Document:

exv4w339

EXHIBIT 4.339

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 1 FEBRUARY 2011

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

AND

THE BANK OF NEW YORK MELLON

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

 

 

THIS DEED is made the 1st day of February 2011

BETWEEN:

	(1)	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L, a société à responsabilité limitée
incorporated under Luxembourg law with registered office at 6C, rue Gabriel Lippmann, L-5365
Munsbach, Grand-duchy of Luxembourg registered with the Luxembourg register of commerce and
companies under the number B128.135 and having a share capital of EUR 404,969,325. (the
“Assignor”); 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”)

WHEREAS:

	(A)	 	The Assignor has entered into the security assignment of contractual rights under a specific
contract dated 2 December 2009 and as subsequently amended by a deed of confirmation and
amendment dated 16 November 2010 granted by Beverage Packaging Holdings (Luxembourg) III S.à
r.l in favour of the Collateral Agent (the “Security Assignment”) pursuant to (i) a credit
agreement dated as of 5 November 2009 (as subsequently amended) between among others Reynolds
Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International
Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Reynolds Group
Holdings Limited, Closure Systems International BV, Pactiv Corporation, the other borrowers
party thereto, the lenders from time to time parties thereto, and Credit Suisse AG as
administrative agent (the “Credit Agreement”), (ii) an indenture dated 5 November 2009 between
Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and collateral agent, as modified, amended or
supplemented from time to time (the “2009 Senior Secured Notes Indenture”) and (iii) an
indenture dated 15 October 2010 and entered into between, among others, RGHL US Escrow I Inc.,
RGHL US Escrow I LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and The Bank of New York
Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as additional collateral agent (the “2010 Senior Secured
Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture and the 2010
Senior Secured Notes Indenture certain parties to those documents have entered into a first
lien intercreditor agreement dated 5 November 2009 (as subsequently amended) between among
others The Bank of New York Mellon as collateral agent and representative under the indenture,
Credit Suisse AG as representative under the credit agreement, Wilmington Trust (London)
Limited as an additional collateral agent and each grantor that are parties thereto (the
“First Lien Intercreditor Agreement”).
	 
	(C)	 	Pursuant to an indenture (the “February 2011 Senior Secured Notes Indenture”) dated 1
February 2011 and entered into between, among others, the Issuers (as defined therein) (the
“Issuers”) and The Bank of New York Mellon, as trustee, principal paying agent, transfer
agent, registrar and collateral agent and Wilmington Trust

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	 	 	(London) Limited as additional collateral agent, certain secured notes (the “February 2011
Senior Secured Notes”) were issued by the Issuers.
	 
	(D)	 	The obligations in respect of the February 2011 Senior Secured Notes and any Senior Secured
Note Documents (as defined therein) will or have been designated as “Additional Obligations”
under, and in accordance with, section 5.02(c) of the First Lien Intercreditor Agreement (the
“Secured Notes Designation”).
	 
	(E)	 	As a consequence of the execution of the February 2011 Senior Secured Notes Indenture it is
necessary for the Assignor to make certain minor amendments to the Security Assignment, and
enter into this Deed.

NOW THE PARTIES HEREBY AGREE:

	1.	 	In this Deed (including its recitals), unless otherwise defined herein terms defined in the
First Lien Intercreditor Agreement shall have the same meaning when used in this Deed.
	 
	2.	 	With effect from the date of this Deed, the Security Assignment shall be amended as follows:

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “February 2011
Issuers” shall be inserted in alphabetical order:
	 
	 	 	 	““February 2011 Issuers” means the “Issuers” under, and as defined in, the February
2011 Senior Secured Notes Indenture, including their successors in interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “February 2011 Senior
Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““February 2011 Senior Secured Notes Indenture” means the indenture dated 1 February
2011 among the February 2011 Issuers and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as additional collateral agent, as amended,
extended, restructured, renewed, refunded, novated, supplemented, restated, replaced
or modified from time to time.”
	 
	 	(c)	 	In Clause 1.1 (Definitions) the existing definition of “Agreed Security
Principles” shall be deleted and replaced by the following:
	 
	 	 	 	““Agreed Security Principles” has the meaning it is given in the Credit Agreement
and the 2009 Senior Secured Notes Indenture and to the extent of any inconsistency
the meaning it is given in the Credit Agreement shall prevail.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement” shall
be deleted and replaced by the following:
	 
	 	 	 	““Credit Agreement” means the Credit Agreement dated 5 November 2009 among Reynolds
Group Holdings Inc., Reynolds Consumer Products Holdings

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	 	 	 	Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.,
Closure Systems International B.V., Pactiv Corporation and SIG Austria Holding GmbH
as borrowers, Reynolds Group Holdings Limited, the lenders from time to time party
thereto and Credit Suisse AG (formally known as Credit Suisse) as administrative
agent, as amended by amendment agreements dated 21 January 2010, 4 May 2010 and 30
September 2010 and as further amended, extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or modified from time to time.”
	 
	 	(e)	 	In Clause 1.1 (Definitions) the existing definition of “First Lien
Intercreditor Agreement” shall be deleted and replaced by the following:
	 
	 	 	 	“First Lien Intercreditor Agreement” mean the First Lien Intercreditor Agreement
dated 5 November 2009 between, among others, the Collateral Agent, The Bank of New
York Mellon, as trustee under the 2009 Senior Secured Notes Indenture, the 2010
Senior Secured Notes Indenture and the February 2011 Senior Secured Notes Indenture,
Credit Suisse AG (formally known as Credit Suisse) as administrative agent under the
Credit Agreement, and the Loan Parties, as further amended, novated, supplemented,
restated or modified from time to time.”
	 
	 	(f)	 	In Clause 1.1 (Definitions) the existing definition of “Principal Finance
Documents” shall be deleted and replaced by the following:
	 
	 	 	 	““Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured
Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior
Secured Notes Indenture, the Intercreditor Arrangements and any Additional
Agreement.”
	 
	 	(g)	 	Clause 7(b) (Further Advances) shall be deleted in its entirety and replaced with
the following:
	 
	 	 	 	“7(b)(i) Subject to the terms of the Loan Documents, each 2009 Issuer may issue
Additional Notes (as defined in the 2009 Senior Secured Notes Indenture) and the
obligations in respect if such Additional Notes will be deemed to be
incorporated into this Agreement as if set out in this Agreement.
	 
	 	 	 	(ii) Subject to the terms of the Loan Documents, each 2010 Issuer may issue
Additional Notes (as defined in the 2010 Senior Secured Notes Indenture) and the
obligations in respect of such Additional Notes will be deemed to be incorporated
into this Agreement as if set out in this Agreement.
	 
	 	 	 	(iii) Subject to the terms of the Loan Documents, each February 2011 Issuer may
issue Additional Notes (as defined in the February 2011 Senior Secured Notes
Indenture) and the obligations in respect of such Additional Notes will be deemed to
be incorporated into this Agreement as if set out in this Agreement.”

	3.	 	The Assignor confirms that, with effect from the date of this Deed, the Security Assignment
shall continue in full force and effect as amended by this Deed and

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	 	 	extends to the obligations in respect of the new Additional Agreements (as defined in the
First Lien Intercreditor Agreement) as a result of the Secured Notes Designation.
	 
	4.	 	The Assignor hereby represents that it has not registered one or more “establishments” (as
that term is defined in regulation 2 of Part 1 of The Overseas Companies Regulations 2009)
with the Registrar of Companies or, if it has so registered, it has provided to the Applicable
Representative and the Collateral Agent sufficient details to enable an accurate search
against it to be undertaken by the Secured Parties at the Companies Registry.
	 
	5.	 	This Deed is supplemental to and shall be construed as one with the Security Assignment and
all documents or instruments which are expressed to supplement the Security Assignment shall
be construed accordingly.
	 
	6.	 	This Deed may be executed in two or more counterparts each of which shall be deemed an
original but which together shall constitute one and the same instrument.
	 
	7.	 	This Deed and any non-contractual obligations arising out of or in connection with it shall
be governed by and construed in accordance with English law.
	 
	8.	 	The courts of England have exclusive jurisdiction to settle any dispute (a “Dispute”) arising
out of, or connected with this Deed (including a dispute regarding the existence, validity or
termination of this Deed or the consequences of its nullity) or any non-contractual
obligations arising out of or in connection with this Deed.
	 
	9.	 	The parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes between them and, accordingly, that they will not argue to the contrary.
	 
	10.	 	Clauses 8 to 10 (inclusive) of this Deed are for the benefit of the Collateral Agent only. As
a result and notwithstanding Clause 8, it does not prevent the Collateral Agent from taking
proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed
by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions.

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IN WITNESS whereof this Deed has been duly executed as a deed by the Assignor and understood by the
Collateral Agent on the day and year first before written.

	 	 	 	 	 	 	 

	The Assignor
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Signed as a deed by

	 	 	)	 	 	 
	Karen Mower

	 	 	)	 	 	 
	 
	 	 	 	 	 	 
	as attorney for

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

	 	 	)	 	 	/s/ Karen Mower
	 
	 	 	 	 	 	 
	The Collateral Agent
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Signed by

	 	 	)	 	 	 
	THE BANK OF NEW YORK MELLON

	 	 	)	 	 	 

	 	 	 	 	 
	 	 	 
	By:  	/s/ Catherine F. Donohue
 	 	 
	 	Name:  	Catherine F. Donohue 	 	 

	 	 	 

	Address:

	 	The Bank of New York Mellon
	 

	 	101 Barclay Street, Floor 4E, New York, NY 10286, USA
	 
	 	 
	Fax:

	 	+1 212 815 5366
	 
	 	 
	Attention:

	 	International Corporate Trust

-5-exv4w340

EXHIBIT 4.340

DEED OF RELEASE

THIS DEED OF RELEASE is made on the 1 February 2011

BY:

	(1)	 	THE BANK OF NEW YORK MELLON, in its capacity as collateral agent as appointed under the First
Lien Intercreditor Agreement (the “Collateral Agent”)

In favour of

	(2)	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L, a société à responsabilité limitée
incorporated under Luxembourg law with registered office at 6C, rue Gabriel Lippmann, L-5365
Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and
companies under number B128.135 and having a share capital of EUR 404,969,325 (the “Company”).

WHEREAS

	(A)	 	By a security assignment of receivables under a specific contract dated 10 March 2010 made
between Closure Systems International (Luxembourg) S.à r.l. (“CSI Lux”) and the Collateral
Agent (as subsequently amended) (the “Security Assignment”), CSI Lux granted security for the
payment and discharge of the Secured Liabilities (as defined in the Security Assignment) over
the Assigned Property (as defined in the Security Assignment) in favour of the Collateral
Agent.
	 
	(B)	 	Pursuant to a merger effective as of 21 December 2010, the Company has absorbed CSI Lux (the
“Merger”). As a result of the Merger, all the rights, obligations and liabilities of CSI Lux
under the Security Assignment have been transferred to the Company by way of universal
succession in accordance with article 259 of the Luxembourg law dated 10 August 1915 as
amended.
	 
	(C)	 	The Company has now requested that the Collateral Agent release the Assigned Property (as
defined in the Security Assignment) from the security created by or pursuant to the Security
Assignment, which the Collateral Agent has agreed to do upon the terms and conditions of this
deed.
	 
	(D)	 	This deed is supplemental to the Security Assignment.

IT IS AGREED as follows:

	1.	 	Terms defined in the Security Assignment shall have the same meaning in this deed.

 

 

	2.	 	The Collateral Agent without recourse, representation or warranty of title, irrevocably and
unconditionally releases, reassigns, retransfers and cancels all of its rights, title and
interest, present and future, in, under and to the Contract, together with, without
limitation, all present and future claims, causes of action, payments and proceeds in respect
thereof that have been assigned to it by the Company under the Security Assignment and
discharges the Company from all of its obligations under the Security Assignment in respect of
the Assigned Property.
	 
	3.	 	The Assigned Property shall be held freed and discharged from the security created by, and
all claims arising under, the Security Assignment.
	 
	4.	 	The Collateral Agent agrees that it will (at the cost and expense of the Company) do all
things and execute all documents as the Company may reasonably require to give effect to this
release.
	 
	5.	 	This deed and any non-contractual obligations arising out of or in connection with it are
governed by English law.

IN WITNESS WHEREOF this deed has been executed by the Collateral Agent and is intended to be
and is hereby delivered on the date specified above.

	 	 	 	 	 	 	 

	The Collateral Agent
	 	 	 	 	 	 
	 
	Signed as a deed by

	 	) 	 	 	 	 
	 

	 	) 	 	 	 	 
	as attorney for

	 	) 	 	 	 	 
	The Bank of New York Mellon

	 	) 	 	 	 	 
	in the presence of:

	 	) /s/ Catherine F. Donohue

	 	 	 	 	 
	Signature of witness:
	 	/s/ Julia Keppe	 	 
	 
	 	 

	 	 
	Name of witness:
	 	Julia Keppe	 	 
	 
	 	 	 	 
	Address of witness:
	 	Debevoise & Plimpton LLP, Tower 42, EC2N 1HQ	 	 
	 
	 	 	 	 
	Occupation of witness:
	 	Solicitor	 	 

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