ContractOffering Proceeds Note Subordination Agreement • December 7th, 2004 • Level 3 Communications Inc • Telephone communications (no radiotelephone) • New York
OFFERING PROCEEDS NOTE SUBORDINATION AGREEMENT dated as of December 1, 2004 among LEVEL 3 COMMUNICATIONS, INC. (“Level 3”), LEVEL 3 FINANCING, INC. (the “Borrower”), LEVEL 3 COMMUNICATIONS, LLC (“Level 3 LLC”), each Restricted Subsidiary (as defined in the Credit Agreement described below) that becomes party hereto as provided in Section 4.12 hereof (each such Subsidiary and Level 3 LLC individually, a “Subordinated Borrower”, and collectively, the “Subordinated Borrowers”), the BORROWER in its capacity as obligee of the Offering Proceeds Note (as defined below), and each Subsidiary that becomes party hereto as provided in Section 4.13 hereof (each such Subsidiary, Level 3 and the BORROWER in its capacity as obligee of the Offering Proceeds Note individually, a “Subordinated Lender”, and collectively, the “Subordinated Lenders”).
