Document:

EX-10.8

 Exhibit 10.8 

 
 

 

  
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	 CP
	  	 Document
	  	 Required Form

		  	I. Corporate Documents	  	
		  	 1.      Directors’ certificate with respect to the corporate documents, the
company’s solvency, specimen signatures
	  	
	(1)	  	 a)      Alcan Singen GmbH
	  	Original
	(2)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Original
	(3)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Original
		  	 2.      Excerpt from the commercial register (dated less than 2 weeks prior to
signing)
	  	
	(4)	  	 a)      Alcan Singen GmbH
	  	Inspection of Online Register
	(5)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Inspection of Online Register
	(6)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Certified Copy
		  	 3.      Articles of Association
	  	
	(7)	  	 a)      Alcan Singen GmbH
	  	Copy
	(8)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Copy
	(9)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Copy
		  	 4.      Shareholder list
	  	
	(10)	  	 a)      Alcan Singen GmbH
	  	Copy
	(11)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Copy
		  	 5.      Shareholder Resolution approving the terms and conditions of the transaction; no
changes to corporate documents; specimen signatures
	  	
	(12)	  	 a)      Alcan Singen GmbH
	  	Copy
	(13)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Copy
	(14)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Copy
		  	 6.      Board Resolution approving the terms and conditions of the transaction; no changes
to corporate documents, specimen signatures
	  	
	(15)	  	 a)      Alcan Aluminium Valais SA, Sierre
	  	Copy
		  	 7.      Power of Attorneys (if somebody different from the companies’ authorized
representatives will be signing any document)
	  	If applicable
	(16)	  	 a)      Alcan Singen GmbH
	  	Original
	(17)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Original
	(18)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Original
		  	II. Legal Opinions	  	
	(19)	  	 a)      Legal Opinion delivered by CC and satisfactory to the GE Capital in respect of the
capacity and authority of the German Sellers in connection with the execution and performance of the Factoring Agreement and all other related transaction documents
	  	PDF, Original to follow

  
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	 CP
	  	 Document
	  	 Required Form

	(20)	  	 b)      Legal Opinion delivered by WWP in respect of the capacity and
authority of the Swiss Seller in connection with the execution and performance of the Factoring Agreement and all other related transaction documents
	  	PDF, Original to follow
	(21)	  	 c)      Legal Opinion delivered by Mayer Brown and satisfactory to GE Capital
relating to the validity of the AR Financing Facilities Documents and all other relevant transaction documents under German law
	  	PDF, Original to follow
	(22)	  	 d)      Legal Opinion delivered by Pestalozzi and satisfactory to GE Capital relating
to the validity of the AR Financing Facilities Documents and all other relevant transaction documents under Swiss law
	  	PDF, Original to follow
		  	III. AR Financing Facilities Documents	  	
		  	 1.      Alcan Singen GmbH
	  	
	(23)	  	 a)      Customary information reasonably satisfactory to GE Capital on the existing relevant
receivables to be purchased
	  	PDF
	(24)	  	 b)      Singen RPA
	  	Original/PDF
		  	 2.      Alcan Aluminium Presswerke GmbH
	  	
	(25)	  	 a)      Customary information reasonably satisfactory to GE Capital on the existing relevant
receivables to be purchased
	  	PDF
	(26)	  	 b)      German AAP RPA
	  	Original/PDF
		  	 3.      Alcan Aluminium Valais SA, Sierre
	  	
	(27)	  	 a)      Customary information reasonably satisfactory to GE Capital on the existing relevant
receivables to be purchased
	  	PDF
	(28)	  	 b)      Factoring Agreement
	  	Original/PDF
	(29)	  	 c)      Country Specific Amendment
	  	Original/PDF
	(30)	  	 4.      Fee Letter
	  	Original/PDF
	(31)	  	 5.      Intercreditor Agreement
	  	Original/PDF
	(32)	  	 6.      Parent Guarantee (Germany)
	  	Original/PDF
		  	IV. Credit Insurance	  	
		  	 1.      Alcan Singen GmbH
	  	
	(33)	  	 a)      Receipt of credit insurance policies
	  	
	(34)	  	 b)      Standard credit insurance information, evidencing that in each year, the maximum annual
indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors
	  	PDF
	(35)	  	 c)      Trade Credit Insurance Agreement
	  	Original
	(36)	  	 d)      Trade Credit Insurance Assignment Agreement
	  	Original
			
		  	 i)       Coface
	  	
			
		  	 ii)     ACE European Group (Limit Plus)
	  	
			
		  	 iii)    Euler Hermes
	  	
		  	 2.      Alcan Aluminium Presswerke GmbH
	  	
	(37)	  	 a)      Receipt of credit insurance policies
	  	PDF
	(38)	  	 b)      Standard credit insurance information, evidencing that in each year, the maximum annual
indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors
	  	PDF
	(39)	  	 c)      Trade Credit Insurance Agreement
	  	Original

  
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	 CP
	  	 Document
	  	 Required Form

	(40)	  	 d)      Trade Credit Insurance Assignment Agreement
	  	Original
			
		  	 i)       Coface
	  	
		  	 3.      Alcan Aluminium Valais SA, Sierre
	  	
	(41)	  	 a)      Receipt of credit insurance policies
	  	PDF
	(42)	  	 b)      Standard credit insurance information, evidencing that in each year, the maximum annual
indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors
	  	PDF
	(43)	  	 c)      Trade Credit Insurance Agreement
	  	Original
	(44)	  	 d)      Trade Credit Insurance Assignment Agreement
	  	Original
			
		  	 i)       Coface
	  	
		  	V. Collection Accounts	  	
		  	 1.      Alcan Singen GmbH
	  	
	(45)	  	 a)      Account Pledge Agreement
	  	Original
		  	 2.      Alcan Presswerke
	  	
	(46)	  	 a)      Account Pledge Agreement
	  	Original
		  	 3.      Alcan Aluminium Valais SA, Sierre
	  	
	(47)	  	 a)      Account Assignment/Pledge Agreement
	  	Original
			
		  	 i)       Credit Suisse
	  	
			
		  	 ii)     Deutsche Bank
	  	
		  	VI. Consent letter, if applicable, with respect to those debtors with a ban of assignment clause	  	
	(48)	  	 a)      Alcan Singen GmbH: 1
	  	PDF
			
		  	 b)      Alcan Aluminium Presswerke GmbH: not applicable
	  	
			
		  	 c)      Alcan Aluminium Valais SA, Sierre: 2
	  	
		  	VII. Know-Your-Customer	  	
	(49)	  	 1.      Alcan Singen GmbH
	  	PDF
	(50)	  	 2.      Alcan Aluminium Presswerke GmbH
	  	PDF
	(51)	  	 3.      Alcan Aluminium Valais SA, Sierre
	  	PDF
		  	VIII. Receivables	  	
		  	 1.      Statement re Reimbursement Claims, e.g. current status of bonuses granted,
etc.
	  	
	(52)	  	 a)      Alcan Singen GmbH
	  	PDF
	(53)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	PDF
	(54)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	PDF
		  	 2.      Statement re Tolling/Pseudo Tolling Reimbursement Claims
	  	
	(55)	  	 a)      Alcan Singen GmbH
	  	PDF
	(56)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	PDF
	(57)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	PDF
		  	 3.      VAT information
	  	
	(58)	  	 a)      Alcan Singen GmbH
	  	PDF
	(59)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	PDF
	(60)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	PDF
		  	IX: Miscellaneous	  	
		  	 1.      Auditor Agreement (sec. 13.4 of the factoring agreement)
	  	
	(61)	  	 a)      Alcan Singen GmbH
	  	Original
	(62)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	Original

  
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	 CP
	  	 Document
	  	 Required Form

	(63)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	Original
		  	 2.      Negative pledge confirmations (corresponding re-assignments if necessary) of all
financing banks and investors
	  	
	(64)	  	 a)      Alcan Singen GmbH
	  	PDF
	(65)	  	 b)      Alcan Aluminium Presswerke GmbH
	  	PDF
	(66)	  	 c)      Alcan Aluminium Valais SA, Sierre
	  	PDF
		  	 3.      Evidence regarding the Completion of the Acquisistion
	  	
	(67)	  	Copy of the executed share purchase agreement between inter alia AIF VII Euro Holdings, L.P. and Rio Tinto in the form agreed by GE Factofrance.	  	PDF
	(68)	  	Written confirmation by Wachtell, Lipton, Rosen & Katz that the Acquisition has been completed.	  	PDF
		  	X: Swiss Taxes / VAT	  	
	(69)	  	 1.      True sale tax ruling
	  	PDF
	(70)	  	 2.      VAT Tax Ruling re no acceleration
	  	PDF
	(71)	  	 3.      VAT Ruling re no secondary liability
	  	PDF

  
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 Annex 1 
 Transfer of French Receivables 
 FRENCH PROVISIONS 

Reference is made to a factoring agreement to be dated 16 December 2010 and entered into between Alcan Aluminium Valais SA and GE CAPITAL (the
“Factoring Agreement”). 
 Capitalised terms defined in the Factoring Agreement have, unless expressly defined in this
Agreement, the same meaning in this Agreement. 
 The following clauses of the Factoring Agreement shall be amended/replaced and shall read as
follows: 
  

	1.	AMENDMENTS TO THE FACTORING AGREEMENT 

  

	(a)	The parties agree to amend Clause 2.2 of the Factoring Agreement in respect of the assignment of French Receivables by following paragraphs 2.2.1 to 2.2.5:

 “2.2.1 For the purpose of effecting the transfer of the French Receivables pursuant to the Factoring
Agreement, GE CAPITAL and the ORIGINATOR shall follow the steps and procedure described below. 
 2.2.2 Transfer mode

 On each Transfer Date, the transfer of French Receivables from the ORIGINATOR to GE CAPITAL shall be performed by way of a
transfer document (acte de cession de créances professionnelles) complying with articles L. 313-23 et seq. and articles R. 313-15 et seq. of the French Monetary and Financial Code (Code Monétaire et
Financier) and in the form set out in Schedule 1 (a French Transfer Document). 
 2.2.3 Procedure 

The ORIGINATOR shall offer to sell French Receivables on each Transfer Date by sending the original of a duly signed French Transfer
Document in the form set out in Schedule [1]. The Computer File is attached to each French Transfer Document. The Computer File attached to this French Transfer Document shall allow the identification and individualization of the said French
Receivables. 
 By no later than [6] p.m. on the Transfer Date, GE CAPITAL shall sign and insert the date on the French Transfer
Document. The signed and dated French Transfer Document shall constitute the acceptance of GE CAPITAL to purchase the French Receivables offered pursuant to the offer to sell. 
 2.2.4 Legal consequences 
 The French Receivables together with any ancillary right
attached thereto, shall be transferred to GE CAPITAL and such transfer shall be, as matter of French law: 
  

	 	(a)	valid between GE CAPITAL and the ORIGINATOR; 

  

	 	(b)	enforceable against the corresponding French Debtors; and 

  

	 	(c)	enforceable against third parties, 

 without any other formality, and irrespective of the law governing the French Receivables
and the law of the jurisdiction where the corresponding French Debtors are resident, in accordance with articles L. 313-23 et seq. and articles R. 313-15 et seq. of the French Monetary and Financial Code (Code Monétaire et
Financier) as of the date affixed on the relevant French Transfer Document, on which the relevant French Transfer Document is signed by GE CAPITAL provided however that: 
 (i) the corresponding Debtors and provided may validly discharge their respective debts under the corresponding Receivables by making payment to the relevant ORIGINATOR until a notice of
transfer in the form of Schedule [2] is served to them; and 
 (ii) the corresponding Debtors may assert all defences
(including set-off) arising prior to a notice of transfer referred to in sub-clause (i) above is served on them. 
 2.2.5
Governing law 
 This Clause 2.2 shall be governed by French law.” 

 

	(b)	The parties agree to amend Clause 3 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following Clause 3.2. (the
remaining paragraphs of Clause 3 being redenominated accordingly): 

 “3.2 On each Transfer Date, GE
CAPITAL shall accept to purchase all the French Receivables set out in an ORIGINATOR’s offer to sell, it being provided that the ORIGINATOR shall have identified in each offer to sell those of the Receivables which fulfill the following
criteria (the French Eligible Receivables) and those which does not fulfill those criteria (the French Non Eligible Receivables): 
  

	 	(i)	the Offer Letter is correct and complete and was dispatched by the ORIGINATOR within the time line set out in clause 2.3 of the Factoring Agreement;

  

	 	(ii)	the relevant French Receivable is Eligible; 

  

	 	(iii)	the French Debtor has been granted a payment term not exceeding 60 days after the relevant invoice date; 

 

	 	(iv)	the relevant French Receivable is not a claim against an Affiliated Company; 

 

	 	(v)	the relevant French Receivable is within the scope of the Debtor Limit; 

  

	 	(vi)	the sum of the amount of the relevant Receivable and all other purchased and unpaid French Receivables against the relevant French Debtor or debtor credit unit –
within the meaning of § 19 of the German Banking Act – does not exceed 30% of all purchased and unpaid French Receivables of the ORIGINATOR against all of his French Debtors; 

 

	 	(vii)	the payment of the purchase price in respect of the purchased Receivable will not result in and excess of the Maximum Commitment; 

 

	 	(viii)	the legal relationship from which such French Receivables arise is governed by French law. 

 

	 	(ix)	the contracts pursuant to which such French Receivables arises do not contain a confidentiality clause or a clause banning the transfer of such French Receivables or
requesting the approval of the parties of the purchaser of such French Receivables; 

  

	 	(x)	such French Receivable is a valid obligation enforceable against the French Debtor; 

  
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	 	(xi)	the payment of such French Receivable in full is (subject to any contractual set-off and right of counterclaim) legally enforceable against the Originator to whom the
invoice is addressed ; 

  

	 	(xii)	the transfer by the Originator to GE CAPITAL of such French Receivable, GE CAPITAL’s ownership of such French Receivable and the transfer to GE CAPITAL of
information about a French Debtor is not made in violation of: 

  

	 	•	 	 the contract pursuant to which such French Receivable arises or any other agreement to which the Originator is a party to an extend that would have a
material adverse effect on the legal transferability or collectability of, or the legal title of GE CAPITAL to such French Receivable; or 

  

	 	•	 	 any applicable laws; 

  

	 	(xiii)	the principal outstanding amount of such French Receivable, as notified in the relevant invoice, is the amount due in respect of that French Receivable under the
relevant contract; 

  

	 	(xiv)	all sums due from or obligations owed by the Originator to the French Debtor have been paid or performed and the Originator does not have any other obligations towards
the French Debtor which, in either case, would give the French Debtor such right to reduce the amount payable for the French Receivable; 

  

	 	(xv)	the correct name and address of the French Debtor and any required purchase order number appear on each invoice or credit note, on any documents evidencing the French
Receivable as required and on the invoice; 

  

	 	(xvi)	the contracts pursuant to which such French Receivable arises have not been entered into with suppliers of the Originator; and 

 

	 	(xvii)	the contracts pursuant to which such French Receivables arise have not been entered into with a public sector company.” 

 

	(c)	The parties agree to amend Clause 4 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following Clause 4.2 (the
remaining paragraphs of Clause 4 being redenominated accordingly): 

 “4.2 On each Transfer Date, the
purchase price for the French Receivables purchased on that date shall be equal to the aggregate Nominal Amount of the French Eligible Receivables purchased on that date, reduced by deductions relating to the relevant French Eligible Receivable
(such as discounts) that were granted to the relevant French Debtor by the ORIGINATOR, and deducting the Factoring Commission and Interest. 
 If a French Non Eligible Receivable becomes a French Eligible Receivable after its Transfer Date because of a modification of the applicable Debtor Limit or otherwise, GE CAPITAL shall then pay to the
ORIGINATOR an additional purchase price equal to the aggregate Nominal Amount of such French Receivable that have become eligible after the Transfer Date, reduced by deductions relating to the relevant French Receivables (such as discounts) that
were granted to the relevant French Debtor by the ORIGINATOR, and deducting the Factoring Commission and Interest. 
 In the
Bad Debt Case, the purchase price is reduced by the VAT amount included in the Receivable which the ORIGINATOR must claim from the tax authorities (see clause 6.4), at the time the legal prerequisites allowing a recovery of such VAT
amounts are fulfilled. GE CAPITAL undertakes to provide the ORIGINATOR with all information and documents necessary for claiming such VAT amounts from tax authorities. 

  
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 The purchase price regarding the French Receivables purchased on any given Transfer Date
(excluding the Purchase Price Reserve and subject to the settlement of Interest) shall fall due when such French Receivables are purchased. Interest will be charged monthly in arrears. 

Any payments in respect of the purchase price and any charges are made by book entry by GE CAPITAL on the Settlement Account.”

  

	(d)	The parties agree to supplement Clause 19 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following paragraphs 19.5 to
19.7: 

 “19.5 The ORIGINATOR, after having offered to sell the French Receivables to GE CAPITAL,
undertakes not to cancel or vary any of the following with respect to such French Receivable; 
  

	 	•	 	 any contract pursuant to which a French Receivable arises; or 

 

	 	•	 	 any related rights; or 

  

	 	•	 	 any payment terms or settlement discounts; 

 without GE CAPITAL’s written consent; 
 19.6 The ORIGINATOR undertakes to make
sure that every contract pursuant to which a French Receivable arises shall only be entered into in the ordinary course of its trading activities as disclosed to GE CAPITAL;” 

 

	(e)	The parties agree to supplement Clause 2 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following paragraph 2.5:

 “2.5 The ORIGINATOR represents and warrants that the receivables identified in the Offer Letter as
being French Eligible Receivables, comply with the eligibility criteria set out in Clause 3.2 of the Factoring Agreement.” 
  

	(f)	The parties agree to supplement Clause 4.1 of the Factoring Agreement in respect of the assignment of French Receivables by the following paragraph 4.6:

 “4.1 The purchase price for each purchased French Receivable shall be deemed to be inclusive of any
value added tax (VAT) (if any) and GE CAPITAL shall not be required to increase the purchase price for such VAT.” 
  

	(g)	The parties agree to replace Clause 6 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following paragraph 6.3 (the
remaining paragraphs of Clause 6 being redenominated accordingly): 

 “6.3 Bad Debt Case means,
for the French Receivables, that the relevant Debtor: 
 (a) fails to pay a Receivable within 120 days after its
due date without disputing its obligation to pay prior to or after the expiry of such period; or 
 (b) is in situation of
état de cessation des paiements or is subject to bankruptcy proceedings (sauvegarde, redressement or liquidation judiciaire) or amicable reorganisation (conciliation or mandat ad hoc) or is in a
situation or is subject to a procedure similar to those referred to above.” 

  
 - 40 -

	(h)	The parties agree to supplement Clause 6 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following paragraph
6.6: 

 “6.6 GE CAPITAL hereby grants power of attorney and appoints the ORIGINATOR to act as its
agent, in its name and behalf, pursuant to the terms of a mandate (mandat) which the ORIGINATOR hereby accepts to collect and recover from the relevant tax administration, VAT which has already been paid or accounted for in respect of
assigned French Receivables which have become uncollectible.” 
  

	(i)	The parties agree to supplement Clause 6 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following paragraph 6.7:

 “6.7 The ORIGINATOR shall take such steps and do all things as may be necessary or appropriate for the
recovery and/or reimbursement from the relevant tax administration of the amount of VAT which has already been paid or accounted for in respect of assigned French Receivables which have become uncollectible and are eligible for such recovery and/or
reimbursement from the relevant tax administration. 
 Furthermore, the ORIGINATOR, acting as servicer of the assigned French
Receivables shall transfer to GE CAPITAL the amount of VAT bad debt relief corresponding to the said assigned French Receivables that shall be recovered from, or refunded by, the relevant tax administration.” 

 

	(j)	The parties agree that Clause 8.1 of the Factoring Agreement shall not apply to the French Receivables. 

 

	(k)	The parties agree to amend Clause 11.1(b) of the Factoring Agreement in respect of the French Receivables by the following paragraph 11.1(b):

 “any and all claims for delivery of such assets, in particular in the event of an unwinding of the
contract, as well as the right to rescind the contract including, for the French Receivables, any retention of title right over the goods delivered by the ORIGINATOR under such contract” 

 

	(l)	The parties agree to amend Clause 13 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following paragraph 13.2 (the
remaining paragraphs of Clause 13 being redenominated accordingly): 

 “13.2.1 In the Disclosed
Procedure for the French Receivables, GE CAPITAL (i) will notify the French Debtors of each Transfer Date by delivering a notice of transfer in the form of Schedule 2 and, (ii) may request any or all French Debtors to accept the
assignment of French Receivables owing by them in accordance with article L.313-29 of the French Monetary and Financial Code. 

In addition, the ORIGINATOR will indicate on its invoices a clearly visible note of assignment.” 

 

	(m)	The parties agree to supplement Clause 21 of the Factoring Agreement in respect of the French Receivables by inserting the following paragraph 21 (h):

 “(h) Notwithstanding paragraph (c) above, the transfer of the French Receivables made in accordance
with Clause 2 shall be governed by French law and the competent court of Paris have exclusive jurisdiction to settle any dispute in relation with such assignment.” 

  
 - 41 -

	(n)	The parties agree to supplement Clause 24 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following paragraph:

 “All amounts expressed to be payable by the ORIGINATOR (including without limitation the Factoring
Commission) shall be deemed to be exclusive of VAT (if any). If VAT is chargeable on such amounts, the amounts payable by the ORIGINATOR shall be increased by the amount of such VAT.” 

 

	(o)	The parties agree to amend or supplement Section F (Definitions) of the Factoring Agreement in respect of the assignment of French Receivables by adding the
following definitions: 

 Computer File: electronic file containing all the relevant information
(including all the information set out in Clause 3.1) for the purpose of identifying and individualizing (including, inter alia, the name and details of the French Debtor, the invoice number, the invoice issue date and the due date) the French
Receivables which are owned by the Originator as at the relevant Transfer Date. 
 Debtors: All present and future
counterparties of the ORIGINATOR to contracts (including the French Debtors) pursuant to which the ORIGINATOR owes the delivery of goods and/or the rendering of services for which the relevant counterparty owes payment, provided that the Debtors
included in the factoring agreement are set out in schedule 1 (Terms and Conditions). 
 French Debtor: any Debtor of a
French Receivable. 
 French Receivable: any Receivable which is governed by French law and owed by a French Debtor,
together with the related rights listed in clause 11.1 of this agreement . 
 Transfer Date: the date on which the
ORIGINATOR sends an Offer Letter to GE CAPITAL, in accordance with clause 2.3 of this agreement. 
 Receivables: all
existing and future payment receivables arising under agreements for the delivery of goods and/or the rendering of services by the ORIGINATOR vis-à-vis its Debtors (including the French Receivables). 

Any and all other provisions of the Factoring Agreement shall apply and shall remain unaffected hereby. 

  
 - 42 -

 

 

  
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 Translation for information purposes only 

FRENCH TRANSFER DOCUMENT 
 governed by the provisions of Articles L. 313-23 to L. 313-34 of the French Code monétaire et financier 
  

	1.	THE SELLER 

[Name of the Seller] [type of company], having its registered office at [—], registered with the [—], under the number [—], represented by
[—], duly authorised for the purpose hereof (the Seller). 
  

	2.	THE PURCHASER 

 GE
CAPITAL BANK AG [type of company], having its registered office at [—], registered with the [—], under the number [—], , represented by [—], duly authorised for the purpose hereof (the Purchaser). 

 

	3.	DATE 

 The date of
delivery of the Transfer Document to the Purchaser:                      [Date to be affixed by the Purchaser]. 

 

	4.	TRANSFER OF RECEIVABLES 

The Seller transfers to the Purchaser the receivables (Receivables) referred to in paragraph 5 without warranty or recourse other
than those provided for the existence of the Receivables and the security and ancillary rights attached thereto in accordance with the provisions of the Factoring Agreement (the Agreement) dated
[—], in accordance with the terms and conditions described in such Agreement. The transfer of the Receivables occurs on the date of this transfer document. 

 

	5.	TRANSFERRED RECEIVABLES 

The transferred receivables (the Receivables) correspond to [number of Receivables] (including their ancillary rights) being
defined as French Receivables, having an outstanding amount of [to be inserted] and that constitute all the Receivables named [to be inserted] in the computer file delivered with this transfer document. 

PURCHASE PRICE 
 [The total purchase price of the Receivables provided for in Article 5 is [amount] and is payable in accordance with Clause 4 (Purchase Price, Due Date, Reserves, Factoring Commission, Interest) of
the Agreement. 
  

	6.	GENERAL 

 Capitalised
terms and expressions used herein in English shall, unless the context requires otherwise, have the meaning ascribed to them in the Agreement. 

  
 - 45 -

			
	  

	[NAME OF SELLER]
		
	by:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	
	
	  

	[NAME OF PURCHASER]
		
	by:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	

  
 - 46 -

 

 

  
 - 47 -

 

 

  
 - 48 -

 Translation for information purposes only 

FORM OF LETTER OF NOTIFICATION 
 NOTIFICATION TO THE FRENCH DEBTOR OF THE TRANSFER OF RECEIVABLES IN ACCORDANCE TO ARTICLE 313623 TO 313-34 OF THE FRENCH MONETARY AND FINANCIAL CODE 

[place], [date] 
 Registered letter with
recorded delivery 
 Dear Sirs, 

Notification to the French Debtor of the transfer of French Receivables in accordance to Article 313-23 to 313-34 of the French Monetary and Financial
Code 
 We refer to a Factoring Agreement dated [—] 2010 entered into between [—] as Seller and GE CAPITAL BANK as Purchaser (the Agreement) and to the French Transfer Document dated [—], under which transfer of receivables has
been made to our benefit. 
 In accordance with article L.313-23 to L.313-34 of the French Monetary and Financial Code, [—] has transferred to us the following receivables in respect of which you are the debtor: 
  

																	
	 Transferred Debtor
	  	Contract under
which the
transferred
receivable arise	 	 	Amount or
valuation of the
transferred
receivable	 	 	Contemplated
place of payment	 	 	Maturity date	 
	 [—]
	  	 	[	—] 	 	 	[	—] 	 	 	[	—] 	 	 	[	—] 

 In accordance with the provisions of article L.313-28 of the French Monetary and Financial Code, we hereby instruct you
to stop making payment of any sum due under the receivables to [—]. As from the date of receipt of this notice, we also instruct you to make payment of such sum due by your company under the
receivables by direct debit bank transfer to the credit of the following bank account: 
 Name of the beneficiary: 

Account Bank: 
 Swift: 

Account number: 
 IBAN: 

Moreover, pursuant to Article R. 313-16 of the French Monetary and Financial Code, we hereby request you that all present and future invoice(s)
not in our possession relating to the Receivables include the following compulsory mention: “The receivable arising out of the present invoice has been assigned to GE Factofrance SNC pursuant to Articles L. 313-23 à L. 313-34 of the
French Monetary and Financial Code. Payment must be made by wire transfer to the following account No. [Insert IBAN references] with [Insert name of bank account]. 

  
 - 49 -

			
	Done in [—]
		
	On	 	  

		
	[—]	 	
		
	By:	 	  

		
	Name:	 	  

  
 - 50 -

 

 

 ANNEX 2 
 FORM OF OFFER LETTER 
 B. English 

 

							
	 GE Capital Bank AG

Heinrich-von-Brentano-Str. 2
 55130
Mainz
	 		  	Submission No.:	  	1
	 		  		  	
	 		  	ORIGINATOR number:	  	001 /
	 		  		  	
	 		  	ORIGINATOR:	  	 
		 		  		  	 
	Currency:      EURO	 		  		  	 

Change in inventory Intercredit-process 
 On the basis of the concluded Factoring Agreement between us, please find enclosed the following listed documents. We would like to offer you the sale and assignment of the account receivables which are
specified by the enclosed invoices and files. The goods which we have invoiced have been delivered. Goods on consignment have not been billed. The enclosed receipts regarding credit balances state the respective reason. 

 

													
	+	 	 	  	 Copies of invoices amounting to
 (acc. to enclosed addition slip)
	  	 	  	old balance:	  	 
		 		  		  		  		  		  	
	+	 	 	  	 Copies of debit entries amounting to
 (acc. to enclosed addition slip)
	  	 	  		  	
		 		  		  		  		  	sub-total:	  	 
					 		
		 		  		  		  	 	  		  	
		 		  		  		  		  		  	
	./.  	 	 	  	 Credit balances amounting to
 (acc. to enclosed addition slip)
	  	 	  		  	
		 		  		  		  		  		  	
		 		  		  	Receipt of payment net	  	 	  		  	
		 		  		  		  	 	  		  	
		 		  		  		  		  		  	
		 		  		  	 + deductions
  
	  	 	  		  	
		 		  		  		  		  		  	
	./.	 		  		  	Receipt of payment gross	  	 	  		  	
		 		  		  		  	 	  		  	
							 
		 		  		  		  		  	new balance:	  	 

 

							
	  
	 		 	  

	Place, Date	 		 	Stamp and legally binding signature
	  
	 		 	  

  
 - 52 -

 ANNEX 3 
 TRADE CREDIT INSURANCE AGREEMENT 
 Supplement Agreement 

to a Factoring Agreement 
 between 
 GE Capital Bank AG, 

Heinrich-von-Brentano-Straße 2, 
 55130 Mainz, Germany 
 hereinafter referred to as “GE Capital”

 and 

[—] ,
[—], 
 hereinafter referred to as “Originator”

 The Originator has entered into a trade credit insurance agreement [insurance policy
no.[—]] with [—] [insurance company]. As a part of this agreement certain credit limits are assigned to the Originator’s customers from
time to time. 
 GE Capital will use these limits as a basis for the allocation of the Debtor Limits pursuant to section 7 of the Factoring
Agreement. GE Capital, however, reserves the right to modify the Debtor Limits higher or lower than set by the credit insurer’s granted limits within the boundaries of the Factoring Agreement. Within the limit set out by GE Capital, GE Capital
assumes the Bad Debt Coverage (Delkrederehaftung) pursuant to section 6 of the Factoring Agreement. 
 GE Capital must be informed
without undue delay (unverzüglich) about any granting, changes and cancellations of limits of which the Originator is aware of by way of electronic transfer (i.e. the Originator shall provide GE Capital per email with scanned copies of
the granted/changed/cancelled limits, as applicable). 
 The Originator undertakes to pay the remuneration (fees, costs, etc.) when due to the
credit insurer in accordance with the insurance policy. 
 The Originator hereby undertakes to assign the payment claims against the credit
insurer in accordance with the separate assignment agreement and to request the credit insurer to approve the terms of such assignment. Furthermore, the Originator shall request the credit insurer to accept that GE Capital shall conduct the
collection procedure upon revocation of the Undisclosed Procedure. The relevant declarations are to be provided to GE Capital as soon as they have been received from the relevant credit insurance provider. 

Mainz, Germany, [—]            [—], [—] 

  
 - 53 -

							
	GE CAPITAL BANK AG
				
		 	  
	 		 	  

	Signed by:	 	[—]	 		 	[—]
				
	Title:	 	[—]	 		 	[—]
				
	[—]	 		 		 	
				
		 	  
	 		 	  

	Signed by:	 	[—]	 		 	[—]
				
	Title:	 	[—]	 		 	[—]

  
 - 54 -

 

 

  
 - 55 -

							
	GE CAPITAL BANK AG
				
		 	  
	 		 	  

	Name:	 	[—]	 		 	[—]
				
	Position:	 	[—]	 		 	[—]
				
	[—]	 		 		 	
				
		 	  
	 		 	  

	Name:	 	[—]	 		 	[—]
				
	Position:	 	[—]	 		 	[—]

  
 - 56 -

 ANNEX 4 
 ASSIGNMENT AGREEMENT ON TRADE CREDIT INSURANCE 
 We, the company 

[—], 
 hereby assign the existing and future claims against 
 [—] 
 arising under the Trade Credit Insurance in relation to sold and/or assigned receivables to

 [Insurance Policy No. [—]] 

to 
 GE Capital Bank AG

 Heinrich-von-Brentano-Straße 2 
 55130 Mainz 
 Simultaneously, the Trade Credit Insurer is authorized to pass decisions of limits
directly to GE Capital Bank AG. GE Capital Bank AG and the Trade Credit Insurer are authorized to mutually exchange any necessary information. 
  

			
	[Place[—], date[—]]	 	  

		
		 	Company’s stamp/Signatures

 Hereby we accept the assignment:. 
 Mainz, [date
[—]] 

  
 - 57 -

 CE Capital Bank AG 

  
 - 58 -

 NOTIFICATION OF ASSIGNMENT TO TRADE CREDIT INSURER 

[Drafting note: Depending on with which insurance companies the ORIGINATOR has entered into credit insurance agreements, the relevant following drafts
shall be used:] 
 a) Euler Hermes: 
  

			
		 	Björn Hemp
		 	Neukundenbetreuer
		 	GE Capital Bank AG
		 	T +49 (0) 6131 4647 486
	Euler Hermes Kreditversicherungs AG	 	M +49 (0) 162 205 4249
	Niederlassung Mitte	 	F +49 (0) 6131 809 337
	Hans-Joachim Schieffer	 	E bjoern.hemp@ge.com
	Große Gallusstraße 1-17	 	
	60311 Frankfurt	 	
		
	[date [—]]	 	
		
	Assignment Agreement by [company [—]]	 	
		
	[insurance policy no. [—]]	 	

 Dear Madam or Sir, 
 The aforementioned company has assigned their existing and future claims in relation to sold and assigned receivables arising under or in connection with the Trade Credit Insurance against Euler Hermes
Kreditversicherungs-AG pursuant to insurance policy no. [—] 
 to us, 

GE Capital Bank AG 
 Heinrich-von-Brentano-Straße 2 
 55130 Mainz, Germany

 (see enclosure). 
 Kindly
confirm your approval to us in writing as to the aforementioned assignment agreement. In case you approve, kindly have all payments resulting from the claims paid to the bank account 
 Account No: 300 111 
 BIN: 550 305 00 

SWIFT: HRBKDE 51 
 IBAN:
DE    5503 0500 0300 11. 
 Furthermore, kindly include the clause “insurance coverage for sold claims”
(“Versicherungsschutz für verkaufte Forderungen”) and thus GE Capital Bank AG as additionally insured company to the contract. As to the collection of receivables, kindly authorize GE Capital Bank AG, Mainz, Germany, to conduct
the collection procedure in addition to Euler Hermes Forderungsmanagement GmbH. 

  
 - 59 -

 We appreciate your effort. 
 Kind regards 
 GE Capital Bank AG 
 Enclosures 

  
 - 60 -

			
	b) Coface	 	
		 	Björn Hemp
		 	Neukundenbetreuer
		 	GE Capital Bank AG
		 	T +49 (0) 6131 4647 486
		 	M +49 (0) 162 205 4249
		 	F +49 (0) 6131 809 337
	Coface Kreditversicherung AG	 	E bjoern.hemp@ge.com
	Isaac-Fulda-Allee 1	 	
	55124 Mainz	 	

 [date [—]] 

Assignment Agreement by [company [—]] 
 [insurance policy no. [—]] 
 Dear Madam
or Sir, 
 The aforementioned company has assigned their existing and future claims in relation to sold and/or assigned receivables arising
under or in connection with the Trade Credit Insurance against Coface Kreditversicherung AG pursuant to insurance policy no. [—] 
 to us, 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 
 55130 Mainz, Germany 
 (see enclosure). 

Kindly confirm your approval to us in writing as to the aforementioned assignment agreement. In case you approve, kindly have all payments resulting from
the claims paid to the bank account 
 Account No: 300 111 

BIN: 550 305 00 
 SWIFT: HRBKDE 51 
 IBAN: DE    5503 0500 0300 11

 In connection with the assignment of the claims to payment under the above-mentioned insurance policy, we are happy to confirm to you
that proceeds from any security granted and other amounts paid by the insured company that were transferred to us under the Factoring Agreement, will still be deducted in the damage calculation of the credit insurer under the terms of the Trade
Credit Insurance Agreement (together with standard conditions of insurance and supplementary provisions). This also applies to the indemnifications of 

  
 - 61 -

 
the above mentioned security or any other payments provided. The credit insurer is entitled to the proceeds of collateral and other payments after the indemnification of the credit insurer up to
the amount of indemnification, whereupon a new damage settlement takes place under proportional allocation (Indemnity / Deductible). 
 We will
inform the credit insurer immediately about the respective proceeds and other payments. 
 At the same time we will transfer the receivables
underlying the indemnification including the reservation of property rights, which adhere to these receivables. 
 Furthermore we ask you to
file GE Capital Bank AG, Heinrich-von Brentano-Straße 2, 55130 Mainz as a further collection agency (Inkassostelle). 
 We
appreciate your effort. 
 Kind regards 
 GE Capital Bank AG 
 Enclosure 

  
 - 62 -

 

 

  
 - 63 -

 CE Capital Bank AG 

  
 - 64 -

 

 

 

 

  
 - 66 -

 

 

  
 - 67 -

 

 

  
 - 68 -

 ANNEX 5 
 ACCOUNT PLEDGE AGREEMENT 
 Account Pledge and Trust Agreement

 the “Agreement” 
 between 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2, 55130 Mainz, Germany 
 -hereinafter referred to as “GE CAPITAL”- 
 as Trustor and Pledgee

 and 

[—], [—] 

-hereinafter referred to as “ORIGINATOR” 
 as Trustee and Pledgor 
 1. Pledged Account, Obligation to Transfer 

1.1 GE CAPITAL and the ORIGINATOR have entered into a Factoring Agreement under which GE CAPITAL acquires accounts receivables from the ORIGINATOR
owed by its debtors, thus GE CAPITAL is entitled to debtors’ payments. 
 1.2 The ORIGINATOR and GE CAPITAL hereby agree that the
ORIGINATOR’s following bank account shall be the Pledged Account as defined in the Factoring Agreement: 

Account-No.: [—]    Account Bank: Deutsche Bank
AG    BLZ/IBAN: [—] 
 1.3 The ORIGINATOR is obliged vis-à-vis GE
CAPITAL to forward to GE CAPITAL without undue delay all incoming payments to the Pledged Account as well as all payments otherwise received from debtors. 
 2. Pledge 
 2.1 To secure any and all of GE CAPITAL’s present and future claims against
the ORIGINATOR pursuant to section 1.3 and arising out of the Factoring Agreement, in particular from clause 5 of the Factoring Agreement, and its performance, and to secure any and all other present and future claims of GE CAPITAL against
the 

  
 - 69 -

 
ORIGINATOR arising from the business relationship, the ORIGINATOR hereby pledges any and all of its rights to payment of any and all future credits (surplus) relating to the Pledged Account,
which the ORIGINATOR is entitled to, regarding balances from current accounts (Kontokorrent) of the Pledged Account as well as the rights to the daily balance resulting from the current account agreement related to current payouts
between balancing of accounts, including the right to transfer any credits standing to the account of the Pledged Account and the right to credit the received amounts (altogether “Claims on Credit and from Credit”) to GE
CAPITAL. GE CAPITAL hereby accepts such pledge. 
 3. Collection Authority (Einziehungsermächtigung)

 3.1 The ORIGINATOR is solely entitled to claim performance in favor to GE CAPITAL. 

3.2 GE CAPITAL is solely entitled to collect all Claims on Credit and from Credit – especially even those prior to the maturity of the pledge
(Pfandreife). 
 3.3 GE CAPITAL undertakes vis-à-vis the ORIGINATOR to pay out to the ORIGINATOR any amount paid into the
Pledged Accounts which have been made towards any receivables which have verifiably not been assigned or transferred to GE CAPITAL under or in connection with the Factoring Agreement. 

4. Trust Arrangement and waiver from the confidentiality obligation 
 4.1 The ORIGINATOR and GE CAPITAL agree that the Pledged Account is held by the ORIGINATOR as a Trustee on its own behalf but only for the sole purpose of providing security for GE CAPITAL (the
“Trust Arrangement”). The funds and assets paid to the Pledged Account shall be transferred to GE CAPITAL only. The ORIGINATOR is obliged to refrain from disposing of any amounts standing to the credit of the Pledged Account
and not to otherwise charge the Pledged Account. If any of the ORIGINATOR’s debtors pay to any account other than the Pledged Account, the ORIGINATOR agrees to forward these payments to GE CAPITAL or to a Pledged Account
without undue delay. 
 4.2 The ORIGINATOR hereby releases the account bank vis-à-vis GE CAPITAL from any confidentiality obligations
with respect to the Pledged Account. 
 5. Notification, Receipt and Subordination / Waiver 

5.1 The ORIGINATOR agrees vis-à-vis GE CAPITAL to notify the account bank of the pledge, the Collection Authority
(Einziehungsermächtigung), the Trust Arrangement and the waiver from the confidentiality obligations (Notification). 
 5.2
Furthermore the ORIGINATOR undertakes to provide GE CAPITAL with the account bank’s acknowledgement whereupon the account bank: 
 (a)
confirms the receipt of the Notification; and explains that 
 (b) has not been provided with any other notifications of pledges and that the
account bank has no knowledge of other third party rights with respect to the Pledged Account; 
 (c) subordinates any of its statutory
pledges to pledges created pursuant to this Agreement – except for the following claims as set out under section 5.3 below – and unconditionally and irrevocably waives any retention and set-off rights that it may have with respect to the
ORIGINATOR’s receivables due from the Pledged Account as well as to other pledged account deductions (the “Subordination / Waiver”); 
 (d) issues bank statements to both the ORIGINATOR and GE CAPITAL in accordance with the ORIGINATOR’s order to issue bank statements and related data / documents in paper or digital form; 

  
 - 70 -

 (e) acknowledges that the ORIGINATOR is only entitled to request payments for Claims on Credit and from
Credit to GE CAPITAL and that only GE CAPITAL is entitled to collect the Claims on Credit and from Credit – also prior to the maturity of the pledge. 
 5.3 The Subordination / Waiver shall not apply with respect to claims arising from and relating to: 
 (a) cancellation and correction entries; 
 (b) reversals of reserved bookings (e.g.
check or direct debit) and unintentional payments; 
 (c) fees and other account charges or fees in the context of normal business;

 provided, however, that such claims as set out in these sections 5.3 a – c above arise in connection with the Pledged Account and
do not derive from a different relationship between the ORIGINATOR and the account bank. 
 5.4 GE CAPITAL hereby declares vis-à-vis the
account bank (§328 / German Civil Code) that the Trust Arrangement between GE CAPITAL and the ORIGINATOR does not affect the account bank’s subordinated pledge and that GE CAPITAL is jointly and severally liable in addition to the
ORIGINATOR for all claims, arising from the issues mentioned in 5.3. 
 6 ORIGINATOR’s guarantee 

6.1 The ORIGINATOR represents and warrants that there are no rights of third parties related to the pledged claims and rights, except for the pledges
pursuant to the account bank’s standard terms and conditions (AGB-Pfandrechte). 
 6.2 It’s the ORIGINATOR’s duty to
promptly notify GE CAPITAL in case of third parties claiming such rights. 
 7. Authorization 

7.1 The ORIGINATOR authorizes GE CAPITAL to notify the account bank of the pledge and to receive any declarations from the account bank. GE CAPITAL and
the ORIGINATOR agree to inform each other about any declarations received from the account bank without undue delay. 
 7.2 The
ORIGINATOR’s obligation as set out in section 5 above remains unaffected by this precautionary issued Authorization. 
 8. Other
Regulations 
 8.1 This Agreement and a security interest of GE CAPITAL, constituted after or due to this Agreement shall be valid and will
not be released until all secured debt has been paid in full under the appropriate conditions. 
 8.2 If any provisions of this agreement are or
become unlawful, invalid or infeasible, the lawfulness / validity or feasibility of the remaining provisions will not be affected thereby. 

8.3 This Agreement shall be governed by German law. 
 8.4 This Agreement shall be executed in the German and the English language; both versions, the German as well as the English language versions shall be binding versions. The German version shall prevail
in case of any discrepancy between the German and the English version. 

  
 - 71 -

			
	[place [—]], [date [—]]	 	  

		
	Mainz, [date [—]]	 	  

		
		 	GE CAPITAL BANK AG

  
 - 72 -

 Pledge of Accounts between [—], [—], [—] and GE Capital Bank AG, Heinrich-von-Brentano-Straße 2, 55130 Mainz, Germany 

Account-No: [—], BLZ/IBAN: [—] – hereinafter
referred to as “Pledged Account” 
 Dear [—], 

We hereby notify you of the fact that by agreement dated [—] we pledged any and all present and future
claims to payment of any and all present and future credits (surplus), which we are entitled to, regarding balances from current accounts (Kontokorrent), as well as the rights to the daily balance resulting from the current account agreement
related to current payouts between balancing of accounts, including the right to transfer any credits standing to the account and the right to credit the received amounts (altogether “Claims on Credit and from Credit”) to GE Capital Bank
AG, Heinrich-von-Brentano-Straße 2, 55130 Mainz, Germany. 
 Notwithstanding of the statutory scheme, GE Capital Bank AG is exclusively
entitled to collect all Claims in Credit and from Credit – especially prior to the maturity of the pledge (Pfandreife). We are only entitled to demand performance to GE Capital Bank AG. 

Furthermore we release you vis-à-vis GE Capital Bank AG from any confidentiality obligation, especially from the banking secrecy, with respect to
the Pledged Account. We hereby instruct you to send to GE Capital Bank AG duplicates of bank statements or copies of the bank statements and, on request, the corresponding data / supporting documents in paper or digital form. We also agree
that GE Capital Bank AG receives an electronic authorization information (elektronische Auskunftsberechtigung) related to the Pledged Account. 
 Kindly confirm to GE Capital Bank AG that you have not received any other notification of a pledge relating to the Pledged Account and that you do not have any knowledge of any third parties rights
relating to the Pledged Account. 
 Furthermore, kindly subordinate your pledges to the pledge granted to GE Capital Bank AG and waive
any retention and set-off rights that you may have with respect to the Pledged Account as well as any other deductions from the Pledged Account (the “Subordination / Waiver”) 

The Subordination / Waiver does not apply to claims arising from or in connection with cancellation and correction bookings, reversals of reserved
bookings (e.g. check or direct debit) and unintentional payment as well as fees and other account charges or fees in the ordinary course of business, provided that the relevant facts exclusively concerns the Pledged Account and are not due to
any other relation between you and us. 
 We keep the Pledged Account as a trustee for GE Capital Bank AG. The trust arrangement between
GE Capital Bank AG and us does not affect your subordinated pledge to be remained unaffected. The payments received to the Pledged Account only serve the purpose to be transferred to GE Capital Bank AG. 

The pledge of the account shall terminate as soon as GE Capital Bank AG will have notified you of a respective release. 

Furthermore we inform you that GE Capital Bank AG has assumed the joint and several liability (§328 / German Civil Code) for your rights
against us arising from or in connection with the cancellation and correction bookings, reversals of reserved bookings and unintentional payments as well as fees and other account charges or fees in the ordinary course of business, provided that the
relevant facts concern exclusively the Pledged Account and is not due to any other relation between you and us. 

  
 - 73 -

 We ask you to acknowledge the receipt of this notice and that you agree with the above regulations by
sending the confirmation legally valid signed by you to GE Capital Bank AG. 
 Kind regards, 

  
 - 74 -

 To 

GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 
 55130
Mainz, Germany 
 Notification of account pledge re Account-No. [—], BLZ/IBAN [—], Account Holder: [—], [—], [—] 

Dear Madam or Sir, 
 We refer to the notice
dated [—] of [name[—]] and confirm the receipt of the notification of the pledge. 
 We hereby acknowledge, 
  

	a)	that we have not received any other notification of pledge and that we don’t know about any third party rights in respect to this account.

  

	b)	that we subordinate all our pledges to the pledge created in favor of GE Capital Bank AG and unconditionally and irrevocably waive any of our retention and set-off
rights that we may have with respect to the pledged account as well as other deductions from the pledged account (Subordination / Waiver). 

 The Subordination / Waiver shall not apply with respect to claims arising from and relating to cancellation and correction entries, reversals of reserved bookings (e.g. check or direct debit) and
unintentional payments, fees and other account charges or fees in the context of normal business, provided that such claims arise in connection with the pledged account and do not derive from a different relationship between us and the pledgor.

 We have taken notice of the fact that GE Capital Bank AG has taken over the joint and several liability (§ 328 /
German Civil Code) for our claims against the ORIGINATOR arising from and relating to cancellation and correction entries, reversals of reserved bookings and unintentional payments, fees and other account charges or fees in the context of normal
business, provided that, however, that such claims arise in connection with the pledged account and do not derive from a different relationship between us and the ORIGINATOR. 

 

	c)	to consider that the pledgor is solely entitled to claim performance in favor of GE Capital Bank AG and that GE Capital Bank AG is entitled particularly to collect the
claims from credits – especially even prior to the maturity of the pledge (Pfandreife). We will respect the Collection Authority (Einziehungsermächtigung) by GE Capital Bank AG especially prior to maturity of the pledge, even
in the case of bankruptcy or any revocation of the ORIGINATOR. 

  

	d)	that we send duplicates of bank statements or copies of bank statements and – on request – the corresponding data / supporting documents in paper or digital
form to GE Capital Bank AG and that GE Capital Bank AG receives an electronic authorization of information for the pledged account. 

  

	The	pledge of the account shall be terminated if GE Capital Bank AG has shown us the release of the lien. 

  
 - 75 -

 Kind regards 
 Deutsche Bank AG 

  
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 - 84 -EX-10.9

 Exhibit 10.9 
 

 
  

 

 

  
 2 

 

 

  
 3 

 

 

  
 4 

 

 

  
 5 

  
 

 

  
 6 

  
 

 

  
 7 

  
 

 

  
 8 

  
 

 

  
 9 

  
 

 

  
 9 

 ANNEX 2 
 FORM OF OFFER LETTER 
 A. English 

 
  

					
	 GE Capital Bank
AG
 Heinrich-von-Brentano-Str. 2
	  	Submission No.:	  	1
	55130 Mainz	  		  	
	 	  	ORIGINATOR	  	  

001 /
  

	 		 
	 	  	 ORIGINATOR:

 
	  	 
		  		  	 
	  
 Currency:
        
  
	  		  	 
			 
		  		  	 

 Change in inventory Intercredit-process 
 On the basis of the concluded Factoring Agreement between us, please find enclosed the following listed documents. We would like to offer you the sale and assignment of the account receivables which are
specified by the enclosed invoices and files. The goods which we have invoiced have been delivered. Goods on consignment have not been billed. The enclosed receipts regarding credit balances state the respective reason. 

 

											
	 	  	 Copies of invoices amounting to

(acc. to enclosed addition slip)
	  	 	  	old balance:	  	 	  	
		  		  		  		  		  	
	 	  	 Copies of debit entries amounting to
 (acc. to enclosed addition slip)
	  	 	  		  		  	
		  		  		  	  
 sub-total:

 
	  	 	  	
			 			
		  		  	 	  		  		  	
		  		  		  		  		  	
	 	  	 Credit balances amounting to

(acc. to enclosed addition slip)
	  	 	  		  		  	
		  		  		  		  		  	
		  	 Receipt of payment net

 
	  	 	  		  		  	
		  		  		  		  		  	
		  	 + deductions

 
	  	 	  		  		  	
		  		  		  		  		  	
		  	 Receipt of payment gross

 
	  	 	  		  		  	
		  		  		  	  
 new balance:

 
	  	 	  	

  

							
	  Place, Date	 		  	Stamp and legally binding signature	  	

  
 10 

  
 

 

  
 11 

 ANNEX 4 
 ASSIGNMENT AGREEMENT ON TRADE CREDIT INSURANCE 
 We, the company 

Alcan Aluminium Valais SA, 3960 Sierre, Switzerland, 
 hereby assign the existing and future claims against 
 Coface S.A., (Compagnie
Françcaise d’Assurance pour le Commerce Extérieur S.A.), Succursale Suisse, Rue Belle-Fontaine 
 18, CP431,
CH-1001 Lausanne (Switzerland) 
 arising under the Trade Credit Insurance in relation to sold and/or assigned receivables to 

Insurance Policy No. 221 255 
 to 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 
 55130 Mainz 
 Simultaneously, the Trade Credit Insurer is authorized to pass decisions of limits
directly to GE Capital Bank AG. GE Capital Bank AG and the Trade Credit Insurer are authorized to mutually exchange any necessary information. 

This agreement will become effective on the date on which all conditions precedent as stated in the Factoring Agreement dated 16 December 2010 are
fulfilled to the satisfaction of GE CAPITAL. GE CAPITAL will confirm vis-à-vis the ORIGINATOR the fulfilment of the conditions precedent and the commencement of this agreement (Condition Precedent). 

 

			
	[Place[—], date[—]]	 	  

		 	Company’s stamp/Signatures

 Hereby we accept the assignment:. 
 Mainz, [date [—]] 
 CE Capital Bank AG

  
 12 

  
 

 

  
 13 

  
 

 

  
 14 

 

 
  

  
 15 

 

 
  

  
 16 

 CE Capital Bank AG 

  
 17 

 

 
  

  
 18 

 

 
  

  
 19 

 

 
  

  
 20 

 ANNEX 6 
 ASSIGNMENT OF BANK ACCOUNTS 
 Assignment of Bank Accounts 

dated 16 December 2010 
 between

 Alcan Aluminium Valais SA, 3960 Sierre, Switzerland 
 “Assignor” 
 and 
 GE Capital Bank AG, Heinrich-von-Brentano-Str. 2, 55130 Mainz, Germany 
 “Assignee” 
 regarding 
 Assignment of bank accounts. 

  
 21 

 WHEREAS 
  

	(A)	The Assignee as purchaser and the Assignor as seller entered into a Factoring Agreement (as defined below) pursuant to which the Assignor sells certain claims
against its Debtors (as defined in the Factoring Agreement) to the Assignee and, correspondingly, these claims are purchased by and/or assigned to the Assignee and any payments of the Debtors are therefore to be made exclusively to the Bank Accounts
(as defined below). 

  

	(B)	These amounts received and standing to the credit of the Bank Accounts shall serve the sole purpose of being collected by and transferred to the Assignee, all in
accordance with and subject to the Factoring Agreement (as defined below). 

  

	(C)	In order to fulfil and to secure its obligations under or in connection with the Factoring Agreement, the Assignor intends to assign the Assigned Assets (as
defined below) to the Assignee. 

  

	1.	DEFINITIONS AND CONSTRUCTION 

  

	1.1	In this Agreement, unless the context otherwise requires or unless otherwise defined or provided for in this Agreement, a term defined in the Factoring Agreement shall
have the same meaning in this Agreement and in any notice given under this Agreement. In addition, the following words and expressions shall have the respective meanings ascribed to them: 

 

			
	“Account Bank”	  	means the custodian of the Assigned Assets held by the Assignor in any Bank Account as specified in Schedule 1.
		
	“Affiliate”	  	means in relation to any company, a (i) Subsidiary of that company, (ii) a parent company of that company, or (iii) any other Subsidiary of that parent company.
		
	“Agreement”	  	means this agreement on assignment of bank accounts.
		
	“Assigned Assets”	  	shall mean all of the Assignor’s present or future rights, claims, benefits and interest in and to the Bank Accounts, including, without limitation, all of its rights to
payment of any and all future credits (surplus) relating to the Bank Accounts, which the Assignor is entitled to, regarding balances from current accounts (Kontokorrent) of the Bank Accounts as well as the rights to the daily balance
resulting from the current account agreement related to current payouts between balancing of accounts, including the right to transfer any credits standing to the account of the Bank Accounts and the right to credit the received
amounts.
		
	“Assignment”	  	shall mean the assignment hereunder in favour of the Assignee.
		
	“Bank Accounts”	  	means the Assignor’s bank accounts as specified in Schedule 1 (and any renewal or re-designation thereof) and any other future bank account which is subject to Swiss law and
opened by the Assignor with an Account Bank, which are subject to the Assignment hereunder and to the extent that the Assignor intends that its Debtors shall make Receivables payments to these accounts.
		
	“Clause”	  	shall mean any of the clauses of this Agreement.
		
	“Control Agreement”	  	means the agreement in the form as set forth in Schedule 2 hereto.
		
	“Debtors”	  	shall have the meaning ascribed to such term in the Factoring Agreement.
		
	“Effective Date”	  	means the Commencement Date (as defined in the Factoring Agreement).
		
	“Factoring Agreement”	  	means the factoring agreement dated 16 December 2010 and made between the Assignee as purchaser and the Assignor as seller in its capacity as originator, pursuant to which the
Assignor sells certain receivables against the Debtors (as

  
 22 

			
		  	defined in the Factoring Agreement) to the Assignee, as amended and supplemented by the country specific amendment agreement (Switzerland) to the Factoring Agreement dated
16 December 2010 between the Assignee and Assignor.
		
	“Factoring Documents”	  	means (i) the Factoring Agreement and (ii) the Intercreditor Agreement, including any amendment agreements and supplemental and/or other related agreements and/or documents to the
agreements herebefore.
		
	“Intercreditor Agreement”	  	means a French law governed intercreditor agreement dated 16 December 2010, between Omega Holdco B.V. as Omega, Omega Holdco II B.V. as parent company, the companies listed within
as French Sellers, the companies listed within as German Sellers, Alcan Aluminium Valais SA as Swiss Seller, GE Factofrance S.N.C as French Purchaser, GE Capital Bank AG as German Purchaser.
		
	“Obligors”	  	means the Assignor, the German Sellers and the French Sellers.
		
	“Party” or “Parties”	  	shall mean any party or all the parties to this Agreement.
		
	“Receivables”	  	shall have the meaning ascribed to such term in the Factoring Agreement.
		
	“SchKG”	  	means the Swiss federal statute on debt collection and bankruptcy (Bundesgesetz über Schuldbetreibung und Konkurs) dated 11 April 1889, as amended from time to time,
carrying the official designation SR 281.1.
		
	“Obligations”	  	means all present and future obligations and liabilities (whether actual or contingent and whether owed jointly or severally or in any other capacity whatsoever) of the Assignor
towards the Secured Parties (or any of them) under the Factoring Documents together with all costs, charges and expenses reasonably incurred by any Secured Party in connection with the protection, preservation or enforcement of its respective rights
under the Factoring Documents or any other documents evidencing or securing any such liabilities; in particular the right of the relevant Secured Party to receive the Debtor’s payments made with respect to Receivables purchased and/or assigned
under the Factoring Documents.
		
	“Secured Parties”	  	means the Assignee, the French Purchaser (as defined in the Factoring Agreement) and their successors and assignees and each entity or person that becomes a Secured Party after the
date of this Agreement shall be a Secured Party under this Agreement.
		
	“Subsidiary”	  	means in relation to any company, a company: (a) which is controlled, directly or indirectly, by the first mentioned company; (b) that more than half of the issued share capital is
beneficially owned, directly or indirectly by the first mentioned company; or (c) which is a Subsidiary of another Subsidiary of the first mentioned company, and for this purpose, a company shall be treated as being controlled by another if that
other company is able to direct its affairs and/or to control the composition of its board of directors or equivalent body.
		
	“Swiss Available Amount”	  	shall have the meaning ascribed to such term in the Intercreditor Agreement.

  

	1.2	Furthermore: 

  

	 	(a)	a “person” includes its successors and assigns; 

  

	 	(b)	references to any agreement or document are references to that agreement or document as amended, varied, supplemented, substituted or novated from time to time, in
accordance with its terms; and 

  

	 	(c)	words importing the singular shall include the plural and vice versa. 

  
 23 

	2.	ASSIGNMENT 

  

	2.1	To secure any and all of the Assignee’s and/or the Secured Parties present and future claims against the Assignor under or in connection with the Factoring
Documents and their performance, the Assignor agrees to assign and hereby assigns as of the Effective Date the Assigned Assets pursuant to articles 164 et seq. of the Swiss Federal Code of Obligations to the Assignee. The Assignee hereby accepts
such assignment. 

  

	2.2	It is explicitly agreed that, although the Bank Accounts might be current accounts, the provisions of this Agreement shall have priority and shall prevail over any
present or future agreements, including, for the avoidance of doubt, the account opening agreements and any agreements providing for electronic banking services in respect of the Bank Accounts, between the Account Bank and the Assignor on the nature
of the Bank Accounts as giro or current accounts to the effect that, irrespective of whether any present or future agreement between the Assignor and the Account Bank provides for the Assignor’s right to dispose over the Bank Accounts and
irrespective of whether or not a judgement or any other execution title has been sought by the Account Bank, the Bank Accounts and all the credit balance shall be at the disposal of the Assignee (all in accordance with and subject to the Factoring
Agreement) and the Assignor shall not be entitled to withdraw or reduce any of the credit balance standing to the credit of the Bank Accounts during the term of this Agreement without having obtained the prior consent of the Assignee.

  

	3.	CONTROL AGREEMENT 

 As per
the Commencement Date, the Assignor shall deliver to the Assignee the Control Agreement duly executed by the Assignor and the Account Bank. 
  

	4.	UNDERTAKINGS 

 Except in
accordance with the terms of the Factoring Agreement and for the term of this Agreement, as of the Effective Date, the Assignor hereby undertakes: 
  

	 	(a)	to do all reasonable acts and things in case of a transfer of any credits standing to the account of the Bank Accounts to the Assignee, and procure that all reasonable
acts and things be done, which are necessary to property effect the collection of the credits standing to the Bank Accounts, in particular to transfer of any credits standing the Bank Accounts free of any pledge, lien, encumbrance, other interest or
third party right of any nature (subject to the Account Bank’ priority rights under the terms of the relevant account agreements in relation to the Bank Accounts); 

 

	 	(b)	to do or permit to be done each and every act or thing which the Assignee may from time to time reasonably require to be done for the purpose of enforcing the
Assignee’s and/or the Secured Parties rights under this Agreement and to promptly execute such further documents and do such further acts which the Assignee and/or the Secured Parties may reasonably require for the purpose of the performance,
creation, perfection, protection, maintenance or realisation of the rights and interest of the Assignee hereunder; and 

  

	 	(c)	to enter and maintain in its commercial books (whether such books are made up in physical and/or in electronic form) a remark (the bookmark), reasonably satisfactory to
the Assignee, showing that all of the Assignor’s right, title and interest in, to and under the Bank Accounts and the credit balance is assigned as of the Effective Date in favour of the Assignee and the Assignee shall be entitled to demand
evidence reasonably satisfactory to it that the bookmark has been placed; 

 it is herewith understood and agreed
that the above undertakings are being provided by the Assignor to the Assignee in addition to any other undertakings provided by it under any of the Factoring Documents to which it is a party. 

 

	5.	COVENANTS 

 Subject to the
terms and provisions of the Factoring Agreement, as of the Effective Date, the Assignor hereby covenants with respect to, inter alia, the Bank Accounts and the credit balance standing to the respective Bank 

  
 24 

 Accounts that: 

 

	 	(a)	without the prior written consent of the Assignee, the Assignor shall not assign, pledge or otherwise encumber any of its right, title or interest in or to the Bank
Accounts and it will not take or omit to take any action, the taking or omission of which may result in an alteration or impairment of the rights hereby assigned or any of the rights created by this Agreement; 

 

	 	(b)	it shall, at its expense, maintain the Bank Accounts, subject to the terms and conditions of the Factoring Agreement; 

 

	 	(c)	it will pay when due all fees payable in connection with the Bank Accounts and otherwise fully comply with all of the terms and conditions of the agreements entered
into with the Account Bank in relation to the Bank Accounts and, in the event that any amount payable in connection with the Bank Accounts is paid by the Assignee (which is hereby authorised, but shall be under no obligation, to do so), immediately
on demand reimburse the Assignee; 

  

	 	(d)	it shall ensure that all amounts payable by the Debtors to the Assignor are credited to the Bank Accounts only and any and all invoices, statements, instruments and the
like documents delivered by the Assignor to the Debtors shall contain a provision directing that all payments thereon shall be made only by direct deposit into the relevant Bank Account; and 

 

	 	(e)	if any payments from Debtors are received on any account other than the Bank Accounts, the Assignor covenants to transfer such amounts directly to the Assignee or to a
Bank Account. 

  

	6.	PRESERVATION OF ASSIGNMENT 

  

	6.1	The Assignment shall be continuing and will extend for the term of this Agreement and subject to a release pursuant to Clause 14. 

 

	6.2	Subject to Clause 14, the obligations of the Assignor hereunder shall not be affected by any act, omission or circumstances which, but for this provision, might operate
to release or otherwise exonerate the Assignor from its obligations hereunder or affect such obligations including without limitation and whether or not known to the Assignor or the Assignee: 

 

	 	(a)	any time, waiver or concession granted to or composition with the Assignor or any other party to the Factoring Agreement; 

 

	 	(b)	the taking, variation, extension, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any terms of the Factoring
Agreement or any rights or remedies against, or securities granted by the Assignor or by any party to the Factoring Agreement; 

  

	 	(c)	any irregularity, invalidity or unenforceability of any obligations of the Assignor or any party to the Factoring Agreement or any present or future law or order of any
government or authority (whether of right or in fact) purporting to reduce or otherwise affect any of such obligations to the intent that the Assignor’s obligations under this Agreement and the Assignment shall remain in full force and this
Agreement shall be construed accordingly as if there were no such irregularity, unenforceability, invalidity, law or order; and 

  

	 	(d)	any legal limitation, disability, incapacity or other circumstances, including bankruptcy, insolvency, liquidation, administrative or other receivership, relating to
the Assignor or any party to the Factoring Agreement or any other person or any amendment to or variation of the terms of the Factoring Agreement or any other document or security. 

 

	6.3	The security created hereunder shall be cumulative, independent of, in addition to and shall not in any way be prejudiced by any other assignment or other security or
guarantee as of the Effective Date or thereafter held by the Assignee or any other Secured Party with respect to any Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be merged in any way with this Agreement.

  
 25 

	7.	COLLECTION, ENFORCEMENT AND APPLICATION OF PROCEEDS 

  

	7.1	Subject to and in accordance with the terms of the Factoring Documents, the Assignee shall have the right but not the obligation and without any further prior notice or
communication to the Assignor to undertake on its own initiative any acts it deems appropriate to collect the Assigned Assets directly from the Banks Accounts, in particular, the Assignee may set-off all or part of the credit balance standing to the
Bank Accounts or any interest accrued thereon. 

  

	7.2	The collection and enforcement of the Assigned Assets shall take place outside debt enforcement procedures (Schuldbetreibungsverfahren) and the Assignee shall in
particular be entitled to claim and as the case may be collect all Asssigned Assets and allocate any balance to the Obligations or to sell any of the Assigned Assets by private sale (Privatverkauf) to a third party or to purchase such
Assigned Assets itself (Selbsteintritt). 

  

	7.3	The Assignor waives any right to request that the Assigned Assets be collected and/or realized before foreclosure in any of their other assets or before exercise of any
other security which may have been granted to the Assignee for the Obligations. 

  

	8.	WAIVERS, REMEDIES CUMULATIVE 

  

	8.1	The rights, powers and remedies provided in this Agreement are cumulative and are not, nor are they to be construed as, exclusive of any rights, powers or
remedies provided by law or otherwise. 

  

	8.2	No failure on the part of the Assignee to exercise, or delay on its part in exercising, any of its respective rights, powers and remedies provided by this Agreement or
by law (collectively the “Rights”) shall operate as a waiver thereof, nor shall any single or partial waiver of any of the Rights preclude any further or other exercise of that one of the Rights concerned or the exercise of any other of
the Rights. 

  

	9.	INDEMNITY 

 The Assignor
shall indemnify the Assignee, its agents, its attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses, demands, taxes, and costs which it may sustain as a consequence of any breach by the Assignor of the
provisions of this Agreement, or the exercise of any of the rights and powers conferred on them by this Agreement. 
  

	10.	POWER OF ATTORNEY 

  

	10.1	The Assignor by way of security and in order to more fully secure the performance of its obligations hereunder appoints the Assignee to be its attorney acting
severally, and on its behalf and in its name or otherwise to do all acts and things and to sign, execute, deliver, perfect and do all deeds, instruments, documents, acts and things which are required for carrying out any obligation imposed on the
Assignor by or pursuant to this Agreement for enabling the Assignee to exercise, or delegate the exercise of, its respective powers and authorities conferred on it by or pursuant to this Agreement or by law. 

 

	10.2	The Assignor ratifies and confirms and agrees to ratify and confirm any and all acts carried out by the Assignee in the proper exercise of the powers conferred on it
pursuant to Clause 10.1 above. 

  

	11.	LIMITATION 

 The
limitation as set forth in clause 6 (limitation provisions relating to the sellers) of the Intercreditor Agreement shall apply mutatis mutandis to this Agreement. 

 

	12.	NOTICES 

  

	12.1	Each notice or other communication to be given under this Agreement shall be given in writing in English and, unless otherwise provided, shall be made by fax, hand
delivery or mail. 

  
 26 

	12.2	If to the Assignor: 

  

			
	Address.	  	3960 Sierre
	Attention:	  	Philippe Rouault
	Fax:	  	+41 27 457 53 25
		
	Address:	  	 Heinrich-von-Brentano-Str. 2

55130 Mainz
 Germany

	Attention:	  	Tobias Heth
	Fax:	  	
		  	+49
	 6131 4647 190

  

	13.	SEVERABILITY OF PROVISIONS 

Should any part or provision of this Agreement be held to be invalid or unenforceable by any competent arbitral tribunal, court,
governmental or administrative authority having jurisdiction, the other provisions of this Agreement shall nonetheless remain valid. In this case, the Parties hereto shall negotiate in good faith a substitute provision that best reflects the
economic intentions of the Parties without being unenforceable, and shall execute all agreements and documents required in this connection. The failure of the Parties to reach an agreement on a substitute provision shall not affect the validity of
the remainder of this Agreement. 
  

	14.	RELEASE 

 Upon the
Obligations being irrevocably paid and discharged in full and pursuant to their respective terms and no further Obligations are capable of arising or in accordance with, and to the extent required by the Factoring Agreement (to the extent it is
possible to give effect to such arrangements under Swiss law) the Assignee at the request and cost of the Assignor, shall release and re-assign the Assigned Assets to the Assignor. 

 

	15.	AMENDMENTS 

 To the extent
permitted under the Factoring Agreement, changes and amendments to this Agreement, including this clause, shall be made in writing and signed by all Parties thereto. 
  

	16.	NON-ASSIGNMENT/DELEGATION 

  

	16.1	The rights, interests and obligations of the Assignor under this Agreement are personal to it. Accordingly, they are not capable of being assigned, transferred or
delegated in any manner. The Assignor undertakes that it shall not at any time assign or transfer, or attempt to assign or transfer, any of its rights, interests or obligations under or in respect of this Agreement to any person.

  

	16.2	The Assignee shall have full power to delegate (either generally or specifically) the powers, authorities and discretions conferred on it by this Agreement (including
the power of attorney) on such terms and conditions as it shall see fit. 

  

	17.	BANKING SECRECY WAIVER 

The Assignor herewith releases the Assignee and each Secured Party from the Swiss or any other banking secrecy (if applicable) and any
other confidentiality obligations with regard to any information directly or indirectly relating to the Bank Accounts and the Assignment pursuant to this Agreement, in particular to the extent as required for the execution, performance and
administration of this Agreement and the collection of the Assigned Assets, and/or for due exercise of the respective rights or fulfilment of the respective obligations by the Assignee or any Secured Party and expressly approves any transfer of such
data and/or information abroad. The Assignee and each of the Secured Parties shall be entitled vis-à-vis each Account Bank to obtain at any time any information regarding the Bank 

  
 27 

 
Accounts to the extent as required for the execution, performance and administration of this Agreement and the collection of the Assigned Assets, and/or for due exercise of the respective rights
or fulfilment of the respective obligation by the Assignee or any Secured Party. 
  

	18.	GOVERNING LAW AND JURISDICTION 

  

	18.1	This Agreement shall be governed by and construed in accordance with the substantive laws of Switzerland (without regard to the International Private Law provisions
thereof). 

  

	18.2	Any and all litigation to which this Agreement may give rise shall be subject to the exclusive jurisdiction of the competent courts in Zurich 1, Switzerland, with
reservation of the right of appeal to the Swiss Federal Court in Lausanne. 

  

	19.	COUNTERPARTS 

 This
Agreement may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
  

	20.	EFFECTIVENESS 

 This
Agreement will become effective on the date on which all conditions precedent as stated in the Factoring Agreement are fulfilled to the satisfaction of the Assignee. The Assignee will confirm vis-à -vis the Assignor the fulfilment of the
conditions precedent and the commencement of this agreement (Condition Precedent). This Agreement has been entered into on the date stated at the beginning of this Agreement. 
 This Agreement has been entered into on the date stated at the beginning of this Agreement. 
 [Signature page follows.] 

  
 28 

 Alcan Aluminium Valais SA, 
 as Assignor 
  

									
	By:	 	  
	 		 	By:	 	  

					
	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
	
	 GE Capital Bank AG,
 as Assignee

					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	

  
 29 

 Schedule 1: List of Bank Accounts 

 

							
	 Account Bank (name and address)
	  	 Account number
	  	Swift	  	Currency
	 Credit Suisse AG

Giesshübelstrasse 30
 CH-8070
Zurich
 Switzerland
	  	CH2104835020609721000	  	CRESCHZZ80A	  	CHF
				
	 Credit Suisse AG

Giesshübelstrasse 30
 CH-8070
Zurich
 Switzerland
	  	CH1904835020609722006	  	CRESCHZZ80A	  	GBP

  
 30 

 Schedule 2: Control Agreement 
 Agreement regarding assignment of bank accounts 
 (the “Agreement”) 

1. Credit Suisse AG, Paradeplatz 8, 8001 Zurich, Switzerland (“Credit Suisse”), takes note that its Client, Alcan Aluminum Valais S.A.,
3960 Sierre, Switzerland, (the “Client”), has assigned for security purposes (“Sicherungszession”) to GE Capital Bank AG (the “Assignee”), Heinrich-von-Brentano-Str. 2, 55130, Germany, as fiduciary
security all present and future claims and monies standing to the credit of its accounts 
  

			
	-	  	no.    
	 206097-21 / IBAN CH2104835020609721000 (assigned)
	  	
		
	 -
	  	no.    
	 206097-22-6 / IBAN CH1904835020609722006 (assigned)
	  	

 (for the purpose of this Agreement referred to as the “Accounts” and the respective content of such
Accounts the “Assigned Assets”). 
 The Client and the Assignee together shall hereinafter be referred to as the
“Transaction Parties”. 
 2. Credit Suisse herewith confirms that it has taken note of such assignment (the
“Assignment”) and of the Assignee’s security interest in the Assigned Assets and will hold the Assigned Assets in the Assignee’s favour, subject to the provisions hereafter. 

3. Any accrued interest on the Assigned Assets shall be credited to the Accounts. 
 4. Subject to the provisions contained in this Agreement Credit Suisse waives all rights, such as right of lien, retention rights, rights of set-off, assignment rights or any other charge it may have with
regard to the Assigned Assets, now or at any time hereafter. On the other hand, neither of the Transaction Parties is entitled to set-off any Assigned Assets against any claim Credit Suisse may have or acquire against such Transaction Party.

 5. Credit Suisse is authorized to indicate the Assignment on the respective bank statements and bank advices (e.g. “assigned” or
“assigned to a third party”). The Transaction Parties shall not produce or submit such bank statements and bank advices to any third parties without Credit Suisse’s prior consent, provided, however, that the Transaction Parties may
disclose to any person with whom they are proposing to enter into (or have entered into) any kind of assignment, transfer or accession in relation to this Agreement any information relating to this Agreement (including such bank statements and bank
advices). In any event, the Transaction Parties warrant that they will not use such bank statements vis-à-vis third parties or authorities if such use may cause misunderstandings or results in misleading conclusions with regard to the
availability and the creditorship of the Assigned Assets. 
 6. As of the date and subject to the provisions of this Agreement, Credit Suisse
shall block the Accounts in favor of the Assignee or any of the Assignee’s successors, transferees or (further) assignees and Credit Suisse shall transfer and/or release the Assigned Assets then existing as per the instructions received by the
Assignee. 
 7. The blocking of the Accounts shall not affect the right of the Client to receive from Credit Suisse any information relating to
the Assigned Assets as long as the Assigned Assets are held in the Accounts. 

  
 31 

 8. Credit Suisse shall send to the Assignee, duplicates of all bank statements in respect of the Assigned
Assets. 
 9. In any case, Credit Suisse reserves the right not to comply with any instruction from the Client and/or the Assignee if compliance
with such instruction is not permitted by law or to the extent that compliance with such instruction would be in conflict with any rule, measure or requirement of any authority Credit Suisse is bound to or reasonably expected to comply with. On a
best efforts basis and to the extent permitted by law Credit Suisse undertakes to inform the Assignee immediately on any such rule, measure or requirement but is not obliged to represent the Assignee or any of the Assignee’s successors,
transferees or (further) assignees and/or the Client before any such authority or in any proceedings. 
 10. Furthermore, Credit Suisse is
entitled to disclose information regarding the Assigned Assets to the competent offices and authorities where requested or required by law, or by any court of competent jurisdiction or any competent judicial, governmental, supervisory or official
body to whose rules, measures or requirements Credit Suisse is bound to or reasonably expected to comply with. 
 11. The Assigned Assets, to
the extent they are held in cash, shall be held on current accounts only. 
 12. The Client hereby irrevocably undertakes to comply with the
procedures agreed in this Agreement and authorizes Credit Suisse to establish with the Assignee or any of the Assignee’s successors, transferees or (further) assignees any contact necessary in connection with this Agreement and, to this extent,
releases Credit Suisse from its banking secrecy and data protection obligations. Instructions from the Client that are in conflict with the provisions of this Agreement shall not affect Credit Suisse’s obligations under this Agreement but,
instead, Credit Suisse shall remain entitled to make available the Assigned Assets to the Assignee or any of the Assignee’s successors, transferees or (further) assignees as agreed herein. 

13. Credit Suisse is authorized to charge a one-time fee of CHF 6’000.00 in connection with the Assignment expenses for the Accounts. Furthermore,
Credit Suisse remains authorized to charge its fees in the amount of CHF 2’000.00 per year in connection with its role under this Agreement plus (ordinary) commissions as account bank as well as any additional expenses and costs incurred
for any related services. Changes shall be notified to the Transaction Parties in advance. For appointments of further successor agents a fee in a range between CHF 500.00 and CHF 2’000.00 (dependent on the complexity of the transaction) will
be charged. 
 14. Credit Suisse reserves its right to terminate the banking relationship with the Client at any time in accordance with its
General Conditions but it shall promptly notify the Assignee or any of the Assignee’s successors, transferees or (further) assignees in advance thereof and keep the Assigned Assets blocked in the Assignee’s or the Assignee’s
successors’, transferees’ or (further) assignees’ favour until receipt of the Assignee’s or its successors’, transferees’ or (further) assignees’ instructions or consent to a transfer of the Assigned Assets.
Failing receipt of such instructions within five working days Credit Suisse is authorized to make available the Assigned Assets to the Assignee or its successors, transferees or (further) assignees without any further notice. 

15. In case of dispute regarding the entitlement towards the Assigned Assets Credit Suisse reserves the right to effect payment of the Assigned Assets to
a deposit account of the Zurich district court according to art. 92, 96 and/or 168 of the Swiss Code of Obligations. By doing so, Credit Suisse shall be fully released from its payment obligations. 

  
 32 

 16. The Transaction Parties take note that Credit Suisse is not and does not intend to be a party to the
assignment agreement nor to any other agreement between the Transaction Parties (other than this Agreement) and that Credit Suisse does not undertake any obligation and responsibility other than obligations and responsibilities contained in this
Agreement. Unless being advised to the contrary and subject to the provisions contained herein, Credit Suisse may assume that all instructions given by the appointed signatories with regard to the Assigned Assets are in compliance with agreements
made between the Transaction Parties. 
 17. Any notice to Credit Suisse under this Agreement has to be sent as a “matter of urgency”
to: 
 Credit Suisse 

Mr. Stephan Brechtbühl 
 SGLS 23

 Giesshübelstrasse 30 
 CH-8070
Zurich 
 Fax: +41 44 333 40 41 

Phone: +41 44 333 64 26 
 A confirmed notice
has to be sent by fax first and confirmed by mail or courier thereafter. 
 Any instructions relating to or in connection with this Agreement
shall be made to Credit Suisse on Zurich bank working days during business hours (08:00 – 17:30 local time Zurich) and shall be sent to the above mentioned address or such other address notified by Credit Suisse in writing to the Transaction
Parties at their correspondence addresses as indicated in clause 1 of this Agreement. 
 18. If the Assignee intends to assign its rights
related to the Assigned Assets to a third party (successors, transferees or (further) assignees), the Assignee, acting through the signatories as defined vis-a-vis Credit Suisse on Credit Suisse’s bank forms, is obliged to notify such
assignment (indicating the identity details of such third party as well as the date on which such assignment shall enter into legal effect) to Credit Suisse and to transfer all duties and obligations out of this Agreement to such third party who
then shall sign a (new) tripartite agreement corresponding with the terms of this Agreement. Any such further assignment must be governed by Swiss law. Failing this, Credit Suisse is entitled but not obliged to apply the provisions of this Agreement
vis-à-vis such third party. 
 When transferring the duties and obligations arising out of this Confirmation Agreement to a successor,
transferee or (further) assignee the Transaction Parties shall procure that any such successor, transferee or (further) assignee provides the documentation required in connection with the applicable KYC requirements to Credit Suisse. 

19. The Assignor will give by a separate instruction document an irrevocable authorization to the Assignee to dispose of the Accounts and the Assigned
Assets. The Assignee will deliver Credit Suisse a specimen with signatures of persons entitled to sign in the name of and on behalf of it in relation to the Accounts and the Assigned Assets. Credit Suisse may only accept notices from the Assignee
duly signed by such persons but, on the other hand, Credit Suisse can fully rely on this specimen and shall have no obligation to make any further inquiries. 
 20. In any event, this Agreement will be automatically terminated upon closing of all the Accounts or upon the reassignment of all Assigned Assets to the Client or upon Credit Suisse’s release from
its obligations under this Agreement either by the Assignee or by any of the Assignee’s successors, transferees or (further) assignees. 

21. Subject to the provisions contained herein, Credit Suisse’s General Conditions, as enclosed, are hereby acknowledged by the Transaction Parties
and shall apply. 

  
 33 

 22. This Agreement, which shall become effective upon (i) receipt of duplicates duly signed by the
Transaction Parties (ii) the Client (lwyss@wwp.ch or ibuergi@wwp.ch) and the Assignee (oliver.widmer@pestalozzilaw.com or urs.kloeti@pestalozzilaw.com) having each confirmed by e-mail to Credit Suisse
(antonino.catanese.2@credit-suisse.com and stephan.brechtbuehl@credit-suisse.com) that the Agreement shall become effective and such email notification to be followed by a written confirmation duly signed by the Client and the Assignee
within three business days after such effective date (it is understood by the Client and the Assignee that such confirmation is to be sent to Credit Suisse on and subject to the occurrence of the commencement date of the underlying transaction), is
governed by substantive Swiss law with the exception of the collision rules of Swiss international private law. Exclusive place of jurisdiction with respect to this Agreement is the Commercial Court (Handelsgericht) of the Canton of Zurich.

  

							
	 Credit Suisse
  

Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
				
		 		 	Name:	 	
				
	 The Assignee
  

GE Capital Bank AG
  
 Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
				
		 		 	Name:	 	
				
	 The Client
  
 Alcan Aluminum Valais S.A.
  

Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
		 		 	Name:	 	

  
 34 

							
	 Attachments:
	 		 		 	
				
	 Enclosure:
	 		 		 	
				
	 -
	 		 	Credit	 	
	Suisse General Conditions and Safe Custody Regulations	 		 	
				
	-	 		 	Fees	 	
	 and commissions
	 		 		 	

  
 35 

  
 

 

  
 36 

  
 

 

  
 37 

  
 

 

  
 38 

  
 

 

  
 39 

  
 

 

  
 40 

  
 

 

  
 41 

  
 

 

  
 42 

  
 

 

  
 43 

  
 

 

  
 44 

  
 

 

  
 45 

 Anhang 2: Kontrollvereinbarung 
 Agreement regarding assignment of bank accounts 
 (the “Agreement”) 

1. Credit Suisse AG, Paradeplatz 8, 8001 Zurich, Switzerland (“Credit Suisse”), takes note that its Client, Alcan Aluminum Valais S.A.,
3960 Sierre, Switzerland, (the “Client”), has assigned for security purposes (“Sicherungszession”) to GE Capital Bank AG (the “Assignee”), Heinrich-von-Brentano-Str. 2,55130, Germany, as fiduciary
security all present and future claims and monies standing to the credit of its accounts 
  

			
	-	  	no.     
	206097-21 / IBAN CH2104835020609721000 (assigned)	  	
		
	-	  	no.     
	206097-22-6 / IBAN CH1904835020609722006 (assigned)	  	

 (for the purpose of this Agreement referred to as the “Accounts” and the respective content of such
Accounts the “Assigned assets”). 
 The Client and the Assignee together shall hereinafter be referred to as the
“Transaction Parties”. 
 2. Credit Suisse herewith confirms that it has taken note of such assignment (the
“Assignment”) and of the Assignee’s security interest in the Assigned Assets and will hold the Assigned Assets in the Assignee’s favour, subject to the provisions hereafter. 

3. Any accrued interest on the Assigned Assets shall be credited to the Accounts. 
 4. Subject to the provisions contained in this Agreement Credit Suisse waives all rights, such as right of lien, retention rights, rights of set-off, assignment rights or any other charge it may have with
regard to the Assigned Assets, now or at any time hereafter. On the other hand, neither of the Transaction Parties is entitled to set-off any Assigned Assets against any claim Credit Suisse may have or acquire against such Transaction Party.

 5. Credit Suisse is authorized to indicate the Assignment on the respective bank statements and bank advices (e.g. “assigned” or
“assigned to a third party”). The Transaction Parties shall not produce or submit such bank statements and bank advices to any third parties without Credit Suisse’s prior consent, provided, however, that the Transaction Parties may
disclose to any person with whom they are proposing to enter into (or have entered into) any kind of assignment, transfer or accession in relation to this Agreement any information relating to this Agreement (including such bank statements and bank
advices). In any event, the Transaction Parties warrant that they will not use such bank statements vis-à-vis third parties or authorities if such use may cause misunderstandings or results in misleading conclusions with regard to the
availability and the creditorship of the Assigned Assets. 
 6. As of the date and subject to the provisions of this Agreement, Credit Suisse
shall block the Accounts in favor of the Assignee or any of the Assignee’s successors, transferees or (further) assignees and Credit Suisse shall transfer and/or release the Assigned Assets then existing as per the instructions received by the
Assignee. 
 7. The blocking of the Accounts shall not affect the right of the Client to receive from Credit Suisse any information relating to
the Assigned Assets as long as the Assigned Assets are held in the Accounts. 

  
 46 

 8. Credit Suisse shall send to the Assignee, duplicates of all bank statements in respect of the Assigned
Assets. 
 9. In any case, Credit Suisse reserves the right not to comply with any instruction from the Client and/or the Assignee if compliance
with such instruction is not permitted by law or to the extent that compliance with such instruction would be in conflict with any rule, measure or requirement of any authority Credit Suisse is bound to or reasonably expected to comply with. On a
best efforts basis and to the extent permitted by law Credit Suisse undertakes to inform the Assignee immediately on any such rule, measure or requirement but is not obliged to represent the Assignee or any of the Assignee’s successors,
transferees or (further) assignees and/or the Client before any such authority or in any proceedings. 
 10. Furthermore, Credit Suisse is
entitled to disclose information regarding the Assigned Assets to the competent offices and authorities where requested or required by law, or by any court of competent jurisdiction or any competent judicial, governmental, supervisory or official
body to whose rules, measures or requirements Credit Suisse is bound to or reasonably expected to comply with. 
 11. The Assigned Assets, to
the extent they are held in cash, shall be held on current accounts only. 
 12. The Client hereby irrevocably undertakes to comply with the
procedures agreed in this Agreement and authorizes Credit Suisse to establish with the Assignee or any of the Assignee’s successors, transferees or (further) assignees any contact necessary in connection with this Agreement and, to this extent,
releases Credit Suisse from its banking secrecy and data protection obligations. Instructions from the Client that are in conflict with the provisions of this Agreement shall not affect Credit Suisse’s obligations under this Agreement but,
instead, Credit Suisse shall remain entitled to make available the Assigned Assets to the Assignee or any of the Assignee’s successors, transferees or (further) assignees as agreed herein. 

13. Credit Suisse is authorized to charge a one-time fee of CHF 6’000.00 in connection with the Assignment expenses for the Accounts. Furthermore,
Credit Suisse remains authorized to charge its fees in the amount of CHF 2’000.00 per year in connection with its role under this Agreement plus (ordinary) commissions as account bank as well as any additional expenses and costs incurred
for any related services. Changes shall be notified to the Transaction Parties in advance. For appointments of further successor agents a fee in a range between CHF 500.00 and CHF 2’000.00 (dependent on the complexity of the transaction) will
be charged. 
 14. Credit Suisse reserves its right to terminate the banking relationship with the Client at any time in accordance with its
General Conditions but it shall promptly notify the Assignee or any of the Assignee’s successors, transferees or (further) assignees in advance thereof and keep the Assigned Assets blocked in the Assignee’s or the Assignee’s
successors’, transferees’ or (further) assignees’ favour until receipt of the Assignee’s or its successors’, transferees’ or (further) assignees’ instructions or consent to a transfer of the Assigned Assets.
Failing receipt of such instructions within five working days Credit Suisse is authorized to make available the Assigned Assets to the Assignee or its successors, transferees or (further) assignees without any further notice. 

15. In case of dispute regarding the entitlement towards the Assigned Assets Credit Suisse reserves the right to effect payment of the Assigned Assets to
a deposit account of the Zurich district court according to art. 92, 96 and/or 168 of the Swiss Code of Obligations. By doing so, Credit Suisse shall be fully released from its payment obligations. 

  
 47 

 16. The Transaction Parties take note that Credit Suisse is not and does not intend to be a party to the
assignment agreement nor to any other agreement between the Transaction Parties (other than this Agreement) and that Credit Suisse does not undertake any obligation and responsibility other than obligations and responsibilities contained in this
Agreement Unless being advised to the contrary and subject to the provisions contained herein, Credit Suisse may assume that all instructions given by the appointed signatories with regard to the Assigned Assets are in compliance with agreements
made between the Transaction Parties. 
 17. Any notice to Credit Suisse under this Agreement has to be sent as a “matter of urgency”
to: 
 Credit Suisse 

Mr. Stephan Brechtbühl 
 SGLS 23

 Giesshübelstrasse 30 
 CH-8070
Zürich 
 Fax: +41 44 333 40 41 

Phone: +41 44 333 64 26 
 A confirmed notice
has to be sent by fax first and confirmed by mail or courier thereafter. 
 Any instructions relating to or in connection with this Agreement
shall be made to Credit Suisse on Zurich bank working days during business hours (08:00 – 17:30 local time Zurich) and shall be sent to the above mentioned address or such other address notified by Credit Suisse in writing to the Transaction
Parties at their correspondence addresses as indicated in clause 1 of this Agreement. 
 18. If the Assignee intends to assign its rights
related to the Assigned Assets to a third party (successors, transferees or (further) assignees), the Assignee, acting through the signatories as defined vis-a-vis Credit Suisse on Credit Suisse’s bank forms, is obliged to notify such
assignment (indicating the identity details of such third party as well as the date on which such assignment shall enter into legal effect) to Credit Suisse and to transfer all duties and obligations out of this Agreement to such third party who
then shall sign a (new) tripartite agreement corresponding with the terms of this Agreement. Any such further assignment must be governed by Swiss law. Failing this, Credit Suisse is entitled but not obliged to apply the provisions of this Agreement
vis-à-vis such third party. 
 When transferring the duties and obligations arising out of this Confirmation Agreement to a successor,
transferee or (further) assignee the Transaction Parties shall procure that any such successor, transferee or (further) assignee provides the documentation required in connection with the applicable KYC requirements to Credit Suisse. 

19. The Assignor will give by a separate instruction document an irrevocable authorization to the Assignee to dispose of the Accounts and the Assigned
Assets. The Assignee will deliver Credit Suisse a specimen with signatures of persons entitled to sign in the name of and on behalf of it in relation to the Accounts and the Assigned Assets. Credit Suisse may only accept notices from the Assignee
duly signed by such persons but, on the other hand, Credit Suisse can fully rely on this specimen and shall have no obligation to make any further inquiries. 
 20. In any event, this Agreement will be automatically terminated upon closing of all the Accounts or upon the reassignment of all Assigned Assets to the Client or upon Credit Suisse’s release from
its obligations under this Agreement either by the Assignee or by any of the Assignee’s successors, transferees or (further) assignees. 

21. Subject to the provisions contained herein, Credit Suisse’s General Conditions, as enclosed, are hereby acknowledged by the Transaction Parties
and shall apply. 

  
 48 

 22. This Agreement, which shall become effective upon (i) receipt of duplicates duly signed by the
Transaction Parties (ii) the Client (lwyss@wwp.ch or ibuergi@wwp.ch) and the Assignee (oliver.widmer@pestalozzilaw.com or urs.kloeti@pestalozzilaw.com) having each confirmed by e-mail to Credit Suisse
(antonino.catanese.2@credit-suisse.com and stephan.brechtbuehl@credit-suisse.com) that the Agreement shall become effective and such email notification to be followed by a written confirmation duly signed by the Client and the Assignee
within three business days after such effective date (it is understood by the Client and the Assignee that such confirmation is to be sent to Credit Suisse on and subject to the occurrence of the commencement date of the underlying transaction), is
governed by substantive Swiss law with the exception of the collision rules of Swiss international private law. Exclusive place of jurisdiction with respect to this Agreement is the Commercial Court (Handelsgericht) of the Canton of Zurich.

  

							
	 Credit Suisse
  

Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
				
		 		 	Name:	 	
				
	 The Assignee
  

GE Capital Bank AG
  
 Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
				
		 		 	Name:	 	
				
	 The Client
  
 Alcan Aluminum Valais S.A.
  

Place, date:
	 		 		 	
				
	  
	 		 		 	
		 		 	  
	 	
	  
	 		 		 	
				
	Name:	 		 		 	
		 		 	Name:	 	

  
 49 

							
	 Attachments:
	 		 		 	
				
	 Enclosure:
	 		 		 	
				
	 -
	 		 	Credit	 	
	Suisse General Conditions and Safe Custody Regulations	 		 	
				
	-	 		 	Fees	 	
	 and commissions
	 		 		 	

  
 50

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