Document:

exv4w475

EXHIBIT 4.475

DATED 8 SEPTEMBER 2011

SIG COMBIBLOC GROUP AG

AND

WILMINGTON TRUST (LONDON) LIMITED

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

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

 

 

THIS DEED is made the 8th day of September 2011

BETWEEN:

	(1)	 	SIG COMBIBLOC GROUP AG, 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-290.3.004.149-2 (the “Chargor”); and
	 
	(2)	 	WILMINGTON TRUST (LONDON) LIMITED in its capacity as additional collateral agent for
the Secured Parties appointed under the First Lien Intercreditor Agreement (the “Collateral
Agent”).

WHEREAS:

	(A)	 	Pursuant to a merger between the Chargor and SIG Finanz AG, which became effective on
15 June 2010, the Chargor assumed by operation of law all of the obligations, rights and
liabilities of SIG Finanz AG under the security over shares agreement dated 25 February 2010
and as subsequently amended by way of a deed of confirmation and amendment dated 16 November
2010 and further amended by a deed of confirmation and amendment dated 1 February 2011,
originally granted by SIG Finanz AG in favour of the Collateral Agent (the “Share Charge”)
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, registrar and
collateral agent, as modified, amended or supplemented from time to time (the “2009 Senior
Secured Notes Indenture”), (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, as modified, amended, or supplemented from time to time (the “2010 Senior Secured Notes
Indenture”) and (iv) an indenture dated 1 February 2011 and entered into between, among
others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer
(Luxembourg) 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, as modified, amended, or supplemented from time to time (the
“February 2011 Senior Secured Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture, the
2010 Senior Secured Notes Indenture and the February 2011 Senior Secured Notes Indenture,
certain parties to those documents have entered into a first lien intercreditor agreement
dated 5 November 2009 (as subsequently amended pursuant to Amendment

- 1 -

 

	 	 	No. 1 and Joinder
Agreement dated as of January 21, 2010) 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)	 	The parties to the Credit Agreement have entered into an amendment agreement dated 9
August 2011 to amend and restate the terms of the Credit Agreement (“Amendment No. 6”).
	 
	(D)	 	Pursuant to an indenture (the “August 2011 Senior Secured Notes Indenture”) dated as
of 9 August 2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US
Escrow II LLC (collectively, the “August 2011 Escrow 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, certain secured notes (the
“August 2011 Senior Secured Notes”) were issued by the August 2011 Escrow Issuers. On or
about the date of this agreement, the August 2011 Senior Secured Notes shall be released from
escrow, RGHL US Escrow II Inc. and RGHL US Escrow II LLC shall be merged with and into
Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC (together with Reynolds Group Issuer
(Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the obligations of
the August 2011 Escrow Issuers shall be assumed by the August 2011 Ultimate Issuers pursuant
to one or more supplemental indentures between, among others, the August 2011 Escrow Issuers,
the August 2011 Ultimate Issuers, 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.
	 
	(E)	 	The obligations in respect of the August 2011 Senior Secured Notes and any Senior
Secured Note Documents (as defined in the August 2011 Senior Secured Notes Indenture) will be
or have been designated as “Additional Obligations” under, and in accordance with, section
5.02(c) of the First Lien Intercreditor Agreement and the August 2011 Senior Secured Notes
Indenture and the Senior Secured Note Documents (as defined in the August 2011 Senior Secured
Notes Indenture) are therefore “Additional Agreements” under the First Lien Intercreditor
Agreement (the “Secured Notes Designation”).
	 
	(F)	 	As a consequence of the execution of the August 2011 Senior Secured Notes Indenture
it is necessary for the Chargor to make certain amendments to the Share Charge, 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 Share Charge shall be amended as follows:

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Issuers” shall be inserted in alphabetical order:

- 2 -

 

	 	 	 	““August 2011 Issuers” means the “Issuers” under, and as defined in, the August
2011 Senior Secured Notes Indenture, including their successors in interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Escrow Issuers” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL US Escrow II
LLC, including their successors in interest.”
	 
	 	(c)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Senior Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Senior Secured Notes Indenture” means the indenture dated 9 August
2011, among the August 2011 Escrow 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 and to which Reynolds Group Issuer Inc.,
Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxembourg) S.A. have or will
become a party as issuers by way of RGHL US Escrow II Inc. and RGHL US Escrow II
LLC merging with and into Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC,
respectively, and one or more supplemental indentures being entered into between,
among others, the August 2011 Escrow Issuers, Reynolds Group Issuer Inc., Reynolds
Group Issuer LLC, Reynolds Group Issuer (Luxembourg) S.A., 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.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement”
shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Credit Agreement” means the second amended and restated credit agreement dated 9
August 2011 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., 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 as administrative agent, 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 in its entirety and replaced with the
following:
	 
	 	 	 	““First Lien Intercreditor Agreement” means 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

- 3 -

 

	 	 	 	Secured Notes Indenture, the 2010
Senior Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture
and the August 2011 Senior Secured Notes Indenture, Credit Suisse AG, 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 in its entirety and replaced with 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 August 2011 Senior Secured Notes Indenture, the
Intercreditor Arrangements and any Additional Agreement.”
	 
	 	(g)	 	In Clause 1.1 (Definitions) the existing definition of “Secured Liabilities”
shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““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 in particular, but not limited to, the Parallel Obligations 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 documents evidencing or securing any such liabilities
provided always that the Chargor shall (A) only be liable under this Agreement or
any other Loan Document (including, for the avoidance of doubt, any restructuring
of the Chargor’s rights of set-off and/or subrogation and its duties to subordinate
claims) in relation to obligations (other than obligations under the Loan Documents
of (y) the Chargor (i) incurred as Borrower under the Credit Agreement, (ii)
incurred as borrower under any agreement pursuant to which a Local Facility (as
defined in the Credit Agreement) is made available, (iii) incurred as a party to
and beneficiary under any Hedging Agreement (as defined in the Credit Agreement),
(iv) owed as Cash Management Obligations, provided the Chargor is a beneficiary of
the Cash Management Services causing such Cash Management Obligations (all as
defined in the Credit Agreement), (v) incurred as a party to and beneficiary under
any Additional Agreement or (vi) to the extent certain proceeds of the 2009 Senior
Secured Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011
Senior Secured Notes Indenture or the August 2011 Senior Secured Notes Indenture
have been made available to the Chargor, up to such proceeds and (z) a direct or
indirect subsidiary of the Chargor (the “Chargor’s Subsidiary”) (i) incurred as
Borrower under the Credit Agreement, (ii) incurred as borrower under any agreement
pursuant to which a Local Facility (as defined in the Credit Agreement) is made
available, (iii) incurred as a party to and beneficiary under any Hedging Agreement
(as defined in the Credit Agreement), (iv) owed as Cash Management Obligations,
provided the

- 4 -

 

	 	 	 	Chargor’s Subsidiary is a beneficiary of the Cash Management Services
causing such Cash Management Obligations (all as defined in the Credit Agreement),
(v) incurred as a party to and beneficiary under any Additional Agreement or (vi)
to the extent certain proceeds of the 2009 Senior Secured Notes Indenture, the 2010
Senior Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture or
the August 2011 Senior Secured Notes Indenture have been made available to the
Chargor’s Subsidiary, up to such proceeds) to the extent such obligations do 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
Chargor and in the maximum amount of its profits available for the distribution of
dividends at the point in time the Chargor’s obligations fall due (being the
balance sheet profits and any free reserves made for this purpose, in each case in
accordance with the relevant Swiss law); (B) pass for such payments shareholder’s
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 a report from the Chargor’s auditors approving the
proposed distribution of dividends); and (C) deduct from such payments 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:

	 	(i)	 	pay such deduction to the Swiss Federal Tax Administration; and
	 
	 	(ii)	 	give evidence to the respective Secured Party beneficiary or Secured
Parties beneficiaries (as the case may be) of such deduction in accordance
with Section 2.20 (Taxes) of the Credit Agreement and Section 4.15
(Withholding Taxes) of the 2009 Senior Secured Notes Indenture, the 2010
Senior Secured Notes Indenture, the February 2011 Senior Secured Notes
Indenture or the August 2011 Senior Secured Notes Indenture;

	 	 	 	but if such a deduction is made, the Chargor shall not be obliged to gross-up
pursuant to Section 2.20 (Taxes) of the Credit Agreement and Section 4.15
(Withholding Taxes) of the 2009 Senior Secured Notes Indenture, the 2010 Senior
Secured Notes Indenture, the February 2011 Senior Secured Notes Indenture or the
August 2011 Senior Secured Notes Indenture to the extent that such gross-up would
result in the aggregate amounts paid to the Secured Parties beneficiaries and the
Swiss Federal Tax administration exceeding the maximum amount of its profits
available for the distribution of dividends.”

	 	(h)	 	Clause 2.2(b) (Further Advances) shall be deleted in its entirety and replaced
with the following:

	 	“2.2(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

- 5 -

 

	 	 	 	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.
	 
	 		 	(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.
	 
	 		 	(iv) Subject to the terms of the Loan Documents, each August 2011 Issuer
may issue Additional Notes (as defined in the August 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 Chargor confirms that, with effect from the date of this Deed, the Share Charge
shall continue in full force and effect as amended by this Deed and extends to the obligations
in respect of the Credit Agreement as amended by Amendment No. 6 and to the obligations in
respect of the Additional Agreements (as defined in the First Lien Intercreditor Agreement) as
a result of the Secured Notes Designation.
	 
	4.	 	This Deed is supplemental to and shall be construed as one with the Share Charge and
all documents or instruments which are expressed to supplement the Share Charge shall be
construed accordingly.
	 
	5.	 	This Deed may be executed in any number of counterparts, and by each party on separate
counterparts. Each counterpart is an original, but all counterparts shall together constitute
one and the same instrument. Delivery of a counterpart of this Deed by e-mail attachment or
telecopy shall be an effective mode of delivery.
	 
	6.	 	This Deed and all non-contractual obligations arising out of or in connection with it
shall be governed by and construed in accordance with Hong Kong law.
	 
	7.	 	For the avoidance of doubt, notwithstanding anything contained herein, each of the
protections, immunities, rights, indemnities and benefits conferred on the Collateral Agent
under the Share Charge and the First Lien Intercreditor Agreement shall continue in full force
and effect and shall apply to this Deed as if set out in full herein.
	 
	8.	 	The courts of Hong Kong 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.

- 6 -

 

	9.	 	The parties agree that the courts of Hong Kong 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.

- 7 -

 

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

The Chargor

	 	 	 	 	 	 	 	 	 	 	 

	SIGNED, SEALED and DELIVERED

	 	 	)	 	 	 	 	 	 	 
	as a DEED by Chiara Brophy

	 	 	 	 	 	 	)	 	 	 
	/s/ Chiara Brophy

	 	 	 	 	 	 	)	 	 	

	for and on behalf of

	 	 	 	 	 	 	)	 	 
	SIG COMBIBLOC GROUP AG

	 	 	 	 	 	 	)	 	 	 
	in the presence of:

	 	 	 	 	 	 	)	 	 	 

Signature of witness: /s/ Fiona Singh

Name of witness: Fiona Singh

Address of witness: Sydney, Australia

Occupation of witness: Lawyer

The Collateral Agent

	 	 	 	 	 	 	 

	Signed by

	 	 	)	 	 	 
	WILMINGTON TRUST (LONDON) LIMITED

	 	 	)	 	 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Paul Barton
 	 
	 

	 Name:	 	 Paul Barton

Relationship Manager
	 
	 Address:	 	 1 King’s Arms Yard

London EC2R 7AF

United Kingdom
	 
	 Fax: 	 	            +44 (0)20 7397 3601

	 
	 Attention:	 	 Elaine Lockhart/Paul Barton

- 8 -exv4w476

EXHIBIT 4.476

DATED  8 SEPTEMBER 2011

EVERGREEN PACKAGING (HONG KONG) LIMITED

AND

WILMINGTON TRUST (LONDON) LIMITED

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

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

 

 

THIS DEED is made the 8th day of September 2011

BETWEEN:

	(1)	 	EVERGREEN PACKAGING (HONG KONG) LIMITED registered in Hong Kong with company number
1112285 (the “Chargor”); and

	(2)	 	WILMINGTON TRUST (LONDON) LIMITED in its capacity as additional collateral agent for
the Secured Parties appointed under the First Lien Intercreditor Agreement (the “Collateral
Agent”)

WHEREAS:

	(A)	 	The Chargor has entered into the debenture dated 4 May 2010 and as subsequently
amended by way of a deed of confirmation and amendment dated 16 November 2010 and further
amended by a deed of confirmation and amendment dated 1 February 2011, granted by the Chargor
in favour of the Collateral Agent (the “Debenture”) 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, registrar and collateral agent, as modified, amended or
supplemented from time to time (the “2009 Senior Secured Notes Indenture”), (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, as modified, amended, or supplemented
from time to time (the “2010 Senior Secured Notes Indenture”) and (iv) an indenture dated 1
February 2011 and entered into between, among others, Reynolds Group Issuer LLC, Reynolds
Group Issuer Inc., Reynolds Group Issuer (Luxembourg) 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, as modified, amended, or supplemented
from time to time (the “February 2011 Senior Secured Notes Indenture”).

	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture, the
2010 Senior Secured Notes Indenture and the February 2011 Senior Secured Notes Indenture,
certain parties to those documents have entered into a first lien intercreditor agreement
dated 5 November 2009 (as subsequently amended pursuant to Amendment No. 1 and Joinder
Agreement dated as of January 21, 2010) 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”).

- 1 -

 

	(C)	 	The parties to the Credit Agreement have entered into an amendment agreement dated 9
August 2011 to amend and restate the terms of the Credit Agreement (“Amendment No. 6”).

	(D)	 	Pursuant to an indenture (the “August 2011 Senior Secured Notes Indenture”) dated as
of 9 August 2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US
Escrow II LLC (collectively, the “August 2011 Escrow 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, certain secured notes (the
“August 2011 Senior Secured Notes”) were issued by the August 2011 Escrow Issuers. On or
about the date of this agreement, the August 2011 Senior Secured Notes shall be released from
escrow, RGHL US Escrow II Inc. and RGHL US Escrow II LLC shall be merged with and into
Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC (together with Reynolds Group Issuer
(Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the obligations of
the August 2011 Escrow Issuers shall be assumed by the August 2011 Ultimate Issuers pursuant
to one or more supplemental indentures between, among others, the August 2011 Escrow Issuers,
the August 2011 Ultimate Issuers, 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.

	(E)	 	The obligations in respect of the August 2011 Senior Secured Notes and any Senior
Secured Note Documents (as defined in the August 2011 Senior Secured Notes Indenture) will be
or have been designated as “Additional Obligations” under, and in accordance with, section
5.02(c) of the First Lien Intercreditor Agreement and the August 2011 Senior Secured Notes
Indenture and the Senior Secured Note Documents (as defined in the August 2011 Senior Secured
Notes Indenture) are therefore “Additional Agreements” under the First Lien Intercreditor
Agreement (the “Secured Notes Designation”).

	(F)	 	As a consequence of the execution of the August 2011 Senior Secured Notes Indenture
it is necessary for the Chargor to make certain amendments to the Debenture, 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 Debenture shall be amended as follows:

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Issuers” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Issuers” means the “Issuers” under, and as defined in, the August
2011 Senior Secured Notes Indenture, including their successors in interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Escrow Issuers” shall be inserted in alphabetical order:

- 2 -

 

	 	 	 	““August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL US Escrow II
LLC, including their successors in interest.”

	 	(c)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Senior Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Senior Secured Notes Indenture” means the indenture dated 9 August
2011 among the August 2011 Escrow 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 and to which Reynolds Group Issuer Inc.,
Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxembourg) S.A. have or will
become a party as issuers by way of RGHL US Escrow II Inc. and RGHL US Escrow II
LLC merging with and into Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC,
respectively, and one or more supplemental indentures being entered into between,
among others, the August 2011 Escrow Issuers, Reynolds Group Issuer Inc., Reynolds
Group Issuer LLC, Reynolds Group Issuer (Luxembourg) S.A., 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.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement”
shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Credit Agreement” means the second amended and restated credit agreement dated 9
August 2011 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., 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 as administrative agent, 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 in its entirety and replaced with the
following:
	 
	 	 	 	““First Lien Intercreditor Agreement” means 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, the February 2011 Senior Secured Notes Indenture
and the August 2011 Senior Secured Notes Indenture, Credit Suisse AG, as
administrative agent under the Credit Agreement, and the Loan Parties, as further
amended, novated, supplemented, restated or modified from time to time.”

- 3 -

 

	 	(f)	 	In Clause 1.1 (Definitions) the existing definition of “Principal Finance
Documents” shall be deleted in its entirety and replaced with 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 August 2011 Senior Secured Notes Indenture, the
Intercreditor Arrangements and any Additional Agreement.”

	 	(g)	 	Clause 5.3.2 (Further Advances) shall be deleted in its entirety and replaced
with the following:

	 	“5.3.2 	 	(a) 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 of such Additional Notes will be deemed to be
incorporated into this Debenture as if set out in this Debenture.
	 
	 		 	(b) 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 Debenture as if set out in this Debenture.
	 
	 		 	(c) 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 Debenture as if set out in
this Debenture.
	 
	 		 	(d) Subject to the terms of the Loan Documents, each August 2011 Issuer
may issue Additional Notes (as defined in the August 2011 Senior Secured
Notes Indenture) and the obligations in respect of such Additional Notes
will be deemed to be incorporated into this Debenture as if set out in
this Debenture.”

	3.	 	The Chargor confirms that, with effect from the date of this Deed, the Debenture shall
continue in full force and effect as amended by this Deed and extends to the obligations in
respect of the Credit Agreement as amended by Amendment No. 6 and 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.	 	This Deed is supplemental to and shall be construed as one with the Debenture and all
documents or instruments which are expressed to supplement the Debenture shall be construed
accordingly.

	5.	 	This Deed may be executed in any number of counterparts, and by each party on separate
counterparts. Each counterpart is an original, but all counterparts shall together constitute
one and the same instrument. Delivery of a counterpart of this Deed by e-mail attachment or
telecopy shall be an effective mode of delivery.

- 4 -

 

	6.	 	This Deed and all non-contractual obligations arising out of or in connection with it
shall be governed by and construed in accordance with Hong Kong law.

	7.	 	For the avoidance of doubt, notwithstanding anything contained herein, each of the
protections, immunities, rights, indemnities and benefits conferred on the Collateral Agent
under the Debenture and the First Lien Intercreditor Agreement shall continue in full force
and effect and shall apply to this Deed as if set out in full herein.

	8.	 	The courts of Hong Kong 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 Hong Kong 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.

- 5 -

 

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

	 	 	 	 	 	 	 

	The Chargor
	 	 	 	 	 	 
	 
	 	 	 	 	 
	SIGNED, SEALED and DELIVERED )

	 	 	 	 	 
	 

	 	 	)	 	 
	by /s/ Karen M. Mower

	 	 	)	 	 
	 
	 	 	 	 	 
	under power of attorney

	 	 	)	 	 
	dated 19 July 2011

	 	 	)	 	 
	and thereby executed by

	 	 	)	 	 
	EVERGREEN PACKAGING

	 	 	)	 	 
	(HONG KONG) LIMITED

	 	 	)	 	 
	as its Deed in the presence of:

	 	 	)	 	 

	 	 	 	 	 
	 	 	 
	 	     /s/ Stephen Mihaljevic
 	 
	 	Name of witness: Stephen Mihaljevic 	 
	 	Address of witness: Sydney, Australia

Occupation of witness: Solicitor 	 

- 6 -

 

	 	 	 	 	 

	 	 	 	 	 

	The Collateral Agent
	 	 	 	 
	Signed by

	 	 	)	 
	WILMINGTON TRUST (LONDON) LIMITED

	 	 	)	 

	 	 	 	 
				
	By:

	 	/s/ Paul Barton	 
	 
	 	 	 
	Name:

	 	Paul Barton

Relationship Manager	 

	 	 	 

	Address:

	 	1 King’s Arms Yard
	 

	 	London EC2R 7AF
	 

	 	United Kingdom
	 
	 	 
	Fax:

	 	+44 (0)20 7397 3601
	 
	 	 
	Attention:

	 	Elaine Lockhart/Paul Barton

- 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]