Document:

exv4w477

Exhibit 4.477

DATE 8
September  2011

EVERGREEN PACKAGING 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)	 	EVERGREEN PACKAGING 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, 1043EJ, Amsterdam, The Netherlands, Chamber of
Commerce registration number 24321403 (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 4 May 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

2

 

	 	 	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

	 	 	)	 	 	 
	EVERGREEN PACKAGING 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
 	 
	 	Paul Barton
 	 
	 	Name:  	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 -exv4w478

EXHIBIT 4.478

DATED 8 SEPTEMBER 2011

CLOSURE SYSTEMS INTERNATIONAL (HONG KONG) LIMITED

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 (HONG KONG) LIMITED registered in Hong Kong with
company number 1184353 (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 debenture 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 “Debenture”) 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 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”).

- 1 -

 

	(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 Debenture, 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.	 	With effect from the date of this Deed, the Debenture 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.”

- 2 -

 

	 	(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.”
	 
	 	(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

- 3 -

 

	 	 	 	2011 Senior Secured Notes Indenture, the August 2011 Senior Secured Notes Indenture,
the Intercreditor Arrangements and any Additional Agreement.”
	 	(g)	 	Clause 5.3.2 (Further Advances) shall be deleted in its entirety and replaced
with the following:

	 	“5.3.2	 	(a) 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 Debenture as if set out in this Debenture.
	 
	 	 	 	(b) 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 Debenture as if set out in this Debenture.
	 
	 	 	 	(c) 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 Debenture as if set out in this
Debenture.”
	 
	 	 	 	(d) 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 Debenture as if set out in this
Debenture.”

	3.	 	The Chargor confirms that, with effect from the date of this Deed, the Debenture 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 new 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 Debenture and all
documents or instruments which are expressed to supplement the Debenture 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

- 4 -

 

	 	 	Debenture 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 )	 	 	 	 	 	
	 

	 	 	 	 	)	 	 
	by

	 	/s/ Karen M. Mower
	 	 	)	 	 
	 

	 	 	 	 	 	 	 
	under power of attorney
	 

	 	)	 	 
	dated 19 July 2011
	 

	 	)	 	 
	and thereby executed by
	 

	 	)	 	 
	CLOSURE SYSTEMS INTERNATIONAL
	 

	 	)	 	 
	(HONG KONG) LIMITED
	 

	 	)	 	 
	as its Deed in the presence of:
	 

	 	)	 	 

	 	 	 	 	 
	 	 	 
	 	/s/ Stephen Mihaljevic
 	 
	 	Name of witness: Stephen Mihaljevic 	 
	 	Address of witness: Sydney, Australia

Occupation of witness: Solicitor 	 
	 

- 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 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]