Document:

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EXHIBIT 10.1

        THIRD STANDSTILL AGREEMENT AND AMENDMENT TO THE CREDIT AGREEMENT

            THIRD STANDSTILL AGREEMENT AND AMENDMENT TO THE CREDIT AGREEMENT,
dated as of August 30, 2004 (this "AGREEMENT"), to the Third Amended and
Restated Credit Agreement, dated as of September 13, 2002, as amended by a
Letter Amendment and Waiver dated as of November 12, 2002, a Second Amendment
dated as of May 5, 2004, a Third Amendment dated as of May 12, 2004, a Fourth
Amendment dated as of May 25, 2004, a Standstill Agreement and Conditional
Amendment to the Credit Agreement (the "FIRST STANDSTILL AMENDMENT") dated as of
June 30, 2004 and a Second Standstill and Conditional Amendment ("THE SECOND
STANDSTILL AMENDMENT") dated as of July 30, 2004 (as so amended, the "CREDIT
AGREEMENT"), among CHOICE ONE COMMUNICATIONS INC., a Delaware corporation (the
"GUARANTOR"), the subsidiaries of the Guarantor listed on the signature pages
hereto (each a "BORROWER" and collectively the "BORROWERS"), the banks,
financial institutions and other institutional lenders parties to the Credit
Agreement defined above (collectively, the "LENDERS"), General Electric Capital
Corporation, as administrative agent (in such capacity, the "ADMINISTRATIVE
AGENT"), collateral agent and syndication agent for the Lenders, and the other
agents signatories hereto.

                             PRELIMINARY STATEMENTS

      1.    Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit
Agreement, as amended by this Agreement.

      2.    Pursuant to the Credit Agreement, the Lenders have agreed to make,
and have made, certain Loans and other extensions of credit to the Borrowers.

      3.    Pursuant to Section 2.6 of the Credit Agreement (including after
giving effect to the First Standstill Amendment), on July 30, 2004, the
Borrowers were obligated to pay to the Revolving Credit Lenders outstanding
Revolving Credit Loans in the principal amount listed on Schedule I hereto (the
"REQUIRED REVOLVING LOAN PAYMENT"), and pursuant to the Second Standstill
Amendment, the Lenders agreed, subject to the terms and conditions of the Second
Standstill Amendment, to forbear from demanding the Required Revolving Loan
Payment until August 30, 2004.

      4.    Pursuant to Section 4.3 of the Credit Agreement (including after
giving effect to the First Standstill Amendment), on July 30, 2004, the
Borrowers were obligated to pay to the Term A Lenders, the Term B Lenders, and
the Term D Lenders outstanding Term A Loans, Term B Loans and Term D Loans
respectively, in the principal amounts listed on Schedule I hereto
(collectively, the "REQUIRED TERM LOAN PAYMENTS", and together with the Required
Revolving Loan Payments, the "REQUIRED PRINCIPAL PAYMENTS"), and pursuant to the
Second Standstill Amendment, the Lenders agreed, subject to the terms and
conditions of the Second Standstill Amendment, to forbear from demanding the
Required Term Loan Payments until August 30, 2004.

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                                        2

      5.    Pursuant to Section 5.1(e) of the Credit Agreement (including after
giving effect to the First Standstill Amendment), on July 30, 2004, the
Borrowers were obligated to pay to the Lenders interest on the outstanding LIBOR
Rate Loans in such amounts listed on Schedule II hereto (collectively, the
"REQUIRED JULY INTEREST PAYMENTS"), and pursuant to the Second Standstill
Amendment, the Lenders agreed, subject to the terms and conditions of the Second
Standstill Amendment, to forbear from demanding the Required July Interest
Payments until August 30, 2004.

      6.    Pursuant to Section 5.1(e) of the Credit Agreement (including after
giving effect to the First Standstill Amendment and the Second Standstill
Amendment), on August 30, 2004, the Borrowers are obligated to pay to the
Lenders interest on the outstanding LIBOR Rate Loans in such amounts listed on
Schedule II hereto (collectively, the "REQUIRED AUGUST INTEREST PAYMENTS" and
together with the Required July Interest Payments, the "REQUIRED INTEREST
PAYMENTS"; the Required Interest Payments together with the Required Principal
Payments being collectively referred to hereinafter as the "REQUIRED PAYMENTS").

      7.    In order to permit the Borrowers, the Guarantor and the Lenders time
to implement a possible restructuring of the indebtedness of the Borrowers and
the Guarantor, the Borrowers and the Guarantor have requested that the Required
Lenders agree to forbear from exercising any rights or remedies that they may
have under the Credit Agreement and the Loan Documents as a result of the
Borrowers not making the Required Payments on July 30, 2004 or August 30, 2004,
as the case may be (collectively, the "REQUIRED PAYMENT DATE"), until September
30, 2004, in each case, on and subject to the terms and conditions set forth
below.

            NOW, THEREFORE, in consideration of the foregoing, and for other
good and valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, the parties hereto hereby agree as follows:

            SECTION 1. Agreement to Standstill and Amendment.

            (a) Upon and subject to the occurrence of the Standstill Effective
Date (as defined in Section 3 below) and subject to the other terms and
conditions set forth below, each of the undersigned Lenders (each a "STANDSTILL
LENDER" and collectively, the "STANDSTILL LENDERS") and the Administrative Agent
agree that, notwithstanding a failure by the Borrowers to make the Required
Payments on the Required Payment Date, from and after August 30, 2004 until the
first to occur of (i) September 30, 2004 (the "STANDSTILL PERIOD") or (ii) the
date on which a Standstill Termination Event (as defined below) shall have
occurred (the first such date to occur, the "STANDSTILL TERMINATION DATE"), such
Standstill Lender and the Administrative Agent shall forbear from suing, asking
for, demanding, setting off or taking any action to recover from the Guarantor
or the Borrowers any of the Required Payments and from otherwise enforcing any
of its individual or their collective rights and remedies (including rights of
acceleration and foreclosure) against the Guarantor or the Borrowers under the
Loan Documents that arise as a result of (and only as a result of) the Required
Payments not being made on or before the Required Payment Date (it being
acknowledged and agreed by the Borrowers and the Guarantor that the failure to
make the Required Payments by the Required Payment Date constitutes an Event of
Default notwithstanding such agreement by the Standstill Lenders to forbear),
except for any action to perfect, maintain, or defend any liens granted pursuant
to the Loan Documents

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                                        3

against claims of third parties, the Borrowers or the Guarantor or any action
with respect to enforcement of this Agreement.

            (b) Notwithstanding anything to the contrary contained in Section
1(a) hereof, on the Standstill Termination Date (i) the forbearance and all
agreements set forth in Section 1(a) hereof shall automatically terminate and be
of no further force or effect, (ii) any breach, Default or Event of Default that
was the subject of or was affected by the forbearance under Section 1(a) hereof
(including the failure of the Borrowers to make any of the Required Payments)
is, without further action, reinstated and shall have the same force and effect
as if the forbearance had not been agreed to by the parties hereto and (iii)
subject to the terms of the Loan Documents and applicable law, any Lender may
thereafter, without limitation, sue, ask for or demand from any Borrower or the
Guarantor, payment of the Obligations due and payable to such Lender, in whole
or in part, and otherwise enforce any of its rights and remedies (including
rights of acceleration and foreclosure) provided for under the Loan Documents
against any party. In furtherance of the foregoing and notwithstanding the
occurrence of the Standstill Effective Date, each of the Guarantor and the
Borrowers agree that, subject to the agreement of the Standstill Lenders to
forbear from exercising certain of their rights and remedies as and to the
extent expressly set forth in this Agreement, all rights and remedies of the
Lenders under the Loan Documents with respect to the Guarantor and the Borrowers
shall continue to be available to the Lenders from and after the Standstill
Effective Date.

            (c) It is understood and agreed that interest shall continue to
accrue on and after the Standstill Effective Date on the outstanding Obligations
(including the Obligations represented by the Required Principal Payments) at
the applicable non-default rates provided for pursuant to the Credit Agreement
including those based on the LIBOR Rate; provided that it is also understood and
agreed that from and after the date hereof all subsequent Interest Periods will
not exceed one day in duration.

            (d) Upon and subject to the occurrence of the Standstill Effective
Date, the Credit Agreement is hereby amended as follows:

            (i) Section 10.1(a) of the Credit Agreement is amended by amending
and restating clause (ii) thereof in its entirety to read as follows: "(ii)(a)
at any time from and including May 11, 2004 through and including August 31,
2004, permit available cash of the Company and its Subsidiaries to be less than
$6,000,000, (b) at any time from and including September 1, 2004 through and
including September 14, 2004, permit available cash of the Company and its
Subsidiaries to be less than $4,000,000 and (c) at any time from and including
September 15, 2004 through and including November 15, 2004, permit available
cash of the Company and its Subsidiaries to be less than $3,500,000; it being
understood that, notwithstanding any provisions contained in Article XII to the
contrary, the failure by the Company and its Subsidiaries to be in compliance
with the foregoing amounts of Available Cash at any time during the foregoing
periods referred to in clauses (a) and (c) hereof, shall become an immediate
Event of Default if such failure shall continue for three days and no notice
requirement or additional grace period shall be applicable, and it being further
understood that the failure by the Company and its Subsidiaries to be in
compliance with the foregoing amounts of Available Cash at any time during the
foregoing period referred to in clause (b) hereof, shall

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                                       4

become an immediate Event of Default and no notice or additional grace period
shall be applicable."

            (ii) Section 15.10(f)(i) of the Credit Agreement is amended by
deleting the amount "$5,000,000" and substituting therefor the amount
"$1,000,000".

            (iii) Section 15.10(f)(vi) of the Credit Agreement is amended by
deleting the word "and" at the end thereof and substituting therefor the
following proviso: " provided, however, that notwithstanding the foregoing, in
any event, no participant shall have any right to approve any "lockup" or other
voting agreement, or any amendment thereto, to be entered into by such Lender
and certain other secured creditors of the Company and its Subsidiaries in
connection with a proposed plan of reorganization in bankruptcy for the Company
and its Subsidiaries, and such Lender shall specifically disclose such
requirement in writing to such participant in the agreement entered into by such
Lender and such participant with respect to such participation; and".

            SECTION 2. Standstill Events. If any of the following events (each a
"STANDSTILL EVENT") shall occur and be continuing:

            (a) Any Borrower or the Guarantor shall (i) fail to pay any amount
payable hereunder or under any Loan Document (other than the Required Payments)
when due in accordance with the terms of this Agreement or the Credit Agreement,
as the case may be, or (ii) fail to comply with or breach any provision of this
Agreement or of any Loan Document or the occurrence of any event of default
under any Loan Document or Related Transactions Documents, other than the
failure to make the Required Payments during the Standstill Period, subject in
the case of clause (ii) above only (other than the failure to make the Required
Payments, for which notwithstanding anything to the contrary in Section 12.1 of
the Credit Agreement no grace period or notice requirement shall be applicable)
to applicable notice and grace periods, if any, set forth in Section 12.1 of the
Credit Agreement;

            (b) Any representation or warranty made or deemed made by the
Borrowers or the Guarantor herein or any representation or warranty made or
deemed made hereafter by any Borrower or the Guarantor in any Loan Document or
which is contained in any certificate, document or financial or other statement
furnished by it at any time under or in connection with any such Loan Document
shall prove to have been incorrect or misleading in any material respect on or
as of the date made or deemed made;

            (c) Any of the Security Documents to which a Borrower or the
Guarantor is a party shall cease, for any reason (other than any termination in
accordance with its terms), to be in full force and effect, or any Borrower or
the Guarantor shall so assert, or any Lien created by any of such Security
Documents shall (except to the extent released in accordance with the terms of
such Security Documents and the Credit Agreement) cease to be enforceable in
accordance with its terms;

            (d) The Guaranty contained in Article XIV of the Credit Agreement
shall cease, for any reason (other than in accordance with the terms of the
Credit Agreement), to be in full force and effect with respect to the Guarantor
or any Borrower;

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                                       5

                  (e) The commencement by or against any Borrower or the
Guarantor of (i) any foreclosure, bankruptcy or similar proceeding, (ii) any
proceeding that threatens or contests the liens in favor of the Administrative
Agent or the Obligations of the Guarantor under the Guaranty, (iii) any
proceeding by any Bridge Lender seeking to enforce any remedy with respect to
any Bridge Loans or related obligations or (iv) any other proceeding that could
have a Material Adverse Effect, or the commencement of a proceeding by or on
behalf of any Borrower or the Guarantor against any Lender or Agent or the
Senior Lender Steering Committee;

            (f) A Waiver Termination Event (as defined in the Bridge Lender
Consent (as defined in Section 3 below)) shall occur under the terms of the
Bridge Lender Consent; or

            (g) The exercise of any remedies against any Borrower or the
Guarantor pursuant to a Hedging Agreement permitted or required under the Credit
Agreement;

then, upon the affirmative vote of the Required Lenders or, with respect to
clauses (e)(i) and (f) above, automatically upon the occurrence of any such
event described in such clauses without any further action, such Standstill
Event shall constitute a "STANDSTILL TERMINATION EVENT". The occurrence of a
Standstill Termination Event shall cause the forbearance under Section 1(a) of
this Agreement to immediately and automatically terminate and shall constitute
an Event of Default under the Credit Agreement and entitle the Lenders to
exercise all of the rights and remedies exercisable upon an Event of Default
pursuant to the Credit Agreement.

            SECTION 3. Conditions to Effectiveness of this Agreement. This
Agreement shall be effective as of the date first above written when, and only
when, on or before August 30, 2004, all of the following conditions precedent
have been fulfilled in a manner satisfactory to the Administrative Agent (the
"STANDSTILL EFFECTIVE DATE"):

            (a) the Administrative Agent shall have signed this Agreement and
the Administrative Agent shall have notified the parties hereto that it has
received counterparts of this Agreement executed by the Guarantor, the Borrowers
and the Required Lenders (or advice satisfactory to the Administrative Agent
shall have been received by the Administrative Agent that the Required Lenders
have executed this Agreement);

            (b) the Administrative Agent shall have received counterparts of the
Consent appended hereto (the "CONSENT") executed by each of the Guarantor and
each of the Grantors and/or Pledgors designated therein;

            (c) the Administrative Agent and the Senior Lender Steering
Committee shall have received evidence of agreements, in form and substance
satisfactory to them, that the requisite lenders under the Bridge Loan Agreement
have agreed to waive any and all of their rights to take any action with respect
to the rights and remedies under the Bridge Loan Agreement that may arise as a
result of a cross-default to a Default under the Credit Agreement or otherwise
until at least the earlier of (i) September 30, 2004 and (ii) the occurrence of
a Standstill Termination Event (the "BRIDGE LENDER CONSENT");

            (d) payment by the Borrowers or the Guarantor to the Administrative
Agent of all billed and unpaid fees and expenses of the Administrative Agent and
the Senior Lender Steering Committee in connection with all matters relating to
this Agreement, the Loan

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                                       6

Documents and the restructuring of the Borrowers and the Guarantor, including,
without limitation, the reasonable fees and expenses of the financial advisor to
the Administrative Agent, counsel to the Administrative Agent and counsel to the
Senior Lender Steering Committee; and

            (e) the Administrative Agent shall have received evidence, in form
and substance satisfactory to it, that the conditions precedent set forth in
Section 3 of the Bridge Lender Consent have been satisfied.

            SECTION 4. Representations and Warranties. To induce the Lenders to
enter into this Agreement, each of the Borrowers and the Guarantor hereby
represents and warrants to the Administrative Agent and the Lenders party hereto
the following:

            (a) The execution, delivery and performance by such Borrower and the
Guarantor of this Agreement and the Loan Documents to which it is a party, as
amended hereby, are within such Borrower's and Guarantor's corporate or limited
liability company powers, have been duly authorized by all necessary corporate
or limited liability company action, and do not (i) contravene such Borrower's
or Guarantor's constituent documents, (ii) violate any law (including, without
limitation, the Securities Exchange Act of 1934), rule, regulation (including,
without limitation, Regulation X of the Board of Governors of the Federal
Reserve System), order, writ, judgment, injunction, decree, determination or
award applicable to such Borrower and Guarantor, or (iii) subject to the receipt
of the Bridge Lender Consent described in Section 3(c) hereof, conflict with or
result in the breach of, or constitute a default under, any contractual
obligation. As of the Standstill Effective Date, neither the Guarantor nor such
Borrower is in violation of any such law, rule, regulation, order, writ,
judgment, injunction, decree, determination or award or, subject to the receipt
of the Bridge Lender Consent described in Section 3(c) hereof, in breach of any
such contract, loan agreement, indenture, mortgage, deed of trust, lease or
other instrument, the violation or breach of which could reasonably be expected
to have a Material Adverse Effect.

            (b) No authorization or approval or other action by, and no notice
to or filing with, any governmental authority or regulatory body or, subject to
the receipt of the Bridge Lender Consent described in Section 3(c) hereof, any
other third party is required to be obtained by such Borrower or the Guarantor
in connection with the execution and delivery, or performance by any such
Borrower or the Guarantor of any of its obligations under, this Agreement and
the Credit Agreement, as amended hereby.

            (c) This Agreement has been duly executed and delivered by such
Borrower and the Guarantor, and is the legal, valid and binding obligation of
such Borrower and the Guarantor, enforceable against such Borrower and the
Guarantor in accordance with its terms, except as such enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or other laws
relating to or limiting creditors' rights or by equitable principles generally.

            (d) Other than as expressly contemplated herein, (i) the
representations and warranties made by each of the Borrowers and the Guarantor
in the Security Documents and in Sections 7.1(a), (b), (c), (d), (e), (f), (g),
(h), (i), (j), (k), (l), (m), (n), (o), (r), (s), (t), (u), (v), (w), (x), (z),
(aa), (bb) and, except as may have been disclosed in the Guarantor's public
filings to

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                                       7

date, (p) of the Credit Agreement are true and correct in all material respects
on and as of the date hereof, after giving effect to the effectiveness of this
Agreement, as if made on and as of the date hereof (unless stated to relate
solely to an earlier date, in which case such representations and warranties
were true and correct in all material respects as of such earlier date) and (ii)
no Default or Event of Default has occurred and is continuing, subject to the
receipt of the Bridge Lender Consent described in Section 3(c) hereof and other
than any resulting from the failure to pay the Required Payments.

            (e) After giving effect to the Bridge Lender Consent referred to in
Section 3(c) above, no default has occurred and is continuing under or in
connection with the Bridge Loan Agreement.

            SECTION 5. Reference to and Effect on the Loan Documents.

            (a) On and after the Standstill Effective Date 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
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 or otherwise modified hereby.

            (b) The Credit Agreement, the Notes and each of the other Loan
Documents, as specifically amended or otherwise modified by this Agreement, are
and shall continue to be in full force and effect and are hereby in all respects
ratified and confirmed.

            (c) The execution, delivery and effectiveness of this Agreement
shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any Lender or any Agent under any of the Loan
Documents, nor constitute a waiver of any provision of any of the Loan
Documents.

            SECTION 6. Amendments. This Agreement may not be amended,
supplemented or modified except in accordance with the provisions of this
Section 6. The Required Lenders, the Guarantor and each Borrower may, or (with
the written consent of the Required Lenders) the Administrative Agent, the
Guarantor and each Borrower may, subject to the requirements of Section 15.11 of
the Credit Agreement, from time to time, (a) enter into written amendments,
supplements or modifications hereto for the purpose of adding any provisions to
this Agreement or changing in any manner the rights or obligations of the
Standstill Lenders or of the Borrowers and the Guarantor hereunder or (b) waive,
on such terms and conditions as the Required Lenders, or the Administrative
Agent, as the case may be, may specify in such instrument, any of the
requirements of this Agreement or any Standstill Event and its consequences;
provided, that, no such waiver and no such amendment, supplement or modification
shall amend, modify or waive any provision of this Section 6 without the consent
of each Lender party hereto. Any such waiver and any such amendment, supplement
or modification shall apply equally to each of the relevant Standstill Lenders
and shall be binding upon the Borrowers, the Guarantor, the Standstill Lenders,
the Administrative Agent and all future Standstill Lenders.

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                                       8

            SECTION 7. Costs and Expenses. The Borrowers agree to pay, and the
Guarantor guarantees payment of, all reasonable costs and expenses associated
with the preparation, execution, delivery, administration, and enforcement of
this Agreement and all related matters during the Standstill Period including,
without limitation, the reasonable fees and expenses of the financial advisor to
the Administrative Agent, counsel to the Administrative Agent and counsel to the
Senior Lender Steering Committee (in each case, whether incurred prior to or
after the Standstill Effective Date with respect to this Agreement).

            SECTION 8. Tolling of Statute of Limitations. Each and every statute
of limitations or other applicable law, rule or regulation governing the time by
which any Standstill Lender must commence legal proceedings or otherwise take
any action with respect to exercising any of its respective rights, powers or
remedies directly or indirectly against any of the Borrowers and the Guarantor
with respect to any breach or default existing on or prior to the Standstill
Termination Date, including, without limitation, actions under or in respect of
any of the Credit Agreement or any Loan Document, shall be tolled during the
Standstill Period. Each of the Borrowers and the Guarantor agree, to the fullest
extent permitted by law, not to include such period of time in any assertion by
it at any time that a statute of limitations or other applicable law, rule or
regulation bars or otherwise acts as a defense (whether equitable or legal) to
any legal proceeding or other action by any Lender in exercise of its respective
rights, powers or remedies, directly or indirectly, with respect to any or all
of the breaches or defaults referred to in the immediately preceding sentence.

            SECTION 9. Agreement Not a Defense. Each of the Borrowers and the
Guarantor agree that, subject to the agreement of the Standstill Lenders to
forbear as and to the extent expressly set forth herein, the agreements of the
Standstill Lenders under this Agreement shall not constitute a waiver by any of
the Standstill Lenders of, or a defense by any of the Borrowers and the
Guarantor to, the exercise by any of the Standstill Lenders of any right, power
or remedy which any of the Standstill Lenders may have under or in respect of
the Credit Agreement or any Loan Document or any other agreement or document
relating thereto (and including rights, powers and remedies at law, in equity or
by statute).

            SECTION 10. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

            SECTION 11. Acknowledgments and Agreements.

            (a) The Collateral. Each of the Borrowers and the Guarantor ratifies
and reaffirms the validity and enforceability (without defense, counterclaim or
offset of any kind) of the liens and security interests granted to secure any of
the Obligations to and for the benefit of the Lenders, pursuant to the Security
Documents. Each of the Borrowers and the Guarantor acknowledges and agrees that
all such liens and security interests granted by it shall continue to secure the
Obligations and the Guaranty from and after the effective date hereof. Each of
the Borrowers and the Guarantor further agrees to take promptly any and all
actions reasonably requested by the Administrative Agent with respect to the
granting, perfection and priority of the liens purported to be granted by the
Security Documents.

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                                       9

            (b) Validity of Obligations. Each of the Borrower and the Guarantor
acknowledges and agrees that such party is truly and justly indebted to the
Lenders for the Obligations, without defense, counterclaim or offset of any
kind, and such party ratifies and reaffirms the validity, enforceability and
binding nature of such Obligations.

            SECTION 12. WAIVER OF JURY TRIAL. EACH OF THE BORROWERS, THE
GUARANTOR, THE ADMINISTRATIVE AGENT AND THE LENDERS PARTY HERETO IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
(WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR THE ACTIONS OF THE ADMINISTRATIVE AGENT OR ANY LENDER PARTY
HERETO IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

            SECTION 13. Execution in Counterparts. This Agreement may be
executed by one or more of the parties to this Agreement on any number of
separate counterparts, and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed by their respective officers thereunto duly authorized, as of the
date first above written.

                       BORROWERS:

                       CHOICE ONE COMMUNICATIONS OF NEW YORK INC.
                       CHOICE ONE COMMUNICATIONS OF PENNSYLVANIA INC.
                       CHOICE ONE COMMUNICATIONS OF MASSACHUSETTS INC.
                       CHOICE ONE COMMUNICATIONS INTERNATIONAL INC.
                       CHOICE ONE COMMUNICATIONS OF RHODE ISLAND INC.
                       CHOICE ONE COMMUNICATIONS OF CONNECTICUT INC.
                       CHOICE ONE COMMUNICATIONS OF MAINE INC.
                       CHOICE ONE OF NEW HAMPSHIRE INC.
                       CHOICE ONE COMMUNICATIONS OF OHIO INC.
                       CHOICE ONE COMMUNICATIONS OF VERMONT INC.
                       CHOICE ONE ONLINE INC.
                       CHOICE ONE COMMUNICATIONS OF VIRGINIA INC.
                       CHOICE ONE COMMUNICATIONS SERVICES INC.
                       US XCHANGE INC.
                       US XCHANGE OF INDIANA, L.L.C.
                       US XCHANGE OF ILLINOIS, L.L.C.
                       US XCHANGE OF WISCONSIN, L.L.C.
                       US XCHANGE OF MICHIGAN, L.L.C.

                       By /s/ Ajay Sabherwal
                         --------------------------
                           Name:
                           Title: Chief Financial Officer
                                  for each of the entities set forth above

                       GUARANTOR:

                       CHOICE ONE COMMUNICATIONS INC.

                       By: /s/ Ajay Sabherwal
                         --------------------------
                           Name:
                           Title: Chief Financial Officer

<PAGE>

                       GENERAL ELECTRIC CAPITAL CORPORATION,
                       as Administrative Agent, Collateral Agent, Syndication
                       Agent and Lender

                       By: /s/ Christopher T. Nicholls
                           --------------------------------------------------
                           Name: Christopher T. Nicholls
                           Title: Senior Vice President,
                                  Authorized Signatory

                              MORGAN STANLEY SENIOR FUNDING, INC.,
                              as Documentation Agent and Lender

                              By: /s/ Daniel Allen
                                  -------------------------------------------
                                  Name: Daniel Allen
                                  Title: Vice President

                              Bank of America, N.A., as Lender

                              By: /s/ Laura T. Sweet
                                  -------------------------------------------
                                  Name: Laura T. Sweet
                                  Title: Assistant Vice President

                              BEAR STEARNS INVESTMENT PRODUCTS INC.,
                              as Lender

                              By: /s/ John F. McDermott
                                  -------------------------------------------
                                  Name: John F. McDermott
                                  Title: Vice President

                              CARGILL FINANCIAL SERVICES INTERNATIONAL, INC.,
                              as Lender

                              By: /s/ Mark Guidinger
                                  -------------------------------------------
                                  Name: Mark Guidinger
                                  Title: Portfolio Manager

                              By: /s/ Kelly Schreurs
                                  -------------------------------------------
                                  Name: Kelly Schreurs
                                  Title: Controller

<PAGE>

                              CREDIT SUISSE FIRST BOSTON INTERNATIONAL,
                              as Lender

                              By: /s/
                                  -------------------------------------------
                                  Name:
                                  Title:

                              DEUTSCHE BANK AND TRUST COMPANY AMERICAS,
                              as Lender

                              By: /s/ Jay Hopkins
                                  -------------------------------------------
                                  Name: Jay Hopkins
                                  Title: Assistant Vice President

                              FIDELITY ADVISORS SERIES II: FIDELITY ADVISORS
                              HIGH INCOME ADVANTAGE (218), as Lender

                              By: /s/ Frank Knox
                                  -------------------------------------------
                                  Name: Frank Knox
                                  Title: Asst Treasurer

                              Persian Investment Committee of General Motors for
                              General Motors Employees Domestic Group Pension
                              Trust

                              By: Fidelity Management Trust Company,
                              as Investment Manager under Power of Attorney

                              By: /s/ John P. O'Reilly
                                  -------------------------------------------
                                  Name: John P. O'Reilly
                                  Title: Executive Vice President

                              GOLDMAN SACHS CREDIT PARTNERS, L.P.,
                              as Lender

                              By: /s/ Pedro Ramirez
                                  -------------------------------------------
                                  Name: Pedro Ramirez
                                  Title: Authorized Signatory

<PAGE>

                              GRACIE CAPITAL, L.P.

                              P&S Capital Partners, LLC

                              By: /s/ Greg Pearson
                                  -------------------------------------------
                                  Name: Greg Pearson
                                  Title: CFO

                              LITESPEED MASTER FUND LTD

                              By: /s/ Jamie Zimmerman
                                  -------------------------------------------
                                  Name: Jamie Zimmerman
                                  Title: Managing Partner

                              MERRILL LYNCH CREDIT PRODUCTS, LLC, as Lender

                              By: /s/ Peter Chin
                                  -------------------------------------------
                                  Name: Peter Chin
                                  Title: Vice President

                              ORE HILL HUB FUND, LTD, as Lender

                              By: /s/ Frederick Wahl
                                  -------------------------------------------
                                  Name:
                                  Title:

                              QUANTUM PARTNERS LDC, as Lender

                              By: /s/ Armando Belly
                                  -------------------------------------------
                                  Name: Armando Belly
                                  Title: Attorney-in-fact

                              SATELLITE SENIOR INCOME FUND, LLC, as Lender

                              By: Satellite Asset Management, L.P., its manager

                              By: /s/ Simon Raykher
                                  -------------------------------------------
                                  Name: Simon Raykher
                                  Title: General Counsel

                              SCOGGIN CAPITAL MANAGEMENT, LP II, as Lender

                              By: S&F Partners, LP its: general partner
                                  Scoggin, Inc. its: general partner

                              By: /s/ Craig Effron
                                  -------------------------------------------
                                  Name: Craig Effron
                                  Title: President of Scoggin, Inc.

<PAGE>

                              STRATEGIC VALUE MASTER FUND, LTD, as Lender

                              By: /s/ Vivianne Hernandez
                                  -------------------------------------------
                                  Name:
                                  Title:

                              TRIAGE CAPITAL MANAGEMENT, LP, as Lender

                              By: /s/ Mark D. Wittman
                                  -------------------------------------------
                                  Name: Mark D. Wittman
                                  Title: Partner

                              VARDE PARTNERS, INC., as Lender

                              By: /s/ George G. Hicks
                                  -------------------------------------------
                                  Name: George G. Hicks
                                  Title: Managing Partner

                              WAYLAND DISTRESSED OPPORTUNITIES FUND I-B, LLC.,
                              as Lender

                              By: Wayzata Investment Partners, LLC
                                  its Manager

                              By: /s/ Joseph M. Deignan
                                  -------------------------------------------
                                  Name: Joseph M. Deignan
                                  Title: Authorized Signatory

                              WAYLAND DISTRESSED OPPORTUNITIES FUND I-C, LLC.,
                              as Lender

                              By: Wayzata Investment Partners, LLC
                                  its Manager

                              By: /s/ Joseph M. Deignan
                                  -------------------------------------------
                                  Name: Joseph M. Deignan
                                  Title: Authorized Signatory

<PAGE>

                                     CONSENT

                                                 Dated as of August 30, 2004

            Each of the undersigned, as a Grantor and/or Pledgor under the Third
Amended and Restated Security Agreement, dated as of September 13, 2002 (as
amended, supplemented or otherwise modified through the date hereof, the
"SECURITY AGREEMENT") and/or the Third Amended and Restated Pledge Agreement,
dated as of September 13, 2002 (as amended, supplemented or otherwise modified
through the date hereof, the "PLEDGE AGREEMENT"), in each case, in favor of the
Administrative Agent, for its benefit and the benefit of the Lenders parties to
the Credit Agreement referred to in the foregoing Third Standstill Agreement and
Amendment to the Credit Agreement (the "AGREEMENT"), hereby consents to such
Agreement and hereby confirms and agrees that (a) notwithstanding the
effectiveness of such Agreement, each of the Security Agreement and the Pledge
Agreement is, and shall continue to be, in full force and effect and is hereby
ratified and confirmed in all respects, except that, on and after the
effectiveness of such Agreement, each reference in the Security Agreement and
the Pledge Agreement to the "Credit Agreement", "thereunder", "thereof" or words
of like import shall mean and be a reference to the Credit Agreement, as amended
by such Agreement, and (b) the Security Documents to which such Grantor or such
Pledgor, as the case may be, 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).

                                CHOICE ONE COMMUNICATIONS INC.
                                CHOICE ONE COMMUNICATIONS OF NEW YORK INC.
                                CHOICE ONE COMMUNICATIONS OF PENNSYLVANIA INC.
                                CHOICE ONE COMMUNICATIONS OF MASSACHUSETTS INC.
                                CHOICE ONE COMMUNICATIONS INTERNATIONAL INC.
                                CHOICE ONE COMMUNICATIONS OF RHODE ISLAND INC.
                                CHOICE ONE COMMUNICATIONS OF CONNECTICUT INC.
                                CHOICE ONE COMMUNICATIONS OF MAINE INC.
                                CHOICE ONE OF NEW HAMPSHIRE INC.
                                CHOICE ONE COMMUNICATIONS OF OHIO INC.
                                CHOICE ONE COMMUNICATIONS OF VERMONT INC.
                                CHOICE ONE ONLINE INC.
                                CHOICE ONE COMMUNICATIONS OF VIRGINIA INC.
                                CHOICE ONE COMMUNICATIONS SERVICES INC.
                                US XCHANGE INC.
                                US XCHANGE OF INDIANA, L.L.C.
                                US XCHANGE OF ILLINOIS, L.L.C.
                                US XCHANGE OF WISCONSIN, L.L.C.
                                US XCHANGE OF MICHIGAN, L.L.C.

                                By: /s/ Ajay Sabherwal
                                   ---------------------------------------------
                                     Name:
                                     Title: Chief Financial Officer

<PAGE>

The Registrant has omitted from this filing the Schedules listed below.  The
Registrant will furnish supplementally to the Commission, upon request, a copy
of any omitted schedule.

Schedule I - Required
Principal Payments

Schedule II - Required
Interest Payments<PAGE>

EXHIBIT 10.2                                                      EXECUTION COPY

                 SECOND SUBORDINATED NOTES WAIVER AND AGREEMENT

            SECOND SUBORDINATED NOTES WAIVER AND AGREEMENT, dated as of August
30, 2004 (this "AGREEMENT"), among CHOICE ONE COMMUNICATIONS INC., a Delaware
corporation (the "COMPANY"), and each of the banks, financial institutions and
other institutional lenders listed on the signature pages hereto (each a "WAIVER
LENDER and collectively, the "WAIVER LENDERS").

                             PRELIMINARY STATEMENTS

      1.    The Company is a party to that certain Bridge Financing Agreement,
dated as of August 1, 2000, as amended by an Amendment Relating to Loans to
Employees Basket, dated as of June 30, 2001, a Second Amendment to Bridge
Financing Agreement, dated as of August 24, 2001, and a Third Amendment to
Bridge Financing Agreement, dated as of September 13, 2002 (as so amended, the
"BRIDGE FINANCING AGREEMENT"), among the Company, the banks, financial
institutions and other institutional lenders parties to the Bridge Financing
Agreement, including the Waiver Lenders (collectively, the "BRIDGE FINANCING
LENDERS"), and Morgan Stanley Senior Funding, Inc., as administrative agent (in
such capacity, the "BRIDGE FINANCING ADMINISTRATIVE AGENT") for the Bridge
Financing Lenders (as defined herein). Unless otherwise defined herein, terms
defined in the Bridge Financing Agreement and used herein shall have the
meanings given to them in the Bridge Financing Agreement.

      2.    The Company is also a party to that certain Third Amended and
Restated Credit Agreement, dated as of September 13, 2002, as amended by a
Letter Amendment and Waiver dated as of November 12, 2002, a Second Amendment
dated as of May 5, 2004, a Third Amendment dated as of May 12, 2004, a Fourth
Amendment dated as of May 25, 2004, and a Standstill Agreement and Conditional
Amendment to the Credit Agreement (the "FIRST STANDSTILL AGREEMENT"), dated as
of June 30, 2004 and a Second Standstill Agreement and Conditional Amendment
dated as of July 30, 2004 (the "SECOND STANDSTILL AGREEMENT") (as so amended,
the "CREDIT AGREEMENT"), among the Company, the subsidiaries of the Company
listed on the signature pages thereto (each a "BORROWER" and collectively the
"BORROWERS"), the banks, financial institutions and other institutional lenders
parties to the Credit Agreement (collectively, the "SENIOR FACILITY LENDERS"),
General Electric Capital Corporation, as administrative agent (in such capacity,
the "SENIOR FACILITY ADMINISTRATIVE AGENT"), collateral agent and syndication
agent for the Senior Facility Lenders, and the other agents signatories hereto.

      3.    The Company is also a party to that certain Subordinated Notes
Waiver and Agreement, dated as of July 30, 2004, among the Company and the
banks, financial institutions and other institutional lenders parties thereto.

      4.    Pursuant to the Bridge Financing Agreement, the Bridge Financing
Lenders have agreed to make, and have made, certain Loans and other extensions
of credit to the Company.

<PAGE>

      5.    Pursuant to the Credit Agreement, the Senior Facility Lenders have
agreed to make, and have made, certain loans and other extensions of credit
(collectively, the "SENIOR FACILITY LOANS") to the Borrowers.

      6.    Pursuant to Section 2.6 of the Credit Agreement (including after
giving effect to the First Standstill Agreement), on July 30, 2004, the
Borrowers were obligated to pay to the Revolving Credit Lenders (as defined
therein) outstanding Revolving Credit Loans (as defined therein) in the
principal amount listed on Schedule I to the Second Standstill Agreement (the
"REQUIRED REVOLVING LOAN PAYMENT").

      7.    Pursuant to Section 4.3 of the Credit Agreement (including after
giving effect to the First Standstill Agreement), on July 30, 2004, the
Borrowers were obligated to pay to the Term A Lenders, the Term B Lenders, and
the Term D Lenders (each as defined therein) outstanding Term A Loans, Term B
Loans and Term D Loans (each as defined therein) respectively, in the principal
amounts listed on Schedule I to the Second Standstill Agreement (collectively,
the "REQUIRED TERM LOAN PAYMENTS", and together with the Required Revolving Loan
Payments, the "REQUIRED PRINCIPAL PAYMENTS."

      8.    Pursuant to Section 5.1(e) of the Credit Agreement (including after
giving effect to the First Standstill Agreement), on July 30, 2004, the
Borrowers were obligated to pay to the Senior Facility Lenders interest on the
outstanding LIBOR Rate Loans (as defined therein) in such amounts listed on
Schedule II to the Second Standstill Agreement (collectively, the "REQUIRED JULY
INTEREST PAYMENTS").

      9.    The Borrowers failed to make the Required Principal Payments or the
Required July Interest Payments on July 30, 2004.

      10.   Pursuant to the Second Standstill Agreement, the Senior Facility
Lenders agreed, subject to the terms and conditions of the Second Standstill
Agreement, to forbear from demanding the Required Principal Payments and the
Required July Interest Payments until August 30, 2004.

      11.   Pursuant to Section 5.1(e) of the Credit Agreement (including after
giving effect to the First Standstill Agreement and the Second Standstill
Agreement), on August 30, 2004,the Borrowers are obligated to pay to the Senior
Facility Lenders interest on the outstanding LIBOR Rate Bank Loans (as defined
therein) in such amounts listed on Schedule II to the Senior Facility Agreements
(as defined below) (collectively, the "REQUIRED AUGUST INTEREST PAYMENTS," and
together with the Required Principal Payments and the Required July Interest
Payments, the "REQUIRED PAYMENTS").

      12.   In order to permit the Borrowers, the Company, the Senior Facility
Lenders and the Bridge Financing Lenders time to attempt to implement a possible
restructuring of the Senior Facility Loans and the Loans, the Borrowers and the
Company have requested that (i) the requisite Senior Facility Lenders under the
Credit Agreement agree to forbear from exercising any rights or remedies they
may have under the Credit Agreement or the other Loan Documents (as defined in
the Credit Agreement) that arose or may arise as a result of the Borrowers not
making the Required Payments on July 30, 2004 or August 30, 2004, as the case
may be

                                       2
<PAGE>

(collectively, the "REQUIRED PAYMENT DATE"), until September 30, 2004, on
and subject to the terms and conditions set forth in the Senior Facility
Agreements; and (ii) the Required Lenders waive any and all of their rights to
take any action with respect to the rights and remedies under the Bridge
Financing Agreement that arose or may arise as a result of the Borrowers not
making the Required Payments on the Required Payment Date.

      12.   The Waiver Lenders are members of an informal committee (the
"INFORMAL COMMITTEE") composed of Bridge Financing Lenders.

            NOW, THEREFORE, in consideration of the foregoing, and for other
good and valuable consideration the sufficiency and receipt of which are hereby
acknowledged, the parties hereto hereby agree as follows:

            SECTION 1. Waiver.

            (a) Upon and subject to the occurrence of the Waiver Effective Date
(as defined in Section 3 below) and subject to the other terms and conditions
set forth below, each of the Waiver Lenders agrees that, notwithstanding a
failure by the Borrowers to make the Required Payments on the Required Payment
Date, from and after August 30, 2004 until the first to occur of (i) September
30, 2004 (the "WAIVER PERIOD") or (ii) the date on which a Waiver Termination
Event (as defined below) shall have occurred (the first such date to occur, the
"WAIVER TERMINATION DATE"), such Waiver Lender waives any Default or Event of
Default under the Loan Documents that may arise as a result of (and only as a
result of) the Required Payments not being made on or before the Required
Payment Date.

            (b) Notwithstanding anything to the contrary contained in Section
1(a) hereof, on the Waiver Termination Date (i) the waiver set forth in Section
1(a) hereof shall automatically terminate and be of no further force or effect,
(ii) any Default or Event of Default that was the subject of or was waived under
Section 1(a) hereof (including the failure of the Borrowers to make any of the
Required Payments on the Required Payment Date) is, without further action,
reinstated and shall have the same force and effect as if the waiver had not
been granted pursuant hereto and (iii) subject to the terms of the Loan
Documents and applicable law, any Bridge Financing Lender may thereafter,
without limitation, sue, ask for or demand from the Company, payment of all
principal, interest and other amounts due and payable under the Loan Documents
to such Bridge Financing Lender, in whole or in part, and otherwise enforce any
of its rights and remedies (including rights of acceleration and foreclosure)
provided for under the Loan Documents against any party. In furtherance of the
foregoing and notwithstanding the occurrence of the Waiver Effective Date, the
Company agrees that, subject to the agreement of the Waiver Lenders to waive the
Default and Event of Default under the Loan Documents, as and to the extent
expressly set forth in this Agreement, all rights and remedies of the Bridge
Financing Lenders under the Loan Documents with respect to the Company shall
continue to be available to the Bridge Financing Lenders from and after the
Waiver Effective Date.

            (c)It is understood and agreed that interest shall continue to
accrue on and after the Waiver Effective Date on the outstanding Loans at the
applicable non-default rates provided for pursuant to the Loan Documents;
provided that it is also understood and agreed that from and after the date
hereof all subsequent Interest Periods will not exceed one month in duration.

                                       3
<PAGE>

            SECTION 2. Waiver Events. If any of the following events (each a
"WAIVER EVENT") shall occur and be continuing:

            (a) The Company shall (i) fail to pay all principal or interest on
any Loans, or any other amount payable hereunder or under any Loan Document,
when due in accordance with the terms of this Agreement or the Loan Documents,
as the case may be, or (ii) fail to comply with or breach any provisions of this
Agreement or of any Loan Document, other than the breach resulting from the
failure to make the Required Payments during the Waiver Period, subject (in the
case of clauses (i) and (ii) above) to applicable notice and grace periods, if
any; or

            (b) Any representation or warranty made or deemed made by the
Company herein or any representation or warranty made or deemed made hereafter
by the Company in any Loan Document or which is contained in any certificate,
document or financial or other statement furnished by it at any time under or in
connection with any such Loan Document shall prove to have been incorrect or
misleading in any material respect on or as of the date made or deemed made; or

            (c) Any of the Loan Documents to which the Company is a party shall
cease, for any reason (other than any termination in accordance with its terms),
to be in full force and effect, or the Company shall so assert, or any Lien
created by any of such Loan Documents shall (except to the extent released in
accordance with the terms of such Loan Documents) cease to be enforceable in
accordance with its terms; or

            (d) The commencement by or against any Borrower or the Company of
(i) any foreclosure, bankruptcy or similar proceeding, (ii) any proceeding that
threatens or contests the Liens in favor of the Bridge Financing Administrative
Agent or the obligations of the Company under the Loan Documents, (iii) any
proceeding by any Senior Facility Lender seeking to enforce any remedy with
respect to any Senior Facility Loans or related obligations other than for the
payment of the Required Payments by any Senior Facility Lender which is not a
party to the Senior Facility Agreements, or (iv) any other proceeding that could
have a Material Adverse Effect, or the commencement of a proceeding by or on
behalf of the Company against any Bridge Financing Lender, the Bridge Financing
Administrative Agent, any Senior Facility Lender or the Senior Facility
Administrative Agent; or

            (e) a Standstill Termination Event shall occur under the terms of
the Senior Facility Agreements (as defined herein),

then, upon the affirmative vote of the Required Lenders, such Waiver Event shall
constitute a "WAIVER TERMINATION EVENT". The occurrence of a Waiver Termination
Event shall cause the waiver granted under Section 1(a) of this Agreement to
immediately and automatically terminate and shall constitute an Event of Default
under the Bridge Financing Agreement and entitle the Bridge Financing Lenders to
exercise all of the rights and remedies exercisable upon an Event of Default
pursuant to the Bridge Financing Agreement, unless the Event of Default waived
hereunder shall have been cured or shall otherwise no longer be continuing.

            SECTION 3. Conditions to Effectiveness of Waiver and Agreement. This
Agreement shall be effective as of the date first above written when, and only
when, on or before

                                       4
<PAGE>

August 30, 2004, all of the following conditions precedent have been fulfilled
in a manner satisfactory to the Waiver Lenders (the "WAIVER EFFECTIVE DATE"):

            (a) the Required Lenders shall have signed this Agreement and the
Waiver Lenders shall have received counterparts of this Agreement executed by
the Company; and

            (b) the Waiver Lenders shall have received evidence of agreements
(the "SENIOR FACILITY AGREEMENTS"), in form and substance satisfactory to the
Waiver Lenders, that the requisite lenders under the Credit Agreement have
agreed, subject to the effectiveness of this Agreement, to forbear from
exercising any rights or remedies that they may have under the Credit Agreement
and the other loan documents relating thereto as a result of the Borrowers not
making the Required Payments on the Required Payment Date, until to the earlier
of September 30, 2004 or the occurrence of a Standstill Termination Event (as
defined therein); and

            (c) the Waiver Lenders shall have received evidence, in form and
substance satisfactory to the Waiver Lenders, that, subject to the effectiveness
of this Agreement, the conditions precedent set forth in Section 3 of the Senior
Facility Agreements have been satisfied; and

            (d) payment by the Company of all billed and unpaid fees and
expenses of the legal counsel and financial advisors to the Informal Committee
in connection with all matters relating to this Agreement and the Loan Documents
and the restructuring of the Borrowers and the Company.

            SECTION 4. Representations and Warranties of the Company. To induce
the Waiver Lenders to enter into this Agreement, the Company hereby represents
and warrants to the Waiver Lenders party hereto the following:

            (a) The execution, delivery and performance by the Company of this
Agreement are within the Company's corporate powers, have been duly authorized
by all necessary corporate action, and do not (i) contravene the Company's
constituent documents, (ii) violate any law (including, without limitation, the
Securities Exchange Act of 1934), rule, regulation (including, without
limitation, Regulation X of the Board of Governors of the Federal Reserve
System), order, writ, judgment, injunction, decree, determination or award
applicable to the Company, or (iii) conflict with or result in the breach of, or
constitute a default under, any contractual obligation, subject to Section 3(c)
hereof. As of the Waiver Effective Date, neither the Company nor any Borrower is
in violation of any such law, rule, regulation, order, writ, judgment,
injunction, decree, determination or award or, subject to the execution and
delivery of this Agreement by the Waiver Lenders, in breach of any such
contract, loan agreement, indenture, mortgage, deed of trust, lease or other
instrument, the violation or breach of which could reasonably be expected to
have a Material Adverse Effect.

            (b) No authorization or approval or other action by, and no notice
to or filing with, any governmental authority or regulatory body or, subject to
the execution and delivery of this Agreement by the Waiver Lenders, any other
third party is required to be obtained by the Company in connection with the
execution and delivery, or performance by the Company of any of its obligations
under, this Agreement.

                                       5
<PAGE>

            (c) This Agreement has been duly executed and delivered by the
Company and is the legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or other laws relating to or limiting creditors' rights or by
equitable principles generally.

            (d) Other than as expressly contemplated herein, (i) the
representations and warranties made by the Company in the Loan Documents, except
as may have been disclosed in the Company's public filings to date and other
than as provided in Section 3.16 of the Bridge Financing Agreement, are true and
correct in all material respects on and as of the date hereof, after giving
effect to the effectiveness of this Agreement, as if made on and as of the date
hereof (unless stated to relate solely to an earlier date, in which case such
representations and warranties were true and correct in all material respects as
of such earlier date) and (ii) no Default or Event of Default has occurred and
is continuing, other than the Default and Event of Default arising as a result
of the Borrowers not making the Required Payments on the Required Payment Date.

            (e) No default has occurred and is continuing under or in connection
with the Credit Agreement, other than any default arising as a result of the
Borrowers not making the Required Payments on the Required Payment Date.

            SECTION 5. Representations and Warranties of the Waiver Lenders. To
induce the Company to enter into this Agreement, each Waiver Lender, severally,
but not jointly, represents and warrants to the Company that such Waiver Lender
is the beneficial owner of the Notes in the principal amount set forth opposite
its signature to this Agreement.

            SECTION 6. Reference to and Effect on the Loan Documents.

            (a) The Bridge Financing Agreement and each of the other Loan
Documents are and shall continue to be in full force and effect and are hereby
in all respects ratified and confirmed.

            (b) The execution, delivery and effectiveness of this Agreement
shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any Bridge Financing Lender or the Bridge Financing
Administrative Agent under any of the Loan Documents, nor constitute a waiver of
any provision of any of the Loan Documents.

            SECTION 7. Amendments. This Agreement may not be amended,
supplemented or modified except in accordance with the provisions of this
Section 7. The Required Lenders and the Company may, or (with the written
consent of the Required Lenders) the Bridge Financing Administrative Agent and
the Company may, subject to the requirements of Section 9.02 of the Bridge
Financing Agreement, from time to time, (a) enter into written amendments,
supplements or modifications hereto for the purpose of adding any provisions to
this Agreement or changing in any manner the rights or obligations of the Waiver
Lenders or of the Company hereunder or (b) waive, on such terms and conditions
as the Required Lenders, or the Bridge Financing Administrative Agent, as the
case may be, may specify in such instrument, any of the requirements of this
Agreement or any Waiver Event and its consequences; provided, that, no such
waiver and no such amendment, supplement or modification shall amend, modify

                                       6
<PAGE>

or waive any provision of this Section 7 without the consent of each Bridge
Financing Lender party hereto. Any such waiver and any such amendment,
supplement or modification shall apply equally to each of the relevant Waiver
Lenders and shall be binding upon the Company, the Waiver Lenders, the Bridge
Financing Administrative Agent and all future Waiver Lenders.

            SECTION 8. Costs and Expenses. The Company agrees to pay all
reasonable costs and expenses associated with the preparation, execution,
delivery, administration, and enforcement of this Agreement and all related
matters during the Waiver Period including, without limitation, the reasonable
fees and expenses of the Informal Committee's counsel and financial advisor (in
each case, whether incurred prior to or after the Waiver Effective Date with
respect to this Agreement).

            SECTION 9. Tolling of Statute of Limitations. Each and every statute
of limitations or other applicable law, rule or regulation governing the time by
which any Waiver Lender must commence legal proceedings or otherwise take any
action with respect to exercising any of its respective rights, powers or
remedies directly or indirectly against the Company with respect to any breach
or default existing on or prior to the Waiver Termination Date, including,
without limitation, actions under or in respect of any of the Bridge Financing
Agreement or any other Loan Document, shall be tolled during the Waiver Period.
The Company agrees, to the fullest extent permitted by law, not to include such
period of time in any assertion by it at any time that a statute of limitations
or other applicable law, rule or regulation bars or otherwise acts as a defense
(whether equitable or legal) to any legal proceeding or other action by any
Bridge Financing Lender in exercise of its respective rights, powers or
remedies, directly or indirectly, with respect to any or all of the breaches or
defaults referred to in the immediately preceding sentence.

            SECTION 10. Agreement Not a Defense. The Company agrees that,
subject to the agreement of the Waiver Lenders to waive the Default and Event of
Default under the Loan Documents, as and to the extent expressly set forth
herein, the agreements of the Waiver Lenders under this Agreement shall not
constitute a waiver by any of the Waiver Lenders of, or a defense by the Company
to, the exercise by any of the Waiver Lenders of any right, power or remedy
which any of the Waiver Lenders may have under or in respect of the Bridge
Financing Agreement or any other Loan Document or any other agreement or
document relating thereto (and including rights, powers and remedies at law, in
equity or by statute).

            SECTION 11. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

            SECTION 12. Acknowledgments and Agreements.

            (a) Liens and Security Interests. The Company ratifies and reaffirms
the validity and enforceability (without defense, counterclaim or offset of any
kind) of the Liens and other security interests granted to secure any of the
Loans to and for the benefit of the Bridge Financing Lenders, pursuant to the
Loan Documents, subject in all respects to the Intercreditor Agreement. The
Company acknowledges and agrees that all such Liens and security interests

                                       7
<PAGE>

granted by it shall continue to secure the Loans from and after the effective
date hereof, subject in all respects to the Intercreditor Agreement. The Company
further agrees, subject in all respects to the Intercreditor Agreement, to take
promptly any and all actions reasonably requested by the Bridge Financing
Administrative Agent with respect to the granting, perfection and second
priority of the Liens, purported to be granted by the Loan Documents.

            (b) Validity of Obligations. The Company acknowledges and agrees
that it is truly and justly indebted to the Bridge Financing Lenders for the
payment of the principal, interest and other amounts payable by the Company
under the Loan Documents, without defense, counterclaim or offset of any kind,
and the Company ratifies and reaffirms the validity, enforceability and binding
nature of such indebtedness.

            SECTION 13. WAIVER OF JURY TRIAL. EACH OF THE COMPANY AND THE WAIVER
LENDERS IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE COMPANY OR ANY WAIVER LENDER IN
THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

            SECTION 14. Execution in Counterparts. This Agreement may be
executed by one or more of the parties to this Agreement on any number of
separate counterparts, and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.

         [THE REMAINDER OF THIS PAGE HAS BEEN LEFT BLANK INTENTIONALLY]

                                       8
<PAGE>

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

                                           CHOICE ONE COMMUNICATIONS INC.

                                           By: /s/ Ajay Sabherwal
                                              ----------------------------------
                                              Title: Chief Financial Officer

Principal Amount                           QUANTUM PARTNERS LDC
of Notes: $133,164,308.07

                                           By: /s/ Armando Belly
                                              ----------------------------------
                                              Authorized Signatory

Principal Amount                           CREDIT SUISSE FIRST BOSTON
of Notes: $54,914,352.00                   INTERNATIONAL

                                           By: /s/ Louis J. Impellizeri
                                              ----------------------------------
                                              Authorized Signatory

                                           By: /s/ Vittorie Selatoja
                                              ----------------------------------
                                              Authorized Signatory

Principal Amount                           WACHOVIA INVESTORS, INC.
of Notes: $31,844,468.21

                                           By: /s/ Robert Haley
                                              ----------------------------------
                                               Authorized Signatory
                                               Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]