Document:

exv4w439

Exhibit 4.439

SIG COMBIBLOC GMBH & CO. KG

as Pledgor

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent and Pledgee

 

ACCOUNT PLEDGE AGREEMENT

(Kontoverpfändung)

 

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or
references to it, into Austria as well as printing out any e-mail communication which refers
to any Credit Document (as defined in Clause 1 of this document) in Austria or sending any
e-mail communication to which a pdf scan of this document is attached to an Austrian
addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee may cause the imposition of
Austrian stamp duty. Accordingly, keep the original document as well as all certified copies
thereof and written and signed references to it outside of Austria and avoid printing out any
email communication which refers to any Credit Document in Austria or sending any e-mail
communication to which a pdf scan of this document is attached to an Austrian addressee or
sending any e-mail communication carrying an electronic or digital signature which refers to
any Credit Document to an Austrian addressee.

 

 

CONTENTS

	 	 	 	 	 	 	 
	Clause	 	Page	 
	1.
	 	Definitions and Language	 	 	- 4 -	 
	2.
	 	Pledge	 	 	- 11 -	 
	3.
	 	Purpose of the Pledge	 	 	- 12 -	 
	4.
	 	Notice of Pledge	 	 	- 12 -	 
	5.
	 	Pledgor's Right of Disposal	 	 	- 13 -	 
	6.
	 	Enforcement of the Pledge	 	 	- 13 -	 
	7.
	 	Austrian Limitations on Enforcement	 	 	- 14 -	 
	8.
	 	Undertakings of the Pledgor	 	 	- 15 -	 
	9.
	 	Delegation	 	 	- 17 -	 
	10.
	 	Indemnity	 	 	- 17 -	 
	11.
	 	No liability	 	 	- 17 -	 
	12.
	 	Duration and Independence	 	 	- 17 -	 
	13.
	 	Release (Pfandfreigabe)	 	 	- 18 -	 
	14.
	 	Partial Invalidity; Waiver	 	 	- 18 -	 
	15.
	 	Amendments	 	 	- 19 -	 
	16.
	 	Austrian Stamp Duty	 	 	- 19 -	 
	17.
	 	Notices and their Language	 	 	- 20 -	 
	18.
	 	Applicable Law, Jurisdiction	 	 	- 21 -	 
	19.
	 	Conclusion of this Agreement (Vertragsschluss)	 	 	- 22 -	 
	Schedule 1	 	 	- 24 -	 
	Part 1 List of Current Borrowers	 	 	- 24 -	 
	Part 2 List of Current Guarantors	 	 	- 24 -	 
	Part 3 List of Current Senior Secured Notes Guarantors	 	 	- 29 -	 
	Part 4 List of Current October 2010 Secured Notes Guarantors	 	 	- 33 -	 
	Part 5 List of Current February 2011 Secured Notes Guarantors	 	 	- 38 -	 
	Schedule 2 List of Accounts	 	 	- 43 -	 
	Schedule 3 Form of Notice of Pledge	 	 	- 44 -	 
	Schedule 4 Form of Notification of Future Accounts	 	 	- 49 -	 
	Schedule 5 Stamp Duty Guidelines	 	 	- 51 -	 

 

 

This ACCOUNT PLEDGE AGREEMENT (the “Agreement”) is made on 7 June 2011

BETWEEN:

	(1)	 	SIG Combibloc GmbH & Co. KG, a limited partnership organised under the
laws of Austria with its seat in Saalfelden am Steinemen Meer, Austria, and its
business address as at the date of this Agreement at Industriestrabe 3, 5760
Saalfelden, Austria, registered in the Austrian companies register (Firmenbuch)
under file number FN
240335 i (the “Pledgor”); and
	 
	(2)	 	Wilmington Trust (London) Limited, a private limited company whose registered
number is 05650152 and whose registered office address as at the date of this
Agreement is at Third Floor, I King’s Arms Yard, London, EC2R 7AF, United Kingdom,
in its capacity as collateral agent under the First Lien Intercreditor Agreement (as
defined below) (the “Collateral Agent” or the “Pledgee”).

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November
2009 (as amended and/or restated by the Amendment No.1 (as defined below), by the
Amendment No. 2 and Incremental Term Loan Assumption Agreement (as defined below), by
the Amendment No. 3 and Incremental Term Loan Assumption Agreement (as defined
below), by the Amendment No. 4 and Incremental Term Loan Assumption Agreement (as
defined below) and by the Amendment No. 5 (as defined below) between, inter
alia, the parties listed in Part 1 of Schedule I hereto as current borrowers
(the “Current Borrowers”), the parties listed in Part 2 of Schedule I hereto as
current guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Islands
Branch (formerly Credit Suisse, Cayman Islands Branch) as administrative agent and
others (as further amended, varied, novated, restated, 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 or may have acceded to the Credit Agreement
as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured notes 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 I as current senior secured notes guarantors (the “Current
Senior Secured Notes 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 Notes 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

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	 	 	(the “Euro Secured Notes” and together with the US Secured Notes the “Senior
Secured Notes”) to certain noteholders.
	 
	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia,
RGHL US Escrow I LLC, RGHL US Escrow I Inc., and RGHL Escrow Issuer (Luxembourg) I S.A. as escrow issuers (the “Escrow Issuers”), The Bank of New York
Mellon as indenture trustee, The Bank of New York Mellon, London Branch as principal
paying agent, The Bank of New York Mellon as Collateral Agent and Wilmington Trust
(London) Limited as collateral agent (as amended, varied, novated, supplemented,
superseded or extended from time to time, the “October 2010 Secured Notes Indenture”),
the Escrow Issuers have issued secured notes due 2019 in the aggregate principal
amount of USD 1,500,000,000 in escrow (the “October 2010 Secured Notes”). In
connection with the release from escrow of the proceeds of the October 2010 Secured
Notes, which occurred on 16 November 2010, the Escrow Issuers were merged with and
into the Issuers, with each of the Issuers surviving the applicable mergers or other
transfers and assuming by operation of law the obligations of the applicable Escrow
Issuers with respect to the October 2010 Secured Notes Indenture and the October 2010
Secured Notes. Certain affiliates of the Issuers listed in Schedule 1 Part 4 have
acceded to the October 2010 Secured Notes Indenture as new secured notes guarantors
(the “Current October 2010 Secured Notes Guarantors”).
	 
	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia,
the Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon,
London Branch as principal paying agent, The Bank of New York Mellon as Collateral Agent and
Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “February 2011 Secured Notes
Indenture”), the Issuers have issued secured notes due 2021 in the aggregate principal amount
of USD 1,000,000,000 (the
“February 2011 Secured Notes”) which are guaranteed by certain affiliates of the
Issuers listed in Schedule 1Part 5 as current February 2011 secured notes guarantors
(the “Current February 2011 Secured Notes Guarantors”).
	 
	(E)	 	The Pledgor has entered into the Existing Account Pledge Agreements (as defined below).
	 
	(F)	 	As a result of the amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Credit Agreement between, inter alia, the Current Borrowers,
the Current Guarantors, Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse,
Cayman Islands Branch) as administrative agent and others (the “Amendment No. 4 and
Incremental Term Loan Assumption Agreement”) the Credit Agreement inter alia includes new
incremental term facilities.

- 3 -

 

	(G)	 	As a result of the amendment No. 5 dated 11 March 2011 relating to the Credit Agreement
between, inter alia, the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman
Islands Branch (formerly Credit Suisse, Cayman Islands Branch) as administrative agent and
others (the “Amendment No. 5”) certain amendments in respect of the permitted indebtedness
provisions were made to the Credit Agreement.
	 
	(H)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges existing by
operation of the general business conditions (Allgemeine Geschäftsbedingungen) of the
respective Account Bank (as defined below) and the pledges arising under the Existing Account
Pledge Agreements (as defined below)) over its Accounts (as defined below) as security for
the Pledgee’s claims against the Grantors (as defined below) (or any of them) in respect of
the Obligations (as defined below).
	 
	(I)	 	The security created by or pursuant to this Agreement is to be administered by the
Collateral Agent for the Secured Parties (as defined below) pursuant to a first lien
intercreditor agreement dated 5 November 2009 (as amended by the Amendment No.
1 and Joinder Agreement (as defined below)) between, inter alia, the Collateral Agent,
the Indenture Trustee, the Administrative Agent and the Grantors (each as defined
below) and others (as amended, varied, novated, supplemented, superseded or extended
from time to time, the “First Lien Intercreditor Agreement”).

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the credit institutions administering the Accounts and “Account Bank” means any of them.
	 
	 	 	“Accounts” means all bank accounts (including without limitation giro accounts and
accounts for saving deposits (Spareinlagen), time deposits (Termineinlagen) or call
money deposits (Tagesgeldeinlagen)) which the Pledgor holds at present or may at any
time hereafter open with any credit institution in the Federal Republic of Germany
(including without limitation the accounts listed in Schedule 2 (List of Accounts)
and any sub-account (Unterkonto), renewal, redesignation or replacement thereof, and “Account” means any of them.
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its
business address at Eleven 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.
	 
	 	 	“Amendment No.1” means the amendment agreement dated 21 January 2010 relating to the
Credit Agreement between, inter alia, the borrowers and the guarantors under the
Credit Agreement as of such date, the Administrative Agent and others.

- 4 -

 

	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January
2010 relating to the First Lien Intercreditor Agreement made among (amongst others)
The Bank of New York Mellon, Wilmington Trust (London) Limited, Credit Suisse AG and
Reynolds Group Holdings Limited pursuant to which Wilmington Trust (London) Limited
was appointed as additional collateral agent and became party to the First Lien
Intercreditor Agreement.
	 
	 	 	“Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the amendment
and incremental term loan assumption agreement dated 4 May 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit
Agreement as of such date, the Administrative Agent and others.
	 
	 	 	“Amendment No. 3 and Incremental Term Loan Assumption Agreement” means the amendment
and incremental term loan assumption agreement dated 30 September 2010 relating to the
Credit Agreement between, inter alia, the borrowers and the guarantors under the
Credit Agreement as of such date, the Administrative Agent and others.
	 
	 	 	“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 N.A., 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.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Notes Documents,
the October 2010 Secured Notes Documents and the February 2011 Secured Notes
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 Notes Indenture and/or the October 2010 Secured
Notes Indenture and/or the February 2011 Secured Notes Indenture.
	 
	 	 	“Existing Account Pledge Agreements” means

	 	(a)	 	the account pledge agreement dated 4 March 2010 (as amended by a
confirmation and amendment agreement dated 27 August 2010) entered into between
SIG Combibloc GmbH & Co. KG as pledgor and Wilmington Trust (London) Limited as
collateral agent and as pledgee and others as pledgees;

- 5 -

 

	 	(b)	 	confirmation and amendment agreement dated 27 August 2010 and entered into
between, inter alios, SIG Combibloc GmbH & Co. KG as pledgor and Wilmington
Trust (London) Limited as collateral agent relating to an account pledge
agreement dated 4 March 2010 and entered into between SIG Combibloc GmbH & Co.
KG as pledgor and Wilmington Trust (London) Limited as collateral agent and as
pledgee and others as pledgees; and
	 
	 	(c)	 	the account pledge agreement dated 14 January 2011 and entered into between
SIG Combibloc GmbH & Co. KG as pledgor and Wilmington Trust (London) Limited as
collateral agent and as pledgee.

	 	 	“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, as amended and restated on 5 November 2009 and as further amended on 5 November
2010) 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 (formerly Credit Suisse) as security trustee and others.
	 
	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured
Notes, the Intercreditor Arrangements, any supplemental indenture, any security
document relating to the February 2011 Secured Notes and/or the February 2011 Secured
Notes Indenture and any other document that may be entered into pursuant to any of the
foregoing.
	 
	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations
of the Issuers under the February 2011 Secured Notes and the February 2011 Secured
Notes Indenture by the February 2011 Secured Notes Guarantors.
	 
	 	 	“February 2011 Secured Notes Guarantors” means the Current February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes
Indenture as additional guarantor.
	 
	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.
	 
	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York
Mellon, in its capacity as indenture trustee under the February 2011 Secured Notes
Indenture and any successor appointed as indenture trustee under the February 2011
Secured Notes Indenture.
	 
	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Notes Guarantors,
the October 2010 Secured Notes Guarantors and the February 2011 Secured Notes
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, the Senior Secured Notes Guarantors, the October 2010 Secured Notes
Guarantors and the February 2011 Secured Notes Guarantors under the Credit Documents
and “Grantor” means any of them.

- 6 -

 

	 	 	“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 750,000,000 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.
	 
	 	 	“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.

- 7 -

 

	 	 	“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, the Amendment No.1, the Amendment
No. 1 and Joinder Agreement, the Amendment No. 2 and Incremental Term Loan Assumption
Agreement, the Amendment No. 3 and Incremental Term Loan Assumption Agreement, the
Amendment No. 4 and Incremental Term Loan Assumption Agreement, the Amendment No. 5,
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 HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG,
Commerzbank Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd.,
Thailand, Bank of America, N.A., Canada Branch, FIA Card Services, N.A., Citibank
N.A., Citibank (China) Co., Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo
Financiero Banamex, Bank of America, N.A., 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 Pledgee under each or any of the Credit Documents
(including, but not limited to, the Parallel Obligations), including with respect to
all costs, charges and expenses incurred by the Pledgee in connection with the
protection, preservation or enforcement of its 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).
	 
	 	 	“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes
Indenture, the October 2010 Secured Notes Guarantees, the October 2010 Secured Notes,
the Intercreditor Arrangements, any security document relating to the

- 8 -

 

	 	 	October 2010 Secured Notes and/or the October 2010 Secured Notes Indenture and any
other document that may be entered into pursuant to any of the foregoing.
	 
	 	 	“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations
of the Issuers under the October 2010 Secured Notes and the October 2010 Secured Notes
Indenture by the October 2010 Secured Notes Guarantors.
	 
	 	 	“October 2010 Secured Notes Guarantors” means the Current October 2010 Secured Notes
Guarantors and any entity which may accede to the October 2010 Secured Notes Indenture
as additional guarantor.
	 
	 	 	“October 2010 Secured Notes Holders” shall mean the holders from time to time of the
October 2010 Secured Notes.
	 
	 	 	“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon,
in its capacity as indenture trustee under the October 2010 Secured Notes Indenture
and any successor appointed as indenture trustee under the October 2010 Secured Notes
Indenture.
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors
arising pursuant to the First Lien Intercreditor Agreement to pay to the Collateral
Agent sums equal to the sums owed by such Grantor to the other Secured Parties (or any
of them) under the Credit Documents.
	 
	 	 	“Pledge” has the meanings given to such term in Clause 2.1.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture, the February 2011 Secured Notes
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 Notes Holders, the October 2010 Secured Notes Holders, the February
2011 Secured Notes Holders, the Indenture Trustee, the October 2010 Secured Notes
Indenture Trustee, the February 2011 Secured Notes Indenture Trustee, the Collateral
Agent, the Local Facility Providers and the Cash Management Banks.
	 
	 	 	“Senior Secured Notes Documents” shall mean the Senior Secured Notes Indenture, the
Senior Secured Notes Guarantees, the Senior Secured Notes, the Intercreditor
Arrangements, any supplemental indenture, 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 Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the Senior Secured Notes and the Senior Secured Notes Indenture by the
Senior Secured Notes Guarantors.

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	 	 	“Senior Secured Notes Guarantors” means the Current Senior Secured Notes Guarantors
and any entity which may accede to the Senior Secured Notes Indenture as additional
guarantor.
	 
	 	 	“Senior Secured Notes Holders” shall mean the holders from time to time of the Senior
Secured Notes.
	 
	 	 	“Stamp Duty Sensitive Document” shall mean (a) any original of any Credit Document and
(b) any signed document (including email, PDF, TIF and other comparable formats) that
constitutes a deed (Urkunde) within the meaning of section 15 of the Austrian Stamp
Duty Act (as interpreted by the Austrian tax authorities), whether documenting or
confirming the entering into of the relevant transaction (rechtserzeugende Urkunde) or
documenting that the relevant transaction has been entered into (rechtsbezeugende
Urkunde), or a substitute deed (Ersatzurkunde) within the meaning of section 15 of the
Austrian Stamp Duty Act (as interpreted by the Austrian tax authorities), including,
without limitation, any notarized copy, any certified copy and any written minutes
recording the transactions (Rechtsgeschäfte) contemplated by, or referenced in, any
Credit Document.
	 
	 	 	“Stamp Duty Guidelines” means the stamp duty guidelines set out in Schedule 5
(Stamp Duty Guidelines).
	 
	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” or a “Schedule” shall, subject to
any contrary indication, be construed as a reference to a Clause or a Schedule hereof.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this
Agreement, the German translation of such word or phrase shall prevail.
	 
	1.4	 	The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this
Agreement are on the basis of authority conferred under the Principal Finance Documents to
which the Collateral Agent is a party, and on directions given in accordance with the
Principal Finance Documents. In so acting, the Collateral Agent shall have, subject to the
terms of the Principal Finance Documents, the protections, immunities, rights, indemnities
and benefits conferred on the collateral agent under the Principal Finance Documents.

- 10 -

 

	1.5	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to
act on the instructions of the other Secured Parties in accordance with Section 2.02(a) of
the First Lien Intercreditor Agreement. It is further acknowledged that the Collateral Agent
may assume that any and all instructions received by it from the other Secured Parties
(acting in accordance with the Principal Finance Documents) under this Agreement are
reasonable, and that any question as to the reasonableness or otherwise of such instructions
shall be determined as between the other Secured Parties (or any one or more representatives
of the Secured Parties acting in accordance with the Principal Finance Documents) and the
Pledgor.
	 
	1.6	 	In the case of any references in this Agreement to the Secured Parties acting through the
Collateral Agent or to the Collateral Agent acting for or on behalf of the Secured Parties,
it is acknowledged that the Pledgee and/or the Secured Parties shall at all times be
represented in accordance with the First Lien Intercreditor Agreement and the Collateral
Agent act only on the instructions given in accordance with the First Lien Intercreditor
Agreement.
	 
	1.7	 	Solely for the purposes of Clause 16 (Austrian Stamp Duty) and Schedule 5 (Stamp Duty
Guidelines), “written” shall mean that what is “written” was translated into letters
(Buchstaben) that are or can be made visible on a physical or electronic device of whatever
type and format, including paper and screen, and, accordingly, communication, documents or
notices being “in writing” shall include not only paper-form (letter or fax) communication,
documents or notices but also electronic communication, documents or notices, including by
way of e-mail; and “signed” communication, documents or notices refers to written
communication, documents or notices that carry a manuscript, digital or electronic or other
technically reproduced signature, and “signature” shall be construed accordingly.
	 
	2.	 	PLEDGE
	 
	2.1	 	The Pledgor hereby pledges to the Pledgee all its present and future rights and claims
(whether conditional or unconditional) arising against any Account Bank from or in relation
to any of the Accounts, including without limitation:

	 	(a)	 	all rights and claims in respect of present and future cash deposits (Guthaben)
(including without limitation saving deposits (Spareinlagen), time deposits
(Termineinlagen) (including fixed deposits (Festgeldguthaben) and termination
monies (Kündigungsgelder)) and call money deposits
(Tagesgeldeinlagen) (including deposits for overnight money, tom/next money,
spot/next money and money until further notice (Geld b .a. w.)) standing from
time to time to the credit of the Accounts, including all claims to interest
payable;

- 11 -

 

	 	(b)	 	in respect of each Account maintained as a giro account (Girokonto) at present or
in the future, (i) all claims in respect of present and future credit balances
(positive Salden), (ii) all claims in respect of present and future credit entries
(gutgeschriebene Beträge), (iii) all claims to interest payable and (iv) all other
present and future monetary rights and claims arising under or in connection with the
respective giro agreement (Girovertrag) (including without limitation all claims to
the grant of a credit entry (Gutschriftanspruch)); and
	 
	 	(c)	 	in respect of each Account maintained as a current account (Kontokorrentkonto) at
present or in the future, all present and future rights and claims arising under or in
connection with the respective current account agreement
(Kontokorrentabrede) (including without limitation all claims to determination
and acknowledgement of the current account balance (Anspruch auf
Saldofeststellung und -anerkennung), all claims to present and future current
account balances (Saldoforderungen) including the causal final balance
(kausaler Schlusssaldo) and the right to terminate the current account
relationship (Kündigung des Kontokorrents)).

	 	 	(the “Pledge”).
	 
	2.2	 	The Pledgee hereby accepts the Pledge.
	 
	2.3	 	The Pledge is in addition, and without prejudice, to any other security the Secured
Parties may now or hereafter hold in respect of the Obligations.
	 
	3.	 	PURPOSE OF THE PLEDGE
	 
	 	 	The Pledge hereunder is constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledge shall also cover any future
extension of the Obligations and the Pledgor herewith expressly agrees that the
provisions of Section 1210 para 1 sentence 2 of the German Civil Code (Bürgerliches
Gesetzbuch) shall not apply to this Agreement.
	 
	4.	 	NOTICE OF PLEDGE
	 
	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay,
but not later than twenty business days after the date of this Agreement, and, in relation to
any Account opened after the date of this Agreement, within ten business days after such new
Account has been opened, notify each Account Bank and any other relevant third party of the
Pledge by delivering a notification substantially in the form set out in Schedule 3 (Form of
Notice of Pledge) by registered mail
(Einschreiben mit Rückschein). The Pledgor shall provide the Collateral Agent with a
copy of each such notification and of the corresponding return receipt (Rückschein).
In addition, the Pledgor shall use all reasonable efforts to procure that each Account

- 12 -

 

	 	 	Bank promptly acknowledges receipt of the respective notification, and acceptance of
the terms thereof, to the Collateral Agent and to the Pledgor.
	 
	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 and, in the
case of future Accounts, Clause  8.3, the Pledgor hereby authorises the Collateral Agent and
releases it for this purpose from the restrictions of self-dealing under Section 181 of the
German Civil Code to notify each Account Bank and any other relevant third party on its
behalf of this Agreement and the Pledge constituted hereunder by delivering a notification
substantially in the form set out in Schedule 3
(Form of Notice of Pledge), or in such substantially similar form as the Collateral
Agent (acting on behalf of the Secured Parties) deems appropriate, provided that the
Collateral Agent may only make use of this authorisation if the Pledgor has not
complied with the obligations imposed on the Pledgor in Clause 4.1 within 10 business
days of being notified of such failure (with a copy of such notice being sent to
Reynolds Group Holdings Limited) and being requested to comply or if an Enforcement
Event has occurred and is continuing.
	 
	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause
4.1 above whilst an Enforcement Event is not continuing if the Pledgor can prove to the
Collateral Agent (acting on behalf of the Secured Parties) that notifying the relevant
Account Bank of the Pledge created hereunder would not be consistent with, whilst an
Enforcement Event is not continuing, the Pledgor retaining control over and the ability to
freely use the balance of any such Account. The Collateral Agent will not be required to use
its discretion but will take instructions in accordance with the First Lien Intercreditor
Agreement whether or not to agree with the Pledgor’s analysis under this Clause 4.3. For the
avoidance of doubt, at the date of this Agreement the Pledgor agrees that notifying the
Account Banks of the Pledge created hereunder is not inconsistent with the Pledgor retaining
control over and the ability to freely use the balance of any Account existing at the date of
this Agreement.
	 
	5.	 	PLEDGOR’S RIGHT OF DISPOSAL
	 
	 	 	The Pledgor may exercise all rights and powers in respect of each Account until the
Collateral Agent gives notice to the contrary to the Account Bank with a copy to the
Pledgor. The Pledgee may give such notice only if an Enforcement Event has occurred
and is continuing.
	 
	6.	 	ENFORCEMENT OF THE PLEDGE
	 
	6.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of the Pledge are met (Pfandreife), in particular, if any of the Obligations has
become due and payable, then in order to enforce the Pledge, the Collateral Agent (acting on
the instructions of the Secured Parties) may on its own

- 13 -

 

	 	 	behalf at any time thereafter avail itself of all rights and remedies that a pledgee
has against a pledgor under the laws of the Federal Republic of Germany.
	 
	6.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to
exercise its rights without obtaining an enforceable judgment or other instrument
(vollstreckbarer Titel). The Pledgee shall be entitled to have the Pledge enforced in any
manner allowed under the laws of the Federal Republic of Germany.
	 
	6.3	 	The Pledgee will notify the Pledgor five business days prior to the enforcement of the
Pledge according to Clause 6. No such notification shall be required if (i) the Pledgor has
generally ceased to make payments (Zahlungseinstellung), (ii) an application for the
institution of insolvency proceedings is filed by or against the Pledgor or (iii) the Pledgee
has reasonable grounds to believe that observance of the notice period will adversely affect
the legitimate interests (berechtigte Interessen) of the Pledgee.
	 
	6.4	 	If the Pledgee (acting on instructions of the Secured Parties) should seek to enforce the
Pledge pursuant to Clause 6.1 hereof, the Pledgor shall, at its own expense, render
forthwith all necessary assistance in order to facilitate the prompt realisation of the
Pledge and/or the exercise by the Pledgee of any other right it may have as Pledgee.
	 
	6.5	 	The Pledgee may, in its sole discretion, determine which of several security interests
(created under this or other security agreements) shall be used to satisfy the Obligations.
	 
	6.6	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der
Anfechtbarkeit) and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of
the German Civil Code.
	 
	6.7	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	6.8	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a
pledgor — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee
shall pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time
before, on or after an enforcement of the Pledge, and as a result of the Pledgor entering
into this Agreement, be entitled to demand indemnification or compensation from a Grantor or
any affiliate of a Grantor or assign any of these claims.
	 
	7.	 	AUSTRIAN LIMITATIONS ON ENFORCEMENT
	 
	 	 	The Pledgor and the Pledgee agree that the Pledge shall not be enforced if and to the
extent that such application would violate mandatory Austrian capital maintenance

- 14 -

 

	 	 	rules (Kapitalerhaltungsvorschriften) as amended from time to time and as interpreted
by the Austrian Supreme Court from time to time pursuant to Austrian company law, in
particular Sections 82 et seq of the Austrian Act on Limited Liability Companies
(Gesetz über Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq
of the Austrian Stock Corporation Act (Aktiengesetz). This limitation on the
enforcement of the Pledge applies from the date this Agreement enters into force as
well as on any date until the termination date of this Agreement, particularly on the
date of a possible enforcement of the Pledge and the payments thereunder.
	 
	8.	 	UNDERTAKINGS OF THE PLEDGOR
	 
	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Pledgor undertakes to the Pledgee:
	 
	8.1	 	subject to Clause 4.3 to use all reasonable efforts to procure that each Account Bank
releases any existing lien, including without limitation any pledge existing by operation of
its general business conditions (Allgemeine Geschäftsbedingungen), and waives any right of
set-off and right of retention in respect of the Accounts by countersigning and returning an
acknowledgement of notice of pledge substantially in the form set out in  Schedule 3 (Form
of Notice of Pledge) to the Pledgor and the Pledgee;
	 
	8.2	 	to instruct each Account Bank to provide the Pledgee following receipt by the relevant
Account Bank of a notice pursuant to Clause 5 with all information requested by it in
respect of the Accounts and to that extent to release each Account Bank from its obligation
to maintain confidentiality (Bankgeheimnis) by delivering a notice of pledge to the
respective Account Bank in accordance with the requirements set out in Clause 4.1 or, in the
case of any future Account, Clause 8.3. The Pledgor undertakes not to revoke such
instruction during the term of this Agreement, other than in respect of an Account which is
closed or disposed of in accordance with the terms of the Credit Documents;
	 
	8.3	 	to notify the Pledgee without undue delay substantially in the form set out in Schedule 4
(Form of Notification of Future Accounts) of each new bank account opened by the Pledgor with
a credit institution in the Federal Republic of Germany in accordance with Clause 4 above.
For the avoidance of doubt, the Pledgor is aware that any new bank account opened within the
Federal Republic of Germany will become an Account in the meaning of this Agreement upon
notice to the Account Bank and will be subject to the Pledge and the obligations assumed by
the Pledgor hereunder without any further agreement;
	 
	8.4	 	to close any of the Accounts only upon giving 5 business days prior notice to the Pledgee
and provided that the Pledgee has not given a notice pursuant to Clause 5;

- 15 -

 

	8.5	 	to deliver to the Pledgee, within three months after the end of each calendar year ending
after January 2011, and at any time upon reasonable request of the Pledgee, up-to date
account statement sheets (Kontoauszüge) showing the balance on each of the Accounts, provided
that the Pledgee shall not request such information more than one additional time in any one
year prior to the occurrence of an Enforcement Event and while it is continuing;
	 
	8.6	 	with regard to any account books (Sparbücher) and any other documents which are necessary
to dispose over (verfügen) any of the Accounts, the Pledgor undertakes to deliver the
originals of such documents to the Pledgee without undue delay if the Pledgee has given a
notice pursuant to Clause 5 and to deliver to the Pledgee upon its reasonable request
following such event without undue delay any documents or other information concerning the
Accounts, in particular (but not limited to) the account opening documents and any agreements
between the Account Bank and the Pledgor in relation to the Accounts;
	 
	8.7	 	not to grant to any third party any rights in respect of the Accounts (keine Und-Konten
oder Oder-Konten oder sonstige Rechte Dritter) (other than those arising under the relevant
Account Bank’s general business conditions (Allgemeine Geschäftsbedingungen) and under the
Existing Account Pledge Agreements) without the prior written consent of the Collateral Agent
(as instructed in accordance with the Principal Finance Documents (such consent not to be
unreasonably withheld by the relevant Secured Parties));
	 
	8.8	 	to inform the Pledgee without undue delay of any attachment (Pfändung) and any third
parties bringing claims in respect of any of the Accounts, such notice to be accompanied by
any documents the Pledgee might need to defend itself against any claim by a third party. In
the case of any attachment (Pfändung) in respect of any of the Accounts, the Pledgor
undertakes to forward to the Pledgee without undue delay a copy of the attachment order
(Pfändungsbeschluss), any transfer order
(Überweisungsbeschluss) and all other documents necessary for a defence against the
attachment. The Pledgor shall inform the attaching creditor of the Pledge without
undue delay;
	 
	8.9	 	except as otherwise agreed pursuant to the Principal Finance Documents, insofar as
additional declarations or actions are necessary for the creation of the Pledge, the Pledgor
shall, at the Collateral Agent’s request (acting on the reasonable instructions of the
Secured Parties), make such declarations and undertake such actions at the Pledgor’s costs
and expenses; and
	 
	8.10	 	for the avoidance of doubt, notification and delivery requirements as set out in
sub-Clauses 8.3, 8.4, 8.5, 8.6 and 8.8 of this Agreement are deemed to be satisfied if and
to the extent such information has been delivered under the Existing Account Pledge

- 16 -

 

	 	 	Agreements provided that such notification or delivery to the Pledgee makes reference
to this Agreement and each Existing Account Pledge Agreement.
	 
	9.	 	DELEGATION
	 
	 	 	The Pledgee 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 Pledgee shall only remain liable for
diligently selecting and providing initial instructions to such delegate.
	 
	10.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Pledgor
shall, notwithstanding any release or discharge of all or any part of the security,
indemnify the Pledgee, 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 Pledgor 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 Pledge.
	 
	11.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee,
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 Pledgee, 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.
	 
	12.	 	DURATION AND INDEPENDENCE
	 
	12.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if the Grantors under the Credit
Documents have only temporarily discharged the Obligations.
	 
	12.2	 	This Agreement shall create a continuing security and no change, amendment, or
supplement whatsoever in the Credit Documents or in any document or agreement related to any
of the Credit Documents shall affect the validity or the scope of this Agreement nor the
obligations which are imposed on the Pledgor pursuant to it.
	 
	12.3	 	This Agreement is independent from any other security or guarantee which may have been
or will be given to the Pledgee. None of such other security shall prejudice, or shall be
prejudiced by, or shall be merged in any way with this Agreement.

- 17 -

 

	12.4	 	Waiving Section 418 of the German Civil Code, the Pledgor 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.
	 
	13.	 	RELEASE (PFANDFREIGABE)
	 
	13.1	 	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 practical declare in writing the release of the Pledge (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon
full and complete satisfaction of the Obligations the Pledge, due to its accessory nature
(Akzessorietät), ceases to exist by operation of German mandatory law.
	 
	13.2	 	At any time when the total value of the aggregate security granted by the Pledgor and
any of 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”) not only temporarily, the Pledgee shall on demand of
the Pledgor release such part of the Security
(Sicherheitenfreigabe) as the Pledgee (as instructed in accordance with the First Lien
Intercreditor Agreement) may determine so as to reduce the realisable value of the
Security to the Limit.
	 
	13.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement)
will as soon as reasonably practicable declare in writing the release of the Pledge
(Pfandfreigabe) to the Pledgor in accordance with, and to the extent required by, the
Intercreditor Arrangements.
	 
	14.	 	PARTIAL INVALIDITY; WAIVER
	 
	14.1	 	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 (including Austrian law, in
particular Austrian capital maintenance rules), 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 to be replaced
with such 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 which comes as close as possible to the original
intent of the parties.

- 18 -

 

	14.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, 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.
	 
	15.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 15 shall be made in
writing.
	 
	16.	 	AUSTRIAN STAMP DUTY
	 
	16.1	 	The parties to this Agreement (each a “Party” and together the “Parties”) shall perform
their obligations under or in connection with the Agreement exclusively at the Place of
Performance (as defined below), but in no event at a place in Austria and the performance of
any obligations or liability under or in connection with the Agreement within the Republic of
Austria shall not constitute discharge or performance of such obligation or liability. For
the purposes of the above, “Place of Performance” means: (i) in relation to any payment under
or in connection with the Agreement, the place at which such payment is to be made pursuant
to the Credit Documents; and (ii) in relation to any other obligation or liability under or
in connection with the Agreement, the premises of the Administrative Agent or the Indenture
Trustee (as the case may be) in New York or any other place outside of Austria as the
Administrative Agent or the Indenture Trustee (as the case may be) may specify from time to
time. Any payment made under or in connection with the Agreement shall be made from and to an
account outside of Austria.
	 
	16.2	 	No Party shall bring or send to, or otherwise produce in, Austria a Stamp Duty Sensitive
Document or communicate in writing other than in compliance with the Stamp Duty Guidelines,
in each case other than in the event that: (i) it does not cause a liability of a Party to
pay stamp duty in the Republic of Austria; (ii) a Party wishes to enforce any of its rights
under or in connection with a Credit Document in any form of proceedings in the Republic of
Austria and is only able to do so by bringing or sending to, or otherwise producing in,
Austria a Stamp Duty Sensitive Document and it would not be sufficient for that Party to
bring or send to, or otherwise produce in, Austria a document that is not a Stamp Duty
Sensitive Document (e.g. a simple/uncertified copy (i.e. a copy which is not an original,
notarised or certified copy) of the relevant Stamp Duty Sensitive Document) for the purposes
of such enforcement; in furtherance of the foregoing, no Party shall (A) object to the
introduction into evidence of an uncertified copy of any Stamp Duty Sensitive Document or
raise a defence to any action or to the exercise of any remedy on the basis of an original or
certified copy of any Stamp Duty Sensitive Document not having been introduced into evidence,
unless such uncertified copy actually introduced into evidence does not accurately reflect
the content of the

- 19 -

 

	 	 	original document and (B) if such Party is a party to proceedings before an Austrian
court or authority, contest the authenticity (Echtheit) of an uncertified copy of any
such Stamp Duty Sensitive Document, unless such uncertified copy actually introduced
into evidence does not accurately reflect the content of the original document; or
(iii) a Party is required by law, governmental body, court, authority or agency
pursuant to any legal requirement (whether for the purposes of initiating,
prosecuting, enforcing or executing any claim or remedy or enforcing any judgment or
otherwise) to bring or send a Stamp Duty Sensitive Document into, or otherwise produce
a Stamp Duty Sensitive Document in, the Republic of Austria.
	 
	16.3	 	The Pledgor shall indemnify the Administrative Agent, each Lender, each Issuing Bank,
the Indenture Trustee and the Collateral Agent against any cost, loss or liability in respect
of Austrian stamp duty unless such cost, loss or liability is incurred as a result of the
Administrative Agent, a Lender, an Issuing Bank, the Indenture Trustee or the Collateral
Agent breaching any obligations under this Clause 16, in which case the breaching party shall
be liable for payment of such stamp duty.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	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 Pledgor:	 	c/o SIG Combibloc Holding GmbH
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	Rurstraße 58	 	 	 	 
	 

	 	 	 	 	 	52441 Linnich	 	 	 	 
	 

	 	 	 	 	 	Germany	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+41 52674 6556	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Attention:
	 	Daniel Petitpierre	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Email:
	 	Daniel.Petitpierre@sig.biz	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	For the Pledgor with a copy to:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	c/o Rank Group Limited	 	 	 	 
	 

	 	 	 	 	 	Suite 2502	 	 	 	 
	 

	 	 	 	 	 	2 Park Street	 	 	 	 
	 

	 	 	 	 	 	Sydney NSW 2000	 	 	 	 
	 

	 	 	 	 	 	Australia	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+64 2 9268 6693	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Email:
	 	helen.golding@rankgroup.co.nz	 	 	 	 

- 20 -

 

	 	 	 	 	 	 	 	 	 	 	 

	 

	 	 	 	Attention:
	 	Helen Golding	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	For the Collateral Agent:	 	Wilmington Trust (London) Limited
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	Third Floor	 	 	 	 
	 

	 	 	 	 	 	1 King’s Arms Yard	 	 	 	 
	 

	 	 	 	 	 	London	 	 	 	 
	 

	 	 	 	 	 	EC2R 7AF	 	 	 	 
	 

	 	 	 	 	 	United Kingdom	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+44 (0)20 7397 3601	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Attention:
	 	Elaine Lockhart	 	 	 	 

	17.2	 	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 representative of the
applicable party to this Agreement provided from time to time by such party.
	 
	17.3	 	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  17 or in accordance with the latest unrevoked direction from such party
given in accordance with this Clause 17.
	 
	17.4	 	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.
	 
	17.5	 	No communication (including fax, electronic message or communication in any other
written form) under or in connection with the Credit Documents shall be made to or from an
address located inside of the Republic of Austria.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.

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	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with
this Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee
however, shall also be entitled to take action against the Pledgor in any other court of
competent jurisdiction. Further, the taking of proceedings against the Pledgor in any one or
more jurisdictions shall not preclude the taking of proceedings in any other jurisdiction
(whether concurrently or not) if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	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.
	 
	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
19.1 above, they will transmit the signed signature page(s) of this Agreement to attention
of Ms Isabel van Bremen or Ms Seraphir Preuss (isabel.vanbremen@cliffordchance.com or
seraphir.preuss@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).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and
the signing authority of the signatories.

- 22 -

 

SIGNATURE PAGE

This Account Pledge Agreement has been entered into on the date stated at the beginning by

	 	 	 	 	 
	SIG Combibloc GmbH & Co KG,

represented by its general partner SIG Combibloc GmbH

as Pledgor

 	 
	By:  	/s/
Jennie Blizard
 	 
	 	Name:  	Jennie Blizard	 
	 	Title:  	Attorney 	 
	 
	Wilmington Trust (London) Limited

as Collateral Agent and Pledgee

 	 
	By:  	/s/ Paul Barton
 	 
	 	Name:  	Paul Barton 	 
	 	Title:  	Relationship Manager 	 

- 23 -

 

	 	 	 	 	 

SCHEDULE 1

PART 1

LIST OF CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

PART 2

LIST OF CURRENT GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

- 24 -

 

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

- 25 -

 

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Reynolds Group Issuer (Luxembourg) S.A.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

- 26 -

 

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

- 27 -

 

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

- 28 -

 

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 3

LIST OF CURRENT SENIOR SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

- 29 -

 

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

- 30 -

 

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

- 31 -

 

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

- 32 -

 

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 4

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

- 33 -

 

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

- 34 -

 

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

- 35 -

 

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

- 36 -

 

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 37 -

 

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 5

LIST OF CURRENT FEBRUARY 2011 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

- 38 -

 

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

- 39 -

 

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

- 40 -

 

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

- 41 -

 

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

- 42 -

 

SCHEDULE 2

LIST OF ACCOUNTS

	 	 	 	 	 	 	 	 	 
	(Sub-) Account	 	Bank Sort Code	 	Name and address of	 	Type of	 	 
	No.	 	(Bankleitzahl)	 	Account Bank	 	account	 	Currency
	335015400

	 	SWIFT:

DEUTDEDDXXX
	 	Deutsche Bank AG,

Königsallee 45/47, 40189

Düsseldorf, Germany
	 	Current
	 	Euro
	 

	 	IBAN:	 	 	 	 	 	 
	 

	 	DE6830070010033501

5400	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	191/8031/002

	 	SWIFT:

TUBDDEDDXXX
	 	HSBC Trinkaus &

Burkhardt KGaA,

Königsallee 21/23, 40212
	 	Current
	 	Euro
	 

	 	IBAN:

DE8030030880191803

1002
	 	Düsseldorf, Germany	 	 	 	 

- 43 -

 

SCHEDULE 3

FORM OF NOTICE OF PLEDGE

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 the Account Pledge Agreement (as defined
below)) 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.

[Letterhead of Pledgor]

	 	 	 	 	 

	Absender/From:

	 	[Pledgor]
	 	 
	 
	 	 	 	 
	An/To:

	 	[Account Bank]	 	 
	 
	 	 	 	 
	Datum/Date:

	 	[•]	 	 

	 	 	 

	Verpfändungsanzeige

	 	Notice of Pledge
	 
	 	 
	Betrifft: Konto Nr. [•]

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

	 	Dear Sirs,
	 
	 	 
	wie Ihnen bekannt ist, haben wir gemäß
eines Kontenverpfändungsvertrags vom 4.
März 2010 (der “Kontenverpfändungsvertrag
1”) alle Ansprüche einschließlich Zinsen
aus dem o.g. Konto (inklusive aller
Unterkonten, etwaigen Neueröffnungen,
Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von
Wilmington Trust (London) Limited
(“Sicherheitentreuhänder”) und anderen
verpfändet. Die Verpfändung umfasst alle
Arten von Kontoguthaben sowie alle daraus
zeitanteilig anfallenden Zinsen. Eine
Kopie des Kontenverpfändungsvertrages 1
hatten wir unseren Schreiben beigefügt.

	 	As you are aware, by an account
pledge agreement dated 4 March
2010 (the “Account Pledge
Agreement 1”) we have pledged
in favour of Wilmington Trust
(London) Limited (the
“Collateral Agent”) and others
all of our right, title and
interest in and to the above
account (which shall include
all sub-accounts, renewals,
replacements, redesignations
and related fixed deposit
accounts thereof) and all
monies and interest from time
to time standing or accruing to
the credit thereof. A copy of
the Account Pledge Agreement 1
was attached to our letters.
	 
	 	 
	Gemäß einen Bestätigungs- und
Ergänzungsvertrag zum
Kontenverpfändungsvertrag 1 vom 27.
August 2010 (der “Bestätigungs-und
Ergänzungsvertrag”) wurde der

	 	Pursuant to a confirmation and
amendment agreement relating to
the Account Pledge Agreement 1
dated 27 August 2010 (the
“Confirmation and Amendment
Agreement”), the Account Pledge

- 44 -

 

	 	 	 

	Kontenverpfändungsvertrag 1
dahingehend bestätigt und ergänzt,
dass, unter anderem, auch die
Erhöhung bestehender Kreditlinien
umfasst wird, die bereits durch den
Kontenverpfändungsvertrag 1
besichert sind. Eine Kopie des
Bestätigungs- und Ergänzungsvertrags
hatten wir unseren Schreiben
beigefügt.

	 	Agreement 1 has been confirmed and
amended to the effect that, inter
alia, it also secures the increase
of existing facilities which are
already secured by the Account
Pledge Agreement 1. A copy of the
Confirmation and Amendment Agreement
was attached to our letters.
	 
	 	 
	Gemäß eines weiteren
Kontenverpfändungsvertrags vom 14.
Januar 2011 (der
“Kontenverpfändungsvertrag 2”) haben
wir bekanntlich alle Ansprüche
einschließlich Zinsen aus dem o.g.
Konto (inklusive aller Unterkonten,
etwaigen Neueröffnungen,
Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von
Wilmington Trust (London) Limited
(“Sicherheitentreuhänder”) und
anderen verpfändet. Die Verpfändung
umfasst alle Arten von Kontoguthaben
sowie alle daraus zeitanteilig
anfallenden Zinsen.

	 	As you are aware, pursuant to an
additional account pledge agreement
dated 14 January 2011 (the “Account
Pledge Agreement 2”) we have pledged
in favour of Wilmington Trust
(London) Limited (the “Collateral
Agent”) and others all of our right,
title and interest in and to the
above account (which
shall include all sub-accounts,
renewals, replacements,
redesignations and related fixed
deposit accounts thereof) and all
monies and interest from time to
time standing or accruing to the
credit thereof.
	 
	 	 
	Hiermit zeigen wir Ihnen an, dass
wir gemäß Ziffer 2.1 des hier in
Kopie beigefügten
Kontenverpfändungsvertrags vom [•]
(der
“KontenverpfÄndungsvertrag
3”) alle Rechte und Ansprüche
bezüglich des o. g. Kontos und aller
sonstigen bei Ihnen geführten Konten
(die “Konten”) (inklusive
aller Unterkonten, etwaiger
Neueröffnungen, Verlängerungen,
Umbenennung und Festgeldkonten) zu
Gunsten von [Collateral Agent] (der
“SicherheitentreuhÄnder”)
verpfändet haben.

	 	We hereby give you notice that
pursuant to Clause 2.1 of a
account pledge agreement dated [•]
(the “Account Pledge Agreement 3”),
a copy of which is attached hereto,
we have pledged in favour of
[Collateral Agent] (the “Collateral
Agent”) all of our rights and claims
in respect of the above account and
all other accounts maintained with
you from time to time (the
“Accounts”) (including all
sub-accounts thereof, renewals,
replacements, redesignations and
related fixed deposit accounts
thereof).
	 
	 	 
	Die Verpfändung umfasst insbesondere
alle Ansprüche auf gegenwärtige und
zukünftige Guthaben (einschließlich
Spareinlagen, Termineinlagen,
Festgeldeinlagen und
Tagesgeldeinlagen) und positive
Salden sowie alle darauf anfallenden
Zinsen.

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

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

- 45 -

 

	 	 	 

	Verfügungen unsererseits über die
Konten und die
Kontenguthaben mehr zuzulassen.

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

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

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

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

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

[name and address of Collateral Agent].

	 	 	 

	Mit freundlichen Grüßen

	 	Yours faithfully

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 46 -

 

[Letterhead of Account Bank]

	 	 	 	 	 

	Absender/From:

	 	[Account Bank]
	 	 
	 
	 	 	 	 
	An/ To:

	 	[Collateral Agent]	 	 
	 

	 	und/and	 	 
	 

	 	[SIG Combibloc Holding GmbH]	 	 
	 
	 	 	 	 
	Datum/ Date:

	 	[•]	 	 

	 	 	 

	Bestätigung des Empfangs einer
Verpfändungsanzeige

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

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

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

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

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

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

	 	We hereby irrevocably and
unconditionally waive our rights in
respect of and agree not to make any
set-off from the Accounts or invoke
any rights of retention in relation to
the Accounts; it being understood that
the balancing of current accounts
shall be permitted and that
account-keeping fees and returned
cheques may furthermore be debited
without restriction.
	 
	 	 
	Des Weiteren erklären wir
hiermit, dass wir das aufgrund
unserer Allgemeinen
Geschäftsbedingungen an den
Konten

	 	We hereby release the pledge granted
in our favour in respect of the
Accounts pursuant to our General
Business Conditions.

- 47 -

 

	 	 	 

	bestehende Pfandrecht aufgeben.
	 	 
	 
	 	 
	Dieses Schreiben unterliegt deutschem Recht.

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

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

	 	Yours faithfully

[Account Bank]

_____________________________

([Name des Unterzeichners/name of signatory])

- 48 -

 

SCHEDULE 4

FORM OF NOTIFICATION OF FUTURE ACCOUNTS

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 the Account Pledge Agreement (as defined
below)) 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.

	 	 	 

	From:

	 	[Pledgor]
	 
	 	 
	To:

	 	[Collateral Agent], on its own behalf and for and on behalf of the
Secured Parties (as defined in the Account Pledge Agreement, as
defined below)
	 
	 	 
	Date:

	 	[Date of Notification]
	 
	 	 
	Re:

	 	Account pledge agreement dated [date of this Agreement] between us
as pledgor and you (the “Account Pledge Agreement”)

Dear Sirs,

In accordance with Clause 8.3 of the Account Pledge Agreement, we hereby give you notice
that we [will open/have opened] the following bank account (the “New Account”):

	 	 	 	 	 	 	 
	(Sub-) Account No.	 	Bank Sort Code (Bankleitzahl)	 	Name and address of Account Bank (the “Account Bank”)	 	Type of Account
	[•]

	 	[•]
	 	[•]
	 	[•]

Capitalised terms not otherwise defined herein shall have the meaning ascribed thereto in the
Account Pledge Agreement.

We hereby confirm that all our present and future rights and claims (whether conditional or
unconditional) arising against the Account Bank from or in relation to the New Account (as
specified in Clause 2.1 of the Account Pledge Agreement) are pledged to the Pledgee pursuant
to the Account Pledge Agreement as security for the Obligations. We expressly acknowledge

- 49 -

 

that all obligations imposed on us in the Account Pledge Agreement in respect of the Accounts
also apply for the New Account.

[In accordance with Clause 8.3 of the Account Pledge Agreement, we enclose a copy of the
notice of pledge we have given to the Account Bank in respect of the New Account as well as
an original copy of the acknowledgement countersigned by the Account Bank.]

	 	 	 	 	 
	[Pledgor]

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	Managing Director (Geschäftsführer) 	 

- 50 -

 

	 	 	 	 	 

SCHEDULE 5

STAMP DUTY GUIDELINES

	1.	 	Introduction
	 
	1.1	 	These stamp duty guidelines (the “Guidelines”) shall apply to all written communication
of the parties to this Agreement of which this Schedule 5 forms part.
	 
	1.2	 	In these Guidelines, unless a contrary indication appears a term defined in the Agreement
(including by way of reference) has the same meaning when used in these Guidelines.
	 
	2.	 	Guidelines for Written Communication
	 
	2.1	 	Signed written communication that records or otherwise provides evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body
of the relevant communication, a schedule, an attachment, an annex or an appendix referred to
therein or incorporated by reference (Bezugnahme), may only be made from an address outside
of the Republic of Austria to an address outside of the Republic of Austria. For the
avoidance of doubt, e-mails where the server on which such e-mails will be received or from
which such e-mails will be sent is located in the Republic of Austria (e.g. this may be
indicated by an e-mail address having a country code top level domain “.at”) or other e-mail
addresses where the person sending or the person receiving such e-mail have their ordinary
workplace
(Arbeitsplatz) in the Republic of Austria must not be signed (see also clause 2.2. and
2.3. below).
	 
	2.2	 	Letters that record or otherwise provide evidence of a transaction (Rechtsgeschäft)
contemplated by, or referenced in, any Credit Document, whether in the body of the letter, a
schedule, an attachment, an annex or an appendix referred to therein or incorporated by
reference (Bezugnahme), may only be brought or sent into, or produced in, the Republic of
Austria in the following format (provided that no Stamp Duty Sensitive Document is attached):
	 
	 	 	[party’s letterhead]
	 
	 	 	Dear....,
	 
	 	 	[text of message]
	 
	 	 	Kind regards

- 51 -

 

	 	 	NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	NO CONTACT DETAILS
	 
	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT
	 
	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED
	 
	2.3	 	E-mails and fax messages that record or otherwise provide evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in
the body of the e-mail or fax, a schedule, an attachment, an annex or an appendix
referred to therein or incorporated by reference (Bezugnahme), may only be brought or
sent into, or produced in, the Republic of Austria if in the following format
(provided that no Stamp Duty Sensitive Document is attached):
	 
	 	 	Dear....,
	 
	 	 	[text of message].
	 
	 	 	Kind regards
	 
	 	 	NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	NO CONTACT DETAILS OR OTHER AUTOMATICALLY GENERATED FOOTERS THAT REFER TO A PARTY
	 
	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT
	 
	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED
	 
	 	 	In addition, the footer of such e-mails must not contain the company name, contact
details or any other information allowing identification of the sender. The company
name, contact details etc. of the original sender of a reply or forwarded message need
not be deleted.

- 52 -exv4w440

Exhibit 4.440

SIG AUSTRIA HOLDING GMBH

as Pledgor

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent and Pledgee

 

ACCOUNT PLEDGE AGREEMENT

(Kontoverpfändung)

 

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of this document) in Austria or sending any e-mail communication
to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any Credit Document to an
Austrian addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original
document as well as all certified copies thereof and written and signed references to it outside of
Austria and avoid printing out any email communication which refers to any Credit Document in
Austria or sending any e-mail communication to which a pdf scan of this document is attached to an
Austrian addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee.

 

 

CONTENTS

	 	 	 	 	 	 	 
	Clause	 	 	 	Page	 
	 	 	 	 	 	 	 
	1.
	 	Definitions and Language	 	 	- 4 -	 
	2.
	 	Pledge	 	 	- 11 -	 
	3.
	 	Purpose of the Pledge	 	 	- 12 -	 
	4.
	 	Notice of Pledge	 	 	- 12 -	 
	5.
	 	Pledgor's Right of Disposal	 	 	- 13 -	 
	6.
	 	Enforcement of the Pledge	 	 	- 13 -	 
	7.
	 	Austrian Limitations on Enforcement	 	 	- 14 -	 
	8.
	 	Undertakings of the Pledgor	 	 	- 15 -	 
	9.
	 	Delegation	 	 	- 17 -	 
	10.
	 	Indemnity	 	 	- 17 -	 
	11.
	 	No liability	 	 	- 17 -	 
	12.
	 	Duration and Independence	 	 	- 17 -	 
	13.
	 	Release (Pfandfreigabe)	 	 	- 18 -	 
	14.
	 	Partial Invalidity; Waiver	 	 	- 18 -	 
	15.
	 	Amendments	 	 	- 19 -	 
	16.
	 	Austrian Stamp Duty	 	 	- 19 -	 
	17.
	 	Notices and their Language	 	 	- 20 -	 
	18.
	 	Applicable Law, Jurisdiction	 	 	- 21 -	 
	19.
	 	Conclusion of this Agreement
(Vertragsschluss)	 	 	- 22 -	 
	Schedule 1	 	 	- 24 -	 
	Part 1 List of Current Borrowers	 	 	- 24 -	 
	Part 2 List of Current Guarantors	 	 	- 24 -	 
	Part 3 List of Current Senior Secured Notes Guarantors	 	 	- 29 -	 
	Part 4 List of Current October 2010 Secured Notes Guarantors	 	 	- 33 -	 
	Part 5 List of Current February 2011 Secured Notes Guarantors	 	 	- 38 -	 
	Schedule 2 List of Accounts	 	 	- 43 -	 
	Schedule 3 Form of Notice of Pledge	 	 	- 44 -	 
	Schedule 4 Form of Notification of Future Accounts	 	 	- 49 -	 
	Schedule 5 Stamp Duty Guidelines	 	 	- 51 -	 

 

 

This ACCOUNT PLEDGE AGREEMENT (the “Agreement”) is made on 7 June 2011

BETWEEN:

	(1)	 	SIG Austria Holding GmbH, having its business address as at the date of this Agreement at
IndustriestraBe 3 A-5760 Saalfelden, Austria and registered in the Austrian companies register
(Finnenbuch) under FN 236071 P (the “Pledgor”); and
	 
	(2)	 	Wilmington Trust (London) Limited, a private limited company whose registered number is
05650152 and whose registered office address as at the date of this Agreement is at Third Floor, 1
King’s Arms Yard, London, EC2R 7AF, United Kingdom, in its capacity as collateral agent under the
First Lien Intercreditor Agreement (as defined below) (the “Collateral Agent” or the “Pledgee”).

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November 2009 (as
amended and/or restated by the Amendment No.1 (as defined below), by the Amendment No.2 and
Incremental Term Loan Assumption Agreement (as defined below), by the Amendment No.3 and
Incremental Term Loan Assumption Agreement (as defined below), by the Amendment No.4 and
Incremental Term Loan Assumption Agreement (as defined below) and by the Amendment No.5 (as defined
below» between, inter alia, the parties listed in Part I of Schedule 1 hereto as current borrowers
(the “Current Borrowers”), the parties listed in Part 2 of Schedule 1 hereto as current guarantors
(the “Current Guarantors”), Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman
Islands Branch) as administrative agent and others (as further amended, varied, novated, restated,
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 or may have acceded to the Credit Agreement as additional
borrowers.
	 
	(B)	 	Pursuant to a senior secured notes 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 I as
current senior secured notes guarantors (the “Current Senior Secured Notes 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 Notes 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.

- 2 -

 

	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia, RGHL US
Escrow I LLC, RGHL US Escrow I Inc., and RGHL Escrow Issuer (Luxembourg) I S.A. as escrow issuers
(the “Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The Bank of New York
Mellon, London Branch as principal paying agent, The Bank of New York Mellon as Collateral Agent
and Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “October 2010 Secured Notes
Indenture”), the Escrow Issuers have issued secured notes due 2019 in the aggregate principal
amount of USD 1,500,000,000 in escrow (the “October 2010 Secured Notes”). In connection with the
release from escrow of the proceeds of the October 2010 Secured Notes, which occurred on 16
November 2010, the Escrow Issuers were merged with and into the Issuers, with each of the Issuers
surviving the applicable mergers or other transfers and assuming by operation of law the
obligations of the applicable Escrow Issuers with respect to the October 2010 Secured Notes
Indenture and the October 2010 Secured Notes. Certain affiliates of the Issuers listed in Schedule
1Part 4 have acceded to the October 2010 Secured Notes Indenture as new secured notes guarantors
(the “Current October 2010 Secured Notes Guarantors”).
	 
	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia, the
Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon, London
Branch as principal paying agent, The Bank of New York Mellon as Collateral Agent and Wilmington
Trust (London) Limited as collateral agent (as amended, varied, novated, supplemented, superseded
or extended from time to time, the “February 2011 Secured Notes Indenture”), the Issuers have
issued secured notes due 2021 in the aggregate principal amount of USD 1,000,000,000 (the “February
2011 Secured Notes”) which are guaranteed by certain affiliates of the Issuers listed in Schedule
1Part 5 as current February 2011 secured notes guarantors (the “Current February 2011 Secured Notes
Guarantors”).
	 
	(E)	 	The Pledgor has entered into the Existing Account Pledge Agreements (as defined below).
	 
	(F)	 	As a result of the amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Credit Agreement between, inter alia, the Current Borrowers, the
Current Guarantors, Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman Islands
Branch) as administrative agent and others (the “Amendment No. 4 and Incremental Term Loan
Assumption Agreement”) the Credit Agreement inter alia includes new incremental term facilities.
	 
	(G)	 	As a result of the amendment No. 5 dated 11 March 2011 relating to the Credit Agreement
between, inter alia, the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman
Islands Branch (formerly Credit Suisse, Cayman Islands Branch)

- 3 -

 

	 	 	as administrative agent and others (the “Amendment No. 5”) certain amendments in respect of the
permitted indebtedness provisions were made to the Credit Agreement.
	 
	(H)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges existing by
operation of the general business conditions (Allgemeine Geschäftsbedingungen) of the respective
Account Bank (as defined below) and the pledges arising under the Existing Account Pledge
Agreements (as defined below)) over its Accounts (as defined below) as security for the Pledgee’s
claims against the Grantors (as defined below) (or any of them) in respect of the Obligations (as
defined below).
	 
	(I)	 	The security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for the Secured Parties (as defined below) pursuant to a first lien intercreditor agreement
dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder Agreement (as defined below)) between, inter alia, the Collateral Agent, the
Indenture Trustee, the Administrative Agent and the Grantors (each as defined below) and others (as
amended, varied, novated, supplemented, superseded or extended from time to time, the “First Lien
Intercreditor Agreement”).

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the credit institutions administering the Accounts and “Account Bank” means
any of them.
	 
	 	 	“Accounts” means all bank accounts (including without limitation giro accounts and accounts for
saving deposits (Spareinlagen), time deposits (Termineinlagen) or call money deposits
(Tagesgeldeinlagen)) which the Pledgor holds at present or may at any time hereafter open with any
credit institution in the Federal Republic of Germany (including without limitation the accounts
listed in Schedule 2 (List of Accounts) and any sub-account (Unterkonto), renewal, redesignation or
replacement thereof, and “Account” means any of them.
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its business address
at Eleven 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.
	 
	 	 	“Amendment No.1” means the amendment agreement dated 21 January 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement as of
such date, the Administrative Agent and others.

- 4 -

 

	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January 2010 relating
to the First Lien Intercreditor Agreement made among (amongst others) The Bank of New York Mellon,
Wilmington Trust (London) Limited, Credit Suisse AG and Reynolds Group Holdings Limited pursuant to
which Wilmington Trust (London) Limited was appointed as additional collateral agent and became
party to the First Lien Intercreditor Agreement.
	 
	 	 	“Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 4 May 2010 relating to the Credit Agreement
between, inter alia, the borrowers and the guarantors under the Credit Agreement as of such date,
the Administrative Agent and others.
	 
	 	 	“Amendment No. 3 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 30 September 2010 relating to the Credit Agreement
between, inter alia, the borrowers and the guarantors under the Credit Agreement as of such date,
the Administrative Agent and others.
	 
	 	 	“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 N.A., 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.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Notes Documents, the October
2010 Secured Notes Documents and the February 2011 Secured Notes 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 Notes Indenture and/or the October 2010 Secured Notes Indenture and/or the
February 2011 Secured Notes Indenture.
	 
	 	 	“Existing Account Pledge Agreements” means

	 	(a)	 	the account pledge agreement dated 4 March 2010 (as amended by a confirmation and amendment
agreement dated 27 August 2010) entered into between SIG Austria Holding GmbH as pledgor and
Wilmington Trust (London) Limited as collateral agent and as pledgee and others as pledgees;

- 5 -

 

	 	(b)	 	the confirmation and amendment agreement dated 27 August 2010 and entered into between, inter
alios, SIG Austria Holding GmbH as pledgor and Wilmington Trust (London) Limited as collateral
agent relating to an account pledge agreement dated 4 March 2010 and entered into between SIG
Austria Holding GmbH as pledgor and Wilmington Trust (London) Limited as collateral agent and as
pledgee and others as pledgees; and
	 
	 	(c)	 	the account pledge agreement dated 14 January 2011 and entered into between SIG Austria Holding
GmbH as pledgor and Wilmington Trust (London) Limited as collateral agent and as pledgee.

	 	 	“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, as amended and
restated on 5 November 2009 and as further amended on 5 November 2010) 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 (formerly Credit Suisse) as security trustee and
others.
	 
	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes Indenture, the
February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the Intercreditor
Arrangements, any supplemental indenture, any security document relating to the February 2011
Secured Notes and/or the February 2011 Secured Notes Indenture and any other document that may be
entered into pursuant to any of the foregoing.
	 
	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes Indenture by the
February 2011 Secured Notes Guarantors.
	 
	 	 	“February 2011 Secured Notes Guarantors” means the Current February 2011 Secured Notes Guarantors
and any entity which may accede to the February 2011 Secured Notes Indenture as additional
guarantor.
	 
	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the February 2011
Secured Notes.
	 
	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in its
capacity as indenture trustee under the February 2011 Secured Notes Indenture and any successor
appointed as indenture trustee under the February 2011 Secured Notes Indenture.
	 
	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Notes Guarantors, the October
2010 Secured Notes Guarantors and the February 2011 Secured Notes 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, the Senior Secured Notes Guarantors, the October
2010 Secured Notes Guarantors and the February 2011 Secured Notes Guarantors under the Credit Documents and “Grantor” means any of them.

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	 	 	“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 750,000,000 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 Notes Indenture and any successor appointed as indenture trustee under the
Senior Secured Notes Indenture.
	 
	 	 	“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.

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	 	 	“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, the Amendment No.1, the Amendment No. 1 and
Joinder Agreement, the Amendment No. 2 and Incremental Term Loan Assumption Agreement, the
Amendment No. 3 and Incremental Term Loan Assumption Agreement, the Amendment No. 4 and Incremental
Term Loan Assumption Agreement, the Amendment No. 5, 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 HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG, Commerzbank
Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of America,
N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co., Ltd., Banco
Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of America, N.A., 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 Pledgee under each or any of the Credit Documents (including, but not limited to,
the Parallel Obligations), including with respect to all costs, charges and expenses incurred by
the Pledgee in connection with the protection, preservation or enforcement of its 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).
	 
	 	 	“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes Indenture, the
October 2010 Secured Notes Guarantees, the October 2010 Secured Notes, the Intercreditor
Arrangements, any security document relating to the

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	 	 	October 2010 Secured Notes and/or the October 2010 Secured Notes Indenture and any other document
that may be entered into pursuant to any of the foregoing.
	 
	 	 	“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations of the Issuers
under the October 2010 Secured Notes and the October 2010 Secured Notes Indenture by the October
2010 Secured Notes Guarantors.
	 
	 	 	“October 2010 Secured Notes Guarantors” means the Current October 2010 Secured Notes Guarantors and
any entity which may accede to the October 2010 Secured Notes Indenture as additional guarantor.
	 
	 	 	“October 2010 Secured Notes Holders” shall mean the holders from time to time of the October 2010
Secured Notes.
	 
	 	 	“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in its
capacity as indenture trustee under the October 2010 Secured Notes Indenture and any successor
appointed as indenture trustee under the October 2010 Secured Notes Indenture.
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors arising pursuant to
the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal to the sums owed
by such Grantor to the other Secured Parties (or any of them) under the Credit Documents.
	 
	 	 	“Pledge” has the meanings given to such term in Clause 2.1.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Notes Indenture, the
October 2010 Secured Notes Indenture, the February 2011 Secured Notes 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 Notes Holders, the October 2010 Secured Notes
Holders, the February 2011 Secured Notes Holders, the Indenture Trustee, the October 2010 Secured
Notes Indenture Trustee, the February 2011 Secured Notes Indenture Trustee, the Collateral Agent,
the Local Facility Providers and the Cash Management Banks.
	 
	 	 	“Senior Secured Notes Documents” shall mean the Senior Secured Notes Indenture, the Senior Secured
Notes Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any supplemental
indenture, any security document relating to the Senior Secured Notes and/or the Senior Secured
Notes Indenture and any other document that may be entered into pursuant to any of the foregoing.
	 
	 	 	“Senior Secured Notes Guarantees” shall mean the guarantees of the obligations of the Issuers under
the Senior Secured Notes and the Senior Secured Notes Indenture by the Senior Secured Notes
Guarantors.

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	 	 	“Senior Secured Notes Guarantors” means the Current Senior Secured Notes Guarantors and any entity
which may accede to the Senior Secured Notes Indenture as additional guarantor.
	 
	 	 	“Senior Secured Notes Holders” shall mean the holders from time to time of the Senior Secured
Notes.
	 
	 	 	“Stamp Duty Sensitive Document” shall mean (a) any original of any Credit Document and (b) any
signed document (including email, PDF, TIF and other comparable formats) that constitutes a deed
(Urkunde) within the meaning of section 15 of the Austrian Stamp Duty Act (as interpreted by the
Austrian tax authorities), whether documenting or confirming the entering into of the relevant
transaction (rechtserzeugende Urkunde) or documenting that the relevant transaction has been
entered into (rechtsbezeugende Urkunde), or a substitute deed (Ersatzurkunde) within the meaning of
section 15 of the Austrian Stamp Duty Act (as interpreted by the Austrian tax authorities),
including, without limitation, any notarized copy, any certified copy and any written minutes
recording the transactions (Rechtsgeschäfte) contemplated by, or referenced in, any Credit
Document.
	 
	 	 	“Stamp Duty Guidelines” means the stamp duty guidelines set out in Schedule 5 (Stamp Duty
Guidelines).
	 
	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” or a “Schedule” shall, subject to any contrary
indication, be construed as a reference to a Clause or a Schedule hereof.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement. However,
where a German translation of a word or phrase appears in the text of this Agreement, the German
translation of such word or phrase shall prevail.
	 
	1.4	 	The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this Agreement
are on the basis of authority conferred under the Principal Finance Documents
to which the Collateral Agent is a party, and on directions given in accordance with the Principal
Finance Documents. In so acting, the Collateral Agent shall have, subject to the terms of the
Principal Finance Documents, the protections, immunities, rights, indemnities and benefits
conferred on the collateral agent under the Principal Finance Documents.

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	1.5	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act on
the instructions of the other Secured Parties in accordance with Section 2.02(a) of the First Lien
Intercreditor Agreement. It is further acknowledged that the Collateral Agent may assume that any
and all instructions received by it from the other Secured Parties (acting in accordance with the
Principal Finance Documents) under this Agreement are reasonable, and that any question as to the
reasonableness or otherwise of such instructions shall be determined as between the other Secured
Parties (or any one or more representatives of the Secured Parties acting in accordance with the
Principal Finance Documents) and the Pledgor.
	 
	1.6	 	In the case of any references in this Agreement to the Secured Parties acting through the
Collateral Agent or to the Collateral Agent acting for or on behalf of the Secured Parties, it is
acknowledged that the Pledgee and/or the Secured Parties shall at all times be represented in
accordance with the First Lien Intercreditor Agreement and the Collateral Agent act only on the
instructions given in accordance with the First Lien Intercreditor Agreement.
	 
	1.7	 	Solely for the purposes of Clause 16 (Austrian Stamp Duty) and Schedule 5 (Stamp Duty
Guidelines), “written” shall mean that what is
“written” was translated into letters (Buchstaben)
that are or can be made visible on a physical or electronic device of whatever type and format,
including paper and screen, and, accordingly, communication, documents or notices being “in
writing” shall include not only paper-form (letter or fax) communication, documents or notices but
also electronic communication, documents or notices, including by way of e-mail; and “signed”
communication, documents or notices refers to written communication, documents or notices that
carry a manuscript, digital or electronic or other technically reproduced signature, and
“signature” shall be construed accordingly.
	 
	2.	 	PLEDGE
	 
	2.1	 	The Pledgor hereby pledges to the Pledgee all its present and future rights and claims (whether
conditional or unconditional) arising against any Account Bank from or in relation to any of the
Accounts, including without limitation:

	 	(a)	 	all rights and claims in respect of present and future cash deposits (Guthaben) (including
without limitation saving deposits (Spareinlagen), time deposits (Termineinlagen) (including fixed
deposits (Festgeldguthaben) and termination monies (Kündigungsgelder)) and call money deposits
(Tagesgeldeinlagen) (including deposits for overnight money, tom/next money, spot/next money and
money until further notice (Geld b .a. w.)) standing from time to time to the credit of the
Accounts, including all claims to interest payable;

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	 	(b)	 	in respect of each Account maintained as a giro account (Girokonto) at present or in the
future, (i) all claims in respect of present and future credit balances (positive Salden), (ii) all
claims in respect of present and future credit entries (gutgeschriebene Beträge), (iii) all claims
to interest payable and (iv) all other present and future monetary rights and claims arising under
or in connection with the respective giro agreement (Girovertrag) (including without limitation all
claims to the grant of a credit entry (Gutschriftanspruch)); and
	 
	 	(c)	 	in respect of each Account maintained as a current account (Kontokorrentkonto) at present or in
the future, all present and future rights and claims arising under or in connection with the
respective current account agreement (Kontokorrentabrede) (including without limitation all claims
to determination and acknowledgement of the current account balance (Anspruch auf Saldofeststellung
und -anerkennung), all claims to present and future current account balances (Saldoforderungen)
including the causal final balance (kausaler Schlusssaldo) and the right to terminate the current
account relationship (Kündigung des Kontokorrents)).

	 	 	(the “Pledge”).
	 
	2.2	 	The Pledgee hereby accepts the Pledge.
	 
	2.3	 	The Pledge is in addition, and without prejudice, to any other security the Secured Parties may
now or hereafter hold in respect of the Obligations.
	 
	3.	 	PURPOSE OF THE PLEDGE
	 
	 	 	The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction of any
and all Obligations. The Pledge shall also cover any future extension of the Obligations and the
Pledgor herewith expressly agrees that the provisions of Section 1210 para 1 sentence 2 of the
German Civil Code (Bürgerliches Gesetzbuch) shall not apply to this Agreement.
	 
	4.	 	NOTICE OF PLEDGE
	 
	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but not
later than twenty business days after the date of this Agreement, and, in relation to any Account
opened after the date of this Agreement, within ten business days after such new Account has been
opened, notify each Account Bank and any other relevant third party of the Pledge by delivering a
notification substantially in the form set out in Schedule 3 (Form of Notice of Pledge) by
registered mail (Einschreiben mit Rückschein). The Pledgor shall provide the Collateral Agent with
a copy of each such notification and of the corresponding return receipt (Rückschein). In addition,
the Pledgor shall use all reasonable efforts to procure that each Account

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	 	 	Bank promptly acknowledges receipt of the respective notification, and acceptance of the terms
thereof, to the Collateral Agent and to the Pledgor.
	 
	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 and, in the case of
future Accounts, Clause 8.3, the Pledgor hereby authorises the Collateral Agent and
releases it for this purpose from the restrictions of self-dealing under Section 181 of the German
Civil Code to notify each Account Bank and any other relevant third party on its behalf of this
Agreement and the Pledge constituted hereunder by delivering a notification substantially in the
form set out in Schedule 3 (Form of Notice of Pledge), or in such substantially similar form as the
Collateral Agent (acting on behalf of the Secured Parties) deems appropriate, provided that the
Collateral Agent may only make use of this authorisation if the Pledgor has not complied with the
obligations imposed on the Pledgor in Clause 4.1 within 10 business days of being notified of such
failure (with a copy of such notice being sent to Reynolds Group Holdings Limited) and being
requested to comply or if an Enforcement Event has occurred and is continuing.
	 
	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause 4.1
above whilst an Enforcement Event is not continuing if the Pledgor can prove to the Collateral
Agent (acting on behalf of the Secured Parties) that notifying the relevant Account Bank of the
Pledge created hereunder would not be consistent with, whilst an Enforcement Event is not
continuing, the Pledgor retaining control over and the ability to freely use the balance of any
such Account. The Collateral Agent will not be required to use its discretion but will take
instructions in accordance with the First Lien Intercreditor Agreement whether or not to agree with
the Pledgor’s analysis under this Clause 4.3. For the avoidance of doubt, at the date of this
Agreement the Pledgor agrees that notifying the Account Banks of the Pledge created hereunder is
not inconsistent with the Pledgor retaining control over and the ability to freely use the balance
of any Account existing at the date of this Agreement.
	 
	5.	 	PLEDGOR’S RIGHT OF DISPOSAL
	 
	 	 	The Pledgor may exercise all rights and powers in respect of each Account until the Collateral
Agent gives notice to the contrary to the Account Bank with a copy to the Pledgor. The Pledgee may
give such notice only if an Enforcement Event has occurred and is continuing.
	 
	6.	 	ENFORCEMENT OF THE PLEDGE
	 
	6.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set forth
in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the enforcement of
the Pledge are met (Pfandreife), in particular, if any of the Obligations has become due and
payable, then in order to enforce the Pledge, the Collateral Agent (acting on the instructions of
the Secured Parties) may on its own

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	 	 	behalf at any time thereafter avail itself of all rights and remedies that a pledgee has against a
pledgor under the laws of the Federal Republic of Germany.
	 
	6.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise its
rights without obtaining an enforceable judgment or other instrument (vollstreckbarer Titel). The
Pledgee shall be entitled to have the Pledge enforced in any manner allowed under the laws of the
Federal Republic of Germany.
	 
	6.3	 	The Pledgee will notify the Pledgor five business days prior to the enforcement of the Pledge
according to Clause 6. No such notification shall be required if (i) the Pledgor has generally
ceased to make payments (Zahlungseinstellung), (ii) an application for the institution of
insolvency proceedings is filed by or against the Pledgor or (iii) the Pledgee has reasonable
grounds to believe that observance of the notice period will adversely affect the legitimate
interests (berechtigte Interessen) of the Pledgee.
	 
	6.4	 	If the Pledgee (acting on instructions of the Secured Parties) should seek to enforce the
Pledge pursuant to Clause 6.1 hereof, the Pledgor shall, at its own expense, render forthwith all
necessary assistance in order to facilitate the prompt realisation of the Pledge and/or the
exercise by the Pledgee of any other right it may have as Pledgee.
	 
	6.5	 	The Pledgee may, in its sole discretion, determine which of several security interests (created
under this or other security agreements) shall be used to satisfy the Obligations.
	 
	6.6	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der Anfechtbarkeit) and
set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil Code.
	 
	6.7	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	6.8	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any part
of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor -
Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall pass to
the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before, on or after
an enforcement of the Pledge, and as a result of the Pledgor entering into this Agreement, be
entitled to demand indemnification or compensation from a Grantor or any affiliate of a Grantor or
assign any of these claims.
	 
	7.	 	AUSTRIAN LIMITATIONS ON ENFORCEMENT
	 
	 	 	The Pledgor and the Pledgee agree that the Pledge shall not be enforced if and to the extent that
such application would violate mandatory Austrian capital maintenance

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	 	 	rules (Kapitalerhaltungsvorschriften) as amended from time to time and as interpreted by the
Austrian Supreme Court from time to time pursuant to Austrian company law, in particular Sections
82 et seq of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit
beschränkter Haftung) and/or Sections 52 and 65 et seq of the Austrian Stock Corporation Act
(Aktiengesetz). This limitation on the enforcement of the Pledge applies from the date this
Agreement enters into force as well as on any date until the termination date of this Agreement,
particularly on the date of a possible enforcement of the Pledge and the payments thereunder.
	 
	8.	 	UNDERTAKINGS OF THE PLEDGOR
	 
	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this Agreement,
the Pledgor undertakes to the Pledgee:
	 
	8.1	 	subject to Clause 4.3 to use all reasonable efforts to procure that each Account Bank releases
any existing lien, including without limitation any pledge existing by operation of its general
business conditions (Allgemeine Geschäftsbedingungen), and waives any right of set-off and right of
retention in respect of the Accounts by countersigning and returning an acknowledgement of notice
of pledge substantially in the form set out in Schedule 3 (Form of Notice of Pledge) to the Pledgor
and the Pledgee;
	 
	8.2	 	to instruct each Account Bank to provide the Pledgee following receipt by the relevant Account
Bank of a notice pursuant to Clause 5 with all information requested by it in respect of the
Accounts and to that extent to release each Account Bank from its obligation to maintain
confidentiality (Bankgeheimnis) by delivering a notice of pledge to the respective Account Bank in
accordance with the requirements set out in Clause 4.1 or, in the case of any future Account,
Clause 8.3. The Pledgor undertakes not to revoke such instruction during the term of this
Agreement, other than in respect of an Account which is closed or disposed of in accordance with
the terms of the Credit Documents;
	 
	8.3	 	to notify the Pledgee without undue delay substantially in the form set out in Schedule 4 (Form of Notification of Future Accounts) of each new bank account opened by the Pledgor with a
credit institution in the Federal Republic of Germany in accordance with Clause 4 above. For the
avoidance of doubt, the Pledgor is aware that any new bank account opened within the Federal
Republic of Germany will become an Account in the meaning of this Agreement upon notice to the
Account Bank and will be subject to the Pledge and the obligations assumed by the Pledgor hereunder
without any further agreement;
	 
	8.4	 	to close any of the Accounts only upon giving 5 business days prior notice to the Pledgee and
provided that the Pledgee has not given a notice pursuant to Clause 5;

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	8.5	 	to deliver to the Pledgee, within three months after the end of each calendar year ending after
January 2011, and at any time upon reasonable request of the Pledgee, up-to date account statement
sheets (Kontoauszüge) showing the balance on each of the Accounts, provided that the Pledgee shall
not request such information more than one additional time in any one year prior to the occurrence
of an Enforcement Event and while it is continuing;
	 
	8.6	 	with regard to any account books (Sparbücher) and any other documents which are necessary to
dispose over (verfügen) any of the Accounts, the Pledgor undertakes to deliver the originals of
such documents to the Pledgee without undue delay if the Pledgee has given notice pursuant to
Clause 5 and to deliver to the Pledgee upon its reasonable request following such event without
undue delay any documents or other information concerning the Accounts, in particular (but not
limited to) the account opening documents and any agreements between the Account Bank and the
Pledgor in relation to the Accounts;
	 
	8.7	 	not to grant to any third party any rights in respect of the Accounts (keine Und-Konten oder
Oder-Konten oder sonstige Rechte Dritter) (other than those arising under the relevant Account
Bank’s general business conditions (Allgemeine Geschäftsbedingungen) and under
the Existing Account Pledge Agreements) without the prior written consent of the Collateral Agent
(as instructed in accordance with the Principal Finance Documents (such consent not to be
unreasonably withheld by the relevant Secured Parties));
	 
	8.8	 	to inform the Pledgee without undue delay of any attachment (Pfändung) and any third parties
bringing claims in respect of any of the Accounts, such notice to be accompanied by any documents
the Pledgee might need to defend itself against any claim by a third party. In the case of any
attachment (Pfändung) in respect of any of the Accounts, the Pledgor undertakes to forward to the
Pledgee without undue delay a copy of the attachment order (Pfändungsbeschluss), any transfer order
(Überweisungsbeschluss) and all other documents necessary for a defence against the attachment. The
Pledgor shall inform the attaching creditor of the Pledge without undue delay;
	 
	8.9	 	except as otherwise agreed pursuant to the Principal Finance Documents, insofar as additional
declarations or actions are necessary for the creation of the Pledge, the Pledgor shall, at the
Collateral Agent’s request (acting on the reasonable instructions of the Secured Parties), make
such declarations and undertake such actions at the Pledgor’s costs and expenses; and
	 
	8.10	 	for the avoidance of doubt, notification and delivery
requirements as set out in sub-Clauses
8.38.4, 8.5, 8.6 and 8.8 of this Agreement are deemed to be satisfied if and to the extent such
information has been delivered under the Existing Account Pledge

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	 	 	Agreements provided that such notification or delivery to the Pledgee makes reference to this
Agreement and each Existing Account Pledge Agreement.
	 
	9.	 	DELEGATION
	 
	 	 	The Pledgee 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 Pledgee shall only remain liable for diligently selecting and providing initial
instructions to such delegate.
	 
	10.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the Pledgee,
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 Pledgor 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 Pledge.
	 
	11.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee, 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 Pledgee, 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.
	 
	12.	 	DURATION AND INDEPENDENCE
	 
	12.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if the Grantors under the Credit Documents have
only temporarily discharged the Obligations.
	 
	12.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the Credit
Documents shall affect the validity or the scope of this Agreement nor the obligations which are
imposed on the Pledgor pursuant to it.
	 
	12.3	 	This Agreement is independent from any other security or guarantee which may have been or will
be given to the Pledgee. None of such other security shall prejudice, or shall be prejudiced by, or
shall be merged in any way with this Agreement.

- 17 -

 

	12.4	 	Waiving Section 418 of the German Civil Code, the Pledgor 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.
	 
	13.	 	RELEASE (PFANDFREIGABE)
	 
	13.1	 	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
practical declare in writing the release of the Pledge (Pfandfreigabe) to the Pledgor as a matter
of record. For the avoidance of doubt, the parties are aware that upon full and complete
satisfaction of the Obligations the Pledge, due to its accessory nature (Akzessorietät), ceases to
exist by operation of German mandatory law.
	 
	13.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any of
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”) not only temporarily, the Pledgee shall on demand of the Pledgor release
such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in accordance with
the First Lien Intercreditor Agreement) may determine so as to reduce the realisable value of the
Security to the Limit.
	 
	13.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement) will as
soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to the
Pledgor in accordance with, and to the extent required by, the Intercreditor Arrangements.
	 
	14.	 	PARTIAL INVALIDITY; WAIVER
	 
	14.1	 	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 (including Austrian law, in
particular Austrian capital maintenance rules), 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 to be replaced with such 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 which comes as close as possible to the original intent of the parties.

- 18 -

 

	14.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, 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.
	 
	15.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 15 shall be made in writing.
	 
	16.	 	AUSTRIAN STAMP DUTY
	 
	16.1	 	The parties to this Agreement (each a “Party” and together the “Parties”) shall perform their
obligations under or in connection with the Agreement exclusively at the Place of Performance (as
defined below), but in no event at a place in Austria and the performance of any obligations or
liability under or in connection with the Agreement within the Republic of Austria shall not
constitute discharge or performance of such obligation or liability. For the purposes of the above,
“Place of Performance” means: (i) in relation to any payment under or in connection with the
Agreement, the place at which such payment is to be made pursuant to the Credit Documents; and (ii)
in relation to any other obligation or liability under or in connection with the Agreement, the
premises of the Administrative Agent or the Indenture Trustee (as the case may be) in New York or
any other place outside of Austria as the Administrative Agent or the Indenture Trustee (as the
case may be) may specify from time to time. Any payment made under or in connection with the
Agreement shall be made from and to an account outside of Austria.
	 
	16.2	 	No Party shall bring or send to, or otherwise produce in, Austria a Stamp Duty Sensitive
Document or communicate in writing other than in compliance with the Stamp Duty Guidelines, in each
case other than in the event that: (i) it does not cause a liability of a Party to pay stamp duty
in the Republic of Austria; (ii) a Party wishes to enforce any of its rights under or in connection
with a Credit Document in any form of proceedings in the Republic of Austria and is only able to do
so by bringing or sending to, or otherwise producing in, Austria a Stamp Duty Sensitive Document
and it would not be sufficient for that Party to bring or send to, or otherwise produce in, Austria a document that is not a Stamp
Duty Sensitive Document (e.g. a simple/uncertified copy (i.e. a copy which is not an original, notarised or certified copy) of the relevant Stamp Duty
Sensitive Document) for the purposes of such enforcement; in furtherance of the foregoing, no Party
shall (A) object to the introduction into evidence of an uncertified copy of any Stamp Duty
Sensitive Document or raise a defence to any action or to the exercise of any remedy on the basis
of an original or certified copy of any Stamp Duty Sensitive Document not having been introduced
into evidence, unless such uncertified copy actually introduced into evidence does not accurately
reflect the content of the

- 19 -

 

	 	 	original document and (B) if such Party is a party to proceedings before an Austrian court or
authority, contest the authenticity (Echtheit) of an uncertified copy of any such Stamp Duty
Sensitive Document, unless such uncertified copy actually introduced into evidence does not
accurately reflect the content of the original document; or (iii) a Party is required by law,
governmental body, court, authority or agency pursuant to any legal requirement (whether for the
purposes of initiating, prosecuting, enforcing or executing any claim or remedy or enforcing any
judgment or otherwise) to bring or send a Stamp Duty Sensitive Document into, or otherwise produce
a Stamp Duty Sensitive Document in, the Republic of Austria.
	 
	16.3	 	The Pledgor shall indemnify the Administrative Agent, each Lender, each Issuing Bank, the
Indenture Trustee and the Collateral Agent against any cost, loss or liability in respect of
Austrian stamp duty unless such cost, loss or liability is incurred as a result of the
Administrative Agent, a Lender, an Issuing Bank, the Indenture Trustee or the Collateral Agent
breaching any obligations under this Clause 16, in which case the breaching party shall be liable
for payment of such stamp duty.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	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 Pledgor:	 	c/o SIG Combibloc Holding GmbH
	 
	 	 	 	 
	 

	 	Address:
	 	Rurstraße 58
	 

	 	 	 	52441 Linnich
	 

	 	 	 	Germany
	 
	 	 	 	 
	 

	 	Fax:
	 	+41 52674 6556
	 
	 	 	 	 
	 

	 	Attention:
	 	Daniel Petitpierre
	 
	 	 	 	 
	 

	 	Email:
	 	Daniel.Petitpierre@sig.biz
	 
	 	 	 	 
	For the Pledgor with a copy to:
	 	 	 	 
	 
	 	 	 	 
	 

	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	Suite 2502
	 

	 	 	 	2 Park Street
	 

	 	 	 	Sydney NSW 2000
	 

	 	 	 	Australia
	 
	 	 	 	 
	 

	 	Fax:
	 	+64 2 9268 6693
	 
	 	 	 	 
	 

	 	Email:
	 	helen.golding@rankgroup. co.nz

- 20 -

 

	 	 	 	 	 

	 
	 	 	 	 
	 

	 	Attention:
	 	Helen Golding
	 
	 	 	 	 
	For the Collateral Agent:	 	Wilmington Trust (London) Limited
	 
	 	 	 	 
	 

	 	Address:
	 	Third Floor
	 

	 	 	 	1 King’s Arms Yard
	 

	 	 	 	London
	 

	 	 	 	EC2R 7AF
	 

	 	 	 	United Kingdom
	 
	 	 	 	 
	 

	 	Fax:
	 	+44 (0)20 7397 3601
	 
	 	 	 	 
	 

	 	Attention:
	 	Elaine Lockhart

	17.2	 	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 representative of the applicable party to this
Agreement provided from time to time by such party.
	 
	17.3	 	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 17 or in accordance with the latest
unrevoked direction from such party given in accordance with this Clause 17.
	 
	17.4	 	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.
	 
	17.5	 	No communication (including fax, electronic message or communication in any other written
form) under or in connection with the Credit Documents shall be made to or from an address located
inside of the Republic of Austria.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.

- 21 -

 

	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee however,
shall also be entitled to take action against the Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Pledgor in any one or more
jurisdictions shall not preclude the taking of proceedings in any other jurisdiction (whether
concurrently or not) if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	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.
	 
	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to subClause 19.1
above, they will transmit the signed signature page(s) of this Agreement to attention of Ms Isabel
van Bremen or Ms Seraphir Preuss (isabel.vanbremen@cliffordchance.com or
seraphir.preuss@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).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each Recipient
individually as their attorney (Empfangsvertreter) and
expressly allow (gestatten) each Recipient
to collect the signed signature page(s) from all and for all parties to this Agreement. For the
avoidance of doubt, the Recipients will have no further duties connected with their position as
Recipient. In particular, the Recipients may assume the conformity to the authentic original(s) of
the signature page(s) transmitted to it by means of telecommunication, the genuineness of all
signatures on the original signature page(s) and the signing authority of the signatories.

- 22 -

 

SIGNATURE PAGE

This Account Pledge Agreement has been entered into on the date stated at the beginning by

	 	 	 	 	 
	SIG Austria Holding GmbH

as Pledgor

 	 	 
	By:  	/s/ Jennie Blizard
 	 	 
	Name:  	Jennie Blizard 	 	 
	Title:  	Attorney 	 	 
	 
	Wilmington Trust (London) Limited

as Collateral Agent and Pledgee

 	 	 
	By:  	/s/ Paul
Barton	 	 
	Name:  	Paul Barton	 	 
	Title:  	Relationship Manager	 	 

- 23 -

 

SCHEDULE 1

PART 1

LIST OF CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

PART 2

LIST OF CURRENT GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

- 25 -

 

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

- 26 -

 

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Reynolds Group Issuer (Luxembourg) S.A.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

- 27 -

 

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

- 28 -

 

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

- 29 -

 

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 3

LIST OF CURRENT SENIOR SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

- 30 -

 

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

- 31 -

 

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

- 32 -

 

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

- 33 -

 

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 4

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

- 34 -

 

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

- 35 -

 

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

- 36 -

 

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

- 37 -

 

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 38 -

 

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

PART 5

LIST OF CURRENT FEBRUARY 2011 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

- 39 -

 

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

- 40 -

 

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

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

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

- 41 -

 

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (merged with Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

- 42 -

 

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Central de Bolsas, S. de R.L. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

Dopaco Canada, Inc.

Garven Incorporated

Conference Cup Ltd.

Dopaco, Inc.

- 43 -

 

SCHEDULE 2

LIST OF ACCOUNTS

	 	 	 	 	 	 	 	 	 
	(Sub-) Account	 	Bank Sort Code	 	Name and address of	 	Type of	 	 
	No.	 	(Bankleitzahl)	 	Account Bank	 	account	 	Currency
	355006800

	 	SWIFT:

DEUTDEDDXXX
	 	Deutsche Bank AG,

Königsallee 45/47, 40189

Düsseldorf, Germany
	 	Current
	 	Euro
	 

	 	IBAN:

DE2030070010035500

6800	 	 	 	 	 	 
	191/8043/019

	 	SWIFT:

TUBDDEDDXXX

	 	HSBC Trinkaus &

Burkhardt KGaA,

Königsallee 21/23, 40212

Düsseldorf, Germany
	 	Current
	 	Euro
	 

	 	IBAN:

DE86300308801918

043019	 	 	 	 	 

- 44 -

 

SCHEDULE 3

FORM OF NOTICE OF PLEDGE

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 the Account Pledge Agreement (as defined
below)) 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.

[Letterhead of Pledgor]

	 	 	 

	Absender/From:

	 	[Pledgor]
	 
	 	 
	An/To:

	 	[Account Bank]
	 
	 	 
	Datum/Date:

	 	[•]

	 	 	 

	Verpfändungsanzeige

	 	Notice of Pledge
	 
	 	 
	Betrifft: Konto Nr. [•]

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

	 	Dear Sirs,
	 
	 	 
	wie Ihnen bekannt ist, haben wir gemäß
eines Kontenverpfändungsvertrags vom 4.
Marz 2010 (der “Kontenverpfändungsvertrag
1”) alle Ansprüche einschließlich Zinsen
aus dem o.g. Konto (inklusive aller
Unterkonten, etwaigen Neueröffnungen,
Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von
Wilmington Trust (London) Limited
(“Sicherheitentreuhänder”) und anderen
verpfändet. Die Verpfändung umfasst alle
Arten von Kontoguthaben sowie alle daraus
zeitanteilig anfallenden Zinsen. Eine
Kopie des Kontenverpfändungsvertrages 1
hatten wir unseren Schreiben beigefügt.

	 	As you are aware, by an account
pledge agreement dated 4 March
2010 (the “Account Pledge
Agreement 1”) we have pledged
in favour of Wilmington Trust
(London) Limited (the
“Collateral Agent”) and others
all of our right, title and
interest in and to the above
account (which shall include
all sub-accounts, renewals,
replacements, redesignations
and related fixed deposit
accounts thereof) and all
monies and interest from time
to time standing or accruing to
the credit thereof. A copy of
the Account Pledge Agreement 1
was attached to our letters.
	 
	 	 
	Gemäß eines Bestätigungs- und
Ergänzungsvertrages zum
Kontenverpfändungsvertrag 1 vom 27.

	 	Pursuant to a confirmation and
amendment agreement relating to
the Account Pledge Agreement 1
dated 27 August 2010 (the

- 45 -

 

	 	 	 

	August 2010 (der “Bestätigungs- und
Ergänzungsvertrag”) wurde der
Kontenverpfändungsvertrag 1 dahingehend
bestätigt und ergänzt, dass, unter anderem,
auch die Erhöhung bestehender Kreditlinien
umfasst wird, die bereits durch den
Kontenverpfändungsvertrag 1 besichert sind.
Eine Kopie des Bestätigungs- und
Ergänzungsvertrags hatten wir unseren Schreiben
beigefügt.

	 	“Confirmation and Amendment
Agreement”), the Account Pledge
Agreement 1 has been confirmed and
amended to the effect that, inter alia,
it also secures the increase of
existing facilities which are already
secured by the Account Pledge Agreement
1. A copy of the Confirmation and
Amendment Agreement was attached to our
letters.
	 
	 	 
	Gemäß eines weiteren Kontenverpfändungsvertrags
vom 14. Januar 2011 (der
“Kontenverpfändungsvertrag 2”) haben wir
bekanntlich alle Ansprüche einschließlich
Zinsen aus dem o.g. Konto (inklusive aller
Unterkonten, etwaigen Neueröffnungen,
Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von Wilmington
Trust (London) Limited
(“Sicherheitentreuhänder”) und anderen
verpfändet. Die Verpfändung umfasst alle Arten
von Kontoguthaben sowie alle daraus
zeitanteilig anfallenden Zinsen.

	 	As you are aware, pursuant to an
additional account pledge agreement
dated 14 January 2011 (the “Account
Pledge Agreement 2”) we have pledged in
favour of Wilmington Trust (London)
Limited (the “Collateral Agent”) and
others all of our right, title and
interest in and to the above account
(which shall include all sub-accounts,
renewals, replacements, redesignations
and related fixed deposit accounts
thereof) and all monies and interest
from time to time standing or accruing
to the credit thereof.
	 
	 	 
	Hiermit zeigen wir Ihnen an, dass wir gemäß
Ziffer 2.1 des hier in Kopie beigefügten
Kontenverpfändungsvertrags vom [•] (der
“Kontenverpfändungsvertrag 3”) alle Rechte und Ansprüche bezüglich des o.
g. Kontos und aller sonstigen bei Ihnen
geführten Konten (die
“Konten”) (inklusive aller
Unterkonten, etwaiger Neueröffnungen,
Verlängerungen, Umbenennung und Festgeldkonten)
zu Gunsten von [Collateral Agent] (der
“Sicherheitentreuhänder”)
verpfändet haben.

	 	We hereby give you notice that pursuant
to Clause 2.1 of a account pledge
agreement dated [•] (the “Account
Pledge Agreement 3”), a copy of which
is attached hereto, we have pledged in
favour of [Collateral Agent] (the
“Collateral Agent”) all of our rights
and claims in respect of the above
account and all other accounts
maintained with you from time to time
(the “Accounts”) (including all
sub-accounts thereof, renewals,
replacements, redesignations and
related fixed deposit accounts
thereof).
	 
	 	 
	Die Verpfändung umfasst insbesondere alle
Ansprüche auf gegenwärtige und zukünftige
Guthaben (einschließlich Spareinlagen,
Termineinlagen, Festgeldeinlagen und
Tagesgeldeinlagen) und positive Salden sowie
alle darauf anfallenden Zinsen.

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

	 	Until notice to the contrary from the
Collateral Agent to be served on you as
account bank, we may continue to
operate the Accounts and in particular
may dispose over the amounts standing
to the credit thereof. Upon receipt of
such aforesaid notice to the

- 46 -

 

	 	 	 

	entsprechenden Nachricht sind Sie
als kontoführende Bank gehalten,
keinerlei Verfügungen unsererseits
über die Konten und die
Kontenguthaben mehr zuzulassen.

	 	contrary, you as account bank shall
not allow any dispositions by us of
the Accounts and of the amounts
standing to the credit thereof.
	 
	 	 
	Wir verzichten hiermit in bezug auf
alle bei Ihnen geführten
Konten zu Gunsten des
Sicherheitentreuhänders auf
unser Recht auf Vertraulichkeit
(Bankgeheimnis) und beauftragen und
ermächtigen Sie hiermit, nachdem Sie
die o.g Nachricht vom
Sicherheitentreuhänder
erhalten haben, dem
Sicherheitentreuhänder auf sein
Verlangen jede gewünschte
Information im Hinblick auf solche
Konten zu geben.

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

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

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

	 	Please sign the enclosed
Acknowledgement of Notice of Pledge
in order to acknowledge receipt of
this notice and your agreement to
the terms set out herein and in the
enclosed Acknowledgement and return
the same to us and to the Collateral
Agent. The address of the Collateral
Agent is the following:
	 
	 	 
	[name and address of Collateral Agent].
	 
	 	 
	Mit freundlichen Grüßen

	 	Yours faithfully

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 47 -

 

[Letterhead of Account Bank]

	 	 	 

	Absender/From:

	 	[Account Bank]
	 
	 	 
	An/ To:

	 	[Collateral Agent]
	 

	 	und/and
	 

	 	[SIG Combibloc Holding GmbH]
	 
	 	 
	Datum/ Date:

	 	[•]

	 	 	 

	Bestätigung des Empfangs einer Verpfändungsanzeige

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

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

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

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

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

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

	 	We hereby irrevocably and
unconditionally waive our
rights in respect of and agree
not to make any set-off from
the Accounts or invoke any
rights of retention in relation
to the Accounts; it being
understood that the balancing
of current accounts shall be
permitted and that
account-keeping fees and
returned cheques may
furthermore be debited without
restriction.
	 
	 	 
	Des Weiteren erklären wir hiermit, dass
wir das aufgrund unserer Allgemeinen Geschäftsbedingungen an den Konten

	 	We hereby release the pledge
granted in our favour in
respect of the Accounts
pursuant to our General
Business Conditions.

- 48 -

 

	 	 	 

	bestehende Pfandrecht aufgeben.
	 	 
	 
	 	 
	Dieses Schreiben unterliegt deutschem Recht.

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

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

	 	Yours faithfully

[Account Bank]

 

([Name des Unterzeichners/name of signatory])

- 49 -

 

SCHEDULE 4

FORM OF NOTIFICATION OF FUTURE ACCOUNTS

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 the Account Pledge Agreement (as defined below)) 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.

	 	 	 

	From:

	 	[Pledgor]
	 
	 	 
	To:

	 	[Collateral Agent], on its own behalf and for and on behalf of the Secured Parties (as defined in the Account Pledge Agreement, as defined below)
	 
	 	 
	Date:

	 	[Date of Notification]
	 
	 	 
	Re:

	 	Account pledge agreement dated [date of this Agreement] between us as pledgor and you (the “Account Pledge Agreement”)

Dear Sirs,

In accordance with Clause 8.3 of the Account Pledge Agreement, we hereby give you notice that we
[will open/have opened] the following bank account (the “New Account”):

	 	 	 	 	 	 	 
	(Sub-) Account	 	Bank Sort Code	 	Name and address of Account	 	Type of
	No.	 	(Bankleitzahl)	 	Bank
(the “Account Bank”)	 	Account
	 
	 	 	 	 	 	 
	[•]

	 	[•]
	 	[•]
	 	[•]

Capitalised terms not otherwise defined herein shall have the meaning ascribed thereto in the
Account Pledge Agreement.

We hereby confirm that all our present and future rights and claims (whether conditional or
unconditional) arising against the Account Bank from or in relation to the New Account (as
specified in Clause 2.1 of the Account Pledge Agreement) are pledged to the Pledgee pursuant to the
Account Pledge Agreement as security for the Obligations. We expressly acknowledge

- 50 -

 

that all obligations imposed on us in the Account Pledge Agreement in respect of the Accounts also
apply for the New Account.

[In accordance with Clause 8.3 of the Account Pledge Agreement, we enclose a copy of the notice of
pledge we have given to the Account Bank in respect of the New Account as well as an original copy
of the acknowledgement countersigned by the Account Bank.]

	 	 	 	 	 
	[Pledgor]

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	Managing Director (Geschäftsführer) 	 	 
	 

- 51 -

 

SCHEDULE 5

STAMP DUTY GUIDELINES

	1.	 	Introduction
	 
	1.1	 	These stamp duty guidelines (the “Guidelines”) shall apply to all written communication of the
parties to this Agreement of which this Schedule 5 forms part.
	 
	1.2	 	In these Guidelines, unless a contrary indication appears a term defined in the Agreement
(including by way of reference) has the same meaning when used in these Guidelines.
	 
	2.	 	Guidelines for Written Communication
	 
	2.1	 	Signed written communication that records or otherwise provides evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body of the
relevant communication, a schedule, an attachment, an annex or an appendix referred to therein or
incorporated by reference (Bezugnahme), may only be made from an address outside of the Republic of
Austria to an address outside of the Republic of Austria. For the avoidance of doubt, e-mails where
the server on which such e-mails will be received or from which such e-mails will be sent is
located in the Republic of Austria (e.g. this may be indicated by an e-mail address having a
country code top level domain “.at”) or other e-mail addresses where the person sending or the
person receiving such e-mail have their ordinary workplace (Arbeitsplatz) in the Republic of
Austria must not be signed (see also clause 2.2. and 2.3. below).
	 
	2.2	 	Letters that record or otherwise provide evidence of a transaction (Rechtsgeschäft)
contemplated by, or referenced in, any Credit Document, whether in the body of the letter, a
schedule, an attachment, an annex or an appendix referred to therein or incorporated by reference
(Bezugnahme), may only be brought or sent into, or produced in, the Republic of
Austria in the following format (provided that no Stamp Duty Sensitive Document is attached):
	 
	 	 	[party’s letterhead]
	 
	 	 	Dear....,
	 
	 	 	[text of message]
	 
	 	 	Kind regards

- 52 -

 

	 	 	NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	NO CONTACT DETAILS
	 
	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT
	 
	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED
	 
	2.3	 	E-mails and fax messages that record or otherwise provide evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body of the
e-mail or fax, a schedule, an attachment, an annex or an appendix referred to therein or
incorporated by reference (Bezugnahme), may only be brought or sent into, or produced in, the
Republic of Austria if in the following format (provided that no Stamp Duty Sensitive Document is
attached):
	 
	 	 	Dear....,
	 
	 	 	[text of message].
	 
	 	 	Kind regards
	 
	 	 	NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	NO CONTACT DETAILS OR OTHER AUTOMATICALLY GENERATED FOOTERS THAT REFER TO A PARTY
	 
	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT
	 
	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED
	 
	 	 	In addition, the footer of such e-mails must not contain the company name, contact details or any
other information allowing identification of the sender. The company name, contact details etc. of
the original sender of a reply or forwarded message need not be deleted.

- 53 -

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"}]]