Document:

exv4w373

EXHIBIT 4.373

AMENDMENT AGREEMENT NO. 4

dated 9 February 2011

for

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY) KFT.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

CHARGE AND SECURITY DEPOSIT OVER BANK

ACCOUNTS AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010,

16 NOVEMBER 2010 AND 1 FEBRUARY 2011

 

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 9 February 2011

BETWEEN:

	(1)	 	Closure Systems International Holdings (Hungary) Vagyonkezelő Korlátolt Felelősségű Társaság,
a limited liability company incorporated under the laws of Hungary, having its registered
office 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. 07-09-015084, as 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.

RECITALS:

	(A)	 	The Parties hereby declare that the Charge and Security Deposit over Bank Accounts
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) 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 BV, the
other borrowers party thereto, the lenders from time to time parties thereto, and Credit
Suisse AG (formerly known as Credit Suisse) 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 Charge and Security Deposit over Bank Accounts Agreement was
amended on 16 November 2010 pursuant to 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 (the
“2010 Indenture”) and the Charge and Security Deposit over Bank Accounts Agreement was further
amended on 1 February 2011 pursuant to an indenture dated 1 February 2011 between, among
others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer
(Luxembourg) S.A. as issuers, The Bank of New

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	 	 	York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral
agent and Wilmington Trust (London) Limited as additional collateral agent (the “February
2011 Secured Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Secured Notes 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. 4 and incremental term loan assumption agreement (the
“Amendment and Incremental Assumption Agreement”) dated on or about the date of this Agreement
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 (formerly known as Credit Suisse) as administrative agent, the Credit Agreement has been
amended and restated in the form of Annex A thereto (the “Amended and Restated Credit
Agreement”).
	 
	(D)	 	As a consequence of the Amendment and Incremental Assumption Agreement and the
Amended and Restated Credit Agreement, the Parties agreed to amend the Charge and Security
Deposit over Bank Accounts Agreement and enter into this Agreement.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Charge and Security Deposit over Bank Accounts Agreement” means the charge and security
deposit over bank accounts agreement concluded in the form of a notarial deed dated 29
January 2010, as amended on 4 May 2010, 16 November 2010 and 1 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 Charge and Security Deposit over Bank Accounts
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 Charge and Security Deposit over
Bank Accounts Agreement shall have effect as if set out in this Agreement.

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	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 CHARGE AND SECURITY DEPOSIT OVER BANK ACCOUNTS AGREEMENT
	 
	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Charge and Security Deposit over Bank Accounts Agreement in alphabetical order:
	 
	 	 	 	““February 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 4 and incremental term loan assumption agreement dated 9 February 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, Pactiv Corporation
and Closure Systems International B.V. as borrowers, the Guarantors from time
to time party thereto (as defined therein), the Lenders from time to time
party thereto (as defined therein) 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 VII of Schedule 3 (Incremental
Assumption and Amendment Agreement) to this Agreement.”
	 
	 	(b)	 	Schedule 3 of the Charge and Security Deposit over Bank Accounts Agreement
shall be supplemented with Schedule A (Part VII of Schedule 3 (February 2011
Incremental Assumption and Amendment Agreement)) of this Agreement.

	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	Continuing obligations
	 
	 	 	The provisions of the Charge and Security Deposit over Bank Accounts Agreement shall,
save as amended by this Agreement, continue in full force and effect.
	 
	3.2	 	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.
	 
	4.	 	INCORPORATION OF TERMS
	 
	 	 	The provisions of clause 10 (Remedies and waivers), clause 11 (Severability), clause 15
(Notices) and clause 17 (Jurisdiction) of the Charge and Security Deposit over Bank Accounts
Agreement shall be incorporated into this Agreement as if set out in full in

- 3 -

 

	 	 	this Agreement
and as if references in those clauses to “this Agreement” are references to this Agreement.

	5.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by Hungarian law.
	 
	6.	 	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
Charge and Security Deposit over Bank Accounts 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.

[Certification of the Public Notary and the related powers of attorney inserted]

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SCHEDULE A

“SCHEDULE 3

Part VII

February 2011 Incremental Assumption and Amendment Agreement”

(To Be Inserted)

- 5 -

 

SIGNATURES

Closure Systems International Holdings (Hungary) Kft. - as Chargor

By:

Wilmington Trust (London) Limited - as Chargee

By:

- 6 -exv4w374

EXHIBIT 4.374

AMENDMENT AGREEMENT NO. 4

dated 9 Febuary 2011

for

CSI HUNGARY GYÁRTÓ ÉS KERESKEDELMI KORLÁTOLT FELELŐSSÉGŰ 
TÁRSASÁG

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

FLOATING CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010,

16 NOVEMBER 2010 AND 1 FEBRUARY 2011

 

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 9 February 2011

BETWEEN:

	(1)	 	CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság, a limited liability
company incorporated under the laws of Hungary, having its registered office 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, as
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.

RECITALS:

	(A)	 	The Parties hereby declare that the Floating 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) 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 BV, the other borrowers party thereto, the lenders
from time to time parties thereto, and Credit Suisse AG (formerly known as Credit Suisse) 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 Floating
Charge Agreement was amended on 16 November 2010 pursuant to 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 (the “2010 Indenture”) and the Floating Charge Agreement was
further amended on 1 February 2011 pursuant to an indenture dated 1 February 2011 between,
among others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer
(Luxembourg) S.A. as issuers, The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and 

- 1 -

 

	 	 	collateral agent and Wilmington Trust (London) Limited as additional collateral agent (the “February
2011 Secured Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and the
February 2011 Secured Notes 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. 4 and incremental term loan assumption agreement (the “Amendment
and Incremental Assumption Agreement”) dated on or about the date of this Agreement 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
(formerly known as Credit Suisse) as administrative agent, the Credit Agreement has been
amended and restated in the form of Annex A thereto (the “Amended and Restated Credit
Agreement”).
	 
	(D)	 	As a consequence of the Amendment and Incremental Assumption Agreement and the Amended and
Restated Credit Agreement, the Parties agreed to amend the Floating Charge Agreement and enter
into this Agreement.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Floating Charge Agreement” means the floating charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010 and 1
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 Floating 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 Floating Charge Agreement shall
have effect as if set out in this Agreement.

- 2 -

 

	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 FLOATING 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 Floating Charge Agreement in alphabetical order:
	 
	 	 	 	““February 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 4 and incremental term loan assumption agreement dated 9 February 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, Pactiv Corporation and Closure
Systems International B.V. as borrowers, the Guarantors from time to time party
thereto (as defined therein), the Lenders from time to time party thereto (as
defined therein) 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 VII of Schedule 3 (Incremental Assumption and Amendment Agreement)
to this Agreement.”
	 
	 	(b)	 	Schedule 3 of the Floating Charge Agreement shall be supplemented with Schedule
A (Part VII of Schedule 3 (February 2011 Incremental Assumption and Amendment
Agreement)) of this Agreement.

	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	Continuing obligations
	 
	 	 	The provisions of the Floating Charge Agreement shall, save as amended by this
Agreement, continue in full force and effect.
	 
	3.2	 	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.
	 
	4.	 	INCORPORATION OF TERMS
	 
	 	 	The provisions of clause 7 (Remedies and waivers), clause 8 (Severability), clause 12
(Notices) and clause 14 (Jurisdiction) of the Floating 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.

- 3 -

 

	5.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by Hungarian law.
	 
	6.	 	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
Floating 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.

[Certification of the Public Notary and the related powers of attorney inserted]

- 4 -

 

SCHEDULE A

“SCHEDULE 3

Part VII

February 2011 Incremental Assumption and Amendment Agreement”

(To Be Inserted)

- 5 -

 

SIGNATURES

CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság - as Chargor

By:

Wilmington Trust (London) Limited - as Chargee

By:

- 6 -

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