Document:

exv4w191

EXHIBIT 4.191

 

AMENDMENT TO THE PLEDGE AGREEMENT OVER RECEIVABLES AND OTHER

CREDIT RIGHTS

between

The Bank of New York Mellon

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

Agreement

and

SIG Combibloc do Brasil Ltda.

as Grantor

 

Dated as of

May 4, 2010

 

 

 

 

AMENDMENT TO THE PLEDGE AGREEMENT OVER RECEIVABLES AND OTHER

CREDIT RIGHTS

This Amendment to the Pledge Agreement over Receivables and Other Credit Rights (the
“Amendment”) is made as of May 4, 2010 by and among:

     (a) 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, 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

     (b) 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, herein represented in accordance with
its Charter Documents (together with its successors and permitted assignees, the
“Grantor”);

     WHEREAS, on March 30, 2010, the parties hereto entered into the Pledge Agreement over
Receivables and Other Credit Rights (the “Pledge Agreement”);

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

     Amendment No. 2 and Incremental Term Loan Assumption Agreement dated as on or about the date
of this Amendment, 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.

     WHEREAS, the parties recognize and agree that the security interest created under the Pledge
Agreement shall extend to secure the obligations created under the Additional Document
(“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 description of the Secured
Obligations contained in Schedule A-I of the Pledge Agreement in order to adjust such description
to the Additional Covered Obligations. Accordingly, the parties hereto amend Schedule A-I of the
Pledge Agreement, which shall be in force and effect as of the date hereof with the following
language:

“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 product of 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 May 5, 2016 (subject to prepayment and
acceleration provisions);

	 	(ii)	 	a senior secured 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) 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, and which have an interest rate equivalent to the
Applicable Margin plus (a) (i) the greater of 2.00% per annum and (ii) (x) the product
of 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)	 	a senior secured 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, and which have 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) 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$1,550,000,000
with an interest rate equivalent, as applicable, to the rates described in clauses (i)
through (iv) above, except as otherwise set forth in the Credit Agreement or in the
applicable Incremental Assumption Agreement, which shall be repaid in full as set forth
in the relevant Incremental Assumption Agreement.

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.

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.”

     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.

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

	 	 	 	 	 	 	 

	By:

	 	/s/ Marcos Canecchio Ribeiro	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Marcos Canecchio Ribeiro	 	 	 	 
	 

	 	Title: attorney-in-fact	 	 	 	 
	 
	 	 	 	 	 	 
	SIG Combibloc do Brasil Ltda.	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Edimara Iansen Wieczorek	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Edimara Ianser Wieczorek	 	 	 	 
	 

	 	Title: Legal Manager	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Ricardo Lança Rodriguez	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Ricardo Lança Rodriguez	 	 	 	 
	 

	 	Title: Executive Manager	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESSES:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	/s/ Maria Antonietah Padula
	 	 	 	/s/ Cristiane Parladore
	 

	 	 
	 	 	 	 
	 

	 	Name: Maria Antonietah Padula
	 	 	 	Name: Cristiane Parladore
	 

	 	ID: 18476393
	 	 	 	ID: 16.490.382exv4w192

EXHIBIT 4.192

 

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

SIG Euro Holding AG & Co. KGaA

and

SIG Beverages Germany GmbH

as Grantors

and

SIG Beverages Brasil Ltda.

as the Company

 

Dated as of

May 4, 2010

 

 

 

 

AMENDMENT TO THE QUOTA PLEDGE AGREEMENT 

This Amendment to the Quota Pledge Agreement (the “Amendment”) is made as of May 4, 2010 by
and among:

     (a) SIG Euro Holding AG & Co. KGaA, a company, duly organized and existing in
accordance with the laws of Germany, with its registered office at Rurstraße 58, 52441 Linnich,
Germany, registered with the Commercial Register of the Local Court Düren under HR B 5754, herein
duly represented in accordance with its Charter Documents (together with its successors and
permitted assignees, “SIG Euro”);

     (b) SIG Beverages Germany GmbH, a company duly incorporated and existing under
the laws of Germany, with its head office at Weilheimer Strasse 5, 79761 Wadshut Tiengen, Germany,
registered with the Commercial Register of the Local Court Freiburg i. Br. under HR B 702482,
herein duly represented in accordance with its Charter Documents, “SIG Beverages Germany”
and together with SIG Euro, the “Grantors”);

     (c) 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, “Collateral Agent”); and

     (d) SIG Beverages 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 — A, 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 57.866.238/0001-11 (the “Company”).

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

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

     Amendment No. 2 and Incremental Term Loan Assumption Agreement dated on or about the date of
this Amendment, 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.

 

 

     WHEREAS, the parties recognize and agree that the security interest created under the Pledge
Agreement shall extend to secure the obligations created under the Additional Document
(“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 description of the Secured
Obligations contained in Schedule A-I of the Pledge Agreement in order to adjust such description
to the Additional Covered Obligations. Accordingly, the parties hereto amend Schedule A-I of the
Pledge Agreement, which shall be in force and effect as of the date hereof with the following
language:

“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 product of 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 May 5, 2016 (subject to prepayment and
acceleration provisions);

	 	(ii)	 	a senior secured 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) 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, and which have an interest rate equivalent to the
Applicable Margin plus (a) (i) the greater of 2.00% per annum and (ii) (x) the

 

 

	 	 	 	product of 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)	 	a senior secured 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, and which have 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) 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$1,550,000,000
with an interest rate equivalent, as applicable, to the rates described in clauses (i)
through (iv) above, except as otherwise set forth in the Credit Agreement or in the
applicable Incremental Assumption Agreement, which shall be repaid in full as set forth
in the relevant Incremental Assumption Agreement.

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.

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.”

     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 Euro Holding AG & Co. KGaA 

	 	 	 	 	 	 	 	 	 

	By:

	 	/s/ Edimara Iansen Wieczorek
 

Edimara Iansen Wieczorek
	 	 	 	 	 	 
	 

	 	Title: attorney-in-fact	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	SIG Beverages Germany GmbH	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Edimara Iansen Wieczorek	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Edimara Iansen Wieczorek	 	 	 	 	 	 
	 

	 	Title: attorney-in-fact	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	SIG Beverages Brasil Ltda.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Félix Colas Morea	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Félix Colas Morea	 	 	 	 	 	 
	 

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

	 	/s/ Marcos Canecchio Ribeiro	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Marcos Canecchio Ribeiro	 	 	 	 	 	 
	 

	 	Title: attorney-in-fact	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESSES:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	/s/ Maria Antonietah Padula
 

Name: Maria Antonietah Padula
	 	 	 	/s/ Cristiane Parladore
 

Name: Cristiane Parladore
	 	 
	 

	 	ID: 18476393
	 	 	 	ID: 16.490.382

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