Document:

exv4w116

EXHIBIT 4.116

The taking of this document or any certified copy of it or any document
which constitutes substitute documentation for it, or any document which
includes written confirmations or references to it, into Austria as well as
printing out any e-mail communication which refers to any Loan Document in
Austria or sending any e-mail communication to which a pdf scan of this
document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any
Loan Document to an Austrian addressee may cause the imposition of Austrian
stamp duty. Accordingly, keep the original document as well as all certified
copies thereof and written and signed references to it outside of Austria and
avoid printing out any email communication which refers to any Loan Document in
Austria or sending any e-mail communication to which a pdf scan of this
document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any
Loan Document to an Austrian addressee.

DATED 2 DECEMBER 2009

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L.

AS COMPANY

IN FAVOUR OF

THE BANK OF NEW YORK MELLON

AS THE COLLATERAL AGENT

 

SECURITY ASSIGNMENT OF CONTRACTUAL RIGHTS

UNDER A SPECIFIC CONTRACT

 

 

 

CONTENTS

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions And Interpretation
	 	 	1	 
	2. Covenant To Pay
	 	 	4	 
	3. Assignment
	 	 	4	 
	4. Deliverables
	 	 	5	 
	5. Representation
	 	 	5	 
	6. Further Advances
	 	 	5	 
	7. Company’s Undertakings
	 	 	5	 
	8. Further Assurance
	 	 	6	 
	9. Power Of Attorney
	 	 	7	 
	10. Security Enforcement
	 	 	8	 
	11. Receivers
	 	 	10	 
	12. Effectiveness Of Collateral
	 	 	12	 
	13. Indemnity
	 	 	14	 
	14. Application Of Proceeds
	 	 	15	 
	15. Other Security Interests
	 	 	15	 
	16. Suspense Accounts
	 	 	16	 
	17. Currency Indemnity
	 	 	16	 
	18. Assignment
	 	 	17	 
	19. Disclosure
	 	 	17	 
	20. Waivers And Counterparts
	 	 	17	 
	21. Law
	 	 	17	 
	22. Enforcement
	 	 	18	 
	Schedule 1 Form Of Notice Of Assignment
	 	 	19	 

- 1 -

 

THIS AGREEMENT is made by way of deed on 2 December 2009

BETWEEN:

	(1)	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L. a société à responsabilité limitée
incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at
6C Parc d’Activités Syrdall, L-5365 Munsbach, Grand-Duchy of Luxembourg registered with the
Luxembourg Register of Commerce and Companies under number B128.135 (the “Company”); and

	(2)	 	THE BANK OF NEW YORK MELLON in its capacity as collateral agent as appointed under the First
Lien Intercreditor Agreement for the Secured Parties (the “Collateral Agent”).

RECITALS:

	(A)	 	Further to the Credit Agreement (as defined below) certain lenders and financial institutions
have made available to the borrowers therein certain facilities (the “Facilities”) on the
terms set out in the Credit Agreement.

	(B)	 	Further to the Senior Secured Note Indenture (as defined below), the Issuers (as defined
below) have issued certain notes (the “Notes”).

	(C)	 	The Company intends to provide security in respect of the Facilities and the Notes.

	(D)	 	The Company may, from time to time, make advances to the Borrowers (as defined below).

	(E)	 	It is intended by the parties to this Agreement that this document will take effect as a deed
despite the fact that a party may only execute this Agreement under hand.

	(F)	 	The Collateral Agent is acting under and holds the benefit of the rights conferred upon it in
this Agreement on trust for the Secured Parties.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION

	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“Additional Agreement” has the meaning given to that term in the First Lien
Intercreditor Agreement.

	 	 	“Agreed Security Principles” has the meaning it is given in the Credit Agreement and the
Senior Secured Note Indenture and to the extent of any inconsistency the meaning it is given
in the Credit Agreement shall prevail.

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	 	 	“Applicable Representative” has the meaning given to that term in the First Lien
Intercreditor Agreement.

	 	 	“Assigned Property” means the rights and property expressed to be assigned in Clause 3
(Assignment).

	 	 	“Borrowers” means, for Contract 1, Closure Systems International B.V. and, for Contract
2, SIG Euro Holding AG & Co. KGaA.

	 	 	“Collateral Rights” means all rights, powers and remedies of the Collateral Agent
provided by or pursuant to this Agreement or by law.

	 	 	“Contract 1” means the €124,603,648.83 intercompany loan dated 5 November 2009 between
the Company as lender and Closure Systems International B.V. as borrower.

	 	 	“Contract 2” means the €239,665,296.90 intercompany loan dated 5 November 2009 between the
Company as lender and SIG Euro Holding AG & Co. KGaA as borrower.

	 	 	“Contracts” means Contract 1 and Contract 2.

	 	 	“Credit Agreement” means the Credit Agreement dated 5 November 2009 among Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KGaA,
Closure Systems International Holdings Inc., Closure Systems International B.V. and SIG
Austria Holding GmbH as borrowers, Reynolds Group Holdings Limited, the lenders from time to
time party thereto and Credit Suisse AG (formerly known as Credit Suisse), as administrative
agent, as amended, extended, restructured, renewed, novated, supplemented, restated,
refunded, replaced or modified from time to time.

	 	 	“Delegate” means a delegate or sub-delegate appointed pursuant to Clause 11.8 (Delegation)
of this Agreement.

	 	 	“Enforcement Event” means an “Event of Default” under, and as defined in, the First
Lien Intercreditor Agreement.

	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated
5 November 2009 among the Collateral Agent, The Bank of New York Mellon, as trustee under
the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse), as
administrative agent under the Credit Agreement, and the Loan Parties, as amended, novated,
supplemented, restated or modified from time to time.

	 	 	“Group” means Reynolds Group Holdings Limited and each of its subsidiaries from time to
time.

	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent and the Collateral Agent as an
intercreditor agreement, in each case as amended, novated, supplemented, restated, replaced
or modified from time to time.

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	 	 	“Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note
Indenture, including their successors in interest.

	 	 	“Lien” has the meaning given to such term in the First Lien Intercreditor Agreement.

	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.

	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien
Intercreditor Agreement.

	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank
Group Holdings Limited).

	 	 	“Notice of Assignment” means a notice of assignment substantially in the form of
Schedule 1 (Form of Notice of Assignment).

	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note
Indenture, the Intercreditor Arrangements and any Additional Agreement.

	 	 	“Receiver” means a receiver or receiver and manager or, where permitted by law, an
administrative receiver of the whole or any part of the Assigned Property and that term will
include any appointee made under a joint and/or several appointment.

	 	 	“Secured Liabilities” means all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each Loan Party and each grantor of a security interest to the Secured
Parties (or any of them) under each or any of the Loan Documents (including, for the
avoidance of doubt, any liability in respect of any further advances made under the Loan
Documents or resulting from an amendment or an increase of the principal amount of the
Facilities), together with all costs, charges and expenses incurred by any Secured Party in
connection with the protection, preservation or enforcement of its respective rights under
the Loan Documents or any other document evidencing or securing any such liabilities.

	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement.

	 	 	“Security Documents” means the “Security Documents” under, and as defined in, the First
Lien Intercreditor Agreement.

	 	 	“Senior Secured Note Indenture” means the Indenture dated 5 November 2009, among the
Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from
time to time.

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	1.2	 	Terms defined in First Lien Intercreditor Agreement

	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in the
First Lien Intercreditor Agreement has the same meaning in this Agreement or any notice
given under or in connection with this Agreement.

	1.3	 	Construction

	 	(a)	 	The rules of interpretation contained in the First Lien Intercreditor Agreement
will apply as if incorporated in this Agreement or in any notice given under or in
connection with this Agreement.

	 	(b)	 	Any reference to the “Collateral Agent”, the “Company” or the “Secured Parties”
shall be construed so as to include its or their (and any subsequent) successors and
any permitted transferees in accordance with their respective interests.

	 	(c)	 	This Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

	1.4	 	Third Party Rights

	 	 	A person who is not a party to this Agreement has no right under the Contracts (Rights of
Third Parties) Act 1999 to enforce or to enjoy any benefit of any term of this Agreement.

	2.	 	COVENANT TO PAY

	 	 	The Company covenants with the Collateral Agent that it shall discharge its obligations in
respect of the Secured Liabilities on their due date in accordance with their respective
terms.

	3.	 	ASSIGNMENT

	3.1	 	Assignment

	 	 	The Company assigns absolutely and with full title guarantee to the Collateral Agent as
security for the payment and discharge of the Secured Liabilities all of its rights, title
and interest, present and future, in, under and to the Contracts including, without
limitation, all present and future claims, causes of action, payments and proceeds in
respect thereof.

	3.2	 	Collateral Agent Assumes No Obligations

	 	 	The Collateral Agent shall not be under any obligation in relation to the Assigned Property
or the Contracts as a consequence of this Agreement and the Company shall at all times
remain liable to perform all obligations expressed to be assumed by it in respect of the
Assigned Property and the Contracts.

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	3.3	 	Release

	 	 	The security constituted by this Agreement shall be released, reassigned and cancelled:

	 	(a)	 	by the Collateral Agent (acting on the instructions of the Applicable
Representative) at the request and cost of the Company, upon the Secured Liabilities
being irrevocably paid or discharged in full and none of the Secured Parties being
under any further actual or contingent obligation to make advances or provide other
financial accommodation to the Company or any other person under any of the Loan
Documents; or

	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor
Arrangements (to the extent it is possible to give effect to such arrangements under
English law).

	4.	 	DELIVERABLES

	 	 	The Company shall deliver or cause to be delivered to the Collateral Agent on the date
hereof of a Notice of Assignment in respect of the Contracts duly executed by or on behalf
of the Company and acknowledged by the relevant Borrower.

	5.	 	REPRESENTATION

	 	 	The Company represents that it has not registered any “establishments” (as that term is
defined in Part 1 of the Overseas Companies Regulations 2009) with the Registrar of
Companies in England and Wales or, if it has so registered, it has provided to the
Collateral Agent sufficient details to enable an accurate search against it to be undertaken
by the Secured Parties at the Companies Registry.

6. FURTHER ADVANCES

	 	(a)	 	Subject to the terms of the Loan Documents, each Lender (as defined in the
Credit Agreement) is under an obligation to make further Loans (as defined in the
Credit Agreement) to the Loan Parties and that obligation shall be deemed to be
incorporated into this Agreement as if set out in this Agreement.

	 	(b)	 	Subject to the terms of the Loan Documents, each Issuer may issue further Notes
(as defined in the Senior Secured Notes Indenture) to the Loan Parties and that
obligation will be deemed to be incorporated into this Agreement as if set out in this
Agreement.

	7.	 	COMPANY’S UNDERTAKINGS

	7.1	 	Undertakings

	 	(a)	 	Contract in force

	 	 	 	The Company shall ensure that the Contracts, as long as such Contracts continue to
subsist, are in full force and effect and enforceable in accordance with their

- 5 -

 

	 	 	 	terms and, at the date hereof, it is not in breach of any term or condition of the
Contracts and that, unless otherwise permitted by the Principal Finance Documents,
there are no restrictions on its ability to assign the Assigned Property pursuant to
this Agreement, whether contained in the Contracts or in any other document, which
would materially and adversely affect the validity or enforceability of this
Agreement.

	 	(b)	 	Negative pledge

	 	 	 	Unless permitted by this Agreement or the Principal Finance Documents, the Company
will not create or permit to subsist any security interest on any part of the
Assigned Property, in each case without the consent of the Collateral Agent (acting
on the instructions of the Applicable Representative).

	 	(c)	 	Disposals

	 	 	 	The Company shall not, whilst an Enforcement Event has occurred which is continuing,
enter into a single transaction or a series of transactions (whether related or not)
and whether voluntarily or involuntarily, to sell, transfer or otherwise dispose of
the whole or any part of the Assigned Property or otherwise deal with any part of
the Assigned Property.

	 	(d)	 	Not Jeopardise

	 	 	 	Unless otherwise permitted by the Principal Finance Documents or this Agreement, the
Company shall not do or permit to be done any act or thing which would materially
and adversely affect the validity and enforceability of this Agreement.

	 	(e)	 	No variation

	 	 	 	The Company shall not, whilst an Enforcement Event has occurred which is continuing,
vary, rescind or amend the Contracts except with the prior written consent of the
Collateral Agent (acting on the instructions of the Applicable Representative).

	 	(f)	 	Compliance with Contract

	 	 	 	The Company shall promptly comply with its obligations under each of the Contracts.

	8.	 	FURTHER ASSURANCE

	8.1	 	Covenant for Further Assurance

	 	 	Subject to the Agreed Security Principles, the Company will promptly at its own cost do all
such acts or execute all such documents (including assignments, transfers, mortgages,
charges, notices and instructions) as the Collateral Agent may reasonably specify (and in

- 6 -

 

	 	 	such form as the Collateral Agent may reasonably require in favour of the Collateral Agent
or its nominee(s) or Delegate) for the purposes of (a) exercising the Collateral Rights or
perfecting the Lien created or intended to be created in respect of the Assigned Property
(which may include the execution by the Company of a mortgage, charge or assignment over all
or any of the assets constituting, or intended to constitute, the Assigned Property) or for
the exercise of the Collateral Rights and/or (b) to facilitate the realisation of the
Assigned Property in each case in accordance with the rights vested in it under this
Agreement.

	8.2	 	Prescribed Wording

	 	 	The following covenants shall be implied in respect of any action taken by the Company to
comply with its obligations under Clause 8.1 (Covenant for Further Assurance):

	 	(a)	 	the Company has the right to take such action in respect of the Assigned
Property; and

	 	(b)	 	the Company will at its own cost do all that it reasonably can to give the
Collateral Agent or its nominee or Delegate the title and/or rights that it purports to
give.

	9.	 	POWER OF ATTORNEY

	9.1	 	Appointment and Powers

	 	 	The Company by way of security irrevocably appoints the Collateral Agent and any Receiver
severally to be its attorney and in its name, on its behalf and as its act and deed to
execute, deliver and perfect all documents and do all things which the attorney may consider
to be required or desirable for:

	 	(a)	 	carrying out any obligation imposed on the Company by this Agreement or any
other agreement binding on the Company to which the Collateral Agent is a party
(including the execution and delivery of any deeds, charges, assignments or other
security and any transfers of the Assigned Property);

	 	(b)	 	enabling the Collateral Agent to exercise, or delegate the exercise of, all or
any of the Collateral Rights; and

	 	(c)	 	enabling any Receiver to exercise, or delegate the exercise of, any of the
rights, powers and authorities conferred on them by or pursuant to this Agreement or by
law,

	 	 	provided always that the Collateral Agent may only be entitled to exercise the powers
conferred upon it by the Company under this Clause 9.1 if:

	 	(i)	 	an Enforcement Event has occurred and is continuing; and/or

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	 	(ii)	 	the Collateral Agent has received notice from the Applicable Representative the
Loan Parties’ Agent and/or the Company that the Company has failed to comply with a
further assurance or perfection obligation within 10 Business Days of the Company being
notified of that failure (with a copy of that notice being sent to the Loan Parties’
Agent),

	 	 	provided further that the Collateral Agent shall not be obliged to exercise the powers
conferred upon it by the Company under this Clause 8.1 unless and until it shall have been
(a) instructed to do so by the Applicable Representative and (b) indemnified and/or secured
and/or prefunded to its satisfaction.

	9.2	 	Ratification

	 	 	The Company shall ratify and confirm all things done and all documents executed by any
attorney in the exercise or purported exercise of all or any of his powers.

	10.	 	SECURITY ENFORCEMENT

	10.1	 	Time for Enforcement

	 	 	If an Enforcement Event has occurred and is continuing, or if a petition or application is
presented for the making of an administration order in relation to the Company, or if any
person who is entitled to do so gives written notice of its intention to appoint an
administrator of the Company or files such a notice with the court or is requested to do so
by the Company, save to the extent that such petition, application, notice or filing is not
made by a member of the Group or any director of any member of the Group and is frivolous or
vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition,
application, notice or filing being made the security created by or pursuant to this
Agreement is immediately enforceable and the Collateral Agent may without notice to the
Company or prior authorisation from any court, in its absolute discretion and shall, if so
instructed by the Applicable Representative:

	 	(a)	 	secure and perfect its title to all or any part of the Assigned Property
(including transferring the same into the name of the Collateral Agent or its
nominee(s)) or otherwise exercise in relation to the Assigned Property all the rights
of an absolute owner;

	 	(b)	 	enforce all or any part of the Lien created by this Agreement (at the times, in
the manner and on the terms it thinks fit) and appropriate, hold, sell, or otherwise
dispose of all or any part of the Assigned Property (at the time, in the manner and on
the terms it thinks fit);

	 	(c)	 	whether or not it has appointed a Receiver, exercise all or any of the powers,
authorisations and discretions conferred by the Law of Property Act 1925 (as varied or
extended by this Agreement) on chargees and by this Agreement on any Receiver or
otherwise conferred by law on chargees or Receivers; and

- 8 -

 

	 	(d)	 	collect, recover or compromise, and give good discharge for any moneys paid or
payable to the Company under or in respect of the Assigned Property, and enforce (in
any way whatsoever including, without limitation, by way of instituting proceedings in
the Company’s name) any rights or claims arising or in respect of the Assigned
Property.

	10.2	 	Power of sale

	 	(a)	 	The power of sale or other disposal conferred on the Collateral Agent and on
the Receiver by this Agreement shall operate as a variation and extension of the
statutory power of sale under Section 101 of the Law of Property Act 1925 and such
power shall arise (and the Secured Liabilities shall be deemed due and payable for that
purpose) on execution of this Agreement.

	 	(b)	 	The restrictions contained in Sections 93 and 103 of the Law of Property Act
1925 shall not apply to this Agreement or to the exercise by the Collateral Agent of
its right to consolidate all or any of the Lien created by or pursuant to this
Agreement with any other security in existence at any time or to its power of sale
which powers may be exercised by the Collateral Agent without notice to the Company on
or at any time if an Enforcement Event has occurred and is continuing.

	10.3	 	Assignee’s liability

	 	 	Neither the Collateral Agent nor any Receiver will be liable to account as mortgagee or
mortgagee in possession in respect of the Assigned Property or be liable for any loss upon
realisation or for any neglect or default of any nature whatsoever in connection with the
Assigned Property for which a mortgagee or mortgagee in possession might as such be liable.

	10.4	 	Right of Appropriation

	 	 	To the extent that any of the Assigned Property constitutes “financial collateral” and this
Agreement and the obligations of the Company hereunder constitute a “security financial
collateral arrangement” (in each case as defined in, and for the purposes of, the Financial
Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226) (the “Regulations”) the
Collateral Agent shall have the right if an Enforcement Event has occurred and is continuing
to appropriate all or any part of such financial collateral in or towards discharge of the
Secured Liabilities. For this purpose, the parties agree that the value of such financial
collateral so appropriated shall be the market price of the Assigned Property determined by
the Collateral Agent (acting on the instructions of the Applicable Representative) by
reference to a public index or by such other process as the Collateral Agent (acting on the
instructions of the Applicable Representative) shall select, including independent
valuation. The parties agree that the method of valuation provided for in this Agreement
shall constitute a commercially reasonable method of valuation for the purposes of the
Regulations.

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	10.5	 	Statutory powers

	 	 	The powers conferred by this Agreement on the Collateral Agent are in addition to and not in
substitution for the powers conferred on mortgagees and mortgagees in possession under the
Law of Property Act 1925, the Insolvency Act 1986 or otherwise by law and in the case of any
conflict between the powers contained in any such Act and those conferred by this Agreement
the terms of this Agreement will prevail.

	11.	 	RECEIVERS

	11.1	 	Appointment and Removal

	 	 	Notwithstanding any other provisions of this Agreement, at any time after having been
requested to do so by the Company or if the security created by this Agreement is
enforceable in accordance with Clause 10 (Security Enforcement), the Collateral Agent may by
deed or otherwise (acting through an authorised officer of the Collateral Agent), without
prior notice to the Company:

	 	(a)	 	appoint one or more persons to be a Receiver of the whole or any part of the
Assigned Property;

	 	(b)	 	remove (so far as it is lawfully able) any Receiver so appointed;

	 	(c)	 	appoint another person(s) as an additional or replacement Receiver(s); or

	 	(d)	 	appoint one or more persons to be an administrator of the Company.

	11.2	 	Capacity of Receivers

	 	 	Each person appointed to be a Receiver pursuant to Clause 11.1 (Appointment and removal)
will be:

	 	(a)	 	entitled to act individually or together with any other person appointed or
substituted as Receiver;

	 	(b)	 	for all purposes shall be deemed to be the agent of the Company which shall be
solely responsible for his acts, defaults and liabilities and for the payment of his
remuneration and no Receiver shall at any time act as agent for the Collateral Agent;
and

	 	(c)	 	entitled to remuneration for his services at a rate to be fixed by the
Collateral Agent from time to time (without being limited to the maximum rate specified
by the Law of Property Act 1925).

	11.3	 	Statutory powers of appointment

	 	 	The powers of appointment of a Receiver shall be in addition to all statutory and other
powers of appointment of the Collateral Agent under the Law of Property Act 1925 (as

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	 	 	extended by this Agreement) or otherwise and such powers shall remain exercisable from time
to time by the Collateral Agent in respect of any part of the Assigned Property.

	11.4	 	Powers of Receivers

	 	 	Every Receiver shall (subject to any restrictions in the instrument appointing him but
notwithstanding any winding-up or dissolution of the Company) have and be entitled to
exercise, in relation to the Assigned Property in respect of which he was appointed, and as
varied and extended by the provisions of this Agreement (in the name of or on behalf of the
Company or in his own name and, in each case, at the cost of the Company):

	 	(a)	 	all the powers conferred by the Law of Property Act 1925 on mortgagors and on
mortgagees in possession and on receivers appointed under that Act;

	 	(b)	 	all the powers of an administrative receiver set out in Schedule 1 to the
Insolvency Act 1986 (whether or not the Receiver is an administrative receiver);

	 	(c)	 	all the powers and rights of an absolute owner and power to do or omit to do
anything which the Company itself could do or omit to do;

	 	(d)	 	the power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement or any of the Principal
Finance Documents (including the power of attorney) on such terms and conditions as it
shall see fit which delegation shall not preclude either the subsequent exercise, any
subsequent delegation or any revocation of such power, authority or discretion by the
Receiver itself; and

	 	(e)	 	the power to do all things (including bringing or defending proceedings in the
name or on behalf of the Company) which seem to the Receiver to be incidental or
conducive to:

	 	(i)	 	any of the functions, powers, authorities or discretions
conferred on or vested in him;

	 	(ii)	 	the exercise of any Collateral Rights (including realisation of
all or any part of the Assigned Property); or

	 	(iii)	 	bringing to his hands any assets of the Company forming part
of, or which when got in would be, the Assigned Property.

	11.5	 	Consideration

	 	 	The receipt of the Collateral Agent or any Receiver shall be a conclusive discharge to a
purchaser and, in making any sale or disposal of any of the Assigned Property or making any
acquisition, the Collateral Agent or any Receiver may do so for such consideration, in such
manner and on such terms as it thinks fit.

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	11.6	 	Protection of purchasers

	 	 	No purchaser or other person dealing with the Collateral Agent or any Receiver shall be
bound to inquire whether the right of the Collateral Agent or such Receiver to exercise any
of its powers has arisen or become exercisable or be concerned with any propriety or
regularity on the part of the Collateral Agent or such Receiver in such dealings.

	11.7	 	Discretions

	 	 	Any liberty or power which may be exercised or any determination which may be made under
this Agreement by the Collateral Agent or any Receiver may, subject to the terms and
conditions of the Intercreditor Arrangements and to any requirement of reasonableness
required under this Agreement, be exercised or made in its absolute and unfettered
discretion without any obligation to give reasons.

	11.8	 	Delegation

	 	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement (to the extent permitted
by English law), each of the Collateral Agent and any Receiver shall have full power to
delegate (either generally or specifically) the powers, authorities and discretions
conferred on it by this Agreement (including the power of attorney) on such terms and
conditions as it shall see fit which delegation shall not preclude either the subsequent
exercise, any subsequent delegation or any revocation of such power, authority or discretion
by the Collateral Agent or the Receiver itself.

	12.	 	EFFECTIVENESS OF COLLATERAL

	12.1	 	Collateral Cumulative

	 	 	The collateral constituted by this Agreement and the Collateral Rights shall be cumulative,
in addition to and independent of every other security which the Collateral Agent or any
other Secured Party may at any time hold for the Secured Liabilities or any rights, powers
and remedies provided by law. No prior security held by the Collateral Agent or any other
Secured Party over the whole or any part of the Assigned Property shall merge into the
collateral constituted by this Agreement.

	12.2	 	No Waiver

	 	 	No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent,
any right, power or remedy of the Collateral Agent provided by this Agreement or by law
shall operate as a waiver, nor shall any single or partial exercise of that right, power or
remedy prevent any further or other exercise of that or any other right, power or remedy of
the Collateral Agent provided by this Agreement or by law.

	12.3	 	Illegality, Invalidity, Unenforceability

	 	 	If, at any time, any provision of this Agreement is or becomes illegal, invalid or
unenforceable in any respect under the law of any jurisdiction, neither the legality,

- 12 -

 

	 	 	validity or enforceability of the remaining provisions of this Agreement nor the legality,
validity or enforceability of such provision under the law of any other jurisdiction will in
any way be affected or impaired and if any part of the security intended to be created by or
pursuant to this Agreement is invalid, unenforceable or ineffective for any reason, that
shall not affect or impair any other part of the security.

	12.4	 	No liability

	 	 	None of the Collateral Agent, its nominee(s) or any receiver or Delegate appointed pursuant
to this Agreement shall be liable by reason of (a) taking any action permitted by this
Agreement or (b) any neglect or default in connection with the Assigned Property or (c) the
taking possession or realisation of all or any part of the Assigned Property except to the
extent provided in the Principal Finance Documents.

	12.5	 	Implied Covenants for Title

	 	(a)	 	The covenants set out in Sections 3(1), 3(2) and 6(2) of the Law of Property
(Miscellaneous Provisions) Act 1994 will not extend to Clause 3 (Assignment).

	 	(b)	 	It shall be implied in respect of Clause 3 (Assignment) that the Company is
assigning the Assigned Property free from all charges and encumbrances (whether
monetary or not) and from all other rights exercisable by third parties (including
liabilities imposed and rights conferred by or under any enactment).

	12.6	 	Continuing Lien

	 	(a)	 	The Lien from time to time constituted by this Agreement is a continuing
security and will remain in full force and effect as a continuing security until
released or discharged by the Collateral Agent.

	 	(b)	 	No part of the security from time to time constituted by this Agreement will be
considered satisfied or discharged by any intermediate payment, discharge or
satisfaction of the whole or any part of the Secured Liabilities.

	12.7	 	Immediate recourse

	 	 	The Company waives any right it may have of first requiring the Collateral Agent or a
Secured Party to proceed against or enforce any other rights or Lien or claim payment from
any person before claiming from the Company under this Agreement. This waiver applies
irrespective of any law or any provision of this Agreement to the contrary.

	12.8	 	Avoidance of Payments

	 	 	Notwithstanding Clause 3.3 (Release) if the Collateral Agent considers that any amount paid
or credited to it is capable of being avoided or reduced by virtue of any bankruptcy,
insolvency, liquidation or similar laws the liability of the Company under this Agreement
and the security constituted by this Agreement shall continue and that amount shall not be
considered to have been irrevocably paid.

- 13 -

 

	12.9	 	Waiver of defences

	 	 	The obligations of the Company under this Agreement and the Collateral Rights will not be
affected by any act, omission, matter or thing which, but for this Clause 12.9 (Waiver of
defences), would reduce, release or prejudice any of its obligations under this Agreement
and this Lien and whether or not known to the Company or the Collateral Agent or any Secured
Party including:

	 	(a)	 	any time, waiver or consent granted to, or composition with, any Loan Party or
other person;

	 	(b)	 	the release of any other Loan Party or any other person under the terms of any
composition or arrangement with any creditor of any Loan Party;

	 	(c)	 	the taking, variation, compromise, exchange, renewal or release of, or refusal
or neglect to perfect, take up or enforce, any rights against, or Lien over assets of,
any Loan Party or other person or any non-presentment or non-observance of any
formality or other requirement in respect of any instruments or any failure to realise
the full value of any other Lien;

	 	(d)	 	any incapacity or lack of powers, authority or legal personality of or
dissolution or change in the members or status of, any Loan Party or any other person;

	 	(e)	 	any amendment, novation, supplement, extension (whether of maturity or
otherwise) or restatement (in each case however fundamental and of whatsoever nature,
and whether or not more onerous) or replacement of Loan Document or any document or
security or of the Secured Liabilities;

	 	(f)	 	any unenforceability, illegality or invalidity of any obligation of any person
under any Loan Document or any other document or security or of the Secured
Liabilities; or

	 	(g)	 	any insolvency or similar proceedings.

	13.	 	INDEMNITY

	13.1	 	Indemnity

	 	 	To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement, the Company
shall, notwithstanding any release or discharge of all or any part of the security,
indemnify the Collateral Agent, its agents, attorneys, any Delegate and any Receiver against
any action, proceeding, claims, losses, liabilities, expenses, demands, taxes and costs
which it may sustain as a consequence of any breach by the Company of the provisions of this
Agreement, the exercise or purported exercise of any of the rights and powers conferred on
them by this Agreement or otherwise relating to the Assigned Property.

- 14 -

 

	13.2	 	Interest on Demands

	 	 	Section 2.07 (Default Interest) of the Credit Agreement applies to amounts which the Company
fails to pay under this Agreement.

	13.3	 	Payments Free Of Deduction

	 	 	Section 2.20 (Taxes) of the Credit Agreement applies to this Agreement, save that, for the
purposes of this Agreement, the references in Section 2.20 (Taxes) of the Credit Agreement
to “a Loan Party”, “that Loan Party” and “each Loan Party” shall be replaced with “the
Company”.

	14.	 	APPLICATION OF PROCEEDS

	 	 	All moneys received or recovered by the Collateral Agent or any Receiver pursuant to this
Agreement or the powers conferred by it shall (subject to the claims of any person having
prior rights thereto and by way of variation of the provisions of the Law of Property Act
1925) be applied in accordance with Section 2.01 of the First Lien Intercreditor Agreement

	15.	 	OTHER SECURITY INTERESTS

	15.1	 	Redemption or transfer

	 	 	In the event of any action, proceeding or step being taken to exercise any powers or
remedies conferred by any prior ranking Lien in case of exercise by the Collateral Agent or
any Receiver or any Delegate of any power of sale under this Agreement the Collateral Agent
may redeem such prior Lien or procure the transfer thereof to itself.

	15.2	 	Accounts

	 	 	The Collateral Agent may settle and pass the accounts of the prior Lien and any accounts so
settled and passed will be conclusive and binding on the Company.

	15.3	 	Costs of redemption or transfer

	 	 	All principal monies, interest, costs, charges and expenses of and incidental to any
redemption or transfer will be paid by the Company to the Collateral Agent on demand
together with accrued interest thereon (as well as before judgment) at the rate from time to
time applicable to unpaid sums specified in the Credit Agreement from the time or respective
times of the same having been paid or incurred until payment thereof (after as well as
before judgment).

	15.4	 	Subsequent Interests

	 	 	If the Collateral Agent (acting in its capacity as security trustee or otherwise) or any of
the Secured Parties at any time receives notice or is deemed to have received notice of any
subsequent Lien affecting all or any part of the Assigned Property or any assignment

- 15 -

 

		 	or transfer of the Assigned Property which in either case is prohibited by the terms of this
Agreement or the Principal Finance Documents, all payments made by the Company to the
Collateral Agent or any of the Secured Parties after that time shall be treated as having
been credited to a new account of the Company and not as having been applied in reduction of
the Secured Liabilities as at the time when the Collateral Agent received notice.

	16.	 	SUSPENSE ACCOUNTS

	 	 	All monies received, recovered or realised by the Collateral Agent under this Agreement
(including the proceeds of any conversion of currency) may in the discretion of the
Collateral Agent be credited to any interest bearing suspense or impersonal account
maintained with the Collateral Agent or any bank, building society or financial institution
as it considers appropriate and may be held in such account for so long as the Collateral
Agent may think fit (acting on the instructions of the Applicable Representative) pending
their application from time to time (as the Collateral Agent is entitled to do in its
discretion) in or towards the discharge of any of the Secured Liabilities and save as
provided herein no party will be entitled to withdraw any amount at any time standing to the
credit of any suspense or impersonal account referred to above.

	17.	 	CURRENCY INDEMNITY

	17.1	 	The Secured Liabilities shall be paid in the currency in which it is denominated at the
relevant time, unless the Loan Documents provides otherwise.

	17.2	 	If any Secured Liabilities is received from the Company in a currency (“first currency”)
other than the currency (“second currency”) in which it is payable (whether as a result of
obtaining or enforcing an order or judgment, the dissolution of any person or otherwise), the
amount received shall only satisfy the Company’s obligation to pay its Secured Liabilities to
the extent of the amount in the second currency which the relevant Secured Party is able, in
accordance with its usual practice, to purchase with the amount received in the first currency
on the date of that receipt (or, if it is not possible to make that purchase on that date, on
the first date upon which it is possible to do so).

	17.3	 	Subject to Section 9.05 of the Credit Agreement and the terms of the Principal Finance
Documents, the Company indemnifies each Secured Party against:

	 	(a)	 	any loss sustained by it as a result of the amount purchased by it in the
second currency pursuant to Clause 17.2 above being less than the amount due; and

	 	(b)	 	all costs and expenses properly incurred by it in purchasing the second
currency,

	 	 	in respect of any Secured Liabilities received from the Company.

- 16 -

 

	17.4	 	The Company shall pay to the relevant Secured Party, promptly upon demand, in the currency
stipulated, all amounts payable pursuant to such indemnity.

	18.	 	ASSIGNMENT

	18.1	 	Permitted Successors

	 	 	The Collateral Agent may assign and transfer all or any of its rights and obligations under
this Agreement to facilitate the performance of its role as Collateral Agent under the Loan
Documents in accordance with the Intercreditor Arrangements. This Agreement shall be
binding upon and shall inure to the benefit of each party and its direct or subsequent legal
successors, permitted transferees and assigns.

	18.2	 	Collateral Agent Successors

	 	 	This Agreement shall remain in effect despite any amalgamation or merger (however effected)
relating to the Collateral Agent; and references to the Collateral Agent shall include any
assignee or successor in title of the Collateral Agent and any person who, under the laws of
its jurisdiction of incorporation or domicile, has assumed the rights and obligations of the
Collateral Agent under this Agreement or to which, under such laws, those rights and
obligations have been transferred.

	19.	 	DISCLOSURE

	 	 	Subject to Section 9.16 of the Credit Agreement and the terms of the Principal Finance
Documents the Collateral Agent shall be entitled to disclose such information concerning the
Company or any other person and this Agreement as the Collateral Agent considers appropriate
to any actual or proposed direct or indirect successor or to any person to whom information
may be required to be disclosed by applicable law.

	20.	 	WAIVERS AND COUNTERPARTS

	20.1	 	Waivers

	 	 	No waiver by the Collateral Agent of any of its rights under this Agreement shall be
effective unless given in writing.

	20.2	 	Counterparts

	 	 	This Agreement may be executed in any number of counterparts, and this has the same effect
as if the signatures on the counterparts were on a single copy of this Agreement.

	21.	 	LAW

	 	 	This Agreement and any non-contractual obligations arising out of or in connection with it
are governed by English law.

- 17 -

 

	22.	 	ENFORCEMENT

	22.1	 	Jurisdiction of English Courts

	 	(a)	 	The courts of England have exclusive jurisdiction to settle any dispute (a
“Dispute”) arising out of, or connected with this Agreement (including a dispute
regarding the existence, validity or termination of this Agreement or the consequences
of its nullity) or any non-contractual obligations arising out of or in connection with
this Agreement.

	 	(b)	 	The parties agree that the courts of England are the most appropriate and
convenient courts to settle Disputes and accordingly no party will argue to the
contrary.

	 	(c)	 	This Clause 22 (Enforcement) is for the benefit of the Collateral Agent only.
As a result and notwithstanding Clause 22.1(a), it does not prevent the Collateral
Agent from taking proceedings relating to a Dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent
proceedings in any number of jurisdictions.

	22.2	 	Service of process

	 	 	Without prejudice to any other mode of service allowed under any relevant law, the
Company:

	 	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for
service of process in relation to any proceedings before the English courts in
connection with this Agreement; and

	 	(b)	 	agrees that failure by an agent for service of process to notify the Company of
the process will not invalidate the proceedings concerned.

THIS AGREEMENT has been signed on behalf of the Collateral Agent and executed as a deed by the
Company and is intended to be and is hereby delivered by it as a deed on the date specified above.

- 18 -

 

SCHEDULE 1

FORM OF NOTICE OF ASSIGNMENT

			
	To:	 	[Closure Systems International B.V./

SIG Euro Holding AG & Co. KGaA]

Date: [•]

Dear Sirs,

	1.	 	We hereby give you notice that we have assigned to The Bank of New York Mellon (the
“Collateral Agent”) pursuant to an assignment agreement entered into by us in favour of the
Collateral Agent dated [•] (“Assignment Agreement”) all our right, title and interest in and
to the:

	 	(a)	 	the €124,603,648.83 intercompany loan dated 5 November 2009 between Beverage
Packaging Holdings (Luxembourg) III S.à r.l as lender and Closure Systems International
B.V. as borrower; and

	 	(b)	 	the €239,665,296.90 intercompany loan dated 5 November 2009 between the
Beverage Packaging Holdings (Luxembourg) III S.à r.l as lender and certain subsidiaries
incorporated in Germany and Austria as borrowers,

	 	 	(together the “Contracts”), including all monies which may be payable in respect of each of
the Contracts.

	2.	 	You are hereby instructed that, following your receipt of any notice from the Collateral
Agent that an Enforcement Event (as defined in the Assignment Agreement) has occurred and is
continuing:

	 	(a)	 	all payments by you to us under or arising from the Contracts (the “Payments”)
shall be paid to the Collateral Agent or to its order (with a copy to us) as it may
specify in writing from time to time;

	 	(b)	 	all remedies provided for in the Contracts or available at law or in equity
shall be exercisable by, or at the direction of the Collateral Agent; and

	 	(c)	 	all rights to compel performance of the Contracts shall be exercisable by, or
at the direction of the Collateral Agent; and

	 	(d)	 	all rights, interests and benefits whatsoever accruing to or for the benefit of
ourselves arising from the Contracts shall belong to the Collateral Agent.

	3.	 	For the avoidance of doubt, unless and until you receive notice from the Collateral Agent
that an Enforcement Event has occurred and is continuing, the Contracts may be performed as
normal or otherwise in accordance with their terms.

- 19 -

 

	4.	 	We shall continue to be solely responsible for the performance of our obligations under or in
connection with the Contracts.

	5.	 	You are hereby instructed that, following your receipt of any notice from the Collateral
Agent that an Enforcement Event (as defined in the Assignment Agreement) has occurred and is
continuing without requiring further approval from us, to provide the Collateral Agent with
such information relating to the Contracts as it may from time to time request and to send
copies of all notices issued by you under the Contracts to the Collateral Agent as well as to
us.

	6.	 	These instructions may not be revoked, nor may the terms of the Contracts be amended, varied,
waived or terminated, without the prior written consent of the Collateral Agent.

	7.	 	Please acknowledge receipt of this notice by signing the acknowledgement on the enclosed copy
letter and returning it to the Collateral Agent at International Corporate Trust, 101 Barclay
Street, 4E New York, N.Y. 10286 marked for the attention of International Corporate Trust.

	8.	 	This notice and any non-contractual obligations arising out of or in connection with it are
governed by English law.

Terms defined in the First Lien Intercreditor Agreement have the same meaning in this notice.

Yours faithfully,

_________________________

For and on behalf of Beverage Packaging Holdings (Luxembourg) III S.à r.l.

We confirm our agreement to the terms of this notice and instruct you, in accordance with Clause 2
of this notice, and with effect from your date of receipt of any further notice from the Collateral
Agent that an Enforcement Event has occurred and is continuing, that:

	(a)	 	the Payments shall be made to, or at the direction of, Beverage Packaging Holdings
(Luxembourg) III S.à r.l.; and

	(b)	 	all remedies provided for in the Contracts (or otherwise available) and all rights to compel
performance of the Contracts shall be exercisable by, or at the direction of, Beverage
Packaging Holdings (Luxembourg) III S.à r.l.,

in each case, until you receive written notification from us to the contrary which notice shall not
be given unless an Enforcement Event has occurred and is continuing.

__________________

For and on behalf of The Bank of New York Mellon

- 20 -

 

Acknowledgement

On copy only:

To: THE BANK OF NEW YORK MELLON

We acknowledge receipt of a notice in the terms set out above and confirm that we have not received
notice of any previous assignments or charges of or over any of the rights, interests and benefits
in and to the relevant Contract and that, during the subsistence of the Assignment Agreement, we
will comply with the terms of the notice from Beverage Packaging Holdings (Luxembourg) III S.à r.l.
(“Company”).

We further confirm that except as permitted under the Principal Finance Documents, we have not
claimed or exercised and have no outstanding right to claim or exercise any right of set-off,
counterclaim or other right relating to the Payments.

We acknowledge receipt of instructions from you in connection with the assignment of the relevant
Contract and confirm that we shall act in accordance with them until we receive written
notification from you to the contrary.

For and on behalf of [Closure Systems International B.V./SIG Euro Holding AG & Co. KGaA]

	 	 	 	 
	By:  	
 	 
	 	 

	 	 	 	 
	Dated:  	
 	 

- 21 -

 

	 	 	 	 	 	 	 

	Company
	 	 	 	 	 	 
	 
	Signed as a deed by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorney for

	 	 	)	 	 	 
	Beverage Packaging Holdings

	 	 	)	 	 	 
	(Luxembourg) III S.À R.L.

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	PHILIP WEST

	 	 	 

	/s/ CHIARA BROPHY
 

	 	Signature of witness 
	CHIARA BROPHY

	 	Name of witness
	LEVEL 25

	 	Address of witness
	2 PARK STREET

	 	 
	SYDNEY
	 	 
	LAWYER

	 	Occupation of witness

The Collateral Agent

THE BANK OF NEW YORK MELLON

	 	 	 	 	 

	Signed by

	 	 	)	 
	THE BANK OF NEW YORK MELLON

	 	 	)	 
	 

	 	 	)	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ MAKSIM GENKIN
 	 
	 	 	Name:  	   MAKSIM GENKIN 	 
	 	 	Address: 101 BARCLAY STREET, 4E, NY NY, 10286

Fax: 212-815-5366

Attention: INTL. CORPORATE TRUST 	 
	 

- 22 -exv4w117

Exhibit 4.117

SIG FINANZ AG

as Transferor

and

THE BANK OF NEW YORK MELLON

as Collateral Agent

 

SECURITY TRANSFER AND ASSIGNMENT AGREEMENT

REGARDING INTELLECTUAL PROPERTY RIGHTS

(SICHERUNGSÜBEREIGNUNG UND — ABTRETUNG

VON GEWERBLICHEN SCHUTZRECHTEN)

 

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 Interpretation

	 	 	4	 
	2. Purpose of Transfer and Assignment

	 	 	8	 
	3. Assignment-Transfer

	 	 	8	 
	4. Documentation of the Collateral

	 	 	8	 
	5. Information

	 	 	9	 
	6. Right of Inspection

	 	 	9	 
	7. Registration of the Collateral

	 	 	9	 
	8. Right of Enforcement

	 	 	10	 
	9. Swiss Limitations

	 	 	13	 
	10. Representations and Warranties

	 	 	14	 
	11. Undertakings

	 	 	14	 
	12. Bookkeeping and Data-Processing

	 	 	15	 
	13. Further Assurance

	 	 	15	 
	14. Delegation

	 	 	16	 
	15. Indemnity

	 	 	16	 
	16. No liability

	 	 	16	 
	17. Duration and Independence

	 	 	16	 
	18. Release (Sicherheitenfreigabe)

	 	 	17	 
	19. Partial Invalidity, Waiver

	 	 	17	 
	20. Amendments

	 	 	17	 
	21. Notices and their Language

	 	 	18	 
	22. Applicable Law, Jurisdiction

	 	 	19	 
	23. Conclusion of this Agreement (Vertragsschluss)

	 	 	19	 

 

 

	 	 	 	 	 
	Clause	 	Page	 
	Schedule 1 List of Current Borrowers, Current Guarantors and
Current Senior Secured Note Guarantors

	 	 	21	 
	Part 1 — the Current Borrowers

	 	 	21	 
	Part 2 — the Current Guarantors

	 	 	21	 
	Part 3 — List of Current Senior Secured Note Guarantors

	 	 	23	 
	Schedule 2 List of Patents

	 	 	26	 
	Schedule 3 Übertragungserklärung (Declaration of Assignment)

	 	 	27	 
	Signature Page

	 	 	28	 

 

 

This SECURITY TRANSFER AND ASSIGNMENT AGREEMENT (the “Agreement”) is made on 2 December 2009

BETWEEN:

	(1)	 	SIG Finanz AG, company limited by shares incorporated under the laws of Switzerland,
having its registered office at Laufengasse 18, CH-8212 Neuhausen am Rheinfall, Switzerland
and registered in the Commercial Register of the Canton of Schaffhausen with the federal
register number CH-290.3.004.147-6 (the “Transferor”); and
	 
	(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”).

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 between, inter alia, the parties listed in Part 1 of
Schedule 1 hereto as current borrowers (the “Current Borrowers”), the parties listed inPart
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 The Bank of New York Mellon as collateral 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 Current
Borrowers and certain other entities which may accede to the 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 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)	 	The Transferor has agreed to transfer the Collateral (as defined below) to the Collateral
Agent as security for the Secured Parties’ (as defined below) respective claims against the
Grantors (as defined below) (or any of them) in respect of the Obligations (as defined below).
	 
	(D)	 	The security created by or pursuant to this Agreement is to be held and administered by
the Collateral Agent for the Secured Parties (as defined below) pursuant to a first lien
intercreditor agreement dated 5 November 2009 between, inter alia, the Collateral Agent, the
Indenture Trustee, the Administrative Agent and the Grantors (each as

- 3 -

 

	 	 	defined below) and
others (as amended, varied, novated, supplemented, superseded or extended from time to time,
the “First Lien Intercreditor Agreement”).
	 
	(E)	 	The Transferor has granted a licence for use of the Collateral (as defined below) to SIG
allCaps AG.

NOW IT IS HEREBY AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions:
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Island branch, having its business
address at One Madison Avenue, New York, NY 10010, United States of America in its capacity
as administrative agent under the Credit Agreement and any successor appointed as
administrative agent under the Credit Agreement.
	 
	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.
	 
	 	 	“Cash Management Bank” shall mean Citibank NA, Banco Nacional De Mexico S.A., Citibank
International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets Deutschland AG
& Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any of the Lender’s
or the Administrative Agent’s affiliates (at the time the cash management services
arrangement is entered into) provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as cash management bank.
	 
	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management Bank
to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Collateral” means the Patents.
	 
	 	 	“Credit Documents” shall mean the Loan Documents and the Senior Secured Note Documents.
	 
	 	 	“Enforcement Event” shall mean an Event of Default.
	 
	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit Agreement
and/or the Senior Secured Note Indenture.
	 
	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11 May
2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007 and
as amended and restated on or about the date hereof) between, inter alia, Beverage Packaging
Holdings (Luxembourg) I S.A., Rank Group Holdings Limited (now Reynolds Group Holdings
Limited), Beverage Packaging Holdings (Luxembourg) II S.A., Beverage Packaging Holdings
(Luxembourg) III S.à r.l., Credit Suisse AG as security trustee and others.

- 4 -

 

	 	 	“Grantors” means the Loan Parties, the Issuers and the Senior Secured Note Guarantors and
any person that has granted a security interest to the Collateral Agent and/or the Secured
Parties in respect of the obligations of the Loan Parties, the Issuers and the Senior
Secured Note Guarantors under the Credit Documents and “Grantor” means any of them.

	 	 	“Grantors’ Agent” shall mean Reynolds Group Holdings Limited or any other person appointed
as agent of the Grantors in accordance with the Principal Finance Documents.

	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).

	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or the
Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has
entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or
any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement relating
to incremental facilities of up to USD 400,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one or more
Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders pursuant to
which one or more Incremental Term Lenders make available Incremental Term Loan Commitments
and/or one or more Incremental Revolving Credit Lenders make available Incremental Revolving
Credit Commitments respectively.

	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.

	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.

	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.

	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.

	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as indenture
trustee under the Senior Secured Note Indenture and any successor appointed as indenture
trustee under the Senior Secured Notes Indenture.

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	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the Existing
Intercreditor Agreement, in each case as amended, novated, supplemented, restated, or
modified from time to time.

	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.

	 	 	“Lenders” shall mean the Original Lenders and any entity which may become a lender under the
Credit Agreement in the future and “Lender” means any of them.

	 	 	“Loan Documents” shall mean the Credit Agreement, any borrowing subsidiary agreement and/or
guarantor joinder agreement relating to the Credit Agreement, any letter of credit or bank
guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management Bank relating to Cash Management Services,
each Local Facility Agreement and any other document that may be entered into pursuant to
any of the foregoing in relation to the Credit Agreement.

	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which may
accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of them.

	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II
S.A. Beverage Packaging Holdings (Luxembourg) III S.à.r.l. and the Borrowers) by a Local
Facility Provider and “Local Facility” means any of them.

	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.

	 	 	“Local Facility Provider” means each of Deutsche Bank AG, Commerzbank Aktiengesellschaft,
Bank of America, N.A., HSBC Trinkaus & Burkhardt AG and Hong Kong and Shanghai Banking
Corporation Ltd., Thailand, provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as local facility provider.

	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity whatsoever) of
each Grantor to the Secured Parties (or any of them) under each or any of the Credit
Documents, together with all costs, charges and expenses incurred by any Secured Party in
connection with the protection, preservation or enforcement of its respective rights under
the Credit Documents or any other document evidencing or securing any such liabilities. The
Obligations shall further include any obligation based on unjust enrichment
(ungerechtfertigte Bereicherung) or tort (Delikt).

	 	 	“Patents” (Patente) means all German patents and German patent applications currently held
by the Transferor together with the inventions described and claimed

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	 	 	therein which are
listed in Schedule 2 hereto. For the avoidance of doubt, the Patents encompass any
extension of the term of the patents and patent applications as listed in Schedule 2.

	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note Indenture
and the First Lien Intercreditor Agreement.

	 	 	“Promissory Note” shall mean any promissory note executed and delivered by a Borrower upon
the request of a Lender evidencing the amount of principal owed by such Borrower to such
Lender under the Credit Agreement.

	 	 	“Secured Parties” shall mean the Lenders (including in their capacity as issuing bank(s),
and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties, the
Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification obligation
undertaken by any Grantor under any Credit Document, the Senior Secured Note Holders, the
Indenture Trustee, the Collateral Agent, the Local Facility Providers and the Cash
Management Banks.

	 	 	“Senior Secured Note Documents” shall mean the Senior Secured Note Indenture, the Senior
Secured Note Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any
security document relating to the Senior Secured Notes and/or the Senior Secured Note
Indenture and any other document that may be entered into pursuant to any of the foregoing.

	 	 	“Senior Secured Note Guarantees” shall mean the guarantees of the obligations of the Issuers
under the Senior Secured Notes and the Senior Secured Note Indenture by the Senior Secured
Note Guarantors.

	 	 	“Senior Secured Note Guarantors” means the Current Senior Secured Note Guarantors and any
entity which may accede to the Senior Secured Note Indenture as additional guarantor.

	 	 	“Senior Secured Note Holders” shall mean the holders from time to time of the Senior Secured
Notes.

	1.2	 	Construction

	 	 	In this Agreement:

	 	(a)	 	Capitalised terms used in this Agreement (or in any notice given under this
Agreement) but not defined therein shall have the meanings ascribed thereto in the
First Lien Intercreditor Agreement; and

	 	(b)	 	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.

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	2.	 	PURPOSE OF TRANSFER AND ASSIGNMENT

	 	 	The transfer of title and assignment hereunder is constituted in order to secure the prompt
and complete satisfaction of any and all Obligations. The transfer of title and the
assignment hereunder shall also cover any future extension of the Obligations and the
Transferor herewith expressly agrees that the transfer of title and the assignment shall
secure the Obligations as extended or increased from time to time.

	3.	 	ASSIGNMENT-TRANSFER

	3.1	 	The Transferor hereby assigns and transfers to the Collateral Agent in its capacity as
Collateral Agent for the benefit of the Secured Parties the Collateral all present and future
rights in relation to the Collateral. For the avoidance of doubt, no royalties under licence
agreements and sub-licence agreements shall be assigned and transferred.
	 
	3.2	 	The Collateral Agent hereby accepts the assignment and transfer of the Collateral
pursuant to Clause 3.1.
	 
	3.3	 	Title to the Collateral shall pass over to the Collateral Agent on execution of this
Agreement.
	 
	3.4	 	The Collateral Agent shall be entitled to be registered in the relevant public register
as owner of the Collateral only pursuant to Clauses 7 and 8 at the expense of the
Transferor.
	 
	3.5	 	Until realisation of the Collateral pursuant to Clause 8.1, the Transferor shall be
entitled to use and to exercise all rights and powers in respect of the Collateral in
accordance with the terms of the Credit Documents. To this effect the Collateral Agent grants
an exclusive revocable licence to the Transferor for using the Collateral without any
royalties being due therefore, provided that such licence may only be revoked if the
Collateral is in the process of being realised in accordance with Clause 8 hereof. The
Transferor shall be entitled to grant sub-licences without prior written consent of the
Collateral Agent and shall inform the Collateral Agent without undue delay of such
sublicensing (other than in relation to any sub-licensing to the Grantors’ Agent or any of its
affiliates). The Transferor shall further be entitled to apply for the registration of any
Collateral in its own name. If the Collateral is in the process of being realised in
accordance with Clause 8 hereof the Collateral Agent may terminate the exclusive licence
granted pursuant to this Clause 3.5 with immediate effect and will substitute the Transferor
as grantor of any sub-licences. Moreover, all licences the Transferor granted to a member of
the Group can be terminated by the Collateral Agent upon the occurrence of an Enforcement
Event and whilst it is continuing.
	 
	4.	 	DOCUMENTATION OF THE COLLATERAL
	 
	 	 	Upon reasonable request, the Transferor shall deliver to the Collateral Agent up-to-date
excerpts of the relevant registers or application confirmations concerning present and
future registrations of the Collateral with the competent authorities provided, however,
that while no Enforcement Event is continuing such request shall not be made more than once
a year and be limited to those excerpts and applications the Collateral Agent has not
already received, as well as copies of any and all documents

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	 	 	relating to court proceedings
or any other challenge of the validity or use of the Collateral and correspondence with
other owners of intellectual property regarding the validity and scope of the Collateral.
	 
	5.	 	INFORMATION
	 
	5.1	 	The Transferor shall deliver to the Collateral Agent (i) within three months after the
end of each calendar year ending after January 2010 in case of any changes to the status of
Collateral and (ii) after the occurrence of an Enforcement Event whilst it is continuing at
any time upon the request of the Collateral Agent an updated list of the Collateral. The list
or lists shall give the details set forth in Schedule 2.
	 
	5.2	 	The Transferor shall deliver to the Collateral Agent without undue delay, but not later
than 90 days upon execution of this Agreement, a list of licences to the Collateral currently
granted to third parties.
	 
	5.3	 	The list or lists may be delivered to the Collateral Agent in the form of a computer
compact disk or in such other form as from time to time agreed between the Collateral Agent
and the Transferor provided that the Collateral Agent may in its reasonable discretion request
a computer print-out in addition to any other form.
	 
	6.	 	RIGHT OF INSPECTION
	 
	 	 	Except as otherwise set forth in the Principal Finance Documents, the Transferor undertakes
to provide the Collateral Agent without undue delay at its reasonable request with all
information and documents, which are necessary for perfecting and, after an Enforcement
Event and whilst it is continuing, for enforcing the security created hereby.
	 
	7.	 	REGISTRATION OF THE COLLATERAL
	 
	7.1	 	The Transferor shall deliver to the Collateral Agent, not later than 20 Business Days
after the date of this Agreement, a declaration of assignment (Übertragungserklärung) for the
registration of the assignment of the Collateral to the Collateral Agent by the Transferor in
the form of Schedule 3. Such declarations of consent shall only be used after the occurrence
of an Enforcement Event and whilst it is continuing.
	 
	7.2	 	Notwithstanding its rights under Clause 8 hereof, the Collateral Agent shall, in the
event of its registration as the owner of the Collateral and to the extent reasonable,
maintain the Collateral at the expense of the Transferor and exercise the rights following
from the Collateral at the expense of the Transferor.
	 
	7.3	 	After the occurrence of an Enforcement Event and whilst it is continuing or if the
registration is necessary to perfect the assignment and transfer any of the Collateral, the
Collateral Agent is entitled (unless otherwise set forth in the Principal Finance Documents)
to be registered in the respective public register as owner of the Collateral and is entitled
to arrange for its registration or changes of registration in the respective public registers
as the owner of the respective Collateral, for and on behalf of the Secured Parties. The
Transferor shall make all statements and take all actions that are required for the purpose of
registration of the Collateral Agent in accordance

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	 	 	with this Clause 7.3. Insofar as
additional declarations or actions are necessary for the transfer of title and/or assignment
of any part of the Collateral, the Transferor shall, at the Collateral Agent’s request, make
such declarations or undertake such actions.
	 
	8.	 	RIGHT OF ENFORCEMENT

	8.1	 	

	 	(a)	 	Subject to paragraph (b) of this Clause 8.1 below, if (i) an
Enforcement Event has occurred and is continuing and (ii) any of the Obligations has
become due and payable, then the Collateral Agent is entitled to enforce this Agreement
and realise the Collateral.

	 	(b)	 	The Collateral Agent may only realise the Collateral in accordance with
paragraph (a) of this Clause 8.1 above in relation to obligations of any Grantor
(other than obligations under the Credit Documents of (i) the Transferor (v) incurred
as Borrower under the Credit Agreement, (w) incurred as borrower under a Local Facility
Agreement, (x) incurred as a party to and beneficiary under any hedging agreement
entered into with an Hedge Counterparty, (y) owed as cash management obligations to a
Cash Management Bank for Cash Management Services, provided the Transferor is a
beneficiary of the Cash Management Services causing such cash management obligations or
(z) to the extent certain proceeds of the Senior Secured Notes Indenture have been made
available to the Transferor, up to such proceeds and (ii) a direct or indirect
subsidiary of the Transferor (the “Transferor’s Subsidiary”) (v) incurred as Borrower
under the Credit Agreement, (w) incurred as borrower under a Local Facility Agreement,
(x) incurred as a party to and beneficiary under any hedging agreement entered into
with an Hedge Counterparty (y) owed as cash management obligations to a Cash Management
Bank for Cash Management Services, provided the Transferor’s Subsidiary is a
beneficiary of the Cash Management Services causing such cash management obligations or
(z) to the extent certain proceeds of the Senior Secured Notes Indenture have been made
available to the Transferor’s Subsidiary, up to such proceeds) after (i) the
Transferor’s auditors have (y) delivered an audited interim balance sheet of the
Transferor (valuating the Collateral at its realisation value) to the Collateral Agent
and (z) determined the existence and extent of the profits available for the payment of
a dividend by the Transferor in accordance with the relevant provisions of the Swiss
Code of Obligations (the “Auditor’s Determination”) and (ii) the Transferor’s
shareholders have passed for such dividend payment resolutions for the distribution of
dividends (“Dividend Resolution”) in accordance with the relevant provisions of the
Swiss Federal Code of Obligations being in force at that time. The Transferor shall
deliver the Auditor’s Determination and the Dividend Resolution within 30 business days
after the Collateral Agent has given notice to the Transferor of its intention to
realise the Collateral. The Collateral Agent shall only realise the Collateral in
relation to obligations of any Grantor (other than obligations under the Credit
Documents of (i) the Transferor (v) incurred as Borrower under the Credit Agreement,
(w) incurred as borrower under a Local Facility Agreement, (x) incurred as a party to
and beneficiary under any hedging agreement entered into with an Hedge Counterparty,
(y) owed as cash management obligations to a Cash Management Bank for Cash Management
Services, provided the Transferor is

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	 	 	 	a beneficiary of the Cash Management Services
causing such cash management obligations or (z) to the extent certain proceeds of the
Senior Secured Notes Indenture have been made available to the Transferor, up to such
proceeds and (ii) a Transferor’s Subsidiary (v) incurred as Borrower under the Credit
Agreement, (w) incurred as borrower under a Local Facility Agreement, (x) incurred as a
party to and beneficiary under any hedging agreement entered into with an Hedge
Counterparty (y) owed as cash management obligations to a Cash Management Bank for Cash
Management Services, provided the Transferor’s Subsidiary is a beneficiary of the Cash
Management Services causing such cash management obligations or (z) to the extent
certain proceeds of the Senior Secured Notes Indenture have been made available to the
Transferor’s Subsidiary, up to such proceeds) if according to the Auditor’s
Determination and the Dividend Resolution the Transferor has validly resolved to
distribute the profits available for payment of a dividend, subject to Clause 9
(Swiss Limitations) below, provided that if the Collateral is not realised and/or the
security granted hereunder not enforceable, the Collateral Agent may subsequently again
seek to realise the Collateral in accordance with this paragraph (b) of Clause 8.1
and Clause 9 (Swiss Limitations) at any time thereafter.

	8.2	 	The Collateral Agent will notify the Transferor in writing at least 5
(five) business days prior to the enforcement of the security granted hereunder. No such
notice shall be required if (i) the Transferor has generally ceased to make payments, (ii) an
application for the institution of insolvency proceedings is filed by or against the
Transferor or (iii) the Collateral Agent has reasonable grounds to believe that observance of
the notice period would adversely affect the legitimate interests (berechtigte Interessen) of
the Collateral Agent.
	 
	8.3	 	In the case of a sale, the Transferor shall promptly provide the Collateral Agent with
all documents of title and other documents relating to the Collateral.
	 
	8.4	 	At any time while an enforcement event as described in sub-clause 8.1 is continuing,
the Collateral Agent has the right to sell all or part of the Collateral by way of private
sale to the extent necessary to satisfy any outstanding Obligations, it being understood that
the Collateral Agent shall apply the proceeds of such realisation towards the Obligations in
accordance with the First Lien Intercreditor Agreement.
	 
	8.5	 	While being entitled to enforce the security interest created hereunder in accordance
with Clause 8.1 above the Collateral Agent may request the Transferor to sell the Collateral
for and on its behalf and the Transferor shall promptly comply with such request.
	 
	8.6	 	If the Collateral Agent sells the Collateral pursuant to this Clause 8 it may take all
measures and enter into all agreements which it commercially reasonably considers to be
expedient in connection therewith.
	 
	8.7	 	Notwithstanding sub-Clause 8.4, the Collateral Agent may, following the occurrence of
an Enforcement Event and whilst it is continuing, in its sole discretion, determine which of
several security interests (created under this or other security agreements) shall be used to
satisfy the Obligations.

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	8.8	 	Given the non-accessory nature of this security, the Transferor has no defences of
revocation and set-off and no defences based on defences any Grantor might have against the
Obligations. The Collateral Agent is not required to proceed against or enforce any other
rights or security before enforcing the security created hereunder.
	 
	8.9	 	The Transferor shall not at any time before, on or after an enforcement of the security
created hereunder and as a result of the Transferor entering into this Agreement, be entitled
to demand indemnification or compensation from any other Grantor or to assign any of these
claims.

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	9.	 	SWISS LIMITATIONS
	 
	9.1	 	Proceeds of a realisation of the Collateral shall only be applied towards satisfaction of
the Obligations in relation to obligations of any Grantor (other than obligations under the
Credit Documents of (i) the Transferor (v) incurred as Borrower under the Credit Agreement,
(w) incurred as borrower under a Local Facility Agreement, (x) incurred as a party to and
beneficiary under any hedging agreement entered into with an Hedge Counterparty, (y) owed as
cash management obligations to a Cash Management Bank for Cash Management Services, provided
the Transferor is a beneficiary of the Cash Management Services causing such cash management
obligations or (z) to the extent certain proceeds of the Senior Secured Notes Indenture have
been made available to the Transferor, up to such proceeds and (ii) a Transferor’s Subsidiary
(v) incurred as Borrower under the Credit Agreement, (w) incurred as borrower under a Local
Facility Agreement, (x) incurred as a party to and beneficiary under any hedging agreement
entered into with an Hedge Counterparty (y) owed as cash management obligations to a Cash
Management Bank for Cash Management Services, provided the Transferor’s Subsidiary is a
beneficiary of the Cash Management Services causing such cash management obligations or (z) to
the extent certain proceeds of the Senior Secured Notes Indenture have been made available to
the Transferor’s Subsidiary, up to such proceeds) to the extent application of the proceeds of
a realisation of the Collateral towards such obligations does not constitute a repayment of
capital (Einlagerueckgewaehr), a violation of the legally protected reserves (gesetzlich
geschuetzte Reserven) or a payment of a (constructive) dividend prohibited by the Swiss
Federal Code of Obligations by the Transferor and in the maximum amount of the Transferor’s
profits available for the distribution of dividends at the point in time the Collateral is
realised (being the balance sheet profits and any free reserves made for this purpose, in each
case in accordance with the relevant Swiss law) (the “Available Enforcement Proceeds”). Any
proceeds of an enforcement in excess of the Available Enforcement Proceeds as well as the Tax
Payment Amount (as defined below) which shall be deducted from the Available Enforcement
Proceeds shall be returned to the Transferor;
	 
	9.2	 	for such application of the Available Enforcement Proceeds towards satisfaction of the
Obligations the Transferor shall procure to pass a shareholders’ resolutions for the
distribution of dividends in accordance with the relevant provisions of the Swiss Federal Code
of Obligations being in force at that time (currently the profits available for the
distribution of dividends as described above must be determined based on an audited balance
sheet and such shareholders’ resolution must be based on the report from the Transferor’s
auditors approving the proposed distribution of dividends); and
	 
	9.3	 	deduct from the Available Enforcement Proceeds Swiss Anticipatory Tax (withholding tax)
at the rate of 35% (or such other rate as in force from time to time) and subject to any
applicable double taxation treaty and/or agreements entered into with the Swiss Federal Tax
administration (the “Tax Payment Amount”):

	 	(a)	 	pay the Tax Payment Amount to the Swiss Federal Tax Administration; and

	 	(b)	 	give evidence to the respective beneficiary or beneficiaries (as the same
may be) of such deduction of the Tax Payment Amount in accordance with Clause

- 13 -

 

	 	 	 	2.20
(Taxes) of the Credit Agreement and Clause 4.15 (Witholding Taxes) of the Senior
Secured Note Indenture.

	 	 	But if such a deduction is made, the Transferor shall not be obliged to gross-up pursuant to
Clause 2.20 (Taxes) of the Credit Agreement or Clause 4.15 (Witholding taxes) of the Senior
Secured Notes Indenture to the extent that such gross-up would result in the aggregate of
the amounts of the proceeds of a realisation of the Collateral applied by the beneficiary or
beneficiaries (as the same may be) towards satisfaction of the Obligations and the Tax
Payment Amount paid to the Swiss Federal Tax administration exceeding the maximum amount of
its profits available for the distribution of dividends.
	 
	10.	 	REPRESENTATIONS AND WARRANTIES
	 
	 	 	The Transferor hereby represents and warrants to the Collateral Agent by way of an
independent guarantee (selbständiges Garantieversprechen) that Schedule 2 hereof contains
all Collateral of the Transferor registered or applied for registration in Germany as
determined by the Transferor to be key to the aseptic filling or packaging business. The
details set out in Schedule 2 hereof are correct and complete in all material respects in
relation to such Collateral as of the date hereof.
	 
	11.	 	UNDERTAKINGS
	 
	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Transferor undertakes to the Collateral Agent:
	 
	11.1	 	to inform the Collateral Agent in writing promptly of any attachments (Pfändung) of which
it becomes aware in respect of any and all of the Collateral. In the event of an attachment,
the Transferor undertakes to forward to the Collateral Agent without undue delay a copy of the
attachment order (Pfändungsbeschluss), the garnishee order (Überweisungsbeschluss) and all
other documents necessary for a defence against the attachment. The Transferor shall inform
the attaching creditor without undue delay about the Collateral Agent’s security interests;
	 
	11.2	 	not to dispute the validity of the Collateral or of new applications for registration
with regard to the Collateral;
	 
	11.3	 	if failure to do the following would have a material adverse effect, to make all
statements and take all actions at its own expense which are reasonably required in order to
maintain the registration of the Collateral in the ordinary course of business, including the
payment of renewal fees, and have the Collateral registered if not registered so far and
necessary to maintain the legal title therein and to deliver to the Collateral Agent at its
reasonable request copies of the respective documents evidencing such actions;
	 
	11.4	 	to inform the Collateral Agent without undue delay if third parties materially dispute or
challenge the validity of any of the Collateral or materially allege that any of the
Collateral violates the rights of third parties, and assert all claims and to litigate if this
is required for the defence against such claims. Following the occurrence of an Enforcement
Event and whilst it is continuing, the Transferor agrees that the

- 14 -

 

	 	 	Collateral Agent may take
over any judicial or extra judicial proceedings upon reasonable request and at the
Transferor’s expense; and

	11.5	 	to inform the Collateral Agent without undue delay, if third parties infringe any of the
Collateral in a way which would have a material adverse effect on the Collateral Agent’s
and/or the Secured Parties’ rights relating to the Collateral. The Transferor shall, acting
commercially reasonably and considering the legitimate interest of the Collateral Agent and
the Secured Parties, prosecute such infringement in its own name and at its own expense. All
compensation claims becoming due after the date hereof become part of the Collateral.
Following the occurrence of an Enforcement Event and whilst it is continuing the Collateral
Agent and/or the Secured Parties may take over any judicial or extra judicial proceedings upon
request and at the Transferor’s expense.
	 
	12.	 	BOOKKEEPING AND DATA-PROCESSING
	 
	12.1	 	If proof, documents or data which are necessary to identify the Collateral have been
handed over by the Transferor to a third party (in particular a bookkeeping firm or a tax
consultant) or are managed by a third party the Transferor hereby assigns to the Collateral
Agent, who hereby accepts such assignment, its right to demand from such third party the
return of the proof and documents and the right to obtain information as to the registration
details of the Collateral. The Collateral Agent will only make use of such right if an
Enforcement Event has occurred and is continuing. Upon the occurrence of an Enforcement Event
and whilst it is continuing, the Transferor hereby undertakes to instruct the third party to
provide the Collateral Agent upon its demand with such information and documents which are
necessary to perfect and/or enforce the security created hereby.
	 
	12.2	 	If details concerning the Collateral or any part thereof have been stored in an
electronic data-processing system, then, if an Enforcement Event has occurred and is
continuing, the Transferor shall allow the Collateral Agent access to the computer, including
the peripheral equipment and all data concerning the Collateral or such part thereof.
Moreover, software operators shall be made available insofar as so required, and any
assistance required shall be provided to the Collateral Agent. If a third party handles the
electronic processing of data, the Transferor hereby assigns to the extent legally possible to
the Collateral Agent, who hereby accepts such assignment, all rights against such third party
relating to these services, and instructs such third party to handle the processing of data
for the Collateral Agent upon its demand as it did for the Transferor. The Collateral Agent
shall only make use of such rights if an Enforcement Event has occurred and is continuing
	 
	12.3	 	At all times other than during the continuation of an Enforcement Event, the Collateral
Agent authorises the Transferor to exercise the rights assigned to the Collateral Agent
pursuant to Clause 12.1 and Clause 12.2 above.
	 
	13.	 	FURTHER ASSURANCE
	 
	 	 	Insofar as additional declarations or actions are necessary for the transfer of title of any
part of the Collateral the Transferor shall subject to the terms of the Principal Finance
Documents, at the Collateral Agent’s request, acting reasonably, make such declarations or
undertake such actions; it being understood that the Collateral Agent

- 15 -

 

	 	 	may only demand
registration of the transfer of title if an Enforcement Event has occurred and is
continuing, unless the registration is necessary to perfect the assignment and transfer of
the Collateral, in which case the Collateral Agent is entitled to be registered before the
occurrence of an Enforcement Event which is continuing.
	 
	14.	 	DELEGATION
	 
	 	 	The Collateral Agent shall have full power to delegate (either generally or specifically)
the powers, authorities and discretions conferred on it by this Agreement on such terms and
conditions as it shall see fit. The Collateral Agent shall only remain liable for diligently
selecting and providing initial instructions to such delegate.
	 
	15.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Transferor
shall, notwithstanding any release or discharge of all or any part of the security,
indemnify the Collateral Agent, its agents, its attorneys and any delegate against any
action, proceeding, claims, losses, liabilities, damages, expenses, demands, taxes, losses
and costs which it may sustain as a consequence of any breach by the Transferor of the
provisions of this Agreement, the exercise or purported exercise of any of the rights and
powers conferred on them by this Agreement or otherwise relating to the Collateral.
	 
	16.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Collateral
Agent, its nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any
action permitted by this Agreement or (b) any neglect or default in connection with the
assets and rights subject to the security interest created hereunder, save in respect of any
loss or damage which is suffered as a result of wilful misconduct (Vorsatz) or gross
negligence (grobe Fahrlässigkeit) by the Collateral Agent, its nominee(s) or agent(s) or
delegate(s), or (c) the enforcement or realisation of all or any part of the security
interest created hereunder.
	 
	17.	 	DURATION AND INDEPENDENCE
	 
	17.1	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement relating to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations,
which are imposed on the Transferor pursuant to it.
	 
	17.2	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Secured Parties or the Collateral Agent. None of such other security
shall prejudice, or shall be prejudiced by, or shall be merged in any way with, this
Agreement.
	 
	17.3	 	Waiving Section 418 of the German Civil Code (applied by analogy), the Transferor hereby
agrees that the security created hereunder shall not be affected by any transfer or assumption
of the Obligations to, or by, any third party.

- 16 -

 

	18.	 	RELEASE (SICHERHEITENFREIGABE)
	 
	18.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practicable at the cost and expense of the Transferor retransfer and re-assign the
Collateral and all other rights and claims assigned or transferred to it pursuant to this
Agreement to the Transferor and surrender the excess proceeds, if any, resulting from any sale
of the Collateral. The Collateral Agent will, however, transfer any of the Collateral to a
third person if so required by law.
	 
	18.2	 	At any time when the total value of the aggregate security granted by the Transferor and
the other Grantors to secure the Obligations (the “Security”) which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert) exceeds 110% of
the Obligations (the “Limit”), the Collateral Agent shall on demand of the Transferor release
such part of the Security (Sicherheitenfreigabe) as the Collateral Agent may in its reasonable
discretion (as instructed in accordance with the First Lien Intercreditor Agreement) determine
so as to reduce the realisable value of the Security to the Limit.
	 
	18.3	 	The Collateral Agent (as instructed in accordance with the First Lien Intercreditor
Agreement) will as soon as reasonably practicable declare in writing the release of the
security created hereunder and retransfer and reassign the Collateral to the Transferor in
accordance with, and to the extent required by, the Intercreditor Arrangements.
	 
	19.	 	PARTIAL INVALIDITY, WAIVER
	 
	19.1	 	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 in with such provision as comes as close as possible to the original
intent of the parties.
	 
	19.2	 	No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent,
any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any right or remedy prevent any further or other exercise thereof or the
exercise of any other right or remedy. The rights and remedies provided hereunder are
cumulative and not exclusive of any rights or remedies provided by law.
	 
	20.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 20 shall be made in
writing.

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	21.	 	NOTICES AND THEIR LANGUAGE
	 
	21.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 

	For the Transferor:

	 	SIG Finanz AG	 	 
	 
	 	 	 	 
	 

	 	Address:
	 	Laufengasse 18, CH-8212 
Neuhausen am
Rheinfall,

Switzerland
	 

	 	Fax:
	 	+41 52 674 65 74
	 
	 	 	 	 
	 

	 	Attention
	 	Head of legal corporate
	 
	 	 	 	 
	with a copy to:
	 	 	 	 
	 
	 	 	 	 
	 

	 	Address:
	 	c/o Rank Group Limited

Level 9

148 Quay Street

PO Box 3515

Auckland 1140

New Zealand
	 
	 	 	 	 
	 

	 	Telephone:
	 	+649 3666 259
	 
	 	 	 	 
	 

	 	Fax:
	 	+649 3666 263
	 
	 	 	 	 
	 

	 	Attention:
	 	Helen Golding
	 
	 	 	 	 
	For the Collateral
Agent:

	 	The Bank of New
York Mellon
	 
	 

	 	Address:
	 	101 Barclay Street, 4E
	 

	 	 	 	New York, N.Y. 10286
	 

	 	 	 	The United States of America
	 
	 	 	 	 
	 

	 	Telephone:
	 	+212 298 1528
	 
	 	 	 	 
	 

	 	Fax:
	 	+218 815 5366
	 
	 	 	 	 
	 

	 	Attention:
	 	International Corporate Trust

	21.2	 	Any party hereto may change its address or fax number for notices and other
communications hereunder by notice to the other parties hereto. As agreed to in writing in
accordance with the First Lien Intercreditor Agreement, notices and other communications
hereunder may also be delivered by e-mail to the e-mail address of a

- 18 -

 

	 	 	representative of the
applicable party to this Agreement provided from time to time by such party.
	 
	21.3	 	All notices and other communications given to any party in connection with this Agreement
in accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by fax or on the date
five business days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Clause 21 or
in accordance with the latest unrevoked direction from such party given in accordance with
this Clause 21.
	 
	21.4	 	Any notice or other communication under or in connection with this Agreement shall be in
the English language or, if in any other language, accompanied by a translation into English.
In the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	22.	 	APPLICABLE LAW, JURISDICTION
	 
	22.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	22.2	 	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 however, shall also be entitled to take action against the Transferor in any other court
of competent jurisdiction. Further, the taking of proceedings against the Transferor 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.
	 
	23.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	23.1	 	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.
	 
	23.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to
sub-Clause 23.1 above, they will transmit the signed signature page(s) of this Agreement to
the attention of Mr. Philipp Kropatscheck or Ms Corinna May
(Philipp.Kropatschek@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).
	 
	23.3	 	For the purposes of this Clause 23 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, each Recipient will have no

- 19 -

 

	 	 	further duties connected
with its position as Recipient. In particular, each Recipient 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.

- 20 -

 

SCHEDULE 1

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

PART 1 — THE CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holding 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 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)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

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)

- 21 -

 

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 Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

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)

BACO Consumer Products Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

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)

Closure Systems International B.V. (The Netherlands)

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

Closure Systems International Holdings Inc. (Delaware, USA)

- 22 -

 

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 — LIST OF CURRENT SENIOR SECURED NOTE GUARANTORS

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)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

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)

- 23 -

 

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 Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

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)

BACO Consumer Products Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

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)

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)

- 24 -

 

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)

- 25 -

 

SCHEDULE 2

LIST OF PATENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Country	 	 	Title	 	Appl.-No.	 	 	Publ.-No.	 	 	Reg.-Nr.	 
	DE	 	Ausgiesstülle
	 	 	02777317.5	 	 	 	1436209	 	 	DE 602 20 530
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	(EP 1436209)

- 26 -

 

SCHEDULE 3

ÜBERTRAGUNGSERKLÄRUNG

(DECLARATION OF ASSIGNMENT)

Die unterzeichnende Firma

The undersigning company

SIG Finanz AG

überträgt hiermit mit allen Rechten und Pflichten die in den Anlagen hierzu aufgelisteten Patente
(sowie der Anmeldungen) (die “Schutzrechte”)

herewith assigns and transfers with all rights and duties relating to the patents (including any
applications) listed in the schedules hereto (the “IP Rights”)

auf/to

The Bank of New York Mellon

101 Barclay Street, 4E

New York, N.Y. 10286

The United States of America

und erklärt sich gleichzeitig mit der Umschreibung der Schutzrechte auf die Erwerberin
einverstanden.

and agrees that the assignment of the IP Rights is recorded in the Patent Office.

Ort/Datum:

Place/Date:

Unterschrift/Signature:

Anhang (Liste der Patente nebst Anmeldungen)

- 27 -

 

SIGNATURE PAGE

This SECURITY TRANSFER AND ASSIGNMENT AGREEMENT has been entered into on the date stated at the
beginning by:

SIG FINANZ AG

as Transferor

	 	 	 	 	 	 	 	 
	By: 	/s/ Mark Dunkley	 	By: 	  /s/    Philip West
	 	 	 	 	 	 
	 	Name: 	 MARK DUNKLEY	 	 	Name: 	    PHILIP WEST
	 	Title:	 ATTORNEY	 	 	Title:	   ATTORNEY

	 	 	 	 	 	 	 	 
	 
	THE BANK OF NEW YORK MELLON	 	 	 	 
	as Collateral Agent	 	 	 	 
	 
	By: 	/s/  Maksim Genkin	 	By: 	  /s/   Lesley Daley
	 	 	 	 	 	 
	 	Name: 	 MAKSIM GENKIN	 	 	Name: 	    LESLEY DALEY
	 	Title:	 ASSISTANT TREASURER	 	 	Title:	    ASSISTANT VICE PRESIDENT

Acknowledged and agreed (including but not limited to the provisions of Clause 3.5)

	 	 	 	 	 	 	 	 

	 
	SIG ALLCAP AG	 	 	 	 
	 
	By: 	/s/  Mark Dunkley	 	By: 	  /s/   Philip West
	 	 	 	 	 	 
	 	Name: 	 MARK DUNKLEY	 	 	Name: 	    PHILIP WEST
	 	Title:	 ATTORNEY	 	 	Title:	   ATTORNEY

 - 28 -

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