Document:

exv4w143

EXHIBIT
4.143

Dr. Bókai
Judit közjegyző

Budapest, II. ker. Kapás u. 31., V. em. 43.

Postacím: 1277 Budapest, Pf. 86.

Tel: 201-5083, 212-4265, Fax: 212-4275

Honlap: www.bokai.hu

English licence No. 2/2008.

Deed Number: 11015/Ü/94/2010.

Certified Office Copy

NOTARIAL DEED

Before me,
Dr. Vető Péter Notary substitute, acting for Dr. Judit Bókai, a Notary of Budapest, the
following Parties appeared at the Notary’s office (1027 Budapest, Kapás utca 31. V/43.) at the date
below:

	 	(1)	 	CSI Hungary Gyártó és Kereskedelmi
Korlátolt Felelősségű Társaság a limited liability
company (korlátolt felelősségű társaság) incorporated under the laws of Hungary, having
its registered seat as at the date of this Agreement at H-8000 Székesfehérvár, Berényi út
72-100., Hungary, registered under registration number: Cb.07-09-013757, with tax
identification number 14122952-2-07 (hereinafter referred to as the “Chargor”,
“Depositor”, “Hungarian Company” ); represented by

	 	 	 	Dr. Horvai-Hillenbrand Péter (born: Budapest, 17. August 1979., mother’s maiden name:
Fekete Gabriella), residing at 1124 Budapest, Vércse u. 6. II/2., who established his
identity by his identity card number 940137CA and his attorney’s certificate number A/8158,
lot number 17883 who established by a power of attorney that he is legally entitled to
execute this document alone and to undertake the obligations contained in this Agreement,
	 
	 
	 	(2)	 	Wilmington Trust (London) Limited, registered seat at 6 Broad Street Place, London
EC2M 7JH United Kingdom, registration number: 05650152, acting as chargee under this
Agreement, in its capacity as collateral agent, acting on behalf and for the benefit of
the Secured Parties (as defined below), as appointed under the First Lien Intercreditor
Agreement (as defined below) and authorised to represent their joint and several rights in
connection with this Agreement (hereinafter, with its successors, permitted transferees
and permitted assigns in such capacity, referred to as the “Collateral Agent” or the
“Chargee”;
	 
	 	 	 	represented by
	 
	 	 	 	Dr. Pelikán Melinda (born in: Budapest, 21. December 1976, mother’s maiden name: Németh
Erzsébet), residing at 1077 Budapest, Rejtő Jenő u. 6., who established her identity by her
identity card number 330193 DA and who established by a power of attorney that she is
legally entitled to execute this document alone and to undertake the obligations contained
in this Agreement,
	 
	 	(1)	 	and (2) are together hereinafter referred to as the “Parties” and “Party”
means any of them, as the context may require.
	 
	 	 	 	The representatives of the Parties declared, with full knowledge of their potential
criminal responsibility and liability, that the Party represented by them has been properly
established and is currently existing and that they, as representatives with

 

 

	 	 	 	signing authority pursuant to the above, are authorised to make the declarations necessary
for inclusion in the present notarial deed in the name of the Party which they represent.
	 
	 	 	 	The Notary substitute in advance informed the concerned Parties of the purpose and method
of, and the personal data affected by the procedure of identity-control; the obligation of
the Notary to refuse notarial involvement, and the duty of notification thereof prescribed
in Section 122 (8) of Act XLI. of 1991. on public notaries; and furthermore, about the
procedure of handling the personal data thus obtained.
	 
	 	 	 	who requested that I incorporate into a notarial deed the following:

CHARGE AND SECURITY DEPOSIT OVER BANK ACCOUNTS AGREEMENT

(BANKSZÁMLA-KÖVETELÉSEN
ALAPÍTOTT ZÁLOG- ÉS ÓVADÉKI SZERZŐDÉS)

WHEREAS

	(A)	 	Pursuant to the Loan Documents (as defined below) the Chargor was requested to provide
security to the Chargee for the Obligations under the Loan Documents (each as defined below).
	 
	(B)	 	The Parties have agreed to enter into this Agreement to create a security interest over the
Accounts (as defined below) in accordance with and subject to the terms and conditions as set
out herein.
	 
	(C)	 	The Secured Parties (as defined below) have duly authorised and empowered the Chargee to
enter into this Agreement and to represent their joint and several rights in connection with
the security interest over the Accounts, acting for its own and for the Secured Parties’
benefit.

NOW IT IS HEREBY AGREED AS FOLLOWS:

	1.	 	INTERPRETATION
	 
	1.1	 	Definitions

	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in the
First Lien Intercreditor Agreement has the same meaning in this Agreement and in any notice
given under this Agreement.
	 
	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the banks with whom the Accounts listed in Schedule 1 (List of Bank
Accounts) of this Agreement are held, and “Account Bank” means any of them.
	 
	 	 	“Accounts” means together the Hungarian bank accounts of the Hungarian Company listed in
Schedule 1 (List of Bank Accounts) of this Agreement, and “Account” means any of them.

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	 	 	“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.
	 
	 	 	“Applicable Representative” has the meaning given to that term in the First Lien
Intercreditor Agreement.
	 
	 	 	“Authorisation to Act on a Prompt Collection Order” means the authorisation sent to an
Account Bank by the Hungarian Company in a similar form as set out in Schedule 3 (Form of
Authorisation to Act on a Prompt Collection Order) or in a form acceptable to the Collateral
Agent, in accordance with Decree No. 18/2009. of the National Bank of Hungary on Money
Circulation.
	 
	 	 	“Business Day” means a day (other than Saturday or Sunday) on which banks are open for
business in New York, London and Budapest.
	 
	 	 	“Charge” has the meaning given to such term in Clause 2.1.
	 
	 	 	“Civil Code” means Act IV of 1959 (as amended) on the Civil Code of the Republic of Hungary.
	 
	 	 	“Collateral” means all rights and interests in respect of all amounts at any time held on
the Accounts.
	 
	 	 	“Court Enforcement Act” means Act LIII of 1994 on Judicial Execution.
	 
	 	 	“Credit Agreement” means the Credit Agreement dated as of 5 November 2009, among Closure
Systems International B.V., Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.
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, attached as Part I of Schedule 4
(Credit Agreement) to this Agreement.
	 
	 	 	“Enforcement Event ” means the occurrence of an Event of Default which is continuing
unremedied and unwaived and in respect of which a notice has been served in accordance with
Article VII of the Credit Agreement or the equivalent provisions of the other Principal
Finance Documents except that any rights of the Chargee in respect of the preservation of
the assets or the security may be exercised if the Chargee determines that they are required
to be exercised if an Event of Default has occurred and is continuing (i.e. without any
notice).
	 
	 	 	“Event of Default” means an “Event of Default” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated as
of 5 November 2009, among the Collateral Agent, The Bank of New York Mellon, as trustee
under the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse),
as administrative agent under the Credit Agreement, and the

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	 	 	Loan Parties, as amended, novated, supplemented, restated or modified from time to time
(including by the Joinder Agreement which added the Collateral Agent as a collateral agent
under the First Lien Intercreditor Agreement), attached as Part III of Schedule 4 (First
Lien Intercreditor Agreement) to this Agreement.

	 	 	“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” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.
	 
	 	 	“Joinder Agreement” means the joinder agreement dated on 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of 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 a party to the First Lien Intercreditor Agreement.
	 
	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).
	 
	 	 	“Notice of Charge over Accounts” means the notice sent to an Account Bank by the Hungarian
Company substantially in a similar form as set out in Schedule 2 (Form of Notice of Charge
over Accounts) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Notice of Enforcement Event” means a notice sent to an Account Bank by the Collateral Agent
substantially in a similar form as set out in Schedule 2 (Form of Notice of Enforcement
Event) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Notice of Security Deposit” means a notice sent to an Account Bank by the Collateral Agent
substantially in a similar form as set out in Schedule 2 (Form of Notice of Security
Deposit) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Obligations” means all present and future obligations and liabilities including Parallel
Debt (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, 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.

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	 	 	“Parallel Debt” 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 and in the currency of each amount payable by such Loan Party to each of the Secured
Parties under each of the Loan Documents.
	 
	 	 	“Principal Finance Document” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.
	 
	 	 	“Prompt Collection Order” means any prompt collection order (azonnali beszedési megbízás)
sent to an Account Bank by the Collateral Agent substantially in the form set out in
Schedule 3 (Form of Authorisation to act on a Prompt Collection Order) or if such form is
not acceptable to any of the Account Banks, in any form so required.
	 
	 	 	“Prompt Collection Right” means any and all rights of the Collateral Agent, if an
Enforcement Event has occurred, to collect amounts from the Accounts on the basis of a
Prompt Collection Order granted under this Agreement.
	 
	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Secured Principal” has the meaning given to such term in Clause 2.1 of this 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, attached as Part II of Schedule 4 (Senior Secured Note Indenture) to this
Agreement.

	1.2	 	Construction

	 	1.2.1	 	Headings are for convenience of reference only.
	 
	 	1.2.2	 	Where the context so permits, the singular includes the plural and vice versa.
	 
	 	1.2.3	 	Save where the contrary is indicated, any reference in this Agreement to the
“Chargee”, the “Chargor”, a “Secured Party”, the “Depositor”, the “Hungarian Company”,
the “Collateral Agent”, a “Loan Party” or a “Lender” shall be construed so as to
include its (or their) respective successors, transferees and assignees from time to
time and any successor of such a successor, transferee or assignee in accordance with
its (or their) respective interests.
	 
	 	1.2.4	 	The Parties agree and confirm that any person becoming a transferee of any
rights and obligations of the Collateral Agent under the First Lien Intercreditor
Agreement shall thereupon become entitled to the benefit of the provisions contained
herein as if it had originally been and had been named as a party hereto.
	 
	 	1.2.5	 	References to Clause and Schedule shall, subject to any indication to the
contrary, mean the respective Clause and Schedule of this Agreement.

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	 	1.2.6	 	References to the Credit Agreement, the First Lien Intercreditor Agreement,
the other Loan Documents, this Agreement or any other agreement or document shall,
where applicable, be deemed to be references to such Credit Agreement, the First Lien
Intercreditor Agreement, the other Loan Documents, this Agreement or such other
agreement or document as the same may have been, or may from time to time be, amended,
extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, as persons may accede thereto as a party or withdraw
therefrom as a party in part or in whole or be released thereunder in part or in whole,
and as facilities and financial services are or may from time to time be granted,
extended, prolonged, increased, reduced, cancelled, withdrawn, amended, restated,
supplemented, restructured, refunded, replaced, modified, renewed or novated
thereunder.
	 
	 	1.2.7	 	Any amount will be deemed irrevocably paid in full if it has been paid in
full and there is no evidence such as to give a reasonable belief that any claim will
be brought to revoke such payment.
	 
	 	1.2.8	 	References to any element of the legislation, statute, act, law, regulation
or any provision thereof shall, where applicable, be deemed to be references to that
element of the legislation, as amended or re-enacted.
	 
	 	1.2.9	 	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.

	2.	 	CHARGE
	 
	2.1	 	Creation of the Charge

	 	2.1.1	 	In order to secure the Obligations up to the maximum amount of:

	 	(i)	 	USD 2,280,000,000 (that is two billion two hundred and eighty million
U.S.$ and EUR 780,000,000 (that is seven hundred and eighty million euro) (the
“Secured Principal”); plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan
Documents); plus all accrued default interest (as calculated in accordance
with Loan Documents); plus any other amounts, monetary obligations,
indemnities, fees, commissions, costs and expenses arising under and payable
in accordance with the terms of the Loan Documents, which amounts, monetary
obligations, indemnities, fees, commissions, costs, expenses, and the costs of
the enforcement of this Agreement shall not exceed an aggregate amount
representing 40% of the aggregate amount of Secured Principal,

	 	 	 	the Chargor hereby grants to the Chargee a first priority charge over the Accounts
and the Collateral in accordance with Sections 267 and 268 of the Civil Code (the
“Charge”).
	 
	 	2.1.2	 	The Chargee hereby accepts such Charge.

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	2.2	 	Nature of the Charge

	 	2.2.1	 	The Charge constituted by, and pursuant to, this Agreement shall:
	 
	 	(a)	 	subject to any Lien permitted by the Loan Documents be a first priority
security over the Accounts and the Collateral; and
	 
	 	(b)	 	to the extent permitted by Hungarian law, be of the nature of “framework
security” (“keretbiztosítéki jellegű”), the maximum amount of which is the sum set out
under Clause 2.1. If the framework security nature of the Charge constituted by this
Agreement is not recognised by a court for any reason, then the Charge shall be deemed
to secure the Obligations.
	 
	 	2.2.2	 	The Charge constituted by this Agreement will come into existence upon the
execution of this Agreement in the form of a notarial deed.

	2.3	 	Prompt Collection Right

	 	2.3.1	 	In order to secure the Obligations (as set out above) and to facilitate the
enforcement of the Charge or the Security Deposit (as applicable) as set out in this
Agreement, the Hungarian Company hereby grants to the Chargee a Prompt Collection Right
in respect of, and over, the Accounts.
	 
	 	2.3.2	 	The Hungarian Company undertakes to deliver to the Account Banks within
twenty (20) Business Days of the execution of this Agreement, (i) a Notice of Charge
over Accounts and (ii) an Authorisation to Act on Prompt Collection Order:

	 	(a)	 	notifying the Account Banks of the establishment of the Prompt
Collection Right and the Charge over the Accounts;
	 
	 	(b)	 	authorising the Account Banks that, after the delivery of a Notice of
Enforcement Event by the Chargee to the Account Banks, they should comply with
any Prompt Collection Order received by it from the Chargee for the withdrawal
of amounts from the Accounts held with them; and
	 
	 	(c)	 	notifying the Account Banks that after the delivery of a Notice of
Enforcement Event by the Chargee to the Account Banks, the Chargee is entitled
to demand the amounts held on the Accounts as set out in Article 268(2) of the
Civil Code, and authorising the Account Banks to comply with such demand.

	 	2.3.3	 	The Hungarian Company shall use its reasonable efforts, for a period of
thirty (30) days after service, to obtain the acknowledgement of receipt of the (i)
Notice of Charge over Accounts and (ii) Authorisation to Act on Prompt Collection Order
by the Account Banks.

	2.4	 	Enforcement of the Charge

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	 	2.4.1	 	The Chargor hereby acknowledges that if an Enforcement Event has occurred,
the Chargee becomes immediately entitled to enforce the Charge as set out in Clauses
2.4.2 to 2.4.4 below.
	 
	 	2.4.2	 	If the Chargee becomes entitled to enforce the Charge and the Prompt
Collection Right pursuant to Clause 2.4.1, the Chargee shall notify the Account Banks
about the occurrence of an Enforcement Event in the Notice of Enforcement Event and the
Charge may be enforced, upon the decision of the Chargee made in its absolute
discretion, by

	 	(a)	 	exercising the Prompt Collection Right by issuing and delivering a
Prompt Collection Order to the Account Banks; or
	 
	 	(b)	 	demanding the amounts held on an Account from any of the Account
Banks in accordance with Article 268(2) of the Civil Code; or
	 
	 	(c)	 	court enforcement proceedings (as set out in Article 255(1) of the
Civil Code).

	 	2.4.3	 	The Chargor shall, upon the request of the Chargee upon the exercise of the
rights of the Chargee under Clause 2.4.1 above, deliver any document relating to the
Accounts and/or the Collateral, which is required by the Chargee for the purposes of
exercising its rights under Clause 2.4 of this Agreement.
	 
	 	2.4.4	 	The Chargee shall utilise the proceeds received under this Clause 2.4 and
shall return the surplus amounts, if any, in accordance with the provisions of the
First Lien Intercreditor Agreement.

	3.	 	SECURITY DEPOSIT
	 
	3.1	 	Subject to Clause 3.2 and in order to secure the Obligations, the maximum aggregate
amount of:

	 	(i)	 	the Secured Principal; plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan
Documents); plus all accrued default interest (as calculated in accordance
with Loan Documents); plus any other amounts, monetary obligations,
indemnities, fees, commissions, costs and expenses arising under and payable
in accordance with terms of the Loan Documents, which amounts, monetary
obligations, indemnities, fees, commissions, costs, expenses, and the costs of
the enforcement of this Agreement shall not exceed an aggregate amount
representing 40% of the aggregate amount of Secured Principal,

	 	 	the Depositor hereby creates a security deposit (in Hungarian “óvadék”) over the entire
balance (from time to time) of the Accounts in accordance with Sections 270 and 271 of the
Civil Code in favour of the Collateral Agent (the “Security Deposit”).
	 
	3.2	 	The Security Deposit shall be perfected if an Enforcement Event has occurred in
accordance with Clause 3.3 below.

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	3.3	 	If an Enforcement Event has occurred, the Collateral Agent shall be entitled to
perfect the Security Deposit created hereunder, in a way that dispatches a Notice of Security
Deposit in which it instructs the Account Banks to block the Accounts in part or in whole
which blocking of the Accounts shall be considered as a hand over of the Collateral (in
Hungarian “átadás”) in respect of the Account blocked to the Collateral Agent within the
meaning of Section 270 (2) of the Civil Code (the “Perfection of the Security Deposit”).
	 
	3.4	 	Following the Perfection of the Security Deposit set out in Clause 3.3 above, the
Collateral Agent becomes entitled to directly — i.e. without judicial execution — satisfy
the Obligations from the Security Deposit in accordance with the provisions of the Hungarian
law. By blocking the Accounts by the Account Banks pursuant to Clause 3.3 above, the Account
Banks shall restrict the disposal right (in Hungarian “rendelkezési jog”) of the Depositor
over the Accounts. The Security Deposit shall cover any and all rights, title and interests in
and to, and the balance of Accounts, including accrued interest and any further amount (in
Hungarian “kamatai, hasznai, gyümölcse”) accrued, existing and recorded from time to time on
the Accounts and all amounts credited thereto at any particular time.
	 
	3.5	 	The Charge terminates if, after an Enforcement Event has occurred, the Collateral
Agent decides, in accordance with its right stipulated in the present Agreement, to declare
the perfection of the Security Deposit by the delivery of a Notice of Security Deposit to the
Account Banks.
	 
	4.	 	DISTINCT RIGHTS
	 
	 	 	The Hungarian Company and the Collateral Agent hereby confirm and agree that:
	 
	4.1	 	the Charge and the Security Deposit are separate and distinct rights granted or
created hereunder; and
	 
	4.2	 	the exercise of remedies under the Charge and the effectiveness of the Security
Deposit are mutually exclusive.
	 
	5.	 	NATURE OF THE SECURITY INTEREST
	 
	5.1	 	The Charge and the Security Deposit (together, the “Security Interest”) constituted by,
and pursuant to, this Agreement shall:

	 	5.1.1	 	be a continuing security for the payment, satisfaction and discharge in full
of the Obligations and shall not be considered as satisfied or discharged or prejudiced
by any intermediate payment, satisfaction or settlement of any part of the Obligations
unless and until discharged by the Chargee;
	 
	 	5.1.2	 	be in addition to and shall not operate so as in any way to prejudice or
affect or be prejudiced or affected by any security, encumbrance, guarantee,
suretyship, indemnity or other right or remedy which the Collateral Agent or any other
Secured Party (or any person on their behalf) may now or at any time hereafter hold for
or in respect of the Obligations or any part thereof; and

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	 	5.1.3	 	not be prejudiced by any time or indulgence granted to any person, or any
abstention or delay by the Collateral Agent or any other Secured Party (or any person
on their behalf) in perfecting or enforcing any security, encumbrance, guarantee,
suretyship, right or remedy that the Collateral Agent or any other Secured Party (or
any person on their behalf) may now or at any time hereafter have from or against the
Loan Parties.

	6.	 	CHARGOR’S RIGHTS
	 
	 	 	Notwithstanding any other provision of this Agreement, at all times unless an
Enforcement Event has occurred, the Hungarian Company is authorised by the Chargee to deal
with the Accounts and the Collateral in any manner and to exercise all of its rights under
and in respect of the Accounts and the Collateral (including 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.
	 
	7.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS
	 
	7.1	 	Representations and Warranties
	 
	 	 	In addition and without prejudice to those representations and warranties made by or in
respect of the Hungarian Company herein or in any other Principal Finance Document, the
Hungarian Company hereby represents and warrants that on the date of this Agreement with
reference to the facts and circumstances then existing, and subject to the provisions of the
Principal Finance Documents:

	 	(a)	 	it is the sole owner of the Accounts subject to any Liens permitted by the
Principal Finance Documents, and it has not sold, transferred, encumbered or otherwise
disposed of, nor has it agreed to sell, transfer, encumber or otherwise dispose of, any
or all of its rights in the Collateral to any third person, in each case other than as
permitted by the Principal Finance Documents or this Agreement; and
	 
	 	(b)	 	the representations and warranties made by the Hungarian Company as Loan Party
in Sections 3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability),
3.06 (No Material Adverse Change), 3.09 (Litigation, Compliance with Laws), 3.10
(Agreements), 3.19 (Security Documents) and 3.22 (Solvency) of the Credit Agreement are
true and accurate as regards the Hungarian Company and this Agreement;
	 
	 	(c)	 	it has not taken any action that would have an adverse effect on the validity
and enforceability of security constituted by this Agreement hereunder, other than as
permitted by the Principal Finance Documents; and
	 
	 	(d)	 	subject to any Liens permitted by the Principal Finance Documents and subject
to the Legal Reservations (as defined in the Credit Agreement), this Agreement
constitutes a first priority Charge and, subject to the Perfection of the Security
Deposit, a Security Deposit over the Accounts and the Collateral.

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	7.2	 	Covenants
	 
	 	 	In addition and without prejudice to those covenants, undertakings, commitments and
obligations made by or in respect of the Hungarian Company herein or in any other Loan
Documents, the Hungarian Company hereby covenants that, so long as this Agreement shall be
in force, it shall:

	 	(a)	 	unless otherwise permitted by the Principal Finance Documents, not give a
prompt collection right and not grant any Lien to any third party in respect of the
Accounts;
	 
	 	(b)	 	waive its right to deposit the Collateral with court (in Hungarian “bírói
letétbe helyezés”) in accordance with Section 268 (1) of the Civil Code;
	 
	 	(c)	 	not revoke the Authorisation to Act on a Prompt Collection Order or any other
notices sent or to be sent to the Account Banks pursuant to this Agreement;
	 
	 	(d)	 	not take or omit to take any action the taking or omission of which would
result in the alteration or impairment of any rights of the Collateral Agent under the
Security Interest which would have an adverse effect on the validity and enforceability
of the security hereunder except if such actions or omissions are permitted by the
Principal Finance Documents;
	 
	 	(e)	 	promptly notify the Collateral Agent of any event or circumstance of which the
Hungarian Company is aware which would (i) materially and adversely affect, alter or
impair the Collateral Agent’s rights relating to the validity and enforceability of the
Security Interest under or pursuant to this Agreement, (ii) materially and adversely
affect, alter or impair the Collateral Agent’s rights under or pursuant to this
Agreement in relation to the filing of a petition for the bankruptcy
(“csődeljárás”) or
insolvency (“felszámolási eljárás”) of the Hungarian Company, the initiation of an
execution in respect of the Accounts in accordance with the Court Enforcement Act or
similar laws applicable in other jurisdictions, the termination of the Hungarian
Company ‘s commercial activities or the winding up of the Hungarian Company (unless the
termination of the Hungarian Company’s commercial activities or the winding up of the
Hungarian Company is permitted by the Principal Finance Documents); and
	 
	 	(f)	 	unless otherwise permitted by the Principal Finance Documents and subject to
the Agreed Security Principles, ensure that the Security Interest, subject to any Lien
permitted by the Principal Finance Documents, is a first priority security interest
over the Collateral and the Accounts.

	8.	 	COLLATERAL AGENT’S RIGHTS
	 
	8.1	 	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

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	 	 	to the reasonableness or otherwise of such instructions shall be determined as between the
Applicable Representative and the Hungarian Company.

	8.2	 	The Hungarian Company 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 the protections, immunities,
rights, indemnities and benefits conferred on a collateral agent under the Principal Finance
Documents.
	 
	8.3	 	The powers conferred by this Agreement on the Collateral Agent in relation to the
Accounts and the Collateral shall be in addition to and not in substitution for the rights
conferred on the Collateral Agent by applicable law except insofar as they are excluded by
this Agreement and, where there is any ambiguity or conflict between the rights contained in
any such applicable law and those conferred by this Agreement, then the terms of this
Agreement shall prevail to the extent permitted by such law.
	 
	8.4	 	The Collateral Agent will be entitled, subject to the Agreed Security Principles, the
terms of the Principal Finance Documents and this Agreement and the reasonable instructions of
the Applicable Representative, at any time to take any such action permitted under the
relevant laws as it in their/its discretion thinks fit for the purpose of protecting the
Security Interest constituted by this Agreement.
	 
	8.5	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement, the Collateral
Agent may, at any time and from time to time, delegate by power of attorney to any person all
or any of the rights conferred on it by this Agreement which are for the time being
exercisable by the Collateral Agent hereunder in relation to the Accounts and the Collateral
or any part thereof and the Collateral Agent shall inform the Hungarian Company of such a
delegation or appointment of a delegate.
	 
	8.6	 	The Collateral Agent does not need, before it exercises any of the rights conferred
upon it by this Agreement or by law, to (i) initiate proceedings or obtain a judgement against
the Hungarian Company or any other person in any court; (ii) make or file a claim in a
bankruptcy or liquidation with respect to the Hungarian Company or any other person; or (iii)
enforce any of its rights in respect of any part of the Obligations, except as expressly
required by Hungarian law from time to time.
	 
	9.	 	GENERAL PROVISIONS
	 
	9.1	 	Separate Agreements
	 
	 	 	This Agreement shall be construed so as to constitute a separate security agreement between
the Collateral Agent on the one hand and the Hungarian Company on the other hand and if such
separate agreement between the Hungarian Company and the Collateral Agent becomes invalid or
unenforceable, is terminated, rescinded, released, void, voidable, amended, restated,
renewed, novated, supplemented or otherwise affected, the obligations of the Hungarian
Company are satisfied or any of the rights of Collateral Agent created thereby is
ineffective, the foregoing shall, to the fullest extent permitted by

- 12-

 

	 	 	law, not affect the validity or enforceability of any of the other agreements between the
Hungarian Company on the one hand and the Collateral Agent on the other hand.

	9.2	 	Immediate Recourse
	 
	 	 	To the fullest extent allowed by applicable law the Hungarian Company waives any right it
may have of first requiring the Collateral Agent to proceed against or claim payment from
any other person or entity or enforce any guarantee, suretyship or security granted by any
other person or entity with respect to the Obligations before enforcing this Agreement
and/or its rights hereunder or pursuant hereto.
	 
	9.3	 	Certificates

	 	(a)	 	A certificate (including but not limited to the Declaration) signed by any
duly authorised officer of the Chargee setting forth any amount due to the Secured
Parties from either of the Hungarian Company and/or the Loan Parties in respect of any
part of the Obligations as well as the occurrence of an Event of Default which is
continuing shall be prima facie evidence of such amount against the Loan Parties and
the Hungarian Company except in case of manifest error or fraud on the part of the
Chargee.
	 
	 	(b)	 	The Hungarian Company hereby acknowledges that after the occurrence of an
Event of Default which is continuing the Chargee shall be entitled to incorporate such
certificate, setting out the outstanding amount of all or any part of the Obligations
in a notarial certificate (in Hungarian: “ténytanúsítvány”/“ténytanúsító okirat”), the
costs of which are to be borne in accordance with the Principal Finance Documents. The
Hungarian Company accepts any notarial certificate issued according to this Clause as
prima facie evidence except in case of manifest error or fraud on the part of the
Chargee.

	9.4	 	Discharge
	 
	 	 	Where any discharge (whether in respect of this Agreement, or other Security Document for
the Obligations or otherwise) is made in whole or in part or any arrangement is made on the
faith of any payment, security or other disposition which is subsequently avoided or must be
restored on bankruptcy (csődeljárás), insolvency (felszámolási eljárás) or otherwise without
limitation, the liability of the Hungarian Company under this Agreement and the rights of
the Collateral Agent created hereby and pursuant hereto shall continue as if there had been
no discharge or arrangement. The Collateral Agent shall be under no obligation to challenge,
contest or otherwise take any steps to remedy any avoidance of any payment, security or
other disposition or the restoration thereof by any liquidator, receiver or similar officer
on bankruptcy, insolvency or otherwise.
	 
	10.	 	REMEDIES AND WAIVERS
	 
	 	 	No failure on the part of the Collateral Agent to exercise, and no delay on its part in
exercising, any right or remedy under this Agreement will operate as a waiver thereof, nor
will any single or partial exercise of any right or remedy preclude any other or further
exercise thereof or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or

- 13-

 

	 	 	remedies provided by applicable law, the Credit Agreement or any other Loan Documents.

	11.	 	SEVERABILITY
	 
	 	 	If any of the terms hereof is or becomes invalid or unenforceable (or the security
purported to be created hereunder or pursuant hereto are ineffective) for any reason under
the laws of any jurisdiction or in relation to the Hungarian Company, such invalidity or
unenforceability shall, to the fullest extent possible under applicable law, not affect its
validity or enforceability in any other jurisdiction or invalidate or make unenforceable any
other term hereof. The Parties hereto agree that they will negotiate in good faith to
replace any provision hereof held invalid, illegal or unenforceable with a valid, legal and
enforceable provision which is as similar as possible in substance to the invalid, illegal
or unenforceable provision.
	 
	12.	 	ATTORNEY
	 
	 	 	To the fullest extent permitted by applicable law, the Hungarian Company hereby
appoints the Chargee, such appointment being made for the benefit of the Chargee and the
other Secured Parties represented by the Chargee and shall be effective if an Enforcement
Event has occurred to be its true and lawful attorney (with full power of substitution and
delegation) for and on behalf of the Hungarian Company and in its name or in the name of the
Chargee and as the Hungarian Company’s attorney in act and deed to sign, execute, seal,
deliver, acknowledge, file, register and perfect any and all such assurances, documents,
instruments, agreements (including any agreements to which the Chargee itself is a party)
certificates and consents and to do any and all such acts and things as the Hungarian
Company itself could do in relation to the Charged Assets or in relation to any matters
dealt with in this Agreement and which the Chargee may, (upon the reasonable instruction of
the Applicable Representative), deem to be necessary in order to give full effect to the
purposes of this Agreement. The Hungarian Company will ratify and confirm whatever the
Chargee shall do or cause to be done in pursuance of the powers conferred to it hereunder.
For the avoidance of any doubt, this Clause constitutes the express consent of the Hungarian
Company to the appointment of the Collateral Agent as its representative for the purposes of
Article 221 (3) of the Civil Code except that the Collateral Agent shall not be entitled to
conclude or amend any agreement between the Hungarian Company and any of the Secured Parties
or to waive any rights of the Hungarian Company against any of the Secured Parties.
	 
	13.	 	TERMINATION
	 
	13.1	 	The security constituted by this Agreement shall be released, re-assigned,
re-transferred and cancelled (as applicable):

	 	(a)	 	by the Collateral Agent at the request and cost of the Hungarian Company, upon
the 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 Hungarian Company or any other person
under any of the Loan Documents; or

- 14-

 

	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor
Arrangements.

	13.2	 	Upon termination of this Agreement and subject to Clause 13.1, the Collateral Agent
shall promptly (but in any event within fifteen (15) days), at the cost of the Hungarian
Company, issue all certificates or other documents and sign all other documents and do all
such acts as are required by law or requested by the Hungarian Company in order that this
Agreement will be terminated.
	 
	13.3	 	If the Chargor disposes of or closes any of the Accounts and that disposal or
closing is permitted by the Principal Finance Documents, that Account shall (to the extent
necessary), unless an Enforcement Event has occurred, be: (a) automatically released,
re-assigned, re-transferred and cancelled (as applicable) from the Charge constituted by this
Agreement with effect from the day of such disposal or closing or (b) released, re-assigned,
re-transferred and cancelled (as applicable) in accordance with and to the extent required by,
the Intercreditor Arrangements.
	 
	13.4	 	Upon the Chargor disposing or closing of any of the Accounts (which disposal or
closing is permitted by the Principal Finance Documents), the Chargee shall promptly (but in
any event within fifteen (15) days) at the cost of the Chargor, issue all certificates or
other documents and sign all other documents and do all such acts as are required by law or
requested by the Chargor in order to release the relevant Accounts from the Charge constituted
by this Agreement.
	 
	14.	 	POWER TO ASSIGN
	 
	 	 	To the fullest extent permitted under the laws of Hungary and subject to the terms of
the Loan Documents, only the Collateral Agent (but not, for the avoidance of doubt, the
Hungarian Company, unless otherwise permitted by the Principal Finance Documents) shall be
entitled to assign and/or transfer all or part of its rights and obligations under this
Agreement to a replacement Collateral Agent appointed in accordance with the Principal
Finance Documents and the Hungarian Company hereby in advance gives its irrevocable consent
to, within the meaning of Sections 328-331 of the Civil Code, and hereby in advance
irrevocably co-operates with any such assignment and/or transfer (as the case may be)
hereunder.
	 
	15.	 	NOTICES
	 
	 	 	Each notice or other communication to be given or made by a Party under this Agreement
shall be given or made in accordance with the First Lien Intercreditor Agreement.
	 
	16.	 	GOVERNING LAW
	 
	 	 	This Agreement and all non-contractual obligations arising from or connected with it
are governed by, and construed in accordance with, Hungarian law.
	 
	17.	 	JURISDICTION
	 
	 	 	The Parties agree that any dispute arising out of or in connection with this Agreement
(including a dispute regarding the existence, validity or termination of this Agreement or

- 15-

 

	 	 	the consequences of its nullity) (“Dispute”) shall be referred to a Hungarian court in
accordance with the provisions of Act III of 1952 on the code of civil procedure.

	18.	 	LANGUAGE
	 
	 	 	This Agreement shall be executed in English language only. This Agreement may be
translated into Hungarian but in the event of any ambiguity or conflict between the two
versions, the English version shall prevail to the extent permitted by law.
	 
	19.	 	AMENDMENTS
	 
	19.1	 	This Agreement may be amended only by a written instrument executed by the Parties in
the form of a notarial deed.
	 
	19.2	 	With consideration to the forthcoming potential enactment of a new Hungarian civil
code, the Hungarian Company hereby undertakes that, subject to the Agreed Security Principles,
upon the request of the Collateral Agent:

	 	19.2.1	 	it shall agree to an amendment and restatement of this Agreement following
the entry into force of such a new civil code, in order to reflect the provisions
thereof, to the extent such amendment is necessary to preserve the Charge or to clarify
the security position of the Collateral Agent; and
	 
	 	19.2.2	 	it shall enter into good faith negotiations on the amendment and restatement
terms of this Agreement, in order to reflect the provisions of the new civil code,
other than those which are referred to in Clause 19.2.1 above.

I, the undersigned, Notary substitute having verified the identity, authorisation and contractual
intentions of the Parties and their representatives to enter into this deed, have prepared the
present deed on the basis of the written draft put at my disposal. I have informed the legal
representatives of the parties of the substance of the transaction contemplated hereby and of its
legal consequences. The legal representatives of the parties declared before me that they are fully
aware of the content of the present deed’s draft and confirmed that the content of the present deed
is in full compliance with the contractual intentions of the Parties represented by them and
therefore they requested me not to read the deed out in their presence. Now therefore, the Parties
have executed this deed in my presence through the signatures of their duly authorised legal
representatives.

Executed at the City of Budapest, on the 29th (twentyninth) day of January 2010 (Two
Thousand Ten).

Dr. Horvai-Hillenbrand
Péter s.m. CSI Hungary Gyártó és Kereskedelmi
Korlátolt Felelőssűgű
Társaság, Dr. Pelikán Melinda s.m. Wilmington Trust (London) Limited, Dr. Vető Péter s.m. Notary
Substitute, Countersigned: Dr. Stagel Judit s.m. Notary, as permanent substitute for Dr. Bókai
Judit Notary

- 16-

 

SCHEDULE 1

ACCOUNTS 

	 	 	 	 	 
	No.	 	Account Bank	 	Account
	 
	 	 	 	 
	1.

	 	Name: Citibank
	 	Currency: HUF

Account Number: [                 ]

	 

	 	Seat: Budapest
	 	IBAN: HU40 [                        ]

SWIFT: CITIHUHX
	2.

	 	Name: Citibank
	 	Currency: EUR

Account Number: [                 ]

	 

	 	Seat: Budapest
	 	IBAN: HU08 [                        ]

SWIFT: CITIHUHX
	3.

	 	Name: Citibank
	 	Currency: HUF

Account Number: [                 ]

	 

	 	Seat: Budapest
	 	IBAN: HU18 [                        ]

SWIFT: CITIHUHX
	4.

	 	Name: Citibank
	 	Currency: HUF

Account Number: [                 ]

	 

	 	Seat: Budapest
	 	IBAN: HU28 [                        ]

SWIFT: CITIHUHX

- 17-

 

SCHEDULE 2

FORM OF NOTICE OF CHARGE OVER BANK ACCOUNTS

	 	 	 
	 	 	BANKSZÁMLA-KőVETELÉSEN
	NOTICE OF CHARGE OVER BANK	 	ALAPÍTOTT ZÁLOGJOGRÓL SZÓLÓ
	ACCOUNTS	 	ÉRTESÍTÉS
	 
	 	 
	To: [Account Bank] (address:[*]) as Account Bank (hereinafter: the “Account
Bank”)

	 	Címzett:
[Számlavezető Bank]
(székhely:[*]) mint számlavezető bank
(továbbiakban: a “Számlavezető Bank”)
	 
	 	 
	Subject: Notice on charge

	 	Tárgy: Értesítés zálogjog alapításról
	 
	 	 
	Dated: Budapest, ___________

	 	Kelt: Budapest, ______________________
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	With reference to the Charge and Security Deposit over Bank Accounts Agreement
dated ______ 2010 (hereinafter: the “Agreement”), entered
into between us, the
[*] (registered seat: [*], Hungary; Company registration number: [*]) as chargor
(hereinafter: the “Chargor”), and [*], (registered seat: [*], registration
number [*]) as chargee and Collateral Agent (hereinafter, with its successors,
permitted transferees and permitted assigns in such capacity, the “Collateral
Agent ”), we hereby give notice that we have established a charge in favour of
the Collateral Agent over the bank account No.:
________(hereinafter: the “Bank Account”).

	 	Hivatkozással a 2010. _______-án kelt
Bankszámla-követelésen Alapított
Zálog és Óvadéki Szerződésre
(továbbiakban: a “Szerződés”), amely
köztünk, az [*] (székhely: [*],
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
“Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként, átruházottjaként és
engedményesként eljáró valamennyi
személyt is ideértve: a “Biztosítéki
Megbízott”) között jött létre, ezúton
értesítjük Önöket, hogy cégünk a
Biztosítéki Megbízott javára
zálogjogot alapított a [*] számú
bankszámlánk (továbbiakban: a
“Bankszámla”) felett.
	 
	 	 
	Therefore, we request you to kindly acknowledge and register the charge over the
Bank Account, as follows:

	 	Ebből fakadóan kérjük, hogy ismerjék
el és vegyék nyilvántartásba a
Bankszámlán alapított zálogjogot; az
alábbiakban leírtak figyelembe
vételével:
	 
	 	 
	1.   The right of the Chargor to deal with the Bank Account and amounts in
respect of the Bank Account in any manner and to exercise all of its
rights under and in respect of the Bank Account (including the disposal or
closing thereof) shall remain unrestricted until the receipt of a notice
of an Enforcement Event (as defined in

	 	1.   A Zálogkötelezett joga, hogy
rendelkezzen a Bankszámlával és a
Bankszámlához kapcsolódó bármilyen
összeggel minden tekintetben
korlátlan, valamint jogosult
gyakorolni valamennyi Bankszámlához
kapcsolódó jogát (beleértve a
rendelkezési jogot és a Bankszámla
bezárását is) a

-18-

 

	 	 	 
	      the Agreement) which is continuing
(hereinafter: “Notice of Enforcement Event”) by the Account Bank, sent in
accordance with the terms of the Agreement to the address of the Account
Bank, and made substantially in the form and substance attached hereto
(hereinafter: “Form of Notice of Enforcement Event”).

	 	      Végrehajtási
Eseményről (a Szerződés szerint
meghatározott, angolul: “Enforcement
Event”) szóló, a jelen Értesítéshez
csatolt mintával (továbbiakban: a
“Végrehajtási Eseményről szóló
Értesítés Mintája”) lényegében
megegyező formában és tartalommal
kiállított, Szerződés rendelkezései
szerint a Számlavezető Bank címére
megküldött értesítés (továbbiakban: a
“Végrehajtási Eseményről szóló
Értesítés”) Számlavezető Bank által
történő kézhezvételéig.

	 
	 	 
	2.   The Collateral Agent upon the delivery of the Notice of Enforcement
Event to the Account Bank is entitled to seek satisfaction from the charge
in accordance with the applicable Hungarian legal norms. Particularly (but
not exclusively), the Collateral Agent will be entitled to enforce any
claim which is already due and arising from any of the claims of the
Secured Parties (as defined in the Agreement), by submitting prompt
collection orders on the basis of the Authorisation to Act on a Prompt
Collection Order (as defined in the Agreement) delivered together with the
present Notice. The Collateral Agent will be entitled to enforce its claim
only once the Account Bank has received the Notice of Enforcement Event
made by the Collateral Agent. We hereby accept your priority right of
satisfaction over the Bank Account vis-à-vis to the charge established in
our favour and our prompt collection rights concerning your matured claims
deriving from your banking services rendered.

	 	2.   A Biztosítéki Megbízott
Végrehajtási Esemény bekövetkezésének
a Számlavezető Banknál történt
bejelentése után a hatályos magyar
jogszabályoknak megfelelően jogosult
a zálogjogból kielégítést keresni.
Így különösen, de nem kizárólag a
Biztosítéki Megbízott a jelen
Értesítéssel egyidejűleg megküldött
Felhatalmazó Levél (a Szerződés
szerint meghatározott, angolul: “Authorisation to Act on a Prompt
Collection Order”) alapján azonnali
beszedés útján is végrehajthatja a
Biztosított Felek (a Szerződés
szerint meghatározott, angolul:“Secured Parties”) bármely igényéből
eredő bármely esedékessé vált
követelést, de csak azt követően,
hogy a Számlavezető Bank megkapta a
Biztosítéki Megbízottnak a
Végrehajtási Eseményről szóló
Értesítését. Az Önök Bankszámlára
vonatkozó kielégítési elsőbbségét
elfogadjuk a jelzálogjogunkkal és az
azonnali beszedési megbízás
benyújtására vonatkozó jogunkkal
szemben, az Önök
bankszolgáltatásaiból eredő

-19-

 

	 	 	 
	 

	 	esedékes
követeléseik tekintetében.

	 
	 	 
	3.   The charge over the Bank Account terminates if, while an Enforcement
Event has occurred under the Agreement, the Collateral Agent elects, in
accordance with its right stipulated in the Agreement, to declare the
Perfection of Security Deposit (as defined in the Agreement) over the Bank
Account by delivering a notice to the Account Bank, (hereinafter: “Notice
of Security Deposit”) incorporated in a notarial deed in Hungary and made
in the form and substance attached hereto (hereinafter: “Form of Notice of
Security Deposit”).

	 	3.   A Bankszámlán fennálló zálogjog
megszűnik, amennyiben a Szerződés
szerinti Végrehajtási Esemény
bekövetkezése esetén a Biztosítéki
Megbízott él a Szerződésben
biztosított jogával, és a jelen
Értesítéshez csatolt mintával
(továbbiakban: az “Óvadéki Értesítés
Mintája”) lényegében megegyező
formában és tartalommal kiállított,
Magyarországon közokiratba foglalt
értesítés (továbbiakban: az “Óvadéki
Értesítés”) Számlavezető Banknak
történő megküldésével bejelenti az
Óvadék Létrejöttét (a Szerződés
szerint meghatározott, angolul:
“Perfection of the Security Deposit”)
a Bankszámla felett.

	 
	 	 
	4.   We hereby request, after the Account Bank has received a Form of Notice
of Enforcement Event or a Form of Notice of Security Deposit, the Account
Bank to disclose to the Collateral Agent any information on the Bank
Account upon its request. Further, we hereby authorise the Account Bank,
after the Account Bank has received a Form of Notice of Enforcement Event
or a Form of Notice of Security Deposit, to disclose to the Collateral
Agent any information on the Bank Account, which qualifies as bank secret
on the basis of Act CXII of 1996 on Credit Institutions and Financial
Enterprises.

	 	4.   Felhívjuk a Számlavezető Bankot,
azt követően, hogy a Végrehajtási
Eseményről szóló Értesítést vagy az
Óvadéki Értesítést átvette, a
Bankszámlára vonatkozó bármely
információt, a Biztosítéki Megbízott
kérésére bocsássa annak
rendelkezésére, és felhatalmazzuk a
Számlavezető Bankot a
Hitelintézetekről és a Pénzügyi
Vállalkozásokról szóló 1996. évi
CXII. törvény alapján banktitoknak
minősülő, a Bankszámlára vonatkozó
bármely információnak a Biztosítéki
Megbízott részére történő
kiszolgáltatására.

	 
	 	 
	We request you to kindly acknowledge the receipt of the present Notice by
countersigning and returning to us the Acknowledgment attached
hereto.
	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés
mellékletét képező Elismervény
aláírásával és részünkre
visszaküldésével ismerjék el. való
visszaküldésével ismerjék el.

-20-

 

	 	 	 
	In case of any discrepancies in the interpretation of the English and the
Hungarian version of this document, the English version shall prevail.

	 	Jelen okirat angol és magyar
nyelvű
változatának eltérő értelmezése
esetén az angol nyelvű szöveg az
irányadó.

 

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS
(HUNGARY) VAGYONKEZELŐ

KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG

Acting as a Chargor/ mint Zálogkötelezett

	 	 	 
	Schedules:

	 	Mellékletek:
	 
	 	 
	•    Form of Notice of Enforcement
Event

	 	•   
Végrehajtási Eseményről szóló
Értesítés Mintája

	 
	 	 
	•    Form of Notice of Security
Deposit

	 	•   
Óvadéki Értesítés Mintája

	 
	 	 
	•    Acknowledgement

	 	•   
Elismervény

-21-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	To:   Wilmington Trust (London)
Limited (registered seat: [*],
registration number [*]) as Chargee
or Collateral Agent (hereinafter:
“Collateral Agent”)

	 	Címzett:   Wilmington Trust (London) Limited
(székhely: [*], cégjegyzékszáma [*]) mint
zálogjogosult és Biztosítéki Megbízott
(továbbiakban: a “Biztosítéki
Megbízott”)

	 
	 	 
	[*]
(registered seat:
[*], Hungary;
Company registration
number: Cg.
[*]) as
Chargor (hereinafter: “Chargor”)

	 	[*] (székhely: [*],
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
“Zálogkötelezett”)
	
	 	 

	 	 	 

	Dated: Budapest, _______________________

	 	Kelt: Budapest, _______________________

	 	 	 

	The undersigned, on behalf of [*]
(hereinafter: “Bank”), with
reference to the Notice of Charge
and Security Deposit over Bank
Accounts Agreement dated [*] 2010
and delivered to us, we inform you
that the Bank acknowledges and
registers the Charge established
over the bank account number [*]
(hereinafter: “Bank Account”) held
by the Bank.

	 	Alulírottak, a [*] (továbbiakban: a ,,Bank”)
képviseletében, hivatkozással a 2010. [*]
napján kelt és részünkre megküldött
Bankszámla-követelésen Alapított Zálog és
Óvadéki Szerződésről szóló értesítésre
tájékoztatjuk, hogy Bankunk a nála vezetett
[*] számú bankszámlán (továbbiakban: a
“Bankszámla”) alapított zálogjogot
jóváhagyólag elismeri és nyilvántartásba
veszi.
	 
	 	 
	Yours sincerely,

	 	Tisztelettel:

 

Name/ Név:

Title/ Beosztás:

[ACCOUNT BANK/ SZÁMLAVEZETÕ BANK]

as Account Bank/ mint Számlavezető Bank

-22-

 

FORM OF NOTICE OF ENFORCEMENT EVENT

	 	 	 
	NOTICE OF ENFORCEMENT EVENT	 	VÉGREHAJTÁSI
ESEMÉNYRŐL

SZÓLÓ ÉRTESÍTÉS
	 
	 	 
	To:   [Account Bank] (address:[*]) as Account
Bank (hereinafter: the “Account Bank”)

	 	Címzett: [Számlavezető Bank]
(székhely:[*]) mint
számlavezető bank
(továbbiakban: a
“Számlavezető Bank”)

	 
	 	 
	Subject: Notice of an Enforcement Event

	 	Tárgy: Értesítés
Végrehajtási Esemény
bekövetkezéséről
	 
	 	 
	Dated: Budapest,
________________
	 	Kelt: Budapest, ________________________
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	We hereby refer to

	 	Hivatkozunk
	 
	 	 
	i.    the Charge and Security Deposit over
Bank Accounts Agreement dated __
2010 (hereinafter: the “Agreement”),
entered into between the [*] (registered
seat: [*], Hungary; Company registration
number: [*]) as chargor (hereinafter: the
“Chargor”), and [*], (registered seat:
[*], registration number [*]) as chargee
and Collateral Agent (hereinafter together
its successors and permitted assigns in
such capacity: the “Collateral
Agent”) over the bank account
No.: [*] (hereinafter: the “Bank
Account”); and

	 	i.    a 2010. _______-án kelt
Bankszámla-követelésen
Alapított Zálog és Óvadéki
Szerződésre (továbbiakban: a
“Szerződés”), amely az [*]
(székhely: [*],
Magyarország,
cégjegyzékszám: [*]) mint
zálogkötelezett
(továbbiakban: a
“Zálogkötelezett”), és az
[*] (székhely: [*],
cégjegyzékszáma [*]) mint
zálogjogosult és Biztosítéki
Megbízott (továbbiakban,
annak jogutódjaként eljáró
valamely személyt is
ideértve: a “Biztosítéki
Megbízott”) között jött
létre, a [*] számú
bankszámlánk (továbbiakban: a “Bankszámla”) felett;
továbbá

	 
	 	 
	ii.    the Notice of Charge over Bank
Accounts, dated [*], and delivered to you
by the Chargor.

	 	ii.    a [*]-én kelt, és
Önöknek a Zálogkötelezett
által megküldött
Bankszámla-követelésen
Alapított Zálogjogról szóló
Értesítésre.

	 
	 	 
	We hereby inform you that an Enforcement
Event has occurred and is continuing under
the Agreement, and as from today, the
Collateral Agent is entitled to seek
satisfaction from the Charge, in accordance
with the applicable Hungarian legal norms.
This instruction shall be valid until
withdrawn in a declaration of the
Collateral Agent, made in the form of a
notarial deed. The Collateral Agent in
particular (but not exclusively) is
entitled to

	 	Ezennel értesítjük Önöket a
Szerződés szerinti
Végrehajtási Esemény
bekövetkezéséről, valamint
arról, hogy a mai naptól a
Biztosítéki Megbízott a
hatályos magyar
jogszabályoknak megfelelően
jogosult a zálogjogból
kielégítést keresni,
mindaddig, amíg közokiratba
foglalt nyilatkozattal erről
le nem mond. Így különösen,
de nem kizárólag a
Biztosítéki Megbízott az
Önöknek a Zálogkötelezett
által megküldött
Felhatalmazó Levél (a Szerződés

-23-

 

	 	 	 
	enforce any claim which becomes
due and is arising from any of the claims
of the Secured Parties (as defined in the
Agreement), by submitting prompt collection
orders on the basis of the Authorisation to
Act on a Prompt Collection Order (as
defined in the Agreement) delivered to you
by the Chargor.

	 	szerint
meghatározott, angolul: “Authorisation to Act on a
Prompt Collection Order”) alapján azonnali beszedés
útján is végrehajthatja a Biztosított Felek (a Szerződés szerint
meghatározott, angolul: “Secured Parties”) bármely
igényéből eredő bármely esedékessé vált követelést.
	 
	 	 
	We hereby accept your priority right of
satisfaction over the Bank Account
vis-à-vis to the Charge established in our
favour and our prompt collection rights
concerning your matured claims deriving
from your banking services rendered.

	 	Az Önök Bankszámlára
vonatkozó kielégítési
elsőbbségét elfogadjuk a
jelzálogjogunkkal és az
azonnali beszedési megbízás
benyújtására vonatkozó
jogunkkal szemben, az Önök
bankszolgáltatásaiból eredő
esedékes követeléseik
tekintetében.
	 
	 	 
	We request you to kindly acknowledge the
receipt of the present Notice by
countersigning and returning to us one copy
thereof.

	 	Kérjük Önöket, hogy a jelen
Értesítés tudomásulvételét
jelen Értesítés egy
példányának aláírásával és
részünkre való
visszaküldésével ismerjék
el.
	 
	 	 
	We declare that the Agreement excluded any
depositing with court (Section 268 (1) of
the Civil Code).

	 	Kijelentjük, hogy a
Szerződés kizárta a bírói
letétbe helyezés lehetőségét
(Ptk. 268. § (1) bek.).
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar
nyelvű változatának eltérő
értelmezése esetén az angol
nyelvű szöveg az irányadó.

 

Name/ Név:

Title/ Beosztás:

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent/ mint Biztosítéki Megbízott

-24-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We hereby acknowledge and confirm
the above Notice of Enforcement
Event and undertake to perform the
obligations contained in the Notice
of Enforcement Event in accordance
with terms set out therein; until it
will be withdrawn by the Collateral
Agent in a declaration incorporated
in a notarial deed.

	 	Elismerjük és jóváhagyjuk a fenti
Végrehajtási Eseményről szóló
Értesítést, és vállaljuk, hogy
Végrehajtási Eseményről szóló
Értesítéssel összhangban teljesítjük
az abban foglalt kötelezettségeket,
mindaddig, amíg a Biztosítéki
Megbízott közokiratba foglalt
nyilatkozatával erről le nem mond.

Dated/ Kelt: Budapest, ________________________

_________________________________________

Name/ Név:

Title/ Beosztás:

[ACCOUNT BANK/ SZáMLAVEZETő BANK]

as Account Bank/ mint Számlavezető Bank

-25-

 

FORM OF NOTICE OF SECURITY DEPOSIT

	 	 	 
	NOTICE OF SECURITY DEPOSIT	 	ÓVADÉKI ÉRTESÍTÉS
	 
	 	 
	To:   [Account Bank] (address:[*]) as
Account Bank (hereinafter: the “Account
Bank”)

	 	Címzett:   [Számlavezető Bank]
(székhely:[*]) mint számlavezető bank
(továbbiakban: a “Számlavezető Bank”)

	 
	 	 
	Subject: Notice of Security Deposit

	 	Tárgy: Értesítés óvadékról
	 
	 	 
	Dated: Budapest,
                                        
                    

	 	Kelt: Budapest,
                                        
                    
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	We hereby refer to

	 	Hivatkozunk
	 
	 	 
	(ii)   the Charge and Security
Deposit over Bank Accounts Agreement
dated [*] 2010 (hereinafter: the
“Agreement”), entered into between the
[*] (registered seat: [*], Hungary;
Company registration number: [*]) as
chargor (hereinafter: the “Chargor”),
and [*], (registered seat: [*],
registration number [*]) as chargee and
Collateral Agent (hereinafter together
its successors and permitted assigns in
such capacity: the “Collateral Agent”)
over the bank account No.: [*]
(hereinafter: the “Bank Account”); and

	 	i.   a 2010. [*]-án kelt
Bankszámla-követelésen Alapított Zálog
és Óvadéki Szerződésre (továbbiakban: a
“Szerződés”), amely az [*]
(székhely: [*], Magyarország,
cégjegyzékszám: [*]) mint
zálogkötelezett (továbbiakban: a
“Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként eljáró valamely személyt
is ideértve: a “Biztosítéki Megbízott”)
között jött létre, a [*] számú
bankszámlánk (továbbiakban: a
“Bankszámla”) felett; továbbá

	 
	 	 
	(iii)   the Notice of Charge over
Bank Accounts, dated [*], and delivered
to you by the Chargor

	 	ii.   a [*]-én kelt, és Önöknek a
Zálogkötelezett által megküldött
Bankszámla-követelésen Alapított
Zálogjogról szóló
Értesítésre.

	 
	 	 
	We hereby inform you that an
Enforcement Event (as defined in the
Agreement) has occurred under the
Agreement, and that the Charge over the
Bank Account terminates as of today and
the provisions of the Agreement on the
Security Deposit shall apply, i.e. the
Security Deposit is created and
perfected over the balance of the Bank
Account available at the Chargor’s free
disposal as of the blocking of the Bank
Account (Perfection of the Security
Deposit).

	 	Ezennel értesítjük Önöket a Szerződés
szerinti Végrehajtási Esemény
bekövetkezéséről, valamint arról, hogy
a mai naptól a Bankszámlán fennálló
zálogjog megszűnik és a Szerződés
Óvadékról (a Szerződés szerint
meghatározott, angolul: “ Security
Deposit”) szóló rendelkezései
alkalmazandóak, azaz a Bankszámlának a
Zálogkötelezett szabad rendelkezése
alatt álló egyenlege felett, annak
zárolásával Óvadék jön létre (a
Szerződés szerint meghatározott,
angolul: “Perfection of the Security
Deposit”).
	 
	 	 
	We hereby request you to block the
entire balance (available at the
Chargor’s free disposal) as of today
and the entire future balance of the

	 	Ezúton kérjük Önöket, hogy ellenkező
tartalmú, a Zálogkötelezettel közös
rendelkezésünkig zárolják a Bankszámla
mai napon (a

-26-

 

	 	 	 
	 	 	 
	Bank Account as a Security Deposit for
the benefit of the Collateral Agent.
This instruction shall be valid until
withdrawn in a joint declaration of the
Collateral Agent and the Chargor.

	 	Zálogkötelezett szabad rendelkezése alatt) fennálló és a
jövőben beérkező teljes pozitív
egyenlegét mint Óvadékot a Biztosítéki
Megbízott javára.
	 
	 	 
	We hereby accept your priority right of
satisfaction over the Bank Account
vis-à-vis to the security deposit
established in our favour and our
prompt collection rights concerning
your matured claims deriving from your
banking services rendered

	 	Az Önök Bankszámlára vonatkozó
kielégítési elsőbbségét elfogadjuk az
óvadéki jogunkkal és az azonnali
beszedési megbízás benyújtására
vonatkozó jogunkkal szemben, az Önök
bankszolgáltatásaiból eredő esedékes
követeléseik tekintetében.
	 
	 	 
	The Collateral Agent is entitled to
seek satisfaction from the Security
Deposit, in accordance with the
applicable Hungarian laws. The
Collateral Agent in particular (but not
exclusively) is entitled to enforce any
claim, which becomes due and is arising
from any of the claims of the Secured
Parties (as defined in the Agreement),
by submitting prompt collection orders
on the basis of the Authorisation to
Act on a Prompt Collection Order (as
defined in the Agreement) delivered to
you by the Chargor.

	 	A Biztosítéki Megbízott a hatályos
magyar jogszabályoknak megfelelően
jogosult az Óvadékból kielégítést
keresni. Így különösen, de nem
kizárólag a Biztosítéki Megbízott az
Önöknek a Zálogkötelezett által
megküldött Felhatalmazó Levél (a
Szerződés szerint meghatározott,
angolul: “Authorisation to Act on a
Prompt Collection Order”) alapján
azonnali beszedés útján is
végrehajthatja a Biztosított Felek (a
Szerződés szerint meghatározott,
angolul: “Secured Parties”) bármely
igényéből eredő bármely esedékessé vált
követelést.
	 
	 	 
	We hereby request the Account Bank to
disclose to the Collateral Agent any
information on the Bank Account upon
its request. Further, we hereby
authorise the Account Bank to disclose
to the Collateral Agent any information
on the Bank Account, which qualifies as
bank secret on the basis of Act CXII of
1996 on the Credit Institutions and the
Financial Enterprises.

	 	Felhívjuk a Számlavezető Bankot, hogy a
Bankszámlára vonatkozó bármely
információt a Biztosítéki Megbízott
kérésére bocsássa annak rendelkezésére,
és felhatalmazzuk a Számlavezető Bankot
a Hitelintézetekről és a Pénzügyi
Vállalkozásokról szóló 1996. évi CXII.
törvény alapján banktitoknak minősülő a
Bankszámlára vonatkozó bármely
információnak Biztosítéki Megbízott
részére történő kiszolgáltatására.
	 
	 	 
	We request you to kindly acknowledge
the receipt of the present Notice by
countersigning and returning to us one
copy thereof.

	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés egy
példányának aláírásával és részünkre
való visszaküldésével ismerjék el.
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése esetén
az angol nyelvű szöveg az irányadó.

-27-

 

 

Name/ Név:

Title/ Beosztás:

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent/ mint Biztosítéki Megbízott

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We hereby acknowledge and approve
all the rights and authorisations
granted to the Collateral Agent
under this Notice of Security Deposit:

	 	Elismerjük és jóváhagyjuk a fenti Óvadéki Értesítés alapján a
Biztosítéki Megbízottat megillető
valamennyi jogosultságot és
felhatalmazást:

 

Name/ Név:

Title/ Beosztás:

CSI HUNGARY GYÁRTŐ ÉS KERESKEDELMI KORLÁTOLT FELELŐSSÉGŰ

TÁRSASÁG

as Chargor / mint Zálogkötelezett

-28-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We hereby acknowledge and
approve the above Notice of Security Deposit and
undertake to perform the obligations set out therein, in particular the followings:

	 	Elismerjük és jóváhagyjuk a fenti Óvadéki
Értesítést, és vállaljuk, hogy az Óvadéki
Értesítéssel összhangban teljesítjük az abban
foglalt kötelezettségeket, így különösen a
következőket :
	 
	 	 
	•   we acknowledge the
termination of the Charge;
and

	 	•    tudomásul
vesszük a zálogjog megszűnését; és

	 
	 	 
	•    undertake to block the
entire balance available
at the Chargor’s free
disposal as of today and
the entire future balance
of the Bank Account as a
security deposit for the
benefit of the Collateral
Agent; until the
instruction is withdrawn
in a joint declaration of
the Chargor and the
Collateral Agent, made in
the form of a notarial
deed.

	 	•    vállaljuk, hogy a Bankszámlának a
Zálogkötelezett szabad rendelkezése alatt
álló teljes jelenlegi és jövőben beérkező
pozitív egyenlegét óvadékként zároljuk a
Biztosítéki Megbízott javára, a
Zálogkötelezett és a Biztosítéki Megbízott
ellenkező tartalmú, közokiratba foglalt közös
rendelkezéséig.

	 
	 	 
	The Bank shall be entitled
to satisfy any of its
matured claims from the
Security Deposit deriving
from its banking services
rendered.

	 	A Banknak a bankszolgáltatásokból eredő
esedékes követelései a Bank által az óvadék
terhére kielégíthetők.
	 
	 	 
	In case of any
discrepancies in the
interpretation of the
English and the Hungarian
version of this document,
the English version shall
prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése esetén az
angol nyelvű szöveg az irányadó.

Dated/ Kelt: Budapest, ________________________

______________________________________________

Name/ Név:

Title/ Beosztás:

[ACCOUNT BANK/ SZÁMLAVEZETŐ BANK]

as Account Bank/ mint Számlavezető Bank

-29-

 

SCHEDULE 3

FORM OF AUTHORISATION TO ACT ON A

PROMPT COLLECTION ORDER

	 	 	 
	 	 	FELHATALMAZÓ LEVÉL AZONNALI
	AUTHORISATION	 	BESZEDÉSI MEGBÍZÁSRA
	 
	 	 
	To [Account Bank] (address:[*]) as Account
Bank (hereinafter: the “Account Bank”) to
enforce payment instructions for prompt
collection.

	 	A [Számlavezető Bank]-nak
(székhely:[*]) mint számlavezető
banknak (továbbiakban: a
“Számlavezető Bank”), hogy azonnali
beszedési megbízásokat hajtson végre,
az alábbiak szerint:
	 
	 	 
	1.   We hereby refer to the Charge and Security
Deposit over Bank Accounts Agreement dated [*]
2010 (hereinafter: the “Agreement”), entered
into between us, the [*] (registered seat: [*];
Company registration number: [*]) as chargor
(hereinafter: the “Chargor”), and [*],
(registered seat: [*], registration number [*])
as chargee and Collateral Agent (hereinafter
together its successors and permitted assigns
in such capacity: the “Collateral Agent ”) over
the bank account No.: [*] (hereinafter: the
“Bank Account”).

	 	1.   Hivatkozunk a 2010. [*]-án kelt
Bankszámla-követelésen Alapított
Zálog és Óvadéki Szerződésre
(továbbiakban: a “Szerződés”), amely
köztünk, az [*] (székhely: [*]
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
“Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként eljáró valamely
személyt is ideértve: a “Biztosítéki
Megbízott”) között jött létre, a [*]
számú bankszámlánk (továbbiakban: a
“Bankszámla”) felett.

	 
	 	 
	2.   In accordance with the applicable Hungarian
laws, the Chargor — by executing of the
present declaration — hereby authorises the
Bank to enforce by prompt collection any of the
claims of the Secured Parties (as defined in
the Agreement) which becomes due, (i) upon the
receipt by the Account Bank of a Notice of
Enforcement Event or a Notice of Security
Deposit sent by the Collateral Agent in
accordance with the terms of the Agreement; and
(ii) following the satisfaction of the
privileged prompt collection orders in

	 	2.    A Zálogkötelezett a hatályos
magyar jogszabályoknak megfelelően —
a jelen nyilatkozat aláírásával —
ezennel felhatalmazza a Bankot, hogy
azonnali beszedéssel végrehajtsa a
Biztosított Felek (a Szerződés
szerint meghatározott, angolul:
“Secured Parties”) bármely igényéből
eredő bármely esedékessé vált
követelést — azt követően, hogy a
Számlavezető Bank megkapta a
Biztosítéki Megbízottnak a Szerződés
rendelkezései szerint a Végrehajtási
Eseményről szóló Értesítését vagy az

-30-

 

	 	 	 
	 	 	 
	      accordance with the Hungarian law. Under the
present Authorisation a prompt collection order
could be submitted only if a Notice of
Enforcement Event or a Notice of Security
Deposit is attached thereto, after an
Enforcement Event (as defined in the Agreement)
has occurred. Attachment of one of the Notices
above (Notice of Enforcement Event or a Notice
of Security Deposit) excludes the attachment of
the other. In the event that no Notices are
attached, or both Notices are attached thereto,
the prompt collection order shall not be
performed on the basis of the present
Authorisation.

	 	      Óvadéki Értesítést a magyar jog
szabályaival összhangban. Jelen
Felhatalmazó Levél alapján kizárólag
abban az esetben nyújtható be
azonnali beszedési megbízás,
amennyiben a Végrehajtási Eseményről
szóló Értesítését vagy az Óvadéki
Értesítést csatolják hozzá egy
Végrehajtási Esemény (a
hitelszerződésben definiálva)
bekövetkezését követően. Bármelyik
fenti (Óvadéki vagy a Végrehajtási
Eseményről szóló) Értesítés csatolása
kizárja a másik Értesítés csatolását,
amennyiben Értesítés csatolásra nem
kerül, vagy mindkét Értesítést
csatolják, úgy a jelen Felhatalmazó
Levél alapján az azonnali beszedési
megbízás nem teljesíthető.

	 
	 	 
	3.   For the above purpose, we authorise the
Account Bank to debit — following the receipt
of a Notice of Enforcement Event or a Notice of
Security Deposit (in the form of a notarial
deed) by the Account Bank from the Collateral
Agent — our account No. [*], and credit to the
[*] of the Collateral Agent, at the time when
the prompt collection order is submitted by the
Collateral Agent.

	 	3.   A fentiek céljából felhatalmazzuk
a Számlavezető Bankot, hogy
megterhelje a [*] számú
bankszámlánkat — azt követően, hogy
a Számlavezető Bank megkapta a
Biztosítéki Megbízott Végrehajtási
Eseményről szóló Értesítését vagy az
Óvadéki Értesítést  — és ezt az
összeget jóváírja a Biztosítéki
Megbízott részére a [*] számú
számlája javára, abban az időpontban,
amikor a Biztosítéki Megbízott a
fizetendő összeg beszedésére azonnali
megbízást ad.

	 
	 	 
	4.   In accordance with section 8 of Decree No.
18/2009 (VIII. 6.) of the National Bank of
Hungary (hereinafter: the “NBH Decree”), we
authorise the Account Bank (i) to keep the
unperformed part of the payment instruction for
prompt collection pending until such payment
instruction shall have been fully performed —
but not longer than for 35 days — if it cannot
be performed due to lack of funds and inform
the Security Trustee accordingly; and (ii) to
the extent of the amount standing to our
credit, to make a partial

	 	4.   A Magyar Nemzeti Bank elnöke által
kibocsátott 18/2009 (VIII. 6.) számú
rendelet 8. §-ának megfelelően
(továbbiakban: “MNB rendelet”),
felhatalmazzuk a Számlavezető Bankot,
hogy (i) tartsa függőben az azonnali
beszedési megbízásra vonatkozó
fizetési felszólítás teljesítését a
még ki nem fizetett részre
vonatkozóan mindaddig, amíg az
azonnali beszedési megbízást teljes
egészében nem teljesítik — de nem
tovább, mint 35 napra — ha az
pénzügyi fedezet hiánya miatt nem teljesíthető,

-31-

 

	 	 	 
	 	 	 
	      payment on the basis
of the payment instruction for prompt
collection relating to insufficient funds.

	 	      és megfelelően
értesítse erről a Biztosítéki
Megbízottat; valamint (ii) a
fedezethiányos azonnali beszedési
megbízásra vonatkozó fizetési
felszólításra a rendelkezésre álló
fedezet erejéig részfizetést
teljesítsen.

	 
	 	 
	5.   This Authorisation is valid and remains in
full force until withdrawn by us in a statement
countersigned by the Collateral Agent.

	 	5.   Jelen Felhatalmazó Levél érvényes
és mindaddig hatályban marad, amíg
azt vissza nem vonjuk, egy, a
Biztosítéki Megbízott által is aláírt
nyilatkozatban.

	 
	 	 
	We request you to kindly acknowledge the
receipt of the present Notice by countersigning
and returning to us one copy thereof.

	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés egy
példányának aláírásával és részünkre
való visszaküldésével ismerjék el.
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the Hungarian
version of this document, the English version
shall prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése
esetén az angol nyelvű szöveg az
irányadó.

______________________________________________

Name/ név:

Title/ beosztás:

For and on behalf of

CSI HUNGARY GYÁRTÓ ÉS KERESKEDELMI KORLÁTOLT FELELŐSSÉGŰ

TÁRSASÁG

(acting as a Chargor) / (mint Zálogkötelezett) nevében

	 	 	 
	Schedules:	 	Melléklet:
	 
	 	 
	   •   Form of Notice of Enforcement
Event

	 	   •   Végrehajtási Eseményről szóló Értesítés Mintája
	 
	 	 
	   •   Form of Notice of Security Deposit

	 	   •   Óvadéki Értesítés Mintája

-32-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We acknowledge and approve the
content of the above
Authorisation and, in accordance
with the terms of the
Authorisation, we undertake to
perform the obligations contained

	 	Elismerjük és jóváhagyjuk a fenti
Felhatalmazó Levél tartalmát, és
vállaljuk, hogy a Felhatalmazó Levéllel
összhangban teljesítjük az abban
foglalt kötelezettségeket, különös
tekintettel a következőkre:
	therein, with special regard to
the followings:
	 	 
	 
	 	 
	•   if the prompt
collection order cannot be
performed due to lack of
funds, we will treat the
payment instruction for
prompt collection as a
pending instruction, but
only for a period of 35
days;

	 	•   ha az
azonnali beszedési
megbízást pénzügyi
forrás hiánya miatt
nem lehet
teljesíteni, az
azonnali beszedésre
vonatkozó fizetési
felszólítást
legfeljebb 35 napig
függőben tartjuk;

	 
	 	 
	•   we undertake to
execute the payment
instruction for prompt
collection in accordance
with terms of the
Authorisation to Act on a
Prompt Collection Order (as
defined in the Agreement),
until it is withdrawn by
the Chargor and the
Collateral Agent jointly.

	 	•   vállaljuk
az azonnali
beszedésre
vonatkozó megbízás
teljesítését a
Felhatalmazó
Levélnek
megfelelően
mindaddig, amíg a
Felhatalmazó
Levélet (a
Szerződés szerint
meghatározott,
angolul: “Authorisation to
Act on a Prompt
Collection Order”)
a Zálogkötelezett
és a Biztosítéki
Megbízott közösen
vissza nem vonja.

	 
	 	 
	In case of any discrepancies in
the interpretation of the English
and the Hungarian version of this
document, the English version
shall prevail.

	 	Jelen okirat angol
és magyar nyelvű
változatának eltérő
értelmezése esetén
az angol nyelvű
szöveg az irányadó.
	 
	 	 
	Budapest,
                                        
                    
	 	 

______________________________________________

Name:

Title:

[ACCOUNT BANK / SZÁMLAVEZETŐ BANK]

as Account Bank / mint Számlavezető Bank

-33-

 

SCHEDULE 4 Part I

Credit Agreement

(TO BE INSERTED)

-34-

 

Part II

Senior Secured Note Indenture

(TO BE INSERTED)

-35-

 

Part III

First Lien Intercreditor Agreement

(TO BE INSERTED)

[ADDITIONAL NOTARIAL CERTIFICATION INSERTED]

-36-exv4w144

	 	 	 

	 

	 	EXHIBIT 4.144

DATED 29 JANUARY 2010

CSI
HUNGARY GYÁRTÓ ÉS KERESKEDELMI KORLÁTOLT
FELELŐSSÉGŰ

TÁRSASÁG

IN FAVOUR OF

WILMINGTON TRUST (LONDON) LIMITED

AS THE COLLATERAL AGENT

 

SECURITY OVER CASH AGREEMENT

 

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

 

 

CONTENTS

	 	 	 	 	 	 	 	 	 
	Clause	 	 	 	 	Page	 
	 	 	 	 	 
	 	 	 	 
	 	1.	 	 	Definitions and interpretation
	 	 	1	 
	 	2.	 	 	Covenant to Pay
	 	 	4	 
	 	3.	 	 	Security over the Deposit
	 	 	5	 
	 	4.	 	 	Deliverables
	 	 	5	 
	 	5.	 	 	Further Advances
	 	 	5	 
	 	6.	 	 	Deposit
	 	 	5	 
	 	7.	 	 	Company’s Representations and Undertakings
	 	 	6	 
	 	8.	 	 	Further Assurance
	 	 	7	 
	 	9.	 	 	Power of Attorney
	 	 	8	 
	 	10.	 	 	Security Enforcement
	 	 	8	 
	 	11.	 	 	Receivers
	 	 	10	 
	 	12.	 	 	Effectiveness of Collateral
	 	 	12	 
	 	13.	 	 	Indemnity
	 	 	15	 
	 	14.	 	 	Application of Proceeds
	 	 	15	 
	 	15.	 	 	Other Security Interests
	 	 	16	 
	 	16.	 	 	Suspense Accounts
	 	 	16	 
	 	17.	 	 	Currency Indemnity
	 	 	16	 
	 	18.	 	 	Assignment
	 	 	17	 
	 	19.	 	 	Disclosure
	 	 	18	 
	 	20.	 	 	Collateral Agent Successors
	 	 	18	 
	 	21.	 	 	Waivers and Counterparts
	 	 	18	 
	 	22.	 	 	Law
	 	 	18	 
	 	23.	 	 	Enforcement
	 	 	18	 
	SCHEDULE 1 Form of Notice of Assignment	 	 	20	 

-i-

 

THIS AGREEMENT is made by way of deed on 29 January 2010

BETWEEN:

	(1)	 	CSI HUNGARY GYÁRTÓ ÉS KERESKEDELMI
KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG a limited liability
company (korlátolt felelősségű társaság) incorporated under the laws of Hungary, having its
registered seat (as at the date of this Agreement) at H-8000 Székesfehérvár, Berényi út
72-100., Hungary, registered with the Fejér County Court acting as court of registration under
registration number: Cg.07-09-013757, with tax identification number: 14122952-2-07 (the
“Company”); and
	 
	(2)	 	WILMINGTON TRUST (LONDON) LIMITED in its capacity as collateral agent as appointed
under the First Lien Intercreditor Agreement for the Secured Parties (the “Collateral Agent”).

RECITALS:

	(A).	 	 Further to the Credit Agreement (as defined below) certain lenders and financial
institutions have made available to the borrowers therein certain facilities (the
“Facilities”) on the terms set out in the Credit Agreement.
	 
	(B).	 	 Further to the Senior Secured Note Indenture (as defined below), the Issuers (as defined
below) have issued certain notes (the “Notes”).
	 
	(C). 	 	The Company intends to provide security in respect of the Facilities and the Notes.
	 
	(D).	 	 It is intended by the parties to this Agreement that this document will take effect as a deed
despite the fact that the Collateral Agent may only execute this Agreement under hand.
	 
	(E). 	 	The Collateral Agent is acting under and holds the benefit of the rights conferred upon it in
this Agreement on trust for the Secured Parties.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Account” means the Euro account with account number [________________]
 (IBAN [________________])
(and any renewal or redesignation or substitution of such account) maintained with the
Account Bank by the Company and any account opened or maintained by the Company in England
and Wales with any other person (and any replacement account or subdivision or sub-account
of that account).
	 
	 	 	“Account Bank” means Citibank London.
	 
	 	 	“Additional Agreement” has the meaning given to such term in the First Lien Intercreditor
Agreement.

-1-

 

	 	 	“Agreed Security Principles” has the meaning given to such term 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.
	 
	 	 	“Applicable Representative” has the meaning given to such term in the First Lien
Intercreditor Agreement.
	 
	 	 	“Collateral Rights” means all rights, powers and remedies of the Collateral Agent
provided by or pursuant to this Agreement or by law.
	 
	 	 	“Credit Agreement” means the Credit Agreement dated 5 November 2009 among Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KGaA,
Closure Systems International Holdings Inc., Closure Systems International B.V. and SIG
Austria Holding GmbH as borrowers, Reynolds Group Holdings Limited, the lenders from time to
time party thereto and Credit Suisse AG (formerly known as Credit Suisse), as administrative
agent, as amended, extended, restructured, renewed, novated, supplemented, restated,
refunded, replaced or modified from time to time.
	 
	 	 	“Delegate” means a delegate or sub-delegate appointed pursuant to Clause 11.8 (Delegation)
of this Agreement.
	 
	 	 	“Deposit” means the credit balance from time to time on an Account and all rights, benefits
and proceeds in respect of the credit balance of such Account.
	 
	 	 	“Enforcement Event” means an “Event of Default” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated 5
November 2009 among (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
Joinder Agreement which added the Collateral Agent as a collateral agent under the First
Lien Intercreditor Agreement).
	 
	 	 	“Group” means Reynolds Group Holdings Limited and each of its subsidiaries from time to
time.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent and the Collateral Agent as an
intercreditor agreement, in each case as amended, novated, supplemented, restated, replaced
or modified from time to time.
	 
	 	 	“Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.
	 
	 	 	“Joinder Agreement” means the joinder agreement dated 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of New York Mellon, Credit Suisse AG and Reynolds
Group Holdings Limited pursuant to which the Collateral Agent is

-2-

 

	 	 	appointed an additional collateral agent and becomes a party to the First Lien Intercreditor
Agreement.

	 	 	“Lien” has the meaning given to such term in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).
	 
	 	 	“Notice of Assignment” means a notice of assignment substantially in the form of Schedule 1
(Form of Notice of Assignment).
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.
	 
	 	 	“Receiver” means a receiver or receiver and manager or, where permitted by law, an
administrative receiver of the whole or any part of the Deposits and that term will include
any appointee made under a joint and/or several appointment.
	 
	 	 	“Secured Liabilities” means all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each Loan Party and each grantor of a security interest to the Secured
Parties (or any of them) under each or any of the Loan Documents, together with all costs,
charges and expenses incurred by any Secured Party in connection with the protection,
preservation or enforcement of its respective rights under the Loan Documents or any other
document evidencing or securing any such liabilities.
	 
	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Security Documents” means the “Security Documents” under, and as defined, in, the First
Lien Intercreditor Agreement.
	 
	 	 	“Senior Secured Note Indenture” means the Indenture dated 5 November 2009, among the
Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from
time to time.
	 
	1.2	 	Terms defined in the First Lien Intercreditor Agreement
	 
	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in
the First Lien Intercreditor Agreement has the same meaning in this Agreement or any notice
given under or in connection with this Agreement.

-3-

 

	1.3	 	Construction

	 	(a)	 	The rules of interpretation contained in Section 1.01 of the First Lien
Intercreditor Agreement will apply as if incorporated in this Agreement or in any
notice given under or in connection with this Agreement.
	 
	 	(b)	 	Any reference to the “Collateral Agent”, the “Company”, the “Loan Parties’
Agent” or the “Secured Parties” shall be construed so as to include its or their (and
any subsequent) successors and any permitted transferees in accordance with their
respective interests.
	 
	 	(c)	 	References in this Agreement to any Clause or Schedule shall be to a clause or
schedule contained in this Agreement unless a contrary intention appears.
	 
	 	(d)	 	This Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

	1.4	 	Third Party Rights
	 
	 	 	Other than a Delegate or Receiver, a person who is not a party to this Agreement has no
right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy any
benefit of any term of this Agreement.

	1.5	 	Collateral Agent’s Actions and Authority
	 
	 	 	The Company 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 a
collateral agent under the Principal Finance Documents.

	2.	 	COVENANT TO PAY
	 
	 	 	The Company covenants with the Collateral Agent acting in its own right and on behalf
and for the benefit of the Secured Parties that it shall on demand of the Collateral Agent
pay its Secured Liabilities (whether for its own account or on behalf and for the benefit of
the Secured Parties) including any liability to pay Secured Liabilities in respect of any
further advances made under the Loan Documents, whether present or future, actual or
contingent (and whether incurred solely or jointly and whether as principal or as surety or
in some other capacity) and the Company shall pay to the Collateral Agent when due and
payable every sum of its Secured Liabilities at any time owing, due or incurred by the
Company to the Collateral Agent (whether for its own account or on behalf and for the
benefit of the Secured Parties) or any of the other Secured Parties in respect of any such
liabilities, provided that neither such covenant nor the security constituted by this
Agreement shall extend to or include any liability or sum which would, but for this proviso,
cause such covenant or security to be unlawful or prohibited by any applicable law.

-4-

 

	3.	 	SECURITY OVER THE DEPOSIT
	 
	3.1	 	Assignment
	 
	 	 	The Company assigns absolutely with full title guarantee to the Collateral Agent as
security agent for the Secured Parties all of its right, title and interest in each Deposit
(subject to obtaining any necessary consent to that assignment from any third party) as
security for the payment and discharge of the Secured Liabilities.

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

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

	4.	 	DELIVERABLES
	 
	 	 	The Company shall deliver to the Account Bank (or procure delivery of) a Notice of
Assignment duly executed by, or on behalf of, the Company on the date of this Agreement and
shall use all reasonable endeavours to procure that the Notice of Assignment is acknowledged
by the Account Bank.

	5.	 	FURTHER ADVANCES

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

	6.	 	DEPOSIT
	 
	6.1	 	Notification and No Variation
	 
	 	 	The Company, during the subsistence of this Agreement:

	 	(a)	 	shall promptly deliver to the Collateral Agent details of any material change
made to any Account which holds a Deposit; and
	 
	 	(b)	 	shall not unless permitted under the Principal Finance Documents permit or
agree to any variation of the rights attaching to any Deposit or close any 

-5-

 

	 	 	 	Account
holding a Deposit (other than an Account that is no longer used by the
Company and which has a nil balance) without the Collateral Agent’s prior written
consent.

	6.2	 	Operation Before Enforcement Event
	 
	 	 	Subject to the terms of the Principal Finance Documents and this Clause 6 (Deposit), if
an Enforcement Event is not continuing, the Company shall be entitled to pay into, receive,
withdraw, transfer or otherwise deal with all or any part of any Deposit or any Account
unless such withdrawal, or transfer or dealing would cause an Enforcement Event to occur.
	 
	6.3	 	Operation After Enforcement Event
	 
	 	 	If an Enforcement Event has occurred and is continuing, the Company shall not be
entitled to receive, withdraw, transfer or otherwise deal with all or any part of any
Deposit except with the prior written consent of the Collateral Agent.
	 
	6.4	 	Collateral Agent Rights
	 
	 	 	If an Enforcement Event has occurred and is continuing, the Collateral Agent shall be
entitled, without notice or further demand, to exercise from time to time all rights, powers
and remedies held by it as assignee of the Deposits and to:

	 	(a)	 	demand and receive all and any monies due under or arising out of any Deposit;
	 
	 	(b)	 	exercise in relation to any Deposit all such rights as the Company was then
entitled to exercise in relation to that Deposit or might, but for the terms of this
Agreement, exercise; and
	 
	 	(c)	 	except to the extent prohibited by law, apply, set off or transfer any or all
of the Deposits in or towards the payment or other satisfaction of the Secured
Liabilities or any part of them in accordance with Clause 14 (Application of Proceeds).

	7.	 	COMPANY’S REPRESENTATIONS AND UNDERTAKINGS
	 
	7.1	 	Representation

	 	(a)	 	Establishments
	 
	 	 	 	The Company represents on and as at the date of this Agreement that it has not
registered any “establishments” (as that term is defined in Part 1 of The Overseas
Companies Regulations 2009) with the Registrar of Companies or, if it has so
registered, it has provided to the Collateral Agent sufficient details to enable an
accurate search against it to be undertaken by the Secured Parties at the Companies
Registry.
	 
	 	(b)	 	Ownership of Deposit
	 
	 	 	 	The Company represents on and as at the date of this Agreement that: (i) it is the
sole legal and beneficial owner of each Deposit, free and clear of all Liens,
subject to any Liens permitted pursuant to Section 6.02(u) of the Credit 

-6-

 

	 	 	 	Agreement
or any similar Liens or any Lien created by this Agreement; and (ii) it has not
sold or disposed of or granted any Lien over any of its right, title and
interest in any Deposit, in each case other than as permitted by the Loan Documents
and other than pursuant to this Agreement.

	7.2	 	Undertakings

	 	(a)	 	Disposals
	 
	 	 	 	Unless permitted by this Agreement or the Principal Finance Documents, the Company
shall not, if an Enforcement Event has occurred and is continuing, enter into a
single transaction or a series of transactions (whether related or not) and whether
voluntarily or involuntarily, to sell, transfer or otherwise dispose of or
otherwise deal with the whole or any part of any Deposit.
	 
	 	(b)	 	Negative Pledge
	 
	 	 	 	Unless permitted by this Agreement or the Principal Finance Documents, the Company
shall not create or permit to subsist any Lien on any part of the Deposits without
the prior written consent of the Collateral Agent (acting on the instructions of
the Applicable Representative).
	 
	 	(c)	 	Dormant Account
	 
	 	 	 	The Company shall ensure that any Account holding Deposits which are the subject of
the security constituted by this Agreement is not and does not become a dormant
account within the meaning of the Dormant Bank and Building Society Accounts Act
2008.

	8.	 	FURTHER ASSURANCE
	 
	8.1	 	Covenant for Further Assurance

	 	(a)	 	The covenant set out in Section 2(1)(b) of the Law of Property (Miscellaneous
Provisions) Act 1994 shall extend to include the obligations set out in Clause 8.1(b)
below.
	 
	 	(b)	 	Subject to the Agreed Security Principles, the Company will promptly at its own
cost do all such acts or execute all such documents (including assignments, transfers,
mortgages, charges, notices and instructions) as the Collateral Agent may specify (upon
reasonable instruction of the Applicable Representative) (and in such form as the
Collateral Agent, upon a reasonable instruction of the Applicable Representative, may
require in favour of the Collateral Agent or its nominee(s) or Delegate):

	 	(i)	 	to perfect the security created or intended to be created in respect
of the Deposits (which may include the execution by the Company of a mortgage,
charge or assignment over all or any of the assets constituting, or intended
to constitute, the Deposits, or for the exercise of the Collateral Rights;
and/or

-7-

 

	 	(ii)	 	to facilitate the realisation of each Deposit.

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

	 	(a)	 	carrying out any obligation imposed on the Company by this Agreement or any
other agreement binding on the Company to which the Collateral Agent is a party
(including the execution and delivery of any deeds, charges, assignments or other
security and any transfers of the assets subject to the security created by this
Agreement); and
	 
	 	(b)	 	enabling the Collateral Agent and any Receiver to exercise, or delegate the
exercise of, all or any of the Collateral Rights (including, if an Enforcement Event
has occurred and is continuing, the exercise of any right of a legal or beneficial
owner of each Deposit),

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

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

	 	 	provided further that the Collateral Agent shall not be obliged to exercise the powers
conferred upon it by the Company under this Clause 9.1 unless and until it shall have been
(a) instructed to do so by the Applicable Representative and (b) indemnified and/or secured
and/or prefunded to its satisfaction.
	 
	9.2	 	Ratification
	 
	 	 	The Company shall ratify and confirm all things done and all documents executed by any
attorney in the exercise or purported exercise of all or any of his powers.
	 
	10.	 	SECURITY ENFORCEMENT
	 
	10.1	 	Time for Enforcement
	 
	 	 	If an Enforcement Event has occurred and is continuing, or if a petition or application
is presented for the making of an administration order in relation to the Company, or if any
person who is entitled to do so gives written notice of its intention to appoint an
administrator of the Company or files such a notice with the court or is requested to do so
by the Company, save to the extent that such petition, application,
notice or filing is 

-8-

 

	 	 	
not
made by a member of the Group or any director of any member of the Group and is frivolous or
vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition,
application, notice or filing being made, the security created by or pursuant to this
Agreement is immediately enforceable and the Collateral Agent may, without
notice to the Company or prior authorisation from any court, in its absolute discretion and
shall, if so instructed by the Applicable Representative:

	 	(a)	 	secure and perfect its title to all or any part of the Deposits (including
transferring the same into the name of the Collateral Agent or its nominee(s)) or
otherwise exercise in relation to the Deposits all the rights of an absolute owner;
	 
	 	(b)	 	enforce all or any part of the security created by or pursuant to this
Agreement (at the times, in the manner and on the terms it thinks fit) and take
possession of and hold or dispose of all or any part of the Deposits; and
	 
	 	(c)	 	whether or not it has appointed a Receiver, exercise all or any of the powers,
authorisations and discretions conferred by the Law of Property Act 1925 (as varied or
extended by this Agreement) on chargees and by this Agreement on any Receiver or
otherwise conferred by law on chargees or Receivers.

	10.2	 	Power of sale

	 	(a)	 	The power of sale or other disposal conferred on the Collateral Agent and on
the Receiver by this Agreement shall operate as a variation and extension of the
statutory power of sale under Section 101 of the Law of Property Act 1925 and such
power shall arise (and the Secured Liabilities shall be deemed due and payable for that
purpose) on execution of this Agreement.
	 
	 	(b)	 	The restrictions contained in Sections 93 and 103 of the Law of Property Act
1925 shall not apply to this Agreement or to the exercise by the Collateral Agent of
its right to consolidate all or any of the security created by or pursuant to this
Agreement with any other security in existence at any time or to its power of sale
which powers may be exercised by the Collateral Agent without notice to the Company on
or at any time if an Enforcement Event has occurred and is continuing.

	10.3	 	Collateral Agent’s liability
	 
	 	 	Neither the Collateral Agent nor any Receiver will be liable to account as a mortgagee
or mortgagee in possession in respect of any Deposit or be liable for any loss upon
realisation or for any neglect or default of any nature whatsoever in connection with any
Deposit for which a mortgagee or mortgagee in possession might as such be liable.
	 
	10.4	 	Right of Appropriation
	 
	 	 	To the extent that any Deposit constitutes “financial collateral” and this Agreement
and the obligations of the Company hereunder constitute a “security financial collateral
arrangement” (in each case as defined in, and for the purposes of, the Financial Collateral
Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226) (the “Regulations”) the Collateral
Agent shall have the right if an Enforcement Event has 

-9-

 

	 	 	occurred and is continuing to
appropriate all or any part of such financial collateral in or towards discharge of the
Secured Liabilities and may exercise such right to appropriate upon giving written notice to
the Company. For this purpose, the parties agree that the value of such financial
collateral so appropriated shall be the amount of such Deposit, together with any accrued
but unposted interest that is paid in relation to such Deposit, at the time the right of
appropriation is exercised. The parties further agree that the method of
valuation provided for in this Agreement shall constitute a commercially reasonable method
of valuation for the purposes of the Regulations.
	 
	10.5	 	Statutory powers
	 
	 	 	The powers conferred by this Agreement on the Collateral Agent are in addition to and
not in substitution for the powers conferred on mortgagees and mortgagees in possession
under the Law of Property Act 1925, the Insolvency Act 1986 or otherwise by law and in the
case of any conflict between the powers contained in any such Act and those conferred by
this Agreement the terms of this Agreement will prevail.
	 
	11.	 	RECEIVERS
	 
	11.1	 	Appointment and Removal
	 
	 	 	If an Enforcement Event has occurred and is continuing or if a petition or application
is presented for the making of an administration order in relation to the Company, or if any
person who is entitled to do so gives written notice of its intention to appoint an
administrator of the Company or files such a notice with the court or is requested to do so
by the Company, save to the extent that such petition, application,
notice or filing is not
made by a member of the Group or any director of any member of the Group and is frivolous or
vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition,
application, notice or filing being made the Collateral Agent may by deed or otherwise
(acting through an authorised officer of the Collateral Agent), without prior notice to the
Company:

	 	(a)	 	appoint one or more persons to be a Receiver of the whole or any part of the
Deposits;
	 
	 	(b)	 	remove (so far as it is lawfully able) any Receiver so appointed;
	 
	 	(c)	 	appoint another person(s) as an additional or replacement Receiver(s); or
	 
	 	(d)	 	appoint one or more persons to be an administrator of the Company.

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

	 	(a)	 	entitled to act individually or together with any other person appointed or
substituted as Receiver;
	 
	 	(b)	 	for all purposes shall be deemed to be the agent of the Company which shall be
solely responsible for his acts, defaults and liabilities and for the payment

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	 	 	 	of his remuneration and no Receiver shall at any time act as agent for the Collateral Agent;
and
	 
	 	(c)	 	entitled to remuneration for his services at a rate to be fixed by the
Collateral Agent from time to time (without being limited to the maximum rate specified
by the Law of Property Act 1925).

	11.3	 	Statutory powers of appointment
	 
	 	 	The powers of appointment of a Receiver shall be in addition to all statutory and other
powers of appointment of the Collateral Agent under the Law of Property Act 1925 (as
extended by this Agreement) or otherwise and such powers shall remain exercisable from time
to time by the Collateral Agent in respect of any part of the Deposits.
	 
	11.4	 	Powers of Receivers
	 
	 	 	Every Receiver shall (subject to any restrictions in the instrument appointing him but
notwithstanding any winding-up or dissolution of the Company) have and be entitled to
exercise, in relation to the Deposits in respect of which he was appointed, and as varied
and extended by the provisions of this Agreement (in the name of or on behalf of the Company
or in his own name and, in each case, at the cost of the Company):

	 	(a)	 	all the powers conferred by the Law of Property Act 1925 on mortgagors and on
mortgagees in possession and on receivers appointed under that Act;
	 
	 	(b)	 	all the powers of an administrative receiver set out in Schedule 1 to the
Insolvency Act 1986 (whether or not the Receiver is an administrative receiver);
	 
	 	(c)	 	all the powers and rights of an absolute owner and power to do or omit to do
anything which the Company itself could do or omit to do;
	 
	 	(d)	 	the power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement or any of the Principal
Finance Documents (including the power of attorney) on such terms and conditions as it
shall see fit which delegation shall not preclude either the subsequent exercise any
subsequent delegation or any revocation of such power, authority or discretion by the
Receiver itself; and
	 
	 	(e)	 	the power to do all things (including bringing or defending proceedings in the
name or on behalf of the Company) which seem to the Receiver to be incidental or
conducive to:

	 	(i)	 	any of the functions, powers, authorities or discretions conferred on
or vested in him;
	 
	 	(ii)	 	the exercise of any Collateral Rights (including realisation of all
or any part of the Deposits); or
	 
	 	(iii)	 	bringing to his hands any assets of the Company forming part of, or
which when got in would be, a Deposit.

-11-

 

	11.5	 	Consideration
	 
	 	 	The receipt of the Collateral Agent or any Receiver shall be a conclusive discharge to
a purchaser and, in making any sale or disposal of the Deposits or making any acquisition,
the Collateral Agent or any Receiver may do so for such consideration, in such manner and on
such terms as it thinks fit.
	 
	11.6	 	Protection of purchasers
	 
	 	 	No purchaser or other person dealing with the Collateral Agent or any Receiver shall be
bound to inquire whether the right of the Collateral Agent or such Receiver to exercise
any of its powers has arisen or become exercisable or be concerned with any propriety or
regularity on the part of the Collateral Agent or such Receiver in such dealings.
	 
	11.7	 	Discretions
	 
	 	 	Any liberty or power which may be exercised or any determination which may be made
under this Agreement by the Collateral Agent or any Receiver may, subject to the terms and
conditions of the Intercreditor Arrangements and to any requirement of reasonableness
required under this Agreement, be exercised or made in its absolute and unfettered
discretion without any obligation to give reasons.
	 
	11.8	 	Delegation
	 
	 	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement (to the extent
permitted by English law), each of the Collateral Agent and any Receiver shall have full
power to delegate (either generally or specifically) the powers, authorities and discretions
conferred on it by this Agreement (including the power of attorney) on such terms and
conditions as it shall see fit which delegation shall not preclude either the subsequent
exercise, any subsequent delegation or any revocation of such power, authority or discretion
by the Collateral Agent or the Receiver itself.
	 
	12.	 	EFFECTIVENESS OF COLLATERAL
	 
	12.1	 	Collateral Cumulative
	 
	 	 	The collateral constituted by this Agreement and the Collateral Rights shall be
cumulative, in addition to and independent of every other security which the Collateral
Agent or any other Secured Party may at any time hold for the Secured Liabilities or any
rights, powers and remedies provided by law. No prior security held by the Collateral Agent
or any other Secured Party over the whole or any part of any Deposit shall merge into the
collateral constituted by this Agreement.
	 
	12.2	 	No Waiver
	 
	 	 	No failure to exercise, nor any delay in exercising, on the part of the Collateral
Agent, any right, power or remedy of the Collateral Agent provided by this Agreement or by
law shall operate as a waiver, nor shall any single or partial exercise of that right, power
or remedy prevent any further or other exercise of that or any other right, power or remedy
of the Collateral Agent provided by this Agreement or by law.

-12-

 

	12.3	 	Illegality, Invalidity, Unenforceability
	 
	 	 	If, at any time, any provision of this Agreement is or becomes illegal, invalid or
unenforceable in any respect under the law of any jurisdiction, neither the legality,
validity or enforceability of the remaining provisions of this Agreement nor the legality,
validity or enforceability of such provision under the law of any other jurisdiction will in
any way be affected or impaired and if any part of the security intended to be created by or
pursuant to this Agreement is invalid, unenforceable or ineffective for any reason, that
shall not affect or impair any other part of the security.
	 
	12.4	 	No liability
	 
	 	 	None of the Collateral Agent, its nominee(s) or any Receiver 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 Deposits or (c) the taking possession
or realisation of all or any part of the Deposits, except to the extent provided in the
Principal Finance Documents.
	 
	12.5	 	Implied Covenants for Title

	 	(a)	 	The covenants set out in Sections 3(1), 3(2) and 6(2) of the Law of Property
(Miscellaneous Provisions) Act 1994 will not extend to Clause 3 (Security over the
Deposits).
	 
	 	(b)	 	It shall be implied in respect of Clause 3 (Security over the Deposits) that
the Company is assigning the Deposits free from all charges and encumbrances (whether
monetary or not) and from all other rights exercisable by third parties (including
liabilities imposed and rights conferred by or under any enactment).

	12.6	 	Continuing security

	 	(a)	 	The security created by or pursuant to this Agreement is a continuing security
and will remain in full force and effect as a continuing security for the Secured
Liabilities unless and until realised or discharged by the Collateral Agent.
	 
	 	(b)	 	No part of the security from time to time constituted by this Agreement will be
considered satisfied or discharged by any intermediate payment, discharge or
satisfaction of the whole or any part of the Secured Liabilities.

	12.7	 	Immediate recourse
	 
	 	 	The Company waives any right it may have of first requiring the Collateral Agent or a
Secured Party to proceed against or enforce any other rights or Lien or claim payment from
any person before claiming from the Company under this Agreement. This waiver applies
irrespective of any law or any provision of this Agreement to the contrary.
	 
	12.8	 	Avoidance of Payments
	 
	 	 	If the Collateral Agent, acting on the reasonable instruction of the Applicable
Representative, considers that any amount paid or credited to any Secured Party is
reasonably likely to be avoided or reduced by virtue of any bankruptcy, insolvency,
liquidation or similar laws the liability of the Company under this Agreement and the

-13-

 

	 	 	security constituted by this Agreement shall continue and such amount shall not be
considered to have been irrevocably paid.

	12.9	 	Non-competition
	 
	 	 	Until such time as the Secured Liabilities have been discharged in full, the Company
will not exercise any rights which it may have by reason of performance by it of its
obligations under this Agreement:

	 	(a)	 	to be indemnified by any Loan Party;
	 
	 	(b)	 	to claim any contribution from any guarantor of any Loan Party’s obligations
under this Agreement; and/or
	 
	 	(c)	 	to take the benefit (in whole or in part and whether by way of subrogation or
otherwise) of any rights of a Secured Party under the Loan Documents or of any other
guarantee or security taken pursuant to, or in connection with, this Agreement by any
Secured Party.

	12.10	 	Waiver of defences
	 
	 	 	The obligations of the Company under this Agreement and the Collateral Rights will not
be affected by any act, omission, matter or thing which, but for this Clause 12.10 (Waiver
of defences), would reduce, release or prejudice any of its obligations under this Agreement
and this Lien and whether or not known to the Company or the Collateral Agent or any Secured
Party including:

	 	(a)	 	any time, waiver or consent granted to, or composition with, any Loan Party or
other person;
	 
	 	(b)	 	the release of any other Loan Party or any other person under the terms of any
composition or arrangement with any creditor of any Loan Party;
	 
	 	(c)	 	the taking, variation, compromise, exchange, renewal or release of, or refusal
or neglect to perfect, take up or enforce, any rights against, or Lien over assets of,
any Loan Party or other person or any non-presentment or non-observance of any
formality or other requirement in respect of any instruments or any failure to realise
the full value of any other Lien;
	 
	 	(d)	 	any incapacity or lack of powers, authority or legal personality of or
dissolution or change in the members or status of any Loan Party or any other person;
	 
	 	(e)	 	any amendment, novation, supplement, extension (whether of maturity or
otherwise), restatement (in each case however fundamental and of whatsoever nature, and
whether or not more onerous) or replacement of any Loan Document or any other document
or security or of the Secured Liabilities;
	 
	 	(f)	 	any unenforceability, illegality or invalidity of any obligation of any person
under any Loan Document or any other document or security or of the Secured
Liabilities; or

-14-

 

	 	(g)	 	any insolvency or similar proceedings.

	12.11	 	No prejudice
	 
	 	 	The security created by or pursuant to this Agreement and the Collateral Rights shall
not be prejudiced by any unenforceability or invalidity of any other agreement or document
or by any time or indulgence granted to the Company or any other person, or the Collateral
Agent (whether in its capacity as security agent or otherwise) or any of the other Secured
Parties or by any variation of the terms upon which the Collateral Agent holds the security
or by any other thing which might otherwise prejudice that security or any Collateral Right.
	 
	12.12	 	Instructions of Applicable Representative
	 
	 	 	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 Company.
	 
	13.	 	INDEMNITY
	 
	13.1	 	Indemnity
	 
	 	 	To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement, the
Company shall, notwithstanding any release or discharge of all or any part of the security,
indemnify the Collateral Agent, its agents, attorneys, any Delegate and any Receiver against
any action, proceeding, claims, losses, liabilities, expenses, demands, taxes and costs
which it may sustain as a consequence of any breach by the Company of the provisions of this
Agreement, the exercise or purported exercise of any of the rights and powers conferred on
them by this Agreement or otherwise relating to any Deposit.
	 
	13.2	 	Interest on Demands
	 
	 	 	Section 2.07 (Default Interest) of the Credit Agreement applies to amounts which the
Company fails to pay under this Agreement.
	 
	13.3	 	Payments Free Of Deduction
	 
	 	 	Section 2.20 (Taxes) of the Credit Agreement applies to this Agreement, save that, for
the purposes of this Agreement, the references in Section 2.20 (Taxes) of the Credit
Agreement to “a Loan Party”, “that Loan Party” and “each Loan Party” shall be replaced with
“the Company”.
	 
	14.	 	APPLICATION OF PROCEEDS
	 
	 	 	All monies received or recovered by the Collateral Agent or any Receiver pursuant to
this Agreement or the powers conferred by it shall (subject to the claims of any person
having prior rights thereto and by way of variation of the provisions of the Law of Property
Act 1925) be applied in accordance with Section 2.01 of the First Lien Intercreditor
Agreement.

-15-

 

	15.	 	OTHER SECURITY INTERESTS
	 
	15.1	 	Redemption or transfer
	 
	 	 	In the event of any action, proceeding or step being taken to exercise any powers or
remedies conferred by any prior ranking Lien in case of exercise by the Collateral Agent or
any Receiver of any power of sale under this Agreement the Collateral Agent may redeem such
prior Lien or procure the transfer thereof to itself. The Collateral Agent may settle and
pass the accounts of the prior Lien and any accounts so settled and passed will be
conclusive and binding on the Company.
	 
	15.2	 	Costs of redemption or transfer
	 
	 	 	All principal monies, interest, costs, charges and expenses of and incidental to any
redemption or transfer under Clause 15.1 will be paid by the Company to the Collateral Agent
on demand together with accrued interest thereon (as well as before judgment) at the rate
from time to time applicable to unpaid sums specified in the Credit Agreement from the time
or respective times of the same having been paid or incurred until payment thereof (after as
well as before judgment).
	 
	15.3	 	Subsequent Interests
	 
	 	 	If the Collateral Agent (acting in its capacity as security agent or otherwise) or any
of the Secured Parties at any time receives notice or is deemed to have received notice of
any subsequent Lien affecting all or any part of any Deposit or any assignment or transfer
of
any Deposit which in either case is prohibited by the terms of this Agreement or the
Principal Finance Documents, all payments made by the Company to the Collateral Agent or any
of the Secured Parties after that time shall be treated as having been credited to a new
account of the Company and not as having been applied in reduction of the Secured
Liabilities as at the time when the Collateral Agent received notice.
	 
	16.	 	SUSPENSE ACCOUNTS
	 
	 	 	All monies received, recovered or realised by the Collateral Agent under this Agreement
(including the proceeds of any conversion of currency) may in the discretion of the
Collateral Agent be credited to any interest bearing suspense or impersonal account
maintained with the Collateral Agent or any bank, building society or financial institution
as it considers appropriate and may be held in such account for so long as the Collateral
Agent may think fit (acting on the instructions of the Applicable Representative) pending
their application from time to time (as the Collateral Agent is entitled to do in its
discretion) in or towards the discharge of any of the Secured Liabilities and save as
provided herein no party will be entitled to withdraw any amount at any time standing to the
credit of any suspense or impersonal account referred to above.
	 
	17.	 	CURRENCY INDEMNITY

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

-16-

 

	 	(b)	 	If any Secured Liabilities is received from the Company in a currency (“first
currency”) other than the currency (“second currency”) in which it is payable (whether
as a result of obtaining or enforcing an order or judgment, the dissolution of any
person or otherwise), the amount received shall only satisfy the Company’s obligation
to pay its Secured Liabilities to the extent of the amount in the second currency which
the relevant Secured Party is able, in accordance with its usual practice, to purchase
with the amount received in the first currency on the date of that receipt (or, if it
is not possible to make that purchase on that date, on the first date upon which it is
possible to do so).
	 
	 	(c)	 	Subject to Section 9.05 of the Credit Agreement and the terms of the Principal
Finance Documents, the Company indemnifies each Secured Party against:

	 	(i)	 	any loss sustained by it as a result of the amount purchased by it in
the second currency pursuant to Clause (b) above being less than the amount
due; and
	 
	 	(ii)	 	all costs and expenses properly incurred by it in purchasing the
second currency,

	 	 	 	in respect of any Secured Liabilities received from the Company.
	 
	 	(d)	 	The Company shall pay to the relevant Secured Party, promptly upon demand, in
the currency stipulated, all amounts payable pursuant to such indemnity.

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

-17-

 

	19.	 	DISCLOSURE
	 
	 	 	Subject to Section 9.16 of the Credit Agreement and the terms of the Principal
Finance Documents, the Collateral Agent shall be entitled to disclose such information
concerning the Company and this Agreement as the Collateral Agent considers appropriate to
any actual or proposed direct or indirect successor or to any person to whom information may
be required to be disclosed by applicable law.
	 
	20.	 	COLLATERAL AGENT SUCCESSORS
	 
	 	 	This Agreement shall remain in effect despite any amalgamation or merger (however
effected) relating to the Collateral Agent; and references to the Collateral Agent shall
include any assignee or successor in title of the Collateral Agent and any person who, under
the laws of its jurisdiction of incorporation or domicile, has assumed the rights and
obligations of the Collateral Agent under this Agreement or to which, under such laws, those
rights and obligations have been transferred.
	 
	21.	 	WAIVERS AND COUNTERPARTS
	 
	21.1	 	Waivers
	 
	 	 	No waiver by the Collateral Agent of any of its rights under this Agreement shall be
effective unless given in writing.
	 
	21.2	 	Counterparts
	 
	 	 	This Agreement may be executed in any number of counterparts, and this has the same
effect as if the signatures on the counterparts were on a single copy of this Agreement.
	 
	22.	 	LAW
	 
	 	 	This Agreement and any non-contractual obligations arising out of or in connection
with it are governed by English law.
	 
	23.	 	ENFORCEMENT
	 
	23.1	 	Jurisdiction of English Courts

	 	(a)	 	The courts of England have exclusive jurisdiction to settle any dispute (a
“Dispute”) arising out of or connected with this Agreement (including a dispute
regarding the existence, validity or termination of this Agreement or the consequences
of its nullity) or any non-contractual obligations arising out of or in connection with
this Agreement.
	 
	 	(b)	 	The parties agree that the courts of England are the most appropriate and
convenient courts to settle Disputes and accordingly no party will argue to the
contrary.
	 
	 	(c)	 	This Clause 23 (Enforcement) is for the benefit of the Collateral Agent only.
As a result and notwithstanding Clause 23.1(a), it does not prevent the Collateral
Agent from taking proceedings relating to a Dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent
proceedings in any number of jurisdictions.

-18-

 

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

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

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

-19-

 

SCHEDULE 1

Form of Notice of Assignment

TO: [Account bank]

Date: [•]

Dear Sirs,

We give you notice that, pursuant to an English law security over cash agreement (the “Agreement”)
dated [•] and made between ourselves and Wilmington Trust (London) Limited (the “Collateral
Agent”), we have assigned to the Collateral Agent all of our right, title and interest in the
credit balance from time to time on account number [•] (account name [•]) (including any renewal or
redesignation thereof or substitution therefor) and all rights, benefits and proceeds in respect of
the credit balance of that account from time to time (the “Account”). All references to the
Collateral Agent in this notice include any person or entity appointed as successor to Wilmington
Trust (London) Limited as Collateral Agent.

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

	(a)	 	any existing payment instructions affecting the Account shall immediately be
terminated and all payments and communications in respect of the Account shall from that time
onwards be made to the Collateral Agent or to its order (with a copy to us); and
	 
	(b)	 	all rights, interests and benefits whatsoever accruing to or for the benefit of
ourselves arising from the Account shall belong to the Collateral Agent.

For the avoidance of doubt, unless and until you receive notice from the Collateral Agent that an
Enforcement Event (as defined in the Agreement) has occurred and is continuing, the Account shall
be operated as normal in accordance with the account mandate that currently exists.

Please accept this notice by signing the enclosed acknowledgement and returning it to the
Collateral Agent at 6 Broad Street Place, London, EC2M 7JH, facsimile +44 (0)20 7614 1122 marked
for the attention of Elaine Lockhart.

-20-

 

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

Yours faithfully

 

for and on behalf of 

CSI Hungary Gyártó
és Kereskedelmi Korlátolt Felelősségű Társaság 

-21-

 

	 	 	 	 	 

[on copy only]

To: Wilmington Trust (London) Limited

Date: [•]

At the
request of the Collateral Agent and CSI Hungary Gyártó
és Kereskedelmi Korlátolt Felelősségű
Társaság we acknowledge receipt of the notice of assignment, on the terms attached, in respect of
the Account (as described in those terms). We confirm that:

	(a)	 	the balance standing to the Account at today’s date is [•], no fees or periodic
charges are payable in respect of the Account and there are no restrictions on (a) the payment
of the credit balance on the Account [(except, in the case of a time deposit, the expiry of
the relevant period)] or (b) the assignment of the Account to the Collateral Agent or any
third party;
	 
	(b)	 	we have not received notice of any previous and continuing assignments of, charges
over or trusts in respect of, the Account;
	 
	(c)	 	following receipt by ourselves of notice from the Collateral Agent that an
Enforcement Event (as defined in the Agreement) has occurred and is continuing, we will not
without the Collateral Agent’s consent (i) exercise any right of combination, consolidation or
set off which we may have in respect of the Account or (ii) amend or vary any rights attaching
to the Account;
	 
	(d)	 	following receipt by ourselves of notice from the Collateral Agent that an
Enforcement Event has occurred and is continuing, we will act only in accordance with the
instructions given by persons authorised by the Collateral Agent and we shall send all
statements and other notices given by us relating to the Account to the Collateral Agent; and
	 
	(e)	 	we will not, in accordance with the Dormant Bank and Building Society Accounts Act
2008, take any steps to transfer the balance standing to the credit of the Account to the
reclaim fund without the Collateral Agent’s prior written consent.

For and on behalf of [•]

	 	 	 	 	 
	 	 	 
	By:  	
 	 	 
	 	 	 	 
	 	 	 	 

-22-

 

	 	 	 	 	 

Company

Executed as a deed on behalf of                 
                         
                              )

CSI Hungary Gyártó és Kereskedelmi Korlátolt
Felelősségű Társaság     )

by a duly authorised representative               
                    
                               )

acting by              
                 
                              
              
                               )

	 	 	 	 	 
	 	 	 
	  	/s/ CINDI LEFARI
 	 	 
	 	Name 	 	 
	 	 	 	 
	  	  ATTORNEY
 	 	 
	 	Title 	 	 

The Collateral Agent

WILMINGTON TRUST (LONDON) LIMITED

Executed by              
                    
                              )

WILMINGTON TRUST (LONDON) LIMITED  )

	 	 	 	 	 
	 	 	 
	  	/s/ ELAINE LOCKHART
 	 	 
	 
	 	 	 
	  	 RELATIONSHIP MANAGER
 	 	 
	 	Title 	 	 
	 	 	 	 
	 

-23-

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"}]]