Document:

Word 8.0 Generic Normal Template, rev. 4/1/97, The Legal MacPac

Exhibit

10.9

 

AMENDED

AND RESTATED SECURED PROMISSORY NOTE

 

	

  $150,000.00

  	

   

  	

  May 14, 2002

  
	

   

  	

   

  	

  Santa Clara,

  California

  

 

RECITAL

This Amended and Restated Secured

Promissory Note

dated as of May 14, 2002 (“Note”), is entered into by and between First Virtual Communications, Inc.,  a Delaware corporation (the “Lender”), and Killko Caballero, an employee of the

Lender (the “Borrower”).

 

The Lender and the Borrower entered into a promissory

note, dated August 14, 2001, in the original principal amount of Two

Hundred Fifty Thousand and No/100 Dollars ($250,000.00) (the “Original Note”).  Pursuant to the terms of the Original Note,

Borrower paid One Hundred Thousand and No/100 Dollars ($100,000.00) of the

principal of the Original Note in connection with the sale of certain real

property owned by Borrower.  The Lender

and the Borrower desire to amend and to restate the Original Note to reflect

this payment by Borrower, in accordance with the terms set forth below.

 

AGREEMENT

1.             For

Value Received, the Borrower hereby unconditionally promises to pay to the order of

Lender, in lawful money of the United States of America and in immediately

available funds, the principal amount of One Hundred Fifty Thousand and No/100

Dollars ($150,000.00), interest-free (the “Loan”), due and payable on the dates and in the manner

set forth below.

2.             Security.  This Secured Promissory Note (the “Note”) is secured by

the “Pledged Collateral” identified and described as security therefor in the

Stock Pledge Agreement (the “Stock Pledge Agreement”), dated August 14, 2001,

executed by Borrower in favor of Lender.

3.             Principal

Repayment.

(a)           Maturity Date.  The entire outstanding principal balance of the Loan

shall be due and payable immediately in full on the Maturity Date (as defined

below), which for purposes of this Note, shall be the earliest to occur of:

(i)            August 14, 2006;

(ii)           Ninety (90) days after either the resignation by

Borrower of its employment with Lender, or the termination of Borrower’s

employment for Cause (as defined below);

 

 

(iii)         Immediately upon the insolvency of Borrower,

including, but not limited to, a bankruptcy or insolvency proceeding having

been instituted by or against Borrower, or a receiver being appointed for the

Property (defined below), or if Borrower makes an assignment for the benefit of

creditors (collectively, the “Maturity Date”).

(b)           Cause.  For purposes

of this Note, “Cause” shall mean (i) gross negligence or willful misconduct

in connection with the performance of Borrower’s duties to Lender which in the

written determination of a majority of the Board of Directors of Lender (the “Board”) has not been

cured within thirty (30) days following receipt by Borrower of written notice

from the Board identifying such acts of gross negligence or willful misconduct;

(ii) commission of a felony which in the written determination of a

majority of the Board has caused material injury to Lender’s business, or

intentionally fraudulent or other acts against the Lender, CUseeMe Networks,

Inc., a Delaware Corporation (“CUseeMe”), or their affiliates, employees, agents or

customers which demonstrates Borrower’s untrustworthiness or lack of integrity;

(iii) dishonesty relating to Lender’s business and intended to result in

personal enrichment of Borrower or his family at the expense of the Lender;

(iv) material breach by Borrower of that certain Employment and

Non-Competition Agreement dated March 22, 2001 (the “Employment Agreement”) or of any agreement

by and between Borrower and Lender, which material breach has not been cured

within thirty (30) days following receipt by Borrower of written notice from

the Board identifying such willful material breach; or (v) Borrower

engaging or in any manner participating in any activity which is directly

competitive with or intentionally injurious to Lender or CUseeMe or their

affiliates or which violates any material provision of Section 7 of the

Employment Agreement.

4.             Payments. 

Any payment due hereunder shall be paid to Lender at the address set

forth in Section 7 below, or at such other place as Lender may designate.  Any and all amounts payable hereunder will

be due and payable without set-off, deduction, or counter-claim.

5.             Prepayment. 

Borrower may prepay the unpaid principal of this Note in whole or in

part, without penalty, at any time.

6.             Default

and Remedies.

(a)           Default. 

Each of the following events shall be deemed an “Event of Default” hereunder:

(i)            Borrower fails to pay timely any of the principal

amount due under this Note on the date the same becomes due and payable;

(ii)           The breach by Borrower of any other covenant or

agreement under this Note;

(iii)         The default by Borrower of his obligations under the

Stock Pledge Agreement or any other instrument evidencing or securing this

Note;

1

 

(iv)          The death of Borrower, but only if Borrower’s personal

representative fails to pay all outstanding obligations under this Note within

ninety (90) days thereof; or

(v)            The appointment of a receiver for any part of the

Property of, or an assignment for the benefit of creditors by, or the

commencement of any proceedings under any bankruptcy or insolvency laws by or

against Borrower.

(b)           Remedies. 

Upon the occurrence of an Event of Default hereunder, Lender may, with

notice to Borrower, declare the entire principal amount of this Note and any

amounts due thereon due and payable within ninety (90) days of such Event of

Default, and exercise any and all of the remedies provided under the Stock

Pledge Agreement or at law or in equity.

7.             Notice.  All notices or other communications required or given hereunder

shall be in writing and shall be deemed effectively given when presented

personally or on the date of receipt (or refusal of delivery) if sent by overnight

courier service or U.S. Mail (certified or registered, postage prepaid, return

receipt requested) to the parties at the addresses given below or such other

addresses as the parties may hereafter designate in writing.  The date shown on the courier’s confirmation

of delivery or return receipt shall be conclusive as to the date of receipt.

	

   

  	

  Borrower:

  	

   

  	

  Killko

  Caballero

  
	

   

  	

   

  	

  22451 Citation

  Drive

  
	

   

  	

   

  	

  Los Gatos,

  CA  95033

  
	

   

  	

   

  	

   

  
	

   

  	

  Lender:

  	

   

  	

  First

  Virtual Communications, Inc.

  
	

   

  	

   

  	

  3393 Octavius

  Drive

  
	

   

  	

   

  	

  Santa Clara,

  CA  95054

  
	

   

  	

   

  	

  Attn:  Chief Financial Officer

  

 

 

8.             Termination of Original Note. 

Borrower and Lender hereby agree that the Original Note is terminated

and replaced, in its entirety, by this Note.

9.             Waiver. 

Borrower waives diligence, presentment, protest and demand and also

notice of protest, demand, dishonor, acceleration, intent to accelerate, and

nonpayment of this Note, and shall pay all costs of collection when incurred,

including, without limitation, reasonable attorneys’ fees, costs and other

expenses.  The right to plead any and

all statutes of limitations as a defense to any demands hereunder is hereby

waived to the full extent permitted by law.

10.          Non-Transferable. 

The right of Borrower to request and receive the Loan hereunder, as well

as the other benefits under this Note, shall not be assignable or otherwise

transferable by Borrower.

 

2

 

11.          Miscellaneous.

(a)           Costs.  Borrower

shall pay all costs, including, without limitation, reasonable attorneys’ fees

and expenses incurred by Lender in collecting the sums due hereunder or in

connection with the release of any security for this Note.

(b)           Modification.  This Note may be modified only by a written agreement

executed by Borrower and Lender.

(c)           Successors and Assigns. 

The terms of this Note shall inure to the benefit of and bind Borrower

and Lender and their respective heirs, legal representatives and successors and

assigns.

(d)           Time.  Time

is of the essence with respect to all matters set forth in this Note.

(e)           Destroyed Note.  If this Note is destroyed, lost or stolen, Borrower

will deliver a new note to Lender on the same terms and conditions as this Note

with a notation of the unpaid principal in substitution of the prior Note.  Lender shall furnish to Borrower reasonable

evidence that the Note was destroyed, lost or stolen and any security or

indemnity that may be reasonably required by Borrower in connection with the

replacement of this Note.

(f)            Severability.  If any provision of this Note shall be held to be

invalid or unenforceable, such determination shall not affect the remaining

provisions of this Note.

(g)           Joint and Several Liability.  If this Note is now, or hereinafter shall be, signed

by more than one party or person, it shall be the joint and several obligation

of such parties or persons and shall be binding upon such parties and upon

their respective successors and assigns.

(h)           Attorney’s Fees.  In the event of any litigation concerning this Note,

the Prevailing Party shall be entitled to a reasonable sum for attorneys’ fees,

costs, and litigation expenses, whether or not such action is prosecuted to

judgment.  “Prevailing Party” shall mean, without

limitation, a party who agrees to dismiss an action upon payment by the other

party of sums allegedly due or performance of the covenants allegedly breached,

or who obtains substantially the relief sought by that party.  In the event that Lender is the Prevailing

Party, Lender shall also be entitled to reasonable costs associated with the collection

of the Loan.

12.          Governing

Law.  This Note shall be governed by, and construed

and enforced in accordance with, the laws of the State of California, excluding

conflict of laws principles that would cause the application of laws of any

other jurisdiction.

 

3

In Witness Whereof, Borrower has executed this Amended and

Restated Secured Promissory Note as of the date first above written.

	

   

  	

   

  	

  BORROWER:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  /s/ Killko

  Caballero

  
	

   

  	

   

  	

  Killko

  Caballero

  
	

   

  	

   

  	

   

  
	

  Accepted and Agreed to:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  LENDER:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Timothy A. Rogers

  	

   

  	 

	

  Name:

  	

  Timothy A. Rogers

  	

   

  	

   

  
	

  Title:

  	

  Chief Financial

  Officer,

  Senior Vice President of Finance

  and Treasurer

  	

   

  	

   

  

 

 

4

 

STOCK PLEDGE AGREEMENT

THIS STOCK PLEDGE AGREEMENT (the “Pledge Agreement”), effective as of August

14, 2001, is made by KILLKO CABALLERO,

an individual, with a residence at 22451

Citation Drive, Los Gatos, California 

95033 (“Pledgor”), in favor of FIRST VIRTUAL

COMMUNICATIONS, INC., INC., a Delaware corporation, with its

principal place of business at 3393 Octavius Drive, Santa Clara,

California  95054 (“Pledgee”).

RECITAL

WHEREAS, Pledgor has concurrently herewith

executed that certain Secured Promissory Note (the “Note”), dated of even date herewith, in favor

of Pledgee in the amount of Two Hundred Fifty Thousand and No/100 Dollars

($250,000.00); and

WHEREAS, Pledgee is willing to accept the Note

from Pledgor, but only upon the condition, among others, that Pledgor shall

have executed and delivered to Pledgee this Pledge Agreement and the Pledged

Collateral (as defined below);

NOW, THEREFORE, in consideration of the foregoing

recitals and for other good and valuable consideration, the receipt and

adequacy of which are hereby acknowledged, and intending to be legally bound,

Pledgor hereby agrees as follows:

AGREEMENT

1.             As security for the full, prompt and complete payment

and performance when due (whether by stated maturity, by acceleration or

otherwise) of all indebtedness of Pledgor to Pledgee created under the Note,

together with, without limitation, the prompt payment of all expenses,

including, without limitation, reasonable attorneys’ fees and legal expenses,

incidental to the collection of the foregoing and the enforcement or protection

of Pledgee’s lien in and to the collateral pledged hereunder (all such

indebtedness being the “Liabilities”), Pledgor hereby pledges to Pledgee, and

grants to Pledgee, a first priority security interest in all of the following

(collectively, the “Pledged Collateral”):

(a)           Two Hundred Fifty Thousand (250,000) shares of Common

Stock of Pledgee owned by Pledgor (the “Pledged Shares”), and all dividends, cash, instruments

and other property or proceeds from time to time received, receivable or

otherwise distributed in respect of or in exchange for any or all of the

Pledged Shares; and

(b)           all voting trust certificates held by Pledgor

evidencing the right to vote any Pledged Shares subject to any voting trust,

Pledgor agrees to deliver

to Pledgee the stock certificates representing said Pledged Shares along with

an executed but otherwise blank Assignment Separate From Certificate in the

form attached hereto as Exhibit A.

 

5

 

The term “indebtedness”

is used herein in its most comprehensive sense and includes any and all

advances, debts, obligations and liabilities heretofore, now or hereafter made,

incurred or created, whether voluntary, or involuntary, and whether due or not

due, absolute or contingent, liquidated or unliquidated, determined or

undetermined, and whether recovery upon such indebtedness may be or hereafter

becomes unenforceable.

2.             Pledgor hereby represents and warrants to Pledgee as

follows:

(a)           Pledgor is, at the time of delivery of the Pledged

Shares to Pledgee hereunder, and at all times which this Pledge Agreement is in

effect shall be, the sole holder of record and the sole beneficial owner of the

Pledged Collateral, free and clear of any lien thereon or affecting title

thereto, except for the lien created by this Pledge Agreement.

(b)           None of the Pledged Shares have been transferred in

violation of securities registration, securities disclosure or similar laws of

any jurisdiction to which such transfer may be subject with respect to which

such transfer could have a material adverse effect.

(c)           No consent, approval, authorization or other order of

any person and no consent or authorization of any governmental authority or

regulatory body is required to be made or obtained by Pledgor either (i) for

the pledge by Pledgor of the Pledged Collateral pursuant to this Pledge

Agreement or for the execution, delivery, or performance of this Pledge

Agreement by Pledgor; or (ii) for the exercise by Pledgee of the voting or

other rights provided for in this Pledge Agreement or the remedies in respect

of the Pledged Collateral pursuant to this Pledge Agreement, except as may be

required in connection with such disposition by laws affecting thc offering and

sale of securities generally.

(d)           The pledge, grant of a security interest in, and

delivery of the Pledged Collateral pursuant to this Pledge Agreement, will

create a valid first priority lien on and in the collateral pledged by Pledgor,

and the proceeds thereof, securing the payment of the Liabilities.

(e)           This Pledge Agreement has been duly executed and

delivered by Pledgor and constitutes a legal, valid, and binding obligation of

Pledgor enforceable in accordance with its terms, except as enforceability may

be limited by bankruptcy, insolvency, or other similar laws affecting the rights

of creditors generally or by the application of general equity principles.

(f)            Pledgor covenants, warrants, and represents to Pledgee

that all representations and warranties contained in this Pledge Agreement

shall be true at the time of Pledgor’s execution of this Pledge Agreement, and

shall continue to be true until the Liabilities have been paid or otherwise

satisfied in full.

3.             Upon prior notice to Pledgor, Pledgee in its name or

in the name of its nominee or of Pledgor may, but shall not be obligated

to:  (a) collect by legal proceedings or

otherwise all dividends (except cash dividends other than liquidating

dividends), interest, principal payments and other sums now or hereafter

payable upon or on account of said Pledged Collateral; (b) enter into any

extension, reorganization, deposit, merger or consolidation agreement, or any

agreement in any way relating to or affecting the Pledged Collateral, and in

connection therewith may 

 

6

 

deposit or surrender

control of such Pledged Collateral thereunder, accept other property in

exchange for such Pledged Collateral and do and perform such acts and things as

it may deem proper, and any money or property received in exchange for such

Pledged Collateral shall be applied to the indebtedness or thereafter held by

it pursuant to the provisions hereof; (c) insure, process and preserve the

Pledged Collateral; (d) cause the Pledged Collateral to be transferred to its

name or to the name of its nominee; and (e) exercise as to such Pledged

Collateral all the rights, powers and remedies of an owner, except that so long

as no “Event of Default” (as defined in the Note), exists under the Note and no

default exists hereunder Pledgee shall not exercise its rights under subsections

(d) and (e) or this paragraph 3 and Pledgor shall retain all voting rights as

to the Pledged Shares.

4.             Pledgor agrees to pay prior to delinquency all taxes,

charges, liens and assessments against the Pledged Collateral, and upon the

failure of Pledgor to do so, Pledgee at its option may pay any of them and

shall be the sole judge of the legality or validity thereof and the amount

necessary to discharge the same.

5.             Pledgor agrees that Pledgor:

(a)           may sell, transfer or otherwise dispose of, or grant

an option or warrant with respect to, all or a portion of the Pledged

Collateral so long as the proceeds therefrom are used first to pay any

outstanding Liabilities.  If any Pledged

Collateral, or any part thereof, is sold, transferred or otherwise disposed of

as allowed in this Section 5, the security interest of Pledgee shall continue

in the Pledged Collateral notwithstanding such sale, transfer or other

disposition, and the Pledgor will deliver any proceeds thereof to the Pledgee

to be held as Pledged Collateral hereunder;

(b)           will not create or permit to exist any lien or

encumbrance upon or with respect to any of the Pledged Collateral;

(c)           shall, at Pledgor’s own expense, promptly execute,

acknowledge, and deliver all such instruments and take all such actions as

Pledgee from time to time may reasonably request in order to ensure to Pledgee

the benefits of the lien in and to the Pledged Collateral intended to be

created by this Pledge Agreement; and

(d)           shall maintain, preserve and defend the title to the

Pledged Collateral and the lien of Pledgee thereon against the claim of any

other person.

6.             At the option of Pledgee and without necessity of

demand or notice, all or any part of the indebtedness of Pledgor shall become

due and payable irrespective of any agreed maturity, within ninety (90) days of

the happening of any of the following events: (a) failure to keep or perform

any of the terms or provisions of this Pledge Agreement; (b) the occurrence of

an “Event of Default” under the Note; or (c) the levy of any attachment,

execution or other process against the Pledged Collateral.

7.             All advances, charges, costs and expenses, including

reasonable attorneys’ fees, incurred or paid by Pledgee in connection with an

“Event of Default” under the Note or the levy 

 

7

 

of any attachment,

execution or other process against the Pledged Collateral shall become a part

of the indebtedness secured hereunder and shall be paid to Pledgee by the

undersigned within ninety (90) days of receipt of Pledgee’s request therefor.

8.             In the event of the nonpayment of any indebtedness

within ninety (90) days of the due date thereof, whether by acceleration or

otherwise, or within ninety (90) days of the happening of any of the events

specified in Section 6 above, Pledgee may then, or at any time thereafter, at

its election, apply, set off, collect or sell in one or more sales, or take

such steps as may be necessary to liquidate and reduce to cash in the hands of

Pledgee in whole or in part, with or without any previous demands or demand of

performance or notice or advertisement, the whole or any part of the Pledged

Collateral in such order as Pledgee may elect, and any such sale may be made

either at public or private sale at its place of business or elsewhere, or at

any broker’s board or securities exchange, either for cash or upon credit or

for future delivery; provided, however, that if such disposition is at private

sale, then the purchase price of the Pledged Collateral shall be equal to the

public market price then in effect, or, if at the time of sale no public market

for the Pledged Collateral exists, then, in recognition of the fact that the

sale of the Pledged Collateral would have to be registered under the Securities

Act of 1933 and that the expenses of such registration are commercially

unreasonable for the type and amount of collateral pledged hereunder, Pledgee

and Pledgor hereby agree that such private sale shall be at a purchase price

mutually agreed to by Pledgee and Pledgor or, if the parties cannot agree upon

a purchase price, then at a purchase price established by a majority of three

independent appraisers knowledgeable of the value of such collateral, one named

by Pledgor within ten (10) days after written request by the Pledgee to do so,

one named by Pledgee within such ten (10) day period, and the third named by

the two appraisers so selected, with the appraisal to be rendered by such body

within thirty (30) days after the appointment of the third appraiser.  The cost of such appraisal, including all

appraisers’ fees, shall be charged against the proceeds of sale as an expense

of such sale.  Pledgee may be the

purchaser of any or all Pledged Collateral so sold and hold the same thereafter

in its own right free from any claim of Pledgor or right of redemption.  Demands of performance, notices of sale,

advertisements and presence of property at sale are hereby waived, and Pledgee

is hereby authorized to sell hereunder any evidence of debt pledged to it.  Any sale hereunder may be conducted by any

officer or agent of Pledgee.

9.             The proceeds of the sale of any of the Pledged

Collateral and all sums received or collected by Pledgee from or on account of

such Pledged Collateral shall be applied by Pledgee to the payment of expenses

incurred or paid by Pledgee in connection with any sale, transfer or delivery

of the Pledged Collateral, to the payment of any other costs, charges,

attorneys’ fees or expenses mentioned herein, and to the payment of the

indebtedness or any part hereof, all in such order and manner as Pledgee in its

discretion may determine.  Pledgee shall

then pay any balance to Pledgor.

10.          Upon the transfer of all or any part of the

indebtedness Pledgee may transfer all or any part of the Pledged Collateral and

shall be fully discharged thereafter from all liability and responsibility with

respect to such Pledged Collateral so transferred, and the transferee shall be

vested with all the rights and powers of Pledgee hereunder with respect to such

Pledged 

 

8

 

Collateral so

transferred; but with respect to any Pledged Collateral not so transferred

Pledgee shall retain all rights and powers hereby given.

11.          Until all indebtedness shall have been paid in full

the power of sale and all other rights, powers and remedies granted to Pledgee

hereunder shall continue to exist and may be exercised by Pledgee at any time

and from time to time irrespective of the fact that the indebtedness or any

part thereof may have become barred by any statute of limitations, or that the

personal liability of Pledgor may have ceased.

12.          Pledgee may at any time deliver the Pledged Collateral

or any part thereof to Pledgor and the receipt thereof by Pledgor shall be a

complete and full acquittance for the Pledged Collateral so delivered, and

Pledgee shall thereafter be discharged from any liability or responsibility

therefor.

13.          The rights, powers and remedies given to Pledgee by

this Pledge Agreement shall be in addition to all rights, powers and remedies

given to Pledgee by virtue of any statute or rule of law.  Any forbearance, failure or delay by Pledgee

in exercising any right, power or remedy hereunder shall not be deemed to be a

waiver of such right, power or remedy, and any single or partial exercise of

any right, power or remedy hereunder shall not preclude the further exercise

thereof, and every right, power and remedy of Pledgee shall continue in full

force and effect until such right, power or remedy is specifically waived by an

instrument in writing executed by Pledgee.

14.          If any provision of this Pledge Agreement is held to

be unenforceable for any reason, it shall be adjusted, if possible, rather than

voided in order to achieve the intent of the parties to the extent

possible.  In any event, all other

provisions of this Pledge Agreement shall be deemed valid and enforceable to

the full extent possible.

15.          This Pledge Agreement shall be governed by, and

construed in accordance with, the laws of the State of California as applied to

contracts made and performed entirely within the State of California by

residents of such State.

16.          All notices or other communications required or given

hereunder shall be in writing and shall be deemed effectively given when

presented personally or on the date of receipt (or refusal of delivery) if sent

by overnight courier service or U.S. Mail (certified or registered, postage

prepaid, return receipt requested) to the parties at the addresses given below

or such other addresses as the parties may hereafter designate in writing.  The date shown on the courier’s confirmation

of delivery or return receipt shall be conclusive as to the date of receipt.

	

  Borrower:

  	

  KILLKO

  CABALLERO

  	

   

  	

   

  
	

   

  	

  22451

  Citation Drive

  	

   

  	

   

  
	

   

  	

  Los Gatos, CA  95033

  	

   

  	

   

  

 

 

9

 

	

  Lender:

  	

  FIRST

  VIRTUAL COMMUNICATIONS, INC.

  	

   

  	

   

  
	

   

  	

  3393 Octavius

  Drive

  	

   

  	

   

  
	

   

  	

  Santa Clara,

  CA  95054

  	

   

  	

   

  
	

   

  	

  Attn:  Chief Financial Officer

  	

   

  	

   

  

 

17.          Exhibit A

is attached

hereto and incorporated herein by this reference.

IN WITNESS WHEREOF, Pledgor has executed this Pledge

Agreement effective as of the date and year first above written.

	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  PLEDGOR:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  /s/ Kilko Caballero

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  KILLKO CABALLERO

  	

   

  	

   

  

 

10

 

Exhibit A

 

ASSIGNMENT

SEPARATE FROM CERTIFICATE

 

 

                KILLKO CABALLERO hereby sells, assigns and transfers

unto                           

                           a

total of

                           

(       ) shares of

the       

             

stock of FIRST VIRTUAL COMMUNICATIONS, INC., standing

in the undersigned’s name on the books of said corporation represented by

Certificate

Nos.              

delivered herewith and does hereby irrevocably constitute and appoint                            

to transfer said stock on the books of said corporation with full power of

substitution.

 

	

  Dated:

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

  KILLKO CABALLERO

  

 

11S&S DRAFT

Exhibit

(10)(i)(1.1)

 

LETTER

AMENDMENT AND WAIVER NO.  1

 

Dated as of May 17, 2000

To the banks,

financial institutions and other

institutional lenders (collectively, the “Lenders”)

parties to the Credit Agreement referred to

below and Bank of America, N.A., as

syndication agent, Credit

Suisse First Boston

(“CSFB”) and The Bank of New York (“BNY”),

as co-documentation agents, PNC Bank, N.A.,

collectively with CSFB and BNY, as co-arrangers,

and Citicorp USA, Inc., as administrative agent

(the “Administrative Agent”) for the Lenders

under the Credit Agreement

 

Ladies and

Gentlemen:

 

We refer to (i)

the Amendment and Restatement of the Credit Agreement dated as of January 12,

2000 (the “Credit Agreement”) among the undersigned and you, (ii) the

Shared Collateral Security Agreement dated November 9, 1999 (the “Shared

Collateral Security Agreement”) from the undersigned to Wilmington Trust

Company and John M. Beeson, as Collateral Trustees, and (iii) the Non-Shared

Collateral Security Agreement dated November 9, 1999 (the “Non-Shared

Collateral Security Agreement”, and together with the Shared Collateral

Security Agreement, the “Collateral Documents”) from the Grantors under

and as defined therein to the Administrative Agent.  Capitalized terms not otherwise defined in this Letter Amendment

and Waiver have the same meanings as specified in the Credit Agreement or

Collateral Documents, as the case may be.

 

We intend to

restructure Broadwing Inc. (“Broadwing Inc.”) and certain of its

Subsidiaries by merger or transfer of Equity Interests between Loan Parties as

follows: (a) (i) Cincinnati Bell Long Distance Inc. (“CBLD”) will be

merged into Broadwing Telecommunications Inc. (formerly known as Eclipse

Telecommunications, Inc.)(“Broadwing Telecommunications”) with Broadwing

Telecommunications as the surviving entity, and (ii) all of the Equity

Interests in CTI Long Lines Inc. (“CTI”) held by CBLD will be contributed or

otherwise transferred to Broadwing Telecommunications (the transactions

described in clauses (a)(i) and (a)(ii) together, the “CBLD Merger”);

(b) (i) all of the Equity Interests in EnterpriseWise IT Consulting LLC (“EnterpriseWise”)

held by Broadwing Inc. will be contributed or otherwise transferred to

Cincinnati Bell Network Solutions Inc. (“Network Solutions” and,

together with CBLD, CTI, and EnterpriseWise, the “Transferred Subsidiaries”),

(ii) EnterpriseWise will be merged into Network Solutions with the surviving

entity to be renamed Broadwing IT Consulting Inc. (“IT Consulting”), and

(iii) all of the Equity Interests in IT Consulting will be contributed or

otherwise transferred to Broadwing Communications Services Inc. (“BCSI”)

from Broadwing Inc. (the transactions described in clauses (b)(i) through

 

 

(b)(iii),

the “EnterpriseWise Transfer”); and (c) Network Evolutions, Incorporated

(“Evolutions”) will be merged into IT Consulting (the “Evolutions

Merger” and, together with the CBLD Merger and the EnterpriseWise Transfer,

the “Restructuring”).  We also

intend to repay certain existing indebtedness incurred pursuant to two Letter

Agreements each dated January 7, 2000 with Merrill Lynch, Pierce, Fenner &

Smith (the “Merrill Lynch Debt”) in an amount not to exceed $150,000,000

(the “Repayment”).  Further, we

intend to repurchase outstanding shares of Broadwing Inc. common stock in the

open market with proceeds from contributions to employee stock option plans in

an aggregate amount not to exceed $50,000,000 (the “Stock Repurchase”).

 

SECTION 1.  Amendment, Consent and Waiver.  We hereby request that you consent to the

Restructuring, the Repayment and the Stock Repurchase, amend and otherwise

modify the Credit Agreement and the Collateral Documents as hereinafter set

forth, and waive any Defaults and Events of Default under Sections 5.01(i),

5.01(j)(II), 5.02(d), 5.02(e), 5.02(g), 5.02(j) and 7.01(c) that would result

from the Restructuring, the Repayment and/or the Stock Repurchase.

 

SECTION 2.  Amendments to Certain Provisions of the

Credit Agreement Effective on the Amendment Effective Date.  The Credit Agreement is, upon the occurrence

of the Amendment Effective Date, hereby amended as follows:

 

(i)            Section 5.02(e)(viii) is amended by

deleting the final proviso therein in its entirety  and

substituting therefor the following:

 

“provided that,

the Borrowers shall, on the date of receipt by any Loan Party or any of its

Subsidiaries of the Net Cash Proceeds from any such sale, lease, transfer, or

other disposition pursuant to this subclause (viii), prepay the Advances

pursuant to, and in the amount and order of priority set forth in,

Section 2.06(b)(ii), as specified therein unless such Net Cash

Proceeds are reinvested in the business of the Borrowers and their Subsidiaries

with reasonable promptness and, in any event, not later than 12 months from the

date of receipt.  The failure of the

Borrowers to prepay the Advances with such Net Cash Proceeds on the date of

receipt of such proceeds shall constitute a representation by the Borrowers as

of such date that the Net Cash Proceeds from such sale, lease, transfer or

other disposition will be reinvested in the business of the Borrowers and their

Subsidiaries with reasonable promptness and, in any event, not later than 12

months from the date of receipt of such proceeds.  The quarterly compliance certificate of the Chief Financial

Officer of Broadwing Inc. delivered pursuant to Section 5.03(c) shall contain a

certification by such officer that all such Net Cash Proceeds received during

such fiscal quarter from each asset sale pursuant to this subclause (viii) will

be so reinvested within such time period. 

A Responsible Officer of Broadwing Inc. shall notify the Administrative

Agent in writing on the date of receipt of such Net Cash Proceeds in the event

that such Net Cash Proceeds will not be so reinvested within such 12 month

period and such Net Cash Proceeds shall be applied within 3 Business Days

following receipt of such Net Cash Proceeds to prepay the Advances outstanding

at such time pursuant to, and in the amount and order of priority set forth in

Section 2.06(b)(ii).”

 

2

 

SECTION 3.  Waivers of and Consents under Certain

Provisions of the Credit Agreement Effective on the Amendment Effective Date.  (a) 

Each of the Lenders and the Agents hereby consents to the Repayment and

waives, upon the occurrence of the Amendment Effective Date, and solely in

connection with the Repayment, any and all Defaults and Events of Default under

Sections 5.02(j) and 7.01(c) that would result from the Repayment; provided (i)

the amount so repaid does not exceed $150,000,000, (ii) the Repayment occurs on

or before July 1, 2002 and (iii) no Default or Event of Default shall have

occurred and be continuing on the date of such Repayment. 

 

(b)           Each of the Lenders and the Agents

hereby consents to the Stock Repurchase and waives, upon the occurrence of the

Amendment Effective Date, and solely in connection with the Stock Repurchase,

any and all Defaults and Events of Default under Sections 5.02(g) and 7.01(c)

that would result from the Stock Repurchase; provided (i) the amount so

paid does not exceed $50,000,000, (ii) 100% of such capital stock repurchases

of Broadwing Inc. are funded with proceeds received from employee contributions

to stock option plans of Broadwing Inc. and (iii) no Default or Event of

Default shall have occurred and be continuing on the date of such Stock

Repurchase.

 

SECTION 4.  Amendments to Certain Provisions of the

Collateral Documents Effective on the Collateral Document Amendment Effective

Date.  (a) The Collateral Documents

are, upon the occurrence of the Collateral Document Amendment Effective Date,

hereby amended as follows:

 

(i)            The Shared Collateral Security

Agreement is amended by substituting Schedule I attached hereto for Schedule I

to the Shared Collateral Security Agreement.

 

(ii)           The Non-Shared Collateral Security

Agreement is amended by substituting Schedule II attached hereto for Schedule

II to the Non-Shared Collateral Security Agreement.

 

SECTION 5.  Waivers of and Consents under

Certain Provisions of the Credit Agreement Effective on the EnterpriseWise

Waiver Effective Date.

 

(a)           Any and all Defaults and Events of

Default under Sections 5.01(i), 5.01(j)(II), 5.02(d), 5.02(e) and 7.01(c) of

the Credit Agreement that would result from the consummation of the

EnterpriseWise Transfer are, upon the occurrence of the EnterpriseWise Waiver

Effective Date, hereby waived by the Lenders.

 

(b)           Each of the Lenders and the Agents

hereby consents, upon the occurrence of the EnterpriseWise Waiver Effective

Date, and solely in connection with the consummation of the EnterpriseWise

Transfer, to release all liens and security interests of Broadwing Inc. in the

Equity Interests in EnterpriseWise and Network Solutions held by Broadwing Inc.

comprising part of the Collateral under the Shared Collateral Security

Agreement (collectively, the “EnterpriseWise Transferred Collateral”) in

accordance with Section 8.01(a) of the Collateral Trust Agreement.

 

3

 

(c)           Each of the Lenders and the Agents

hereby consents, upon the occurrence of the EnterpriseWise Waiver Effective

Date, and solely in connection with the consummation of the EnterpriseWise

Transfer, to release and discharge each of EnterpriseWise and Network Solutions

from its guarantee of the Guaranteed Obligations under and as defined in the

CBI Subsidiary Guaranty.

 

SECTION 6.  Waivers of and Consents under Certain

Provisions of the Credit Agreement Effective on the CBLD Waiver Effective Date.

 

(a)           Any and all Defaults and Events of

Default under Sections 5.01(i), 5.01(j)(II), 5.02(d), 5.02(e) and 7.01(c) of

the Credit Agreement that would result from the consummation of the CBLD Merger

are, upon the occurrence of the CBLD Waiver Effective Date, hereby waived by

the Lenders.

 

(b)           Each of the Lenders and the Agents

hereby consents, upon the occurrence of the CBLD Waiver Effective Date, and

solely in connection with the consummation of the CBLD Merger, to release all

liens and security interests of Broadwing Inc. in the Equity Interests in CBLD

and CTI held by Broadwing Inc. comprising part of the Collateral under the

Shared Collateral Security Agreement (collectively, the “CBLD Transferred

Collateral”) in accordance with Section 8.01(a) of the Collateral Trust

Agreement.

 

(c)           Each of the Lenders and the Agents

hereby consents, upon the occurrence of the CBLD Waiver Effective Date, and

solely in connection with the consummation of the CBLD Merger, to release and

discharge each of CBLD and CTI from its guarantee of the Guaranteed Obligations

under and as defined in the CBI Subsidiary Guaranty.

 

SECTION 7.  Conditions Precedent to Effectiveness of

this Letter Amendment and Waiver. 

(a)  Sections 2 and 3 of this

Letter Amendment and Waiver shall become effective as of the date first above

written (the “Amendment Effective Date”), when and only when, each of

the following conditions precedent shall have been satisfied:

 

(i)            The Administrative Agent shall have

received counterparts of (i) this Letter Amendment and Waiver executed by the

undersigned and the Required Lenders or, as to any of the Lenders, advice

satisfactory to the Administrative Agent that such Lender has executed this

Letter Amendment and Waiver, and (ii) the Consent attached hereto executed by

each of the Subsidiary Guarantors.

 

(ii)           The representations and warranties

set forth in each of the Loan Documents shall be correct in all material

respects on and as of the Amendment Effective Date, before and after giving

effect to this Letter Amendment and Waiver, as though made on and as of such

date (except for any such representation and warranty that, by its terms,

refers to a specific date other than the Amendment Effective Date, in which

case as of such specific date).

 

(iii)          No event shall have occurred and be

continuing, or shall result from the effectiveness of this Letter Amendment and

Waiver that constitutes a Default other than the Defaults and Events of Default

expressly waived (subject to clause (b) hereof) under Sections 3 and 5.

 

4

 

(iv)          All of the accrued fees and expenses

of the Administrative Agent and the Lenders, including the accrued fees and

expenses of counsel for the Administrative Agent) shall have been paid in full.

 

(b)  Section 5 of this Letter Amendment and Waiver

shall become effective as of the date first above written (the “EnterpriseWise

Waiver Effective Date”), when and only when, each of the following

conditions precedent shall have been satisfied:

 

(i)            Each of the conditions precedent set

forth in clause (a) of this Section 7 shall have been satisfied in full or

waived.

 

(ii)           The EnterpriseWise Transfer shall

have been consummated on terms reasonably satisfactory to the Administrative

Agent and the Required Lenders.

 

(iii)          All governmental and third party

consents, approvals and authorizations of, notices and filings to or with, and

other actions by, any other Person necessary in connection with any aspect of

the EnterpriseWise Transfer shall have been obtained (without the imposition of

any conditions that are not reasonably acceptable to the Lenders) and shall

remain in full force and effect; all applicable waiting periods shall have

expired without any action being taken by any competent authority; and no law

or regulation shall be applicable in the reasonable judgment of the Lenders

that restrains, prevents or imposes materially adverse conditions upon any

aspect of the EnterpriseWise Transfer.

 

(iv)          The Collateral Trustee shall have

received from Broadwing Inc. a Notice of Partial Release (as defined in the

Collateral Trust Agreement) at least 10 Business Days prior to the release of

the EnterpriseWise Transferred Collateral requesting the partial release of the

such Collateral from the Shared Collateral Security Agreement in accordance

with Section 8.01(a) of the Collateral Trust Agreement.

 

(v)           The Administrative Agent shall have

received on or before the EnterpriseWise Waiver Effective Date the following,

each dated such date (unless otherwise specified), in form and substance

reasonably satisfactory to the Lenders:

 

(1)           Certified

copies of (A) the resolutions of the board of directors of each Loan Party that

is a party to any aspect of the EnterpriseWise Transfer approving the

EnterpriseWise Transfer and the other transactions contemplated thereby and

hereby involving or affecting such Loan Party, and (B) all documents evidencing

necessary governmental authorizations, or other necessary consents, approvals,

authorizations, notices, filings or actions, with respect to the EnterpriseWise

Transfer or any of the other transactions contemplated by any of the foregoing,

involving or affecting such Loan Party.

 

(2)           A

certificate of a Responsible Officer of the Borrowers, in form and substance

reasonably satisfactory to the Administrative Agent, certifying that

immediately before and after giving pro forma effect to the EnterpriseWise

Transfer and the other transactions contemplated thereby, no Default or Event

of Default shall have occurred and be continuing.

 

5

 

(3)           A

guaranty supplement, in substantially the form of Exhibit A to the IXC

Subsidiaries Guaranty, duly executed by IT Consulting. 

 

(4)           A security agreement

supplement, in substantially the form of Exhibit A to the Non-Shared Collateral

Security Agreement, duly executed by IT Consulting.

 

(5)           Certificates

representing all of the outstanding Equity Interests in IT Consulting,

reflecting the ownership of IT Consulting by BCSI, accompanied by undated stock

powers duly executed in blank, and instruments evidencing the Pledged Debt, if

any, held by (i) IT Consulting and (ii) Broadwing Inc. with respect to Pledged

Debt of EnterpriseWise and Networks Solutions assumed by IT Consulting, in each

case, duly endorsed in blank.

 

(6)           Proper financing

statements and amendments to existing financing statements (Forms UCC-1 and

UCC-3 or comparable forms) under the Uniform Commercial Code of all

jurisdictions that may be necessary or that the Administrative Agent may

reasonably deem desirable in order to perfect and protect the liens and

security interests created or purported to be created under the Collateral

Documents, covering such Pledged Shares and Pledged Debt, in each case

completed in a manner satisfactory to the Administrative Agent.

 

(7)           evidence that all of

the other actions that may be necessary or that the Administrative Agent may

reasonably deem desirable in order to perfect and protect the liens and

security interests created under the Collateral Documents have been taken or

will be taken in accordance with the terms of the Loan Documents.

 

(8)           A favorable opinion

of Frost & Jacobs, counsel for the Loan Parties, in form and substance

satisfactory to the Lenders.

 

(vi)          The representations and warranties set

forth in each of the Loan Documents shall be correct in all material respects

on and as of the date first above written and the EnterpriseWise Waiver

Effective Date, before and after giving effect to this Letter Amendment and

Waiver and the EnterpriseWise Transfer, as though made on and as of such date

(except for any such representation and warranty that, by its terms, refers to

a specific date other than the EnterpriseWise Waiver Effective Date, in which

case as of such specific date).

 

(c)           Section 6 of this Letter Amendment

and Waiver shall become effective as of the date first above written (the “CBLD

Waiver Effective Date”), when and only when, each of the following

conditions precedent shall have been satisfied:

 

(i)            Each of the conditions precedent set

forth in clause (a) of this Section 7 shall have been satisfied in full or

waived.

 

(ii)           The CBLD Merger shall have been

consummated on terms reasonably satisfactory to the Administrative Agent and

the Required Lenders.

 

6

 

(iii)          All governmental and third party

consents, approvals and authorizations of, notices and filings to or with, and

other actions by, any other Person necessary in connection with any aspect of

the CBLD Merger shall have been obtained (without the imposition of any

conditions that are not reasonably acceptable to the Lenders) and shall remain

in full force and effect; all applicable waiting periods shall have expired

without any action being taken by any competent authority; and no law or

regulation shall be applicable in the reasonable judgment of the Lenders that

restrains, prevents or imposes materially adverse conditions upon any aspect of

the CBLD Merger.

 

(iv)          The Collateral Trustee shall have

received from Broadwing Inc. a Notice of Partial Release (as defined in the

Collateral Trust Agreement) at least 10 Business Days prior to the release of

the CBLD Transferred Collateral requesting the partial release of such

Collateral from the Shared Collateral Security Agreement in accordance with

Section 8.01(a) of the Collateral Trust Agreement.

 

(v)           The Administrative Agent shall have

received on or before the CBLD Waiver Effective Date the following, each dated

such date (unless otherwise specified), in form and substance reasonably

satisfactory to the Lenders:

 

(1)           Certified copies of

(A) the resolutions of the board of directors of each Loan Party that is a

party to any aspect of the CBLD Merger approving the CBLD Merger and the other

transactions contemplated thereby and hereby involving or affecting such Loan

Party, and (B) all documents evidencing necessary governmental authorizations,

or other necessary consents, approvals, authorizations, notices, filings or

actions, with respect to the CBLD Merger or any of the other transactions

contemplated by any of the foregoing, involving or affecting such Loan Party.

 

(2)           A certificate of a

Responsible Officer of the Borrowers, in form and substance reasonably

satisfactory to the Administrative Agent, certifying that immediately before

and after giving pro forma effect to the CBLD Merger and the other

transactions contemplated thereby, no Default or Event of Default shall have

occurred and be continuing.

 

(3)           Certificates

representing all of the outstanding Equity Interests in CTI, reflecting the

ownership of CTI  by Broadwing

Telecommunications, accompanied by undated stock powers duly executed in blank,

and instruments evidencing the Pledged Debt, if any, held by (i) CTI and (ii)

Broadwing Telecommunications with respect to Pledged Debt of CBLD assumed by

Broadwing Telecommunications, in each case, duly endorsed in blank.

 

(4)           Proper amendments to

existing financing statements (Form UCC-3 or a comparable form) under the

Uniform Commercial Code of all jurisdictions that may be necessary or that the

Administrative Agent may reasonably deem desirable in order to perfect and

protect the liens and security interests created or purported to be created

under the Collateral Documents, covering such Pledged

 

7

 

Shares and Pledged

Debt, in each case completed in a manner satisfactory to the Administrative

Agent.

 

(5)           evidence that all of

the other actions that may be necessary or that the Administrative Agent may

reasonably deem desirable in order to perfect and protect the liens and

security interests created under the Collateral Documents have been taken or

will be taken in accordance with the terms of the Loan Documents.

 

(6)           A favorable opinion

of Frost & Jacobs, counsel for the Loan Parties, in form and substance

satisfactory to the Lenders.

 

(vi)          The representations and warranties set

forth in each of the Loan Documents shall be correct in all material respects

on and as of the date first above written and the CBLD Waiver Effective Date,

before and after giving effect to this Letter Amendment and Waiver and the CBLD

Merger, as though made on and as of such date (except for any such

representation and warranty that, by its terms, refers to a specific date other

than the CBLD Waiver Effective Date, in which case as of such specific date).

 

(d)           Section 4 of this Letter Amendment

and Waiver shall become effective as of the date first above written (the “Collateral

Document Amendment Effective Date”), when and only when, each of the

following conditions precedent shall have been satisfied:

 

(i)            Each of the conditions precedent set

forth in clause (a) of this Section 7 shall have been satisfied in full or

waived.

 

(ii)                

The Evolutions Merger shall have been

consummated.

 

(iii)               

The CBLD Waiver Effective Date shall have

occurred.

 

(e)           No event shall have occurred and be

continuing, or shall result from the effectiveness of this Letter Amendment and

Waiver or the Restructuring, the Repayment or the Stock Repurchase, that

constitutes a Default other than the Defaults and Events of Default expressly

waived under Sections 3, 5, and 6.

 

The effectiveness

of this Letter Amendment and Waiver is further conditioned upon the accuracy of

all of the factual matters described herein. 

This Letter Amendment and Waiver is subject to the provisions of Section 9.01

of the Credit Agreement.

 

SECTION 8.  Reference to and Effect on the Loan

Documents.  (a) On and after the

effectiveness of this Letter Amendment and Waiver, (i) each reference in the

Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like

import referring to the Credit Agreement, and each reference in the Notes and

each of the other Loan Documents to “the Credit Agreement”, “thereunder”,

“thereof” or words of like import referring to the Credit Agreement, shall mean

and be a reference to the Credit Agreement, as amended by this Letter Amendment

and Waiver, (ii)  each reference in the

Shared Collateral Security Agreement to “this Agreement”, “hereunder”, “hereof”

or words of like import referring to the Shared Collateral Security Agreement,

and each reference in the other Loan Documents to “the Shared

 

8

 

Collateral

Security Agreement”, “thereunder”, “thereof” or words of like import referring

to the Shared Collateral Security Agreement, shall mean and be a reference to the

Shared Collateral Security Agreement, as amended by this Letter Amendment and

Waiver, and (iii) each reference in the Non-Shared Collateral Security

Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import

referring to the Non-Shared Collateral Security Agreement, and each reference

in the other Loan Documents to “the Non-Shared Collateral Security Agreement”,

“thereunder”, “thereof” or words of like import referring to the Non-Shared

Collateral Security Agreement, shall mean and be a reference to the Non-Shared

Collateral Security Agreement, as amended by this Letter Amendment and Waiver.

 

(b)  The Credit Agreement, the Notes and each of

the other Loan Documents, as specifically amended by this Letter Amendment and

Waiver, are and shall continue to be in full force and effect and are hereby in

all respects ratified and confirmed. Without limiting the generality of the

foregoing, the Collateral Documents and all of the Collateral described therein

do and shall continue to secure the payment of all Obligations of the Loan

Parties under the Loan Documents, in each case as amended by this Letter

Amendment and Waiver.  The execution,

delivery and effectiveness of this Letter Amendment and Waiver shall not,

except as expressly provided herein, operate as a waiver of any right, power or

remedy of any Lender or the Administrative Agent under any of the Loan

Documents, nor constitute a waiver of any provision of any of the Loan

Documents.

 

SECTION 9.  Costs and Expenses.  Each of the Borrowers hereby severally

agrees to pay, upon demand, all of the reasonable costs and expenses of the

Administrative Agent (including, without limitation, the reasonable fees and

expenses of counsel for the Administrative Agent) in connection with the

preparation, execution, delivery, administration, modification and amendment of

this Letter Amendment and Waiver and all of the instruments, agreements and

other documents delivered or to be delivered in connection herewith, all in

accordance with the terms of Section 9.04 of the Credit Agreement.

 

SECTION 10.  Execution in Counterparts.  This Letter Amendment and Waiver may be

executed in any number of counterparts and by different parties hereto in

separate counterparts, each of which when so executed shall be deemed to be an

original and all of which taken together shall constitute one and the same

agreement.  Delivery of an executed

counterpart of a signature page to this Letter Amendment and Waiver by

telecopier shall be effective as delivery of a manually executed counterpart of

this Letter Amendment and Waiver.

 

If you agree to

the terms and provisions hereof, please evidence such agreement by executing

and returning at least two counterparts of this Letter Amendment and Waiver to

Townsend Weekes, Director, Salomon Smith Barney Inc., 390 Greenwich Street, New

York, New York 10013.

 

9

 

This Letter

Amendment and Waiver shall be governed by, and construed in accordance with,

the laws of the State of New York.

 

	

   

  	

   

  	

   

  
	

   

  	

  Very

  truly yours,

  
	

   

  	

   

  
	

   

  	

  BROADWING

  INC. (f/k/a  CINCINNATI BELL INC.)

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  BROADWING  COMMUNICATIONS

  
	

   

  	

  SERVICES

  INC. (f/k/a IXC

  
	

   

  	

  COMMUNICATIONS

  SERVICES, INC.)

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

  Agreed

  as of the date first above written:

  	

   

  
	

   

  	

   

  
	

  CITICORP

  USA, INC.,

  	

   

  
	

  as Administrative Agent

  and as Lender

  	

   

  
	

   

  	

   

  
	

  By

  	

   

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  
	

   

  	

   

  
	

  BANK

  OF AMERICA, N.A.,

  	

   

  
	

  as Syndication Agent

  and as Lender

  	

   

  
	

   

  	

   

  
	

  By

  	

   

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  
	

   

  	

   

  
	

   

  	

  Lenders:

  
	

   

  	

   

  
	

   

  	

  CREDIT

  SUISSE FIRST BOSTON

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  THE

  BANK OF NEW YORK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
						

 

10

 

	

   

  	

  PNC BANK, N.A.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ABN AMRO BANK N.V.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ARCHIMEDES FUNDING,

  L.L.C.

  
	

   

  	

  By: ING Capital

  Advisors LLC, as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ARCHIMEDES FUNDING II,

  LTD.

  
	

   

  	

  By: ING Capital

  Advisors LLC, as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ARCHIMEDES FUNDING III,

  LTD.

  
	

   

  	

  By: ING Capital

  Advisors LLC, as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ATHENA CDO, LIMITED

  
	

   

  	

  By: Pacific Investment

  Management Company, as

  its Investment Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
				

 

11

 

	

   

  	

  BANK AUSTRIA

  CREDITANSTALT

  CORPORATE FINANCE, INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  BANK OF CHINA, NEW YORK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  BANK OF

  TOKYO-MITSUBISHI, LTD.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  BAYERISCHE

  HYPO-UND VEREINSBANK AG,

  NEW YORK BRANCH

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CAPTIVA IV FINANCE

  LTD., as advised by

  Pacific Investment Management Company

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CAPTIVA III FINANCE

  LTD., as advised by

  Pacific Investment Management Company

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

12

 

	

   

  	

  CARLYLE HIGH YIELD

  PARTNER II, LTD.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CATALINA CDO LTD.

  
	

   

  	

  By: Pacific Investment

  Management Company, as

  its Investment Adviser

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  CHANG HWA COMMERCIAL

  BANK, LTD.

  
	

   

  	

  New York Branch

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CHINATRUST COMMERCIAL

  BANK, LTD.

  
	

   

  	

  New York Branch

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  COMMERCEBANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  Citibank International

  plc as Global Investment

  Manager and Group Funding Manager for and on

  behalf of Five Finance Corporation

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

13

 

	

   

  	

  CYPRESSTREE INVESTMENT

  MANAGEMENT

  COMPANY, INC.

  
	

   

  	

  As: Attorney-in-Fact

  and on behalf of First

  Allmerica Financial Life Insurance Company as

  Portfolio Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CYPRESSTREE

  INSTITUTIONAL FUND LLC

  
	

   

  	

  By: CypressTree

  Investment Management

  Company, Inc., its Managing Member

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CYPRESSTREE INVESTMENT

  FUND LLC

  
	

   

  	

  By: CypressTree

  Investment Management

  Company, Inc., its Managing Member

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CYPRESSTREE INVESTMENT

  PARTNERS I, LTD.

  
	

   

  	

  By: CypressTree

  Investment Management

  Company, Inc., as Portfolio Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CYPRESSTREE INVESTMENT

  PARTNERS II, LTD.

  
	

   

  	

  By: CypressTree

  Investment Management

  Company, Inc., as Portfolio Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

14

 

	

   

  	

  DELANO COMPANY

  
	

   

  	

  By: Pacific Investment

  Management Company, as

  its Investment Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  DEUTSCHE BANK AG, NEW

  YORK AND/OR

  CAYMAN ISLAND BRANCHES

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ELF FUNDING TRUST I

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ELT LTD.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ERSTE BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  EXCEL BANK

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  EXPORT DEVELOPMENT

  CORPORATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
				

 

15

 

	

   

  	

  FIFTH THIRD BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRST DOMINION FUNDING I

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRST DOMINION FUNDING

  II

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRST HAWAIIAN BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRST UNION NATIONAL

  BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRSTAR BANK N.A.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIRSTRUST BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

16

 

	

   

  	

  FLEET NATIONAL BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FRANKLIN FLOATING RATE

  TRUST

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FUJI BANK LIMITED

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  GENERAL ELECTRIC

  CAPITAL CORPORATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  GLENEAGLES TRADING LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  HARCH CLO I, LTD.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ING SWISS LIFE US

  RAINBOW LIMITED

  
	

   

  	

  By:  ING Capital Advisors LLC, as Investment

  Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

17

 

	

   

  	

  INDOSUEZ CAPITAL

  FUNDING IIA, LTD.

  
	

   

  	

  By:  Indosuez Capital as Portfolio Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  INDOSUEZ CAPITAL

  FUNDING IV, L.P.

  
	

   

  	

  By:  Indosuez Capital as Portfolio Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KEMPER FLOATING RATE

  FUND

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  KEY BANK NATIONAL

  ASSOCIATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH CYPRESSTREE-1 LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH ING-1 LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

18

 

	

   

  	

  KZH ING-2 LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH ING-3 LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH LANGDALE LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH CNC LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH SHOSHONE LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  KZH STERLING LLC

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  IBM CREDIT CORPORATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

19

 

	

   

  	

  MERITA BANK PLC, NEW

  YORK BRANCH

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  MERRILL LYNCH GLOBAL

  INVESTMENT

  SERIES:  BANK LOAN INCOME PORTFOLIO

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  MERRILL LYNCH GLOBAL

  INVESTMENT

  SERIES: INCOME STRATEGIES PORTFOLIO

  
	

   

  	

  By: Merrill Lynch Asset

  Management, L.P., as

  Investment Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  MERRILL LYNCH SENIOR

  FLOATING RATE FUND, INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ML CLO XII PILGRIM

  AMERICA (CAYMAN) LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc., as its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
				

 

20

 

	

   

  	

  ML CLO XV PILGRIM

  AMERICA (CAYMAN) LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc., as its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ML CLO XX PILGRIM

  AMERICA (CAYMAN) LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc., as its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  MORGAN STANLEY SENIOR

  FUNDING INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  NATIONAL CITY BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  NORTH AMERICAN SENIOR

  FLOATING RATE FUND

  
	

   

  	

  By:  CypressTree Investment Management Company,

  Inc., as Portfolio Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

21

 

	

   

  	

  OAK MOUNTAIN LIMITED

  
	

   

  	

  By:  Alliance Capital Management L.P.,

  
	

   

  	

  as Investment Manager

  
	

   

  	

  By:  Alliance Capital Management Corporation,

  
	

   

  	

  as General Partner

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  OLYMPIC FUNDING TRUST,

  SERIES 1999-1

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  OPPENHEIMER SENIOR

  FLOATING RATE FUND

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  OXFORD STRATEGIC INCOME

  FUND

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  PACIFICA PARTNERS I,

  L.P.

  
	

   

  	

  By: Imperial Credit

  Asset Management As its 

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  PILGRIM AMERICA HIGH

  INCOME

  INVESTMENTS LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc. as its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
				

 

22

 

	

   

  	

  PILGRIM CLO 1999-1 LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc. as its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ROYAL BANK OF CANADA

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ROYALTON COMPANY

  
	

   

  	

  By:  Pacific Investment Management Company, as

  its Investment Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  SEQUILES PILGRIM I,

  LTD.

  
	

   

  	

  By:  Pilgrim Investments, Inc., As its

  Investment Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  THE PROVIDENT BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  THE SUMITOMO BANK,

  LIMITED

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

23

 

	

   

  	

  SUMMIT BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  SUNTRUST BANK

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  TORONTO DOMINION (NEW

  YORK), INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  TRIGON HEALTHCARE INC.

  (Acct  674)

  
	

   

  	

  By Pacific Investment Management

  Company, as its Investment Advisor, acting through The Bank of New York in

  the Nominee Name of Hare & Co.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  VAN KAMPEN CLO I,

  LIMITED

  
	

   

  	

  By: Van Kampen

  Management Inc., as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  VAN KAMPEN CLO II,

  LIMITED

  
	

   

  	

  By: Van Kampen

  Management Inc., as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

24

 

	

   

  	

  VAN KAMPEN SENIOR

  FLOATING RATE FUND

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  VAN KAMPEN SENIOR

  INCOME TRUST

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  WINGED FOOT FUNDING

  TRUST

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  

 

25

 

	

   

  	

  MAPLEWOOD (CAYMEN)

  LIMITED,

  
	

   

  	

  as Assignee

  
	

   

  	

  By: Massachusetts

  Mutual Life Insurance

  Company, as Investment Advisor

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  MASSACHUSETTS MUTUAL

  LIFE

  INSURANCE COMPANY,

  
	

   

  	

  as Assignee

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  SIMSBURY CLO, LIMITED,

  
	

   

  	

  as Assignee

  
	

   

  	

  By: Massachusetts

  Mutual Life Insurance

  Company, as Collateral Manager

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CITIBANK N.A.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  EATON VANCE SENIOR

  INCOME TRUST

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  FIVE FINANCE CORP

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

26

 

	

   

  	

  EATON VANCE

  INSTITUTIONAL

  
	

   

  	

  SENIOR LOAN

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

27

 

CONSENT

 

Each

of the undersigned, as (i) Grantor under the Non-Shared Collateral Security

Agreement dated as of November 9, 1999 (the “Non-Shared Collateral Security

Agreement”) in favor of the Citicorp USA, Inc., as Administrative Agent (the

“Administrative Agent”), for its benefit and the benefit of the Lenders

parties to the Credit Agreement referred to in the foregoing Letter Amendment

and Waiver, and/or (ii) Grantor under the Shared Collateral Security Agreement

(the “Shared Collateral Security Agreement”, and together with the

Non-Shared Collateral Security Agreement, the “Security Agreements”) in

favor of Wilmington Trust Company and John M. Beeson, as Collateral Trustees,

for their benefit and the benefit of the Secured Holders referred to therein,

and (iii) Guarantor under the IXCS Subsidiary Guaranty dated as of November 9,

1999 (the “IXCS Subsidiary Guaranty”) in favor of the Secured Parties

referred to therein, and/or (iv) Guarantor under the CBI Subsidiary Guaranty

dated as of November 9, 1999 (the “CBI Subsidiary Guaranty”, and

together with the IXCS Subsidiary Guaranty, the “Guarantees”) in favor

of the Secured Parties referred to therein, hereby consents to such Letter

Amendment and Waiver and hereby confirms and agrees that (a) notwithstanding

the effectiveness of such Letter Amendment and Waiver, each Security Agreement

and Guarantee to which it is a party is, and shall continue to be, in full

force and effect and is hereby ratified and confirmed in all respects, and (b)

the Security Agreements to which such Grantor is a party and all of the

Collateral described therein do, and shall continue to, secure the payment of

all of the Secured Obligations (in each case, as defined therein.)

 

	

   

  	

  BROADWING INC. (f/k/a

  CINCINNATI BELL INC.)

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  BROADWING

  COMMUNICATIONS SERVICES INC. (f/k/a IXC COMMUNICATIONS SERVICES, INC.)

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

28

 

	

   

  	

  BROADWING

  COMMUNICATIONS INC. (f/k/a IXC COMMUNICATIONS, INC.)

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CINCINNATI BELL SUPPLY

  COMPANY

  
	

   

  	

  CINCINNATI BELL

  DIRECTORY INC.

  
	

   

  	

  CINCINNATI

  BELL NETWORK SOLUTIONS INC.

  
	

   

  	

  ENTERPRISEWISE

  IT CONSULTING LLC

  
	

   

  	

  ZOOMTOWN.COM

  INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CINCINNATI BELL LONG

  DISTANCE INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title

  
	

   

  	

   

  
	

   

  	

  CTI LONG LINES INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  CINCINNATI

  BELL WIRELESS COMPANY

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

29

 

	

   

  	

  CINCINNATI BELL

  HOLDINGS INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  
	

   

  	

   

  
	

   

  	

  ATLANTIC

  STATES MICROWAVE TRANSMISSION COMPANY

  
	

   

  	

  CENTRAL

  STATES MICROWAVE TRANSMISSION COMPANY

  
	

   

  	

  DELAWARE

  CAPITAL PROVISIONING, INC.

  
	

   

  	

  DPNET, INC.

  
	

   

  	

  EASTERN

  TELECOM OF WASHINGTON, D.C., INC.

  
	

   

  	

  BROADWING

  TELECOMMUNICATIONS INC. (f/k/a ECLIPSE TELECOMMUNICATIONS, INC.)

  
	

   

  	

  IXC BUSINESS SERVICES,

  LLC

  
	

   

  	

  IXC

  COMMUNICATIONS SERVICES OF VIRGINIA, INC.

  
	

   

  	

  IXC

  INTERNATIONAL, INC.

  
	

   

  	

  IXC

  INTERNET SERVICES, INC.

  
	

   

  	

  IXC

  LEASING, LLC

  
	

   

  	

  NETWORK

  ADVANCES SERVICES, INC.

  
	

   

  	

  RIO

  GRANDE TRANSMISSION, INC.

  
	

   

  	

  TELCOM

  ENGINEERING, INC.

  
	

   

  	

  TELECOM

  ONE, INC.

  
	

   

  	

  THE DATA PLACE, INC.

  
	

   

  	

  TOWER

  COMMUNICATION SYSTEMS CORP.

  
	

   

  	

  WEST TEXAS MICROWAVE

  COMPANY

  
	

   

  	

  WESTERN

  STATES MICROWAVE TRANSMISSION COMPANY

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

30

 

	

   

  	

  NETWORK

  EVOLUTIONS, INCORPORATED

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By

  	

   

  
	

   

  	

  Title:

  

 

31

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]