Document:

ex104.htm

    

     

    SUPPLEMENTAL
INDENTURE

     

    

     

    This
SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”) is dated as of February 5, 2008, among BERRY PLASTICS
CORPORATION (or its successor) (the “Company”), WELLS
FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee
under the indenture referred to below (the “Trustee”), CAPTIVE
HOLDINGS, INC., CAPTIVE PLASTICS, INC., CAPLAS NEPTUNE, LLC, CAPLAS LLC, and
GRAFCO INDUSTRIES LIMITED PARTNERSHIP (each, a “New Guarantor” and
collectively, the “New
Guarantors”).

     

    W I T N E
S S E T H :

     

    WHEREAS,
the Company has heretofore executed and delivered to the Trustee an indenture
dated as of September 20, 2006 (as amended, supplemented or otherwise modified
from time to time, the “Indenture”),
providing for the issuance of the Company’s 8 7/8 % Second Priority Senior
Secured Fixed Rate Notes due 2014 (the “Fixed Rate Notes”) in
the aggregate principal amount of $525,000,000 and Second Priority Senior
Secured Floating Rate Notes due 2014 (the “Floating Rate Notes”)
in the aggregate principal amount of $225,000,000 (the Fixed Rate Notes and
Floating Rate Notes being collectively referred to as the “Securities”);

     

    WHEREAS,
the Company has entered into that certain Stock Purchase Agreement dated as of
December 21, 2007, among Captive Holdings, Inc., Captive Holdings, LLC and the
Company, as amended from time to time (the “Stock Purchase
Agreement”) pursuant to which the Company purchased (the “Stock Purchase”) all
of the issued and outstanding capital stock of Captive Holdings,
Inc.;

     

    WHEREAS,
upon the effectiveness of the Stock Purchase, each New Guarantor shall be a
Restricted Subsidiary of the Company;

     

    WHEREAS,
Section 4.11 of the Indenture provides that the Company shall cause each
Restricted Subsidiary that is a Domestic Subsidiary that guarantees any
indebtedness of the Company or any of its Restricted Subsidiaries (i) to execute
and deliver to the Trustee a supplemental indenture pursuant to which such
Restricted Subsidiary shall guarantee payment of the Securities and (ii) to
become a party to the Security Agreement and to execute and file all documents
and instruments necessary to grant to the Collateral Agent a perfected security
interest in the Collateral owned by such Restricted Subsidiary;

     

    WHEREAS,
as of the date hereof, each New Guarantor will guarantee indebtedness of the
Company under the following agreements: (i) the Senior Secured Bridge Loan
Credit Agreement dated as of February 5, 2008, among the Company, the Lenders
party hereto from time to time, Bank of America, N.A., as Administrative Agent
and Collateral Agent for the Lenders, and the other financial institutions party
thereto; (ii) the Amended and Restated Revolving Credit Agreement dated as of
April 3, 2007 among the Company, Berry Plastics Group, Inc. (“Holdings”), certain
domestic subsidiaries of the Company party thereto from time to time, the
lenders party thereto from time to time, Bank of America, N.A., as Collateral
Agent

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    and
Administrative Agent and the other financial institutions party thereto, (iii)
the Second Amended and Restated Term Loan Credit Agreement dated as of April 3,
2007, among the Company, Holdings, the lenders party thereto from time to time,
Credit Suisse, Cayman Islands Branch, as Collateral Agent and Administrative
Agent and the other financial institutions party thereto, (iv) the indenture
among the Company (as successor to Covalence Specialty Materials Corp.), certain
subsidiaries of the Company party thereto and Wells Fargo Bank, N.A., as
trustee, dated as of February 16, 2006 (as amended, supplemented or otherwise
modified from time to time), providing for the issuance of 101⁄4% Senior
Subordinated Notes due 2016 in the aggregate principal amount of $265,000,000,
and (v) the indenture between the Company and Wells Fargo Bank, N.A., as trustee
dated as of September 20, 2006 (as amended, supplemented or otherwise modified
from time to time), providing for the issuance of the Company’s 11% Senior
Subordinated Notes due 2016 in the aggregate principal amount of $425,000,000,
and therefore is required to guarantee payment of the Securities;

    

    WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee, the Company and the New
Guarantors are authorized to execute and deliver this Supplemental
Indenture;

     

    NOW
THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Guarantors,
the Company, and the Trustee mutually covenant and agree for the equal and
ratable benefit of the Holders of the Securities as follows:

     

    1. Definitions.  Capitalized
terms used herein and not defined herein have the meanings ascribed to such
terms in the Indenture.

     

    2. Agreement to
Guarantee.  Each New Guarantor hereby agrees, jointly and
severally with all existing Guarantors, to unconditionally guarantee the
Company’s obligations under the Securities and the Indenture on the terms and
subject to the conditions set forth in Article 12 of the Indenture and to be
bound by all other applicable provisions of the Indenture and the Securities and
to perform all of the obligations and agreements of a Guarantor under the
Indenture.

     

    3. Notices.  All
notices or other communications to the New Guarantors shall be given as provided
in Section 13.02 of the Indenture.

     

    4. Ratification of Indenture;
Supplemental Indenture Part of Indenture.  Except as expressly
amended hereby, the Indenture is in all respects ratified and confirmed and all
the terms, conditions and provisions thereof shall remain in full force and
effect.  This Supplemental Indenture shall form a part of the
Indenture for all purposes, and every Holder of Securities heretofore or
hereafter authenticated and delivered shall be bound hereby.

     

    5. Governing
Law.  THIS
SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6. Trustee Makes No
Representation.  The Trustee makes no representation as to the
validity or sufficiency of this Supplemental Indenture.

     

    7. Counterparts.  The
parties may sign any number of copies of this Supplemental
Indenture.  Each signed copy shall be an original, but all of them
together represent the same agreement.

     

    8. Effect of
Headings.  The Section headings herein are for convenience only
and shall not effect the construction thereof.

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to
be duly executed as of the date first above written.

     

    

    THE NEW
GUARANTORS:

    

    CAPTIVE
HOLDINGS, INC.

    CAPTIVE
PLASTICS, INC.

    CAPLAS
NEPTUNE, LLC

    CAPLAS
LLC

    

    By: /s/  Jeffrey
Thompson________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

    

    

    GRAFCO
INDUSTRIES LIMITED PARTNERSHIP

    

    By:
Caplas Neptune, LLC

           its
General Partner

    

           By:
/s/  Jeffrey
Thompson________

          Name:
Jeffrey Thompson

          Title:
Authorized Signatory

    

    

    BERRY
PLASTICS CORPORATION

     

    By:/s/  Jeffrey
Thompson___________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WELLS
FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE

     

    By:      /s/  Joseph P.
O’Donnell

    Name:
Joseph P. O’Donnell

    Title:
Vice Presidentex105.htm

    

     

    SUPPLEMENT
dated as of February 5, 2008 (this “Supplement”), to the
Collateral Agreement dated as of September 20, 2006 (as amended, restated,
supplemented, waived or otherwise modified from time to time, the “Collateral
Agreement”), among BERRY PLASTICS CORPORATION (formerly known as Berry
Plastics Holding Corporation, the “Issuer”), WELLS FARGO
BANK, N.A., as collateral agent (in such capacity, the “Collateral Agent”)
for the Secured Parties (as defined therein), CAPTIVE HOLDINGS, INC., CAPTIVE
PLASTICS, INC., CAPLAS NEPTUNE, LLC, CAPLAS LLC, and GRAFCO INDUSTRIES LIMITED
PARTNERSHIP (each, a “New Subsidiary” and
collectively, the “New
Subsidiaries”).

     

    A. Reference
is made to (i) the Indenture dated as of September 20, 2006 (as amended,
supplemented or otherwise modified from time to time, the “Indenture”) by and
between the Issuer and Wells Fargo Bank, N.A. as Trustee (the “Trustee”) providing
for the issuance of the Issuer’s 8 7/8 % Second Priority Senior Secured Fixed
Rate Notes due 2014 in the aggregate principal amount of $525,000,000 and Second
Priority Senior Secured Floating Rate Notes due 2014 in the aggregate principal
amount of $225,000,000 and (ii) the Purchase Agreement dated as of September 15,
2006 (as amended, restated, supplemented, waived or otherwise modified from time
to time, the “Purchase
Agreement”), among BPC Acquisition Corp., the several parties named in
Schedule I thereto (the “Initial Purchasers”)
and, upon the consummation of the merger on the date of the Collateral
Agreement, the Issuer (formerly BPC Holding Corporation) and the Subsidiary
Parties thereto.

     

    B. Capitalized
terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Indenture and the Collateral Agreement referred to
therein.

     

    C. The
Pledgors have entered into the Collateral Agreement in order to induce the
Trustee to enter into the Indenture and the Initial Purchasers to purchase the
Notes. Section 7.16 of the Collateral Agreement provides that additional
Subsidiaries may become Subsidiary Parties under the Collateral Agreement by
execution and delivery of an instrument in the form of this
Supplement.  Each undersigned New Subsidiary is executing this
Supplement in accordance with the requirements of the Indenture that each become
a Subsidiary Party under the Collateral Agreement as consideration for credit
previously extended to the Issuer.

     

    Accordingly,
the Collateral Agent and the New Subsidiaries agree as follows:

     

    SECTION 1. In
accordance with Section 7.16 of the Collateral Agreement, each New Subsidiary by
its signature below shall become a Subsidiary Party and a Pledgor under the
Collateral Agreement with the same force and effect as if originally named
therein as a Subsidiary Party and a Pledgor, and each New Subsidiary hereby (a)
agrees to all the terms and provisions of the Collateral Agreement applicable to
it as a Subsidiary Party and a Pledgor thereunder and (b) represents and
warrants that the representations and warranties made by it as a Pledgor
thereunder are true and correct, in all material respects, on and as of the date
hereof.  In furtherance of the foregoing, each New Subsidiary, as
security for the payment and performance in full of the Obligations (as defined
in the Collateral Agreement), does hereby create and grant

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SECTION 2. to the
Collateral Agent, for the benefit of the Secured Parties, a security interest in
and Lien on all of each New Subsidiary’s right, title and interest in and to the
Collateral (as defined in the Collateral Agreement) of each New
Subsidiary.  Each reference to a “Subsidiary Party” or a “Pledgor” in
the Collateral Agreement shall be deemed to include each New
Subsidiary.  The Collateral Agreement is hereby incorporated herein by
reference.

     

    SECTION 3. Each New
Subsidiary represents and warrants to the Collateral Agent and the other Secured
Parties that this Supplement has been duly authorized, executed and delivered by
it and constitutes its legal, valid and binding obligation, enforceable against
it in accordance with its terms, subject to (i) the effects of bankruptcy,
insolvency, moratorium, reorganization, fraudulent conveyance or other similar
laws affecting creditors’ rights generally, (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding
in equity or at law) and (iii) implied covenants of good faith and fair
dealing.

     

    SECTION 4. This
Agreement may be executed in two or more counterparts, each of which shall
constitute an original but all of which when taken together shall constitute but
one contract.  This Supplement shall become effective when (a) the
Collateral Agent shall have received a counterpart of this Supplement that bears
the signature of each New Subsidiary and (b) the Collateral Agent has executed a
counterpart hereof.

     

    SECTION 5. Each New
Subsidiary hereby represents and warrants that (a) set forth on Schedule I attached
hereto is a true and correct schedule of the location of any and all Article 9
Collateral of each New Subsidiary as of the date hereof, (b) set forth on Schedule II attached
hereto is a true and correct schedule of all the Pledged Securities of each New
Subsidiary and (c) set forth under its signature hereto is the true and correct
legal name of each New Subsidiary, its jurisdiction of formation and the
location of its chief executive office.

     

    SECTION 6. Except as
expressly supplemented hereby, the Collateral Agreement shall remain in full
force and effect.

     

    SECTION 7. THIS
SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS SUPPLEMENT
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF
NEW YORK.

     

    SECTION 7. In the
event any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining provisions contained herein and in the
Collateral Agreement shall not in any way be affected or impaired
thereby.  The parties shall endeavor in good-faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid,
illegal or unenforceable provisions.

     

    SECTION 8. All
communications and notices hereunder shall be in writing and given as provided
in Section 7.01 of the Collateral Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SECTION 9. Each New
Subsidiary agrees to reimburse the Collateral Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the
reasonable fees, disbursements and other charges of counsel for the Collateral
Agent.

     

    IN
WITNESS WHEREOF, the New Subsidiaries and the Collateral Agent have duly
executed this Supplement to the Collateral Agreement as of the day and year
first above written.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THE
NEW SUBSIDIARIES:

    

    CAPTIVE
HOLDINGS, INC.

    

    

    By: /s/  Jeffrey
Thompson___________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

    

    Legal
Name: Captive Holdings, Inc.

    Jurisdiction
of Formation: Delaware

    Location
of Chief Executive Office:

    251
Circle Drive North,

    Piscataway,
NJ  08854

     

    

     

    CAPTIVE
PLASTICS, INC.

    

    

    By: /s/  Jeffrey
Thompson___________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

    

    Legal
Name: Captive Plastics, Inc.

    Jurisdiction
of Formation: New Jersey

    Location
of Chief Executive Office:

    251
Circle Drive North,

    Piscataway,
NJ  08854

    

    

    CAPLAS
NEPTUNE, LLC

    

    

    By: /s/  Jeffrey
Thompson___________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

    

    Legal
Name: Caplas Neptune, LLC

    Jurisdiction
of Formation: Delaware

    Location
of Chief Executive Office:

    251
Circle Drive North,

    Piscataway,
NJ  08854

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    CAPLAS
LLC

    

    

    By: /s/  Jeffrey
Thompson___________

    Name:
Jeffrey Thompson

    Title:
Authorized Signatory

    

    Legal
Name: Caplas LLC

    Jurisdiction
of Formation: Delaware

    Location
of Chief Executive Office:

    251
Circle Drive North,

    Piscataway,
NJ  08854

    

    

    GRAFCO
INDUSTRIES LIMITED PARTNERSHIP

    

    By:
Caplas Neptune, LLC

           its
General Partner

        By:
/s/  Jeffrey
Thompson___________

        Name:
Jeffrey Thompson

        Title:
Authorized Signatory

    

    Legal
Name: Grafco Industries Limited Partnership

    Jurisdiction
of Formation: Delaware

    Location
of Chief Executive Office:

    251
Circle Drive North,

    Piscataway,
NJ  08854

     

    

     

     

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WELLS
FARGO BANK, N.A., as Collateral Agent

    

    

    By:  /s/  Joseph P.
O’Donnell

    Name:
Joseph P. O’Donnell

    Title:
Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]