Deed of Confirmation and Amendment



 EXHIBIT 4.595 
 EXECUTION VERSION 
 The taking of this document or any certified copy of it or any
document which constitutes substitute documentation for it, or any document which includes written confirmations or references to it, into Austria as well as printing out any e-mail communication which refers to any Loan Document in Austria or
sending any e-mail communication to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail communication carrying an electronic or digital signature which refers to any Loan Document to an Austrian addressee may
cause the imposition of Austrian stamp duty. Accordingly, keep the original document as well as all certified copies thereof and written and signed references to it outside of Austria and avoid printing out any email communication which refers to
any Loan Document in Austria or sending any e-mail communication to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail communication carrying an electronic or digital signature which refers to any Loan
Document to an Austrian addressee. 
 DATED 28 SEPTEMBER 2012 

REYNOLDS CONSUMER PRODUCTS INC. (FORMERLY REYNOLDS FOIL INC.) 
 AND 
 THE BANK OF NEW YORK MELLON 

AS COLLATERAL AGENT 
  

 
 DEED OF
CONFIRMATION AND AMENDMENT 
  
  







 THIS DEED is made the
28th day of September 2012 

BETWEEN: 
  

	(1)	REYNOLDS CONSUMER PRODUCTS INC. (formerly REYNOLDS FOIL INC.), a corporation formed under the laws of Delaware (the “Company”); and


  

	(2)	THE BANK OF NEW YORK MELLON in its capacity as collateral agent as appointed under the First Lien Intercreditor Agreement for the Secured Parties (the
“Collateral Agent”) 

 WHEREAS: 

 

	(A)	The Company has entered into the security over cash agreement dated 19 December 2011 in favour of the Collateral Agent (the “Security Assignment”)
pursuant to (i) a credit agreement dated as of 5 November 2009 (as subsequently amended and restated on 9 August 2011) between, among others, Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC (formerly Reynolds
Consumer Products Holdings Inc.), Closure Systems International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Reynolds Group Holdings Limited, Closure Systems International B.V., Pactiv LLC (formerly Pactiv
Corporation), the other borrowers party thereto, the guarantors from time to time party thereto, the lenders from time to time party thereto, and Credit Suisse AG, as administrative agent (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”), (ii) an indenture dated 5 November 2009 between Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral agent, as modified, amended or supplemented from time to time (the “2009 Senior Secured Notes Indenture”), (iii) an indenture dated 15 October 2010 and entered into between, among
others, RGHL US Escrow I Inc., RGHL US Escrow I LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited,
as additional collateral agent as modified, amended or supplemented from time to time (the “2010 Senior Secured Notes Indenture”), (iv) an indenture dated 1 February 2011 and entered into between, among others, Reynolds
Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer (Luxembourg) S.A. and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited, as
additional collateral agent as modified, amended or supplemented from time to time (the “February 2011 Senior Secured Notes Indenture”) and an indenture dated 9 August 2011 and entered into between, among others, RGHL US Escrow
II Inc., RGHL US Escrow II LLC and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited, as additional collateral agent as modified, amended or
supplemented from time to time (the “August 2011 Senior Secured Notes Indenture”). 

  

	(B)	 In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior
Secured Notes Indenture and the August 2011 Senior Secured Notes Indenture, certain parties to those 



  
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documents have entered into a first lien intercreditor agreement dated 5 November 2009 (as subsequently amended pursuant to Amendment No. 1 and Joinder Agreement dated as of
January 21, 2010) between, among others, The Bank of New York Mellon as collateral agent and representative under the indenture, Credit Suisse AG as representative under the credit agreement, Wilmington Trust (London) Limited as an additional
collateral agent and each grantor that are parties thereto (the “First Lien Intercreditor Agreement”). 

  

	(C)	The parties to the Credit Agreement have entered into an amendment no. 7 and incremental term loan assumption agreement dated on or about the date hereof to amend and
restate the terms of the Credit Agreement (including Annex A attached thereto, “Amendment No. 7”). 

  

	(D)	Pursuant to an indenture (the “September 2012 Senior Secured Notes Indenture”) dated on or about the date hereof and entered into between, among
others, the Issuers (as defined therein) and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited, as additional collateral agent, certain secured notes
(the “September 2012 Senior Secured Notes”) were issued by the Issuers. 

  

	(E)	The obligations in respect of the September 2012 Senior Secured Notes and any Senior Secured Note Documents (as defined in the September 2012 Senior Secured Notes
Indenture) will or have been designated as “Additional Obligations” under, and in accordance with, section 5.02(c) of the First Lien Intercreditor Agreement and the September 2012 Senior Secured Notes Indenture and the Senior Secured Note
Documents (as defined in the September 2012 Senior Secured Notes Indenture) are therefore “Additional Agreements” under the First Lien Intercreditor Agreement (the “Secured Notes Designation”). 


 

	(F)	As a consequence of the execution of the September 2012 Senior Secured Notes Indenture it is necessary for the Company to make certain amendments to the Security
Assignment, and enter into this Deed. 

 NOW THE PARTIES HEREBY AGREE: 

 

	1.	In this Deed (including its recitals), unless otherwise defined herein terms defined in the First Lien Intercreditor Agreement shall have the same meaning when used in
this Deed. 

  

	2.	With effect from the date of this Deed, the Security Assignment shall be amended as follows: 


 

	 	(a)	In Clause 1.1 (Definitions) the existing definition of “Agreed Security Principles” shall be deleted in its entirety and replaced with the following:


 ““Agreed Security Principles” has the meaning given to such term in the Credit Agreement,
the 2009 Senior Secured Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture, the August 2011 Senior Secured Notes Indenture and the September 2012 Senior Secured Notes Indenture and, to the
extent of any inconsistency, the meaning in the Credit Agreement prevails.” 

  
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	 	(b)	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement” shall be deleted in its entirety and replaced with the following:


 ““Credit Agreement” means the third amended and restated credit agreement dated
28 September 2012 among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC (formerly Reynolds Consumer Products Holdings Inc.), SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc., Closure
Systems International B.V., Pactiv LLC (formerly Pactiv LLC), SIG Austria Holding GmbH, Beverage Packaging Holdings (Luxembourg) III S.à r.l., Evergreen Packaging Inc. and Reynolds Consumer Products Inc. as borrowers, Reynolds Group Holdings
Limited, the guarantors from time to time party thereto, the lenders from time to time party thereto and Credit Suisse AG as administrative agent, as further amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time.” 
  

	 	(c)	In Clause 1.1 (Definitions) the existing definition of “First Lien Intercreditor Agreement” shall be deleted in its entirety and replaced with the
following: 

 ““First Lien Intercreditor Agreement” means the First Lien Intercreditor
Agreement dated 5 November 2009 between, among others, the Collateral Agent, The Bank of New York Mellon, as trustee under the 2009 Senior Secured Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior Secured Notes
Indenture, the August 2011 Senior Secured Notes Indenture and the September 2012 Senior Secured Notes Indenture, Credit Suisse AG, as administrative agent under the Credit Agreement, and the Loan Parties, as further amended, novated, supplemented,
restated or modified from time to time.” 
  

	 	(d)	In Clause 1.1 (Definitions) the existing definition of “Principal Finance Documents” shall be deleted in its entirety and replaced with the following:


 ““Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured Notes
Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture, the August 2011 Senior Secured Notes Indenture, the September 2012 Senior Secured Notes Indenture, the Intercreditor Arrangements and any
Additional Agreement.” 
  

	 	(e)	In Clause 1.1 (Definitions) the definition of “Future Senior Secured Notes” shall be deleted. 


 

	 	(f)	In Clause 1.1 (Definitions) the following new definition of “September 2012 Issuers” shall be inserted in alphabetical order: 


““September 2012 Issuers” means the “Issuers” under, and as defined in, the September 2012 Senior Secured
Notes Indenture, including their successors in interest.” 
  

	 	(g)	In Clause 1.1 (Definitions) the following new definition of “September 2012 Senior Secured Notes Indenture” shall be inserted in alphabetical order:


 ““September 2012 Senior Secured Notes Indenture” means the indenture dated
28 September 2012 among the September 2012 Issuers and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited, as additional collateral agent, as
amended, extended, restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from time to time.” 

  
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	 	(h)	Clauses 5 (b)–(e) (Further Advances) shall be deleted in their entirety and replaced with the following: 


“5 (b) Subject to the terms of the Loan Documents, each 2009 Issuer may issue Additional Notes (as defined in the 2009 Senior
Secured Notes Indenture) and the obligations in respect of such Additional Notes will be deemed to be incorporated into this Agreement as if set out in this Agreement. 
 5 (c) Subject to the terms of the Loan Documents, each 2010 Issuer may issue Additional Senior Secured Notes (as defined in the 2010 Senior Secured Notes Indenture) and the obligations in respect of
such Additional Senior Secured Notes will be deemed to be incorporated into this Agreement as if set out in this Agreement. 
 5
(d) Subject to the terms of the Loan Documents, each February 2011 Issuer may issue Additional Senior Secured Notes (as defined in the February 2011 Senior Secured Notes Indenture) and the obligations in respect of such Additional Senior
Secured Notes will be deemed to be incorporated into this Agreement as if set out in this Agreement. 
 5 (e) Subject to the
terms of the Loan Documents, each August 2011 Issuer may issue Additional Senior Secured Notes (as defined in the August 2011 Senior Secured Notes Indenture) and the obligations in respect of such Additional Senior Secured Notes will be deemed to be
incorporated into this Agreement as if set out in this Agreement. 
 5(f) Subject to the terms of the Loan Documents, each
September 2012 Issuer may issue Additional Senior Secured Notes (as defined in the September 2012 Senior Secured Notes Indenture) and the obligations in respect of such Additional Senior Secured Notes will be deemed to be incorporated into this
Agreement as if set out in this Agreement.” 
  

	3.	The Company confirms that, with effect from the date of this Deed, the Security Assignment shall continue in full force and effect as amended by this Deed and extends
to the obligations in respect of the Credit Agreement as amended by Amendment No. 7 and to the obligations in respect of the Additional Agreements (as defined in the First Lien Intercreditor Agreement) as a result of the Secured Notes
Designation. 

  

	4.	The Company hereby represents that it has not registered one or more “establishments” (as that term is defined in regulation 2 of Part 1 of The Overseas
Companies Regulations 2009) with the Registrar of Companies or, if it has so registered, it has provided to the Applicable Representative and the Collateral Agent sufficient details to enable an accurate search against it to be undertaken by the
Secured Parties at the Companies Registry. 


  
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	5.	This Deed is supplemental to and shall be construed as one with the Security Assignment and all documents or instruments which are expressed to supplement the Security
Assignment shall be construed accordingly. 

  

	6.	This Deed may be executed in two or more counterparts each of which shall be deemed an original but which together shall constitute one and the same instrument.


  

	7.	This Deed and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with English law.


  

	8.	The courts of England have exclusive jurisdiction to settle any dispute (a “Dispute”) arising out of, or connected with this Deed (including a dispute
regarding the existence, validity or termination of this Deed or the consequences of its nullity) or any non-contractual obligations arising out of or in connection with this Deed. 


 

	9.	The parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes between them and, accordingly, that they will not argue
to the contrary. 

  

	10.	Clauses 8 to 10 (inclusive) of this Deed are for the benefit of the Collateral Agent only. As a result and notwithstanding Clause 8, it does not prevent the Collateral
Agent from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions. 


 

	11.	For the avoidance of doubt, notwithstanding anything contained herein, each of the protections, immunities, rights, indemnities and benefits conferred on the Collateral
Agent under the Security Assignment and the First Lien Intercreditor Agreement shall continue in full force and effect and shall apply to this Deed as if set out in full herein. 


  
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 IN WITNESS whereof this Deed has been duly executed as a deed by the Company and understood by the
Collateral Agent on the day and year first before written. 
  

			
	The Company	    	
		
	Signed as a deed by Helen Golding	    	) /s/ Helen Golding
		    	)
		    	)
	REYNOLDS CONSUMER PRODUCTS	    	)
	INC. (formerly REYNOLDS FOIL INC.)	    	)
	acting by its duly authorised representative	    	)
	in the presence of:	    	)

  

			
	Signature of witness	  	/s/ Karen Mower
		
	Name of witness	  	Karen Mower
		
	Address of witness	  	Sydney, Australia
		
	Occupation of witness	  	Lawyer

  

			
	The Collateral Agent
	
	Signed by THE BANK OF NEW YORK MELLON


			
		
	By:	 	/s/ Catherine F. Donohue
		
	Name:	 	Catherine F. Donohue


			
		
	Address:	 	The Bank of New York Mellon
		 	101 Barclay Street, Floor 4E, New York, NY 10286, USA
	
	Fax: +1 212 815 5366
	
	Attention: International Corporate Trust


  
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