give, any financing
statement under the Uniform Commercial Code or comparable law of any
jurisdiction, but excluding financing statements filed to give notice of leases
in the ordinary course of business).

     "Loan" or "Loans" means the Revolving Loans and the Term Loan, and the Base
      ----      -----
Rate Loans and Eurodollar Loans comprising such Loans.

     "Loan Documents" means this Agreement, the Notes, the Guaranties, the LOC
      --------------
Documents, the Collateral Documents and all other related agreements and
documents issued or delivered hereunder or thereunder or pursuant hereto or
thereto.

     "Loan Obligations" means the Revolving Obligations and the Term Loan.
      ----------------

     "Loan Request" means a notice given by Borrower pursuant to Section
      ------------
2.2(a)(i) or (ii).

     "LOC Commitment" means, with respect to the Issuing Bank, the commitment of
      --------------
the Issuing Bank to issue, and to honor payment obligations under, Letters of
Credit and, with respect to each Bank, the commitment of such Bank to purchase
participation interests in the Letters of Credit.

     "LOC Committed Amount" shall have the meaning given such term in Section
      --------------------
2.1(b).

                                       12

<PAGE>

     "LOC Documents" means, with respect to any Letter of Credit, such Letter of
      -------------
Credit, any amendments thereto, any documents delivered in connection therewith,
any application therefor, and any agreements, instruments, guarantees or other
documents (whether general in application or applicable only to such Letter of
Credit) governing or providing for (i) the rights and obligations of the parties
concerned or at risk or (ii) any collateral security for such obligations.

     "LOC Obligations" means, at any time, the sum of (i) the maximum amount
      ---------------
which is, or at any time thereafter may become, available to be drawn under
Letters of Credit then outstanding, assuming compliance with all requirements
for drawings referred to in such Letters of Credit plus (ii) the aggregate
amount of all drawings under Letters of Credit honored by the Issuing Bank but
not theretofore reimbursed.

     "Majority Banks" means those Banks whose Commitments constitute at least
      --------------
60% of the Total Commitment as such Total Commitment may be adjusted from time
to time pursuant to the terms of this Agreement, or if the Commitments have
terminated, those Banks holding at least 60% of the outstanding Loans.

     "Material Adverse Effect" means a material adverse effect on the condition
      -----------------------
(financial or otherwise), operations, business, assets or liabilities of the
Credit Parties taken as a whole.

     "Moody's" means Moody's Investors Service, Inc.
      -------

     "Non-Core Assets" means any business not identified as a Core Asset.
      ---------------

     "Normal Percentage" means, with respect to each Bank, the percentage under
      -----------------
the heading "Normal Percentage" set forth opposite such Bank's name on Schedule
             -----------------                                         --------
1 hereto, as such amount may be reduced or changed pursuant to Section 3.6 or
Section 11.11.

     "Notes" means the Revolving Notes and the Term Notes.
      -----

     "Notice of Assignment and Acceptance" means a Notice of Assignment and
      -----------------------------------
Acceptance substantially in the form of Exhibit G.
                                        ---------

     "Other Guaranty Shared Collateral Debt" means those guaranty obligations of
      -------------------------------------
the Borrower in respect of loans, letters of credit reimbursement obligations
and lines of credit extended to its subsidiaries as set forth on Schedule 8.1B
                                                                 -------------
hereto by those Banks under this Agreement that have entered into an
Intercreditor Agreement with the Administrative Agent and the Collateral Agent,
in each case as amended, modified, supplemented, extended, renewed or replaced;
provided, however, in no event shall the principal amount of the Other Guaranty
--------
Shared Collateral Debt exceed $150 million and interest thereon.

     "PAS" means PanAmSat Corporation, a Delaware corporation, and all of its
      ---
subsidiaries.

     "Permitted Acquisition" means any Acquisition, provided that such
      ---------------------
Acquisition is either (A) described in Schedule 8.5(c) or (B) (i) the property
                                       ---------------
acquired (or the property of the Person acquired) in such Acquisition shall be
used or useful in the same or similar line of business as the members of the
Consolidated Group on the Amendment Date, (ii) all property to be acquired in

                                       13

<PAGE>

connection with such Acquisition shall be located in the United States of
America, (iii) in the case of an Acquisition of the capital stock or other
equity interest of another Person, the board of directors (or other comparable
governing body) of such other Person shall have duly approved such Acquisition,
(iv) no Event of Default or Unmatured Event of Default shall exist immediately
after giving effect to such Acquisition, (v) the representations and warranties
made by the Borrower herein shall be true and correct in all material respects
at and as if made as of the date of such Acquisition (after giving effect
thereto) except to the extent such representations and warranties expressly
relate to an earlier date, and (vi) the Borrower shall have delivered to the
Administrative Agent a compliance certificate signed by an Authorized Designee
demonstrating compliance with the financial covenants hereunder after giving
effect to the subject Acquisition on a Pro Forma Basis and reaffirming that the
representations and warranties made hereunder are true and correct in all
material respects as of such date.

     "Permitted Investments" means Investments that are (i) cash and Cash
      ---------------------
Equivalents; (ii) accounts receivable created, acquired or made in the ordinary
course of business and payable or dischargeable in accordance with customary
trade terms; (iii) Investments consisting of capital stock, obligations,
securities or other property received in settlement of accounts receivable
(created in the ordinary course of business) from bankrupt obligors or in
settlement of litigation with respect to disputed receivables; (iv) Investments
made prior to the Amendment Date and set forth in Schedule 8.7; (v) advances or
                                                  ------------
loans to directors, officers and employees that do not exceed $5 million in the
aggregate at any one time outstanding; (vi) all loans and advances to retail
subscribers in the ordinary course of business, (vii) loans and advances to
other customers and suppliers in the ordinary course of business, provided that
loans and advances to other customers and suppliers made after the Amendment
Date hereunder and investments under clause (xii) hereof shall not exceed $50
million in the aggregate at any time; (viii) Investments by members of the
Consolidated Group in their Subsidiaries and Affiliates (including specifically
without limitation the GMAC Credit Balance Account) existing on the Amendment
Date, and extensions, renewals or replacements of such Investments, (ix)
Investments by members of the Consolidated Group in and to Domestic Credit
Parties, (x) Investments by Credit Parties in members of the Consolidated Group
that are not Credit Parties (including intercompany debt) made after the
Amendment Date in an aggregate amount not to exceed $525 million at any time,
(xi) conversions of intercompany debt into equity to the extent such
intercompany debt is permitted by any other clauses hereof, (xii) equity in or
assets of programming suppliers or distributors of DIRECTV services, provided
that the cash expended in connection with such investments after the Amendment
Date hereunder and investments under clause (vii) hereof shall not to exceed $50
million in the aggregate, and (xiii) other Investments not included in the
foregoing subsections, including Permitted Acquisitions from the Amendment Date,
in an amount not to exceed $100 million in the aggregate at any time
outstanding.

     "Permitted Liens" means:
      ---------------

          (i) Liens given to secure ratably (A) the loans and obligations
     hereunder and under the other Loan Documents, (B) the GMAC Shared
     Collateral Debt, (C) the Other Guaranty Shared Collateral Debt and (D)
     obligations under interest rate protection, foreign currency exchange
     agreements and similar agreements with Banks under this Agreement or with
     their affiliates;

                                       14

<PAGE>

          (ii) Liens on up to $1.5 billion cash advanced by the Borrower to GMAC
     pursuant to the GMAC Security Agreement and held on deposit in the GMAC
     Credit Balance Account, and accrued interest thereon, securing loans and
     obligations evidenced by the GMAC Cash Secured Note and accrued interest
     thereon;

          (iii) Liens on cash collateral given to secure indebtedness described
     on Schedule 8.1B hereto;
        -------------

          (iv) Liens (other than Liens created or imposed under ERISA) for
     taxes, assessments or governmental charges or levies not yet due or Liens
     for taxes being contested in good faith by appropriate proceedings for
     which adequate reserves determined in accordance with GAAP have been
     established (and as to which the property subject to any such Lien is not
     yet subject to foreclosure, sale or loss on account thereof);

          (v) statutory Liens of landlords and Liens of carriers, warehousemen,
     mechanics, materialmen and suppliers and other Liens imposed by law or
     pursuant to customary reservations or retentions of title arising in the
     ordinary course of business, provided that such Liens secure only amounts
                                  --------
     not yet due and payable or, if due and payable, are unfiled and no other
     action has been taken to enforce the same or are being contested in good
     faith by appropriate proceedings for which adequate reserves determined in
     accordance with GAAP have been established (and as to which the property
     subject to any such Lien is not yet subject to foreclosure, sale or loss on
     account thereof);

          (vi) Liens (other than Liens created or imposed under ERISA) incurred
     or deposits made by any member of the Consolidated Group in the ordinary
     course of business in connection with workers' compensation, unemployment
     insurance and other types of social security, or to secure the performance
     of tenders, statutory obligations, bids, leases, government contracts,
     performance and return-of-money bonds and other similar obligations
     (exclusive of obligations for the payment of borrowed money);

          (vii) Liens in connection with attachments or judgments (including
     judgment or appeal bonds) provided that the judgments secured shall, within
                               --------
     thirty days after the entry thereof, have been discharged or execution
     thereof stayed pending appeal, or shall have been discharged within thirty
     days after the expiration of any such stay;

          (viii) easements, rights-of-way, covenants, restrictions (including
     zoning restrictions), minor defects or irregularities in title and other
     similar charges or encumbrances not, in any material respect, impairing the
     use of the encumbered property for its intended purposes;

          (ix) Liens on property of any Person securing purchase money and
     sale/leaseback Indebtedness (including capital leases and Synthetic Leases)
     of such Person to the extent permitted under Section 8.1(d), provided, that
                                                                  --------
     any such Lien attaches only to the property financed or leased and such
     Lien attaches prior to, at the time of or

                                       15

<PAGE>

     180 days after the later of the date of acquisition of such property or the
     date such property is placed in service, for the purpose of financing all
     or any part of the purchase price thereof; provided, however, that for
                                                --------  -------
     purposes of this clause (ix), (i) a satellite will be treated as a newly
     acquired asset as of the date it is placed in service and (ii) any
     satellite transponder acquired through the exercise of an early buy-out
     option shall be treated as a newly-acquired asset as of the date such
     option is exercised;

          (x) leases or subleases granted to others not interfering in any
     material respect with the business of any member of the Consolidated Group;

          (xi) any interest or title of a lessor under, and Liens arising from
     UCC financing statements (or equivalent filings, registrations or
     agreements in foreign jurisdictions) relating to, leases permitted by this
     Agreement;

          (xii) Liens in favor of customs and revenue authorities arising as a
     matter of law to secure payment of customs duties in connection with the
     importation of goods; Liens deemed to exist in connection with Investments
     in repurchase agreements that constitute Permitted Investments;

          (xiii) normal and customary rights of setoff upon deposits of cash in
     favor of banks or other depository institutions;

          (xiv) Liens of a collection bank arising under Section 4-210 of the
     Uniform Commercial Code on items in the course of collection;

          (xv) Liens existing as of the Amendment Date and set forth on Schedule
                                                                        --------
     6.13; provided that (A) no such Lien shall at any time be extended to or
     ----  --------
     cover any property other than the property subject thereto on the Amendment
     Date and (B) the principal amount of the Indebtedness secured by such Liens
     shall not be increased and shall be on then applicable market terms (except
     in the case of Liens in favor of GMAC which shall be on existing terms);
     and

          (xvi) Liens on assets described in Schedule 3.4(b)(ii) to secure
                                             -------------------
     indebtedness permitted under Section 8.1(j).

     "Person" means any individual, firm, company, corporation, joint venture,
      ------
joint-stock company, trust, unincorporated organization, governmental or state
entity, or any association or partnership (whether or not having separate legal
personality) of two or more of the foregoing.

     "Plan" means any employee benefit pension plan which is subject to the
      ----
provisions of Title IV of ERISA and which is maintained for employees of
Borrower or any Subsidiary.

     "Pledge Agreement" means the pledge agreement dated as of the Amendment
      ----------------
Date given by the Credit Parties to secure ratably the obligations referred to
in paragraph (i) of the definition of "Permitted Liens", as amended and
modified.

                                       16

<PAGE>

     "Principal Amount" means, when used with reference to any Loan, the amount
      ----------------
requested in the Loan Request relating thereto and made available to Borrower by
the Banks hereunder.

     "Principal Repayment Date" means, with respect to each Base Rate Loan, the
      ------------------------
Termination Date.

     "Pro Forma Basis" means, for purposes of determining compliance with the
      ---------------
financial covenants hereunder, that the subject transaction shall be deemed to
have occurred as of the first day of the period of four consecutive fiscal
quarters ending as of the end of the most recent fiscal quarter for which annual
or quarterly financial statements shall have been delivered in accordance with
the provisions hereof. Further, for purposes of making calculations on a "Pro
Forma Basis" hereunder, (i) in the case of an Asset Disposition, (A) income
-----------
statement items (whether positive or negative) attributable to the property,
entities or business units that are the subject of the disposition shall be
excluded to the extent relating to any period prior to the date of subject
transaction, and (B) Indebtedness paid or retired in connection with the subject
transaction shall be deemed to have been paid and retired as of the first day of
the applicable period; and (ii) in the case of an Acquisition, (A) income
statement items (whether positive or negative) attributable to the property,
entities or business units that are the subject of the acquisition shall be
included to the extent relating to any period prior to the date of subject
transaction, and (B) Indebtedness incurred in connection with the subject
transaction shall be deemed to have been incurred as of the first day of the
applicable period (and interest expense shall be imputed for the applicable
period assuming prevailing interest rates hereunder).

     "Reference Banks" means Bank of America, Citibank, N.A. and JPMorgan Chase
      ---------------
Bank.

     "Reportable Event" means any of the events set forth in Section 4043(b) of
      ----------------
ERISA or the regulations thereunder excluding those events for which the 30-day
notice requirement is waived, a withdrawal from a Plan described in Section 4063
of ERISA, or a cessation of operations described in Section 4062(e) of ERISA.

     "Requirement of Law" means, as to any Person, the certificate of
      ------------------
incorporation and by-laws or other organizational or governing documents of such
Person, and any law, treaty, rule, regulation or ordinance or determination of
an arbitrator or a court or other Governmental Authority, in each case
applicable to or binding upon such Person or to which any of its material
property is subject.

     "Restricted Payment" means, with respect to any Person, (i) any dividend or
      ------------------
other payment or distribution, direct or indirect, on account of any shares of
any class of capital stock or other equity interest of such Person, now or
hereafter outstanding (including, without limitation, any payment in connection
with any dissolution, merger, consolidation or disposition of such Person), or
to the holders, in their capacity as such, of any shares of any class of capital
stock or other equity interest of such Person, now or hereafter outstanding
(other than dividends or distributions payable in the same class of capital
stock or other equity interest of the applicable Person), (ii) any redemption,
retirement, sinking fund or similar payment, purchase or other acquisition for
value, direct or indirect, of any shares of any class of capital stock or other
equity interest of such Person, now or hereafter outstanding, and (iii) any
payment made to retire,

                                       17

<PAGE>

or to obtain the surrender of, any outstanding warrants, options or other rights
to acquire shares of any class of capital stock or other equity interest of such
Person, now or hereafter outstanding.

     "Revolving Commitment" of each Bank means the dollar amount set forth
      --------------------
opposite such Bank's name on Schedule 1 hereto, as such amount may be reduced or
                             ----------
changed pursuant to Sections 3.5 and 3.6.

     "Revolving Committed Amount" means, for each Bank, the amount of such
      --------------------------
Bank's Revolving Commitment. The respective Revolving Committed Amounts as of
the Amendment Date are identified on Schedule 1 hereto.
                                     ----------

     "Revolving Loans" shall have the meaning given such term in Section 2.1(a).
      ---------------

     "Revolving Notes" means the promissory notes, if any, evidencing the
      ---------------
Revolving Loans, as amended, modified, supplemented, extended, renewed or
replaced.

     "Revolving Obligations" means, collectively, the Revolving Loans and the
      ---------------------
LOC Obligations.

     "S&P" means Standard & Poor's Ratings Group.
      ---

     "Security Agreement" means the security agreement dated as of the Amendment
      ------------------
Date given by the Credit Parties to secure ratably the obligations referred to
in paragraph (i) of the definition of "Permitted Liens", as amended and
modified.

     "Significant Subsidiary" means each Subsidiary of the Borrower with assets
      ----------------------
that in the aggregate exceed $50 million determined in accordance with GAAP;
provided, however, neither HTS and its Subsidiaries nor HNS India and its
--------
Subsidiaries nor FML and its Subsidiaries shall be considered Significant
Subsidiaries for purposes of this Agreement.

     "SPC" has the meaning specified in Section 11.11(c).
      ---

     "Subsidiaries" (individually a "Subsidiary") means those corporations or
      ------------                   ----------
entities of which Borrower owns, directly or indirectly, more than 50% of the
voting securities. If Borrower, subject to the terms hereof, permits its
ownership to fall to 50% or below of outstanding voting shares of any
Subsidiary, such Subsidiary shall thereupon cease to be a Subsidiary for all
purposes hereof.

     "Support Obligations" means, with respect to any Person, without
      -------------------
duplication, any obligations of such Person (other than endorsements in the
ordinary course of business of negotiable instruments for deposit or collection)
guaranteeing or intended to guarantee any Indebtedness of any other Person in
any manner, whether direct or indirect, and including, without limitation, any
obligation, whether or not contingent, (i) to purchase any such Indebtedness or
any property constituting security therefor, (ii) to advance or provide funds or
other support for the payment or purchase of any such Indebtedness or to
maintain working capital, solvency or other balance sheet condition of such
other Person (including, without limitation, keep-well agreements, maintenance
agreements or similar agreements or

                                       18

<PAGE>

arrangements) for the benefit of any holder of Indebtedness of such other
Person, (iii) to lease or purchase property, securities or services primarily
for the purpose of assuring the holder of such Indebtedness, or (iv) to
otherwise assure or hold harmless the holder of such Indebtedness against loss
in respect thereof. The amount of any Support Obligation hereunder shall
(subject to any limitations set forth therein) be deemed to be an amount equal
to the outstanding principal amount (or maximum principal amount, if larger) of
the Indebtedness in respect of which such Support Obligation is made.

     "SurFin Credit Facilities" means (i) that certain Credit Agreement among
      ------------------------
SurFin Ltd., Citicorp USA, Inc., as administrative agent, and the other lenders
from time to time party thereto dated as of June 3, 1999, as amended from time
to time thereafter and (ii) that certain Credit Agreement among SurFin Ltd.,
Citicorp USA, Inc., as administrative agent, and the other lenders from time to
time party thereto dated as of September 20, 2000, as amended from time to time
hereafter.

     "Synthetic Lease" means any synthetic lease, tax retention operating lease,
      ---------------
off-balance sheet loan or similar off-balance sheet financing product where such
transaction is considered borrowed money indebtedness for tax purposes but is
classified as an operating lease under GAAP.

     "Tax" and "Taxes" mean all taxes, levies, imposts, duties, fees or other
      ---       -----
charges of whatsoever nature however imposed by any country or any subdivision
or authority of or in that country in any way connected with this Agreement or
any instrument or agreement required hereunder, and all interest, penalties or
similar liabilities with respect thereto, except such taxes as are imposed on or
measured by any Bank's net income or capital and franchise taxes, by the country
or any subdivision or authority of or in that country in which such Bank's
principal office or actual Lending Office is located.

     "Term Loan" shall have the meaning given such term in Section 2.1(c).
      ---------

     "Term Loan Commitment" means the commitment of each Bank to make its
      --------------------
portion of the Term Loan hereunder, being the dollar amount set forth opposite
such Bank's name on Schedule 1 hereto, as such amount may be reduced or changed
                    ----------
pursuant to Sections 3.5 and 3.6; provided that for purposes of making
                                  --------
determinations of Majority Banks hereunder and for other purposes after date of
advance of Term Loan, the principal amount of the "Term Loan Commitments"
                                                   ---------------------
hereunder shall be the outstanding principal amount of the Term Loan.

     "Term Loan Committed Amount" means, for each Bank, the amount of such
      --------------------------
Bank's Term Loan Commitment. The respective Term Loan Committed Amounts as of
the Amendment Date are identified on Schedule 1 hereto.
                                     ----------

     "Term Notes" means the promissory notes, if any, evidencing the Term Loan,
      ----------
as amended, modified, supplemented, extended, renewed or replaced.

     "Termination Date" means the earlier of (i) December 5, 2002 or, if such
      ----------------
day is not a Business Day, the next preceding Business Day or (ii) the effective
date of the merger between

                                       19

<PAGE>

the Borrower (or HEC Holdings, Inc., a holding company formed to hold all of the
capital stock of the Borrower) and EchoStar Communications Corporation (or any
of its subsidiaries) pursuant to the terms of the EchoStar Transaction
Documents.

     "Total Commitment" means the aggregate amount of the Commitments.
      ----------------

     "Total Revolving Commitments" shall have the meaning given such term in
      ---------------------------
Section 2.1(a).

     "Unmatured Event of Default" means an event which with the passage of time
      --------------------------
or the giving of notice, or both, would become an Event of Default.

     "Voting Stock" means capital stock of Borrower having voting power under
      ------------
ordinary circumstances to elect directors of Borrower.

     "Withdrawal Liability" means, as of any determination date, the aggregate
      --------------------
amount of the liabilities, if any, pursuant to Section 4201 of ERISA if the
Borrower or any ERISA Affiliate made a complete withdrawal from all Plans and
any increase in contributions pursuant to Section 4243 or ERISA.

     1.2 Accounting Terms.
         ----------------

Except as otherwise expressly provided herein, all accounting terms used herein
shall be interpreted, and all financial statements and certificates and reports
as to financial matters required to be delivered hereunder shall be prepared, in
accordance with GAAP applied on a consistent basis. All calculations made for
the purposes of determining compliance with this Credit Agreement shall (except
as otherwise expressly provided herein) be made by application of GAAP applied
on a basis consistent with the most recent annual or monthly financial
statements delivered pursuant to Section 7.5 (or, prior to the delivery of the
first financial statements pursuant to Section 7.5, consistent with the annual
audited financial statements referenced in Section 6.5(a)); provided, however,
if (a) the Borrower shall object to determining such compliance on such basis at
the time of delivery of such financial statements due to any change in GAAP or
the rules promulgated with respect thereto or (b) the Administrative Agent or
the Majority Banks shall so object in writing within sixty days after delivery
of such financial statements, then such calculations shall be made on a basis
consistent with the most recent financial statements delivered as to which no
such objection shall have been made.

                                    SECTION 2
                                   THE CREDIT

     2.1 The Commitments.
         ---------------

     (a) Revolving Commitments. From time to time, during the Availability
         ---------------------
Period, each Bank with a Revolving Commitment agrees to lend to the Borrower in
U.S. dollars (the "Revolving Loans") the amount set forth opposite such Bank's
                   ---------------
name and identified as its "Revolving Commitment" on Schedule 1 hereto, subject
                            --------------------     ----------
to reduction or change of such amount at the Borrower's option pursuant to
Sections 3.5 and 3.6; provided that (i) with regard to the
                      --------

                                       20

<PAGE>

Banks collectively, the aggregate principal amount of Revolving Obligations
outstanding at any time shall not exceed ONE BILLION TWO HUNDRED THIRTY-FIVE
MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($1,235,250,000) (as such amount may
be reduced as provided herein, the "Total Revolving Commitments"), and (ii) with
                                    ---------------------------
regard to each such Bank individually, such Bank's pro rata share of the
Revolving Obligations shall not exceed such Bank's Revolving Committed Amount.
Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a
combination thereof, as the Borrower may request, and subject to the terms and
conditions provided herein, amounts repaid on the Revolving Loans may be
reborrowed.

     (b) Letter of Credit Commitment. From time to time, during the Availability
         ---------------------------
Period, subject to the terms and conditions hereof and of the LOC Documents, if
any, and such other terms and conditions which the Issuing Bank may reasonably
require, the Issuing Bank shall issue, and the Banks with Revolving Commitments
shall participate in, such Letters of Credit in U.S. dollars as the Borrower may
request for its own account or for the account of its Subsidiaries and
Affiliates as provided herein, in a form acceptable to the Issuing Bank, for the
purposes hereinafter set forth; provided that (i) the aggregate amount of LOC
                                --------
Obligations outstanding at any time shall not exceed ONE HUNDRED MILLION DOLLARS
($100,000,000) (as such amount may be reduced as provided herein, the "LOC
                                                                       ---
Committed Amount"), (ii) with regard to the Banks collectively, the aggregate
----------------
principal amount of Revolving Obligations outstanding at any time shall not
exceed the Total Revolving Commitments, and (iii) with regard to each such Bank
individually, such Bank's pro rata share of the Revolving Obligations shall not
exceed such Bank's Revolving Committed Amount. Letters of Credit shall not have
an original expiry date more than one year from the date of issuance or
extension (although Letters of Credit may provide for automatic renewals or
extensions prior to the expiry thereof). No Letter of Credit shall have an
expiry date, whether as originally issued or by extension, extending beyond the
Termination Date, unless the Borrower agrees to provide cash collateral on the
Termination Date in the amount of the LOC Obligations extending beyond the
Termination Date. Each Letter of Credit shall comply with the related LOC
Documents. The issuance of each Letter of Credit shall be on a Business Day.

     (c) Term Loan Commitment. On or after the Amendment Date, the Borrower may
         --------------------
elect to establish a Term Loan Facility as provided in Section 3.6(b), and in
any such case, each Bank with a Term Loan Commitment will lend to the Borrower
in U.S. dollars (the "Term Loans") the amount set forth opposite such Bank's
                      ----------
name and identified as its "Term Loan Commitment" on Schedule 1 hereto. The Term
                            --------------------     ----------
Loan may consist of Base Rate Loans or Eurodollar Loans, or a combination
thereof, as the Borrower may request. Amounts repaid on the Term Loan may not be
reborrowed.

     (d) Bid Rate Loans. Bid Rate Loans previously available under this
         --------------
Agreement prior to the Amendment Date will no longer available.

                                       21

<PAGE>

     2.2 Method of Borrowing.
         -------------------

     (a) Notice of Request for Extensions of Credit. The Borrower shall request
         ------------------------------------------
an Extension of Credit by written notice from an Authorized Designee (or
telephonic notice promptly confirmed in writing) as follows:

          (i) Revolving Loans. In the case of Revolving Loans, by the Borrower
              ---------------
     to the Administrative Agent not later than 9:00 A.M. (California time) on
     the day of the requested borrowing (which shall be a Business Day) in the
     case of Base Rate Loans, and on the third Business Day prior to the date of
     the requested borrowing in the case of Eurodollar Loans. Each such request
     for borrowing shall be irrevocable and shall specify (A) that a Revolving
     Loan is requested, (B) the date of the requested borrowing (which shall be
     a Business Day), (C) the aggregate principal amount to be borrowed, and (D)
     whether the borrowing shall be comprised of Base Rate Loans, Eurodollar
     Loans or a combination thereof, and if Eurodollar Loans are requested, the
     Interest Period(s) therefor. A form of Loan Request is attached as Exhibit
                                                                        -------
     A-1. The Administrative Agent shall give notice to each Bank with a
     ---
     Revolving Commitment promptly upon receipt of each Loan Request pursuant to
     this Section 2.2(a)(i), the contents thereof and each such Bank's share of
     any borrowing to be made pursuant thereto.

          (ii) Letters of Credit. In the case of Letters of Credit, by the
               -----------------
     Borrower to the Issuing Bank with a copy to the Administrative Agent not
     later than 9:00 A.M. (California time) on the third Business Day prior to
     the date of the requested issuance or extension (or such shorter period as
     may be agreed by the Issuing Bank). Each such request for issuance or
     extension of a Letter of Credit shall be irrevocable and shall specify,
     among other things, (A) that a Letter of Credit is requested, (B) the date
     of the requested issuance or extension, (C) the type, amount, expiry date
     and terms on which the Letter of Credit is to be issued or extended, and
     (D) the beneficiary. A form of Notice of Request for Letter of Credit is
     attached as Exhibit A-2.
                 -----------

          (iii) Term Loan. In the case of the Term Loan, to the Administrative
                ---------
     Agent not later than 9:00 A.M. (California time) on the day of the
     requested borrowing in the case of Base Rate Loans, and on the third
     Business Day prior to the day of the requested borrowing in the case of
     Eurodollar Loans. Each such request for borrowing shall be irrevocable and
     shall specify (A) that an advance of the Term Loan is requested, (B) the
     aggregate principal amount to be borrowed, and (C) whether the borrowing
     shall be comprised of Base Rate Loans, Eurodollar Loans or a combination
     thereof, and if Eurodollar Loans are requested, the Interest Period(s)
     therefor. A form of Loan Request is attached as Exhibit A-1. The
                                                     -----------
     Administrative Agent shall give notice to each Bank with a Term Loan
     Commitment promptly upon receipt of each Loan Request pursuant to this
     Section 2.1(a)(v), the contents thereof and each such Bank's share of any
     borrowing to be made pursuant thereto.

     (b) Minimum Amounts. Each Loan advance shall be in a minimum principal
         ---------------
amount of $5,000,000 (or, if less, the remaining Total Revolving Commitments)
and integral multiples of $1,000,000 in excess thereof.

                                       22

<PAGE>

     (c) Information Not Provided. If in connection with any such request for a
         ------------------------
Loan, the Borrower shall fail to specify (i) an applicable Interest Period in
the case of a Eurodollar Loan, the Borrower shall be deemed to have requested an
Interest Period of one month, or (ii) the type of loan requested, the Borrower
shall be deemed to have requested a Base Rate Loan.

     (d) Maximum Number of Eurodollar Loans. In connection with any request for
         ----------------------------------
a Loan, (i) Revolving Loans may be comprised of no more than ten (10) Eurodollar
Loans outstanding at any time, and (ii) the Term Loan shall be comprised of no
more than five (5) Eurodollar Loans outstanding at any time. For purposes
hereof, Eurodollar Loans with separate or different Interest Periods will be
considered as separate Eurodollar Loans even if their Interest Periods expire on
the same date.

     2.3 Interest.
         --------

     (a) Subject to Section 2.7(f), the Loans shall bear interest at a per annum
rate, payable in arrears on each applicable Interest Payment Date (or at such
other times as may be specified herein), as follows:

          (i) Base Rate Loans. During such periods as the Loans shall be
              ---------------
     comprised of Base Rate Loans, a rate equal to the sum of the Base Rate plus
     (A) in the case of Revolving Loans that are Base Rate Loans, (i) one
     hundred fifty basis points (1.50%) with respect to each day on which the
     aggregate amount of Revolving Obligations is less than or equal to fifty
     percent (50%) of the Total Revolving Commitments and (ii) one hundred
     sixty-two and one-half basis points (1.625%) with respect to each day on
     which the aggregate amount of Revolving Obligations is greater than fifty
     percent (50%) of the Total Revolving Commitments and (B) in the case of the
     portion of the Term Loan that is comprised of Base Rate Loans, two hundred
     basis points (2.0%) (in each case computed daily on the basis of a 365 or
     366, as the case may be, day year and actual days elapsed); and

          (ii) Eurodollar Loans. During such periods as the Loans shall be
               ----------------
     comprised of Eurodollar Loans, a rate equal to the sum of the Eurodollar
     Rate plus (A) in the case of Revolving Loans that are Eurodollar Loans, (i)
     two hundred fifty basis points (2.50%) with respect to each day on which
     the aggregate amount of Revolving Obligations is less than or equal to
     fifty percent (50%) of the Total Revolving Commitments, and (ii) two
     hundred sixty-two and one-half basis points (2.625%) with respect to each
     day on which the aggregate amount of Revolving Obligations is greater than
     fifty percent (50%) of the Total Revolving Commitments, and (B) in the case
     of the portion of the Term Loan that is comprised of Eurodollar Loans,
     three hundred basis points (3.0%), (in each case computed daily on the
     basis of a 360 day year and actual days elapsed).

     (b) [Intentionally Omitted.]

                                       23

<PAGE>

     2.4 Repayment.
         ---------

     (a) Revolving Loans. The principal amount of all Revolving Loans shall be
         ---------------
due and payable in full on the Termination Date.

     (b) Term Loan. The principal amount of the Term Loan shall be due and
         ---------
payable in full on the Termination Date.

     2.5 Loan Accounts and Notes. Each Bank shall open and maintain on its books
         -----------------------
one or more loan accounts in Borrower's name. Each loan account shall show
(without duplication) as debits thereto each Bank's portion of each Base Rate
Loan and/or Eurodollar Loan and as credits thereto all Base Rate Loan and/or
Eurodollar Loan payments received by such Bank for the account of such Bank and
applied to principal so that the balance of the loan account(s) at all times
reflect the principal amount due each Bank from Borrower as Base Rate Loans and
Eurodollar Loans. All entries in said books shall be presumptive evidence of the
making of each Base Rate Loan and Eurodollar Loan, the obligation of Borrower to
repay each Base Rate Loan and Eurodollar Loan, and all payments received and
disbursed by such Bank. Borrower agrees that if, in the opinion of any Bank, a
promissory note or other evidence of debt is required or appropriate to reflect
or enforce any Loans outstanding to or to be made by such Bank, then Borrower
shall promptly execute and deliver to such Bank one or more promissory notes
payable to such Bank to evidence the Loans outstanding to such Bank under this
Agreement from time to time, together with such documents as such Bank may
reasonably request to evidence the due authorization, execution, delivery and
enforceability of such notes. If any notes are issued hereunder, Administrative
Agent and Borrower may treat the payee of that note as the owner of such note
for all purposes.

     2.6 Conversion and Continuation of Loans and Interest Periods.
         ---------------------------------------------------------

     (a) On any Eurodollar Banking Day Borrower may convert on a pro rata basis
among the Banks based on their respective Commitments any outstanding Base Rate
Loans or Eurodollar Loans into any other type of Loan available to Borrower
hereunder, or Borrower may change the Interest Period of any Eurodollar Loan to
another Interest Period available under this Agreement, subject to the following
limitations:

          (i) No conversion of any Eurodollar Loan into any other Loan and no
     continuation or conversion of the Interest Period of any Eurodollar Loan
     may be made except on the last day of an Interest Period with respect
     thereto; and

          (ii) Any continuation or conversion shall be preceded by an
     irrevocable written or telephonic notice from Borrower that it elects such
     continuation or conversion, which notice shall be received by
     Administrative Agent at least three (3) Eurodollar Banking Days prior to
     the date requested for such conversion from or into a Eurodollar Loan or
     continuation or conversion of the Interest Period of a Eurodollar Loan.

     (b) Banks shall not be obligated to make or continue any Eurodollar Loan
when any Event of Default has occurred and is continuing, but any outstanding
Eurodollar Loan shall be

                                       24

<PAGE>

automatically converted to a Base Rate Loan on the last day of the Interest
Period for which a Eurodollar Rate was determined by Administrative Agent
following occurrence of such Event of Default, and, unless Section 2.7(f) is
applicable, Borrower shall be obligated to pay interest at the Base Rate from
the date any Loan is so converted until such Loan is repaid in full regardless
of the date when Administrative Agent obtains knowledge of such Event of
Default.

     (c) Each conversion of a Loan into a Base Rate Loan or a Eurodollar Loan,
as the case may be, shall be effected by each Bank, on behalf of Borrower, as
applicable, by making a simultaneous payment of the relevant Eurodollar Loan, or
Base Rate Loan, as the case may be, from the proceeds of the new Loans,
procedures with respect thereto to be governed by the provisions of Section 2.2,
except that disbursement shall be made by means of such payment rather than
directly to Borrower to the extent applicable with respect to each Bank.

     (d) If upon the expiration of any Interest Period applicable to Eurodollar
Loans, Borrower has failed to select a new Interest Period to be applicable
thereto, or if any Event of Default or Unmatured Event of Default shall then
exist, Borrower shall be deemed to have elected to convert such Eurodollar Loans
into Base Rate Loans effective as of the expiration date of such current
Interest Period.

     2.7 Disbursements and Payments.
         --------------------------

     (a) Each Base Rate Loan and Eurodollar Loan shall be made on a pro rata
basis by Banks based on their respective Commitments, and each Bank's portion of
each Loan shall be determined by application of its Normal Percentage. Each
Bank's interest in each Loan and each payment to such Bank under this Agreement
shall be for the account of such Bank's Lending Office.

     (b) Each Loan and each payment of principal, interest and other sums under
this Agreement shall be made in immediately available funds (or such other funds
as Administrative Agent may require) at Bank of America's Agency Administrative
Services-West, 1850 Gateway Blvd., Concord, California 94520, ABA #111000012,
Acct No. 3750836479, Ref: Hughes Electronics Corporation or such other office
designated by Administrative Agent from time to time.

     (c) Each Bank agrees it will make the funds which it is to advance
hereunder available to Bank of America's Agency Administrative Services-West,
1850 Gateway Blvd., Concord, California 94520, ABA #111000012, Acct No.
3750836479, Ref: Hughes Electronics Corporation or such other office designated
by Administrative Agent from time to time not later than 11:00 A.M. California
time on the Borrowing Date, and Administrative Agent will thereupon promptly
advance to Borrower the amount so received from Banks.

     (d) Payment of all sums under this Agreement shall be made by Borrower to
Administrative Agent, and the latter shall promptly distribute to each Bank its
share of such payments. Each payment by Borrower shall be made without setoff or
counterclaim and not later than 11:00 a.m. California time on the day such
payment is due. All sums received after such time shall be deemed received on
the next Business Day.

                                       25

<PAGE>

     (e) If Administrative Agent makes available to Borrower an amount due from
any Bank which such Bank fails to make available to Administrative Agent, or if
Administrative Agent makes available to any Bank an amount due from Borrower
which Borrower fails to make available to Administrative Agent, Borrower or such
Bank, as the case may be, shall, on demand, refund such amount to Administrative
Agent, together with interest thereon for the period during which such amount
was available to Borrower or such Bank, as the case may be, at the Federal Funds
Rate.

     (f) Any sum of principal or interest payable by Borrower hereunder if not
paid when due shall bear interest (payable on demand) from its due date until
payment in full (computed daily on the basis of a 365 or 366, as the case may
be, day year and actual days elapsed) at a rate per annum equal to the Base Rate
plus the margin applicable for Base Rate Loans under Section 2.3(a)(i) plus two
percentage points.

     2.8 Fees.
         ----

     (a) Facility Fee. In consideration of the Revolving Commitments, the
         ------------
Borrower shall pay to the Administrative Agent for the ratable benefit of the
Banks with Revolving Commitments a facility fee (the "Facility Fee") for the
                                                      ------------
period from the Amendment Date to the Termination Date on the Total Revolving
Commitments at a per annum rate (computed on the basis of a 360-day year and
actual days elapsed) equal to (i) fifty basis points (0.50%) with respect to
each day on which the aggregate amount of Revolving Obligations is less than or
equal to fifty percent (50%) of the Total Revolving Commitments, and (ii)
thirty-seven and one-half basis points (0.375%) with respect to each day on
which the aggregate amount of Revolving Obligations is greater than fifty
percent (50%) of the Total Revolving Commitments. The Facility Fee shall be
payable quarterly in arrears on the 10th day of each January, April, July and
October (for the Facility Fee payable during the previous calendar quarter) and
on the Termination Date.

     (b) Letter of Credit Issuance Fee.
         -----------------------------

          (i) Letter of Credit Issuance Fee. In consideration of the issuance of
              -----------------------------
     Letters of Credit, the Borrower promises to pay to the Administrative Agent
     for the account of each Bank with Revolving Commitments a fee (the "Letter
                                                                         ------
     of Credit Fee") based on such Bank's ratable share of the average daily
     -------------
     maximum amount available to be drawn under each such Letter of Credit
     computed at a per annum rate (computed on the basis of a 360-day year and
     actual days elapsed) for each day from the date of issuance to the date of
     expiration equal to (i) two hundred fifty basis points (2.50%) with respect
     to each day on which the aggregate amount of Revolving Obligations is less
     than or equal to fifty percent (50%) of the Total Revolving Commitments,
     and (ii) two hundred sixty-two and one-half basis points (2.625%) with
     respect to each day on which the aggregate amount of Revolving Obligations
     is greater than fifty percent (50%) of the Total Revolving Commitments. The
     Letter of Credit Fee shall be payable quarterly in arrears on the 10th day
     of each January, April, July and October (for the Letter of Credit Fee
     payable during the previous calendar quarter) and on the Termination Date.

                                       26

<PAGE>

          (ii) Issuing Bank Fees. In addition to the Letter of Credit Fee, the
               -----------------
     Borrower promises to pay to the Administrative Agent for the account of the
     Issuing Bank without sharing by the other Banks (i) a letter of credit
     fronting fee (the "Issuing Bank Fee") on the average daily maximum amount
                        ----------------
     available to be drawn under each Letter of Credit computed at a per annum
     rate (computed on the basis of a 360-day year and actual days elapsed) for
     each day from the date of issuance to the date of expiration equal to
     one-eighth of one percent (0.125%) and (ii) the customary charges from time
     to time of the Issuing Bank with respect to the issuance, amendment,
     transfer, administration, cancellation and conversion of, and drawings
     under, such Letters of Credit. The Issuing Bank Fee hereunder shall be
     payable quarterly in arrears on the 1st day of each January, April, July
     and October (for the Issuing Bank Fee payable during the previous calendar
     quarter) and on the Termination Date.

     (c) Administrative Fees. The Borrower agrees to pay to the Administrative
         -------------------
Agent, for its own account, an administrative agency fee as may be mutually
agreed.

     2.9 Additional Provisions relating to Letters of Credit.
         ---------------------------------------------------

     (a) Reports. The Issuing Bank will provide to the Administrative Agent upon
         -------
request, a detailed summary report on its Letters of Credit and the activity
thereon, in form and substance acceptable to the Administrative Agent. In
addition, the Issuing Bank will provide to the Administrative Agent for
dissemination to the Banks with Revolving Commitments at least quarterly, and
more frequently upon request, a detailed summary report on its Letters of Credit
and the activity thereon, including, among other things, the Credit Party for
whose account the Letter of Credit is issued, the beneficiary, the face amount,
and the expiry date. The Issuing Bank will provide copies of the Letters of
Credit to the Administrative Agent and the Banks with Revolving Commitments
promptly upon request.

     (b) Participation. Each Bank with a Revolving Commitment, with respect to
         -------------
the Existing Letters of Credit, hereby purchases a participation interest in
Existing Letters of Credit, and with respect to Letters of Credit issued on or
after the Closing Date, upon issuance of a Letter of Credit, shall be deemed to
have purchased without recourse a risk participation from the Issuing Bank in
such Letter of Credit and the obligations arising thereunder, in each case in an
amount equal to its pro rata share of the obligations under such Letter of
Credit (based on the pro rata share of the Banks with Revolving Commitments) and
shall absolutely, unconditionally and irrevocably assume, as primary obligor and
not as surety, and be obligated to pay to the Issuing Bank therefor and
discharge when due, its pro rata share of the obligations arising under such
Letter of Credit. Without limiting the scope and nature of each Bank with a
Revolving Commitment's participation in any Letter of Credit, to the extent that
the Issuing Bank has not been reimbursed as required hereunder or under any such
Letter of Credit, each Bank with a Revolving Commitment shall pay to the Issuing
Bank its pro rata share of such unreimbursed drawing in same day funds on the
day of notification by the Issuing Bank of an unreimbursed drawing pursuant to
the provisions of subsection (d) hereof. The obligation of each Bank with a
Revolving Commitment to so reimburse the Issuing Bank shall be absolute and
unconditional and shall not be affected by the occurrence of an Unmatured Event
of Default, an Event of

                                       27

<PAGE>

Default or any other occurrence or event. Any such reimbursement shall not
relieve or otherwise impair the obligation of the Borrower to reimburse the
Issuing Bank under any Letter of Credit, together with interest as hereinafter
provided.

     (c) Reimbursement. In the event of any drawing under any Letter of Credit,
         -------------
the Issuing Bank will promptly notify the Borrower and the Administrative Agent.
Unless the Borrower shall immediately notify the Issuing Bank that the Borrower
intends to otherwise reimburse the Issuing Bank for such drawing, the Borrower
shall be deemed to have requested that the Banks with Revolving Commitments make
a Revolving Loan in the amount of the drawing as provided in subsection (d)
hereof on the related Letter of Credit, the proceeds of which will be used to
satisfy the related reimbursement obligations. The Borrower promises to
reimburse the Issuing Bank on the day of drawing under any Letter of Credit
(either with the proceeds of a Revolving Loan obtained hereunder or otherwise)
in same day funds. If the Borrower shall fail to reimburse the Issuing Bank as
provided hereinabove, the unreimbursed amount of such drawing shall bear
interest at a per annum rate equal to the Base Rate plus the margin applicable
for Base Rate Loans under Section 2.3(a)(i) plus two percent (2%). The
Borrower's reimbursement obligations hereunder shall be absolute and
unconditional under all circumstances irrespective of any rights of setoff,
counterclaim or defense to payment the Borrower may claim or have against the
Issuing Bank, the Administrative Agent, the Banks with Revolving Commitments,
the beneficiary of the Letter of Credit drawn upon or any other Person,
including without limitation any defense based on any failure of the Borrower or
any other Credit Party to receive consideration or the legality, validity,
regularity or unenforceability of the Letter of Credit. The Administrative Agent
will promptly notify the other Banks with Revolving Commitments of the amount of
any unreimbursed drawing and each Bank with a Revolving Commitment shall
promptly pay to the Administrative Agent for the account of the Issuing Bank in
U.S. dollars and in immediately available funds, the amount of such Bank's
Revolving Commitment Percentage of such unreimbursed drawing. Such payment shall
be made on the day such notice is received by such Bank from the Issuing Bank if
such notice is received at or before 11:00 A.M. (California time) otherwise such
payment shall be made at or before 11:00 A.M. (California time) on the Business
Day next succeeding the day such notice is received. If such Bank does not pay
such amount to the Issuing Bank in full upon such request, such Bank shall, on
demand, pay to the Administrative Agent for the account of the Issuing Bank
interest on the unpaid amount during the period from the date of such drawing
until such Bank pays such amount to the Issuing Bank in full at a rate per annum
equal to, if paid within two (2) Business Days of the date that such Bank is
required to make payments of such amount pursuant to the preceding sentence, the
Federal Funds Rate and thereafter at a rate equal to the Base Rate. The
obligation of each Bank with a Revolving Commitment to make such payment to the
Issuing Bank, and the right of the Issuing Bank to receive the same, shall be
absolute and unconditional, shall not be affected by any circumstance whatsoever
and without regard to the termination of this Agreement or the Commitments
hereunder, the existence of an Event of Default or Unmatured Event of Default or
the acceleration of the obligations of the Borrower hereunder and shall be made
without any offset, abatement, withholding or reduction whatsoever.
Simultaneously with the making of each such payment by a Bank with a Revolving
Commitment to the Issuing Bank, such Bank shall, automatically and without any
further action on the part of the Issuing Bank or such Bank, acquire a
participation in an amount equal to such payment (excluding the portion of such
payment constituting interest owing to the Issuing Bank) in the

                                       28

<PAGE>

related unreimbursed drawing portion of the LOC Obligation and in the interest
thereon and in the related LOC Documents, and shall have a claim against the
Borrower with respect thereto.

     (d) Repayment with Revolving Loans. On any day on which the Borrower shall
         ------------------------------
have requested, or been deemed to have requested, a Revolving Loan advance to
reimburse a drawing under a Letter of Credit, the Administrative Agent shall
promptly give notice to the Banks with Revolving Commitments that a Revolving
Loan has been requested or deemed requested by the Borrower to be made in
connection with a drawing under a Letter of Credit, in which case a Revolving
Loan advance comprised of Base Rate Loans (or Eurodollar Loans to the extent the
Borrower has complied with the procedures of Section 2.2(a)(i) with respect
thereto) shall be promptly made to the Borrower by all Banks with Revolving
Commitments (notwithstanding any termination of the Commitments pursuant to
Section 9.1) pro rata based on their respective Revolving Commitments
             --- ----
(determined before giving effect to any termination of the Commitments pursuant
to Section 9.1) and the proceeds thereof shall be paid to the Issuing Bank for
application to the respective LOC Obligations. Each such Bank with a Revolving
Commitment hereby irrevocably agrees to make its pro rata share of each such
Revolving Loan promptly upon any such request or deemed request in the amount,
in the manner and on the date specified in the preceding sentence
notwithstanding (i) the amount of such borrowing may not comply with the minimum
---------------
amount for advances of Revolving Loans otherwise required hereunder, (ii)
whether any conditions specified in Section 5.3 are then satisfied, (iii)
whether an Event of Default or Unmatured Event of Default then exists, (iv)
failure for any such request or deemed request for Revolving Loan to be made by
the time otherwise required hereunder, (v) whether the date of such borrowing is
a date on which Revolving Loans are otherwise permitted to be made hereunder or
(vi) any termination of the Commitments relating thereto immediately prior to or
contemporaneously with such borrowing. In the event that any Revolving Loan
cannot for any reason be made on the date otherwise required above (including,
without limitation, as a result of the commencement of a proceeding under the
Bankruptcy Code with respect to the Borrower or any Credit Party), then each
such Bank with a Revolving Commitment hereby agrees that it shall forthwith
purchase (as of the date such borrowing would otherwise have occurred, but
adjusted for any payments received from the Borrower on or after such date and
prior to such purchase) from the Issuing Bank such participation in the
outstanding LOC Obligations as shall be necessary to cause each such Bank with a
Revolving Commitment to share in such LOC Obligations ratably (based upon the
respective Revolving Commitments (determined before giving effect to any
termination of the Commitments pursuant to Section 9.1)), provided that in the
                                                          --------
event such payment is not made on the day of drawing, such Bank shall pay in
addition to the Issuing Bank interest on the amount of its unfunded
Participation Interest at a rate equal to, if paid within two (2) Business Days
of the date of drawing, the Federal Funds Rate, and thereafter at the Base Rate.

     (e) Designation of other Credit Parties as Account Parties. Notwithstanding
         ------------------------------------------------------
anything to the contrary set forth in this Agreement, including without
limitation Section 2.1(b) and 2.2(a)(ii) hereof, a Letter of Credit issued
hereunder may contain a statement to the effect that such Letter of Credit is
issued for the account of a Credit Party other than the Borrower, provided that
notwithstanding such statement, the Borrower shall be the actual account party
for all purposes of this Agreement for such Letter of Credit and such statement
shall not affect the Borrower's reimbursement obligations hereunder with respect
to such Letter of Credit.

                                       29

<PAGE>

     (f) Renewal, Extension. The renewal or extension of any Letter of Credit
         ------------------
shall, for purposes hereof, be treated in all respects the same as the issuance
of a new Letter of Credit hereunder.

     (g) Uniform Customs and Practices. The Issuing Bank may have the Letters of
         -----------------------------
Credit be subject to The Uniform Customs and Practice for Documentary Credits
(the "UCP") or the International Standby Practices 1998 (the "ISP98"), in either
      ---                                                     -----
case as published as of the date of issue by the International Chamber of
Commerce, in which case the UCP or the ISP98, as applicable, may be incorporated
therein and deemed in all respects to be a part thereof.

     (h) Indemnification; Nature of Issuing Bank's Duties.
         ------------------------------------------------

          (i) In addition to its other obligations under this Section 2.9, the
     Borrower hereby agrees to protect, indemnify, pay and save the Issuing Bank
     and the Banks with Revolving Commitments harmless from and against any and
     all claims, demands, liabilities, damages, losses, costs, charges and
     expenses (including reasonable attorneys' fees) that the Issuing Bank or
     any Bank with a Revolving Commitment may incur or be subject to as a
     consequence, direct or indirect, of (A) the issuance of any Letter of
     Credit or (B) the failure of the Issuing Bank to honor a drawing under a
     Letter of Credit as a result of any act or omission, whether rightful or
     wrongful, of any present or future de jure or de facto government or
     governmental authority (all such acts or omissions, herein called
     "Government Acts").
      ---------------

          (ii) As between the Borrower and the Issuing Bank, the Borrower shall
     assume all risks of the acts, omissions or misuse of any Letter of Credit
     by the beneficiary thereof. The Issuing Bank shall not be responsible: (A)
     for the form, validity, sufficiency, accuracy, genuineness or legal effect
     of any document submitted by any party in connection with the application
     for and issuance of any Letter of Credit, even if it should in fact prove
     to be in any or all respects invalid, insufficient, inaccurate, fraudulent
     or forged; (B) for the validity or sufficiency of any instrument
     transferring or assigning or purporting to transfer or assign any Letter of
     Credit or the rights or benefits thereunder or proceeds thereof, in whole
     or in part, that may prove to be invalid or ineffective for any reason; (C)
     for errors, omissions, interruptions or delays in transmission or delivery
     of any messages, by mail, cable, telegraph, telex or otherwise, whether or
     not they be in cipher; (D) for any loss or delay in the transmission or
     otherwise of any document required in order to make a drawing under a
     Letter of Credit or of the proceeds thereof; and (E) for any consequences
     arising from causes beyond the control of the Issuing Bank, including,
     without limitation, any Government Acts. None of the above shall affect,
     impair, or prevent the vesting of the Issuing Bank's rights or powers
     hereunder.

          (iii) In furtherance and extension and not in limitation of the
     specific provisions hereinabove set forth, any action taken or omitted by
     the Issuing Bank, under or in connection with any Letter of Credit or the
     related certificates, if taken or omitted in good faith, shall not put such
     Issuing Bank under any resulting liability to the Borrower

                                       30

<PAGE>

     or any other Credit Party. It is the intention of the parties that this
     Agreement shall be construed and applied to protect and indemnify the
     Issuing Bank against any and all risks involved in the issuance of the
     Letters of Credit, all of which risks are hereby assumed by the Borrower
     (on behalf of itself and each of the other Credit Parties), including,
     without limitation, any and all Government Acts. The Issuing Bank shall
     not, in any way, be liable for any failure by the Issuing Bank or anyone
     else to pay any drawing under any Letter of Credit as a result of any
     Government Acts or any other cause beyond the control of the Issuing Bank.

          (iv) Nothing in this subsection (h) is intended to limit the
     reimbursement obligations of the Borrower contained in subsection (d)
     above. The obligations of the Borrower under this subsection (h) shall
     survive the termination of this Agreement. No act or omissions of any
     current or prior beneficiary of a Letter of Credit shall in any way affect
     or impair the rights of the Issuing Bank to enforce any right, power or
     benefit under this Agreement.

          (v) Notwithstanding anything to the contrary contained in this
     subsection (h), the Borrower shall have no obligation to indemnify the
     Issuing Bank in respect of any liability incurred by the Issuing Bank (A)
     arising solely out of the gross negligence or willful misconduct of the
     Issuing Bank, as determined by a court of competent jurisdiction, or (B)
     caused by the Issuing Bank's failure to pay under any Letter of Credit
     after presentation to it of a request strictly complying with the terms and
     conditions of such Letter of Credit, as determined by a court of competent
     jurisdiction, unless such payment is prohibited by any law, regulation,
     court order or decree.

     (i) Responsibility of Issuing Bank. It is expressly understood and agreed
         ------------------------------
that the obligations of the Issuing Bank hereunder to the Lenders are only those
expressly set forth in this Agreement and that the Issuing Bank shall be
entitled to assume that the conditions precedent set forth in Section 5.1 have
been satisfied unless it shall have acquired actual knowledge that any such
condition precedent has not been satisfied; provided, however, that nothing set
                                            --------  -------
forth in this Section 2.9 shall be deemed to prejudice the right of any Lender
to recover from the Issuing Bank any amounts made available by such Lender to
the Issuing Bank pursuant to this Section 2.9 in the event that it is determined
by a court of competent jurisdiction that the payment with respect to a Letter
of Credit constituted gross negligence or willful misconduct on the part of the
Issuing Bank.

     (j) Conflict with LOC Documents. In the event of any conflict between this
         ---------------------------
Agreement and any LOC Document (including any letter of credit application),
this Agreement shall control.

                                    SECTION 3
                         PAYMENT OF COSTS AND REDUCTION
                                OF THE COMMITMENT

                                       31

<PAGE>

     3.1 Indemnification Upon Failure to Pay Eurodollar Loan. If Borrower makes
         ---------------------------------------------------
any payment of principal with respect to any Eurodollar Loan on a day other than
the last day of the then current Interest Period applicable to such Loan
(including without limitation any payment upon reduction of the Commitments) or
fails to borrow, continue, convert, pay or prepay its Eurodollar Loan on a date
designated to Administrative Agent in a notice pursuant to this Agreement (if
such failure does not result from the application of Sections 4.1 or 4.2),
Borrower shall reimburse each Bank within 15 days after receipt of written
demand for any loss incurred by it as a result of the timing of such payment or
non-borrowing not reflected in the Eurodollar Rate, including without limitation
any loss incurred in liquidating or employing deposits from third parties and
loss of profit for the period after such payment or non-borrowing. A certificate
of such Bank setting forth the amounts reasonably necessary so to reimburse it
in respect of any loss shall be conclusive and binding absent manifest error.

     3.2 Increased Costs.
         ---------------

     (a) If after the date hereof, any applicable law, rule or regulation or any
change therein or in the interpretation or administration thereof by any
governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof or compliance by any Bank (or its
Lending Office) with any request or directive of any such authority, central
bank or comparable agency, whether or not having the force of law, shall impose,
modify or deem applicable:

          (i) any reserve (including, without limitation, any imposed by the
     Board of Governors of the Federal Reserve System), special deposit,
     compulsory loan or similar requirements against assets, commitments or
     deposits or other liabilities with, of or for the account of, or credit
     extended by, or any acquisition of funds by or for the account of any Bank
     or its Lending Office or the London interbank market or any other condition
     affecting its obligations to make the Loans to Borrower hereunder;

          (ii) any capital or similar requirements against (or against any class
     of or change in or the amount of) assets or liabilities of, or commitments
     or extensions of credit by, such Bank; each Bank which is so affected shall
     give prompt notice to Borrower describing such reserves or requirements at
     least four Business Days prior to the date such Bank will begin to
     implement such additional charges with respect to Borrower. If the result
     of any of the foregoing is to increase the cost or reduce the profit to
     such Bank (or its Lending Office) under this Agreement by an amount deemed
     by such Bank to be material, then, within 15 days after written demand by
     such Bank, Borrower will pay to such Bank such additional amount or amounts
     as will compensate such Bank for such increased cost incurred or reduction
     in profit suffered by such Bank. Such Bank will designate a different
     Lending Office if such designation will avoid the need for, or reduce the
     amount of, such compensation and will not be otherwise disadvantageous to
     such Bank in the sole discretion of such Bank. A certificate of such Bank
     setting forth the basis for determining such additional amount or amounts
     necessary to compensate the Bank shall be conclusive in the absence of
     manifest error.

                                       32

<PAGE>

     (b) Without limiting the effect of the foregoing (but without duplication),
upon any Bank's prior written request, Borrower shall pay to such Bank on the
last day of each Interest Period, so long as such Bank may be required to
maintain reserves against "eurocurrency liabilities" under Regulation D (as at
                           ------------------------
any time amended) of the Board of Governors of the Federal Reserve System, as
additional interest on the unpaid principal amount of each Eurodollar Loan by
such Bank outstanding during such Interest Period, an additional amount
(determined by such Bank and notified to Borrower in writing) up to but not
exceeding such amount as would, together with payments of interest on such
Eurodollar Loan for such Interest Period, result in the receipt by such Bank of
total interest on such Eurodollar Loan, for such Interest Period at a rate per
annum determined by such Bank to be equal to the sum of:

          (i) the Eurodollar Rate divided by a sum equal to (a) 1 minus (b) the
     rate (expressed as a decimal) of such reserves required by Regulation D,
     plus

          (ii) the applicable margin for such Eurodollar Loans referenced in
     Section 2.3(a)(ii).

In determining the additional amount payable for an Interest Period pursuant to
this Section, such Bank shall take into account any transitional adjustment or
phase-in provisions of such reserve requirements applicable during such Interest
Period, which would reduce the reserve requirement otherwise applicable to
eurocurrency liabilities during such Interest Period; provided, however, each
Bank in its sole discretion may determine the allocation of reserve requirements
to its Eurodollar Loans. Each such determination made by such Bank, and each
such notification by such Bank to Borrower under this Section, shall be
conclusive as to the matters set forth therein in the absence of manifest error.

     3.3 Taxes. All payments or reimbursements under this Agreement and any
         -----
instrument or agreement required hereunder shall be made without setoff or
counterclaim and free and clear of and without deduction for any and all present
and future Taxes. Borrower agrees to cause all such Taxes to be paid on behalf
of any Bank or Administrative Agent directly to the appropriate governmental
authority. If Borrower is legally prohibited from complying with this
subsection, payments due to such Bank or Administrative Agent under this
Agreement and any instrument or agreement required hereunder shall be increased
so that, after provisions for Taxes and all Taxes on such increase, the amounts
received by such Bank or Administrative Agent will be equal to the amounts
required under this Agreement and any instrument or agreement required hereunder
as if no Taxes were due on such payments. Borrower shall indemnify each Bank and
Administrative Agent for the full amount of Taxes payable by such Bank or
Administrative Agent and any liabilities (including penalties, interest and
expenses) arising from such Taxes within 30 days from any written demand by such
Bank. Borrower shall provide evidence that all applicable Taxes have been paid
to the appropriate taxing authorities by delivering to Administrative Agent
official tax receipts or notarized copies or other evidence thereof satisfactory
to Administrative Agent, within 90 days after the due date for such Tax payment.
Such Bank will designate a different Lending Office if such designation will
avoid the need for, or reduce the amount of, such payment or reimbursement and
will not be otherwise disadvantageous to such Bank in the sole discretion of
such Bank.

                                       33

<PAGE>

     3.4 Prepayments.
         -----------

     (a) Voluntary Prepayments. Upon the irrevocable written notice of Borrower
         ---------------------
received by Administrative Agent by 11:00 A.M. California time at least one
Business Day prior to the prepayment of a Base Rate Loan at least five
Eurodollar Banking Days prior to the prepayment of a Eurodollar Loan, Borrower
may prepay any Eurodollar Loan or Base Rate Loan; but such prepayment shall be
in an amount of at least $5,000,000 or multiple integrals of $1,000,000 in
excess thereof. The notice of prepayment shall specify the date of the
prepayment, the amount of the prepayment and the Loan to be prepaid. Each such
prepayment shall be made on the date specified and, in the case of a prepayment
of any Eurodollar Loan shall be accompanied by the payment of accrued interest
on the amount prepaid. Subject to compliance with the foregoing procedures, Base
Rate Loans may be prepaid at any time without cost or penalty of any kind. If
Borrower elects to prepay a Eurodollar Loan, Borrower shall, on demand by each
Bank, pay such Bank the amount (if any) by which (a) the additional interest
which would have been payable on the amount prepaid on such Bank's portion of
such Loan had it not been paid until the last day of the Interest Period of such
Loan exceeds (b) the interest which would have been recoverable by such Bank by
placing such prepaid amount on deposit in the offshore Dollar interbank markets
for a period starting on the date on which it was prepaid and ending on the last
day of the Interest Period for such Loan.

     (b) Mandatory Prepayments.
         ---------------------

          (i) Committed Amounts. If at any time (A) the aggregate principal
              -----------------
     amount of Revolving Obligations shall exceed the Total Revolving
     Commitments, or (B) the aggregate amount of LOC Obligations shall exceed
     the LOC Committed Amount, the Borrower shall immediately make payment on
     the Revolving Loans and/or to a cash collateral account in respect of the
     LOC Obligations, in an amount sufficient to eliminate the difference.

          (ii) Asset Dispositions. The Loan Obligations shall be immediately
               ------------------
     prepaid as hereafter provided in an amount equal to one hundred percent
     (100%) of the net cash proceeds received from all Asset Dispositions after
     the Amendment Date; provided, however, the net cash proceeds of Asset
                         --------
     Dispositions may be retained by the Borrower and paid hereunder on the
     earlier of (A) the occurrence of an Event of Default, or (B) the Business
     Day on which the aggregate amount of such net cash proceeds not yet applied
     to a prepayment of the Loan Obligations hereunder equals or exceeds $25
     million.

          (iii) PAS and DLA Capital Stock. The Loan Obligations shall be
                -------------------------
     immediately prepaid as hereafter provided in an amount equal to one hundred
     percent (100%) of the net cash proceeds received from the sale or
     disposition of any of the capital stock in PAS or DLA owned by the Borrower
     (or any of its Subsidiaries).

          (iv) EchoStar Break-Up Fee. The Loan Obligations shall be immediately
               ---------------------
     prepaid as hereafter provided in an amount equal to one hundred percent
     (100%) of the net cash proceeds of any break-up fees (or any similar fee or
     amount) payable pursuant to the terms of the implementation, separation,
     merger, stock purchase and related

                                       34

<PAGE>

     agreements with EchoStar Communications Corporation, as the same may be
     amended from time to time (collectively, the "EchoStar Transaction
                                                   --------------------
     Documents").
     ---------

          (v) Dividends and Distributions. The Loan Obligations shall be
              ---------------------------
     immediately prepaid as hereafter provided in an amount equal to one hundred
     percent (100%) of the net cash proceeds received by the Borrower (or any
     other Credit Party) from any dividend or distribution received on or in
     respect of the capital stock or other equity interest in any non-wholly
     owned Subsidiary of the Borrower (including PAS and DLA).

          (vi) Debt Transactions. The Loan Obligations shall be immediately
               -----------------
     prepaid as hereafter provided in an amount equal to one hundred percent
     (100%) of the net cash proceeds received by any Credit Party from any Debt
     Transaction.

          (vii) Equity Transactions. The Loan Obligations shall be immediately
                -------------------
     prepaid as hereafter provided in an amount equal to one hundred percent
     (100%) of the net cash proceeds received by any Credit Party from any
     Equity Transaction.

     (c) Application.
         -----------

          (i) Voluntary Prepayments. Voluntary prepayments on the Loan
              ---------------------
     Obligations shall be applied as specified by the Borrower. Absent such
     specification, voluntary prepayments shall be applied first to Base Rate
     Loans and then to Eurodollar Loans in direct order of Interest Period
     maturities.

          (ii) Mandatory Prepayments. Mandatory prepayments made under
               ---------------------
     subsection (b)(ii) in respect of Asset Dispositions, under subsection
     (b)(iii) in respect of a sale of any capital stock in PAS or DLA, under
     subsection (b)(iv) in respect of the EchoStar Transaction Documents, under
     subsection (b)(v) in respect of dividends and distributions in respect of
     non-wholly owned Subsidiaries, under subsection (b)(vi) in respect of Debt
     Transactions, and under subsection (b)(vii) in respect of Equity
     Transactions shall be applied (i) if the Term Loan has been made and is
     outstanding, first to the Term Loan until paid in full, and thereafter, to
     the Revolving Obligations, and (ii) if the Term Loan has not been made or
     has been paid in full, to the Revolving Obligations. Within the foregoing
     parameters for application, mandatory prepayments shall be applied first to
     Base Rate Loans and then to Eurodollar Loans in direct order of Interest
     Period maturities.

     3.5 Pro Rata Reduction of Commitments by Borrower.
         ---------------------------------------------

     (a) Voluntary Reduction of Revolving Commitments. Borrower may, upon 3 days
         --------------------------------------------
prior written notice (which notice shall be irrevocable) to Banks through
Administrative Agent, reduce the Total Revolving Commitment on a pro rata basis
among the Banks with Revolving Commitments. Such a reduction shall be in an
integral multiple of $5,000,000. Borrower shall, on the effective date of each
such reduction, repay to each Bank with Revolving Commitments through
Administrative Agent that portion of each Revolving Loan which exceeds the
amount of each Bank's Revolving Commitment as reduced, together with accrued
interest on the amount

                                       35

<PAGE>

paid and accrued facility fees subject to such reduction. After the effective
date of each reduction, the Bank's obligations under this Agreement shall be
based on the reduced Revolving Commitments.

     (b) Mandatory Reduction of Revolving Commitments. The Total Revolving
         --------------------------------------------
Commitments shall be permanently reduced from time to time in an amount equal to
the amount of any prepayment on the Revolving Obligations required by Sections
3.4(b)(ii), (iii), (iv), (v), (vi) and (vii).

     3.6 Non-Ratable Increases and Reductions of Commitments by Borrower.
         ---------------------------------------------------------------

     (a) Increase in Revolving Commitments. Subject to the terms and conditions
         ---------------------------------
set forth herein, the Borrower may at any time upon notice to the Administrative
Agent increase the Total Revolving Commitments up to TWO BILLION DOLLARS
($2,000,000,000); provided that:

          (i) any such increase shall be in a minimum aggregate principal amount
     of $5 million and integral multiples of $1 million in excess thereof (or
     the remaining amount, if less),

          (ii) if any Revolving Loans are outstanding at the time of any such
     increase, the Borrower shall make such payments and adjustments on the
     Revolving Loans (including payment of any break-funding amounts owing under
     Section 3.1) as necessary to give effect to the revised commitment
     percentages and commitment amounts,

          (iii) the conditions to the making of a Revolving Loan set forth in
     Section 5.3 shall be satisfied (provided that, for purposes of establishing
                                     --------
     the increase in Revolving Commitments hereunder, subsection 5.3(d) shall
     not apply),

          (iv) the Borrower shall obtain commitments for the amount of the
     increase from existing Banks or other commercial banks or financial
     institutions reasonably acceptable to the Administrative Agent, provided
     that such other commercial banks and financial institutions join in this
     Agreement as Banks by joinder agreement in substantially the form attached
     hereto as Exhibit H (the "Bank Joinder Agreement")or other arrangement
                               ----------------------
     reasonably acceptable to the Administrative Agent. In connection with any
     such increase in the Revolving Commitments, Schedule 1 shall be revised to
                                                 ----------
     reflect the modified commitments and commitment percentages of the Banks,
     and the Borrower will provide supporting corporate resolutions, legal
     opinions, promissory notes and other items as may be reasonably requested
     by the Administrative Agent and the Banks in connection therewith; and

          (v) after giving effect to any such increase in Revolving Commitments,
     the aggregate amount of Total Commitments (including the Term Loan
     Commitments, if any) shall not exceed Two Billion Dollars ($2,000,000,000).

                                       36

<PAGE>

     (b) Establishment of a Term Loan Facility. Subject to the terms and
         -------------------------------------
conditions set forth herein, the Borrower may at any time upon notice to the
Administrative Agent establish a Term Loan Facility hereunder; provided that:

          (i) any such Term Loan shall be in a minimum aggregate principal
     amount of $5 million and integral multiples of $1 million in excess thereof
     (or the remaining amount, if less),

          (ii) the conditions to the making of a Loan set forth in Section 5.3
     shall be satisfied,

          (iii) the Borrower shall obtain commitments for the amount of the Term
     Loan Facility from existing Banks or other commercial banks or financial
     institutions reasonably acceptable to the Administrative Agent, provided
     that such other commercial banks and financial institutions join in this
     Agreement as Banks by joinder agreement or other arrangement reasonably
     acceptable to the Administrative Agent. In connection with any such Term
     Loan, Schedule 1 shall be revised to reflect the commitments and commitment
           ----------
     percentages of the Banks, and the Borrower will provide supporting
     corporate resolutions, legal opinions, promissory notes and other items as
     may be reasonably requested by the Administrative Agent and the Banks in
     connection therewith; and

          (iv) after giving effect to any such Term Loan Facility, the aggregate
     amount of Total Commitments (including the Term Loan Commitments, if any)
     shall not exceed Two Billion Dollars ($2,000,000,000).

     (c) Reduction of One Bank's Commitment by Borrower. If the amount of any
         ----------------------------------------------
payment to be made to or for the account of any Bank is increased under Section
3.3 or any Bank makes a claim under Section 3.2, then:

          (i) Borrower may within 60 days after the notice thereof and by not
     less than five Business Days' written notice to Administrative Agent,
     cancel such Bank's Commitment, whereupon such Bank shall cease to be
     obligated to participate in further Loans hereunder and its Commitment
     shall be reduced to the amount of its outstanding Loans until such Loans
     are repaid by Borrower either on the Principal Repayment Date for such
     Loans or pursuant to Section 3.6(b), at which time such Bank's Commitment
     shall be reduced to zero;

          (ii) if Borrower cancels such Bank's Commitment pursuant to clause (i)
     above and if Borrower so elects by written notice to Administrative Agent
     given at the same time as the notice referred to in clause (i) above,
     Borrower shall prepay such Bank's portion of each outstanding Loan together
     with any accrued interest thereon plus all costs and expenses (including
     break and funding costs in connection with the relending, reborrowing,
     funding or other employing of funds) incurred by such Bank as a result of
     such cancellation or prepayment on a date other than the Principal
     Repayment Date for such Loan; and

                                       37

<PAGE>

     3.7 Notice of Reductions. Each notice of reduction or prepayment given
         --------------------
pursuant to Section 3.4, 3.5 or 3.6 shall be irrevocable, shall specify the date
upon which such reduction or prepayment is to be made and, in the case of a
notice of prepayment, shall obligate Borrower to make such prepayment on such
date. Borrower may not give a notice of reduction of a part of the Commitments
pursuant to Section 3.6 at any time prior to the date so specified in any
previous such notice.

     3.8 Designation of Replacement Bank. If the Commitment of any Bank is
         -------------------------------
cancelled by Borrower pursuant to Section 3.6 or if any Bank terminates its
Commitment with respect to Eurodollar Loans pursuant to Section 4.2, Borrower,
with the consent of Administrative Agent, may designate an Eligible Assignee
(or, if it deems appropriate, more than one Eligible Assignee) acceptable to
Administrative Agent to act as a Bank hereunder and upon execution of a written
agreement in form satisfactory to Administrative Agent by such Eligible Assignee
in which it agrees to abide by all of the terms, conditions and obligations
applicable to a Bank herein and to have a Commitment as specified in such
agreement, such Eligible Assignee shall be deemed a Bank hereunder to the same
extent as if it were a signatory hereto and, thereafter, such Eligible Assignee
shall for all purposes be considered a "Bank" hereunder.
                                        ----

     3.9 Effect of Reduction of Commitment. If, at any time:
         ---------------------------------

     (a) the Commitment of any Bank is reduced to zero in accordance with the
terms of this Agreement;

     (b) all indebtedness and other amounts owed to such Bank by Borrower
hereunder or in connection herewith have been satisfied in full; and

     (c) such Bank is under no further actual or contingent obligation
hereunder,

then such Bank shall cease to be a party hereto and a Bank for the purposes
hereof; provided, however, that the obligations of Borrower and such Bank under
        --------  -------
Sections 3.1, 3.2, 3.3, 11.14, 11.15 and 11.16 shall survive the cancellation of
the Commitment and the termination of this Agreement.

     3.10 Accrued Fees. On the date of the cancellation of any portion of the
          ------------
Total Commitment in accordance with Section 3.5 or of any Bank's Commitment
under Section 3.6, all accrued facility fees and letter of credit fees for such
portion of the Total Commitment or of such Bank's Commitment shall be paid in
full by Borrower.

     3.11 Survival. The agreements and obligations of Borrower in this Section 3
          --------
shall survive the termination of this Agreement.

                                       38

<PAGE>

                                    SECTION 4
                     CHANGE IN CIRCUMSTANCES AFFECTING LOANS

     4.1 Inability to Determine Eurodollar Rate. If any Reference Bank
         --------------------------------------
determines (which determination shall be made in good faith and shall be
conclusive and binding upon Borrower) that (a) by reason of circumstances then
affecting the Eurodollar interbank market, adequate and reasonable means do not
or will not exist for ascertaining the interest rate applicable to any
Eurodollar Loans, or (b) Dollar deposits in the relevant amounts and for the
relevant Interest Period are not available to the Banks in the Eurodollar
interbank market, then it shall notify the Administrative Agent who shall
forthwith give written notice of such determination to Borrower and each Bank at
least one Business Day prior to the first day of any Interest Period so
affected; whereupon, until Administrative Agent shall notify Borrower that the
circumstances giving rise to such suspension no longer exist, (i) the
obligations of the Banks to make Eurodollar Loans shall be suspended and (ii)
Borrower shall repay in full, without premium or penalty, the then outstanding
principal amount of the Eurodollar Loans, together with accrued interest
thereon, on the last day of the then current Interest Period pursuant to the
next sentence. Unless Borrower notifies Administrative Agent to the contrary
within one Business Day after receiving a notice from Administrative Agent
pursuant to this Section, Borrower shall, concurrently with prepaying the
Eurodollar Loans pursuant to this Section, be deemed automatically without any
further notice to Administrative Agent or the Banks to have requested and
received Base Rate Loans in an equal principal amount from the Banks, the
proceeds of which are deemed to have been used to repay the other Loans.

     4.2 Illegality. If, after the Effective Date, the introduction of or any
         ----------
change in any applicable law, rule or regulation or in the interpretation or
administration thereof by any governmental authority charged with the
interpretation or administration thereof or compliance by any Bank with any
request or directive (whether or not having the force of law) of any such
authority shall make it unlawful or impossible for such Bank (or its Lending
Office) to make, maintain or fund its Eurodollar Loans, such Bank shall
forthwith give written notice thereof to Administrative Agent and to Borrower.
Before giving any notice pursuant to this Section, such Bank shall designate a
different Lending Office if such designation will avoid the need for giving such
notice and will not be otherwise disadvantageous to such Bank in the sole
judgment of such Bank. Upon receipt of such notice (a) if such Bank has received
a request with respect to Eurodollar Loans and has not yet made such Loan, a
Base Rate Loan shall be deemed to have been designated without any further
notice; (b) all Loans which would otherwise be made by such Bank as Eurodollar
Loans shall be made instead as Base Rate Loans; and (c) Borrower shall prepay in
full, without premium or penalty, the then outstanding principal amount of such
Bank's Eurodollar Loans, together with accrued interest, on either (i) the last
day of the then-current Interest Period if such Bank may lawfully continue to
fund and maintain such Eurodollar Loans, to such day or (ii) immediately if such
Bank may not lawfully continue to fund and maintain such Eurodollar Loans to
such day together with an amount, if any, calculated as set forth in the last
sentence of Section 3.4(a). Concurrently with prepaying each such Eurodollar
Loan Borrower shall borrow a Base Rate Loan from such Bank in an amount equal to
the principal amount of such Bank's Eurodollar Loans, the proceeds of which are
deemed to have been used to repay such Bank's Eurodollar Loans. If circumstances
subsequently change so that such Bank is not further affected, and no Eligible
Assignee has been appointed pursuant to Section 3.8,such

                                       39

<PAGE>

Bank shall so notify Borrower and Administrative Agent and such Bank's
obligation to make and continue Eurodollar Loans shall be reinstated upon
written request of Borrower.

                                    SECTION 5
                              CONDITIONS PRECEDENT

     5.1 [Intentionally Omitted.]

     5.2 [Intentionally Omitted.]

     5.3 Conditions Precedent to Loans. The obligation of Banks to disburse each
         -----------------------------
Loan (including the first Loan) is subject to the following conditions and by
communicating a Loan Request Borrower is deemed to certify that: (a) to the best
knowledge of the Authorized Designee making such Loan Request, the
representations and warranties contained in this Agreement and any other
documents delivered pursuant hereto are true and correct in all material
respects on the date of such Loan Request; (b) the financial statements
delivered to Administrative Agent by Borrower pursuant to Section 7.5 on the
date most nearly preceding the Loan Request present fairly the financial
position and results of operation and changes in financial position of Borrower
and its consolidated Subsidiaries as at the end of, and for the fiscal period to
which such statements relate, (subject, in the case of unaudited financial
statements to year end adjustments); (c) to the best knowledge of the Authorized
Designee making such Loan Request, no Event of Default or Unmatured Event of
Default has occurred and is continuing except such Events of Default or
Unmatured Events of Default as have been expressly waived by or on behalf of the
Banks; and (d) in the case of Revolving Loans, at least $2.0 billion in
principal amount shall be borrowed and outstanding under the GMAC Credit
Agreement at such time.

                                    SECTION 6
                         REPRESENTATIONS AND WARRANTIES

     6. Borrower represents and warrants that as of the Amendment Date:

     6.1 Authority. Each Credit Party (a) is a corporation duly organized and
         ---------
existing under the laws of its jurisdiction of organization, with, in the case
of the Borrower, its executive offices in El Segundo, California, (b) has the
corporate power and authority to own and operate its property, lease the
property it operates as lessee and carry on its business as now being conducted,
(c) is duly qualified and authorized to do business, and is in good standing in
every state, country or other jurisdiction where the failure to be so qualified,
authorized and in good standing would have a Material Adverse Effect, (d) has
full power and authority to borrow or guarantee, as appropriate, the sums
provided for in this Agreement, to execute, deliver and perform this Agreement
and any instrument or agreement required hereunder, and to perform and observe
the terms and provisions hereof and thereof, (e) has taken all corporate action
necessary for the authorization, execution, delivery and performance of this
Agreement and any instrument or agreement required hereunder, (f) requires no
consent or approval of any trustee or holder of

                                       40

<PAGE>

any indebtedness or obligation and requires no consent, permission,
authorization, order or license of any Governmental Authority in connection with
the execution, delivery and performance of this Agreement and any instrument or
agreement required hereunder, or any transaction contemplated hereby or thereby,
except as may have been obtained and certified copies of which have been
delivered to Banks through Administrative Agent, and (g) is in compliance with
all material Requirements of Law, except to the extent the failure to comply
therewith would not have a Material Adverse Effect.

     6.2 Binding Obligations. This Agreement is the legal, valid and binding
         -------------------
obligation of Borrower, enforceable against it in accordance with its terms, and
each Loan Document is the legal, valid and binding obligation of the Borrower
and each other Credit Party thereto, enforceable against such Credit Party in
accordance with its terms, in each case except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors' rights generally and by
equitable principles (whether enforcement is sought by proceedings in equity or
at law).

     6.3 No Contravention. There is no charter, by-law, or capital stock
         ----------------
provision of Borrower or any other Credit Party and no provision of any
indenture or material agreement, written or oral, to which Borrower or any other
Credit Party is a party or under which Borrower or any other Credit Party is
obligated, nor is there any statute, rule or regulation, or any judgment, decree
or order of any court or agency binding on Borrower or any other Credit Party
which would be contravened by the execution, delivery and performance of this
Agreement or any instrument or agreement required hereunder, or by the
performance of any provision, condition, covenant or other term hereof or
thereof, nor would such execution, delivery and performance result in, or
require, the creation or imposition of any Lien on any of the properties or
revenues of the Borrower or any other Credit Party, except as contemplated by
the Loan Documents.

     6.4 Notices. Except as previously disclosed in writing to Administrative
         -------
Agent, no event has occurred which, to the best of its knowledge, would require
Borrower and each other Credit Party to notify Administrative Agent and the
Banks pursuant to Section 7.3 hereof.

     6.5 Financial Statements. Each of the financial statements described below
         --------------------
(copies of which have been provided to Administrative Agent for distribution to
Banks) are complete and correct in all material respects and present fairly the
financial condition (including disclosure of all material liabilities,
contingent or otherwise) and results of operations of the entities and for the
periods specified, subject in the case of interim company-prepared statements to
normal year-end adjustments and the absence of footnotes:

          (a) the annual financial statements of Borrower and its consolidated
     subsidiaries, which statements include at least the consolidated balance
     sheet as of the close of December 31, 2000, and the consolidated statement
     of operations and statement of cash flow for such fiscal year, audited by
     Deloitte & Touche (or such other independent certified public accountants
     of recognized international standing selected by Borrower) and prepared in
     accordance with GAAP applied on a consistent basis, and which statements
     include the opinion of such accountants, such opinion not qualified or

                                       41

<PAGE>

     limited because of any restricted or limited nature of examination made by
     such accountants or because of a "going concern" qualification;
                                       -------------

          (b) the unaudited consolidated balance sheet of Borrower and its
     consolidated subsidiaries dated as of December 31, 2001, and the unaudited
     consolidated statement of operations and statement of cash flow for such
     quarter and for the fiscal year ending with such quarter, all prepared in
     accordance with GAAP applied on a consistent basis; and

          (c) after the Amendment Date, the annual and quarterly financial
     statements provided in accordance with Sections 7.5(a) and (b).

     6.6 ERISA. Based upon ERISA and the regulations and published
         -----
interpretations thereunder, the Plans of Borrower and each member of the
Consolidated Group and, to the knowledge of Borrower, the Plans of any other
ERISA Affiliates, are in material and substantial compliance in all material
respects with the applicable provisions of ERISA and Borrower and each member of
the Consolidated Group are in compliance with such Plans in all material
respects. No Reportable Event which has or could be reasonably be expected to
result in termination thereof by the Pension Benefit Guaranty Corporation or for
the appointment by the appropriate United States District Court of a trustee to
administer such Plan has occurred and is continuing with respect to any Plan.

     6.7 Government Regulations. Neither Borrower nor any other Credit Party is
         ----------------------
engaged principally, or as one of its important activities, in the business of
extending credit for the purposes of purchasing or carrying any "margin stock"
                                                                 ------------
within the meaning of Regulation U of the Board of Governors of the Federal
Reserve System, and no part of the proceeds of the extensions of credit
hereunder will be used, directly or indirectly, for the purpose of purchasing or
carrying any "margin stock", or for the purpose of purchasing or carrying or
              ------------
trading in any other securities in violation of Regulation U; and neither
Borrower nor any other Credit Party is, or is controlled by, an "investment
                                                                 ----------
company" within the meaning of the Investment Company Act of 1940, as amended.
-------

     6.8 Subsidiaries. Set forth on Schedule 6.8 are all of the Subsidiaries of
         ------------               ------------
the Borrower, as well as the jurisdiction of organization and, in the case of
the Credit Parties, classes of capital stock or other equity interests
(including options, warrants, rights of subscription, conversion and
exchangeability and other similar rights), ownership and ownership percentages
thereof held by the Borrower and its Subsidiaries. The outstanding shares of
capital stock or other equity interests shown have been validly issued, fully
paid and are non-assessable and owned free of Liens other than Permitted Liens.
The outstanding shares of capital stock or other equity interests of the Credit
Parties are not the subject of any buy-sell, voting trust or other shareholder
agreement.

     6.9 Taxes. Borrower and each member of the Consolidated Group have filed,
         -----
or had filed on their behalf, all federal and state tax returns which to the
knowledge of the financial officers of Borrower and each member of the
Consolidated Group are required to have been filed, and have paid prior to
delinquency all taxes that have become due pursuant to said returns or pursuant
to any assessment, except as are being contested in good faith by appropriate

                                       42

<PAGE>

proceedings and as to which adequate reserves have been provided on the books of
Borrower and each member of the Consolidated Group in accordance with GAAP and
except to the extent that the failure to do so would not have a Material Adverse
Effect.

     6.10 Insurance. Borrower shall maintain, or cause to be maintained,
          ---------
insurance as required pursuant to Section 7.7 hereof.

     6.11 Use of Proceeds of Loans. The proceeds of the Loans hereunder will be
          ------------------------
used by Borrower (i) to refinance the DLA Credit Facility and the SurFin Credit
Facilities (which may be accomplished by a purchase of the existing bank loans
and commitments thereunder) in full and (ii) to finance working capital, capital
expenditures and other lawful corporate purposes of the Consolidated Group.

     6.12 No Material Misstatements. None of the information, reports, financial
          -------------------------
statements, exhibits or schedules, taken as a whole, furnished by or on behalf
of any Credit Party to Administrative Agent or any Bank in connection with the
negotiation of the Credit Documents or included therein or delivered pursuant
thereto contained, contains or will contain any material misstatement of fact or
omitted, omits or will omit to state any material fact necessary to make the
statements therein, in light of the circumstances under which they were, are or
will be made, not materially misleading, provided that to the extent any such
                                         --------
information, report, financial statement, exhibit or schedule was based upon or
constitutes a forecast or projection, the Borrower represents only that it acted
in good faith and utilized reasonable assumptions and due care in the
preparation of such information, report, financial statement, exhibit or
schedule.

     6.13 Liens. The properties and assets of Borrower and each other Credit
          -----
Party, real, personal and mixed, are not subject to any Liens, except for
Permitted Liens.

     6.14 Security Interests.
          ------------------

     (a) Security Agreement. The Security Agreement is effective to create in
         ------------------
favor of the Collateral Agent, for the ratable benefit of the holders of the
Secured Obligations identified therein, a legal, valid and enforceable security
interest in the collateral identified therein owned by the Credit Parties and,
when financing statements in appropriate form are filed in the appropriate
offices for the locations specified in the schedules to the Security Agreement,
the Security Agreement shall constitute a fully perfected Lien on, and security
interest in, all right, title and interest of the grantors thereunder in such
collateral that may be perfected by filing, recording or registering a financing
statement under the Uniform Commercial Code as in effect, in each case prior and
superior in right to any other Lien on any collateral other than Permitted
Liens.

     (b) Pledge Agreement. The Pledge Agreement is effective to create in favor
         ----------------
of the Collateral Agent, for the ratable benefit of the holders of the Secured
Obligations identified therein, a legal, valid and enforceable security interest
in the collateral identified therein and, when such collateral is delivered to
the Collateral Agent, the Pledge Agreement shall constitute a fully perfected
first priority Lien on, and security interest in, all right, title and interest
of the pledgors thereunder in such collateral, in each case prior and superior
in right to any other Lien.

                                       43

<PAGE>

                                    SECTION 7
                        AFFIRMATIVE COVENANTS OF BORROWER

     7. Borrower covenants and agrees that so long as the credit hereby granted
shall remain available in whole or in part or until the full and final payment
of all indebtedness incurred hereunder, unless Majority Banks waive compliance
in writing:

     7.1 Use of Proceeds of Loans. It will use the proceeds of the Loans made by
         ------------------------
Banks to Borrower hereunder solely for the purposes set forth in Section 6.11.

     7.2 Management of Business; Preservation of Existence. It will, and it will
         -------------------------------------------------
cause each other Credit Party to, (i) manage its business and conduct its
affairs such that the representations and warranties contained in Section 6
remain true and correct at all times, and (ii) except as otherwise permitted
hereunder, do all things necessary to preserve and keep in full force and effect
its existence, rights, franchises and authority, except to the extent that the
failure to do so would not have a Material Adverse Effect.

     7.3 Notice of Certain Events. It will, and it will cause each other Credit
         ------------------------
Party to, give prompt written notice to Administrative Agent (who shall promptly
notify the Banks) of:

          (a) all Events of Default or Unmatured Events of Default under any of
     the terms or provisions of this Agreement;

          (b) any event of default under any other agreement, contract,
     indenture, document or instrument that could in the reasonable opinion of
     Borrower be expected to result in a Material Adverse Effect;

          (c) all material changes in senior management otherwise publicly
     announced;

          (d) all litigation, arbitration or administrative proceedings
     involving Borrower or any of its Subsidiaries (including PAS and DLA) which
     could in the reasonable opinion of Borrower be expected to result in a
     Material Adverse Effect;

          (e) any other matter which has resulted in, or might in the reasonable
     opinion of Borrower result in, a Material Adverse Effect;

          (f) any change in any debt rating of the Borrower by S&P or Moody's;
     and

          (g) any material amendments, modifications, supplements or change
     under the EchoStar Transaction Documents (with copies thereof).

     7.4 Records. It will, and it will cause each other Credit Party to, keep
         -------
and maintain full and accurate accounts and records of its operations according
to GAAP and will permit Administrative Agent, and its designated officers,
employees, agents, and representatives, to

                                       44

<PAGE>

have access thereto and to make examination thereof at all reasonable times, to
make audits, and to inspect and otherwise check its properties, real, personal
and mixed; provided, however, that such examination and access shall be in
compliance with security and confidentiality requirements of all Governmental
Authorities and, subject to Section 11.16, Borrower's corporate policies.

     7.5 Information Furnished. It will furnish to Banks and Administrative
         ---------------------
Agent:

          (a) Within 45 days after the close of each quarter, except for the
     last quarter of each fiscal year, its consolidated balance sheet as of the
     close of such quarter and its consolidated statement of operations and
     statement of cash flow for that quarter and for that portion of the fiscal
     year ending with such quarter, all prepared in accordance with GAAP, and
     all certified by its Authorized Designee as presenting fairly the financial
     position and results of operation and changes in financial position of
     Borrower and its consolidated subsidiaries as at the end of, and for the
     fiscal period to which such statements relate, subject to normal year-end
     adjustments.

          (b) Within 90 days after the close of each fiscal year, a complete
     copy of its annual financial statements, which statements shall include at
     least its consolidated balance sheet as of the close of such fiscal year
     and its consolidated statement of operations and statement of cash flow for
     such fiscal year, audited by Deloitte & Touche (or such other independent
     certified public accountants of recognized international standing selected
     by Borrower) and prepared in accordance with GAAP applied on a consistent
     basis, and which statements shall include the opinion of such accountants,
     such opinion not to be qualified or limited because of any restricted or
     limited nature of examination made by such accountants or because of a
     "going concern" qualification.
      -------------

          (c) Within 45 days after the close of each quarter except for the last
     quarter of each fiscal year, (and within 90 days after the close of each
     fiscal year) its certificate executed by an Authorized Designee that (i)
     the representations and warranties set forth in Section 6 are true and
     correct in all material respects; and (ii) no Event of Default or Unmatured
     Event of Default has occurred and is continuing except such Events of
     Default or Unmatured Events of Default as have been expressly waived by or
     on behalf of the Banks.

          (d) Concurrently with the delivery of the financial statements
     referred to in clauses (a) and (b), a duly completed Compliance Certificate
     signed by an Authorized Designee, including demonstration of compliance
     with the financial covenants (and the components thereof), in detail and
     form reasonably acceptable to the Administrative Agent.

          (e) Promptly upon transmission or receipt thereof, copies of any
     filings and registrations with, and reports to or from, the Securities and
     Exchange Commission, or any successor agency.

                                       45

<PAGE>

          (f) Such other information concerning its affairs as Administrative
     Agent or the Majority Banks may reasonably request.

     7.6 [Intentionally Omitted.]

     7.7 Insurance. It will, and will cause each of the Credit Parties to, at
         ---------
all times maintain in full force and effect insurance (including worker's
compensation insurance, liability insurance, casualty insurance and business
interruption insurance) in such amounts, covering such risks and liabilities and
with such deductibles or self-insurance retentions as are in accordance with
normal industry practice (or as otherwise required by the Collateral Documents).
The Collateral Agent shall be named as loss payee or mortgagee, as its interest
may appear, and/or additional insured with respect to any such insurance
providing coverage in respect of any collateral under the Collateral Documents,
and each provider of any such insurance shall agree, by endorsement upon the
policy or policies issued by it or by independent instruments furnished to the
Collateral Agent, that it will give the Collateral Agent thirty days prior
written notice before any such policy or policies shall be altered or canceled,
and that no act or default of any Credit Party or any other Person shall affect
the rights of the Collateral Agent or the Banks under such policy or policies.
The present insurance coverage of the Credit Parties is outlined as to carrier,
policy number, expiration date and type on Schedule 7.7; provided, however, that
                                           ------------
Borrower and each of the Credit Parties may self-insure to the extent they deem
prudent.

     7.8 ERISA. It will, and it will cause each member of the Consolidated Group
         -----
to:

          (a) At all times, make prompt payment of contributions required to
     meet the minimum funding standard set forth in ERISA with respect to its
     Plans, except to the extent that waivers are granted by the appropriate
     governmental agencies;

          (b) Notify Administrative Agent immediately of (i) any Reportable
     Event which could reasonably be expected to result in aggregate liability
     to the members of the Consolidated Group in excess of $75,000,000 and (ii)
     any other fact arising in connection with any of its Plans or a Plan of any
     ERISA Affiliate which has resulted, or could reasonably be expected to
     result, in termination thereof by the Pension Benefit Guaranty Corporation
     or for the appointment by the appropriate United States District Court of a
     trustee to administer such Plan, in each case together with a statement, if
     requested by Administrative Agent, as to the reasons therefor and the
     action, if any, which Borrower or such ERISA Affiliate proposes to take
     with respect thereto; and

          (c) Furnish to Administrative Agent, upon its written request, such
     information concerning any of its Plans as may be reasonably requested.

     7.9 Administrative Agent's Fees. It will compensate Administrative Agent as
         ---------------------------
mutually agreed.

     7.10 Payment of Taxes and Other Indebtedness. It will, and will cause each
          ---------------------------------------
member of the Consolidated Group to, pay and discharge (i) all taxes,
assessments and governmental

                                       46

<PAGE>

charges or levies imposed upon it, or upon its income or profits, or upon any of
its properties, before they become delinquent, (ii) all lawful claims (including
claims for labor, material and supplies) that, if unpaid, might give rise to a
Lien upon any of its properties, and (iii) except as prohibited hereunder, all
of its other Indebtedness as it becomes due, except to the extent that the
failure to do so would not have a Material Adverse Effect; provided that no
                                                           --------
member of the Consolidated Group shall be required to pay any amount that is
being contested in good faith by appropriate proceedings for which adequate
reserves determined in accordance with GAAP have been established, unless
failure to make any such payment (A) could give rise to an immediate right to
foreclose on a Lien securing such amounts or (B) could have a Material Adverse
Effect.

     7.11 Performance of Obligations. It will, and will cause each other Credit
          --------------------------
Party to, perform in all material respects all of its obligations under the
terms of all material agreements, indentures, mortgages, security agreements and
other debt instruments to which it is a party or by which it is bound, a breach
of which would result in a Material Adverse Effect, except where contested in
good faith by appropriate proceedings diligently pursued.

     7.12 Compliance with Law. It will, and will cause each member of the
          -------------------
Consolidated Group to, comply with the requirements of all applicable laws,
rules, regulations, and orders of any Governmental Authority, a breach of which
would result in a Material Adverse Effect, except where contested in good faith
by appropriate proceedings diligently pursued.

     7.13 Maintenance of Property. It will, and will cause each other Credit
          -----------------------
Party to, maintain and preserve its material properties and equipment in good
repair, working order and condition, normal wear and tear and casualty and
condemnation excepted, and make all repairs, renewals, replacements, extensions,
additions, betterments and improvements thereto as may be necessary or proper,
to the extent and in the manner customary for similar businesses.

     7.14 Additional Credit Parties.
          -------------------------

     (a) Except for the Subsidiaries of HTS, which shall not be required to
become Guarantors hereunder, where Domestic Subsidiaries that are not Guarantors
hereunder (the "Non-Guarantor Subsidiaries") shall, at any time, individually in
                --------------------------
any instance, qualify as a Significant Subsidiary, as of either the Amendment
Date or the end of the most recent fiscal quarter, then Borrower shall promptly
notify Administrative Agent thereof and cause such Non-Guarantor Subsidiaries to
be joined as Guarantors. In connection with any such joinder hereunder, Borrower
shall cause there to be delivered to Administrative Agent promptly, but in any
event within 30 days, (i) a Guaranty (or an amendment, supplement or joinder to
the existing Guaranty), and an amendment, supplement or joinder to the
Collateral Documents (including UCC financing statements), in form and substance
satisfactory to Administrative Agent, to join the applicable Domestic Subsidiary
as a Guarantor hereunder, and such other action necessary or advisable to cause
the Liens created by the Collateral Documents to be duly perfected by the filing
of appropriate financing statements, (ii) such supporting resolutions,
incumbency certificates, corporate formation and organizational documentation
and opinions of counsel as Administrative Agent may reasonably request, and
(iii) stock certificates and related pledge agreements and pledge joinder
agreements evidencing the pledge of 100% of the capital stock or

                                       47

<PAGE>

other equity interest of such Significant Subsidiary, together with undated
stock transfer powers executed in blank.

     (b) Where there shall exist any Foreign Subsidiary which qualifies as a
Significant Subsidiary and is directly owned by the Borrower or a Domestic
Subsidiary, as of the end of the most recent fiscal quarter, then Borrower shall
promptly notify Administrative Agent thereof and cause to be delivered to
Administrative Agent promptly, but in any event within 30 days, (i) stock
certificates and related pledge agreements and pledge joinder agreements
evidencing the pledge of 65% of the voting capital stock or other equity
interest of such Foreign Subsidiary, together with undated stock transfer powers
executed in blank, and (ii) such supporting resolutions, incumbency
certificates, corporate formation and organizational documentation and opinions
of counsel as Administrative Agent may reasonably request, in connection
therewith.

                                    SECTION 8
                         NEGATIVE COVENANTS OF BORROWER

     8. Borrower covenants and agrees that so long as the credit hereby granted
shall remain available in whole or in part or until the full and final payment
of all indebtedness incurred hereunder, unless Majority Banks waive compliance
in writing:

     8.1 Indebtedness. The Borrower will not, nor will it permit any other
         ------------
Credit Party to, create, incur, assume or permit to exist any Indebtedness,
except:

          (a) Indebtedness existing or arising under this Agreement or the other
     Loan Documents;

          (b) Indebtedness of up to $2.0 billion of principal owing under that
     Revolving Credit Agreement dated as of October 1, 2001 (as amended and
     modified, the "GMAC Credit Agreement") between the Borrower, as borrower,
                    ---------------------
     and General Motors Acceptance Corporation ("GMAC"), as lender, consisting
                                                 ----
     of up to $500 million of principal in revolving credit financing evidenced
     by a promissory note in the principal amount of $500 million (as amended
     and modified, the "GMAC Shared Collateral Note") to be secured by the same
                        ---------------------------
     collateral securing the loans and obligations under this Agreement and the
     remaining amount of such financing evidenced by a promissory note in the
     principal amount of $1.5 billion (as amended and modified, the "GMAC Cash
                                                                     ---------
     Secured Note") to be secured by funds advanced by the Borrower to GMAC
     ------------
     pursuant to that certain Loan Set-Off and Security Agreement dated as of
     October 1, 2001 (as amended and modified, the "GMAC Security Agreement"),
                                                    -----------------------
     with such funds being held on deposit in the GMAC Credit Balance Account,
     such Credit Balance Account being pledged for the exclusive benefit of GMAC
     (or subsequent holder of the loans and obligations under the GMAC Credit
     Agreement), together with the guaranty of the GMAC Shared Collateral Debt
     by certain subsidiaries of the Borrower;

          (c) Indebtedness of the Borrower and the other Credit Parties existing
     on the Amendment Date and set forth on Schedule 8.1, and renewals,
                                            ------------
     refinancings and

                                       48

<PAGE>

     extensions thereof on then applicable market terms and conditions (except
     in the case of Indebtedness owing to GMAC which shall be on the terms in
     the GMAC Credit Agreement);

          (d) purchase money Indebtedness (including obligations in respect of
     capital leases but excluding Synthetic Leases) hereafter incurred by the
     Borrower or any of its Subsidiaries to finance the purchase of fixed assets
     provided that (i) such Indebtedness when incurred shall not exceed the
     --------
     purchase price of the asset(s) financed; and (ii) no such Indebtedness
     shall be refinanced for a principal amount in excess of the principal
     balance outstanding thereon at the time of such refinancing;

          (e) up to $140 million in the aggregate of obligations of the Borrower
     and its Subsidiaries in respect of letters of credit issued after the
     Amendment Date;

          (f) obligations of the Borrower or any of the other Credit Parties
     owing under interest rate, commodities and foreign currency exchange
     protection agreements entered into in the ordinary course of business to
     manage existing or anticipated risks and not for speculative purposes;

          (g) unsecured intercompany Indebtedness owing by a Credit Party to a
     member of the Consolidated Group;

          (h) other Funded Debt in an aggregate principal amount of up to $100
     million at any time;

          (i) Support Obligations with respect to any Indebtedness permitted
     under clauses (a) through (h) of this Section 8.1;

          (j) Funded Debt of a Credit Party secured by Liens on the investments
     described in Schedule 3.4(b)(ii), provided that no more than $25 million of
                  -------------------  --------
     such indebtedness shall have recourse to such Credit Party;

          (k) Funded Debt of a Credit Party under notes issued in connection
     with, or in anticipation of, the merger by the Borrower (or HEC Holdings,
     Inc. a holding company formed to hold all of the capital stock of the
     Borrower) with EchoStar Communications Corporation; and

          (l) contracts for Indebtedness (but not the incurrence of such
     Indebtedness, unless arrangements satisfactory to the Administrative Agent,
     for the full and final payment of all Indebtedness incurred hereunder shall
     have been made) to be incurred in connection with the consummation of the
     transactions contemplated by the EchoStar Transaction Documents.

                                       49

<PAGE>

     8.2 Financial Covenants.
         -------------------

     (a) Consolidated Net Worth. As of the end of each fiscal quarter,
         ----------------------
Consolidated Net Worth shall be not less than the sum of (i) $9.3 billion, (ii)
for each fiscal quarter ending after the Amendment Date, an amount equal to
fifty percent (50%) of Consolidated Net Income (but not less than zero) for such
fiscal quarter, such increases to be cumulative, and (iii) an amount equal to
one hundred percent (100%) of net proceeds received from Equity Transactions
occurring after the Amendment Date.

     (b) Consolidated Leverage Ratio. As of the end of each fiscal quarter, the
         ---------------------------
Consolidated Leverage Ratio shall be not greater than:

Fiscal Quarter Ending
---------------------

March 31, 2002          6.0:1.0
June 30, 2002           6.75:1.0
September 30, 2002      6.75:1.0
December 31, 2002       6.0:1.0

     (c) Consolidated Interest Coverage Ratio. As of the end of each fiscal
         ------------------------------------
quarter, the Consolidated Interest Coverage Ratio shall be not less than:

Fiscal Quarter Ending
---------------------

March 31, 2002       2.50:1.0
June 30, 2002        2.0:1.0
September 30, 2002   2.0:1.0
December 31, 2002    2.25:1.0

     (d) Minimum Liquidity/Availability. The Borrower will maintain at all times
         ------------------------------
at least $150 million in the sum of (i) unrestricted and unencumbered cash and
Cash Equivalents on hand, and (ii) availability remaining under this Agreement
and availability under the GMAC Credit Agreement in excess of cash collateral in
the GMAC Credit Balance Account.

     (e) Consolidated Capital Expenditures. Consolidated Capital Expenditures
         ---------------------------------
will not exceed:

                  Period
                  ------

January 1, 2002 through March 31, 2002                            $  450,000,000
January 1, 2002 through June 30, 2002                             $  800,000,000
January 1, 2002 through September 30, 2002                        $1,100,000,000
January 1, 2002 through December 5, 2002                          $1,450,000,000

     8.3 Liens. The Borrower will not, nor will it permit any other Credit Party
         -----
to, contract, create, incur, assume or permit to exist any Lien with respect to
any of its property, whether now owned or after acquired, except for Permitted
Liens.

                                       50

<PAGE>

     8.4 Nature of Business. The Borrower will not, nor will it permit the
         ------------------
Credit Parties taken as a whole to, substantively alter the character or conduct
of its or their business conducted as of the Amendment Date.

     8.5 Merger and Consolidation, Dissolution and Acquisitions.
         ------------------------

     (a) Except for the transactions contemplated in the EchoStar Transaction
Documents, the Credit Parties will not enter into any transaction of merger or
consolidation, except that:

          (i) a Credit Party may be party to a transaction of merger or
     consolidation with another Credit Party; provided that if the Borrower is a
                                              --------
     party to such transaction, it shall be the surviving entity;

          (ii) a Foreign Subsidiary may be party to a transaction of merger or
     consolidation with a Subsidiary of the Borrower; provided that (A) if a
                                                      --------
     Domestic Subsidiary is a party thereto, it shall be the surviving entity
     and if such Domestic Subsidiary is not already a Credit Party, it shall
     execute and deliver such joinder agreements as may be necessary for
     compliance with the provisions of Section 7.11, and (B) if a Foreign
     Subsidiary is a party thereto and a Domestic Subsidiary is not a party
     thereto, the surviving entity shall be a Foreign Subsidiary and the
     Borrower and its Subsidiaries shall be in compliance with the requirements
     of Section 7.11;

          (iii) a Domestic Subsidiary of the Borrower may be a party to a
     transaction of merger or consolidation with a Person other than a member of
     the Consolidated Group; provided that (A) the surviving entity shall be a
                             --------
     Domestic Subsidiary of the Borrower and shall execute and deliver such
     joinder agreements as may be necessary for compliance with the provisions
     of Section 7.11, (B) no Event of Default or Unmatured Event of Default
     shall exist immediately after giving effect thereto, and (C) the
     transaction shall otherwise constitute a Permitted Acquisition;

          (iv) a Subsidiary of the Borrower may enter into a transaction of
     merger or consolidation in connection with an Asset Disposition permitted
     under Section 8.6; and

          (v) a Credit Party may enter into a transaction of merger or
     consolidation set forth in Schedule 8.5(a).
                                ---------------

     (b) Except as set forth in Schedule 8.5(b), the Credit Parties will not
                                ---------------
dissolve, liquidate or wind up their affairs.

     (c) No Credit Party shall make any Acquisition, unless after giving effect
to such acquisition, such Acquisition shall constitute both a Permitted
Acquisition and a Permitted Investment.

     8.6 Asset Dispositions. The Borrower (I) will not sell or otherwise dispose
         ------------------
of the capital stock of PAS unless all shares owned by the Borrower, directly or
indirectly, are sold or

                                       51

<PAGE>

otherwise disposed of in such a transaction yielding minimum net cash proceeds
in an aggregate amount not less than the sum of the principal amount of Loan
Obligations hereunder and the principal amount of the GMAC Shared Collateral
Debt, and (II) will not nor will it permit any other Credit Party to, make any
other Asset Disposition, except for

          (i) Asset Dispositions of up to $500 million in the aggregate from the
     Amendment Date; provided that (A) not less than 85% of the sales proceeds
                     --------
     shall be paid in cash on the date of sale, (B) no Event of Default or
     Unmatured Event of Default shall exist after giving effect to any such sale
     on a pro forma basis, and (C) the net cash proceeds from any such sale
     shall be applied to the Loan Obligations hereunder as provided in Section
     3.4(b)(ii);

          (ii) the sale of Non-Core Assets with a net book tangible asset value
     of up to $50 million in the aggregate from the Amendment Date, provided
                                                                    --------
     that (A) an Authorized Designee will deliver a certificate to the
     Administrative Agent demonstrating that after giving effect to the sale on
     a Pro Forma Basis the Consolidated Leverage Ratio will not increase, (B) no
     Event of Default or Unmatured Event of Default shall exist after giving
     effect to any such sale on a pro forma basis, and (C) the net cash proceeds
     from any such sale that is an Asset Disposition shall be applied to the
     Loan Obligations hereunder as provided in Section 3.4(b)(ii);

          (iii) other Asset Dispositions with the consent of the Administrative
     Agent and the Majority Banks;

          (iv) Asset Dispositions resulting from the receipt of cash insurance
     proceeds and condemnation awards; and

     (v) Asset Dispositions described in Schedule 8.6.
                                         ------------

     The parties agree any sale or disposition permitted by this Agreement shall
be made free and clear of the liens and encumbrances securing the loans and
obligations under this Agreement and the other loans and obligations secured by
the same collateral. In connection with any sale or disposition permitted by
this Agreement, the Collateral Agent and the Administrative Agent will deliver,
promptly upon the request and at the expense of the Borrower, such directions,
confirmation and documentation as is necessary or appropriate to give effect to
the release of the liens and security interests in the property that is the
subject of the sale or disposition in order to give effect to the provisions of
this Section, including amendment, release and termination of UCC financing
statements, return of pledged stock certificates and the release of a Guarantor,
as applicable, from its guaranty obligations to give effect to the sale or
disposition.

     8.7 Investments. The Borrower will not, nor will it permit any other Credit
         -----------
Party to, make or permit to exist Investments, except for Permitted Investments.

     8.8 Restricted Payments. Except as set forth in Schedule 8.8, the Borrower
         -------------------                         ------------
will not make or declare, any Restricted Payment without the prior written
consent of the Majority Banks.

                                       52

<PAGE>

     8.9 Modifications and Payments in respect of Funded Debt. None of the
         ----------------------------------------------------
Credit Parties will, except in connection with a refinancing, refunding or
disposition of assets permitted hereunder, make any prepayment, redemption,
defeasance or acquisition for value of (including, without limitation, by way of
depositing money or securities with the trustee with respect thereto before due
for the purpose of paying when due), or refund, refinance or exchange of any
Funded Debt (other than the Indebtedness under the Loan Documents and
intercompany Indebtedness permitted hereunder) other than (i) regularly
scheduled payments of principal and interest on such Funded Debt and (ii) in the
case of Funded Debt under the GMAC Credit Agreement, prepayments of principal
but only at any time when the Loan Obligations hereunder shall have been paid to
zero ($0) or, in the case of LOC Obligations, cash collateralized and the
Commitments under this Agreement shall have been terminated, provided that the
                                                             --------
foregoing shall not in any way impair the ability of GMAC to set-off against the
GMAC Credit Balance Account (or take other remedial action in respect of the
GMAC Credit Balance Account).

     8.10 Transactions with Affiliates. Except as set forth on Schedule 8.10,
          ----------------------------                         -------------
the Borrower will not, nor will it permit any other Credit Party to, enter into
or permit to exist any material transaction or series of transactions with any
shareholder, Subsidiary or Affiliate of such Person other than (a) transactions
between members of the Consolidated Group in the ordinary course of business,
(b) transactions permitted by Section 8.1, Section 8.5, Section 8.6, Section
8.7, or Section 8.8 and (c) except as otherwise specifically limited in this
Agreement, other transactions which are entered into in the ordinary course of
such Person's business on terms and conditions substantially as favorable to
such Person as would be obtainable by it in a comparable arms-length transaction
with a Person other than a shareholder, Subsidiary or Affiliate.

     8.11 Fiscal Year. The Borrower will not, nor will it permit any other
          -----------
Credit Party to, change its fiscal year without the prior written consent of the
Majority Banks.

     8.12 Limitation on Restricted Actions. The Borrower will not, nor will it
          --------------------------------
permit any other Credit Party to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective any encumbrance or restriction on
the ability of any such Person to (a) pay dividends or make any other
distributions on its capital stock or other equity interest or with respect to
any other interest or participation in, or measured by, its profits, (b) pay any
Indebtedness or other obligation, (c) make loans, advances or capital
contributions, (d) sell, lease or otherwise transfer any of the properties or
assets subject to the Collateral Documents, or (e) act as a guarantor or grant a
Lien on or a pledge of its assets, except for such encumbrances or restrictions
existing under or by reason of (i) this Agreement and the other Loan Documents,
(ii) pursuant to the terms of any purchase money Indebtedness permitted by
Section 8.1(d) to the extent such limitations relate only to the property that
is the subject of such financing, (iii) under the GMAC Credit Agreement, (iv)
under the credit agreement or other instrument governing Funded Debt issued
under Section 8.1(j) or 8.1(k) or the cash collateral permitted in respect of
letters of credit under clause (iii) of the definition of "Permitted Liens", (v)
under the EchoStar Transaction Documents and (vi) restrictions of Governmental
Authorities.

     8.13 Ownership of Subsidiaries; Limitations on Borrower. The Borrower will
          --------------------------------------------------
not, nor will it permit any other Credit Party to, (i) permit any Person (other
than the Borrower or any

                                       53

<PAGE>

wholly owned Subsidiary of the Borrower) to own any capital stock or other
equity interest of any Credit Party (other than the Borrower), except (A) to
qualify directors where required by applicable law or to satisfy other
requirements of applicable law with respect to the ownership of capital stock or
other equity interest of Foreign Subsidiaries or (B) as a result of or in
connection with a dissolution, merger, consolidation or disposition of a
Subsidiary permitted under Section 8.5 or Section 8.6, (ii) permit any Credit
Party (other than the Borrower) to issue any shares of preferred capital stock
or other equity interest or (iii) permit, create, incur, assume or suffer to
exist any Lien on any capital stock or other equity interest of any Credit Party
(other than the Borrower), except for Permitted Liens.

     8.14 Sale Leasebacks. Except for transactions described in the second
          ---------------
proviso of clause (ix) of the definition of "Permitted Liens", which shall not
constitute a sale and leaseback transaction hereunder, the Borrower will not,
nor will it permit any other Credit Party to, enter into any sale and leaseback
transaction unless such sale and leaseback transaction is permitted by Section
8.1(d) and Section 8.6, and the net proceeds therefrom are applied to the Loans
hereunder as provided in Section 3.4(b)(ii) hereof.

                                    SECTION 9
                                EVENTS OF DEFAULT

     9.1 Events of Default. If one or more of the following described Events of
         -----------------
Default shall occur:

     (a) Borrower shall default in the due and punctual payment of (i) the
principal of any Loan or reimbursement obligation in respect of any drawing
under a Letter of Credit when due,(ii) the interest on any Loan within two
Business Days of its due date, (iii) any fee due hereunder within 10 Business
Days of its due date; or (iv) any other amount due from it hereunder within 30
Business Days of its due date; or

     (b) Borrower or any of the other Credit Parties shall fail to perform or
observe any of the terms, provisions, covenants, conditions, agreements or
obligations contained herein (other than Section 7.3, and Sections 8.1 through
8.14,) and such failure shall continue for more than 20 days after written
notice from Administrative Agent to Borrower of the existence and character of
such failure to perform or observe; or

     (c) Borrower or any of the other Credit Parties shall fail to perform or
observe any of the terms, provisions, covenants, conditions agreements or
obligations contained in Section 7.3 and Sections 8.1 through 8.14; or

     (d) (i) Borrower or any of the other Credit Parties or PanAmSat
Corporation, a Delaware corporation (which solely for purposes of this clause
(d) shall be deemed to be included as and considered to be a "Credit Party")
shall become insolvent, or be unable, or admit in writing its inability, to pay
its debts as they become due; or (ii) Borrower or any other Credit Party shall
make an assignment for the benefit of creditors or to an agent authorized to
liquidate any substantial amount of its properties or assets; or (iii) Borrower
or any other Credit Party shall

                                       54

<PAGE>

file or have filed against it a petition in bankruptcy or seeking reorganization
or to effect a plan or other arrangement with creditors or winding up or
dissolution and such filing against it shall not be dismissed within 60 days
after the date of such filing; or (iv) Borrower or any other Credit Party shall
apply for or consent to the appointment of or consent that an order be made
appointing any receiver or trustee for any of its or their properties, assets or
business, or if a receiver or a trustee shall be appointed for all or a
substantial part of its or their properties, assets or business; or (v) an order
for relief shall be entered against Borrower or any other Credit Party under the
United States federal bankruptcy laws as now or hereafter in effect; or (vi)
Borrower or any other Credit Party shall take any action indicating its consent
to, approval of or acquiescence in, any of the foregoing; or

     (e) Any representation or warranty made by Borrower herein or by the
Borrower or any of the other Credit Parties in any other Loan Document or any
certificate or financial or other statement heretofore or hereafter furnished by
Borrower or any of its officers to Administrative Agent or the Banks proves to
be in any material respect false or misleading as of the date when made, deemed
made or reaffirmed; or

     (f) Any final judgment, decrees, writs of execution, attachments or
garnishments or any Liens, or any other legal processes shall be issued or
levied against any of the assets or property of Borrower or any of the other
Credit Parties (and shall not have been vacated, discharged or stayed within
thirty days) in amounts which in the aggregate would result in a Material
Adverse Effect (without limiting the generality of the foregoing, a judgment in
excess of $75,000,000 in the aggregate shall, for purposes only of this Section
9.1(f), be deemed to result in a Material Adverse Effect); provided, however,
                                                           --------  -------
that such aggregate amount shall include only amounts in excess of (i) insurance
coverage therefor and (ii) reserves on the books of Borrower or any of the other
Credit Parties therefore; provided, further, that such aggregate amount shall
                          --------
not include any amounts with respect to matters subject to appeal conducted in
good faith and diligently pursued or other further legal process by Borrower or
any of the other Credit Parties, or any amounts with respect to any such legal
process which Borrower or any of the other Credit Parties has detached from such
property by posting of a bond or equivalent process; or

     (g) All, or substantially all, of the assets and property of Borrower or
any of the other Credit Parties shall be condemned, seized or otherwise
appropriated; or

     (h) Any fact or circumstance (including without limitation a Reportable
Event), which results in, or which Majority Banks determine in good faith could
reasonably be expected to result in, the termination of any Plan of Borrower,
any of its Subsidiaries or any ERISA Affiliate by the Pension Benefit Guaranty
Corporation or the appointment by an appropriate United States District Court of
a trustee to administer any such Plan, shall occur and shall continue for 30
days after written notice of such determination shall have been given to
Borrower or any of its Subsidiaries by Administrative Agent, or a trustee shall
be appointed by the appropriate United States District Court to administer any
Plan of Borrower or any of its Subsidiaries, or the Pension Benefit Guaranty
Corporation shall institute proceedings to terminate any Plan of Borrower or any
of its Subsidiaries or to appoint a trustee to administer any such Plan and,
upon the occurrence of any of the foregoing, the aggregate amount of the

                                       55

<PAGE>

unfunded vested liability for the benefits guaranteed by the Pension Benefit
Guaranty Corporation under all such Plans and the present value of any
Withdrawal Liability which remains unpaid is reasonably estimated to be in
excess of $75,000,000 and such liability is not covered by insurance; or

     (i) Borrower or any of the other Credit Parties (i) fails to make any
payment (or otherwise satisfy) in respect of any indebtedness for money borrowed
when due (whether by scheduled maturity, required prepayment, acceleration,
demand, or otherwise) and such failure continues after the applicable grace or
notice period, if any, specified in the document relating thereto on the date of
such failure; or (ii) an event of default shall occur which permits the
acceleration of indebtedness for money borrowed under any other agreement,
contract, indenture, document or instrument executed, or which may be executed,
by Borrower or any of the other Credit Parties, which failure or event of
default has not been waived or cured; provided, however, that no Event of
Default shall exist hereunder if the amount of the indebtedness which is not
paid or may be accelerated with respect to the defaulted obligations shall not
exceed in the aggregate $75,000,000; or

     (j) (i) Any Credit Party shall default in the due performance or observance
of any term, covenant or agreement in any of the other Loan Documents (and such
failure shall continue for 20 days after notice thereof) or (ii) except as a
result of or in connection with a dissolution, merger or disposition of a
Subsidiary permitted under Section 8.5 or Section 8.6, any Loan Document shall
fail to be in full force and effect or to give the Administrative Agent and/or
the Lenders the Liens, rights, powers and privileges purported to be created
thereby, or any Credit Party shall so state in writing; or

     (k) Except as the result of or in connection with a dissolution, merger or
disposition of a Subsidiary permitted under Section 8.5 or Section 8.6, the
guaranty given by any Guarantor (including any Person that becomes a Guarantor
after the Amendment Date in accordance with Section 7.14) or any provision
thereof shall cease to be in full force and effect, or any Guarantor (including
any Person that becomes a Guarantor after the Amendment Date in accordance with
Section 7.14) or any Person acting by or on behalf of such Guarantor shall deny
or disaffirm such Guarantor's obligations under such guaranty, or any Guarantor
shall default in the due performance or observance of any term, covenant or
agreement on its part to be performed or observed pursuant to any guaranty (and
such failure shall continue for 20 days); or

     (l) Any sale, spin-off, disposition or other transaction whereby, (i) GM
will no longer beneficially own directly or indirectly at least 51 percent (51%)
of the issued and outstanding capital stock of Borrower having voting power
under ordinary circumstances to elect directors of Borrower shall have occurred
or (ii) the Borrower will no longer beneficially own directly or indirectly at
least 51 percent (51%) of the issued and outstanding capital stock of PanAmSat
Corporation, a Delaware corporation, having voting power under ordinary
circumstances to elect directors of PanAmSat Corporation shall have occurred;

then (a) automatically upon the occurrence of an Event of Default under Section
9.1(d), the Commitments shall immediately terminate, and all Loans and other
liabilities and obligations outstanding under this Agreement shall, without
presentment, demand, protest, or notice of any

                                       56

<PAGE>

kind, all of which are hereby expressly waived, be forthwith due and payable, if
not herein otherwise then due and payable, together with all costs and expenses
(including break and funding costs and other costs in connection with the
relending, reborrowing, funding or other employing of funds) incurred by the
Banks as a result thereof, anything herein or in any agreement, contract,
indenture, document or instrument contained to the contrary notwithstanding; and
(b) at any time after the occurrence of an Event of Default other than under
Section 9.1(d), and in each and every such case, unless such Event of Default
shall have been remedied by Borrower to the satisfaction of Majority Banks or
waived in writing by Majority Banks (except in the case of an Event of Default
under Section 9.1.(a), the waiver of which shall require the consent of all the
Banks), Administrative Agent may, with the consent of the Majority Banks, or
shall, upon the direction of Majority Banks, immediately terminate the
Commitments, whereupon the same shall be cancelled and reduced to zero and any
Loan Request given in respect of a Borrowing Date occurring on or after the date
of such notice of cancellation shall cease to have effect and all Loans and all
accrued interest thereon and all other liabilities and obligations (including an
obligation to pay over cash collateral in the amount of LOC Obligations)
outstanding under this Agreement shall, thereupon, without presentment, demand,
protest, or notice of any kind, all of which are hereby expressly waived, be
forthwith due and payable, if not otherwise then due and payable, together with
all reasonable costs and expenses (including break and funding costs and other
costs in connection with the relending, reborrowing, funding or other employing
of funds) incurred by the Banks as a result thereof, anything herein or in any
other agreement, contract, indenture, document or instrument contained to the
contrary notwithstanding. Thereafter any Bank or the Banks may immediately, and
without expiration of any period of grace, enforce payment of all liabilities
and obligations of Borrower under this Agreement.

     9.2 Recovery of Amounts Due. If any amount payable hereunder is not paid as
         -----------------------
and when due, Borrower hereby authorizes Administrative Agent, each Bank and
their respective Affiliates to proceed, to the fullest extent permitted by
applicable law, without prior notice, by right of set-off, banker's lien or
counterclaim, against any moneys or other assets of Borrower in any currency
that may at any time be in the possession of Administrative Agent or any of its
Affiliates or such Bank or any of its Affiliates, at any branch or office
thereof, to the full extent of all amounts payable to Administrative Agent and
the Banks hereunder. Any Bank that so proceeds or that has an Affiliate that so
proceeds shall forthwith give notice to Administrative Agent of any action taken
by such Bank or Affiliate pursuant to this Section 9.2.

     9.3 Rights Cumulative. The rights of Administrative Agent and the Banks
         -----------------
provided for herein are cumulative and are not exclusive of any other rights,
powers, privileges or remedies provided by law or in equity.

                                   SECTION 10
                                    THE BANKS

     10.1 Administration of Loan. The general administration of the Loans shall
          ----------------------
be by Administrative Agent and shall be governed by the provisions set forth in
Exhibit C attached hereto and incorporated herein by reference.
---------

                                       57

<PAGE>

     10.2 Representations By Banks. Each Bank hereby represents that it will
          ------------------------
make each Loan hereunder in the ordinary course of its business and not with a
view to engage in any distribution of any evidence of indebtedness to the public
and any participation or disposition of any Note shall not, without the consent
of Borrower, require Borrower to file a registration statement with the
Securities and Exchange Commission or apply to qualify any Note under the blue
sky law of any state; provided, however, disposition of any evidence of
indebtedness held by such Bank shall at all times be within its exclusive
control subject only to the provisions of Section 11.11 and Section 10 of
Exhibit C.
---------

                                   SECTION 11
                            MISCELLANEOUS PROVISIONS

     11.1 Amendments and Waivers. No amendment or waiver of any provision of
          ----------------------
this Agreement, and no consent with respect to any departure by Borrower
therefrom, shall be effective unless the same shall be in writing and signed by
Majority Banks (or by the Administrative Agent at the written request of
Majority Banks) and the Borrower and acknowledged by Administrative Agent, and
then any such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given; provided, however, that no such
waiver, amendment, or consent shall, unless in writing and signed by all Banks
and Borrower and acknowledged by Administrative Agent, do any of the following:
(a) increase or extend the Commitment of any Bank (or reinstate any Commitment
terminated pursuant to Section 9.1); (b) postpone or delay any date fixed by
this Agreement for any payment of principal, interest, fees or other amounts due
to the Banks (or any of them) hereunder; (c) reduce the principal of, or the
rate of interest specified herein on any Loan, or any fees or other amounts
payable hereunder; (d) change the percentage of the Commitments or of the
aggregate unpaid principal amount of the Loans which is required for the Banks
or any of them to take any action hereunder; or (e) amend this Section or any
provision herein providing for consent or other action by all Banks; provided,
                                                                     --------
further, that no amendment, waiver or consent shall, unless in writing and
-------
signed by Administrative Agent in addition to Majority Banks or all Banks, as
the case may be, affect the rights or duties of Administrative Agent under this
Agreement or rights or privileges thereunder.

     11.2 Notices. All notices, payments, requests, reports, information,
          -------
demands and other communications which any party hereto may desire, or may be
required, to give or make to any other party hereto, shall (unless otherwise
permitted as a telephonic notice or request hereunder) be given by mailing the
same, postage prepaid, or by facsimile transmission, or by hand delivery or
courier, to each party at its address set forth in Exhibit D attached hereto and
                                                   ---------
incorporated herein by reference, or to such other address as may, from time to
time, be specified in writing by Borrower or any Bank. Such communications shall
be deemed to have been duly given and received in the case of mail when sent by
pre-paid certified or registered mail correctly addressed to the addressee, in
the case of facsimile transmission, when transmission has been sent, in the case
of hand delivery or courier, when received. Administrative Agent may rely and
act upon any Loan Request made by telephonic or facsimile instructions to
Administrative Agent by any Person purporting to be an authorized Person of
Borrower, and Borrower shall be

                                       58

<PAGE>

unconditionally and absolutely estopped from denying the authenticity and
validity of any transaction or act made by Administrative Agent or any Bank in
reliance thereon. Each party hereto shall promptly confirm by facsimile any
telephone communication made by it to another pursuant to this Agreement but the
absence of such confirmation shall not affect the validity of such
communication, which shall be effective upon receipt. If there is any conflict
between any telephonic communication and a written confirmation, the written
communication shall govern; provided, however, that the recipient of such
communication shall be held harmless by all parties hereto with respect to any
action taken in reliance on the telephonic communication prior to the time such
recipient receives and has had reasonable time to review the subsequent written
confirmation and initiate such corrective action as the recipient deems
reasonable under the circumstances.

     11.3 Waiver. Neither the failure of, nor any delay on the part of, any
          ------
party hereto in exercising any right, power or privilege hereunder, or under any
agreement, contract, indenture, document or instrument mentioned herein, shall
operate as a waiver thereof, nor shall any single or partial exercise of any
right, power or privilege hereunder, or under any agreement, contract,
indenture, document or instrument mentioned herein, preclude other or further
exercise thereof or the exercise of any other right, power or privilege; nor
shall any waiver of any right, power, privilege or default hereunder, or under
any agreement, contract, indenture, document or instrument mentioned herein,
constitute a waiver of any other right, power, privilege or default or
constitute a waiver of any other default of the same or of any other term or
provision. All rights and remedies herein provided are cumulative and not
exclusive of any rights or remedies otherwise provided by law.

     11.4 New York Law. The interpretation, enforcement and effect of this
          ------------
Agreement, the Loans and any agreements, contracts, indentures, documents or
instruments delivered in accordance herewith, shall be governed and controlled
in all respects by and construed according to the substantive laws of the State
of New York, to the jurisdiction of whose courts the parties hereto hereby agree
to submit.

     11.5 Headings. The headings set forth herein are solely for the purpose of
          --------
identification and shall not be construed as a part of the sections or
subsections which they head.

     11.6 [Intentionally Omitted.]

     11.7 Counterparts. This Agreement may be executed in any number of
          ------------
counterparts and by the different parties hereto on separate counterparts, and
all of said counterparts taken together shall constitute one and the same
instrument.

     11.8 Written Disclosure. Wherever written disclosure by Borrower to Banks
          ------------------
is required or permitted by this Agreement, written disclosure to Administrative
Agent by Borrower shall constitute such disclosure.

     11.9 Singular; Plural. Whenever used herein, the singular number shall
          ----------------
include the plural, the plural the singular, and the use of any gender shall be
applicable to all genders.

                                       59

<PAGE>

     11.10 Illegality. The illegality or unenforceability of any provision of
           ----------
this Agreement or any instrument or agreement required hereunder shall not in
any way affect or impair the legality or enforceability of the remaining
provisions of this Agreement or any instrument or agreement required hereunder.

     11.11 Assignments. This Agreement shall bind and inure to the benefit of
           -----------
the parties hereto and their respective successors and assigns. No party hereto
may assign or transfer all or any part of its rights and obligations hereunder,
except that:

     (a) Any Bank may, with the prior written consent of Borrower at all times
other than during the existence of an Event of Default, the Administrative Agent
and the Issuing Bank, which consents shall not be unreasonably withheld, at any
time assign and delegate to one or more Eligible Assignees (provided that no
written consent of Borrower or the Administrative Agent shall be required in
connection with any assignment and delegation by Bank to an Approved Bank
Affiliate of such Bank or another Bank), all or any part of the respective Loan
Obligations and the Commitments relating thereto and the other rights and
obligations of such Bank hereunder. Upon execution of a Notice of Assignment and
Acceptance by such Eligible Assignee in which it agrees to abide by all of the
terms, conditions and obligations applicable to a Bank herein and in the
Intercreditor Agreements and to have the Commitments as specified in such Notice
of Assignment and Acceptance, such Eligible Assignee shall be deemed a Bank
hereunder to the same extent as if it were a signatory hereto and, thereafter,
such Eligible Assignee shall for all purposes be considered a "Bank" hereunder.
                                                               ----
Administrative Agent shall be entitled to a $2,500 processing fee, payable by
the assignor, with respect to any such assignment by a Bank.

     (b) Subject to Section 11.16, Borrower authorizes each Bank and each
Arranger to disclose to any prospective assignee and assignee any and all
information in such Bank's or such Arranger's possession concerning Borrower,
this Agreement and any collateral.

     (c) Notwithstanding anything to the contrary contained herein, any Bank (a
"Granting Bank") may grant to a special purpose funding vehicle (an "SPC"),
 -------------                                                       ---
identified as such in writing from time to time by the Granting Bank to
Administrative Agent and Borrower, the option to provide to Borrower all or any
part of any Loan Obligations that such Granting Bank would otherwise be
obligated to make to the Borrower pursuant to this Agreement; provided that (i)
                                                              --------
nothing herein shall constitute a commitment by any SPC to make any Extension of
Credit, (ii) if an SPC elects not to exercise such option or otherwise fails to
provide all or any part of such Extension of Credit, the Granting Bank shall be
obligated to make such Extension of Credit pursuant to the terms hereof. The
making of an Extension of Credit by an SPC hereunder shall utilize the
Commitment of the Granting Bank to the same extent, and as if, such Extension of
Credit were made by such Granting Bank. Each party hereto hereby agrees that no
SPC shall be liable for any indemnity or similar payment obligation under this
Agreement (all liability for which shall remain with the Granting Bank). In
furtherance of the foregoing, each party hereto hereby agrees (which agreement
shall survive the termination of this Agreement) that, prior to the date that is
one year and one day after the payment in full of all outstanding commercial
paper or other senior indebtedness of any SPC, it will not institute against, or
join any other person in instituting against, such SPC any bankruptcy,
reorganization, arrangement, insolvency

                                       60

<PAGE>

or liquidation proceedings under the laws of the United States or any state
thereof. In addition, notwithstanding anything to the contrary contained in this
Section, any SPC may (i) with notice to, but without the prior written consent
of, Borrower and Administrative Agent and without paying any processing fee
therefor, assign all or a portion of its interests in any Loans to the Granting
Bank or to any financial institutions (consented to by Borrower and
Administrative Agent) providing liquidity and/or credit support to or for the
account of such SPC to support the funding or maintenance of the Loan
Obligations and (ii) subject to the provisions of Section 11.16 hereof, disclose
on a confidential basis any non-public information relating to its Loan
Obligations to any rating agency, commercial paper dealer or provider of any
surety, guarantee or credit or liquidity enhancement to such SPC. This section
may not be amended without the written consent of the SPC.

     11.12 Obligations Several. The obligations of each Bank under this
           -------------------
Agreement are several. Neither Administrative Agent nor any Bank shall be liable
for the failure of any other Bank to perform its obligations under this
Agreement.

     11.13 Participations. Any Bank may at any time sell, or grant
           --------------
participations in all or part of its Commitments or any Loan or Loans made to
Borrower under this Agreement to any other Person, other than an individual (a
"Participant"); provided, however, no Bank may be relieved of its obligations
 -----------
under this Agreement except with the consent of Borrower and Administrative
Agent. Any such sale or grant of a participation is subject to the following
conditions:

     (a) Administrative Agent and Borrower may, for all purposes of this
Agreement, deem and treat a Bank party to this Agreement as the owner of such
Bank's Loans hereunder for all purposes hereof until a written notice of the
sale or participation shall have been received by Administrative Agent, together
with Borrower's consent to treat such Participant as owner of such Loan.

     (b) Subject to Section 11.16, Borrower authorizes each Bank and the
Administrative Agent to disclose to any prospective Participant and to any
Participant any and all information in such Bank's or the Administrative Agent's
possession concerning Borrower, this Agreement and any collateral.

     (c) Any agreement pursuant to which a Bank grants a participation in its
rights with respect to any Loan or Loans shall provide that, with respect to any
such Loan or Loans, such Bank shall retain the sole right and responsibility to
exercise the rights of a Bank under this Agreement including, without
limitation, the right to approve any amendment, modification or waiver of any
provision of this Agreement and the right to take action to declare any amount
due and payable pursuant to Section 9; provided that such participation
agreement may provide that such Bank will not agree to any modification,
amendment or waiver of this Agreement without the consent of the Participant if
such modification, amendment or waiver would (i) increase the amount of the
Total Commitments or change the Commitments of such Bank, (ii) reduce interest,
principal or fees owing to such Bank hereunder, (iii) extend the fixed date on
which any sum is due hereunder, or (iv) release or subordinate any collateral.

                                       61

<PAGE>

     (d) Except as provided in this Section 11.13, no recipient of a
participation in a Loan or Loans of any Bank shall have any rights under this
Agreement other than to receive payment of principal of, and interest on the
Loans and of such other amounts as Banks are entitled to receive pursuant to
Sections 3.1, 3.2, 3.3, and 3.4 of this Agreement and subject to the
Intercreditor Agreements; provided, however such recipients shall be entitled to
receive pursuant to Sections 3.1, 3.2 and 3.3 only the lesser of (i) the amount
that the Bank from which the recipient received its participation would have
received had such Bank not transferred an interest in its Loans to such
recipient and (ii) the additional costs actually incurred by such recipient; and
any demand by a Participant for payment hereunder shall certify that the amount
demanded does not exceed the amount Participant is entitled to receive under
this subsection (d).

     (e) Notwithstanding any other provision set forth in this Agreement, any
Bank may at any time create a security interest in all or any portion of its
rights under this Agreement (including, without limitation, the Loans owing to
it) in favor of any Federal Reserve Bank in accordance with Regulation A of the
Board of Governors of the Federal Reserve System.

     11.14 Fees and Expenses. Borrower agrees to pay on demand (a) to
           -----------------
Administrative Agent all reasonable costs, expenses and attorneys' fees
(including allocated costs for in-house legal services) incurred by
Administrative Agent in connection with the preparation and administration of
this Agreement and any documents including any amendments, waivers, or other
modifications and (b) all reasonable costs, expenses and attorneys' fees
(including allocated costs for in-house legal services) incurred by
Administrative Agent and Banks in connection with the enforcement of this
Agreement and any instrument or agreement required hereunder and in connection
with any refinancing or restructuring of the Loans in the nature of a
"work-out"; provided, however that, in addition to costs of Administrative
 --------
Agent's in-house counsel, Borrower shall be obligated to pay for the costs of no
more than one counsel for Administrative Agent and all Banks (without prejudice
to any Bank's right to engage additional counsel at its own cost and expense)
unless any Bank shall in good faith reasonably determine that there is a
conflict of interest that causes it to be reasonably necessary for such Bank to
be represented by separate counsel.

     11.15 Indemnity. Borrower agrees to indemnify the Administrative Agent,
           ---------
each Arranger, each Bank and their respective directors, officers, agents and
employees (collectively, the "Indemnitees") from and hold each of them harmless
                              -----------
against any and all losses, liabilities, claims, damages or expenses reasonably
incurred by any of them arising out of or by reason of any investigation by
governmental or judicial authorities or being made a party to any litigation or
other similar proceeding related to any use made or proposed to be made by
Borrower of the proceeds of any Loan for the acquisition of any other Person
including, without limitation, the reasonable fees and disbursements of counsel
(including allocated costs for in-house legal services) incurred in connection
with any such investigation, litigation or other proceeding; provided, however,
                                                             --------  -------
that Borrower shall have no obligation to indemnify or pay for the costs and
expenses of more than one counsel for the Indemnitees, unless any Indemnitee
shall in good faith reasonably determine that there is a conflict of interest
that causes it to be reasonably necessary for any Indemnitees to be represented
by other counsel. Counsel chosen to represent any Indemnitee pursuant to the
previous sentence shall be reasonably satisfactory to Borrower. The obligations
of Borrower under this Section shall survive the termination of this Agreement.

                                       62

<PAGE>

     11.16 Confidentiality. In consideration of Borrower furnishing Confidential
           ---------------
Information (as defined below) to the Banks, the Arrangers and the
Administrative Agent (collectively, the "Recipients") and their respective
                                         ----------
directors, officers and employees (collectively, the "Representatives"), each
                                                      ---------------
Recipient agrees for itself that:

     (a) Such Recipient shall keep the Confidential Information confidential and
shall not, without Borrower's prior written consent, disclose it in any manner
whatsoever, in whole or in part, and shall not use the Confidential Information
other than in connection with this Agreement. Each Recipient agrees to reveal
the Confidential Information only to its Representatives, bank affiliates,
auditors, counsel and other advisors, representatives or agents who need to know
the Confidential Information for the purpose of this Agreement, who are informed
by such Recipient of the confidential nature of the Confidential Information and
who shall agree to act in accordance with the terms and conditions of this
section. Each Recipient shall be responsible for any breach of this Section by
its Representatives.

     (b) Without Borrower's prior written consent, no Recipient shall disclose
to any Person the fact that the Confidential Information has been made
available, that such Recipient is entering into this Agreement, or any other
facts with respect to this Agreement.

     (c) Upon payment in full of all obligations owing to a Recipient and
termination of such Recipient's Commitments, if any, hereunder, copies of the
Confidential Information shall be returned to Borrower immediately upon its
request, except for that portion of the information which consists of analyses,
compilations, forecasts, studies or other documents prepared by a Recipient or
its Representatives based on Confidential Information, which portion shall
either be destroyed (as evidenced by a certificate of destruction signed by a
duly authorized offer of such Recipient) or held by such Recipient and kept
confidential and subject to the terms of this section; provided that such
                                                       --------
Recipient shall not be required to return or destroy Confidential Information to
the extent such Recipient reasonably determines that its retention of such
Confidential Information is required by applicable law or regulation. Any oral
Confidential Information shall continue to be subject to the terms of this
Section.

     (d) Confidential Information shall not include such portions of the
information furnished to a Recipient which (i) are or become generally available
to the public other than as a result of a disclosure by such Recipient or its
Representatives in violation of this Agreement, (ii) become available to such
Recipient on a non-confidential basis from a source (other than Borrower or its
Representatives) which is not known by such Recipient to be prohibited from
disclosing such information to such Recipient, or (iii) were in such Recipient's
possession prior to being furnished to such Recipient or its Representatives
provided that the source of such information was not known by such Recipient to
be prohibited from disclosing the information to such Recipient.

     (e) Except as otherwise expressly set forth in this Agreement, each
Recipient acknowledges that neither Borrower nor any of its Representatives
makes any express or implied representation or warranty as to the accuracy or
completeness of the information furnished to such Recipient, and that neither
Borrower nor any of its Representatives shall have any liability

                                       63

<PAGE>

resulting from the use of the information furnished to any Recipient, errors
therein or omissions therefrom.

     (f) In the event any Recipient or any person to whom it transmits the
Confidential Information pursuant to this Agreement becomes legally compelled to
disclose any of the information, such Recipient shall, to the extent permitted
by law, provide Borrower with prompt written notice thereof so that the Borrower
may seek a protective order or other appropriate remedy and/or waiver such
Recipient's compliance with the provisions of this section, In the event that
such protective order or other remedy is not obtained, or that Borrower waives
any Recipient's compliance with the provisions of this section, such Recipient
may furnish only that portion of the Confidential Information which it is
advised by written opinion of counsel that the disclosure thereof is legally
required, and shall exercise its best efforts to obtain reliable assurance that
confidential treatment will be accorded the Confidential Information so
disclosed.

     (g) Notwithstanding the foregoing, a Recipient may (i) disclose any
Confidential Information to bank examiners; (ii) use any Confidential
Information in connection with the management, supervision and enforcement of
this Agreement, including the enforcement of such Recipient's rights under any
agreement executed in connection therewith; (iii) disclose any Confidential
Information in connection with any litigation or dispute involving any such
Person or the Borrower and related to this Agreement or to any use of proceeds
of the Loans; (iv) disclose any Confidential Information to other Recipients;
and (v) disclose Confidential Information to prospective assignees and
Participants and assignees and Participants pursuant to Sections 3.8, 11.11(b)
and 11.13(b); provided, further, that in each of the foregoing cases, such
Person shall use its best efforts to ensure that any such disclosure will be
made under procedures reasonably calculated to maintain the confidentiality of
such Confidential Information.

     For purposes of this Section, "Confidential Information" means information
                                    ------------------------
relating to the business, operation or technology of Borrower or its affiliates
which Borrower has furnished to the Banks, the Arrangers, the Administrative
Agent, or their Representatives which is either non-public, confidential or
proprietary in nature, together with copies and other reproductions thereof, and
analyses, compilations, forecasts, studies or other documents prepared by any
Banks or its Representatives which contain or otherwise reflect such
information.

This section shall survive termination of the Agreement.

     11.17 [Intentionally Omitted.]

     11.18 Waiver of Right to Trial by Jury. EACH PARTY TO THIS AGREEMENT HEREBY
           --------------------------------
EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR
TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED

                                       64

<PAGE>

BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN
EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT
TO TRIAL BY JURY.

                  [remainder of page intentionally left blank]

                                       65

<PAGE>

     IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto
in New York, New York as of the date first hereinabove written.

                                    HUGHES ELECTRONICS
                                    CORPORATION

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

                                    BANK OF AMERICA, N.A., as
                                    Administrative Agent

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

                                    MORGAN GUARANTY TRUST
                                    COMPANY OF NEW YORK, as
                                    Syndication Agent and a Bank

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

                                    CITICORP USA, INC., as Documentation
                                    Agent and a Bank

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

                                    THE CHASE MANHATTAN BANK, as
                                    Documentation Agent and a Bank

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

                                    BANK OF AMERICA, N.A., as a Bank

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

<PAGE>

                                    BANKERS TRUST COMPANY

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

                                    CREDIT SUISSE FIRST BOSTON

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

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

                                    THE LONG-TERM CREDIT BANK OF
                                    JAPAN, LTD., LOS ANGELES AGENCY

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

                                    THE MITSUBISHI TRUST & BANKING
                                    CORPORATION, NEW YORK BRANCH

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

                                    NATIONSBANK OF TEXAS, N.A.

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

                                    TORONTO-DOMINION (TEXAS), INC.

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

                                    BANCA DI ROMA - SAN FRANCISCO
                                    BRANCH

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

<PAGE>

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

                                    THE BANK OF NEW YORK

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

                                    CIBC INC.

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

                                    CREDIT LYONNAIS NEW YORK BRANCH

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

                                    DEUTSCHE BANK AG NEW YORK
                                    AND/OR CAYMAN ISLANDS
                                    BRANCHES

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

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

                                    BANK ONE, N.A.

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

                                    ALLFIRST BANK

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

<PAGE>

                                    THE FUJI BANK, LIMITED LOS ANGELES
                                    AGENCY

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

                                    THE INDUSTRIAL BANK OF JAPAN,
                                    LIMITED LOS ANGELES AGENCY

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

                                    ISTITUTO BANCARIO SAN
                                    PAOLO DI TORINO SpA

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

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

                                    UNION BANK OF CALIFORNIA, N.A.

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

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