Document:

exv4w319

EXHIBIT 4.319

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

Austrian addressee.

 

SECOND AMENDMENT TO THE QUOTA PLEDGE AGREEMENT 

Among

The Bank of New York Mellon

as Collateral Agent for the benefit of the Secured Parties under the First Lien Intercreditor

Agreement

and

SIG Austria Holding GmbH

as Grantor

and

SIG Combibloc do Brasil Ltda.

as the Company

 

Dated as of

January 14, 2011

 

 

 

 

SECOND AMENDMENT TO THE QUOTA PLEDGE AGREEMENT

This Second Amendment to the Quota Pledge Agreement (the “Amendment”) is made as of January
14, 2011 by and among:

     (a) SIG Austria Holding GmbH, a limited liability company duly organized and existing
in accordance with the laws of Austria, with its registered office at Industriestrasse 3, 5760
Saalfelden, Austria, registered in the commercial register (Firmenbuch) of the County Court
Salzburg under registration number 236071 p, Austria, herein duly represented in accordance with
its Charter Documents (together with its successors and permitted assignees, “Grantor”);

     (b) The Bank of New York Mellon, a financial institution duly organized and existing
under the laws of the State of New York, with its registered office at One Wall Street, New York,
New York, enrolled with the Brazilian Taxpayers Roll of the Ministry of Finance (CNPJ/MF) under no
09.214.177/0001-65, acting exclusively in the capacity as collateral agent of and for the benefit
of the Secured Parties under the First Lien Intercreditor Agreement (together with its successors
and permitted assignees in such capacity, the “Collateral Agent”); and

     (c) SIG Combibloc do Brasil Ltda., a limited liability company duly organized and
existing in accordance with the laws of Brazil, with its registered office in the City of São
Paulo, State of São Paulo, at Rua Chedid Jafet, no 222, Torre B, conjunto 42, of Edifício Millenium
Office Park, Vila Olímpia, CEP 04551-065, enrolled with the Brazilian Taxpayers Roll of the
Ministry of Finance (CNPJ/MF) under no 01.861.489/0001-59 (the “Company”).

     WHEREAS, on March 30, 2010, the parties hereto entered into the Quota Pledge Agreement (the
“Pledge Agreement”);

     WHEREAS, the Pledge Agreement was amended by the Amendment to the Quota Pledge Agreement dated
August 27, 2010, in respect of an Amendment No. 2 and Incremental Term Loan Assumption Agreement
dated May 4, 2010;

     WHEREAS, the following document (“Credit Agreement Amendment”) was entered into on the
dates, and by and among the parties, described below:

     Amendment No. 3 and Incremental Term Loan Assumption Agreement dated September 30, 2010,
entered into by and among, including others, Reynolds Group Holdings Inc., Reynolds Consumer
Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG & Co.
KGaA, SIG Austria Holding GmbH, Closure Systems International B.V., Reynolds Group Holdings
Limited, the Guarantors from time to time party thereto, the Lenders from time to time party
thereto and Credit Suisse AG (formerly known as Credit Suisse), as administrative agent for the
Lenders, related to the Credit Agreement dated as of November 5, 2009, as amended by Amendment No.
1 dated as of January 21, 2010, and as further amended by Amendment No. 2 dated May 4, 2010.

 

 

     WHEREAS, pursuant to an indenture (the “2010 Secured Notes Indenture”) dated October
15, 2010, and entered into between the Escrow Issuers (as defined below), The Bank of New York
Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as collateral agent, certain secured notes (the “2010 Secured
Notes”) were issued by the Escrow Issuers. On 16 November 2010, the proceeds of the 2010
Secured Notes were released from escrow and the obligations of the Escrow Issuers were assumed by
the Issuers.

     WHEREAS, the obligation in respect of the 2010 Secured Notes Indenture and any Senior Secured
Note Documents (as defined therein) were, on 16 November, 2010, designated as “Additional
Obligations” under, and in accordance with, section 5.02(c) of the First Lien Intercreditor
Agreement (the “Secured Notes Designation”).

     WHEREAS, the parties recognize and agree that the security interest created under the Pledge
Agreement shall extend to secure, in addition to the obligations currently secured thereby, the
obligations created under the Credit Agreement Amendment and the Additional Documents (as defined
under the First Lien Intercreditor Agreement) in respect of the Secured Notes Designation
(“Additional Covered Obligations”).

     NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants contained
herein, the parties hereto agree as follows:

     1. Defined Terms. Capitalized terms used and not otherwise defined in this Amendment
are used herein and in any notice given under this Amendment with the same meanings ascribed to
such terms in the Pledge Agreement and in the First Lien Intercreditor Agreement, as applicable.
All terms defined in this Amendment shall have the defined meanings contained herein when used in
any certificate or other document made or delivered pursuant hereto unless otherwise defined
therein.

     2. Amendment. The parties hereto agree to amend the Pledge Agreement as follows, such
amendments to be in force and effect as of the date hereof:

	 	(a)	 	The following new definitions will be inserted at the appropriate place in
alphabetical order with the following wording:
	 
	 	 	 	“Escrow Issuers” means RGHL US Escrow I LLC, RGHL US Escrow I Inc. and RGHL
Escrow (Luxembourg) I S.A.
	 
	 	 	 	“2010 Secured Notes Indenture” means the indenture dated October, 15, 2010,
and entered into between the Escrow Issuers, The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as collateral agent.
	 
	 	 	 	“2010 Secured Notes Indenture Secured Parties” shall mean such entities as
fall within the definition of “Additional Secured Parties” under the First Lien

 

 

	 	 	 	Intercreditor Agreement as a result of the designation of the obligations in respect
of the 2010 Secured Notes Indenture and the Senior Secured Note Documents (as
defined therein) being “Additional Obligations” under the First Lien Intercreditor
Agreement.

     (b) In order to evidence the extension of the security interest created under the Pledge
Agreement to the Additional Covered Obligations, the Parties agree to amend the description of the
Secured Obligations contained in Schedule A-I of the Pledge Agreement as follows:

“Description of the Secured Obligations under the Loan Documents

A) All obligations owed to the Secured Parties now existing or hereafter arising, direct or
indirect, absolute or contingent, due or to become due, under the Loan Documents, including (and
without limitation): 

	 	(i)	 	a senior secured U.S. term loan facility in an aggregate principal amount not
in excess of US$1,035,000,000 with an interest rate equivalent to the Applicable Margin
plus (a) (i) the greater of 2.00% per annum and (ii) (x) the LIBO Rate in effect for
such Interest Period and (y) Statutory Reserves or (b) the Alternate Base Rate; which
shall be repaid in full on November 5, 2015 (subject to prepayment and acceleration
provisions);
	 
	 	(ii)	 	an European term loan facility in an aggregate principal amount of
approximately €250,000,000 with an interest rate equivalent to the Applicable Margin
plus (a) (i) the greater of 2.00% per annum and (ii) (x) the EURIBO Rate in effect for
such Interest Period plus (y) Mandatory Cost or (b) in the case of loans denominated in
Euro, the Foreign Base Rate; which shall be repaid in full on November 5, 2015 (subject
to prepayment and acceleration provisions);
	 
	 	(iii)	 	a senior secured U.S. revolving loan facility in an aggregate principal amount
of approximately US$120,000,000, which principal amounts include sub-limits for letter
of credit facilities with an interest rate equivalent to the Applicable Margin plus (a)
(i) the greater of 2.00% per annum and (ii) (x) the LIBO Rate in effect for such
Interest Period and (y) Statutory Reserves or (b) the Alternate Base Rate; which shall
be repaid in full on November 5, 2014 (subject to prepayment and acceleration
provisions);
	 
	 	(iv)	 	an European revolving loan facility in an aggregate principal amount of
approximately €80,000,000, which principal amounts include sub-limits for letter of
credit facilities with an interest rate equivalent to the Applicable Margin plus (a)
(i) the greater of 2.00% per annum and (ii) (x) the EURIBO Rate in effect for such
Interest Period plus (y) Mandatory Cost or (b) in the case of loans denominated in
Euro, the Foreign Base Rate; which shall be repaid in full on November 5, 2014 (subject
to prepayment and acceleration provisions); and

 

 

	 	(v)	 	incremental loan facilities in a principal amount up to US$2,770,000,000 with
an interest rate equivalent to the rates set forth in clauses (i) through (iv) above,
as applicable to the incremental loan facility; which shall be repaid in full as set
forth in clauses (i) through (iv) above, as applicable to the incremental loan facility
or such other as set out in the relevant Incremental Assumption Agreement, which date
shall be earlier than the dates set forth above as applicable to the incremental loan
facility (subject to prepayment and acceleration provisions).

B) all other obligations, advances, debts and liabilities owed to the Credit Agreement’s Secured
Parties, including indemnities, fees and interest incurred under, arising out of or in connection
with the Credit Agreement.

(c) In order to evidence the extension of the security interest created under the Pledge Agreement
to the Additional Covered Obligations, the Parties also agree to insert a new Schedule A-III
describing the obligations in respect of the 2010 Secured Notes:

Definitions

For the purpose of this item “I” of this Schedule A all capitalized terms used and not
otherwise defined in this Agreement shall have the meaning ascribed to such terms in the Credit
Agreement.”

III — Description of the Obligations Under the Senior Secured Note Documents 

All obligations owed to the 2010 Secured Notes Indenture Secured Parties now existing or hereafter
arising, direct or indirect, absolute or contingent, due or to become due, under the Senior Secured
Note Documents (as such term is defined in the 2010 Secured Notes Indenture), including (and
without limitation):

	 	(i)	 	the due and punctual payment of:

	 	(a)	 	(A) US$1,500,000,000 aggregate principal amount on the notes
due 2019 and interest, which shall be paid on October 15 and April 15, at the
rate of 7.125% per annum (including interest accruing during the pendency of
any bankruptcy, insolvency, receivership or other similar proceeding,
regardless of whether allowed or allowable in such proceeding) on the notes,
when and as due, whether at maturity, by acceleration, upon one or more dates
set for prepayment or otherwise; and

 

 

	 	(b)	 	all other monetary obligations of any Issuer to any of the
2010 Secured Notes Indenture Secured Parties under the Senior Secured Note
Documents (as such term is defined in the 2010 Secured Notes Indenture),
including fees, costs, expenses and indemnities, whether primary, secondary,
direct, contingent, fixed or otherwise (including monetary obligations
incurred during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such
proceeding).

	 	(ii)	 	the due and punctual performance of all other obligations of the Issuers under or
pursuant to the Senior Secured Note Documents (as such term is defined in the 2010 Secured
Notes Indenture); and
	 
	 	(iii)	 	the due and punctual payment and performance of all the obligations of each other
obligor under or pursuant to the Senior Secured Note Documents (as such term is defined in
the 2010 Secured Notes Indenture).

2.1. For the avoidance of doubt, the parties agree that, as a result of this amendment: (i) the
obligations created under the Credit Agreement Amendment and the 2010 Secured Notes Indenture and
the Senior Secured Note Documents (as defined therein) shall be considered “Secured Obligations”
for the purposes of the Pledge Agreement; and (ii) any 2010 Secured Notes Indenture Secured Parties
(including any holder of the 2010 Secured Notes) shall be considered “Secured Parties” for the
purposes of the Pledge Agreement.

     3. Registration of this Amendment. The Grantor, at its expense, shall within 20
(twenty) days from the execution date of this Amendment, (i) cause the signature of the parties who
have signed this Amendment outside Brazil to be notarized by a public notary and consularized at
the local Brazil consulate, (ii) cause this Amendment to be translated into Portuguese by a sworn
translator (tradutor público juramentado), and (iii) have this Amendment, together with its sworn
translation (tradução juramentada) into Portuguese, annotated at the margin of the registration of
the Pledge Agreement with the competent Registry of Deeds and Documents (Cartório de Registro de
Títulos e Documentos) in Brazil pursuant to Article 128 of Law No. 6,015 of December 31, 1973. The
Grantor shall, promptly after such registration deliver to the Collateral Agent evidence of such
registration in form and substance satisfactory to the Collateral Agent. All expenses incurred in
connection with such registrations shall be borne by the Grantor.

Notwithstanding the foregoing, the Collateral Agent, at its sole discretion, may decide to
undertake any of the registrations, translations, filings and other formalities described herein if
Grantor fails to do so, whereupon the Grantor shall reimburse the Collateral Agent promptly of any
and all costs and expenses incurred by it related to such registrations, translations, filings and
other formalities in accordance with the provisions of the Principal Finance Documents.

 

 

     4. Effectiveness of the Pledge Agreement. All the provisions of the Pledge Agreement
not expressly amended as a result of this Amendment shall remain in full force and effect.

     5. Security Document. The Parties agree that this Amendment shall be deemed a
“Security Document” for the purposes of and as defined in the First Lien Intercreditor Agreement
(and for no other purpose) and that, accordingly, all rights, duties, privileges, protections and
benefits of the Collateral Agent set forth in the First Lien Intercreditor Agreement are hereby
incorporated by reference

     6. Governing Law; Jurisdiction. This Amendment shall be governed by and construed and
interpreted in accordance with the laws of Brazil. The parties irrevocably submit to the
jurisdiction of the courts sitting in the City of São Paulo, State of São Paulo, Brazil, any action
or proceeding to resolve any dispute or controversy related to or arising from this Amendment and
the parties irrevocably agree that all claims in respect of such action or proceeding may be heard
and determined in such courts, with the express waiver of the jurisdiction of any other court,
however privileged it may be.

 

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed in the presence of
the undersigned witnesses.

	 	 	 	 	 
	 	SIG Austria Holding GmbH

 	 
	 	/s/ Edimara Iansen Wieczorek
 	 
	 	By: Edimara Iansen Wieczorek 	 
	 	Title:  	attorney-in-fact 	 
	 
	 	SIG Combibloc do Brasil Ltda.

 	 
	 	/s/ Edimara Iansen Wieczorek
 	 
	 	By: Edimara Ianser Wieczorek 	 
	 	Title:  	officer 	 
	 
	 	 	 
	 	 /s/ Ricardo Lança Rodriguez
 	 
	 	By: Ricardo Lança Rodriguez 	 
	 	Title:  	Executive Officer 	 
	 

The Bank of New York Mellon as Collateral Agent acting as agent of and for the benefit of
the Secured Parties

	 	 	 	 	 
	 	 
	 /s/ Marcos Canecchio Ribeiro
 	 
	By:  Marcos Canecchio Ribeiro 	 
	Title:  	attorney-in-fact 	 
	 

WITNESSES:

	 	 	 	 	 	 	 	 	 

	/s/ Andrea Ribeiro	 	/s/ Cristina Guilhamate	 	 
	 	 	 	 	 
	Name:

	 	Andrea Ribeiro
	 	Name:
	 	Cristina Guilhamate	 	 
	ID:

	 	RG. 23.126.528-1 SSP/SP
	 	ID:
	 	RG. 35.714.533-1	 	 
	 

	 	CPF. 149.218.078-50
	 	 	 	CPF. 348.852.402-67exv4w320

EXHIBIT 4.320

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

Confirmation Agreement

between

1. SIG Austria Holding GmbH

as pledgor

and

2. SIG Combibloc GmbH

as pledgor

and

3. SIG Combibloc GmbH & Co KG

as pledgor

and

4. Wilmington Trust (London) Limited

as pledgee and Collateral Agent

  

 

Contents

	 	 	 	 	 

	1. Definitions
	 	 	3	 
	2. Construction
	 	 	5	 
	3. Confirmation
	 	 	6	 
	4. Representations and Warranties
	 	 	7	 
	5. Notices
	 	 	7	 
	6. Execution in Counterparts
	 	 	7	 
	7. Stamp duty
	 	 	7	 
	8. Miscellaneous
	 	 	8	 
	9. Capital maintenance
	 	 	8	 
	10. Choice of Law
	 	 	9	 
	11. Settlement of disputes
	 	 	9	 
	 
	 	 	 	 
	Schedules
	 	 	 	 
	 
	 	 	 	 
	Schedule 1
	 	 	 	 

 - 2 - 

 

Recitals

A. Under the Security Documents (as defined below), each Confirming Party (as defined below)
granted a pledge over certain of its property as a security for the Secured Obligations (as defined
in each Security Document), in connection with the Credit Agreement (as defined below).

B. The Confirming Parties and the Collateral Agent (as defined below) are also, among others,
parties to the First Lien Intercreditor Agreement (as defined below).

C. The security granted by or pursuant to the Security Documents is administered by the Collateral
Agent for and on behalf of the Secured Parties (as defined in the First Lien Intercreditor
Agreement) pursuant to the relevant provisions of the First Lien Intercreditor Agreement.

D. Among others, Reynolds Group Holdings Inc. and the Administrative Agent (as defined in the First
Lien Intercreditor Agreement) have entered into the Assumption Agreement (as defined below), by
which additional incremental term loans were made to the Incremental Borrower (as defined therein)
for the purposes set out therein.

E. Pursuant to the indentures dated 15 October 2010, the Issuers (as defined therein) have issued
certain secured debt securities.

F. Each Confirming Party expects to realise, or has realised, direct or indirect benefits as a
result of the Assumption Agreement (as defined below) becoming effective and the consummation of
the transactions contemplated thereby.

1. Definitions

A term defined in the First Lien Intercreditor Agreement shall, unless otherwise defined in this
Agreement, have the same meaning when used in this Agreement or any notice given under or in
connection with this Agreement and in addition:

	 	 	 

	Agreement

	 	means this confirmation agreement, as may be
from time to time modified, amended or
supplemented.
	 
	 	 
	Assumption Agreement

	 	means the Amendment No. 3 and Incremental
Term Loan Assumption Agreement dated 30
September 2010 among (amongst others)
Reynolds Group Holdings Inc., the Lenders,
the New Incremental Term Lenders (as defined
therein) and the Administrative Agent,
relating to the Credit Agreement.
	 
	 	 
	Collateral Agent

	 	means Wilmington Trust (London) Limited, as
joint and several creditor for and on behalf
of itself and each of the Secured Parties on
the terms and conditions set out in the
First Lien Intercreditor Agreement. The term
“Collateral

 - 3 - 

 

	 	 	 

	 

	 	Agent” shall include any person
for the time being appointed as collateral
agent, or as an additional collateral agent,
for the purpose of, and in accordance with,
the First Lien Intercreditor Agreement and
shall include successors, transferees and
permitted assigns.
	 
	 	 
	Confirming Party

	 	means each of SIG Austria Holding GmbH, SIG
Combibloc GmbH and SIG Combibloc GmbH & Co
KG.
	 
	 	 
	Credit Agreement

	 	means a credit agreement dated as of 5
November 2009, among Reynolds Group Holdings
Inc., Reynolds Consumer Products Holdings
Inc., SIG Euro Holding AG & Co. KG aA,
Closure Systems International Holdings Inc.,
Closure Systems International B.V., Pactiv
Corporation and SIG Austria Holding GmbH as
borrowers, Reynolds Group Holdings Limited,
the lenders from time to time party thereto
and Credit Suisse AG (formerly known as
Credit Suisse) as administrative agent, as
amended, extended, restructured, renewed,
novated, supplemented, restated, refunded,
replaced or modified from time to time
(including by Amendment No. 1 dated as of 21
January 2010, Amendment No. 2 and
Incremental Term Loan Assumption Agreement
dated as of 4 May 2010 and the Assumption
Agreement).
	 
	 	 
	First Lien Intercreditor 

Agreement

	 	means the first lien intercreditor agreement
dated as of 5 November 2009 among (amongst
others) The Bank of New York Mellon as
collateral agent and as trustee under the
Senior Secured Note Indenture, Credit Suisse
AG (formerly known as Credit Suisse) as
administrative agent under the Credit
Agreement and the Loan Parties, as amended,
novated, supplemented, restated or modified
from time to time (including by the
Amendment No.1 and Joinder Agreement dated
as of 21 January 2010, which added the
Collateral Agent as a collateral agent under
the First Lien Intercreditor Agreement).
	 
	 	 
	Party

	 	means a party to this Agreement. The term
“Parties” means any of them.
	 
	 	 
	Senior Secured Notes 

Indenture

	 	means the senior secured notes indenture
entered into, among others, between RGHL US
Escrow I Inc., RGHL US Escrow I LLC and RGHL
Escrow Issuer (Luxembourg) I S.A. as issuers
and The Bank of New York Mellon, London
Branch, as paying agent dated as of 15
October 2010, pursuant to which the issuers
initially issued debt securities in escrow,
the proceeds of which were released

 - 4 - 

 

	 	 	 

	 

	 	on 16 November 2010.
	 
	 	 
	SIG Austria Holding GmbH

	 	means SIG Austria Holding GmbH, a limited
liability company organised under the laws
of Austria with its seat in Saalfelden am
Steinernen Meer, Austria, and its business
address as at the date of this Agreement at
Industriestraße 3, 5760 Saalfelden, Austria,
registered in the Austrian companies
register (Firmenbuch) under file number FN
236071 p.
	 
	 	 
	SIG Combibloc GmbH

	 	means SIG Combibloc GmbH, a limited
liability company organised under the laws
of Austria with its seat in Saalfelden am
Steinernen Meer, Austria, and its business
address as at the date of this Agreement at
Industriestraße 3, 5760 Saalfelden, Austria,
registered in the Austrian companies
register (Firmenbuch) under file number FN
237985 d.
	 
	 	 
	SIG Combibloc GmbH & Co KG

	 	means SIG Combibloc GmbH & Co KG, a limited
partnership organised under the laws of
Austria with its seat in Saalfelden am
Steinernen Meer, Austria, and its business
address as at the date of this Agreement at
Industriestraße 3, 5760 Saalfelden, Austria,
registered in the Austrian companies
register (Firmenbuch) under file number FN
240335 i.
	 
	 	 
	Security Documents

	 	means the documents listed in Schedule 1.

2. Construction

2.1 In this Agreement, unless the context otherwise requires:

	(a)	 	the rules of interpretation contained in the First Lien Intercreditor Agreement apply to the
construction of this Agreement and any notice given under or in connection with this
Agreement;
	 
	(b)	 	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement;
	 
	(c)	 	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement and
references to this Agreement include its Schedules;
	 
	(d)	 	words importing the plural shall include the singular and vice versa;
	 
	(e)	 	a reference to (or to any specified provision of) any agreement, deed or other instrument
(for the avoidance of doubt including, but not limited to, such agreements, deeds or other
instruments which are entered into prior to or after the conclusion of this Agreement) is to
be construed as a reference to that agreement, deed or other

 - 5 - 

 

	 	 	instrument or that provision as from time to time amended, extended, restructured, renewed,
refunded, novated, supplemented, restated, replaced or modified; and
	 
	(f)	 	this Agreement is subject to the terms of the First Lien Intercreditor Agreement and of any
other Intercreditor Arrangements (as defined in the Security Documents). In the event of a
conflict between the terms of this Agreement, the First Lien Intercreditor Agreement or any
other Intercreditor Arrangements, the terms of the First Lien Intercreditor Agreement or any
other Intercreditor Arrangements, as relevant, will prevail.

3. Confirmation

3.1 Each Confirming Party hereby:

	(a)	 	consents to the Assumption Agreement and the transactions contemplated thereby; and
	 
	(b)	 	agrees that, notwithstanding the effectiveness or otherwise of the Assumption Agreement and
the issuance of the Senior Secured Notes (as defined in the Senior Secured Notes Indenture),
each of the Security Documents to which it is a party continues, subject to the Legal
Reservations (as defined in the Credit Agreement) to be in full force and effect; and
	 
	(c)	 	confirms the pledges and security interests created by or pursuant to the Security Documents
to which it is a party and that such pledges and security interests are upheld and remain
unaffected; and
	 
	(d)	 	acknowledges that the pledges and security interests created by or pursuant to the Security
Documents to which it is a party continue in full force and effect subject to the Legal
Reservations (as defined in the Credit Agreement) and extend, subject to the limitations
therein, to (i) the New Incremental Term Loans (as defined in the Assumption Agreement), which
shall be considered “Credit Agreement Obligations” under the First Lien Intercreditor
Agreement, and (ii) the “Secured Obligations” as defined in the Senior Secured Notes
Indenture, which have been designated as “Additional Obligations” under and pursuant to the
First Lien Intercreditor Agreement.

3.2 Each Confirming Party further confirms and agrees that, with respect to the Security Documents
to which it is a party, the obligations under the New Incremental Term Loans (as defined in the
Assumption Agreement) and the Senior Secured Notes (as defined in the Senior Secured Notes
Indenture) constitute “Secured Obligations” under each Security Document to which it is a party.

3.3 Each of the Confirming Parties hereby agrees that each of the Parallel Debt of such Confirming
Party created under the First Lien Intercreditor Agreement or under any guarantor joinder to the
First Lien Intercreditor Agreement, in effect prior to the date hereof shall continue to be in full
force and effect and shall accrue to the benefit of the Collateral Agent (for the benefit of the
Secured Parties) and shall continue to apply, as applicable, in relation

 - 6 - 

 

to all Obligations defined in the First Lien Intercreditor Agreement following the effectiveness of
the Assumption Agreement.

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

4. Representations and Warranties

4.1 Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date
hereof that such Confirming Party (a) is duly organized and validly existing under the laws of
Austria and (b) has the power and authority to execute, deliver and perform its obligations under
this Agreement.

4.2 Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date
hereof that the entry by such Confirming Party into this Agreement and the transactions
contemplated in the Assumption Agreement have been duly authorized by all requisite corporate
and/or partnership and, if required, stockholder and partner action.

4.3 Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date
hereof that this Agreement has been duly executed and delivered by each such Confirming Party and,
subject to Legal Reservations (as defined in the Credit Agreement), constitutes a legal, valid and
binding obligation of such Confirming Party enforceable against such Confirming Party in accordance
with its terms.

5. Notices

All communications and notices hereunder shall be in writing and given as provided in Section 5.01
of the First Lien Intercreditor Agreement.

6. Execution in Counterparts

This Agreement may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same Agreement. In this respect the Collateral
Agent and the Confirming Parties agree not to contest the validity of an uncertified copy of this
Agreement in any court or enforcement proceedings in the Republic of Austria.

7. Stamp duty

The parties hereto agree that the provisions of sections 9.19 (Place of Performance) and 9.20
(Austria Stamp Duty) of the Credit Agreement (and, if the Credit Agreement is no longer in
existence, an equivalent clause in any Additional Agreement) and the provisions of

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sections 5.15 (Place of Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor
Agreement (and, if the First Lien Intercreditor Agreement is no longer in existence, an equivalent
clause in any other Intercreditor Arrangements) shall apply to this Agreement as if incorporated
herein mutatis mutandis.

8. Miscellaneous

8.1 This Agreement is a Loan Document (as defined in the Credit Agreement) executed pursuant to the
Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms of the Credit Agreement.

8.2 This Agreement shall not extinguish the obligations for the payment of money outstanding under
any Credit Document or discharge or release the priority of any Credit Document or any other
security therefore. Nothing herein shall be construed as a substitution or novation of the
obligations outstanding under any Credit Document or instruments securing the same, which shall
remain in full force and effect. Nothing in or implied by this Agreement or in any other document
contemplated hereby shall be construed as a release or other discharge of any obligations or
liabilities of any party under any Credit Document. Each of the Credit Documents shall remain in
full force and effect notwithstanding the execution and delivery of this Agreement.

8.3 Except as expressly set forth herein, this Agreement shall not by implication or otherwise
limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Secured
Parties under any Credit Document, and shall not alter, modify, amend or in any way affect any of
the terms, conditions, obligations, covenants or agreements contained in any Credit Document, all
of which are ratified and affirmed in all respects and shall continue in full force and effect.

8.4 If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to such
jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity,
legality and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced by
such valid, legal or enforceable provision which comes as close as possible to the original intent
of the parties in respect of the invalid, illegal or unenforceable provision.

8.5 Any amendments, changes, variations or waivers to this Agreement may be made only with the
agreement of the Confirming Parties and the Collateral Agent in writing and, if required under
Austrian statutory law, in the form of a notarial deed. This applies also to this Clause 8.5.

9. Capital maintenance

9.1 The liability of the Confirming Parties under this Agreement shall at all times be limited so
that no assumption of an obligation under this Agreement be required if this would vio-

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late mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) pursuant to
Austrian company law, in particular Sections 82 et seq of the Austrian Act on Limited Liability
Companies (Gesetz über Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of
the Austrian Stock Corporation Act (Aktiengesetz).

9.2 Should any obligation under this Agreement violate or contradict Austrian capital maintenance
rules and should therefore be held invalid or unenforceable, such obligation shall be deemed to be
replaced by an obligation of a similar nature which is in compliance with Austrian capital
maintenance rules and which provides the best possible security interest in favour of the Secured
Parties. By way of example, should it be held that the security interest created under a Security
Document as amended by this Agreement is contradicting Austrian capital maintenance rules in
relation to any amount of the Secured Obligations (as defined in such Security Document), the
security interest created under such Security Document as amended by this Agreement shall be
reduced to the maximum amount of the Secured Obligations (as defined in such Security Document),
which is permitted pursuant to Austrian capital maintenance rules.

10. Choice of Law

This Agreement shall be governed and construed in accordance with the laws of Austria.

11. Settlement of disputes

11.1 Jurisdiction of English Courts

	(a)	 	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement).
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle disputes and accordingly no Party will argue to the contrary.

11.2 Clause 11.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent
shall not be prevented from taking proceedings relating to a dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in
any number of jurisdictions.

11.3 Without prejudice to any other mode of service allowed under any relevant law, the Pledgor:

	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of
process in relation to any proceedings before the English courts in connection with this
Agreement; and
	 
	(b)	 	agrees that failure by an agent for service of process to notify the Pledgor of the process
will not invalidate the proceedings concerned.

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	 	SIG Austria Holding GmbH

 	 
	 	/s/Chiara Brophy
 	 
	 	Represented by: Chiara Brophy 	 
	 	Date:January 14, 2011 	 
	 
	 	SIG Combibloc GmbH

 	 
	 	/s/Chiara Brophy
 	 
	 	Represented by: Chiara Brophy 	 
	 	Date: January 14, 2011 	 
	 
	 	SIG Combibloc GmbH & Co KG

 	 
	 	/s/Chiara Brophy
 	 
	 	Represented by: Chiara Brophy 	 
	 	Date: January 14, 2011 	 
	 
	 	Wilmington Trust (London) Limited

 	 
	 	/s/Elaine Lockhart
 	 
	 	Represented by: Elaine Lockhart 	 
	 	Date: January 14, 2011 	 

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Schedule 1

List of the Security Documents

	(a)	 	Limited interest pledge agreement over the limited partnership interest in SIG Combibloc GmbH
& Co KG granted by SIG Austria Holding GmbH in favour of the Collateral Agent;
	 
	(b)	 	General interest pledge agreement over the general partnership interest in SIG Combibloc GmbH
& Co KG granted by SIG Combibloc GmbH in favour of the Collateral Agent;
	 
	(c)	 	Account pledge agreement over the bank accounts granted by SIG Austria Holding GmbH in favour
of the Collateral Agent;
	 
	(d)	 	Account pledge agreement over the bank accounts granted by SIG Combibloc GmbH in favour of
the Collateral Agent;
	 
	(e)	 	Account pledge agreement over the bank accounts granted by SIG Combibloc GmbH & Co KG in
favour of the Collateral Agent;
	 
	(f)	 	Receivables pledge agreement over the receivables granted by SIG Austria Holding GmbH in
favour of the Collateral Agent;
	 
	(g)	 	Receivables pledge agreement over the receivables granted by SIG Combibloc GmbH in favour of
the Collateral Agent;
	 
	(h)	 	Receivables pledge agreement over the receivables granted by SIG Combibloc GmbH & Co KG in
favour of the Collateral Agent.

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