Document:

exv4w161

EXHIBIT 4.161

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

Account Pledge Agreement

between

1. SIG Austria Holding GmbH

as Pledgor

and

2. Wilmington Trust (London) Limited

as Pledgee and Collateral Agent

 

 

Contents

	 	 	 	 	 

	Whereas:
	 	 	3	 
	1. Definitions
	 	 	3	 
	2. Construction
	 	 	6	 
	3. Secured Obligations
	 	 	7	 
	4. Pledges
	 	 	8	 
	5. Perfection of Security and Further Security
	 	 	8	 
	6. Waiver of credit institutions
	 	 	10	 
	7. Enforcement of Pledges
	 	 	10	 
	8. Undertakings of the Pledgor
	 	 	11	 
	9. Acknowledgment by Pledgor
	 	 	12	 
	10. Representations and Warranties of the Pledgor
	 	 	12	 
	11. Duration and Independence
	 	 	13	 
	12. Partial Invalidity; Waiver
	 	 	13	 
	13. Further Assurance
	 	 	14	 
	14. Amendments; Waiver
	 	 	14	 
	15. Miscellaneous
	 	 	14	 
	16. Execution in Counterparts
	 	 	16	 
	17. Stamp Duty
	 	 	16	 
	18. Capital maintenance
	 	 	16	 
	19. Choice of Law
	 	 	17	 
	20. Settlement of Disputes
	 	 	17	 

	 	 	 
	Schedules	 	 
	 
	Schedule A

	 	List of the existing bank accounts (Clause 1)
	 
	Schedule B

	 	Notification the account holding bank (Clause 5.3)

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Whereas:

A. Pursuant to the Credit Agreement (as defined below) the Lenders (as defined therein) under this
agreement granted to the Borrowers (as defined below) facilities as provided therein.

B. Pursuant to the Senior Secured Note Indenture (as defined below) the Issuers (as defined
therein) have issued certain notes.

C. The Pledgor is foreseen to grant a pledge over its Accounts (as defined below) as security for
the Secured Parties’ (as defined below) respective claims against the Borrowers under the Loan
Documents (as defined below).

D. The security created by or pursuant to this Agreement (as defined below) is to be administered
by the Collateral Agent (as defined below) for and on behalf of the Secured Parties pursuant to the
relevant provisions of the First Lien Intercreditor Agreement (as defined below).

Now, it is agreed as follows:

1. Definitions

A term defined in the First Lien Intercreditor Agreement shall, unless otherwise defined in this
Agreement, have the same meaning when used in this Agreement or any notice given under or in
connection with this Agreement and in addition:

	 	 	 
	Accounts

	 	means the Existing Accounts and the Future Accounts.
	 
	 	 
	Additional Collateral
Agent’s Fee Letter

	 	means the fee letter dated 20 January 2010 among
the Collateral Agent and Reynolds Group Holdings
Limited as amended, novated, supplemented, restated
or modified from time to time.
	 
	 	 
	Agreed Security Principles

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

	 	means this account pledge agreement, as the same
may from time to time be varied, amended, extended,
restructured, renewed, novated, supplemented,
restated, replaced or modified from time to time.
	 
	 	 
	Amendment No.1 and
Joinder Agreement

	 	means the joinder agreement dated 21 January 2010
made among (amongst others) the Collateral Agent,
The Bank of

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	 	New York Mellon, Credit Suisse AG and
Reynolds Group Holdings Limited pursuant to which
the Collateral Agent is appointed an additional
collateral agent and becomes party to the First
Lien Intercreditor Agreement.
	 
	 	 
	Borrowers

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Business Days

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Collateral Agent

	 	means Wilmington Trust (London) Limited, as joint
and several creditor for and on behalf of itself
and each of the Secured Parties on the terms and
conditions set out in the First Lien Intercreditor
Agreement. The term “Collateral Agent” shall
include any person for the time being appointed as
collateral agent, or as an additional collateral
agent, for the purpose of, and in accordance with,
the First Lien Intercreditor Agreement and shall
include successors, transferees and permitted
assigns.
	 
	 	 
	Collateral Rights

	 	means all rights, powers and remedies of the
Collateral Agent provided by this Agreement or by
law.
	 
	 	 
	Credit Agreement

	 	means a credit agreement dated as of 5 November
2009, among Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., SIG Euro Holding
AG & Co. KG aA, Closure Systems International
Holdings Inc., Closure Systems International B.V.
and the Pledgor as borrowers, Reynolds Group
Holdings Limited, the lenders from time to time
party thereto and Credit Suisse AG (formerly known
as Credit Suisse), as administrative agent, as
amended, extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or
modified from time to time.
	 
	 	 
	Enforcement Event

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

	 	means any and all present and future rights, title
and interests in/to all funds, proceeds, interest
and other rights held in, accruing on, standing to
the credit of or arising in relation to all bank
accounts listed in Schedule A together with all
ancillary rights and claims associated therewith.
	 
	 	 
	First Lien Intercreditor 

Agreement

	 	means the first lien intercreditor agreement dated
5 November 2009 among (amongst others) The Bank of
New

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	 	York Mellon as collateral agent and as trustee
under the Senior Secured Note Indenture, Credit
Suisse AG (formerly known as Credit Suisse) as
administrative agent under the Credit Agreement and
the Loan Parties, as amended, novated,
supplemented, restated or modified from time to
time (including by the Amendment No.1 and Joinder
Agreement which added the Collateral Agent as a
collateral agent under the First Lien Intercreditor
Agreement).
	 
	 	 
	Future Accounts

	 	means any and all present and future rights, title
and interests in/to all funds, proceeds, interest
and other rights held in, accruing on, standing to
the credit of or arising in relation to all bank
accounts in Austria which the Pledgor may acquire
in the future together with all ancillary rights
and claims associated therewith.
	 
	 	 
	Intercreditor Arrangements

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

	 	has the meaning given to it in the Senior Secured
Note Indenture, including their successors in
interest.
	 
	 	 
	Lien

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Loan Documents

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

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

	 	means Reynolds Group Holdings Limited (previously
known as Rank Group Holdings Limited).
	 
	 	 
	Parallel Obligations

	 	means the independent obligations of any of the
Loan Parties arising pursuant to the First Lien
Intercreditor Agreement to pay to the Collateral
Agent sums equal to the sums owed by such Loan
Party to the other Secured Parties (or any of them)
under the Loan Documents.
	 
	 	 
	Party

	 	means a party to this Agreement. The term “Parties”

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	 	means any of them.
	 
	 	 
	Pledge

	 	has the meaning given to it in Clause 4.1.
	 
	 	 
	Pledgee

	 	means the Collateral Agent.
	 
	 	 
	Pledgor

	 	means SIG Austria Holding GmbH, a limited liability
company organised under the laws of Austria with
its seat in Saalfelden am Steinernen Meer, Austria,
and its business address as at the date of this
Agreement at Industriestraße 3, 5760 Saalfelden,
Austria, registered in the Austrian companies
register (Firmenbuch) under file number FN 236071
p.
	 
	 	 
	Principal Finance 

Documents

	 	means the Credit Agreement, the Senior Secured Note
Indenture, the Intercreditor Arrangements and any
Additional Agreement.
	 
	 	 
	Secured Obligations

	 	means all present and future obligations and
liabilities (whether actual or contingent and
whether owed jointly or severally or in any other
capacity whatsoever) of each Loan Party and each
grantor of a security interest to the Secured
Parties (or any of them) under each or any of the
Loan Documents, including in particular, but not
limited to, the Parallel Obligations, together with
all costs, charges and expenses incurred by any
Secured Party in connection with the protection,
preservation or enforcement of its respective
rights under the Loan Documents or any other
document evidencing or securing any such
liabilities.
	 
	 	 
	Secured Parties

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

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Senior Secured Note 

Indenture

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

2. Construction

In this Agreement, unless the context otherwise requires:

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	(a)	 	the rules of interpretation contained in the First Lien Intercreditor Agreement apply to the
construction of this Agreement and any notice given under or in connection with this
Agreement.
	 
	(b)	 	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement;
	 
	(c)	 	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement and
references to this Agreement include its Schedules;
	 
	(d)	 	words importing the plural shall include the singular and vice versa;
	 
	(e)	 	a reference to (or to any specified provision of) any agreement, deed or other instrument
(for the avoidance of doubt including, but not limited to, such agreements, deeds or other
instruments which are entered into prior to or after the conclusion of this Agreement) is to
be construed as a reference to that agreement, deed or other instrument or that provision as
from time to time amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified; and
	 
	(f)	 	this Agreement is subject to the terms of the Intercreditor Arrangements. In the event of a
conflict between the terms of this Agreement and the Intercreditor Arrangements, the terms of
the Intercreditor Arrangements will prevail.

3. Secured Obligations

3.1 The Pledges hereunder are constituted in order to secure the prompt and complete satisfaction
of any and all Secured Obligations. The security created hereunder shall remain in full force and
effect as a continuing security for the Secured Obligations unless and until the earlier of the
following occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit
waiver of any and all Secured Obligations or (iii) discharge in accordance with Clauses 15.1 or
15.2.

3.2 The parties to this Agreement agree that in the case of a transfer or assignment or novation of
any Secured Obligations in accordance with the terms of the Principal Finance Documents, the
Pledges hereunder shall not lapse but shall continue to secure such transferred or assigned or
novated Secured Obligations.

3.3 Furthermore, the parties to this Agreement agree that in case of a substitution of any Loan
Party or the assumption of any of the Secured Obligations from any Loan Party or the transfer of
any of the Secured Obligations from any Loan Party to another person, the Pledges hereunder shall
not lapse but shall continue to secure such Secured Obligations in accordance with section 1407
para 2 of the Austrian General Civil Code (Allgemeines Bürgerliches Gesetzbuch).

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4. Pledges

4.1 The Pledgor hereby pledges to the Collateral Agent the Accounts (each a “Pledge” and together
the “Pledges”).

4.2 Subject to (a) obtaining any necessary consents to such pledge from any third party, (b) any
Liens permitted by the Principal Finance Documents, (c) any Legal Reservations (as defined in the
Credit Agreement) and (d) Clause 6.1 hereof, the Pledges shall rank ahead of any other Lien now in
existence or created in future in or over any of the Accounts. The validity and effect of each of
the Pledges shall be independent from the validity and effect of any other Pledges created
hereunder.

4.3 The Collateral Agent hereby accepts the Pledges.

4.4 Each of the Pledges is in addition and without prejudice to any other security that a Secured
Party may now or hereafter hold in respect of the Secured Obligations.

4.5 Notwithstanding any other provision of this Agreement, the Pledgor is permitted to pay into,
receive, withdraw or otherwise transfer any credit balance from time to time on the Accounts and
deal with the Accounts in any manner and to exercise all of its rights and benefits under and in
respect of the Accounts (including, but not limited to, the disposal of or closing of any Account
if permitted by the Principal Finance Documents) freely and without restrictions in accordance with
the terms and conditions of the Principal Finance Documents without reference to the Collateral
Agent prior to the delivery of a notice being given by the Collateral Agent to the Pledgor and the
respective account holding credit institution, if relevant (and after any such notice has been
revoked by the Collateral Agent). Such notice may be given by the Collateral Agent if required
under the terms of the Loan Documents and only if an Enforcement Event has occurred and is
continuing.

5. Perfection of Security and Further Security

5.1 The Pledgor shall, subject to the Agreed Security Principles, at all times (while this
Agreement is in existence) take all reasonable actions to ensure that all Accounts are marked as
being pledged in accordance with Austrian law (Buchvermerk).

5.2 In order to effectuate the Pledges hereunder the Pledgor shall promptly upon signing of this
Agreement record the Pledges in its company books and records, in the relevant individual account
and the open-item list as follows: The Pledgor shall at any time and all times include the
following annotation at the beginning of each account in its books concerning the respective
debtors’ individual (customer) accounts: “Alle auf diesem Konto gebuchten gegenwärtigen und
zukünftigen Forderungen wurden am l2010 an Wilmington Trust (London) Limited als Pfandnehmer,
verpfändet”. [Datum des Buchvermerk] (“All present and future receivables booked on this account
have been pledged to Wilmington Trust (London) Limited as pledgee on l2010”. [Date of the
book entry]). Additionally, the Pledgor shall promptly procure that the following text shall appear
on every page of the list of outstanding claims (Offene Posten Liste): “Alle nachstehend
angeführten und alle künftigen Forderungen

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wurden am l2010 an Wilmington Trust (London) Limited als Pfandnehmer verpfändet” [Datum
des Buchvermerk] (“All present and future receivables booked on this account have been pledged to
Wilmington Trust (London) Limited as pledgee on l2010” [Date of the book entry]).

5.3 The Pledgor will notify the credit institution holding the Existing Accounts mentioned in
Schedule A of the respective pledge within 4 weeks of this Agreement in respect of the Existing
Accounts by sending a notification in the form of Schedule B. The Pledgor will use all reasonable
endeavours to obtain an acknowledgement of such notice from the credit institution. In the case of
any Future Accounts the Pledgor will notify the credit institutions holding such Future Accounts of
the respective pledge upon acquiring such account by sending a notification in the form of Schedule
B within 4 weeks of opening such account and will use all reasonable endeavours to obtain an
acknowledgement of such notice by the credit institution. For the avoidance of doubt, the
Collateral Agent agrees that it will not serve a notice in respect of this Agreement or the Pledges
created hereunder on any credit institution with which an Account is held unless an Enforcement
Event has occurred and is continuing.

5.4 Upon the instructions of the Collateral Agent (acting on the reasonable instruction of the
Applicable Representative), which may be given at any time after signing this Agreement, the
Pledgor hereby, subject to the Agreed Security Principles, undertakes to take all actions
reasonably required in relation to the perfection of the Pledges created under this Agreement.

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6. Waiver of credit institutions

6.1 Certain or all of the Existing Accounts listed in Schedule A may be subject to a waiver of any
rights of set-off or to other interests (such as a pledge) for the benefit of the account holding
credit institution arising by law or under such credit institution’s general business conditions.

6.2 The Pledgor shall use all reasonable endeavours to procure that each credit institution holding
an Existing Account listed in Schedule A waives any rights of set-off or other interest (such as a
pledge over all accounts and deposits) arising by law or under its general business conditions by
way of proposing the wording in paragraph 2 of Schedule B (in brackets) to the respective credit
institution and using all reasonable endeavours to obtain the acknowledgement as per clause 5.3.

6.3 The Pledgor shall use all reasonable endeavours to procure following service of a notice in the
form of Schedule B pursuant to Clause 5.3 upon whatsoever acquisition of a Future Account by the
Pledgor after the signing of this Agreement that each credit institution holding such a Future
Account waives any rights of set-off or other interest (such as a pledge over all accounts and
deposits) arising by law or under its general business conditions again by way of proposing the
wording in paragraph 2 of Schedule B (in brackets) to the respective credit institution and using
all reasonable endeavours to obtain the acknowledgement as per clause 5.3.

7. Enforcement of Pledges

7.1 The Pledgor herewith grants its express consent that if an Enforcement Event has occurred and
is continuing, the Pledges shall become enforceable by the Collateral Agent. The Collateral Agent
may at any time thereafter (while the Enforcement Event is still continuing) avail itself of all
rights and remedies that a pledgee has upon default of a pledgor under the laws of Austria. In
particular, but not limited to, the Collateral Agent shall be entitled to set-off (Verrechnung auf
die Schuld) any and all payments received with regard to the Accounts without writ, judgement or
any other legal court action with the Secured Obligations if an Enforcement Event has occurred and
is continuing. The Collateral Agent may also request the transfer of and collect any amounts in
relation to the Accounts without writ, judgement or any other legal court action with the Secured
Obligations if an Enforcement Event has occurred and is continuing. The Pledgor grants its explicit
consent to such set-off and such out-of-court enforcement in accordance with this Clause 7.1. For
the avoidance of doubt, the Collateral Agent agrees that it will not serve a notice in respect of
this Agreement or the Pledges created hereunder on any credit institution with which an Account is
held unless an Enforcement Event has occurred and is continuing.

7.2 In case the Secured Parties acting through the Collateral Agent should seek to enforce the
Pledges pursuant to, and in accordance with Clause 7.1, the Pledgor shall, at its own expense,
render forthwith all necessary assistance in order to facilitate the prompt realisation of the
Accounts or any part thereof and/or the exercise by the Secured Parties acting

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through the Collateral Agent of any other right they may have under this Agreement as Secured
Parties.

7.3 In the event of the enforcement of the Pledges, no rights of the Secured Parties shall pass to
the Pledgor by subrogation or otherwise unless and until all of the Secured Obligations have been
satisfied and discharged finally and in full. Until then, the Secured Parties shall be entitled to
treat all enforcement proceeds as additional collateral for the Secured Obligations or to seek
satisfaction from such proceeds at any time.

7.4 The proceeds from the enforcement of the Pledges shall, after deduction of enforcement costs,
which are to be borne by the Pledgor to the extent set out in the Principal Finance Documents, and
any preferential debts, be paid to the Collateral Agent. Any moneys received by the Collateral
Agent pursuant to this Agreement and/or under the powers hereby conferred shall be applied by the
Collateral Agent in accordance with the terms of the Intercreditor Arrangements, save that any
amount received or recovered in excess of the Secured Obligations shall be returned to the Pledgor.

7.5 The Collateral Agent may determine which of the securities granted pursuant to the Security
Documents, if applicable, shall be used to satisfy the Secured Obligations in accordance with the
Intercreditor Arrangements.

7.6 The Pledgor waives its rights of revocation (Anfechtbarkeit) to the extent legally permissible
and its right to set-off (Aufrechenbarkeit).

7.7 The Pledgor grants his express consent and authorization to the enforcement of the Pledges by
the Collateral Agent in accordance with Clauses 7.1 to 7.6.

7.8 Subject to the terms of and to the extent set out in the Principal Finance Documents the
Pledgor agrees that the Collateral Agent, its officers, employees, advisors, agents and delegates
shall not be bound by any applicable banking secrecy obligations, including, but not limited to,
the obligation as stipulated in section 38 of the Austrian Banking Act (Bankwesengesetz), in
connection with the creation and enforcement of the Pledges.

8. Undertakings of the Pledgor

During the term of this Agreement, the Pledgor undertakes to the Secured Parties (unless with the
prior written consent of the Collateral Agent (acting on the reasonable instructions of the
Applicable Representative) or unless otherwise permitted by the terms of the Principal Finance
Documents or this Agreement):

	(a)	 	not to sell or to dispose of the Accounts or any interest therein; and
	 
	(b)	 	not to create or agree to create, grant or permit to exist any restriction on the ability to
transfer or realise, all or any part of the Accounts; and

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	(c)	 	if an Enforcement Event has occurred and is continuing, not to establish new accounts with
any bank or financial institution and not to instruct its debtors to pay any amounts owed to
it into such new bank account; and
	 
	(d)	 	if an Enforcement Event has occurred and is continuing, to provide to the Collateral Agent
upon its request a certificate containing such information on the Accounts (including, without
limitation, information on perfection of the Pledges) as the Collateral Agent may request
(acting on the reasonable instruction of the Applicable Representative).

9. Acknowledgment by Pledgor

The Pledgor acknowledges that:

	(a)	 	to its knowledge it will receive adequate direct or indirect benefits as a result of the
transactions contemplated by the Loan Documents; and
	 
	(b)	 	to its knowledge each Secured Party has acted in good faith in connection with the Pledges
pursuant to this Agreement and the transactions contemplated by the Loan Documents.

10. Representations and Warranties of the Pledgor

10.1 The Pledgor represents and warrants to the Collateral Agent and the other Secured Parties that
on the date of this Agreement with reference to the facts and circumstances then existing:

	(a)	 	it has good title to the Existing Accounts held by it, subject to any Liens permitted by the
Principal Finance Documents, and it has not sold or otherwise disposed of or agreed to sell or
otherwise dispose of the Existing Accounts or any of its rights or benefits in respect of the
Existing Accounts, in each case except as permitted by the Principal Finance Documents or this
Agreement; and
	 
	(b)	 	it will have good title to the Future Accounts held by it, subject to any Liens permitted by
the Principal Finance Documents, and it will not sell or otherwise dispose of or agree to sell
or otherwise dispose of the Future Accounts or any of its rights or benefits in respect of the
Future Accounts, in each case except as permitted by the Principal Finance Documents or this
Agreement; and
	 
	(c)	 	its rights in relation to the Existing Accounts held by it are not subject to any Liens and
there are no other third party rights whatsoever affecting the Existing Accounts held by it,
in each case except for any Liens or third party rights permitted by the Principal Finance
Documents; and
	 
	(d)	 	its rights in relation to the Future Accounts held by it will not be subject to any Liens and
there will not be other third party rights whatsoever affecting the Future Accounts

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	 	 	held by it, in each case except for any Liens or third party rights permitted by the
Principal Finance Documents.

10.2 All the representations and warranties in Clause 10.1 are made to each Secured Party on the
date of this Agreement and all such representations and warranties are deemed to be repeated as
true and correct in each material respect by the Pledgor to each Secured Party on the date of a
Credit Event (as defined in the Credit Agreement) during the continuance of this Agreement.

11. Duration and Independence

11.1 This Agreement shall remain in full force and effect until the earlier of the following
occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit waiver of any
and all Secured Obligations or (iii) discharge in accordance with Clauses 15.1 or 15.2.

11.2 This Agreement shall create a continuing security which means that no change, amendment,
supplement or novation whatsoever of the Secured Obligations and/or in the Loan Documents or in any
document or agreement related to the Secured Obligations and/or any of the Loan Documents shall
affect the validity or the scope of this Agreement nor the obligations which are imposed on the
Pledgor pursuant hereto.

11.3 This Agreement is independent from any other security or guarantee which may have been or will
be given in favour of the Secured Parties. None of such other security or guarantee shall
prejudice, or shall be prejudiced by, or shall be merged in any way with this Agreement.

12. Partial Invalidity; Waiver

12.1 If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to such
jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity,
legality and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced by
such valid, legal or enforceable provision which comes as close as possible to the original intent
of the parties in respect of the invalid, illegal or unenforceable provision.

12.2 In particular, the Pledges shall not be affected and shall in any event extend to any and all
Accounts even if the information on the Existing Accounts as stated in Schedule A is inaccurate or
deviates from the actual facts.

12.3 No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or
the Secured Parties, 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.

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

13. Further Assurance

13.1 Subject to the Agreed Security Principles, the Pledgor shall promptly execute all documents
(including transfers) and do all things (including the delivery, transfer, assignment or payment of
all or part of the Accounts to the Collateral Agent or its nominee(s)) that the Collateral Agent
may specify (upon the reasonable instruction of the Applicable Representative) for the purpose of
(a) (if an Enforcement Event has occurred and is continuing) exercising the Collateral Rights or
(b) securing and perfecting the security intended to be created by this Agreement over all or any
part of the Accounts.

13.2 At any time if an Enforcement Event has occurred and is continuing, the Pledgor shall upon
demand from the Collateral Agent execute all documents and do all other things that the Collateral
Agent may require (upon the reasonable instruction of the Applicable Representative) to facilitate
the realisation of the Accounts.

14. Amendments; Waiver

Any amendments, changes, variations or waivers to this Agreement may be made only with the
agreement of the Pledgor and the Collateral Agent in writing and, if required under Austrian
statutory law, in the form of a notarial deed. This applies also to this Clause 14.

15. Miscellaneous

15.1 The security constituted by this Agreement shall be released, reassigned, re-transferred and
cancelled:

	 	(a)	 	by the Collateral Agent (acting on the instructions of the Applicable Representative)
at the request and cost of the Pledgor, upon the Secured Obligations being irrevocably paid
or discharged in full and none of the Secured Parties being under any further actual or
contingent obligation to make advances or provide other financial accommodation to the
Pledgor or any other person under any of the Loan Documents; or
	 
	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor Arrangements (to
the extent it is possible to give effect to such arrangements under Austrian law).

15.2 If the Pledgor disposes of any Accounts and that disposal is permitted by the Principal
Finance Documents, such Accounts shall, unless an Enforcement Event has occurred and

- 14 -

 

is continuing, be automatically released, re-assigned, re-transferred and cancelled from the
security constituted by this Agreement with effect from the day of such disposal and the Collateral
Agent (at the expense and cost of the Pledgor) shall do all such acts which are reasonably
requested by the Pledgor in order to release, re-assign, re-transfer and cancel the relevant
Accounts from the security constituted by this Agreement. Any or all of the Accounts shall also be
released, re-assigned, re-transferred and cancelled in accordance with and to the extent permitted
by the Intercreditor Arrangements.

15.3 Any settlement or discharge between the Pledgor and the Collateral Agent shall be conditional
upon no security or payment to the Collateral Agent by the Pledgor or any Loan Party being avoided,
set aside, ordered to be refunded or reduced by virtue of any provision or enactment relating to
insolvency, and accordingly the Collateral Agent shall be entitled to recover from the Pledgor that
security or the amount of any such payment as if that settlement or discharge had not occurred.

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

15.5 For the purpose of or pending the discharge of any of the Secured Obligations, the Collateral
Agent may convert any money received, recovered or realised or subject to application by it under
this Agreement from one currency to another, which the Collateral Agent considers necessary (acting
on the reasonable instruction of the Applicable Representative) to cover the obligations and
liabilities comprised in the Secured Obligations and any such conversion shall be effected at the
Collateral Agent’s spot rate of exchange for the time being for obtaining such other currency with
the first currency.

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

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

15.8 To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement and in the
Additional Collateral Agent’s Fee Letter, the Pledgor shall, notwithstanding any release or
discharge of all or any part of the security, indemnify the Collateral Agent, its agents, its

- 15 -

 

attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes 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 Accounts.

15.9 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 of the Applicable Representative. 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.

15.10 For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the Applicable Representative in accordance with Clause 2.02(a)(i) 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 Applicable Representative under this
Agreement are reasonable, and that any question as to the reasonableness or otherwise of such
instructions shall be determined as between the Applicable Representative and the Pledgor.

16. Execution in Counterparts

This Agreement may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same Agreement. In this respect the Collateral
Agent and the Pledgor agree not to contest the validity of an uncertified copy of this Agreement in
any court or enforcement proceedings in the Republic of Austria.

17. Stamp Duty

The Parties agree that the provisions of sections 9.19 (Place of Performance) and 9.20 (Austria
Stamp Duty) of the Credit Agreement (and, if the Credit Agreement is no longer in existence, an
equivalent clause in any Additional Agreement) and the provisions of sections 5.15 (Place of
Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor Agreement (and, if the
First Lien Intercreditor Agreement is no longer in existence, an equivalent clause in any
Intercreditor Arrangements) shall apply to this Agreement as if incorporated herein mutatis
mutandis, to the extent relating to the Pledgor and the Collateral Agent.

18. Capital maintenance

18.1 The liability of the Pledgor under this Agreement shall at all times be limited so that at no
time the granting of security under this Agreement be required if this would violate mandatory

- 16 -

 

Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) 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).

18.2 Should any obligation under this Agreement violate or contradict Austrian capital maintenance
rules and should therefore be held invalid or unenforceable, such obligation shall be deemed to be
replaced by an obligation of a similar nature which is in compliance with Austrian capital
maintenance rules and which provides the best possible security interest in favour of the Secured
Parties. By way of example, should it be held that the security interest created under the
Agreement is contradicting Austrian capital maintenance rules in relation to any amount of the
Secured Obligations, the security interest created under the Agreement shall be reduced to the
maximum amount of the Secured Obligations which is permitted pursuant to Austrian capital
maintenance rules.

19. Choice of Law

This Agreement shall be governed in all respects by the laws of Austria.

20. Settlement of Disputes

20.1 Jurisdiction of English Courts

	(a)	 	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement).
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes and accordingly no Party will argue to the contrary.

20.2 Clause 20.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent
shall not be prevented from taking proceedings relating to a dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in
any number of jurisdictions.

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

	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of
process in relation to any proceedings before the English courts in connection with this
Agreement; and
	 
	(b)	 	agrees that failure by an agent for service of process to notify the Pledgor of the process
will not invalidate the proceedings concerned.

- 17 -

 

COLLATERAL AGENT

4 March 2010, London, United Kingdom

	 	 	 	 	 
	/s/ Elaine Lockhart
 	 
	Wilmington Trust (London) Limited 	 

	 	 	 	 	 
	By:  	Elaine Lockhart
 	 

PLEDGOR

4 March 2010, Sydney, Australia

	 	 	 	 	 
	/s/ Cindi Lefari
 	 
	SIG Austria Holding GmbH 	 

	 	 	 	 	 
	By:  	Cindi Lefari 
Attorney
 	 

	 	 	 	 	 
	/s/ Mark Dunkley
 	 
	SIG Austria Holding GmbH 	 

	 	 	 	 	 
	By:  	Mark Dunkley 
Attorney
 	 

- 18 -

 

	 	 	 	 	 

Schedule A

LIST OF BANK ACCOUNTS AND CREDIT INSTITUTIONS

as of the date of this Agreement

	 	 	 	 	 	 	 
	Credit Institution	 	Account Number	 	IBAN:	 	SWIFT:
	Bank Austria Credit Anstalt, Austria

	 	[____________]
	 	[____________]
	 	BKAUATWWSAL
	RZB Wien, Austria

	 	[____________]
	 	[____________]
	 	RZBAATWWXXX

- 19 -

 

Schedule B

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

SIG Austria Holding GmbH

c/o l [address outside of Austria]

To:

[the credit institution]

[address outside of Austria]

___________________, on ___________________

Reference: Notification of a pledge

Dear Sir/Madam,

This is to inform you that SIG Austria Holding GmbH, a limited company organised under the laws of
Austria with its corporate seat in Saalfelden am Steinernen Meer, Austria, and its business address
as at the date of this notification at Industriestraße 3, 5760 Saalfelden, Austria, and registered
in the Austrian companies register (Firmenbuch) under file number FN 236071 p, has pledged any and
all present and future rights, title and interests in/to all funds, proceeds, interest and other
rights held in, accruing on, standing to the credit of or arising in relation to all our bank
accounts with you in Austria, including but not limited to account no. __________________ at
[credit institution] (bank sort code __________________, swift Code __________________,
IBAN __________________), to Wilmington Trust (London) Limited, l, on l 2010. We hereby
notify you of such pledge.

- 20 -

 

[As agreed between SIG Austria Holding GmbH and you the pledges described above will rank ahead of
any pledges, encumbrances or other security interests you may have with respect to the pledged
accounts based on your general terms of business as of the date hereof. Furthermore, SIG Austria
Holding GmbH and you agree that you waive any rights of set-off as regards the pledged
accounts.]1

For the avoidance of doubt, unless and until you receive notice from the Wilmington Trust (London)
Limited to the contrary the account described above shall be operated as normal in accordance with
the account mandate that currently exists.

Please sign the enclosed copy of this letter for acknowledgement of receipt. By signing the copy
you acknowledge your agreement with the above in favour of SIG Austria Holding GmbH and Wilmington
Trust (London) Limited.

Yours sincerely,

 

SIG Austria Holding GmbH

 

			
	1	 	Wording to be used depending on the
result of the obligations of the Pledgor under clauses 6.2/6.3 of the Account
Pledge Agreement.

- 21 -

 

For acknowledgement of receipt and agreement with the above.

[place outside of Austria]_________, on _________

	 	 	 	 
	 	 	 	 	 
	[authorized signatory]

for

[credit institution]

	 	[authorized signatory]

for

[credit institution]	 	 

* * *

- 22 -exv4w162

EXHIBIT 4.162

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

Account Pledge Agreement

between

1. SIG Combibloc GmbH & Co KG

as Pledgor

and

2. Wilmington Trust (London) Limited

as Pledgee and Collateral Agent

 

 

	 	 	 	 	 
	Contents	 	 	 	 
	 
	Whereas:
	 	 	3	 
	1. Definitions
	 	 	3	 
	2. Construction
	 	 	7	 
	3. Secured Obligations
	 	 	7	 
	4. Pledges
	 	 	8	 
	5. Perfection of Security and Further Security
	 	 	8	 
	6. Waiver of credit institutions
	 	 	9	 
	7. Enforcement of Pledges
	 	 	10	 
	8. Undertakings of the Pledgor
	 	 	11	 
	9. Acknowledgment by Pledgor
	 	 	11	 
	10. Representations and Warranties of the Pledgor
	 	 	12	 
	11. Duration and Independence
	 	 	13	 
	12. Partial Invalidity; Waiver
	 	 	13	 
	13. Further Assurance
	 	 	14	 
	14. Amendments; Waiver
	 	 	14	 
	15. Miscellaneous
	 	 	14	 
	16. Execution in Counterparts
	 	 	16	 
	17. Stamp Duty
	 	 	16	 
	18. Capital maintenance
	 	 	16	 
	19. Choice of Law
	 	 	17	 
	20. Settlement of Disputes
	 	 	17	 
	 
	 	 	 	 
	Schedules
	 	 	 	 
	 
	Schedule A            List of the existing bank accounts (Clause 1)
	 	 	 	 
	 
	Schedule B            Notification the account holding bank (Clause 5.3)
	 	 	 	 

- 2 -

 

Whereas:

A. Pursuant to the Credit Agreement (as defined below) the Lenders (as defined therein) under this
agreement granted to the Borrowers (as defined below) facilities as provided therein.

B. Pursuant to the Senior Secured Note Indenture (as defined below) the Issuers (as defined
therein) have issued certain notes.

C. The Pledgor is foreseen to grant a pledge over its Accounts (as defined below) as security for
the Secured Parties’ (as defined below) respective claims against the Borrowers under the Loan
Documents (as defined below).

D. The security created by or pursuant to this Agreement (as defined below) is to be administered
by the Collateral Agent (as defined below) for and on behalf of the Secured Parties pursuant to the
relevant provisions of the First Lien Intercreditor Agreement (as defined below).

Now, it is agreed as follows:

1. Definitions

A term defined in the First Lien Intercreditor Agreement shall, unless otherwise defined in this
Agreement, have the same meaning when used in this Agreement or any notice given under or in
connection with this Agreement and in addition:

	 	 	 

	Accounts

	 	means the Existing Accounts and the Future Accounts.
	 
	 	 
	Additional Collateral
Agent’s Fee Letter

	 	means the fee letter dated 20 January 2010 among
the Collateral Agent and Reynolds Group Holdings
Limited as amended, novated, supplemented, restated
or modified from time to time.
	 
	 	 
	Agreed Security Principles

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

	 	means this account pledge agreement, as the same
may from time to time be varied, amended, extended,
restructured, renewed, novated, supplemented,
restated, replaced or modified from time to time.
	Amendment No.1 and
Joinder Agreement

	 	means the joinder agreement dated 21 January 2010
made among (amongst others) the Collateral Agent,
The Bank of

- 3 -

 

	 	 	 

	 

	 	New York Mellon, Credit Suisse AG and
Reynolds Group Holdings Limited pursuant to which
the Collateral Agent is appointed an additional
collateral agent and becomes party to the First
Lien Intercreditor Agreement.
	 
	 	 
	Borrowers

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Business Days

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Collateral Agent

	 	means Wilmington Trust (London) Limited, as joint
and several creditor for and on behalf of itself
and each of the Secured Parties on the terms and
conditions set out in the First Lien Intercreditor
Agreement. The term “Collateral Agent” shall
include any person for the time being appointed as
collateral agent, or as an additional collateral
agent, for the purpose of, and in accordance with,
the First Lien Intercreditor Agreement and shall
include successors, transferees and permitted
assigns.
	 
	 	 
	Collateral Rights

	 	means all rights, powers and remedies of the
Collateral Agent provided by this Agreement or by
law.
	 
	 	 
	Credit Agreement

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

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

	 	means any and all present and future rights, title
and interests in/to all funds, proceeds, interest
and other rights held in, accruing on, standing to
the credit of or arising in relation to all bank
accounts listed in Schedule A together with all
ancillary rights and claims associated therewith.

- 4 -

 

	 	 	 

	First Lien Intercreditor
Agreement

	 	means the first lien intercreditor agreement dated
5 November 2009 among (amongst others) The Bank of
New York Mellon as collateral agent and as trustee
under the Senior Secured Note Indenture, Credit
Suisse AG (formerly known as Credit Suisse) as
administrative agent under the Credit Agreement and
the Loan Parties, as amended, novated,
supplemented, restated or modified from time to
time (including by the Amendment No.1 and Joinder
Agreement which added the Collateral Agent as a
collateral agent under the First Lien Intercreditor
Agreement).
	 
	 	 
	Future Accounts

	 	means any and all present and future rights, title
and interests in/to all funds, proceeds, interest
and other rights held in, accruing on, standing to
the credit of or arising in relation to all bank
accounts in Austria which the Pledgor may acquire
in the future together with all ancillary rights
and claims associated therewith.
	 
	 	 
	Intercreditor Arrangements

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

	 	has the meaning given to it in the Senior Secured
Note Indenture, including their successors in
interest.
	 
	 	 
	Lien

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Loan Documents

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

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

	 	means Reynolds Group Holdings Limited (previously
known as Rank Group Holdings Limited).
	 
	 	 
	Parallel Obligations

	 	means the independent obligations of any of the
Loan Parties arising pursuant to the First Lien
Intercreditor Agreement to pay to the Collateral
Agent sums equal to the sums

- 5 -

 

	 	 	 

	 

	 	owed by such Loan
Party to the other Secured Parties (or any of them)
under the Loan Documents.
	 
	 	 
	Party

	 	means a party to this Agreement. The term “Parties”
means any of them.
	 
	 	 
	Pledge

	 	has the meaning given to it in Clause 4.1.
	 
	 	 
	Pledgee

	 	means the Collateral Agent.
	 
	 	 
	Pledgor

	 	means SIG Combibloc GmbH & Co KG, a limited
partnership organised under the laws of Austria
with its seat in Saalfelden am Steinernen Meer,
Austria, and its business address as at the date of
this Agreement at Industriestraße 3, 5760
Saalfelden, Austria, registered in the Austrian
companies register (Firmenbuch) under file number
FN 240335 i.
	 
	 	 
	Principal Finance
Documents

	 	means the Credit Agreement, the Senior Secured Note
Indenture, the Intercreditor Arrangements and any
Additional Agreement.
	 
	 	 
	Secured Obligations

	 	means all present and future obligations and
liabilities (whether actual or contingent and
whether owed jointly or severally or in any other
capacity whatsoever) of each Loan Party and each
grantor of a security interest to the Secured
Parties (or any of them) under each or any of the
Loan Documents, including in particular, but not
limited to, the Parallel Obligations, together with
all costs, charges and expenses incurred by any
Secured Party in connection with the protection,
preservation or enforcement of its respective
rights under the Loan Documents or any other
document evidencing or securing any such
liabilities.
	 
	 	 
	Secured Parties

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

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Senior Secured Note
Indenture

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

- 6 -

 

2. Construction

In this Agreement, unless the context otherwise requires:

	(a)	 	the rules of interpretation contained in the First Lien Intercreditor Agreement apply to the
construction of this Agreement and any notice given under or in connection with this
Agreement.
	 
	(b)	 	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement;
	 
	(c)	 	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement and
references to this Agreement include its Schedules;
	 
	(d)	 	words importing the plural shall include the singular and vice versa;
	 
	(e)	 	a reference to (or to any specified provision of) any agreement, deed or other instrument
(for the avoidance of doubt including, but not limited to, such agreements, deeds or other
instruments which are entered into prior to or after the conclusion of this Agreement) is to
be construed as a reference to that agreement, deed or other instrument or that provision as
from time to time amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified; and
	 
	(f)	 	this Agreement is subject to the terms of the Intercreditor Arrangements. In the event of a
conflict between the terms of this Agreement and the Intercreditor Arrangements, the terms of
the Intercreditor Arrangements will prevail.

3. Secured Obligations

3.1 The Pledges hereunder are constituted in order to secure the prompt and complete satisfaction
of any and all Secured Obligations. The security created hereunder shall remain in full force and
effect as a continuing security for the Secured Obligations unless and until the earlier of the
following occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit
waiver of any and all Secured Obligations or (iii) discharge in accordance with Clauses 15.1 or
15.2.

3.2 The parties to this Agreement agree that in the case of a transfer or assignment or novation of
any Secured Obligations in accordance with the terms of the Principal Finance Documents, the
Pledges hereunder shall not lapse but shall continue to secure such transferred or assigned or
novated Secured Obligations.

3.3 Furthermore, the parties to this Agreement agree that in case of a substitution of any Loan
Party or the assumption of any of the Secured Obligations from any Loan Party or the transfer of
any of the Secured Obligations from any Loan Party to another person, the

- 7 -

 

Pledges hereunder shall not lapse but shall continue to secure such Secured Obligations in
accordance with section 1407 para 2 of the Austrian General Civil Code (Allgemeines Bürgerliches
Gesetzbuch).

4. Pledges

4.1 The Pledgor hereby pledges to the Collateral Agent the Accounts (each a “Pledge” and together
the “Pledges”).

4.2 Subject to (a) obtaining any necessary consents to such pledge from any third party, (b) any
Liens permitted by the Principal Finance Documents, (c) any Legal Reservations (as defined in the
Credit Agreement) and (d) Clause 6.1 hereof, the Pledges shall rank ahead of any other Lien now in
existence or created in future in or over any of the Accounts. The validity and effect of each of
the Pledges shall be independent from the validity and effect of any other Pledges created
hereunder.

4.3 The Collateral Agent hereby accepts the Pledges.

4.4 Each of the Pledges is in addition and without prejudice to any other security that a Secured
Party may now or hereafter hold in respect of the Secured Obligations.

4.5 Notwithstanding any other provision of this Agreement, the Pledgor is permitted to pay into,
receive, withdraw or otherwise transfer any credit balance from time to time on the Accounts and
deal with the Accounts in any manner and to exercise all of its rights and benefits under and in
respect of the Accounts (including, but not limited to, the disposal of or closing of any Account
if permitted by the Principal Finance Documents) freely and without restrictions in accordance with
the terms and conditions of the Principal Finance Documents without reference to the Collateral
Agent prior to the delivery of a notice being given by the Collateral Agent to the Pledgor and the
respective account holding credit institution, if relevant (and after any such notice has been
revoked by the Collateral Agent). Such notice may be given by the Collateral Agent if required
under the terms of the Loan Documents and only if an Enforcement Event has occurred and is
continuing.

5. Perfection of Security and Further Security

5.1 The Pledgor shall, subject to the Agreed Security Principles, at all times (while this
Agreement is in existence) take all reasonable actions to ensure that all Accounts are marked as
being pledged in accordance with Austrian law (Buchvermerk).

5.2 In order to effectuate the Pledges hereunder the Pledgor shall promptly upon signing of this
Agreement record the Pledges in its company books and records, in the relevant individual account
and the open-item list as follows: The Pledgor shall at any time and all times include the
following annotation at the beginning of each account in its books concerning the respective
debtors’ individual (customer) accounts: “Alle auf diesem Konto gebuchten gegenwärtigen und
zukünftigen Forderungen wurden am l2010 an Wilmington Trust (Lon

- 8 -

 

don) Limited als Pfandnehmer, verpfändet”. [Datum des Buchvermerk] (“All present and future
receivables booked on this account have been pledged to Wilmington Trust (London) Limited as
pledgee on l2010”. [Date of the book entry]). Additionally, the Pledgor shall promptly
procure that the following text shall appear on every page of the list of outstanding claims
(Offene Posten Liste): “Alle nachstehend angeführten und alle künftigen Forderungen wurden am
l2010 an Wilmington Trust (London) Limited als Pfandnehmer verpfändet” [Datum des
Buchvermerk] (“All present and future receivables booked on this account have been pledged to
Wilmington Trust (London) Limited as pledgee on l2010” [Date of the book entry]).

5.3 The Pledgor will notify the credit institution holding the Existing Accounts mentioned in
Schedule A of the respective pledge within 4 weeks of this Agreement in respect of the Existing
Accounts by sending a notification in the form of Schedule B. The Pledgor will use all reasonable
endeavours to obtain an acknowledgement of such notice from the credit institution. In the case of
any Future Accounts the Pledgor will notify the credit institutions holding such Future Accounts of
the respective pledge upon acquiring such account by sending a notification in the form of Schedule
B within 4 weeks of opening such account and will use all reasonable endeavours to obtain an
acknowledgement of such notice by the credit institution. For the avoidance of doubt, the
Collateral Agent agrees that it will not serve a notice in respect of this Agreement or the Pledges
created hereunder on any credit institution with which an Account is held unless an Enforcement
Event has occurred and is continuing.

5.4 Upon the instructions of the Collateral Agent (acting on the reasonable instruction of the
Applicable Representative), which may be given at any time after signing this Agreement, the
Pledgor hereby, subject to the Agreed Security Principles, undertakes to take all actions
reasonably required in relation to the perfection of the Pledges created under this Agreement.

6. Waiver of credit institutions

6.1 Certain or all of the Existing Accounts listed in Schedule A may be subject to a waiver of any
rights of set-off or to other interests (such as a pledge) for the benefit of the account holding
credit institution arising by law or under such credit institution’s general business conditions.

6.2 The Pledgor shall use all reasonable endeavours to procure that each credit institution holding
an Existing Account listed in Schedule A waives any rights of set-off or other interest (such as a
pledge over all accounts and deposits) arising by law or under its general business conditions by
way of proposing the wording in paragraph 2 of Schedule B (in brackets) to the respective credit
institution and using all reasonable endeavours to obtain the acknowledgement as per clause 5.3.

6.3 The Pledgor shall use all reasonable endeavours to procure following service of a notice in the
form of Schedule B pursuant to Clause 5.3 upon whatsoever acquisition of a Future

- 9 -

 

Account by the Pledgor after the signing of this Agreement that each credit institution holding
such a Future Account waives any rights of set-off or other interest (such as a pledge over all
accounts and deposits) arising by law or under its general business conditions again by way of
proposing the wording in paragraph 2 of Schedule B (in brackets) to the respective credit
institution and using all reasonable endeavours to obtain the acknowledgement as per clause 5.3.

7. Enforcement of Pledges

7.1 The Pledgor herewith grants its express consent that if an Enforcement Event has occurred and
is continuing, the Pledges shall become enforceable by the Collateral Agent. The Collateral Agent
may at any time thereafter (while the Enforcement Event is still continuing) avail itself of all
rights and remedies that a pledgee has upon default of a pledgor under the laws of Austria. In
particular, but not limited to, the Collateral Agent shall be entitled to set-off (Verrechnung auf
die Schuld) any and all payments received with regard to the Accounts without writ, judgement or
any other legal court action with the Secured Obligations if an Enforcement Event has occurred and
is continuing. The Collateral Agent may also request the transfer of and collect any amounts in
relation to the Accounts without writ, judgement or any other legal court action with the Secured
Obligations if an Enforcement Event has occurred and is continuing. The Pledgor grants its explicit
consent to such set-off and such out-of-court enforcement in accordance with this Clause 7.1. For
the avoidance of doubt, the Collateral Agent agrees that it will not serve a notice in respect of
this Agreement or the Pledges created hereunder on any credit institution with which an Account is
held unless an Enforcement Event has occurred and is continuing.

7.2 In case the Secured Parties acting through the Collateral Agent should seek to enforce the
Pledges pursuant to, and in accordance with Clause 7.1, the Pledgor shall, at its own expense,
render forthwith all necessary assistance in order to facilitate the prompt realisation of the
Accounts or any part thereof and/or the exercise by the Secured Parties acting through the
Collateral Agent of any other right they may have under this Agreement as Secured Parties.

7.3 In the event of the enforcement of the Pledges, no rights of the Secured Parties shall pass to
the Pledgor by subrogation or otherwise unless and until all of the Secured Obligations have been
satisfied and discharged finally and in full. Until then, the Secured Parties shall be entitled to
treat all enforcement proceeds as additional collateral for the Secured Obligations or to seek
satisfaction from such proceeds at any time.

7.4 The proceeds from the enforcement of the Pledges shall, after deduction of enforcement costs,
which are to be borne by the Pledgor to the extent set out in the Principal Finance Documents, and
any preferential debts, be paid to the Collateral Agent. Any moneys received by the Collateral
Agent pursuant to this Agreement and/or under the powers hereby conferred shall be applied by the
Collateral Agent in accordance with the terms of the Inter-

- 10 -

 

creditor Arrangements, save that any amount received or recovered in excess of the Secured
Obligations shall be returned to the Pledgor.

7.5 The Collateral Agent may determine which of the securities granted pursuant to the Security
Documents, if applicable, shall be used to satisfy the Secured Obligations in accordance with the
Intercreditor Arrangements.

7.6 The Pledgor waives its rights of revocation (Anfechtbarkeit) to the extent legally permissible
and its right to set-off (Aufrechenbarkeit).

7.7 The Pledgor grants his express consent and authorization to the enforcement of the Pledges by
the Collateral Agent in accordance with Clauses 7.1 to 7.6.

7.8 Subject to the terms of and to the extent set out in the Principal Finance Documents the
Pledgor agrees that the Collateral Agent, its officers, employees, advisors, agents and delegates
shall not be bound by any applicable banking secrecy obligations, including, but not limited to,
the obligation as stipulated in section 38 of the Austrian Banking Act (Bankwesengesetz), in
connection with the creation and enforcement of the Pledges.

8. Undertakings of the Pledgor

During the term of this Agreement, the Pledgor undertakes to the Secured Parties (unless with the
prior written consent of the Collateral Agent (acting on the reasonable instructions of the
Applicable Representative) or unless otherwise permitted by the terms of the Principal Finance
Documents or this Agreement):

	(a)	 	not to sell or to dispose of the Accounts or any interest therein; and
	 
	(b)	 	not to create or agree to create, grant or permit to exist any restriction on the ability to
transfer or realise, all or any part of the Accounts; and
	 
	(c)	 	if an Enforcement Event has occurred and is continuing, not to establish new accounts with
any bank or financial institution and not to instruct its debtors to pay any amounts owed to
it into such new bank account; and
	 
	(d)	 	if an Enforcement Event has occurred and is continuing, to provide to the Collateral Agent
upon its request a certificate containing such information on the Accounts (including, without
limitation, information on perfection of the Pledges) as the Collateral Agent may request
(acting on the reasonable instruction of the Applicable Representative).

9. Acknowledgment by Pledgor

The Pledgor acknowledges that:

- 11 -

 

	(a)	 	to its knowledge it will receive adequate direct or indirect benefits as a result of the
transactions contemplated by the Loan Documents; and
	 
	(b)	 	to its knowledge each Secured Party has acted in good faith in connection with the Pledges
pursuant to this Agreement and the transactions contemplated by the Loan Documents.

10. Representations and Warranties of the Pledgor

10.1 The Pledgor represents and warrants to the Collateral Agent and the other Secured Parties that
on the date of this Agreement with reference to the facts and circumstances then existing:

	(a)	 	it has good title to the Existing Accounts held by it, subject to any Liens permitted by the
Principal Finance Documents, and it has not sold or otherwise disposed of or agreed to sell or
otherwise dispose of the Existing Accounts or any of its rights or benefits in respect of the
Existing Accounts, in each case except as permitted by the Principal Finance Documents or this
Agreement; and
	 
	(b)	 	it will have good title to the Future Accounts held by it, subject to any Liens permitted by
the Principal Finance Documents, and it will not sell or otherwise dispose of or agree to sell
or otherwise dispose of the Future Accounts or any of its rights or benefits in respect of the
Future Accounts, in each case except as permitted by the Principal Finance Documents or this
Agreement; and
	 
	(c)	 	its rights in relation to the Existing Accounts held by it are not subject to any Liens and
there are no other third party rights whatsoever affecting the Existing Accounts held by it,
in each case except for any Liens or third party rights permitted by the Principal Finance
Documents; and
	 
	(d)	 	its rights in relation to the Future Accounts held by it will not be subject to any Liens and
there will not be other third party rights whatsoever affecting the Future Accounts held by
it, in each case except for any Liens or third party rights permitted by the Principal Finance
Documents.

10.2 All the representations and warranties in Clause 10.1 are made to each Secured Party on the
date of this Agreement and all such representations and warranties are deemed to be repeated as
true and correct in each material respect by the Pledgor to each Secured Party on the date of a
Credit Event (as defined in the Credit Agreement) during the continuance of this Agreement.

- 12 -

 

11. Duration and Independence

11.1 This Agreement shall remain in full force and effect until the earlier of the following
occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit waiver of any
and all Secured Obligations or (iii) discharge in accordance with Clauses 15.1 or 15.2.

11.2 This Agreement shall create a continuing security which means that no change, amendment,
supplement or novation whatsoever of the Secured Obligations and/or in the Loan Documents or in any
document or agreement related to the Secured Obligations and/or any of the Loan Documents shall
affect the validity or the scope of this Agreement nor the obligations which are imposed on the
Pledgor pursuant hereto.

11.3 This Agreement is independent from any other security or guarantee which may have been or will
be given in favour of the Secured Parties. None of such other security or guarantee shall
prejudice, or shall be prejudiced by, or shall be merged in any way with this Agreement.

12. Partial Invalidity; Waiver

12.1 If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to such
jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity,
legality and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced by
such valid, legal or enforceable provision which comes as close as possible to the original intent
of the parties in respect of the invalid, illegal or unenforceable provision.

12.2 In particular, the Pledges shall not be affected and shall in any event extend to any and all
Accounts even if the information on the Existing Accounts as stated in Schedule A is inaccurate or
deviates from the actual facts.

12.3 No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or
the Secured Parties, 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.

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

- 13 -

 

13. Further Assurance

13.1 Subject to the Agreed Security Principles, the Pledgor shall promptly execute all documents
(including transfers) and do all things (including the delivery, transfer, assignment or payment of
all or part of the Accounts to the Collateral Agent or its nominee(s)) that the Collateral Agent
may specify (upon the reasonable instruction of the Applicable Representative) for the purpose of
(a) (if an Enforcement Event has occurred and is continuing) exercising the Collateral Rights or
(b) securing and perfecting the security intended to be created by this Agreement over all or any
part of the Accounts.

13.2 At any time if an Enforcement Event has occurred and is continuing, the Pledgor shall upon
demand from the Collateral Agent execute all documents and do all other things that the Collateral
Agent may require (upon the reasonable instruction of the Applicable Representative) to facilitate
the realisation of the Accounts.

14. Amendments; Waiver

Any amendments, changes, variations or waivers to this Agreement may be made only with the
agreement of the Pledgor and the Collateral Agent in writing and, if required under Austrian
statutory law, in the form of a notarial deed. This applies also to this Clause 14.

15. Miscellaneous

15.1 The security constituted by this Agreement shall be released, reassigned, re-transferred and
cancelled:

	 	(a)	 	by the Collateral Agent (acting on the instructions of the Applicable Representative)
at the request and cost of the Pledgor, upon the Secured Obligations being irrevocably paid
or discharged in full and none of the Secured Parties being under any further actual or
contingent obligation to make advances or provide other financial accommodation to the
Pledgor or any other person under any of the Loan Documents; or
	 
	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor Arrangements (to
the extent it is possible to give effect to such arrangements under Austrian law).

15.2 If the Pledgor disposes of any Accounts and that disposal is permitted by the Principal
Finance Documents, such Accounts shall, unless an Enforcement Event has occurred and is continuing,
be automatically released, re-assigned, re-transferred and cancelled from the security constituted
by this Agreement with effect from the day of such disposal and the Collateral Agent (at the
expense and cost of the Pledgor) shall do all such acts which are reasonably requested by the
Pledgor in order to release, re-assign, re-transfer and cancel the relevant Accounts from the
security constituted by this Agreement. Any or all of the Ac-

- 14 -

 

counts shall also be released, re-assigned, re-transferred and cancelled in accordance with and to
the extent permitted by the Intercreditor Arrangements.

15.3 Any settlement or discharge between the Pledgor and the Collateral Agent shall be conditional
upon no security or payment to the Collateral Agent by the Pledgor or any Loan Party being avoided,
set aside, ordered to be refunded or reduced by virtue of any provision or enactment relating to
insolvency, and accordingly the Collateral Agent shall be entitled to recover from the Pledgor that
security or the amount of any such payment as if that settlement or discharge had not occurred.

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

15.5 For the purpose of or pending the discharge of any of the Secured Obligations, the Collateral
Agent may convert any money received, recovered or realised or subject to application by it under
this Agreement from one currency to another, which the Collateral Agent considers necessary (acting
on the reasonable instruction of the Applicable Representative) to cover the obligations and
liabilities comprised in the Secured Obligations and any such conversion shall be effected at the
Collateral Agent’s spot rate of exchange for the time being for obtaining such other currency with
the first currency.

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

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

15.8 To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement and in the
Additional Collateral Agent’s Fee Letter, the Pledgor shall, notwithstanding any release or
discharge of all or any part of the security, indemnify the Collateral Agent, its agents, its
attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes 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

- 15 -

 

the rights and powers conferred on them by this Agreement or otherwise relating to the Accounts.

15.9 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 of the Applicable Representative. 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.

15.10 For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the Applicable Representative in accordance with Clause 2.02(a)(i) 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 Applicable Representative under this
Agreement are reasonable, and that any question as to the reasonableness or otherwise of such
instructions shall be determined as between the Applicable Representative and the Pledgor.

16. Execution in Counterparts

This Agreement may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same Agreement. In this respect the Collateral
Agent and the Pledgor agree not to contest the validity of an uncertified copy of this Agreement in
any court or enforcement proceedings in the Republic of Austria.

17. Stamp Duty

The Parties agree that the provisions of sections 9.19 (Place of Performance) and 9.20 (Austria
Stamp Duty) of the Credit Agreement (and, if the Credit Agreement is no longer in existence, an
equivalent clause in any Additional Agreement) and the provisions of sections 5.15 (Place of
Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor Agreement (and, if the
First Lien Intercreditor Agreement is no longer in existence, an equivalent clause in any
Intercreditor Arrangements) shall apply to this Agreement as if incorporated herein mutatis
mutandis, to the extent relating to the Pledgor and the Collateral Agent.

18. Capital maintenance

18.1 The liability of the Pledgor under this Agreement shall at all times be limited so that at no
time the granting of security under this Agreement be required if this would violate mandatory
Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) pursuant to Austrian company
law, in particular Sections 82 et seq of the Austrian Act on Limited Liability

- 16 -

 

Companies (Gesetz über Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of
the Austrian Stock Corporation Act (Aktiengesetz).

18.2 Should any obligation under this Agreement violate or contradict Austrian capital maintenance
rules and should therefore be held invalid or unenforceable, such obligation shall be deemed to be
replaced by an obligation of a similar nature which is in compliance with Austrian capital
maintenance rules and which provides the best possible security interest in favour of the Secured
Parties. By way of example, should it be held that the security interest created under the
Agreement is contradicting Austrian capital maintenance rules in relation to any amount of the
Secured Obligations, the security interest created under the Agreement shall be reduced to the
maximum amount of the Secured Obligations which is permitted pursuant to Austrian capital
maintenance rules.

19. Choice of Law

This Agreement shall be governed in all respects by the laws of Austria.

20. Settlement of Disputes

20.1 Jurisdiction of English Courts

	(a)	 	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement).
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes and accordingly no Party will argue to the contrary.

20.2 Clause 20.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent
shall not be prevented from taking proceedings relating to a dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in
any number of jurisdictions.

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

	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of
process in relation to any proceedings before the English courts in connection with this
Agreement; and
	 
	(b)	 	agrees that failure by an agent for service of process to notify the Pledgor of the process
will not invalidate the proceedings concerned.

- 17 -

 

COLLATERAL AGENT

4 March 2010, London, United Kingdom

	 	 	 	 
	/s/ Elaine Lockhart
 	 
	Wilmington Trust (London) Limited 	 

By: Elaine Lockhart

PLEDGOR

4 March 2010, Sydney, Australia

	 	 	 	 
	/s/ Cindi Lefari
 	 
	SIG Combibloc GmbH & Co KG 	 
	represented by its general partner SIG Combibloc GmbH 	 

     Cindi Lefari

     Attorney

	 	 	 	 
	/s/ Mark Dunkley
 	 
	SIG Combibloc GmbH & Co KG 	 
	represented by its general partner SIG Combibloc GmbH
 	 

     Mark Dunkley

     Attorney

- 18 -

 

Schedule A

LIST OF BANK ACCOUNTS AND CREDIT INSTITUTIONS

as of the date of this Agreement

	 	 	 	 	 	 	 
	Credit Institution	 	Account Number	 	Swift:	 	IBAN
	Bank Austria Creditanstalt,
Rainerstr. 2, 5020 Salzburg

	 	[____________]
(EUR)
	 	BKAUATWWSAL
	 	[_________________]
	 
	 	 	 	 	 	 
	Bank Austria Creditanstalt,
Rainerstr. 2, 5020 Salzburg

	 	[____________]
(USD)
	 	BKAUATWWSAL
	 	[_________________]
	 
	 	 	 	 	 	 
	Raiffeisenbank, Lofererstrasse 5,
5760 Saalfelden

	 	[____________]
(EUR)
	 	RVSAAT2S053
	 	[_________________]
	 
	 	 	 	 	 	 
	Raiffeisen Zentralbank Österreich
AG, Am Stadtpark 9, A-1030 Wien

	 	[____________]
(EUR)
	 	RZBAATWWXXX
	 	[_________________]
	 
	 	 	 	 	 	 
	Raiffeisen Zentralbank Österreich AG
Am Stadtpark 9, A-1030 Wien

	 	[____________] (USD)
	 	RZBAATWW
	 	[_________________]

- 19 -

 

Schedule B

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

SIG Combibloc GmbH & Co KG

c/o l [address outside of Austria]

To:

[the credit institution]

[address outside of Austria]

___________________, on ___________________

Reference: Notification of a pledge

Dear Sir/Madam,

This is to inform you that SIG Combibloc GmbH & Co KG, a limited partnership organised under the
laws of Austria with its corporate seat in Saalfelden am Steinernen Meer, Austria, and its business
address as at the date of this notification at Industriestraße 3, 5760 Saalfelden, Austria, and
registered in the Austrian companies register (Firmenbuch) under file number FN 240335 i, has
pledged any and all present and future rights, title and interests in/to all funds, proceeds,
interest and other rights held in, accruing on, standing to the credit of or arising in relation to
all our bank accounts with you in Austria, including but not limited to account no.
__________________ at [credit institution] (bank sort code __________________, SWIFT Code
__________________, IBAN __________________), to Wilmington Trust (London) Limited, l, on
l 2010. We hereby notify you of such pledge.

- 20 -

 

[As agreed between SIG Combibloc GmbH & Co KG and you the pledges described above will rank ahead
of any pledges, encumbrances or other security interests you may have with respect to the pledged
accounts based on your general terms of business as of the date hereof. Furthermore, SIG Combibloc
GmbH & Co KG and you agree that you waive any rights of set-off as regards the pledged
accounts.]1

For the avoidance of doubt, unless and until you receive notice from the Wilmington Trust (London)
Limited to the contrary the account described above shall be operated as normal in accordance with
the account mandate that currently exists.

Please sign the enclosed copy of this letter for acknowledgement of receipt. By signing the copy
you acknowledge your agreement with the above in favour of SIG Combibloc GmbH & Co KG and
Wilmington Trust (London) Limited.

Yours sincerely,

 	 	 	 	 
	 	 
	
 	 
	SIG Combibloc GmbH & Co KG 	 
	
 	 

 

			
	1	 	Wording to be used depending on the
result of the obligations of the Pledgor under clauses 6.2/6.3 of the Account
Pledge Agreement.

- 21 -

 

For acknowledgement of receipt and agreement with the above.

[place outside of Austria]_________, on _________

	 	 	 

	 

	 	 
	[authorized signatory]

	 	[authorized signatory]
	for

	 	for
	[credit institution]

	 	[credit institution]

¬ ¬ ¬

- 22 -

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