Document:

exv4w521

EXHIBIT 4.521

Confirmation and Amendment Agreement

dated 14 October 2011

between

SIG COMBIBLOC GMBH & CO KG

( the “Confirming Grantor”)

and

WILMINGTON TRUST (LONDON) LIMITED

acting as Collateral Agent under the First Lien Intercreditor Agreement (as defined below) 
for
itself and for the benefit and for the account of the Secured Parties

(the “Collateral Agent”)

relating to

the Swiss law security document as listed and described in Schedule 1 hereto
entered into 
by the Confirming Grantor and the Collateral Agent acting for itself and for the
benefit 
and for the account of the Secured Parties in connection with the Loan Documents.

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

 

 

THIS CONFIRMATION AND AMENDMENT AGREEMENT is effective as of the Effective Date (as defined
in Clause 2 below) and entered into BETWEEN:

	(1)	 	SIG Combibloc GmbH & Co KG, a limited partnership organised under the laws of Austria and
having 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 (the “Confirming
Grantor) on the one part; and

	(2)	 	Wilmington Trust (London) Limited, having its business address at Third Floor, 1 King’s Arms
Yard, London EC2R 7AF, England, acting under the First Lien Intercreditor Agreement (as
defined below) as Collateral Agent for itself and for the benefit and for the account of the
Secured Parties (as defined in the Security Document) (the “Collateral Agent”), on the other
part.

RECITALS

	(A)	 	Pursuant to a credit agreement (the “Credit Agreement”) dated November 5, 2009 made
between inter alia Reynolds Group Holdings Inc. (“RGHI”), 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 (“the Borrowers”), Reynolds Group
Holdings Limited, certain SIG group companies as current guarantors, the lenders from time to
time party thereto, and Credit Suisse AG, Cayman Islands Branch, as administrative agent (the
“Administrative Agent”), as amended by Amendment No. 1 dated as of January 21, 2010, as
further amended by an Amendment No. 2 and Incremental Term Loan Assumption Agreement dated as
of May 4, 2010 (the “Amendment No. 2”), as further amended by an Amendment No. 3 and
Incremental Term Loan Assumption Agreement dated as of September 30, 2010 (the “Amendment No.
3”), as further amended and restated by an Amendment No. 4 and Incremental Term Loan
Assumption Agreement dated as of February 9, 2011 (the “Amendment No. 4”) and as further
amended by an Amendment No. 5 dated as of March 11, 2011 (the “Amendment No. 5”), certain
facilities were made available to the Borrowers on the terms and conditions thereof.

2 / 13

 

	(B)	 	Pursuant to a senior secured note indenture dated November 5, 2009 (the “2009 Senior Secured
Note Indenture”), as supplemented by various supplemental indentures entered into on or before
the date of this Agreement, among inter alia Reynolds Group Issuer LLC, Reynolds Group Issuer
Inc., and Reynolds Group Issuer (Luxembourg) S.A as ultimate issuers (collectively, the
“Issuers”), the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee (the “Trustee”), certain senior secured notes due 2016 were issued to certain
noteholders on the terms and conditions thereof.

	(C)	 	Pursuant to a first lien intercreditor agreement dated November 5, 2009 among The Bank of New
York Mellon as collateral agent and as trustee, the Administrative Agent and, among others,
the Confirming Grantor, as amended by Amendment No. 1 dated as of January 21, 2010 (which
added Wilmington Trust (London) Limited as a collateral agent under the first lien
intercreditor agreement) (the “First Lien Intercreditor Agreement”), The Bank of New York
Mellon and, later, Wilmington Trust (London) Limited were appointed each as a Collateral Agent
(as defined therein) with regard to, among other things, the acquisition, holding and
enforcement of Liens on Collateral (both as defined therein).

	(D)	 	Pursuant to a senior secured note indenture dated October 15, 2010 (the “2010 Senior Secured
Note Indenture”), as supplemented by various supplemental indentures entered into on or before
the date of this Agreement, among inter alia RGHL US Escrow I Inc., RGHL US Escrow I LLC and
RGHL Escrow Issuer (Luxembourg) I S.A., the Note Guarantors (as defined therein) and The Bank
of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent, and Wilmington Trust (London) Limited, as additional collateral agent,
certain senior secured notes due 2019 were issued to certain noteholders on the terms and
conditions thereof.

	(E)	 	Pursuant to a senior secured note indenture dated February 1, 2011 (the “February 2011 Senior
Secured Note Indenture”), as supplemented by various supplemental indentures entered into on
or before the date of this Agreement, among inter alia the Issuers and The Bank of New York
Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent,
and Wilmington Trust (London) Limited, as additional collateral agent, certain senior secured
notes due 2021 were issued to certain noteholders on the terms and conditions thereof.

3 / 13

 

	(F)	 	The Credit Agreement, the 2009 Senior Secured Note Indenture, the 2010 Senior Secured Note
Indenture, the February 2011 Senior Secured Note Indenture and the First Lien Intercreditor
Agreement were supplemented several times by means of guarantor joinders to the Credit
Agreement (which also provide for the accession to the First Lien Intercreditor Agreement),
supplemental indentures (see also recital (B)) to the 2009 Senior Secured Note Indenture,
supplemental indentures (see also recital (D)) to the 2010 Senior Secured Note Indenture and
supplemental indentures (see also recital (E)) to the February 2011 Senior Secured Note
Indenture.
	 
	(G)	 	Pursuant to the Principal Finance Documents, the Parties (as defined below) hereto have
entered into the Swiss law security document as listed and described in Schedule 1 hereto (the
“Security Document”) over certain assets owned by the Confirming Grantor in order to secure
the performance of the Secured Obligations.
	 
	(H)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto, the Incremental U.S. Term Lenders (as defined
therein), the other Lenders party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 2 relating to the Credit Agreement and pursuant to which (i)
the Credit Agreement has been amended to inter alia increase the incremental term facilities
from an amount of USD 400,000,000 to an amount of USD 1,550,000,000 and (ii) certain
incremental term lenders have agreed to make available incremental term loans in an amount of
USD 800,000,000 to the Borrowers.
	 
	(I)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 3 relating to the Credit Agreement and pursuant to which the
Credit Agreement has been amended to, inter alia, add an incremental tranche A facility of up
to USD 500,000,000 and an incremental tranche D facility of up to USD 1,520,000,000.
	 
	(J)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 4 relating to the Credit Agreement and pursuant to which the
Credit Agreement has been amended and restated to, inter alia, add new incremental term loans
of up to USD 2,325,000,000 and EUR 250,000,000.

4 / 13

 

	(K)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 5 relating to the Credit Agreement.

	(L)	 	The Confirming Grantor has entered into Swiss law-governed confirmation and amendment
agreements dated August 27, 2010, January 14, 2011 and June 7, 2011, respectively, pursuant to
which, among other provisions, the Confirming Grantor has confirmed that the obligations of
the Credit Agreement as amended under the Amendment No. 2, the Amendment No. 3 and the
Amendment No. 4, respectively, and the obligations of the 2010 Senior Secured Note Indenture
and the February 2011 Senior Secured Note Indenture are also secured by the security interest
created by the Security Document.

	(M)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto, the Lenders from time to
time party thereto and the Administrative Agent (all as defined therein), among others, have
entered into an amendment No. 6 and incremental term loan assumption agreement (the “Amendment
No. 6”) dated August 9, 2011, relating to the Credit Agreement and pursuant to which the
Credit Agreement has been amended and restated to, inter alia, add new incremental Tranche C
term loans of up to USD 2,000,000,000 (the “Second Amended and Restated Credit Agreement”).
The obligations of the Confirming Grantor under the Second Amended and Restated Credit
Agreement, as amended, are subject to the successful completion of a financial strength
review.

	(N)	 	Pursuant to a senior secured note indenture dated August 9, 2011 (the “August 2011 Senior
Secured Note Indenture”), among inter alia RGHL US Escrow II Inc. and RGHL US Escrow II LLC
(collectively, the “August 2011 Escrow Issuers”) and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent, and Wilmington Trust
(London) Limited, as additional collateral agent, certain senior secured notes due 2019 (the
“August 2011 Senior Secured Notes”) were issued by the August 2011 Escrow Issuers to certain
noteholders on the terms and conditions thereof. On 8 September 2011, the August 2011 Secured
Notes were released from escrow, RGHL US Escrow II Inc. and RGHL US Escrow II LLC merged with
and into Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC (together with Reynolds
Group Issuer (Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the
obligations of the August 2011 Escrow Issuers were assumed by the August 2011 Ultimate Issuers
pursuant to a supplemental indenture between, among others, the August 2011 Escrow Issuers,
the August 2011 Ultimate

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	 	 	Issuers, The Bank of New York Mellon, as trustee, principal paying agent, transfer agent,
registrar and collateral agent and Wilmington Trust (London) Limited, as additional
collateral agent.
	 
	(O)	 	On September 8, 2011, the August 2011 Senior Secured Note Indenture and any Senior Secured
Note Documents (as defined in the August 2011 Senior Secured Note Indenture) each became an
“Additional Agreement” under the First Lien Intercreditor Agreement as a result of the
designation of the obligations with respect to the August 2011 Senior Secured Note Indenture
and any Senior Secured Note Documents (as defined in the August 2011 Senior Secured Note
Indenture) as “Additional Obligations” under section 5.02(c) of the First Lien Intercreditor
Agreement (the “August 2011 Senior Secured Notes Designation”).
	 
	 	 	In this respect, it should be noted that the definition of “Loan Documents” in the Security
Document (which is defined to include the “Credit Documents” under, and as defined in, the
First Lien Intercreditor Agreement) extends to any “Additional Agreement” (as defined in the
First Lien Intercreditor Agreement).
	 
	(P)	 	Concurrently with this Agreement, the Confirming Grantor, among others, has entered into a
New York law governed reaffirmation agreement dated as of the date hereof in respect of the
non-Swiss law security to which the Confirming Grantor is a party and the guarantee of the
Credit Agreement by the Confirming Grantor and pursuant to which, among other provisions, the
Confirming Grantor has (i) ratified and affirmed the Amendment No. 6 and the transactions
contemplated thereby, (ii) confirmed and re-affirmed its guarantee of the
obligations as provided in the Second Amended and Restated Credit Agreement and (iii)
confirmed and reaffirmed that its non-Swiss law security extends to the Second Amended and
Restated Credit Agreement and the Additional Obligations as a result of the August 2011 Senior
Secured Notes Designation.
	 
	(Q)	 	The Confirming Grantor and the Collateral Agent (acting for itself and for the benefit and
for the account of the Secured Parties) (collectively, the “Parties” and each a “Party”) have
agreed to enter into this Agreement in order to ensure that the Security Document continues to
secure the Secured Obligations and extends to all obligations of the Confirming Grantor (i)
under the Amendment No. 6 and the Second Amended and Restated Credit Agreement and (ii) in
connection with the August 2011 Senior Secured Notes Designation.

6 / 13

 

NOW IT IS HEREBY AGREED as follows:

1. DEFINITIONS AND CONSTRUCTION

	(a)	 	Unless defined otherwise herein, capitalized terms and expressions used herein shall have
the meaning ascribed to them in the Security Document.

	(b)	 	The Parties agree that this Agreement 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, indemnities and
benefits of the Collateral Agent set forth in the First Lien Intercreditor Agreement are
hereby incorporated by reference.

	(c)	 	For the avoidance of doubt, the Parties confirm, in respect of the Security Document, that
any reference in the Security Document to the term “Credit Agreement” shall be read and
construed as a reference to the Credit Agreement as amended, varied, novated, supplemented,
restated, superseded or extended from time to time, including pursuant to the Amendment No. 6
and the Second Amended and Restated Credit Agreement.

2. EFFECTIVE DATE

	 	 	This Agreement is effective as of the date set forth on its front page (the “Effective
Date”).

3. CONFIRMATION — AMENDMENT

	 	 	Each Party hereby confirms and agrees that any and all Obligations (as defined in the
First Lien Intercreditor Agreement and thus including (i) any and all obligations under or in
connection with the Amendment No. 6 and the Second Amended and Restated Credit Agreement and
(ii) any and all obligations that are “Additional Obligations” as a result of the August 2011
Senior Secured Notes Designation, in each case) constitute “Secured Obligations” as set forth
and defined in the Security Document and that, therefore, any and all obligations under or in
connection with the Amendment No. 6, the Second Amended and Restated Credit Agreement, the
August 2011 Senior Secured Note Indenture and the Senior Secured Note Documents (as defined
in the August 2011 Senior Secured Note Indenture), shall also be secured by the security
interest created by and pursuant to the Security Document.

7 / 13

 

4. CONTINUITY

	 	 	Each Party hereby confirms that, notwithstanding the effectiveness of the Amendment No.
6, the Second Amended and Restated Credit Agreement, the August 2011 Senior Secured Notes
Designation, the August 2011 Senior Secured Note Indenture and the Senior Secured Note
Documents (as defined in the August 2011 Senior Secured Note Indenture), and subject to Legal
Reservations (as defined in the Credit Agreement), the Security Document continues to be in
full force and effect, save as amended by this Agreement, and acknowledges that the security
constituted by the Security Document continues to be in full force and effect so as to
secure, on a pari passu basis, any and all Secured Obligations (as amended by this Agreement)
under or in connection with the Amendment No. 6, the Second Amended and Restated Credit
Agreement, the August 2011 Senior Secured Note Indenture, the Senior Secured Note Documents
(as defined in the August 2011 Senior Secured Note Indenture) and the other Loan Documents.

	 	 	For the avoidance of doubt, for Swiss law purposes, the Collateral Agent shall act and shall
be deemed to act for the benefit and for the account of each of the Secured Parties,
including the Additional Secured Parties (as defined in the First Lien Intercreditor
Agreement) as a result of the August 2011 Senior Secured Notes Designation, for the purposes
of this Agreement, without any prejudice to the rights and duties laid upon the Collateral
Agent under the laws applicable to the Loan Documents.

5. MISCELLANEOUS

	(a)	 	To the extent permitted under the Principal Finance Documents, this Agreement may not be
modified, amended, altered or supplemented, in whole or in part, except by a written agreement
signed by the Parties.

	(b)	 	If any provision of this Agreement is found by any competent authority to be void, invalid or
unenforceable, such provision shall be deemed to be deleted from this Agreement and the
remaining provisions of this Agreement shall continue in full force. In this event, the
Agreement shall be construed, and, if necessary, amended in a way to give effect to, or to
approximate, or to achieve a result which is as close as legally
possible to the result intended by the provision hereof determined to be void, illegal or
unenforceable.

	(c)	 	The rights of a Party to this Agreement shall not be prejudiced or restricted by any
indulgence or forbearance extended to the other Party. A waiver to pursue any breach

8 / 13

 

	 	 	of contract by a Party shall not operate as a waiver of the respective right or as a waiver to
claim any subsequent breach. Any provision of this Agreement may be waived only by a written
statement of the waiving Party.

6. NOTICES

	(a)	 	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.

	(b)	 	Without prejudice to any other method of service of notices and communications provided by
law, any notice or other communication to be given by one Party to the other under this
Agreement shall (unless one Party has by 5 days’ notice to the other Party specified another
address) be given to that other Party, at the respective addresses given in section (c) below
and shall be effective only when received.

	(c)	 	The addresses are the ones respectively listed in the “Notices” provision of the Security
Document; provided that all communications and notices to Wilmington Trust (London) Limited
hereunder shall be given to it at the address set forth below, or to such other address as
Wilmington Trust (London) Limited may hereafter specify.

Wilmington Trust (London) Limited

Third Floor

1 King’s Arms Yard

London EC2R 7AF / England

Facsimile: +44 (0)20 7397 3601

Attention: Paul Barton

7. FURTHER ASSURANCE

	 	 	Subject to the Agreed Security Principles, the Confirming Grantor shall, at its own
expense, promptly, do all acts and execute all documents that are reasonably required or
requested by the Collateral Agent in connection with and for the purpose of the exercise of
the rights of the Collateral Agent hereunder or under the Security Document.

8. GOVERNING LAW

	 	 	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).

9 / 13

 

9. JURISDICTION AND ENGLISH COURTS

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

	(c)	 	This Clause 9 is for the benefit of the Collateral Agent only. As a result and
notwithstanding Clause 9 (a), it does not prevent the Collateral Agent from taking
proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed
by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions.

10. SERVICE OF PROCESS

	 	 	Without prejudice to any other mode of service allowed under any relevant law, the Confirming
Grantor:

	(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 Confirming Grantor of
the process will not invalidate the proceedings concerned.

11. 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.

THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

THE FOLLOWING PAGES ARE THE SIGNATURE PAGES

10 / 13

 

 Signature Page

SIG COMBIBLOC GMBH & CO KG

represented by its general partner SIG Combibloc GmbH

	 	 	 	 	 
	 	 	 
	By:  	/s/ Jennie Blizard 	 
	 	Name:  	Jennie Blizard 	 
	 	Title:  	Attorney 	 

WILMINGTON TRUST (LONDON) LIMITED, by

as Collateral Agent for itself and for the benefit and for the account of the Secured Parties

	 	 	 	 	 
	 	 	 
	By:  	                /s/ Paul Barton
 	 
	 	Name:  	Paul Barton 	 
	 	Title:  	Relationship Manager 	 

11 / 13

 

SCHEDULE 1

Security Document

“Security Document” means the following Swiss law governed agreement between the Confirming
Grantor and the Collateral Agent and as amended and/or confirmed prior to the Effective Date:

Assignment of bank accounts dated March 4, 2010 and entered into between SIG Combibloc GmbH & Co.
KG as assignor and Wilmington Trust (London) Limited acting as collateral agent for itself and for
the benefit and for the account of the secured parties and as assignee.bidfish8kex101020912.htm

BIDFISH.COM, INC.

2591 Dallas Parkway - Suite 102

Frisco, Texas 75034

                                                                                                                                          Tele: 972.963.0000

January 17, 2012

Kevin B. Halter, Jr.

2591 Dallas Parkway - Suite 102

Frisco, Texas 75034

 

 Letter Agreement

	
Re:

	
Burns and Meyers Leases, Clay County, Texas

Gentlemen:

This will serve to memorialize our oral agreement with respect to the captioned Oil and Gas Leases. It is agreed that Kevin B. Halter, Jr. ("Halter"), through a limited partnership to be formed, Halter Oil & Gas, L.P. ("Halter, L.P."), will develop said Leases by drilling wells on specified, platted, drill sites on said Leases within the next two years. These wells are to be drilled at locations set forth on platted sites to be specified by Halter, L.P. The wells will be drilled to a target depth of approximately 6,000 feet. If tested as capable of commercial production, the wells will be completed and put into production.

We represent to you that we are, or will be in the near future, the owner of 100% of the working interest in the Leases, including the platted sites once identified, and that the working interest equals 75% of total production. We agree to assign to Halter, L.P., a working interest equal to 60% of the 75% working interest owned by us, or 45% of total production at the time of drilling, testing and completion of each of the wells to be drilled and completed. We will record such assignment with Clay County, Texas, without delay and will promptly provide a copy of such recorded documents to you.

If this properly reflects our agreement, please sign and return one copy of this letter to us.

 

	 	 
Sincerely,

	 	 
	 	 
/s/ KEVIN B. HALTER, JR.

	 	 
Kevin B. Halter, Jr.

	 	 
President

ACCEPTED AND AGREED:

/s/ KEVIN B. HALTER, JR.

Kevin B. Halter on behalf of

Halter Oil & Gas, L.P.

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