Document:

exv4w197

Exhibit 4.197

SIG COMBIBLOC GROUP AG

as Pledgors

and

THE BANK OF NEW YORK MELLON

as Collateral Agent and Pledgee

 

CONFIRMATION AND AMENDMENT AGREEMENT

(Bestätigungs- und Änderungsvertrag)
relating to a share pledge agreement over
shares in SIG Euro Holding AG & Co. KGaA
entered in connection with a USD
1,155,000,000 and EUR 330,000,000
multi-currency term and revolving credit
agreement dated 5 November 2009 and a
senior secured note indenture in respect
of senior secured notes due 2016 in the
aggregate principal amount of USD
1,125,000,000 dated 5 November 2009

 

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 Credit
Document (as defined in Clause 1 of this 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 Credit 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 Credit 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 Credit Document to an Austrian addressee.

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	3	 
	2. Confirmation and Amendments
	 	 	4	 
	3. Continuity and further Assurance
	 	 	7	 
	4. Notice Of Pledge
	 	 	8	 
	5. Partial Invalidity
	 	 	8	 
	6. Amendments
	 	 	8	 
	7. Applicable law; Jurisdiction
	 	 	8	 
	8. Conclusion of the Agreement (Vertragsschluss)
	 	 	9	 
	Schedule 1 List of Current Borrowers, Current Guarantors,
Current Senior Secured Note Guarantors
	 	 	10	 
	Part 1 The Current Borrowers
	 	 	10	 
	Part 2 The Current Guarantors
	 	 	10	 
	Part 3 The Current Senior Secured Note Guarantors
	 	 	13	 
	Schedule 2 Form of Amended Share Pledge Agreement
	 	 	17	 
	Signature Page
	 	 	19	 

- 1 -

 

This CONFIRMATION AND AMENDMENT AGREEMENT (the “Agreement”) is made on 4 May 2010

BETWEEN:

	(1)	 	SIG COMBIBLOC GROUP AG, registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.004.149-2 (the “Pledgor”);
	 
	(2)	 	THE BANK OF NEW YORK MELLON, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America in its capacity as collateral agent for the Secured
Parties (as defined below) under the First Lien Intercreditor Agreement (as defined below)
(the “Collateral Agent” and the “Pledgee”);

WHEREAS:

	(A)	 	Pursuant to a USD 1,155,000,000 and EUR 330,000,000 multi-currency term and revolving credit
agreement dated 5 November 2009 (as amended by an amendment agreement dated 21 January 2010)
between, inter alia, the parties listed in Part 1 of Schedule 1 hereto as current borrowers
(the “Current Borrowers”), the parties listed in Part 2 of Schedule 1 hereto as current
guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Island branch (formerly Credit
Suisse, Cayman Island branch) as administrative agent and others (the “Original Credit
Agreement”), certain lenders (together the “Original Lenders”) have granted certain facilities
to the Current Borrowers and certain other entities which may accede to the Original Credit
Agreement as additional borrowers.

	(B)	 	Pursuant to a senior secured note indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of Schedule
1 as current senior secured note guarantors (the “Current Senior Secured Note Guarantors”) and
The Bank of New York Mellon, as indenture trustee, principal paying agent, transfer agent,
collateral agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Note Indenture”), the Issuers have issued
senior secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount of EUR
450,000,000 (the “Euro Secured Notes” and together with the US Secured Notes the “Senior
Secured Notes”) to certain noteholders.

	(C)	 	Pursuant to the Original Credit Agreement and the Senior Secured Note Indenture the Pledgor
has entered into the Share Pledge Agreement (as defined below). At the date of this Agreement
the Pledgee is in the possession of Existing Share Certificate 1 in Germany.

 - 2 - 

 

	(D)	 	Pursuant to an amendment No. 2 and incremental term loan assumption agreement relating to the
Original Credit Agreement dated on or about the date of this Agreement between, inter alia,
the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Island branch
(formerly Credit Suisse, Cayman Island branch) as administrative agent and others (the
“Amendment No. 2 and Incremental Term Loan Assumption Agreeement”) the Original Credit
Agreement has been amended (the “Amended Credit Agreement”) to, inter alia, increase the
incremental term facilities from an amount of USD 400,000,000 to an amount of USD
1,550,000,000 (of which USD 800,000,000 were committed by certain incremental term lenders),
extend the final maturity of the U.S. term loans made available thereunder to 5 May 2016 and
to adjust the repayment schedule for the U.S. term loans (the “Amendments”).

	(E)	 	It has been agreed in the Share Pledge Agreement (as defined below) that any reference in
such Share Pledge Agreement (as defined below) to the “Credit Agreement” is a reference to the
Original Credit Agreement as amended, varied, novated, supplemented, superseded or extended
from time to time, including pursuant to the Amendment No.2 and Incremental Term Loan
Assumption Agreement.

NOW IT IS HEREBY AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE

	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“Amended Share Pledge Agreement” means the Share Pledge Agreement as amended by this
Agreement.

	 	 	“Share Pledge Agreement” means the share pledge agreement dated 5 November 2009 relating to
the shares of the Pledgor in SIG Euro Holding AG & Co. KGaA and entered into between SIG
Combibloc Group AG as pledgor and The Bank of New York as pledgee.

	1.2	 	Construction

	1.2.1	 	Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall, subject
to any contrary indication, be construed as a reference to a Clause, a sub-Clause or a
Schedule in this Agreement.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.

 - 3 - 

 

	 	 	However, where a German translation of a word or phrase appears in the text of this
Agreement, the German translation of such word or phrase shall prevail.

	1.4	 	This Agreement amends the Share Pledge Agreement on the terms set forth herein, and, for the
purposes of interpretation, is hereby incorporated into the Share Pledge Agreement as of the
date hereof and shall form a part thereof.

	1.5	 	In this Agreement capitalised terms not otherwise defined herein shall have the meaning
attributed thereto (including in the recitals) in the Share Pledge Agreement.

2. CONFIRMATION AND AMENDMENTS

	2.1	 	The Pledgee and the Pledgor hereby agree that

	 	(a)	 	recital (A) of the Share Pledge Agreement shall be amended by replacing it in
its entirety with the following wording:

	 	“(A)	 	 Pursuant to a USD 1,155,000,000 and EUR 330,000,000 multi-currency term and
revolving credit agreement dated 5 November 2009 (as amended by an amendment agreement
dated 21 January 2010 and by the Amendment No. 2 and Incremental Assumption Agreement
(as defined below)) between, inter alia, the parties listed in  Part 1 of Schedule 1
hereto as original borrowers (the “Original Borrowers”), the parties listed in Part 2
of Schedule 1 hereto as original guarantors (the “Original Guarantors”), Credit
Suisse AG, Cayman Island branch (formerly Credit Suisse, Cayman Island branch) Credit
Suisse AG, Cayman Island branch as administrative agent and others (as amended, varied,
novated, supplemented, superseded or extended from time to time, the “Credit
Agreement”), certain lenders (together the “Original Lenders”) have granted certain
facilities to the Original Borrowers and certain other entities which may accede or may
have acceded to the Credit Agreement as additional borrowers.”;

	 	(b)	 	recital (D) of the Share Pledge Agreement shall be replaced by the following
wording:

	 	 	 	“(D) The security created by or pursuant to this Agreement is to be administered by
the Collateral Agent for the Secured Parties (as defined below) pursuant to a first
lien intercreditor agreement dated 5 November 2009 (as amended by the Amendment No.1
and Joinder Agreement (as defined below)) between, inter alia, the Collateral Agent,
Wilmington Trust (London) Limited as additional collateral agent, the Indenture
Trustee, the Administrative Agent and the Grantors (each as defined below) and others
(as amended, varied, novated, supplemented, superseded or extended from time to time,
the “First Lien Intercreditor Agreement”).”;

 - 4 - 

 

	 	(c)	 	Clause 1.1 of the Share Pledge Agreement shall be amended by

	 	(i)	 	inserting the following new definitions at the appropriate place
within the alphabetical order with the following wording:

	 	 	 	““Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21
January 2010 made among (amongst others) the Collateral Agent, Wilmington
Trust (London) Limited as additional collateral agent, Credit Suisse AG and
Reynolds Group Holdings Limited pursuant to which Wilmington Trust (London)
Limited was appointed as additional collateral agent and became party to the
First Lien Intercreditor Agreement.”;

	 	 	 	““Amendment No. 2 and Incremental Assumption Agreement” means the amendment
and incremental assumption agreement dated on or about 4 May 2010 relating to
the Credit Agreement between, inter alia, the Borrowers and the guarantors
under the Credit Agreement as of such date, the Administrative Agent and
others pursuant to which the Credit Agreement is amended to, inter alia,
increase the incremental term facilities from an amount of USD 400,000,000 to
an amount of USD 1,550,000,000 (of which USD 800,000,000 were committed by
certain incremental term lenders), extend the final maturity of the U.S. term
loans made available thereunder to 5 May 2016 and to adjust the repayment
schedule for the U.S. term loans.”;

	 	(ii)	 	replacing the number “400,000,000” with the number
“1,550,000,000” in the definition of “Incremental Assumption Agreement”;

	 	(iii)	 	adding the words “(including any Incremental Revolving Credit
Lender and any Incremental Term Lender)” after the words “in the future” in the
definition of “Lender”;

	 	(iv)	 	adding the words “the Amendment No. 2 and Incremental Assumption
Agreement,” after the first instance of the words “Credit Agreement, “ in the
definition of “Loan Documents”; and

	 	(v)	 	replacing the words “together with all costs” with the words
“including with respect to all costs” in the definition of “Obligations”.

	 	(d)	 	Clause 3.1 of the Share Pledge Agreement shall be amended by adding the
following words to the end of such Clause before the full stop:

	 	 	 	“ by pledging each Share Certificate representing any Shares or rights in relation
thereto to the Pledgee”;

 - 5 - 

 

	 	(e)	 	Clause 3.2.2 of the Share Pledge Agreement shall be replaced by the following
wording:

	 	 	 	“deliver (übergeben) all Share Certificates endorsed in accordance with Clause 3.2.1
above to an authorised representative of the Pledgee in Germany for the purpose of
depositing the Share Certificates with the Pledgee. For the avoidance of doubt, the
Existing Share Certificate 1 is already in the possession of the Pledgee. The Pledgor
shall use all reasonable endeavours (including offering delivery of the relevant
Share Certificate to the Pledgee in Germany within normal business hours) to deliver
any other Share Certificate to the Pledgee in Germany without undue delay upon the
Pledgor becoming the owner of the Shares to which it relates.”;

	 	(f)	 	Clause 3.4 of the Share Pledge Agreement shall be amended by replacing the
words “Collateral Agent” with the words “Pledgee in Germany”:

	 	(g)	 	Clause 3.5 of the Share Pledge Agreement shall be amended by replacing the
words “(also a “Pledge”)” with the words “in favour of the Pledgee”; and

	 	(h)	 	Each instance of the capitalized term “Collateral Agent” in Clause 1 to Clause
19 of the Share Pledge Agreement shall be replaced by the term “Pledgee”.

	2.2	 	The form of the Share Pledge Agreement as amended by this Agreement is set out for
information purposes in Schedule 2 hereto.
	 
	2.3	 	The Pledgee and the Pledgor hereby agree that any reference in the Share Pledge Agreement to
the term “Obligations” shall be read and construed as reference to the Obligations as amended
by this Agreement.
	 
	2.4	 	The Pledgee and the Pledgor hereby agree that the Share Pledge Agreement shall continue to
secure the Obligations as amended by this Agreement.
	 
	2.5	 	The Pledgee and the Pledgor hereby confirm, in respect of the Share Pledge Agreement, that
any reference in the Share Pledge Agreement to the term “Credit Agreement” shall be read and
construed as a reference to the Original Credit Agreement as amended, varied, novated,
supplemented, superseded or extended from time to time, including pursuant to the Amendment
No. 2 and Incremental Assumption Agreement.
	 
	2.6	 	The Pledgee and the Pledgor confirm that the obligations secured under the Share Pledge
Agreement shall include the prompt and complete satisfaction of any and all Obligations (as
defined in the Amended Share Pledge Agreement) (present and future, actual and contingent)
which are (or are expressed to be) or become owing by the Grantors (or any of them) to the
Pledgee under or in connection with the Amended Credit Agreement and the

 - 6 - 

 

	 	 	other Credit Documents (as such term is defined in the Amended Share Pledge Agreement in
accordance with Clause 2.1 above) (including, but not limited to, the Amendments).

	3.	 	CONTINUITY AND FURTHER ASSURANCE

	3.1	 	The Pledgee and the Pledgor confirm and agree that (i) save as amended by this Agreement, all
provisions of the Share Pledge Agreement shall remain unchanged, (ii) the validity and
effectiveness of the provisions of the Share Pledge Agreement shall remain unaffected by this
Agreement, to the extent not amended by this Agreement (iii) the validity and effectiveness of
the security interests created under the Share Pledge Agreement shall not be affected by this
Agreement; and (iv) such security interests shall continue to secure the Obligations (as
defined in the Amended Share Pledge Agreement). For the avoidance of doubt, the provisions in
the Share Pledge Agreement relating to the limitations on enforcement of the Pledges and the
application of proceeds of an enforcement of the Pledges shall not be affected by the
amendments pursuant to this Agreement.
	 
	3.2	 	The Pledgor shall, at the reasonable request of the Pledgee and at the Pledgor’s expense, do
all such acts and things necessary or desirable to give effect to the amendments effected or
to be effected pursuant to this Agreement.
	 
	3.3	 	In the event that German law requires, as a result of the increase of the incremental term
facilities from an amount of USD 400,000,000 to an amount of USD 1,550,000,000 or otherwise,
that new rights of pledge be granted in relation to the Shares (including in relation to the
Existing Share Certificate 1) in order to effectively secure the Obligations (as defined in
the Share Pledge Agreement and as confirmed and amended by this Agreement), the Pledgor and
the Pledgee agree that this Agreement shall be construed as the grant of such new rights of
pledge and the Pledgor hereby pledges to the Pledgee the Shares (as defined in the Share
Pledge Agreement) and any other item referred to in Clause 4 of the Share Pledge Agreement
pursuant to the terms and conditions (as these are confirmed and amended pursuant to this
Agreement) of the Share Pledge Agreement by pledging each Share Certificate representing any
Shares (including the Existing Share Certificate 1) or rights in relation thereto to the
Pledgee and by way of pledging the Pledgor’s rights in the Company (Mitgliedschaftsrechte)
arising from such Shares in accordance with sections 1274, 413, 398 of the German Civil Code
(BGB) in favour of the Pledgee. The Pledgee hereby accepts such pledge in accordance with and
subject to the terms and conditions of the Share Pledge Agreement.
	 
	3.4	 	For the avoidance of doubt the Pledgor shall not be under an obligation under this Agreement
or the Amended Share Pledge Agreement to deliver any Share Certificate to the Pledgee which is
already subject to a plegde in favour of the Pledgee and is in the Pledgee’s possession.

 - 7 - 

 

	3.5	 	The Pledgee and the Pledgor agree that this Agreement shall constitute a “Security Document”
for the purposes of the First Lien Intercreditor Agreement (and for no other purpose) and
that, all rights, duties, privileges, protections and benefits of the Collateral Agent set
forth in the Amended Share Pledge Agreement are hereby incorporated by reference.
	 
	4.	 	NOTICE OF PLEDGE
	 
	4.1	 	The Pledgor and the Pledgee hereby give notice of this Agreement and the pledges pursuant to
Clause 3.3 to SIG Euro Holding AG & Co. KGaA.
	 
	4.2	 	SIG Euro Holding AG & Co. KGaA hereby acknowledges the notification pursuant to Clause 4.1
above.
	 
	5.	 	PARTIAL INVALIDITY

	 	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall, as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such
provisions in any other jurisdiction. The invalid, illegal, or unenforceable provision shall
be deemed replaced with a valid, legal or enforceable provision which comes as close as
possible to the original intent of the parties and the invalid, illegal or unenforceable
provision. Should a gap (Regelungslücke) become evident in this Agreement, such gap shall,
without affecting or impairing the validity, legality and enforceability of the remaining
provisions hereof, be deemed to be filled with such provision as comes as close as possible
to the original intent of the parties.

	6.	 	AMENDMENTS

	 	 	Changes and amendments to this Agreement including this Clause 5 shall be made in writing
except where notarisation is required.

	7.	 	APPLICABLE LAW; JURISDICTION
	 
	7.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	7.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee,
however, shall also be entitled to take action against the respective Pledgor in any other
court of competent jurisdiction. Further, the taking of proceedings against the Assignor in

 - 8 - 

 

	 	 	any one or more jurisdictions shall not preclude the taking of proceedings in any other
jurisdiction (whether concurrently or not) if and to the extent permitted by applicable law.

	8.	 	CONCLUSION OF THE AGREEMENT (VERTRAGSSCHLUSS)

	8.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of signed
signature page(s), transmitted by means of telecommunication (telekommunikative Übermittlung)
by fax or attached as an electronic photocopy (pdf, tif, etc.) to an e-mail.
	 
	8.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
8.1 above, they will transmit the signed signature page(s) of this Agreement to attention
Mr. Philipp Kropatscheck or Ms Corinna May (Philipp.Kropatscheck@cliffordchance.com or
Corinna.May@cliffordchance.com, fax: +49 69 7199 4000) (each a “Recipient”). The Agreement
will be considered concluded once any of the Recipients has actually received the signed
signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement and at
the time of the receipt of the last outstanding signature page(s).
	 
	8.3	 	 For the purposes of this Clause 8 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

 - 9 - 

 

SCHEDULE 1

LIST OF CURRENT BORROWERS, CURRENT GUARANTORS, CURRENT SENIOR SECURED NOTE GUARANTORS

PART 1

THE CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

PART 2

THE CURRENT GUARANTORS

SIG Austria Holding GmbH (Austria)

SIG Combibloc GmbH & Co KG (Austria)

SIG Combibloc GmbH (Austria)

SIG Beverages Brasil Ltda (Brazil)

SIG Combibloc do Brasil Ltda (Brazil)

SIG Holdings (UK) Limited (England and Wales)

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

 - 10 - 

 

 SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Limited (Guernsey)

SIG Combibloc Ltd (Hong Kong)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

Beverage Packaging Holdings (Luxembourg) III S.à r.l. (Luxembourg)

SIG Finance (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

 - 11 - 

 

Closure Systems International Americas Inc. (Brazil)

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International (Hong Kong) Limited (Hong Kong)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

Closure Systems International (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Consumer Products (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

Grupo CSI de Mexico, S. de R.L. de C.V. (Mexico)

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

 - 12 - 

 

Reynolds Consumer Products International B.V. (The Netherlands)

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

PART 3

THE CURRENT SENIOR SECURED NOTE GUARANTORS

SIG Austria Holding GmbH (Austria)

SIG Combibloc GmbH & Co KG (Austria)

SIG Combibloc GmbH (Austria)

SIG Beverages Brasil Ltda (Brazil)

SIG Combibloc do Brasil Ltda (Brazil)

SIG Holdings (UK) Limited (England and Wales)

 - 13 - 

 

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Limited (Guernsey)

SIG Combibloc Ltd (Hong Kong)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

Beverage Packaging Holdings (Luxembourg) III S.à r.l. (Luxembourg)

SIG Finance (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

 - 14 - 

 

 SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

Closure Systems International Americas Inc. (Brazil)

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International (Hong Kong) Limited (Hong Kong)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

Closure Systems International (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Consumer Products (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

 - 15 - 

 

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

Grupo CSI de Mexico, S. de R.L. de C.V. (Mexico)

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

Reynolds Consumer Products International B.V. (The Netherlands)

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

 - 16 - 

 

SCHEDULE 2

FORM OF AMENDED SHARE PLEDGE AGREEMENT

 - 17 - 

 

SIGNATURE PAGE

	 	 	THIS AGREEMENT has been entered into on the date stated at the beginning by:

The Plegor

SIG Combibloc Group AG

	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Chiara Brophy
	 	 	 	 	 	By:
	 	/s/ Pru Wyllie	 	 
	 

	 	 

Name: Chiara Brophy
	 	 	 	 
	 	 
	 	 

Name: Pru Wyllie
	 	 
	 

	 	Title: Attorney
	 	 	 	 	 	
	 	Title: Attorney	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	The Collateral Agent and Pledgee	 	 	 	 	 	 	 	 	 	 
	THE BANK OF NEW YORK MELLON	 	 	 	 	 	 	 	 	 	 
	 
	By:

	 	/s/ Catherine F. Donohue
	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 
	

	 	Name: Catherine F. Donohue
	 	 	 	 	 	 	 	Name:	 	 
	

	 	Title: Vice President
	 	 	 	 	 	 	 	Title:	 	 

Acknowledged and agreed

	 	 	 	 	 
	 	SIG Euro Holding AG & CO. KGaA

acting through its general partner (Komplementär) SIG Reinag AG

 	 
	 	By:  	/s/ Chiara Brophy
 	 
	 	 	Name:  	Chiara Brophy 	 
	 	 	Title:  	Authorised Signatory and Attorney 	 
	 

 - 18 -exv4w198

EXHIBIT 4.198

SIG ASSET HOLDINGS LIMITED

as Pledgor

and

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent

and

OTHERS

 

CONFIRMATION AND AMENDMENT AGREEMENT

(Bestätigungs- und Änderungsvertrag)

relating to an account pledge agreement
entered in connection with a
 USD
1,155,000,000 and EUR 330,000,000
multi-currency term and
 revolving credit
agreement dated 5 November 2009 and  a
senior
 secured note indenture in respect
of senior secured notes due 2016 in
 the
aggregate principal amount of USD
1,125,000,000 dated 5 
November 2009

 

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 Credit
Document (as defined in Clause 1 of this 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 Credit 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 Credit 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 Credit Document to an Austrian addressee.

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	4	 
	2. Confirmation and Amendments
	 	 	4	 
	3. Continuity and further Assurance
	 	 	6	 
	4. Notice of the Account Pledge
	 	 	7	 
	5. Partial Invalidity
	 	 	9	 
	6. Amendments
	 	 	9	 
	7. Applicable law; Jurisdiction
	 	 	9	 
	Schedule 1 List of Financial Institutions
	 	 	10	 
	Schedule 2 List of Current Borrowers, Current Guarantors,
Current Senior Secured Note Guarantors
	 	 	31	 
	Part 1 The Current Borrowers
	 	 	31	 
	Part 2 The Current Guarantors
	 	 	31	 
	Part 3 The Current Senior Secured Note Guarantors
	 	 	34	 
	Schedule 3 Form of Notice
	 	 	38	 
	Part 1 Form of Notice for Existing Bank Accounts
	 	 	38	 
	Part 2 Form of Notice for New Bank Accounts
	 	 	42	 
	Signature Page
	 	 	48	 

- 1 -

 

This CONFIRMATION AND AMENDMENT AGREEMENT (the “Agreement”) is made on 4 May 2010

BETWEEN:

	(1)	 	SIG ASSET HOLDINGS LIMITED, a non-cellular company limited by shares, incorporated in
Guernsey with registered number 28883 and whose registered office is, at the date of this
Agreement at Heritage Hall, Le Marchant Street, St Peter Port, Guernsey GY1 4EL (the
“Pledgor”);
	 
	(2)	 	WILMINGTON TRUST (LONDON) LIMITED, a private limited company whose registered number is
05650152 and whose registered office address as at the date of this Agreement is at Fifth
Floor, 6 Broad Street Place, London EC2M 7JH, United Kingdom, in its capacity as collateral
agent under the First Lien Intercreditor Agreement (as defined below) (the “Collateral
Agent”); and
	 
	(3)	 	the institutions, listed in Schedule 1 (List of financial institutions) hereto in their
capacity as lenders, issuing banks, hedge counterparties, administrative agent, local facility
providers, cash management banks under the Amended Credit Agreement (as defined below) and
indenture trustee under the Senior Secured Note Indenture (as defined below);

the parties named in (2) and (3) are hereinafter referred to as the “Current Pledgees”.

WHEREAS:

	(A)	 	Pursuant to a USD 1,155,000,000 and EUR 330,000,000 multi-currency term and revolving credit
agreement dated 5 November 2009 (as amended by an amendment agreement dated 21 January 2010)
between, inter alia, the parties listed in Part 1 of Schedule 2 hereto as current borrowers
(the “Current Borrowers”), the parties listed in Part 2 of 0Schedule 2 hereto as current
guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Island branch (formerly Credit
Suisse, Cayman Island branch) as administrative agent and others (the “Original Credit
Agreement”), certain lenders (together the “Original Lenders”) have granted certain facilities
to the Current Borrowers and certain other entities which may accede to the Original Credit
Agreement as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured note indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of Schedule
2 as current senior secured note guarantors (the “Current Senior Secured Note Guarantors”) and
The Bank of New York Mellon, as indenture trustee, principal paying agent, transfer agent,
collateral agent and registrar, (as amended, varied, novated,

- 2 -

 

	 	 	supplemented, superseded or extended from time to time, the “Senior Secured Note
Indenture”), the Issuers have issued senior secured notes due 2016 in the aggregate
principal amount of USD 1,125,000,000 (the “US Secured Notes”) and senior secured notes due
2016 in the aggregate principal amount of EUR 450,000,000 (the “Euro Secured Notes” and
together with the US Secured Notes the “Senior Secured Notes”) to certain noteholders.

	(C)	 	Pursuant to the Original Credit Agreement and the Senior Secured Note Indenture the Pledgor
has entered into the Account Pledge Agreement (as defined below).
	 
	(D)	 	Pursuant to an amendment No. 2 and incremental term loan assumption agreement relating to the
Original Credit Agreement dated on or about the date of this Agreement between, inter alia,
the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Island branch
(formerly Credit Suisse, Cayman Island branch) as administrative agent and others (the
“Amendment No. 2 and Incremental Term Loan Assumption Agreement”) the Original Credit
Agreement has been amended (the “Amended Credit Agreement”) to, inter alia, increase the
incremental term facilities from an amount of USD 400,000,000 to an amount of USD
1,550,000,000 (of which USD 800,000,000 were committed by certain incremental term lenders),
extend the final maturity of the U.S. term loans made available thereunder to 5 May 2016 and
to adjust the repayment schedule for the U.S. term loans (the “Amendments”).
	 
	(E)	 	It has been agreed in the Account Pledge Agreement (as defined below) that any reference in
such Account Pledge Agreement (as defined below) to the “Credit Agreement” is a reference to
the Original Credit Agreement as amended, varied, novated, supplemented, superseded or
extended from time to time, including pursuant to the Amendment No.2 and Incremental Term Loan
Assumption Agreement.
	 
	(F)	 	By executing the First Lien Intercreditor Agreement or an assignment and acceptance or
additional bank secured party acknowledgement relating to the Original Credit Agreement
Agreement each of the parties set out in Schedule 1 hereto has ratified and confirmed the
declarations of the Collateral Agent made pursuant to clause 2.3 of the Account Pledge
Agreement (as defined below). The Pledgor and the Current Pledgees confirm that thereby the
parties listed in Schedule 1 hereto have become Pledgees (as defined in the relevant Account
Pledge Agreement) under the Account Pledge Agreement (as defined below).

NOW IT IS HEREBY AGREED as follows:

- 3 -

 

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Amended Security Agreement” means the Account Pledge Agreement as amended by this
Agreement.
	 
	 	 	“Account Pledge Agreement” means the account pledge agreement dated 3 February 2010 entered
into between SIG Asset Holdings Limited as pledgor Wilmington Trust (London) Limited as
Collateral Agent and as pledgee and others as pledgees.

	1.2	 	Construction
	 
	1.2.1	 	Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall, subject
to any contrary indication, be construed as a reference to a Clause, a sub-Clause or a
Schedule in this Agreement.
	 
	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	1.4	 	This Agreement amends the Account Pledge Agreement on the terms set forth herein, and, for
the purposes of interpretation, is hereby incorporated into the Account Pledge Agreement as of
the date hereof and shall form a part thereof.
	 
	1.5	 	In this Agreement capitalised terms not otherwise defined herein shall have the meaning
attributed thereto (including in the recitals) in the Account Pledge Agreement.
	 
	2.	 	CONFIRMATION AND AMENDMENTS
	 
	2.1	 	The Collateral Agent, the other Current Pledgees and the Pledgor hereby agree that

	 	(a)	 	recital (A) of the Account Pledge Agreement shall be amended by replacing it in
its entirety with the following wording:
	 
	 	 	 	“(A) Pursuant to a USD 1,155,000,000 and EUR 330,000,000 multi-currency term and
revolving credit agreement dated 5 November 2009 (as amended by an amendment
agreement dated 21 January 2010 and by the Amendment No. 2 and Incremental Assumption
Agreement (as defined below)) between, inter alia, the parties listed in  Part 1 of
Schedule 2 hereto as current borrowers (the “Current

- 4 -

 

	 	 	 	Borrowers”), the parties listed in Part 2 of Schedule 2 hereto as current
guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Island branch
(formerly Credit Suisse, Cayman Island branch) Credit Suisse AG, Cayman Island branch
as administrative agent and others (as amended, varied, novated, supplemented,
superseded or extended from time to time, the “Credit Agreement”), certain lenders
(together the “Current Lenders”) have granted certain facilities to the Current
Borrowers and certain other entities which may accede or may have acceded to the
Credit Agreement as additional borrowers.”

	 	(b)	 	Clause 1.1 of the Account Pledge Agreement shall be amended by

	 	(i)	 	inserting the following new definitions at the appropriate place
within the alphabetical order with the following wording:
	 
	 	 	 	““Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21
January 2010 made among (amongst others) the Collateral Agent, The Bank of
New York Mellon, Credit Suisse AG and Reynolds Group Holdings Limited
pursuant to which the Collateral Agent was appointed as additional collateral
agent and became a party to the First Lien Intercreditor Agreement.”; and
	 
	 	 	 	““Amendment No. 2 and Incremental Assumption Agreement” means the amendment
and incremental assumption agreement dated on or about 4 May 2010 relating to
the Credit Agreement between, inter alia, the Borrowers and the guarantors
under the Credit Agreement as of such date, the Administrative Agent and
others pursuant to which the Credit Agreement is amended to, inter alia,
increase the incremental term facilities from an amount of USD 400,000,000 to
an amount of USD 1,550,000,000 (of which USD 800,000,000 were committed by
certain incremental term lenders), extend the final maturity of the U.S. term
loans made available thereunder to 5 May 2016 and to adjust the repayment
schedule for the U.S. term loans.”;

	 	(ii)	 	replacing the number “400,000,000” with the number
“1,550,000,000” in the definition of “Incremental Assumption Agreement” in each
Account Pledge Agreement;
	 
	 	(iii)	 	adding the words “(including any Incremental Revolving Credit
Lender and any Incremental Term Lender)” after the words “in the future” in the
definition of “Lender” in each Account Pledge Agreement;

- 5 -

 

	 	(iv)	 	adding the words “the Amendment No. 2 and Incremental Assumption
Agreement,” after the first instance of the words “Credit Agreement, “ in the
definition of “Loan Documents” in each Account Pledge Agreement; and
	 
	 	(v)	 	replacing the words “together with all costs” with the words
“including with respect to all costs” in the definition of “Obligations” in the
Account Pledge Agreement.

	2.2	 	The Collateral Agent, the other Current Pledgees and the Pledgor hereby agree that any
reference in the Account Pledge Agreement to the term “Obligations” shall be read and
construed as reference to the Obligations as amended by this Agreement.
	 
	2.3	 	The Collateral Agent, the other Current Pledgees and the Pledgor hereby agree that the
Account Pledge Agreement shall continue to secure the Obligations as amended by this
Agreement.
	 
	2.4	 	The Collateral Agent, the other Current Pledgees and the Pledgor hereby confirm, in respect
of the Account Pledge Agreement, that any reference therein to the term “Credit Agreement”
shall be read and construed as a reference to the Original Credit Agreement as amended,
varied, novated, supplemented, superseded or extended from time to time, including pursuant to
the Amendment No.2 and Incremental Assumption Agreement.
	 
	2.5	 	The Collateral Agent, the other Current Pledgees and the Pledgor confirm that the obligations
secured under the Account Pledge Agreement shall include the prompt and complete satisfaction
of any and all Obligations (as defined in the Amended Security Agreement) (present and future,
actual and contingent) which are (or are expressed to be) or become owing by the Grantors (or
any of them) to the Secured Parties (or any of them) under or in connection with the Amended
Credit Agreement and the other Credit Documents (as such term is defined in the Amended
Security Agreement in accordance with Clause 2.1 above) (including, but not limited to, the
Amendments).
	 
	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	The Collateral Agent, the other Current Pledgees and the Pledgor confirm and agree that (i)
save as amended by this Agreement, all provisions of the Account Pledge Agreement shall remain
unchanged, (ii) the validity and effectiveness of the provisions of the Account Pledge
Agreement shall remain unaffected by this Agreement, to the extent not amended by this
Agreement (iii) the validity and effectiveness of the security interests created under the
Account Pledge Agreement shall not be affected by this Agreement; and (iv) such security
interests shall continue to secure the Obligations (as defined in the Amended Security
Agreement).

- 6 -

 

	3.2	 	The Pledgor shall, at the reasonable request of the Collateral Agent and at the Pledgor’s
expense, do all such acts and things necessary or desirable to give effect to the amendments
effected or to be effected pursuant to this Agreement.
	 
	3.3	 	In the event that German law requires, as a result of the increase of the incremental term
facilities from an amount of USD 400,000,000 to an amount of USD 1,550,000,000 or otherwise,
that new rights of pledge be granted in relation to the Accounts (as defined in the Account
Pledge Agreement) in order to effectively secure the Obligations (as defined in the Account
Pledge Agreement and as confirmed and amended by this Agreement), the Pledgor and the Current
Pledgees agree that this Agreement shall be construed as the grant of such new rights of
pledge and the Pledgor hereby pledges to each of the Current Pledgees and the Future Pledgees
(as defined in the Account Pledge Agreement) the Accounts (as defined in the Account Pledge
Agreement) pursuant to the terms and conditions (as these are confirmed and amended pursuant
to this Agreement) of the Account Pledge Agreement to which it is a party and each Current
Pledgee hereby accepts such pledge for itself in accordance with and subject to the terms and
conditions of the Account Pledge Agreement and, in the case of the Collateral Agent, also as
representative without power of attorney (Vertreter ohne Vertretungsmacht) for and on behalf
of each Future Pledgee (as defined in the Account Pledge Agreement) in accordance with clause
2.3 thereof.
	 
	3.4	 	The Collateral Agent, the other Current Pledgees and the Pledgor agree that this Agreement
shall constitute a “Security Document” for the purposes of the First Lien Intercreditor
Agreement (and for no other purpose) and that each of the rights, privileges, immunities,
indemnities, protections and benefits of the Collateral Agent set forth in the Amended
Security Agreement are hereby incorporated by reference.
	 
	4.	 	NOTICE OF THE ACCOUNT PLEDGE
	 
	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but not
later than within twenty business days after the date of this Agreement, and, in relation to
any Account (as defined in the Account Pledge Agreement) opened after the date of this
Agreement, within ten business days after such new Account has been opened, notify each
Account Bank (as defined in the Account Pledge Agreement) and any other relevant third party
of the pledges by delivering a notification (i) substantially in the form set out in Part 1 of
Schedule 3 (Form of Notice for Existing Bank Accounts) in case of Accounts existing at the
date of this Agreement and (ii) substantially in the form set out in Part 2 of Schedule 3
(Form of Notice for New Bank Accounts) for any Account (as defined in the Account Pledge
Agreement) opened after the date of this Agreement, in each case by registered mail
(Einschreiben mit Rückschein). The Pledgor shall provide the Collateral Agent with a copy of
each such notification and of the corresponding return receipt (Rückschein). In addition,

- 7 -

 

	 	 	the Pledgor shall use all reasonable efforts to procure that each Account Bank (as defined
in the Account Pledge Agreement) promptly acknowledges receipt of the respective
notification, and acceptance of the terms thereof, to the Collateral Agent (acting for and
on behalf of the Pledgees (as defined in the Account Pledge Agreement)) and to the Pledgor.

	 	 	For the avoidance of doubt, Schedule 3 (Form of Notice of Pledge) of the Account Pledge
Agreement is hereby replaced by the Part 1 of Schedule 3 (Form of Notice for Existing Bank
Accounts) and Part 2 of Schedule 3 (Form of Notice for New Bank Accounts) of this Agreement.

	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 the Pledgor hereby
authorises the Collateral Agent and releases it for this purpose from the restrictions of
self-dealing under Section 181 of the German Civil Code to notify each Account Bank (as
defined in the Account Pledge Agreement) and any other relevant third party on its behalf of
this Agreement and the pledges constituted hereunder by delivering a notification
substantially in the forms set out in Schedule 3 (Form of Notice of Pledge), or in such
substantially similar form as the Collateral Agent (acting for and on behalf of the Pledgees
(as defined in the Account Pledge Agreement)) deems appropriate, provided that the Collateral
Agent may only make use of this authorisation if the Pledgor has not complied with the
obligations imposed on the Pledgor in Clause 4.1 within 10 business days of being notified of
such failure (with a copy of such notice being sent to Reynolds Group Holdings Limited) and
being requested to comply or if an Enforcement Event (as defined in the Account Pledge
Agreement) has occurred and is continuing.
	 
	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause 4.1
above whilst an Enforcement Event (as defined in the Account Pledge Agreement) is not
continuing if the Pledgor can prove to the Collateral Agent (acting on behalf of the Pledgees
(as defined in the Account Pledge Agreement)) that notifying the relevant Account Bank of the
pledges created hereunder would not be consistent with, whilst an Enforcement Event (as
defined in the Account Pledge Agreement) is not continuing, the Pledgor retaining control over
and the ability to freely use the balance of any such Account (as defined in the Account
Pledge Agreement). The Collateral Agent will take instructions in accordance with the First
Lien Intercreditor Agreement (as defined in the Account Pledge Agreement) whether or not to
agree with the Pledgor’s analysis. For the avoidance of doubt, at the date of this Agreement
the Pledgor agrees in relation to itself that notifying the Account Banks (as defined in the
Account Pledge Agreement) of the pledges created hereunder is not inconsistent with the
Pledgor retaining control over and the ability to freely use the balance of any Account (as
defined in the relevant Account Pledge Agreement) existing at the date of this Agreement.

- 8 -

 

	5.	 	PARTIAL INVALIDITY
	 
	 	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall, as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such
provisions in any other jurisdiction. The invalid, illegal, or unenforceable provision shall
be deemed replaced with a valid, legal or enforceable provision which comes as close as
possible to the original intent of the parties and the invalid, illegal or unenforceable
provision. Should a gap (Regelungslücke) become evident in this Agreement, such gap shall,
without affecting or impairing the validity, legality and enforceability of the remaining
provisions hereof, be deemed to be filled with such provision as comes as close as possible
to the original intent of the parties.

	6.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 6 shall be made in writing
except where notarisation is required.

	7.	 	APPLICABLE LAW; JURISDICTION
	 
	7.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	7.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Collateral Agent
and the Pledgees (as defined in the Account Pledge Agreement), however, shall also be entitled
to take action against the Pledgor in any other court of competent jurisdiction. Further, the
taking of proceedings against the Pledgor in any one or more jurisdictions shall not preclude
the taking of proceedings in any other jurisdiction (whether concurrently or not) if and to
the extent permitted by applicable law.

- 9 -

 

SCHEDULE 1

LIST OF FINANCIAL INSTITUTIONS

1776 CLO I, Ltd.

280 Funding I

ABS Loans 2007 Limited

ACE Tempest Life Reinsurance Limited

ACE Tempest Reinsurance Ltd.

Adfam Investment Company LLC

AIG Bank Loan Fund Ltd.

AIM Floating Rate Fund

Alpstar CLO I Public Ltd.

Altenberg Funding

American Hallmark Insurance Co of TX

AMMC CLO IV, Limited

AMMC CLO V, Limited

AMMC VII, Limited

Anchorage Crossover Credit Finance, Ltd.

Apostle Loomis Sayles Credit Opportunities Fund

Apostle Loomis Sayles Senior Loan Fund

Ares Enhanced Credit Opportunities Fund Ltd.

Ares Enhanced Loan Investment Strategy II, Ltd.

Ares Enhanced Loan Investment Strategy III, Ltd.

Ares Enhanced Loan Investment Strategy IR Ltd.

- 10 -

 

Ares European CLO II B.V.

Ares IIIR/IVR CLO Ltd.

Ares IIR CLO Ltd.

Ares Institutional Loan Fund B.V.

Ares Strategic Investment Partners Europe B.V.

Ares VIR CLO Ltd.

Ares VR CLO Ltd.

Ares X CLO Ltd.

Ares XI CLO Ltd.

Ares XII CLO Ltd.

Ariel Reinsurance Company Ltd.

Atrium III

Atrium IV

Australia and New Zealand Banking Group Limited

Avalon Capital Ltd. 3

Avoca CLO III PLC

Avoca CLO IX Ltd.

Babson Capital Loan Partners I LP

Babson CLO Ltd. 2004-I

Babson CLO Ltd. 2004-II

Babson CLO Ltd. 2005-I

Babson CLO Ltd. 2005-III

Babson CLO Ltd. 2006-I

- 11 -

 

Babson CLO Ltd. 2006-II

Babson CLO Ltd. 2007-I

Babson CLO Ltd. 2008-II

Babson Loan Opportunity CLO, Ltd.

Banco Nacional De Mexico, S.A., Integrante Del Grupo Financiero Banamex

Bank of America, N.A., Canada Branch

The Bank of new York Mellon

Barclays Bank PLC

Battalion CLO 2007-I, Ltd.

Beach Point Loan Master Fund, LP

Belhurst CLO Ltd.

Bell Atlantic Master Trust

Bill & Melinda Gates Foundation

BlackRock Debt Strategies Fund, Inc.

BlackRock Defined Opportunity Credit Trust

BlackRock Diversified Income Strategies Fund II, Inc.

BlackRock Diversified Income Strategies Fund, Inc.

BlackRock Floating Rate Income Strategies Fund II, Inc.

BlackRock Floating Rate Income Trust

BlackRock Floating Rate Income Trust

BlackRock Global Investment Series: Income Strategies Portfolio

BlackRock Senior Floating Rate Portfolio

BlackRock Senior High Income Fund, Inc.

- 12 -

 

BlackRock Senior Income Series

BlackRock Senior Income Series II

BlackRock Senior Income Series IV

BlackRock Senior Income Series V Limited

Blackstone Special Funding (Ireland)

BLT 18 LLC

BLT 2009 -1 Ltd.

Blue Shield of California

Bluebay COF Loan Investments S.A.

Bluebay High Income Loan Investments (Luxembourg) S.A.

Board of Pensions of the Evangelical Lutheran Church in America

Boeing Co. Employees Retirement Plans Master Trust

BOS International (Australia) Ltd.

Brentwood CLO, Ltd.

Bridgeport CLO II Ltd.

Bridgeport CLO Ltd.

Brigade Credit Fund II, Ltd.

Brown University

California Public Employees’ Retirement System

Carlyle Credit Partners Financing I

Carlyle High Yield Partners IX, Ltd.

Carlyle High Yield Partners VI Ltd.

Carlyle High Yield Partners VII Ltd.

- 13 -

 

Carlyle High Yield Partners VIII, Ltd.

Carlyle High Yield Partners X, Ltd.

Castle Garden Funding

Cent CDO 10 Limited

Cent CDO 12 Limited

Cent CDO 14 Limited

Cent CDO 15 Limited

Cent CDO XI Limited

Centaurus Loan Trust

Centurion CDO 8 Limited

Centurion CDO 9 Limited

Centurion CDO VII Limited

CFS Global Corporate Debt Fund

Champlain CLO, Ltd.

Champlain CLO, Ltd.

Chatham Light II CLO, Limited

Chelsea Park CLO Ltd.

Cheyne Credit Opportunities CDO 1 B.V.

CHGO Loan Funding Ltd.

CIM VI, L.L.C.

Citibank (China) Co., Ltd.

Citibank, N.A.

Citron Investment Corporation

- 14 -

 

Clear Lake CLO Ltd.

Clydesdale CLO 2004, Ltd.

Clydesdale CLO 2005, Ltd.

Clydesdale Strategic CLO I, Ltd.

College Retirement Equities Fund Bond Market Account

Columbus Park CDO Ltd.

ColumbusNova CLO IV, Ltd. 2007 II

Commingled Pension Trust Fund (High Yield) of JPMorgan Chase Bank, N.A.

Commonwealth International Fixed Interest Fund 6

Commonwealth of Pennsylvania State Employees’ Retirement System

Confluent 2 Limited

Cooperatieve Centrale Raiffeisen Boerenleenbank B.A.

Cratos CLO I Ltd.

Credit Suisse International

Credit Suisse Loan Funding LLC

Credit Suisse Syndicated Loan Fund

Credos Floating Rate Fund, L.P.

CSAM Funding I

CSAM Funding II

CSAM Funding IV

Cumberland II CLO Ltd.

Delaware Corporate Bond Fund, a series of Delaware Group Income Funds

Delaware Diversified Income Trust

- 15 -

 

Delaware Extended Duration Bond Fund, a series of Delaware Group Income Funds

Delaware Group Advisor Funds-Delaware Diversified Income

Delaware Group Government Funds — Delaware Core Plus Fund

Delaware Group Income Funds — Delaware Diversified Floating Rate Fund

Delaware Group Limited-Term Government Funds — Delaware Limited — Term Government Fund

Delaware VIP Trust — Delaware VIP Diversified Income Series

Delaware VIP Trust — Delaware VIP Limited Term Diversified Income Series

Deutsche Bank AG New York Branch

DFR Middle Market CLO

Diamond Lake CLO, Ltd.

Diversified Credit Portfolio Ltd.

Doral Money Inc

Dryden IX — Senior Loan Fund 2005 p.l.c.

Dryden VIII — Leveraged Loan CDO 2005

Dryden X — Euro CLO 2005 PLC

Dryden XI Leveraged Loan CDO 2006

Dryden XIV — Euro CLO 2006 p.l.c.

Dryden XV Euro CLO 2006 p.l.c.

Dryden XVI — Leveraged Loan CDO 2006

Dryden XXI Leveraged Loan CDO LLC

DWS Floating Rate Plus Fund

DWS Short Duration Plus Fund

DZ Bank AG Deutsche Zentralgenossenschaftsbank

- 16 -

 

Eaton Vance CDO X PLC

Eaton Vance Floating-Rate Income Trust

Eaton Vance Institutional Senior Loan Fund

Eaton Vance Medallion Floating-Rate Income Portfolio

Eaton Vance Senior Floating-Rate Trust

Eaton Vance Senior Income Trust

Eaton Vance VT Floating Rate Income Fund

Employers Insurance Company of Wausau

Fairway Loan Funding Company

Faraker Investment PTE Ltd.

FIA Card Services, N.A.

Fidelity Advisor Series I: Fidelity Advisor Floating Rate High Income Fund

Fifth Third Bank

FIRST 2004-II CLO Ltd.

First Trust/Four Corners Senior Floating Rate Income Fund

First Trust/Four Corners Senior Floating Rate Income Fund II

Flagship CLO V

Flagship CLO VI

Foothill CLO I Ltd.

Fore CLO Ltd.. 2007-1

Fortis Flexi III Senior Secured Bank Loan Fund Mogliano

Franklin CLO V, Ltd.

Franklin CLO VI, Limited

- 17 -

 

Franklin Floating Rate Daily Access Fund

Franklin Floating Rate Master Series

Franklin Templeton Lim. Duration Income Trust

Franklin Templeton Series II Funds — Franklin Floating Rate II Fund

Future Fund Board of Guardians

Galaxy V CLO, Ltd.

Galaxy VI CLO, Ltd.

Galaxy VII CLO, Ltd.

Galaxy VIII CLO, Ltd.

GE Capital Commercial Inc.

General Electric Pension Trust

Gillespie CLO PLC

Global Credit Return Fund NV

Global Loan Opportunity Fund B.V.

GMAM Group Pension Trust I

Golden Knight II CLO, Ltd.

Goldentree Asset Management LP AC Goldentree High Yield Master Fund Ltd. AC

Goldentree Capital Opportunities, LP

Goldentree Loan Opportunities III, Limited

Goldentree Loan Opportunities IV, Limited

Goldentree Loan Opportunities V, Limited

Goldman Sachs Asset Management CLO, Public Limited Company

Goldman Sachs Collective Trust High Yield Implementation Vehicle

- 18 -

 

Grand Central Asset Trust, ANC Series

Grand Central Asset Trust, Cameron I Series

Grayson & Co

Green Park CDO B.V.

Greenbriar CLO, Ltd.

GSO Co-Investment Partners, LLC

GSO Domestic Capital Funding LLC

GSO Royal Holdings CB LLC

Halcyon Loan Investors CLO I, Ltd.

Halcyon Loan Investors CLO II, Ltd.

Halcyon Structure Asset Management European CLO 2006-II B.V.

Halcyon Structured Asset Management CLO I Ltd.

Halcyon Structured Asset Management European CLO 2006-I B.V.

Halcyon Structured Asset Management European Long Secured/Short Unsecured CLO 2008 I B.V.

Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-1 Ltd.

Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-2 Ltd.

Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-3 Ltd.

Halcyon Structured Asset Management Long Secured/Short Unsecured CLO 2006-I Ltd.

Harvest CLO II S.A.

Harvest CLO III PLC

Harvest CLO IV PLC

Harvest CLO V PLC

Highlander Euro CDO B.V.

- 19 -

 

Highlander Euro CDO III B.V.

Hillmark Funding Ltd.

Hiscox Insurance Company (Bermuda) Ltd

Hiscox Syndicate 33

Hudson Canyon Funding II, Ltd.

Hudson Canyon Funding II, Ltd.

Hyde Park CDO B.V.

IAM National Pension Fund

Illinois State Board of Investment

ING International (II) — Senior Bank Loans Euro

ING International (II) — Senior Bank Loans Euro

ING Investment Management CLO I, Ltd.

ING Investment Management CLO II, Ltd.

ING Investment Management CLO III, Ltd.

ING Investment Management CLO IV, Ltd.

ING Investment Management CLO V, Ltd.

ING Investment Trust Co. Plan for Employee Benefit Investment Funds — Senior Loan Fund

ING Investors Trust — Ing T. Rowe Price Capital Appreciation Portfolio

ING Prime Rate Trust

ING Senior Income Fund

Insight Investment Discretionary Funds ICVC UK Corporate All Maturities Bond Fund

Insight LDI Solutions plus PLC in respect of The Insight Loan

J.P. Morgan Leveraged Loans Master Fund L.P.

- 20 -

 

Jersey Street CLO, Ltd.

JHF II-Multi Sector Bond Fund

John Hancock Fund II Floating Rate Income Fund

John Hancock Funds II — Spectrum Income Fund

John Hancock Trust — Capital Appreciation Value Trust

John Hancock Trust — Spectrum Income Trust

JPMorgan Chase Retirement Plan

JPMorgan Core Plus Bond

JPMorgan High Yield Fund

Koniginstrasse I S.à r.l

Laurelin B.V.

Laurelin II B.V.

LeverageSource V, S.À R.L

Liberty Mutual Fire Insurance Company

Liberty Mutual Insurance Company

Libra Global Limited

LightPoint Pan-European CLO 2007-1 PLC

Limerock CLO I

Limerock CLO I

LLCP Loan Funding 2007

Loan Funding III (Delaware) LLC

Loan Funding IV LLC

Longhorn Credit Funding, LLC

- 21 -

 

Loomis Sayles Leveraged Senior Loan Fund Ltd.

Loomis Sayles Senior Loan Fund, LLC

Lord Abbett Investment Trust — Lord Abbett Floating Rate Fund

Lucent Technologies Inc. Master Pension Trust

MacKay Shields Core Plus Alpha Fund

MacKay Short Duration Alpha Fund

Macquarie Income Opportunities Fund

Macquarie Master Diversified Fixed Interest Fund

Madison Park Funding I, Ltd.

Madison Park Funding VI, Ltd.

Mainstay Floating Rate Fund, a series of Eclipse Funds Inc.

Mainstay VP Floating Rate Portfolio, aseries of Mainstay VP Series Fund, Inc.

Marathon CLO I Ltd.

Marathon CLO II Ltd.

Market Square CLO, Ltd.

Marlborough Street CLO, Ltd.

Master Senior Floating Rate Trust

Maxim Putnam High Yield Bond Portfolio of Maxim Putnam SeriesMaxim Putnam

Mayport CLO Ltd.

Meadows Foundation Incorporated

Mercator CLO 2 PLC

Mercator CLO I PLC

Mercator CLO III Limited

- 22 -

 

Met Investors Series Trust — Pioneer Strategic Income Portfolio

MetLife Bank, N.A.

Metropolitan Life Insurance Company

Missouri State Employees Retirement System

Mizuho Corporate Bank, Ltd.

Momentum Capital Fund, Ltd.

Morgan Stanley Investment Management Garda B.V.

Morgan Stanley Investment Management, Croton Ltd.

Morgan Stanley Prime Income Trust

MSIM Peconic Bay Ltd.

Mt. Wilson CLO II, Ltd.

Mt. Wilson CLO Ltd.

Muzinich & Co (Ireland) Limited for the account of Extrayield $ Loan Fund

NACM CLO I

Nantucket CLO I Ltd.

Nash Point CLO

Natixis COF I, LLC

Natixis Loomis Sayles Senior Loan Fund

Nautique Funding Ltd.

Nautique Funding Ltd.

Navigare Funding I CLO Ltd.

Navigare Funding II CLO, Ltd.

Navigare Funding III CLO, Ltd.

- 23 -

 

Navigator CDO 2005, Ltd.

Navigator CDO 2006, Ltd.

NCM GT 2008-1 LLC

NCRAM Loan Trust

NCRAM Senior Loan Trust 2005

Neptune Finance CCS, Ltd.

New York Life Insurance & Annuity Corp.

New York Life Insurance (Guaranteed Products)

New York Life Insurance Company, GP-Portable Alpha

Nexum Loan SICAV — Nordic Loan Fund II

Nexum Loans SICAV

Nomura Bond & Loan Fund

North Dakota State Investment Board

Northwoods Capital IV Limited

Northwoods Capital V, Limited

Northwoods Capital VI, Limited

Northwoods Capital VII, Limited

Northwoods Capital VIII Limited

Nuveen Diversified Dividend & Income Fund

Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Opportunity Fund

Nuveen Senior Income Fund

Nuveen Tax Advantaged Total Return Strategy Fund

- 24 -

 

Oak Hill Credit Opportunities Financing, Ltd.

Oak Hill Credit Partners III, Limited

Oak Hill Credit Partners IV, Limited

Oak Hill Credit Partners V, Limited

Oak Hill European Credit Partners I PLC

Oak Hill European Credit Partners II PLC

OCA Brigade Credit Fund, LLC

Ocean Trails CLO I

Ocean Trails CLO II

OHA Finlandia Credit Fund

OHA Park Avenue CLO I, Ltd.

Olympic Park Ltd.

Oppenheimer Master Loan Fund, LLC

Oppenheimer Senior Floating Rate Fund

Oppida Investments Ltd.

Optimum Trust — Optimum Fixed Income Fund

Oregon Public Employees Retirement Fund

Pacific Life Insurance Company

Penn Series Funds, Inc. — Flexibility Managed Fund

Phoenix Edge Series Fund: Phoenix Multi-Sector Short Term Bond Series

Phoneix Edge Series Fund: Phoenix Strategic Allocation Series

PIMCO Cayman Bank Loan Fund

PIMCO Loan Opportunities Fund I L.P.

- 25 -

 

PIMCO Loan Opportunities Fund I LP

Pioneer Diversified High Income Trust

Pioneer Floating Rate Fund

Pioneer Floating Rate Trust

Pioneer Global High Yield Fund

Pioneer High Yield Fund

Pioneer Strategic Income Fund

Pioneer Strategic Income VCT Portfolio

Portola CLO, Ltd.

PPM Monarch Bay Funding LLC

Principal Funds Inc — High Yield Fund I

Prudential Bank Loan Fund of the Prudential Trust Company Collective Trust

Putnam Floating Rate Income Fund

Putnam High Yield Advantage Fund

Putnam High Yield Trust

Putnam Variable Trust — PVT High Yield Fund

Qualcomm Global Trading, Inc.

Race Point III CLO

Race Point IV CLO, Ltd.

Red River CLO Ltd.

Regent’s Park CDO B.V.

Republic Loan Funding, Ltd.

Ridgeworth Funds — SEIX Floating Rate High Income Fund

- 26 -

 

Riverside Park CLO Ltd.

RiverSource Bond Series, Inc — Riversource Floating Rate Fund

RiverSource Institutional Leveraged Loan Fund II, L.P.

RiverSource Strategic Income Allocation Fund

RMF Euro CDO III PLC

RMF Euro CDO IV PLC

Rochdale Fixed Income Opportunities Portfolio

RS Floating Rate Fund

RS Strategic Income Fund

San Joaquin County Employees’ Retirement Association

Sapphire Valley CDO I, Ltd.

Saratoga CLO I Limited

Saratoga CLO I, Limited

Schiller Park CLO Ltd.

Sears Holdings Pension Plan

SEI Institutional Investment Trust — High Yield Bond Fund

SEI Institutional Investments Trust Enhanced Libor Opportunities Fund.

SEI Institutional Managed Trust — High Yield Bond Fund

Senior Debt Portfolio

Senior Loan Portfolio

Serves 2006-1, Ltd.

Southport CLO, Limited

SSS Funding II, LLC

- 27 -

 

St. James Park CDO B.V.

St. James River CLO Ltd.

State Retirement and Pension System of Maryland

Stellar Performer Global Series W — Global Credit

Stichting Depositary APG Fixed Income Credit Pool

Stichting Pensioenfonds Medische Specialisten

Stichting Pensioenfonds Voor Huisarten

Stone Harbor Global Funds PLC — Stone Harbor Leveraged Loan Portfolio

Stone Harbor LIBOR Plus Total Return Fund

Stone Harbor Sterling Core Plus Bond Fund

Stone Tower Credit Funding I Ltd.

Stoney Lane Funding I, Ltd.

Sumitomo Mitsui Banking Corp

Summit Lake CLO Ltd.

Sun Life Assurance Company of Canada (US)

SunAmerica Senior Floating Rate Fund, Inc.

Sunsuper Pooled Superannuation Trust

T. Rowe Price Capital Appreciation Fund

T. Rowe Price Institutional Common Trust Fund — T Rowe Price Capital Appreciation Trust

T. Rowe Price Institutional Floating Rate Fund

T. Rowe Price Institutional High Yield Fund

Tavitian Foundation, Inc.

TCW Credit Opportunities Fund I B, L.P.

- 28 -

 

TCW Credit Opportunities Fund, L.P.

TCW Senior Secured Floating Rate Loan Fund, L.P.

TCW Senior Secured Loan Fund, L.P.

Teachers Insurance and Annuity Association of America

Teachers Retirement System of Louisiana (Shenkman — BANK LOAN ACCOUNT)

Texas PrePaid Higher Education Tuition Board

TFP Royal Issuer, LLC

The Guardian Life Insurance Company of America

The President and Trustees of Williams College

TIAA-CREF Funds Bond Plus Fund

Titanium Trading Partners, LLC

Tribeca Park CLO Ltd.

Trustees of the University of Pennsylvania

Trustmark Insurance Company

U.A.I. (Luxembourg) Investment S.à r.l.

UBS (UK) Pension and Life Assurance Scheme

UMC Benefit Board, Inc.

United America Idemnity, Ltd.

Van Kampen Dynamic Credit Opportunities Fund

Van Kampen Senior Income Trust

Van Kampen Senior Loan Fund

Velocity CLO Ltd.

Vermont Pension Investment Committee

- 29 -

 

Veronica Atkins Marital Trust

Victoria Falls CLO, Ltd.

Virginia Retirement System

Virtus Multi-Sector Fixed Income Fund

Virtus Mult-Sector Short Term Bond Fund

Virtus Senior Floating Rate Fund

Vitesse CLO Ltd.

Wasatch CLO Ltd.

Waterfront CLO 2007-1, Ltd.

Wellington Trust Company, National Association Multiple Common Trust Funds Trust Opportunistic
Fixed Income Allocation Portfolio

West Bend Mutual Insurance Company

Western Asset Floating Rate High Income Fund, LLC

Westpac Banking Corp

WG Horizons CLO I

Whitehorse III, Ltd.

Wilmington Trust (London) Limited

Wind River Reinsurance Company, Ltd.

Windmill CLO I Limited

Zodiac Fund Morgan Stanley US Senior Loan Fund

- 30 -

 

SCHEDULE 2

LIST OF CURRENT BORROWERS, CURRENT GUARANTORS, CURRENT SENIOR SECURED NOTE GUARANTORS

PART 1

THE CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

PART 2

THE CURRENT GUARANTORS

SIG Austria Holding GmbH (Austria)

SIG Combibloc GmbH & Co KG (Austria)

SIG Combibloc GmbH (Austria)

SIG Beverages Brasil Ltda (Brazil)

SIG Combibloc do Brasil Ltda (Brazil)

Closure Systems International Americas Inc. (Brazil)

SIG Holdings (UK) Limited (England and Wales)

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

- 31 -

 

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Limited (Guernsey)

SIG Combibloc Ltd (Hong Kong)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

Beverage Packaging Holdings (Luxembourg) III S.à r.l. (Luxembourg)

SIG Finance (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

- 32 -

 

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International (Hong Kong) Limited (Hong Kong)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

Closure Systems International (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Consumer Products (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

Grupo CSI de Mexico, S. de R.L. de C.V. (Mexico)

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

Reynolds Consumer Products International B.V. (The Netherlands)

- 33 -

 

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

PART 3

THE CURRENT SENIOR SECURED NOTE GUARANTORS

SIG Austria Holding GmbH (Austria)

SIG Combibloc GmbH & Co KG (Austria)

SIG Combibloc GmbH (Austria)

SIG Beverages Brasil Ltda (Brazil)

SIG Combibloc do Brasil Ltda (Brazil)

SIG Holdings (UK) Limited (England and Wales)

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

- 34 -

 

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Limited (Guernsey)

SIG Combibloc Ltd (Hong Kong)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

Beverage Packaging Holdings (Luxembourg) III S.à r.l. (Luxembourg)

SIG Finance (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

- 35 -

 

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

Closure Systems International Americas Inc. (Brazil)

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International (Hong Kong) Limited (Hong Kong)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

Closure Systems International (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Consumer Products (Luxembourg) S.à r.l. (Luxembourg)

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

- 36 -

 

Grupo CSI de Mexico, S. de R.L. de C.V. (Mexico)

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

Reynolds Consumer Products International B.V. (The Netherlands)

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

- 37 -

 

SCHEDULE 3

FORM OF NOTICE

PART 1

FORM OF NOTICE FOR EXISTING BANK ACCOUNTS

[Letterhead of Pledgor]

	 	 	 

	     Absender/From: [Pledgor]
	 	 
	 
	 	 
	     An/To: [Account Bank]
	 	 
	 
	 	 
	     Datum/Date: [•]
	 	 
	 
	 	 
	     Verpfändungsanzeige

	 	      Notice of Pledge
	 
	 	 
	     Betrifft: Konto Nr. [•]

	 	     Re: Account No. [•]
	 
	 	 
	     Sehr geehrte Damen und Herren,

	 	      Dear Sirs,
	 
	 	 
	wie Ihnen bekannt ist, haben wir gemäß eines
Kontenverpfändungsvertrags vom [•] (der “
Kontenverpfändungsvertrag”) alle Ansprüche
einschließlich Zinsen aus den bei Ihnen
geführten Konten (inklusive aller Unterkonten,
etwaigen Neueröffnungen, Verlängerungen,
Umbenennungen und Festgeldkonten davon) zu
Gunsten [Collateral Agent]
(“Sicherheitentreuhänder”) und anderen (zusammen
die “Pfandgläubiger”) verpfändet. Die
Verpfändung umfasst alle Arten von Kontoguthaben
sowie alle daraus zeitanteilig anfallenden
Zinsen. Eine Kopie des Erstrangigen
Kontenverpfändungsvertrages hatten wir unserem
Schreiben beigefügt.

	 	As you are aware, by an
account pledge agreement
dated [•] (the “Account
Pledge Agreement”) we have
pledged in favour of
[Collateral Agent] (the
“Collateral Agent”) and
others all of our right,
title and interest in and to
the above account (which
shall include all
sub-accounts, renewals,
replacements, redesignations
and related fixed deposit
accounts thereof) and all
monies and interest from time
to time standing or accruing
to the credit thereof. A copy
of the Account Pledge
Agreement was attached
thereto.
	 
	 	 
	Hiermit teilen wir Ihnen mit, dass durch einen
Bestätigungs- und Ergänzungsvertrag zum
Kontenverpfändungsvertrag vom                      2010
(der “Bestätigungs- und Ergänzungsvertrag”) der

	 	We hereby give you notice
that pursuant to a
confirmation and amendment
agreement relating to the
Account Pledge Agreement
dated [•] 2010 (the
“Confirmation and Amendment
Agreement”), the Account

- 38 -

 

	 	 	 

	Kontenverpfändungsvertrag dahingehend bestätigt
und ergänzt wurde, dass, unter anderem, auch die
Erhöhung bestehender Kreditlinien umfasst wird,
die bereits durch den Kontenverpfändungsvertrag
besichert sind. Eine Kopie des Bestätigungs- und
Ergänzungsvertrags ist diesem Schreiben
beigefügt.

	 	Pledge Agreement has been
confirmed and amended to the
effect that, inter alia, it
also secures the increase of
existing facilities which are
already secured by the
Account Pledge Agreement. A
copy of the Confirmation and
Amendment Agreement is
attached hereto.
	 
	 	 
	Solange Sie als kontoführende Bank keine
gegenteilige Nachricht vom
Sicherheitentreuhänder erhalten, sind
wir ermächtigt, über die Konten und
insbesondere die Kontenguthaben zu verfügen. Im
Fall des Erhalts einer entsprechenden Nachricht
sind Sie als kontoführende Bank gehalten,
keinerlei Verfügungen unsererseits über die
Konten und die Kontenguthaben mehr
zuzulassen.

	 	Until notice to the contrary
from the Collateral Agent to
be served on you as account
bank, we may continue to
operate the Accounts and in
particular may dispose over
the amounts standing to the
credit thereof. Upon receipt
of such aforesaid notice to
the contrary, you as account
bank shall not allow any
dispositions by us of the
Accounts and of the amounts
standing to the credit
thereof.
	 
	 	 
	Wir verzichten hiermit in Bezug auf alle bei
Ihnen geführten Konten zu Gunsten der
Pfandgläubiger auf unser Recht auf
Vertraulichkeit (Bankgeheimnis) und beauftragen
und ermächtigen Sie hiermit, nachdem Sie die o.g
Nachricht vom Sicherheitentreuhänder
erhalten haben, dem
Sicherheitentreuhänder auf sein
Verlangen jede gewünschte Information im
Hinblick auf solche Konten zu geben.

	 	We herewith waive all rights
of confidentiality
(Bankgeheimnis) in relation
to all accounts held with you
for the benefit of the
Pledgees. If you have
received the above notice
from the Collateral Agent we
hereby instruct and authorise
you to provide the Collateral
Agent with any information
requested by it in respect of
such accounts.
	 
	 	 
	Diese Verpfändungsanzeige unterliegt deutschem
Recht.

	 	This notice of pledge shall
be construed in accordance
with German law.
	 
	 	 
	In Zweifelsfällen gilt die deutsche Fassung
dieser Verpfändungsanzeige.

	 	In cases of doubt the German
version of this notice of
pledge shall prevail.
	 
	 	 
	Wir bitten Sie, die dieser Verpfändungsanzeige
beigefügte Empfangsbestätigung als Zeichen Ihres
Einverständnisses mit den hierin und in der
Empfangsbestätigung genannten Bestimmungen
unterzeichnet sowohl an uns als auch an den

	 	Please sign the enclosed
Acknowledgement of Notice of
Pledge in order to
acknowledge receipt of this
notice and your agreement to
the terms set out herein and
in the enclosed
Acknowledgement and return
the same to us

- 39 -

 

	 	 	 

	 
	 	 
	Sicherheitentreuhänder (für die
Pfandgläubiger) zu senden. Die
Adresse des Sicherheitentreuhänders
ist die folgende:

	 	and to the Collateral Agent
(for and on behalf of the
Pledgees). The address of
the Collateral Agent is the
following:

[name and address of Collateral Agent].

	 	 	 

	Mit freundlichen Grüßen

	 	Yours faithfully

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 40 -

 

[Letterhead of Account Bank]

	 	 	 

	     Absender/From: [Account Bank]
	 	 
	 
	 	 
	     An/ To:              [Collateral

	 	Agent]
	          und/and
	 	 
	          [Pledgor]
	 	 
	 
	 	 
	     Datum/ Date: [•]
	 	 
	 
	 	 
	Bestätigung des Empfangs einer Verpfändungsanzeige
	 	Acknowledgement of Notice of Pledge

	 
	 	 
	     Betrifft: Konto Nr. [•]

	 	      Re: Account No. [•]
	 
	 	 
	     Sehr geehrte Damen und Herren,

	 	     Dear Sirs,
	 
	 	 
	Wir bestätigen hiermit den Erhalt der
Verpfändungsanzeige vom [Datum] sowie der Kopie des
Kontoverpfändungsvertrags vom [•] und unser
Einverständnis mit den darin enthaltenen
Bestimmungen.

	 	We hereby acknowledge receipt
of the notice of pledge dated
[date] and of a copy of the
account pledge agreement
dated [•] and confirm our
agreement with the terms set
out therein.
	 
	 	 
	Wir versichern, dass wir keine Verpfändungsanzeige
bzgl. der verpfändeten Konten erhalten haben außer
der Verpfändungsanzeige zu Ihren Gunsten vom [•] und
uns mit Ausnahme unseres AGB-Pfandrechts keine
Rechte Dritter an den verpfändeten Konten bekannt
sind.

	 	We confirm that we have
neither received any previous
notice of pledge relating to
the pledged accounts (other
than the notice of the pledge
for your benefit dated [•]
nor are we aware of any third
party rights in relation to
the accounts except for the
right of pledge arising
pursuant to our general
business conditions.
	 
	 	 
	Wir verpflichten uns hiermit, sowohl im eigenen
Namen als auch für unsere jeweiligen
Rechtsnachfolger, die in der obengenannten
Verpfändungsanzeige enthaltenen Bestimmungen und
Anweisungen zu befolgen.

	 	We hereby confirm on behalf
of ourselves and our legal
successors in title that we
will act in accordance with
the terms and instructions
set out in the notice of
pledge referred to above.
	 
	 	 
	Wir verzichten hiermit unwiderruflich und
bedingungslos auf jegliche Aufrechnungs- und
Zurückbehaltungsrechte bzgl. der Konten, wobei es
unser Verständnis ist, dass Saldierungen bei

	 	We hereby irrevocably and
unconditionally waive our
rights in respect of and
agree not to make any set-off
from the Accounts or invoke
any rights of retention in
relation to

- 41 -

 

	 	 	 

	Kontokorrentkonten weiterhin vorgenommen und
Kontoführungsgebühren und retournierte
Schecks den Konten weiterhin ohne
Einschränkung belastet werden dürfen.

	 	the Accounts; it being
understood that the
balancing of current
accounts shall be permitted
and that account-keeping
fees and returned cheques
may furthermore be debited
without restriction.
	 
	 	 
	Des Weiteren erklären wir hiermit, dass wir
das aufgrund unserer Allgemeinen
Geschäftsbedingungen an den Konten
bestehende Pfandrecht aufgeben.

	 	We hereby release the pledge
granted in our favour in
respect of the Accounts
pursuant to our General
Business Conditions.
	 
	 	 
	Dieses Schreiben unterliegt deutschem Recht.

	 	This letter shall be
construed in accordance with
German law.
	 
	 	 
	In Zweifelsfällen gilt die deutsche Fassung
dieses Schreibens.

	 	In cases of doubt the German
version of this letter shall
prevail.
	 
	 	 
	Mit freundlichen Grüßen

	 	Yours faithfully
	 
	 	 
	[Account Bank]
 

([Name des Unterzeichners/name of signatory])
	 	 

PART 2

FORM OF NOTICE FOR NEW BANK ACCOUNTS

[Letterhead of Pledgor]

	 	 	 
	     Absender/From: [Pledgor]
	 	 
	 
	 	 
	     An/To: [Account Bank]
	 	 
	 
	 	 
	     Datum/Date: [•]
	 	 
	 
	 	 
	     Verpfändungsanzeige

	 	     Notice of Pledge
	 
	 	 
	     Betrifft: Konto Nr. [•]

	 	      Re: Account No. [•]

- 42 -

 

	 	 	 

	Sehr geehrte Damen und Herren,

	 	Dear Sirs,
	 
	 	 
	Hiermit zeigen wir Ihnen an, dass wir
gemäß Ziffer 2.1 des hier in Kopie
beigefügten Kontenverpfändungsvertrags
vom [•] (der
“Kontenverpfändungsvertrag”),
sowie gemäß Ziffer 3.3.1 des hier in
Kopie beigefügten Bestätigungs- und
Änderungsvertrags zum
Kontenverpfändungsvertrag vom [•] alle
Rechte und Ansprüche bezüglich des o.
g. Kontos und aller sonstigen bei
Ihnen geführten Konten (die
“Konten”) (inklusive aller
Unterkonten, etwaiger Neueröffnungen,
Verlängerungen, Umbenennung und
Festgeldkonten) zu Gunsten von
[Collateral Agent] (der
“Sicherheitentreuhänder”) und
anderen (zusammen die
“Pfandgläubiger”) verpfändet
haben.

	 	We hereby give you notice
that pursuant to Clause
2.1 of an account pledge
agreement dated [•] (the
“Account Pledge
Agreement”), a copy of
which is attached hereto
and pursuant to Clause
3.3.1 of a confirmation
and amendment agreement
relating to the Account
Pledge Agreement, we have
pledged in favour of
[Collateral Agent] (the
“Collateral Agent”) and
others (together the
“Pledgees”) all of our
rights and claims in
respect of the above
account and all other
accounts maintained with
you from time to time (the
“Accounts”) (including all
sub-accounts thereof,
renewals, replacements,
redesignations and related
fixed deposit accounts
thereof).
	 
	 	 
	Die Verpfändung umfasst insbesondere
alle Ansprüche auf gegenwärtige und
zukünftige Guthaben (einschließlich
Spareinlagen, Termineinlagen,
Festgeldeinlagen und
Tagesgeldeinlagen) und positive Salden
sowie alle darauf anfallenden Zinsen.

	 	The pledges comprise in
particular all claims to
present and future cash
deposits (including saving
deposits, time deposits,
fixed deposits and call
money deposits) and credit
balances and all claims to
interest payable in
relation thereto.
	 
	 	 
	Solange Sie als kontoführende Bank
keine gegenteilige Nachricht vom
Sicherheitentreuhänder
erhalten, sind wir ermächtigt, über
die Konten und insbesondere
die Kontenguthaben zu verfügen. Im
Fall des Erhalts einer entsprechenden
Nachricht sind Sie als kontoführende
Bank gehalten, keinerlei Verfügungen
unsererseits über die Konten
und die Kontenguthaben mehr

	 	Until notice to the
contrary from the
Collateral Agent to be
served on you as account
bank, we may continue to
operate the Accounts and
in particular may dispose
over the amounts standing
to the credit thereof.
Upon receipt of such
aforesaid notice to the
contrary, you as account
bank shall not allow any
dispositions by us of the
Accounts and of the
amounts standing to the

- 43 -

 

	 	 	 

	zuzulassen.

	 	credit thereof.
	 
	 	 
	Wir verzichten hiermit in bezug
auf alle bei Ihnen geführten
Konten zu Gunsten der
Pfandgläubiger auf unser
Recht auf Vertraulichkeit
(Bankgeheimnis) und beauftragen
und ermächtigen Sie hiermit,
nachdem Sie die o.g Nachricht vom
Sicherheitentreuhänder
erhalten haben, dem
Sicherheitentreuhänder
auf sein Verlangen jede gewünschte
Information im Hinblick auf solche
Konten zu geben.

	 	We herewith waive all
rights of confidentiality
(Bankgeheimnis) in relation
to all accounts held with
you for the benefit of the
Pledgees. If you have
received the above notice
from the Collateral Agent
we hereby instruct and
authorise you to provide
the Collateral Agent with
any information requested
by it in respect of such
accounts.
	 
	 	 
	Diese Verpfändungsanzeige
unterliegt deutschem Recht.

	 	This notice of pledge shall
be construed in accordance
with German law.
	 
	 	 
	In Zweifelsfällen gilt die
deutsche Fassung dieser
Verpfändungsanzeige.

	 	In cases of doubt the
German version of this
notice of pledge shall
prevail.
	 
	 	 
	Wir bitten Sie, die dieser
Verpfändungsanzeige beigefügte
Empfangsbestätigung als Zeichen
Ihres Einverständnisses mit den
hierin und in der
Empfangsbestätigung genannten
Bestimmungen unterzeichnet sowohl
an uns als auch an den
Sicherheitentreuhänder
(für die Pfandgläubiger)
zu senden. Die Adresse des
Sicherheitentreuhänders
ist die folgende:

	 	Please sign the enclosed
Acknowledgement of Notice
of Pledge in order to
acknowledge receipt of this
notice and your agreement
to the terms set out herein
and in the enclosed
Acknowledgement and return
the same to us and to the
Collateral Agent (for and
on behalf of the Pledgees).
The address of the
Collateral Agent is the
following:
	 
	 	 

[name and address of Collateral Agent].

	 	 	 

	Mit freundlichen Grüßen

	 	Yours faithfully

- 44 -

 

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 45 -

 

[Letterhead of Account Bank]

	 	 	 

	     Absender/From: [Account Bank]
	 	 
	 
	 	 
	     An/ To: [Collateral Agent]
	 	 
	und/and
	 	 
	[Pledgor]
	 	 
	 
	 	 
	     Datum/ Date: [•]
	 	 
	 
	 	 
	Bestätigung des Empfangs einer 

Verpfändungsanzeige

	 	Acknowledgement of Notice of
Pledge
	 
	 	 
	Betrifft: Konto Nr. [•]

	 	Re: Account No. [•]
	 
	 	 
	Sehr geehrte Damen und Herren,

	 	Dear Sirs,
	 
	 	 
	Wir bestätigen hiermit den Erhalt der
Verpfändungsanzeige vom [Datum] sowie der
Kopie des Kontoverpfändungsvertrags vom
[•] und unser Einverständnis mit den
darin enthaltenen Bestimmungen.

	 	We hereby acknowledge receipt
of the notice of pledge dated
[date] and of a copy of the
account pledge agreement
dated [•] and confirm our
agreement with the terms set
out therein.
	 
	 	 
	Wir versichern, dass wir keine
Verpfändungsanzeige bzgl. der
verpfändeten Konten erhalten haben und
uns mit Ausnahme unseres AGB-Pfandrechts
keine Rechte Dritter an den verpfändeten
Konten bekannt sind.

	 	We confirm that we have
neither received any previous
notice of pledge relating to
the pledged accounts nor are
we aware of any third party
rights in relation to the
accounts except for the right
of pledge arising pursuant to
our general business
conditions.
	 
	 	 
	Wir verpflichten uns hiermit, sowohl im
eigenen Namen als auch für unsere
jeweiligen Rechtsnachfolger, die in der
obengenannten Verpfändungsanzeige
enthaltenen Bestimmungen und Anweisungen
zu befolgen.

	 	We hereby confirm on behalf
of ourselves and our legal
successors in title that we
will act in accordance with
the terms and instructions
set out in the notice of
pledge referred to above.
	 
	 	 
	Wir verzichten hiermit unwiderruflich und
bedingungslos auf jegliche Aufrechnungs-
und Zurückbehaltungsrechte bzgl. der
Konten, wobei es unser Verständnis ist,
dass Saldierungen bei Kontokorrentkonten

	 	We hereby irrevocably and
unconditionally waive our
rights in respect of and
agree not to make any set-off
from the Accounts or invoke
any rights of retention in
relation to

- 46 -

 

	 	 	 

	weiterhin vorgenommen und
Kontoführungsgebühren und
retournierte Schecks den
Konten weiterhin ohne
Einschränkung belastet
werden dürfen.

	 	the Accounts; it being
understood that the balancing of
current accounts shall be
permitted and that
account-keeping fees and
returned cheques may furthermore
be debited without restriction.
	 
	 	 
	Des Weiteren erklären wir
hiermit, dass wir das
aufgrund unserer Allgemeinen
Geschäftsbedingungen an den
Konten bestehende Pfandrecht
aufgeben.

	 	We hereby release the pledge
granted in our favour in respect
of the Accounts pursuant to our
General Business Conditions.
	 
	 	 
	Dieses Schreiben unterliegt
deutschem Recht.

	 	This letter shall be construed
in accordance with German law.
	 
	 	 
	In Zweifelsfällen gilt die
deutsche Fassung dieses
Schreibens.

	 	In cases of doubt the German
version of this letter shall
prevail.
	 
	 	 
	Mit freundlichen Grüßen

	 	Yours faithfully

[Account Bank]

([Name des Unterzeichners/name of signatory])

- 47 -

 

SIGNATURE PAGE

THIS AGREEMENT has been entered into on the date stated at the beginning by:

The Plegor

SIG Asset Holdings Limited

	 	 	 	 	 	 	 	 
	 
	By: 	 /s/ Chiara Brophy	 	By: 	          /s/ Pru Wyllie
	 	Name: 	 Chiara Brophy	 	 	Name: 	 Pru Wyllie
	 	Title:	 Authorised Signatory	 	 	Title:	 Authorised Signatory

The Collateral Agent

Wilmington Trust (London) Limited

On its own behalf and on behalf of the parties listed in Schedule 1 hereto under a power of
attorney

	 	 	 	 	 	 	 	 

	 
	By: 	 /s/ Elaine Lockhart	 	By: 	 
	 	Name: 	 Elaine Lockhart	 	 	Name: 	 
	 	Title:	 Relationship Manager	 	 	Title:	 
	 	\	 	 	 	 

- 48 -

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"}]]