Document:

exv4w479

			
	 
	 	Exhibit 4.479

DATED 8 September 2011

CLOSURE SYSTEMS INTERNATIONAL B.V.

AND

WILMINGTON TRUST (LONDON) LIMITED

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

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
DEED is made the 8th day of September 2011

BETWEEN:

	(1)	 	CLOSURE SYSTEMS INTERNATIONAL B.V. a private company with limited liability (besloten
vennootschap met beperkte aansprakelijkheid), incorporated under the laws of The Netherlands,
having its corporate seat (statutaire zetel) in Amsterdam, The Netherlands and its registered
address at Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands, Chamber of Commerce
registration number 34291082 (the “Chargor”); and
	 
	(2)	 	WILMINGTON TRUST (LONDON) LIMITED in its capacity as additional collateral agent for
the Secured Parties appointed under the First Lien Intercreditor Agreement (the “Collateral
Agent”).

WHEREAS:

	(A)	 	The Chargor has entered into the security over shares agreement dated 25 February
2010 and as subsequently amended by way of a deed of confirmation and amendment dated 16 November
2010 and further amended by a deed of confirmation and amendment dated 1 February 2011, granted by
the Chargor in favour of the Collateral Agent (the “Share Charge”) pursuant to (i) a credit
agreement dated as of 5 November 2009 (as subsequently amended) between, among 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, Reynolds Group Holdings
Limited, Closure Systems International BV, Pactiv Corporation, the other borrowers party thereto,
the lenders from time to time parties thereto, and Credit Suisse AG, as administrative agent (the
"Credit Agreement”), (ii) an indenture dated 5 November 2009 between Reynolds Group Escrow LLC,
Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral agent, as modified, amended or supplemented from time to
time (the “2009 Senior Secured Notes Indenture”), (iii) an indenture dated 15 October 2010 and
entered into between, among others, RGHL US Escrow I Inc., RGHL US Escrow I LLC and RGHL Escrow
Issuer (Luxembourg) I S.A. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited as additional
collateral agent, as modified, amended, or supplemented from time to time (the “2010 Senior Secured
Notes Indenture”) and (iv) an indenture dated 1 February 2011 and entered into between, among
others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer (Luxembourg)
S.A. and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar
and collateral agent and Wilmington Trust (London) Limited, as additional collateral agent, as
modified, amended, or supplemented from time to time (the “February 2011 Senior Secured Notes
Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture, the
2010 Senior Secured Notes Indenture and the February 2011 Senior Secured Notes

- 1 -

 

	 	 	Indenture, certain parties to those documents have entered into a first lien intercreditor
agreement dated 5 November 2009 (as subsequently amended pursuant to Amendment No. 1 and Joinder
Agreement dated as of January 21, 2010) between, among others, The Bank of New York Mellon as
collateral agent and representative under the indenture, Credit Suisse AG as representative under
the Credit Agreement, Wilmington Trust (London) Limited as an additional collateral agent and each
grantor that are parties thereto (the “First Lien Intercreditor Agreement”).
	 
	(C)	 	The parties to the Credit Agreement have entered into an amendment agreement dated 9
August 2011 to amend and restate the terms of the Credit Agreement (“Amendment No. 6”).
	 
	(D)	 	Pursuant to an indenture (the “August 2011 Senior Secured Notes Indenture”) dated as
of 9 August 2011 and entered into between, among others, 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 secured notes (the “August 2011
Senior Secured Notes”) were issued by the August 2011 Escrow Issuers. On or about the date of this
agreement, the August 2011 Senior Secured Notes shall be released from escrow, RGHL US Escrow II
Inc. and RGHL US Escrow II LLC shall be 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 shall be
assumed by the August 2011 Ultimate Issuers pursuant to one or more supplemental indentures
between, among others, the August 2011 Escrow Issuers, the August 2011 Ultimate 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.
	 
	(E)	 	The obligations in respect of the August 2011 Senior Secured Notes and any Senior
Secured Note Documents (as defined in the August 2011 Senior Secured Notes Indenture) will be or
have been designated as “Additional Obligations” under, and in accordance with, section 5.02(c) of
the First Lien Intercreditor Agreement and the August 2011 Senior Secured Notes Indenture and the
Senior Secured Note Documents (as defined in the August 2011 Senior Secured Notes Indenture) are
therefore “Additional Agreements” under the First Lien Intercreditor Agreement (the “Secured Notes
Designation”).
	 
	(F)	 	As a consequence of the execution of the August 2011 Senior Secured Notes Indenture
it is necessary for the Chargor to make certain amendments to the Share Charge, and enter into this
Deed.

NOW THE PARTIES HEREBY AGREE:

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

- 2 -

 

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

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
	 
	 	 	 	Issuers” shall be inserted in alphabetical order:

	 
	 	 	 	““August 2011 Issuers” means the “Issuers” under, and as defined in, the August 2011 Senior Secured Notes Indenture, including their successors in
interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Escrow Issuers “ shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL
US Escrow II LLC, including their successors in interest.”
	 
	 	(c)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Senior Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Senior Secured Notes Indenture” means the indenture dated 9 August 2011 among 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, as amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified from time to time and to which Reynolds Group Issuer Inc., Reynolds
Group Issuer LLC and Reynolds Group Issuer (Luxembourg) S.A. have or will become a party as issuers
by way of RGHL US Escrow II Inc. and RGHL US Escrow II LLC merging with and into Reynolds Group
Issuer Inc. and Reynolds Group Issuer LLC, respectively, and one or more supplemental indentures
being entered into between, among others, the August 2011 Escrow Issuers, Reynolds Group Issuer
Inc., Reynolds Group Issuer LLC, Reynolds Group Issuer (Luxembourg) S.A., 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.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement” shall
be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Credit Agreement” means the second amended and restated credit agreement dated 9 August 2011
among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG &
Co. KGaA, 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 as administrative agent, as further amended,
extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or modified
from time to time.”

- 3 -

 

	 	e)	 	In Clause 1.1 (Definitions) the existing definition of “First Lien Intercreditor
Agreement” shall be deleted in its entirety and replaced with the following: “
	 
	 	 	 	““First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated 5 November
2009 between, among others, the Collateral Agent, The Bank of New York Mellon, as trustee under the
2009 Senior Secured Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011
Senior Secured Notes Indenture and the August 2011 Senior Secured Notes Indenture, Credit Suisse
AG, as administrative agent under the Credit Agreement, and the Loan Parties, as further amended,
novated, supplemented, restated or modified from time to time.”
	 
	 	(f)	 	In Clause 1.1 (Definitions) the existing definition of “Principal Finance
Documents” shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured Notes Indenture,
the 2010 Senior Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture, the
August 2011 Senior Secured Notes Indenture, the Intercreditor Arrangements and any Additional
Agreement.”
	 
	 	(g)	 	Clause 2.2(b) (Further Advances) shall be deleted in its entirety and replaced
with the following:

	 	“2.2(b)	 	(i) Subject to the terms of the Loan Documents, each 2009 Issuer may issue Additional Notes
(as defined in the 2009 Senior Secured Notes Indenture) and the obligations in respect of such
Additional Notes will be deemed to be incorporated into this Agreement as if set out in this
Agreement.
	 
	 	 	 	(ii) Subject to the terms of the Loan Documents, each 2010 Issuer may issue Additional Notes (as
defined in the 2010 Senior Secured Notes Indenture) and the obligations in respect of such
Additional Notes will be deemed to be incorporated into this Agreement as if set out in this
Agreement.
	 
	 	 	 	(iii) Subject to the terms of the Loan Documents, each February 2011 Issuer may issue Additional
Notes (as defined in the February 2011 Senior Secured Notes Indenture) and the obligations in
respect of such Additional Notes will be deemed to be incorporated into this Agreement as if set
out in this Agreement.
	 
	 	 	 	(iv) Subject to the terms of the Loan Documents, each August 2011 Issuer may issue Additional Notes
(as defined in the August 2011 Senior Secured Notes Indenture) and the obligations in respect of
such Additional Notes will be deemed to be incorporated into this Agreement as if set out in this
Agreement.”

- 4 -

 

	3.	 	The Chargor confirms that, with effect from the date of this Deed, the Share Charge
shall continue in full force and effect as amended by this Deed and extends to the obligations in
respect of the Credit Agreement as amended by Amendment No. 6 and to the obligations in respect of
the Additional Agreements (as defined in the First Lien Intercreditor Agreement) as a result of the
Secured Notes Designation.
	 
	4.	 	This Deed is supplemental to and shall be construed as one with the Share Charge and
all documents or instruments which are expressed to supplement the Share Charge shall be construed
accordingly.
	 
	5.	 	This Deed may be executed in any number of counterparts, and by each party on separate
counterparts. Each counterpart is an original, but all counterparts shall together constitute one
and the same instrument. Delivery of a counterpart of this Deed by e-mail attachment or telecopy
shall be an effective mode of delivery.
	 
	6.	 	This Deed and all non-contractual obligations arising out of or in connection with it
shall be governed by and construed in accordance with Hong Kong law.
	 
	7.	 	For the avoidance of doubt, notwithstanding anything contained herein, each of the
protections, immunities, rights, indemnities and benefits conferred on the Collateral Agent under
the Share Charge and the First Lien Intercreditor Agreement shall continue in full force and effect
and shall apply to this Deed as if set out in full herein.
	 
	8.	 	The courts of Hong Kong have exclusive jurisdiction to settle any dispute (a
"Dispute”) arising out of, or connected with this Deed (including a dispute regarding the
existence, validity or termination of this Deed or the consequences of its nullity) or any
non-contractual obligations arising out of or in connection with this Deed.
	 
	9.	 	The parties agree that the courts of Hong Kong are the most appropriate and convenient
courts to settle Disputes between them and, accordingly, that they will not argue to the contrary.
	 
	10.	 	Clauses 8 to 10 (inclusive) of this Deed are for the benefit of the Collateral Agent
only. As a result and notwithstanding Clause 8, it does not prevent the Collateral Agent from
taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent
allowed by law, the Collateral Agent may take concurrent proceedings in any number of
jurisdictions.

- 5 -

 

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

	 	 	 	 	 	 	 

	The Chargor
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	SIGNED, SEALED and DELIVERED

	 	 	)	 	 	 
	as a DEED by

	 	 	)	 	 	
	/s/
Chiara Brophy

	 	 	)	 	 
	for and on behalf of

	 	 	)	 	 	 
	CLOSURE SYSTEMS INTERNATIONAL B.V.

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 

Signature of witness : /s/ Fiona Singh

Name of witness: Fiona Singh

Address of witness: Sydney, Australia

Occupation of witness: LAWYER

- 6 -

 

			
	The Collateral Agent

	 	 
	Signed by 

WILMINGTON TRUST (LONDON )LIMITED
	 	)

)

	 	 	 	 	 

	By:

	 	/s/ Paul Barton
 

	 	 
	 

	 	Name:  Paul Barton 
Relationship Manager	 	 
	 
	 	 	 	 
	Address:

	 	1 King’s Arms Yard	 	 
	 

	 	London EC2R 7AF	 	 
	 

	 	United Kingdom	 	 
	 
	 	 	 	 
	Fax:

	 	+44(0)20 7397 3601	 	 
	 
	 	 	 	 
	Attention:

	 	Elaine Lockhart/Paul Barton	 	 

- 7 -exv4w480

EXHIBIT 4.480

AMENDMENT AGREEMENT NO. 5

Dated 8 September 2011

for

CLOSURE SYSTEMS INTERNATIONAL B.V.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

QUOTA CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010, 16

NOVEMBER 2010, 1 FEBRUARY 2011 AND 9 FEBRUARY 2011

 

in respect of its Quota in CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság

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 AMENDMENT AGREEMENT (the “Agreement”) is made on 8th of September 2011

BETWEEN:

	(1)	 	Closure Systems International B.V., a private company with limited liability incorporated
under the laws of The Netherlands, having its seat as at the date of this Agreement at
Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of
Commerce in Amsterdam, The Netherlands, under registration number 34291082, as owner of the
Quota (as defined below) and chargor under this Agreement (hereinafter referred to as the
“Chargor”);
	 
	 	 	and
	 
	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);

	 	(1)	 	and (2) are together hereinafter referred to as the “Parties” and “Party” means any of
them, as the context may require.

This Agreement is hereby acknowledged and accepted by:

	(3)	 	CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelósségu Társaság a limited liability company
(korlátolt felelosségu társaság) incorporated under the laws of Hungary, having its registered
seat as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court acting as court of registration under registration
number Cg.07-09-013757 (hereinafter referred to as the “Company”).

RECITALS:

	(A)	 	The Parties hereby declare that the Quota Charge Agreement (as defined below) was
originally concluded on 29 January 2010 between the Chargee and the Chargor, pursuant to both
(i) a credit agreement dated 5 November 2009 (as subsequently amended, amended and restated,
supplemented and/or as otherwise modified) between among 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, Pactiv Corporation, Closure Systems
International B.V., the other borrowers party thereto, the lenders from time to time parties
thereto, and Credit Suisse AG as administrative agent (the “Credit Agreement”) and (ii) an
indenture dated 5 November 2009 between, among others, Reynolds Group Escrow LLC, Reynolds
Group DL Escrow Inc. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent and registrar, as modified, amended or supplemented from time to time (the
“2009 Indenture”), and the Quota Charge Agreement was amended pursuant to, among others, (x)
an indenture dated 15 October 2010 between, among others, RGHL US Escrow I Inc., RGHL US
Escrow I LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and The Bank of New York Mellon, as
trustee, principal paying agent, transfer

 

 

	 	 	agent, registrar and collateral agent and Wilmington
Trust (London) Limited as additional collateral agent, as modified, amended or supplemented
from time to time (the
“2010 Indenture”), and (y) an indenture dated 1 February 2011 between, among others,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer (Luxembourg)
S.A. and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent,
registrar and collateral agent and Wilmington Trust (London) Limited, as additional
collateral agent, as modified, amended or supplemented from time to time (the “February 2011
Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Indenture, certain parties have entered into a first lien intercreditor
agreement dated 5 November 2009 between, among others, The Bank of New York Mellon as trustee
under the 2009 Indenture, Credit Suisse AG as representative under the Credit Agreement and
each grantor that are parties thereto, as subsequently amended by Amendment No. 1 and Joinder
Agreement dated 21 January 2010, which added the Collateral Agent as a collateral agent under
the First Lien Intercreditor Agreement (the “First Lien Intercreditor Agreement”).
	 
	(C)	 	Pursuant to an amendment no. 6 and incremental term loan assumption agreement (the
“Amendment No. 6”) dated 9 August 2011, and entered into between, among 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, Pactiv Corporation,
Closure Systems International B.V., the other borrowers party thereto, the lenders from time
to time party thereto and Credit Suisse AG as administrative agent, the Credit Agreement has
been amended and restated in the form of Annex A thereto (the “Second Amended and Restated
Credit Agreement”).
	 
	(D)	 	Pursuant to an indenture (the “August 2011 Secured Notes Indenture”) dated 9 August
2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US Escrow II LLC
(collectively, the “August 2011 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 additional collateral agent, certain secured notes (the “August 2011
Secured Notes”) were issued by the August 2011 Escrow Issuers. On or about the date hereof,
the August 2011 Secured Notes shall be released from escrow, RGHL US Escrow II Inc. and RGHL
US Escrow II LLC shall be 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 shall be
assumed by the August 2011 Ultimate Issuers pursuant to one or more supplemental indentures
between, among others, the August 2011 Escrow Issuers, the August 2011 Ultimate 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.
	 
	(E)	 	The obligations in respect of the August 2011 Secured Notes Indenture and any Senior
Secured Note Documents (as defined therein) will or have been designated as “Additional
Obligations” under, and in accordance with, section 5.02(c) of the First Lien Intercreditor
Agreement.

 

 

	(F)	 	As a consequence of the execution of the Amendment No. 6, the Second Amended and
Restated Credit Agreement and the issuance of the August 2011 Secured Notes, the Parties
agreed to amend the Quota Charge Agreement and enter into this Agreement.

IT IS AGREED as follows:

1. DEFINITIONS AND INTERPRETATION

1.1 Definitions

	 	 	In this Agreement:
	 
	 	 	“Quota Charge Agreement” means the quota charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010, 1 February
2011 and 9 February 2011 between the Chargor and the Chargee.

1.2 Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Quota Charge Agreement has the same meaning in this
Agreement and in any notice given under this Agreement.
	 
	 	(b)	 	The principles of construction set out in the Quota Charge Agreement shall have
effect as if set out in this Agreement.

1.3 Clauses

	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.

2. AMENDMENTS TO THE QUOTA CHARGE AGREEMENT

	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Quota Charge Agreement in alphabetical order:
	 
	 	 	 	““August 2011 Issuers” means the “Issuers” under, and as defined in, the August
2011 Secured Notes Indenture, including their successors in interest.”
	 
	 	 	 	““August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL US Escrow II
LLC, including their successors in interest.”
	 
	 	 	 	““August 2011 Secured Notes Indenture” means the indenture dated 9 August 2011,
among 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,
as amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified from time to time, and to which Reynolds Group
Issuer Inc., Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxembourg)
S.A. have or will become a party as issuers by way of RGHL US Escrow II Inc.
and RGHL US Escrow II LLC merging with and into Reynolds

 

 

	 	 	Group Issuer Inc. and
Reynolds Group Issuer LLC, respectively, and one or more supplemental
indentures being entered into between, among others, the August 2011 Escrow
Issuers, Reynolds Group Issuer Inc., Reynolds Group Issuer LLC, Reynolds Group
Issuer (Luxembourg) S.A., 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, attached as Part VIII
of Schedule 3 (August 2011 Secured Notes Indenture) to this Agreement.”
	 
	 	 	““August 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 6 and incremental term loan assumption agreement dated 9 August 2011
entered into between, among 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. and Pactiv Corporation as borrowers,
Reynolds Group Holdings Limited, the Guarantors from time to time party thereto (as
defined therein), the Lenders from time to time party thereto, the other Lenders
party thereto and the Administrative Agent (as defined therein), as amended,
novated, supplemented, restated or modified from time to time, the text of which is
attached as Part IX of Schedule 3 (August 2011 Incremental Assumption and Amendment
Agreement) to this Agreement.”

	 	(b)	 	Clause 2.1 (i) of the Quota Charge Agreement shall be replaced in its entirety
with the following wording:

	 	 	 	“(i) USD 9,570,000,000 (that is nine billion five
hundred and seventy million U.S. $) and EUR 780,000,000 (that is seven
hundred and eighty million euro) (the “Secured Principal”); plus”

	 	(c)	 	Schedule 3 of the Quota Charge Agreement shall be supplemented with Schedule A
(Part VIII of Schedule 3 (August 2011 Secured Notes Indenture)) of this Agreement.
	 
	 	(d)	 	Schedule 3 of the Quota Charge Agreement shall be supplemented with Schedule B
(Part IX of Schedule 3 (August 2011 Incremental Assumption Agreement)) of this
Agreement.

	3.	 	REGISTRATION OF CHANGES
	 
	3.1	 	The Chargor shall file with the Court of Registration an extract of this Agreement,
attached as Schedule C (Form of the Extract of this Quota Charge Agreement) (the “Extract”)
within 10 (ten) Business Days of the date of this Agreement, in order to inform the Court of
Registration of the amendment of the Quota Charge Agreement.
	 
	3.2	 	The Parties hereby authorise Oppenheim Ügyvédi Iroda (1053 Budapest, Károlyi Mihály
u. 12., Hungary) to act before the Court of Registration in connection with the filing
(including but not limited to sign any documents in relation thereto) of the Extract with the
Court of Registration.

 

 

	4.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	4.1	 	Continuing obligations
	 
	 	 	The provisions of the Quota Charge Agreement shall, save as amended by this Agreement,
continue in full force and effect.
	 
	4.2	 	Further assurance
	 
	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.
	 
	5.	 	INCORPORATION OF TERMS
	 
	 	 	The provisions of clause 8 (Remedies and waivers), clause 9 (Severability), clause 13
(Notices) and clause 15 (Jurisdiction) of the Quota Charge Agreement shall be incorporated
into this Agreement as if set out in full in this Agreement and as if references in those
clauses to “this Agreement” are references to this Agreement.
	 
	6.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by Hungarian law.
	 
	7.	 	RIGHTS OF THE COLLATERAL AGENT
	 
	 	 	Notwithstanding anything contained herein, 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 accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Quota Charge Agreement and the First Lien Intercreditor Agreement shall continue in full
force and effect and shall apply to this Agreement as if set out in full herein.

 

 

SCHEDULE A

“SCHEDULE 3

Part VIII

AUGUST 2011 SECURED NOTES INDENTURE”

(To Be Inserted)

 

 

SCHEDULE B

“SCHEDULE 3

Part IX

AUGUST 2011 INCREMENTAL ASSUMPTION AND AMENDMENT AGREEMENT”

(To Be Inserted)

 

 

SCHEDULE C

ÜZLETRÉSZ
ZÁLOGSZERZŐDÉST MÓDOSÍTÓ SZERZŐDÉS KIVONATA

extract of the amendment to the quota charge agreement

a cégnyilvántartásról, a bírósági cégeljárásról és a végelszámolásról szóló 2006. évi V. törvény 2.

számú melléklete II. 1. ea) pontjának figyelembe vételével

with regard to the Clause II.1.ea) of Schedule No. 2 of the Act V of 2006 on Public Company

Information, Company Registration and Winding-up Proceedings

(a továbbiakban: “Kivonat”) amely az alábbi felek között készült Budakeszin, 2011. _______ _.
napján létrejött módosító
szerződés (a továbbiakban: “Szerződés”) alapján:

(hereinafter referred to as the “Extract”), which has been prepared on the basis of the
amendment agreement entered into by and between the parties named below in Budakeszi on __
__________ 2011 (hereinafter referred to as the “Agreement”):

	(1)	 	A Wilmington Trust (London) Limited, amelynek székhelye 1 King’s Arms Yard, London EC2R
7AF, Egyesült Királyság cím alatt található, képviseli __________________________,
meghatalmazás alapján,
	 
	(1)	 	Wilmington Trust (London) Limited, having its registered office at: 1 King’s Arms
Yard, London EC2R 7AF, United Kingdom, represented by __________________________, under a
power of attorney,
	 
	 	 	mint zálogjogosult (a továbbiakban: “Zálogjogosult”)
	 
	 	 	as chargee (hereinafter referred to as the “Chargee”),

valamint

and

	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V., amelynek székhelye a Teleportboulevard 140, 1043 EJ
Amszterdam, Hollandia cím alatt található, és amelyet az amszterdami Kereskedelmi Kamaránál a
34291082-es számon tartanak nyilván, képviseli dr. Horvai-Hillenbrand Péter, meghatalmazás
alapján,
	 
	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V. having its registered seat at Teleportboulevard
140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of Commerce in Amsterdam
with registration number 34291082, represented by dr. Péter Horvai-Hillenbrand, under a power
of attorney,
	 
	 	 	mint zálogkötelezett (a továbbiakban: “Zálogkötelezett”)
	 
	 	 	as chargor (hereinafter referred to as the “Chargor”).

Fent nevezett felek a jelen Kivonatban az alábbiakat kívánják rögzíteni:

The parties named above wish to declare the following in the present Extract:

	1.	 	A Zálogkötelezett és a Zálogjogosult a 2010. január 29-én kelt zálogszerzodéssel (a
“Zálogszerződés”) üzletrész zálogjogot alapítottak a Zálogjogosult javára Zálogkötelezettnek a
CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelosségu Társaságban (székhelye: 8000
Székesfehérvár, Berényi út 72-100., Magyarország; cégjegyzékszáma a Fejér Megyei Bíróság mint
Cégbíróságnál: Cg. 07-09-013757,

 

 

	 	 	adószáma: 14122952-1-07, a továbbiakban: “Társaság”) fennálló
1.246.180.000,- Ft, azaz egymilliárd-kétszáznegyvenhatmillió-egyszáznyolcvanezer forint
névértékű, a Társaság jegyzett
tőkéjének 100%-át megtestesítő
üzletrészén. A Zálogszerződést a
Zálogkőtelezett és a Zálogjogosult 2010. május 4., 2010. november 16., 2011. február 1. és
2011. február 9. napján módosította.
	 
	 	 	The Chargor and the Chargee created a quota charge in favour of the Chargee over the
quota of the Chargor held in CSI Hungary Gyártó és
Kereskedelmi Korlátolt Felelősségű
Társaság (registered seat: 8000 Székesfehérvár, Berényi út 72-100., Hungary, company
registration number: Cg. 07-09-013757 with the Fejér County Court as the Court of
Registration, tax number: 14122952-1-07, hereinafter referred to as the “Company”) with a
nominal value of HUF 1,246,180,000 (i.e. one billion two hundred fourty six million one
hundred and eighty thousand Forint) representing 100% of the Company’s registered capital by
virtue of the quota charge agreement dated 29 January 2010 (the “Quota Charge Agreement”).
The Quota Charge Agreement was amended by the Chargor and the Chargee on 4 May 2010, 16
November 2010, 1 February 2011 and 9 February 2011.

	2.	 	A Zálogkötelezett és a Zálogjogosult a
Szerződés rendelkezései alapján újból módosították a
Zálogszerződés rendelkezéseit, többek között felemelték a Kötelezettségek összegét, melynek
biztosítására az üzletrész zálogjog szolgál.
	 
	 	 	The Chargor and the Chargee have amended again the terms of the Quota Charge Agreement in
accordance with the provisions of the Agreement; and, among others, increased the amount of
the Obligations secured by the quota charge.
	 
	3.	 	Jelen Kivonat a Szerződés rendelkezései
alapján — kizárólag a Zálogszerződés módosításának
cégbírósági bejelentése
céljából — készült, és nem
helyettesíti a felek között a Szerződésben
foglaltak szerint létrejött részletes
megállapodást. A Szerződés és jelen Kivonat közötti
esetleges ellentmondás vagy eltérés esetén a
Szerződés rendelkezései az irányadóak.
	 
	 	 	This Extract has been prepared on the basis of the terms and conditions set out in the
Agreement exclusively for the purpose of giving notice to the court of registration on the
amendment to the Quota Charge Agreement, and therefore, it may not substitute the detailed
agreement between the parties contemplated in the Agreement. In case of any discrepancy
between the Agreement and this Extract, the provisions of the Agreement shall prevail.
	 
	4.	 	Jelen Kivonat magyar és angol nyelven készült,
a magyar és az angol nyelvű változat közötti
eltérés esetén a magyar nyelvű verzió az irányadó.
	 
	 	 	This Extract has been prepared in the Hungarian and English language. In the event of any
discrepancy between the Hungarian language and the English language versions, the Hungarian
language version shall prevail.
	 
	5.	 	A Zálogkötelezett és a Zálogjogosult meghatalmazzák az Oppenheim Ügyvédi Irodát (cím: 1053
Budapest, Károlyi Mihály u. 12.) hogy a Fejér Megyei Bíróságnál, mint Cégbíróságnál a Kivonat
benyújtásával kapcsolatban eljárjon (beleértve, de nem kizárólag bármely, ehhez kapcsolódó
dokumentum aláírását).

 

 

	 	 	The Chargor and the Chargee hereby authorise Oppenheim Law Firm (address: 1053 Budapest,
Károlyi Mihály u. 12.) to act before the Fejér County Court as the Court of Registration in
connection with filing (including but not limited to sign any documents relating thereto)
this Extract.

Budakeszi, 2011. ___________ __ / __ ___________ 2011

	 	 	 

	 
	WILMINGTON TRUST (LONDON)
	 	CLOSURE SYSTEMS
	LIMITED
	 	INTERNATIONAL B.V.
	 	 	 
	Zálogjogosult / Chargee
	 	Zálogkötelezett / Chargor

 

 

SIGNATURES

Closure Systems International B.V. — as Chargor

By:

Wilmington Trust (London) Limited — as Chargee

By:

CSI
Hungary Gyártó és Kereskedelmi Korlátolt
Felelősségu Társaság — as Company

By:

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