Document:

exv4w163

EXHIBIT 4.163

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

Account Pledge Agreement

between

1. SIG Combibloc GmbH

as Pledgor

and

2. Wilmington Trust (London) Limited

as Pledgee and Collateral Agent

 

 

Contents

	 	 	 	 	 

	Whereas:

	 	 	3	 
	1. Definitions

	 	 	3	 
	2. Construction

	 	 	6	 
	3. Secured Obligations

	 	 	7	 
	4. Pledges

	 	 	8	 
	5. Perfection of Security and Further Security

	 	 	8	 
	6. Waiver of credit institutions

	 	 	10	 
	7. Enforcement of Pledges

	 	 	10	 
	8. Undertakings of the Pledgor

	 	 	11	 
	9. Acknowledgment by Pledgor

	 	 	12	 
	10. Representations and Warranties of the Pledgor

	 	 	12	 
	11. Duration and Independence

	 	 	13	 
	12. Partial Invalidity; Waiver

	 	 	13	 
	13. Further Assurance

	 	 	14	 
	14. Amendments; Waiver

	 	 	14	 
	15. Miscellaneous

	 	 	14	 
	16. Execution in Counterparts

	 	 	16	 
	17. Stamp Duty

	 	 	16	 
	18. Capital maintenance

	 	 	16	 
	19. Choice of Law

	 	 	17	 
	20. Settlement of Disputes

	 	 	17	 

Schedules

	 	 	 

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

	 
	Schedule B
	 	Notification the account holding bank (Clause 5.3)

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Whereas:

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

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

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

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

Now, it is agreed as follows:

1. Definitions

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

	 	 	 

	Accounts

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

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

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

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

	 	means the joinder agreement dated 21 January 2010
made among (amongst others) the Collateral Agent,
The Bank of New York Mellon, Credit Suisse AG and
Reynolds Group

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	 	Holdings Limited pursuant to which
the Collateral Agent is appointed an additional
collateral agent and becomes party to the First
Lien Intercreditor Agreement.
	 
	 	 
	Borrowers

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

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

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

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

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

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

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

Agreement

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

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

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

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

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

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

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

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

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

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

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

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	 	means any of them.
	 
	 	 
	Pledge

	 	has the meaning given to it in Clause 4.1.
	 
	 	 
	Pledgee

	 	means the Collateral Agent.
	 
	 	 
	Pledgor

	 	means SIG Combibloc GmbH, a limited liability
company organised under the laws of Austria with
its seat in Saalfelden am Steinernen Meer, Austria,
and its business address as at the date of this
Agreement at Industriestraße 3, 5760 Saalfelden,
Austria, registered in the Austrian companies
register (Firmenbuch) under file number FN 237985
d.
	 
	 	 
	Principal Finance 

Documents

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

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

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

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

Indenture

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

2. Construction

In this Agreement, unless the context otherwise requires:

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

3. Secured Obligations

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

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

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

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4. Pledges

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

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

4.3 The Collateral Agent hereby accepts the Pledges.

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

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

5. Perfection of Security and Further Security

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

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

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

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

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

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6. Waiver of credit institutions

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

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

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

7. Enforcement of Pledges

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

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

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

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

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

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

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

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

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

8. Undertakings of the Pledgor

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

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

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

9. Acknowledgment by Pledgor

The Pledgor acknowledges that:

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

10. Representations and Warranties of the Pledgor

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

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

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

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

11. Duration and Independence

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

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

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

12. Partial Invalidity; Waiver

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

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

12.3 No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or
the Secured Parties, any right or remedy hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any right or remedy prevent any further or other exercise thereof or
the exercise of any other right or remedy.

- 13 -

 

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

13. Further Assurance

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

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

14. Amendments; Waiver

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

15. Miscellaneous

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

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

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

- 14 -

 

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

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

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

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

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

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

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

- 15 -

 

attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes and costs which it may sustain as a consequence of any breach by the Pledgor of the
provisions of this Agreement, the exercise or purported exercise of any of the rights and powers
conferred on them by this Agreement or otherwise relating to the Accounts.

15.9 The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this Agreement
are on the basis of authority conferred under the Principal Finance Documents to which the
Collateral Agent is a party, and on directions of the Applicable Representative. In so acting, the
Collateral Agent shall have, subject to the terms of the Principal Finance Documents, the
protections, immunities, rights, indemnities and benefits conferred on the collateral agent under
the Principal Finance Documents.

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

16. Execution in Counterparts

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

17. Stamp Duty

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

18. Capital maintenance

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

- 16 -

 

Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) pursuant to Austrian
company law, in particular Sections 82 et seq of the Austrian Act on Limited Liability Companies
(Gesetz über Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of the
Austrian Stock Corporation Act (Aktiengesetz).

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

19. Choice of Law

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

20. Settlement of Disputes

20.1 Jurisdiction of English Courts

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

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

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

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

- 17 -

 

COLLATERAL AGENT

4 March 2010, London, United Kingdom

	 	 	 	 	 
	 	/s/ Elaine Lockhart
 	 
	 	Wilmington Trust (London) Limited 	 
	 

By: Elaine Lockart

PLEDGOR

4 March 2010, Sydney, Australia

	 	 	 	 	 
	 	/s/ Cindi Lefari
 	 
	 	SIG Combibloc GmbH 	 

	 	 	 	 	 
	 	By:  	Cindi Lefari
 	 
	 	 	Attorney 	 

	 	 	 	 	 
	 	/s/ Mark Dunkley
 	 
	 	SIG Combibloc GmbH 	 

	 	 	 	 	 
	 	By:  	Mark Dunkley
 	 
	 	 	Attorney 	 
	 	 	 	 

- 18 -

 

	 	 	 	 	 

Schedule A

LIST OF BANK ACCOUNTS AND CREDIT INSTITUTIONS

as of the date of this Agreement

	 	 	 	 	 	 	 
	Credit Institution	 	Account Number	 	BIC:	 	IBAN
	Raiffeisen Zentralbank Österreich AG

	 	[                    ]
	 	RZBAATWW
	 	[                    ]
	Bank Austria Creditanstalt,
Rainerstr. 2, 5020 Salzburg

	 	[                    ]
	 	BKAUATWWSAL
	 	[                    ]

- 19 -

 

Schedule B

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

SIG Combibloc GmbH

c/o l [address outside of Austria]

To:

[the credit institution]

[address outside of Austria]

___________________, on ___________________

Reference: Notification of a pledge

Dear Sir/Madam,

This is to inform you that SIG Combibloc GmbH, a limited company organised under the laws of
Austria with its corporate seat in Saalfelden am Steinernen Meer, Austria, and its business address
as at the date of this notification at Industriestraße 3, 5760 Saalfelden, Austria, and registered
in the Austrian companies register (Firmenbuch) under file number FN 237985 d, has pledged any and
all present and future rights, title and interests in/to all funds, proceeds, interest and other
rights held in, accruing on, standing to the credit of or arising in relation to all our bank
accounts with you in Austria, including but not limited to account no. __________________ at
[credit institution] (bank sort code __________________, SWIFT Code __________________,
IBAN __________________), to Wilmington Trust (London) Limited, l, on l 2010. We hereby
notify you of such pledge.

- 20 -

 

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

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

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

Yours sincerely,

 

SIG Combibloc GmbH

 

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

- 21 -

 

For acknowledgement of receipt and agreement with the above.

[place outside of Austria]_________, on _________

	 	 	 

	 
	 

	 	 
	[authorized signatory]

	 	[authorized signatory]
	for

	 	for
	[credit institution]

	 	[credit institution]

* * *

- 22 -exv4w164

Exhibit 4.164

SIG AUSTRIA HOLDING GMBH

as Pledgor

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent and Pledgee

 

ACCOUNT PLEDGE AGREEMENT

(Kontoverpfändung)

 

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

 

 

CONTENTS

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	- 4 -	 
	2. Pledge
	 	 	- 10 -	 
	3. Purpose of the Pledge
	 	 	- 11 -	 
	4. Notice of Pledge
	 	 	- 11 -	 
	5. Pledgor’s Right of Disposal
	 	 	- 12 -	 
	6. Enforcement of the Pledge
	 	 	- 12 -	 
	7. Austrian Limitations on Enforcement
	 	 	- 13 -	 
	8. Undertakings of the Pledgor
	 	 	- 14 -	 
	9. Delegation
	 	 	- 15 -	 
	10. Indemnity
	 	 	- 16 -	 
	11. No liability
	 	 	- 16 -	 
	12. Duration and Independence
	 	 	- 16 -	 
	13. Release (Pfandfreigabe)
	 	 	- 16 -	 
	14. Partial Invalidity; Waiver
	 	 	- 17 -	 
	15. Amendments
	 	 	- 17 -	 
	16. Austrian Stamp Duty
	 	 	- 18 -	 
	17. Notices and their Language
	 	 	- 19 -	 
	18. Applicable Law, Jurisdiction
	 	 	- 20 -	 
	19. Conclusion of this Agreement (Vertragsschluss)
	 	 	- 21 -	 
	Schedule 1
	 	 	- 23 -	 
	Part 1 List of Current Borrowers
	 	 	- 23 -	 
	Part 2 List of Current Guarantors
	 	 	- 23 -	 
	Part 3 List of Current Senior Secured Note Guarantors
	 	 	- 27 -	 
	Part 4 List of Current New Secured Note Guarantors
	 	 	- 32 -	 
	Schedule 2 List of Accounts
	 	 	- 37 -	 
	Schedule 3 Form of Notice of Pledge
	 	 	- 38 -	 
	Schedule 4 Form of Notification of Future Accounts
	 	 	- 43 -	 
	Schedule 5 Stamp Duty Guidelines
	 	 	- 45 -	 

 

 

This ACCOUNT PLEDGE AGREEMENT (the “Agreement”) is made on
4 March 2010

BETWEEN:

	(1)	 	SIG Austria Holding GmbH, having its business address as at the date of this Agreement at
Industriestraße 3 A-5760 Saalfelden, Austria and registered in the company book (Firmenbuch)
of the Republic of Austria under FN 236071 p (the “Pledgor”); and
	 
	(2)	 	Wilmington Trust (London) Limited, a private limited company whose registered number is
05650152 and whose registered office address as at the date of this Agreement is at Fifth
Floor, 6 Broad Street Place, London EC2M 7JH, United Kingdom, in its capacity as collateral
agent under the First Lien Intercreditor Agreement (as defined below) (the “Collateral Agent”
or the “Pledgee”).

WHEREAS:

	(A)	 	Pursuant to a USD 3,975,000,000 and EUR 330,000,000 multi-currency term and revolving credit
agreement dated 5 November 2009 (as amended by the Amendment No.1 (as defined below), by the
Amendment No. 2 and Incremental Term Loan Assumption Agreement (as defined below) and by the
Amendment No. 3 and Incremental Term Loan Assumption Agreement (as defined below)) between,
inter alia, the parties listed in Part 1 of Schedule 1 hereto as current borrowers (the
“Current Borrowers”), the parties listed in Part 2 of Schedule 1 hereto as current
guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Islands Branch (formerly
Credit Suisse, Cayman Islands Branch) as administrative agent and others (as further amended,
varied, novated, supplemented, superseded or extended from time to time, the “Credit
Agreement”), certain lenders (together the “Original Lenders”) have granted certain facilities
to the Current Borrowers and certain other entities which may accede or may have acceded to
the Credit Agreement as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured note indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of
Schedule 1 as current senior secured note guarantors (the “Current Senior Secured Note
Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal paying agent,
transfer agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Note Indenture”), the Issuers have issued
senior secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount of EUR
450,000,000 (the “Euro Secured Notes” and together with the US Secured Notes the “Senior
Secured Notes”) to certain noteholders.

- 2 -

 

	(C)	 	The Pledgor has entered into the Existing Account Pledge Agreement (as defined below).
	 
	(D)	 	Pursuant to an amendment No. 3 and incremental term loan assumption agreement relating to the
Credit Agreement dated 30 September 2010 between, inter alia, the Current Borrowers, the
Current Guarantors, Credit Suisse AG, Cayman Islands branch (formerly Credit Suisse, Cayman
Islands branch) as administrative agent and others (the “Amendment No. 3 and Incremental Term
Loan Assumption Agreement”) the Credit Agreement has been amended to, inter alia, increase the
incremental term facilities from an amount of USD 1,550,000,000 to an amount of USD
2,770,000,000.
	 
	(E)	 	Pursuant to a secured note indenture dated 15 October 2010 between, inter alia, RGHL Escrow I
LLC, RGHL Escrow I Inc., and RGHL Escrow Issuer (Luxembourg) I S.A. as escrow issuers (the
“Escrow Issuers”), The Bank of New York Mellon as indenture trustee, principal paying agent,
transfer agent, registrar and collateral agent, The Bank of New York Mellon, London Branch as
paying agent and Wilmington Trust (London) Limited as additional collateral agent (as amended,
varied, novated, supplemented, superseded or extended from time to time, the “New Secured Note
Indenture”), the Escrow Issuers have issued secured notes due 2019 in the aggregate principal
amount of USD 1,500,000,000 in escrow (the “New Secured Notes”). The Escrow Issuers have
merged with and into the Issuers, with each of the Issuers surviving the applicable mergers
and assuming by operation of law the obligations of the applicable Escrow Issuers with respect
to the New Secured Note Indenture and the New Secured Notes. Certain affiliates of the Issuers
listed in Schedule 0Part 4Schedule 0Part 4 have acceded to the New Secured Note Indenture as new secured
note guarantors (the “Current New Secured Note Guarantors”).
	 
	(F)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges existing by
operation of the general business conditions (Allgemeine Geschäftsbedingungen) of the
respective Account Bank (as defined below) and the pledges arising under the Existing Account
Pledge Agreements (as defined below)) over its Accounts (as defined below) as security for the
Pledgee’s claims against the Grantors (as defined below) (or any of them) in respect of the
Obligations (as defined below).
	 
	(G)	 	The security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for the Secured Parties (as defined below) pursuant to a first lien intercreditor
agreement dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder Agreement (as
defined below)) between, inter alia, the Collateral Agent, the Indenture Trustee, the
Administrative Agent and the Grantors (each as defined below) and others (as amended, varied,
novated, supplemented, superseded or extended from time to time, the “First Lien Intercreditor
Agreement”).

- 3 -

 

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the credit institutions administering the Accounts and “Account
Bank” means any of them.
	 
	 	 	“Accounts” means all bank accounts (including without limitation giro accounts and
accounts for saving deposits (Spareinlagen), time deposits (Termineinlagen) or call money
deposits (Tagesgeldeinlagen)) which the Pledgor holds at present or may at any time
hereafter open with any credit institution in the Federal Republic of Germany (including
without limitation the accounts listed in Schedule 2 (List of Accounts) and any sub-account
(Unterkonto), renewal, redesignation or replacement thereof, and “Account” means any of
them.
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its
business address at Eleven Madison Avenue, New York, NY 10010, United States of America in
its capacity as administrative agent under the Credit Agreement and any successor appointed
as administrative agent under the Credit Agreement.
	 
	 	 	“Amendment No.1” means the amendment dated 21 January 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement
as of such date, the Administrative Agent and others.
	 
	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January
2010 relating to the First Lien Intercreditor Agreement made among (amongst others) The Bank
of New York Mellon, Wilmington Trust (London) Limited, Credit Suisse AG and Reynolds Group
Holdings Limited pursuant to which Wilmington Trust (London) Limited was appointed as
additional collateral agent and became party to the First Lien Intercreditor Agreement.
	 
	 	 	“Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 4 May 2010 relating to the Credit Agreement
between, inter alia, the borrowers and the guarantors under the Credit Agreement as of such
date, the Administrative Agent and others.
	 
	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.
	 
	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A., Citibank
International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets Deutschland AG
& Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any of the Lender’s
or the Administrative Agent’s affiliates (at the time the cash management services
arrangement is entered into) provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as cash management bank.

- 4 -

 

	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management Bank
to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Note Documents and the
New Secured Note Documents.
	 
	 	 	“Enforcement Event” shall mean an Event of Default.
	 
	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit
Agreement and/or the Senior Secured Note Indenture and/or the New Secured Note Indenture.
	 
	 	 	“Existing Account Pledge Agreements” means

	 	(a)	 	the account pledge agreement dated 4 March 2010 (as amended by
a confirmation and amendment agreement dated 27 August 2010) entered into
between SIG Austria Holding GmbH as pledgor and Wilmington Trust (London)
Limited as collateral agent and as pledgee and others as pledgees (the
“Existing Account Pledge Agreement”); and
	 
	 	(b)	 	confirmation and amendment agreement dated 27 August 2010 and
entered into between, inter alios, SIG Austria Holding GmbH as pledgor and
Wilmington Trust (London) Limited as collateral agent relating to an account
pledge agreement dated 4 March 2010 and entered into between SIG Austria
Holding GmbH as pledgor and Wilmington Trust (London) Limited as collateral
agent and other as pledgees.

	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11
May 2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007,
as amended and restated on 5 November 2009 and as further amended and restated on 5 November
2010) between, inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group
Holdings Limited (now Reynolds Group Holdings Limited), Beverage Packaging Holdings
(Luxembourg) II S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse
AG (formerly Credit Suisse) as security trustee and others.
	 
	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Note Guarantors and the
New Secured Note Guarantors and any person that has granted a security interest to the
Collateral Agent and/or the Secured Parties in respect of the obligations of the Loan
Parties, the Issuers, the Senior Secured Note Guarantors and the New Secured Note Guarantors
under the Credit Documents and “Grantor” means any of them.
	 
	 	 	“Grantors’ Agent” shall mean Reynolds Group Holdings Limited or any other person
appointed as agent of the Grantors in accordance with the Principal Finance Documents.
	 
	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).

- 5 -

 

	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or
the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who
has entered into a hedging agreement for the purpose of hedging interest rate liabilities
and/or any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.
	 
	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement
relating to incremental facilities of up to USD 750,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one or more
Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders pursuant to
which one or more Incremental Term Lenders make available Incremental Term Loan Commitments
and/or one or more Incremental Revolving Credit Lenders make available Incremental Revolving
Credit Commitments respectively.
	 
	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.
	 
	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.
	 
	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.
	 
	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.
	 
	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as
indenture trustee under the Senior Secured Note Indenture and any successor appointed as
indenture trustee under the Senior Secured Notes Indenture.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the
Existing Intercreditor Agreement, in each case as amended, novated, supplemented, restated,
or modified from time to time.
	 
	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.
	 
	 	 	“Lenders” shall mean the Original Lenders and any entity which may become a lender
under the Credit Agreement in the future and “Lender” means any of them.
	 
	 	 	“Loan Documents” shall mean the Credit Agreement, the Amendment No.1, the Amendment No.
1 and Joinder Agreement, the Amendment No. 2 and Incremental Term Loan Assumption
Agreement, the Amendment No. 3 and Incremental Term Loan Assumption Agreement, any borrowing
subsidiary agreement and/or guarantor joinder agreement relating to the Credit Agreement,
any letter of credit or bank

- 6 -

 

	 	 	guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management Bank relating to Cash Management Services,
each Local Facility Agreement and any other document that may be entered into pursuant to
any of the foregoing in relation to the Credit Agreement.
	 
	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which
may accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of
them.
	 
	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II
S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l. and the Borrowers) by a Local
Facility Provider and “Local Facility” means any of them.
	 
	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.
	 
	 	 	“Local Facility Provider” means HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG, Commerzbank
Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of
America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co.,
Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of
America, N.A., provided in each case it has become a party to, or by execution of an
additional bank secured party acknowledgment has agreed to be bound by the terms of, the
First Lien Intercreditor Agreement in its capacity as local facility provider.
	 
	 	 	“New Secured Note Documents” shall mean the New Secured Note Indenture, the New Secured Note
Guarantees, the New Secured Notes, the Intercreditor Arrangements, any supplemental
indenture, any security document relating to the New Secured Notes and/or the New Secured
Note Indenture and any other document that may be entered into pursuant to any of the
foregoing.
	 
	 	 	“New Secured Note Guarantees” shall mean the guarantees of the obligations of the Issuers
under the New Secured Notes and the New Secured Note Indenture by the New Secured Note
Guarantors.
	 
	 	 	“New Secured Note Guarantors” means the Current New Secured Note Guarantors and any
entity which may accede to the New Secured Note Indenture as additional guarantor.
	 
	 	 	“New Secured Note Holders” shall mean the holders from time to time of the New Secured
Notes.
	 
	 	 	“New Secured Note Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity
as indenture trustee under the New Secured Note Indenture and any successor appointed as
indenture trustee under the New Secured Note Indenture.
	 
	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity

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	 	 	whatsoever) of each Grantor to the Pledgee under each or any of the Credit Documents
(including, but not limited to, the Parallel Obligations), including with respect to all
costs, charges and expenses incurred by the Pledgee in connection with the protection,
preservation or enforcement of its rights under the Credit Documents or any other document
evidencing or securing any such liabilities. The Obligations shall further include any
obligation based on unjust enrichment (ungerechtfertigte Bereicherung) or tort (Delikt).
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to the sums owed by such Grantor to the other Secured Parties (or any of them) under the
Credit Documents.
	 
	 	 	“Pledge” has the meanings given to such term in Clause 2.1.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note Indenture,
the New Secured Note Indenture and the First Lien Intercreditor Agreement.
	 
	 	 	“Promissory Note” shall mean any promissory note executed and delivered by a Borrower
upon the request of a Lender evidencing the amount of principal owed by such Borrower to
such Lender under the Credit Agreement.
	 
	 	 	“Secured Parties” shall mean the Lenders (including in their capacity as issuing bank(s)
and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties, the
Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification obligation
undertaken by any Grantor under any Credit Document, the Senior Secured Note Holders, the
New Secured Note Holders, the Indenture Trustee, the New Secured Note Indenture Trustee, the
Collateral Agent, the Local Facility Providers and the Cash Management Banks.
	 
	 	 	“Senior Secured Note Documents” shall mean the Senior Secured Note Indenture, the
Senior Secured Note Guarantees, the Senior Secured Notes, the Intercreditor Arrangements,
any supplemental indenture, any security document relating to the Senior Secured Notes
and/or the Senior Secured Note Indenture and any other document that may be entered into
pursuant to any of the foregoing.
	 
	 	 	“Senior Secured Note Guarantees” shall mean the guarantees of the obligations of the Issuers
under the Senior Secured Notes and the Senior Secured Note Indenture by the Senior Secured
Note Guarantors.
	 
	 	 	“Senior Secured Note Guarantors” means the Current Senior Secured Note Guarantors and
any entity which may accede to the Senior Secured Note Indenture as additional guarantor.
	 
	 	 	“Senior Secured Note Holders” shall mean the holders from time to time of the Senior
Secured Notes.
	 
	 	 	“Stamp Duty Sensitive Document” shall mean (a) any original of any Credit Document and
(b) any signed document (including email, PDF, TIF and other comparable formats) that
constitutes a deed (Urkunde) within the meaning of section 15 of the Austrian Stamp Duty Act
(as interpreted by the Austrian tax authorities),

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	 	 	whether documenting or confirming the entering into of the relevant transaction
(rechtserzeugende Urkunde) or documenting that the relevant transaction has been entered
into (rechtsbezeugende Urkunde), or a substitute deed (Ersatzurkunde) within the meaning of
section 15 of the Austrian Stamp Duty Act (as interpreted by the Austrian tax authorities),
including, without limitation, any notarized copy, any certified copy and any written
minutes recording the transactions (Rechtsgeschäfte) contemplated by, or referenced in, any
Credit Document.
	 
	 	 	“Stamp Duty Guidelines” means the stamp duty guidelines set out in Schedule 5 (Stamp
Duty Guidelines).
	 
	1.2	 	Construction
	 
	 	 	In this Agreement:

	 	(a)	 	Capitalised terms used in this Agreement (or in any notice given under this
Agreement) but not defined therein shall have the meanings ascribed thereto in the
First Lien Intercreditor Agreement; and
	 
	 	(b)	 	any reference in this Agreement to a “Clause” or a “Schedule” shall, subject to
any contrary indication, be construed as a reference to a Clause or a Schedule hereof.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	1.4	 	The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this Agreement
are on the basis of authority conferred under the Principal Finance Documents to which the
Collateral Agent is a party, and on directions given in accordance with the Principal Finance
Documents. In so acting, the Collateral Agent shall have, subject to the terms of the
Principal Finance Documents, the protections, immunities, rights, indemnities and benefits
conferred on the collateral agent under the Principal Finance Documents.
	 
	1.5	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the other Secured Parties in accordance with Section 2.02(a) of the
First Lien Intercreditor Agreement. It is further acknowledged that the Collateral Agent may
assume that any and all instructions received by it from the other Secured Parties (acting in
accordance with the Principal Finance Documents) under this Agreement are reasonable, and that
any question as to the reasonableness or otherwise of such instructions shall be determined as
between the other Secured Parties (or any one or more representatives of the Secured Parties
acting in accordance with the Principal Finance Documents) and the Pledgor.

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

	 	(a)	 	all rights and claims in respect of present and future cash deposits (Guthaben)
(including without limitation saving deposits (Spareinlagen), time deposits
(Termineinlagen) (including fixed deposits (Festgeldguthaben) and termination monies
(Kündigungsgelder)) and call money deposits (Tagesgeldeinlagen) (including deposits for
overnight money, tom/next money, spot/next money and money until further notice (Geld b
..a. w.)) standing from time to time to the credit of the Accounts, including all claims
to interest payable;
	 
	 	(b)	 	in respect of each Account maintained as a giro account (Girokonto) at present
or in the future, (i) all claims in respect of present and future credit balances
(positive Salden), (ii) all claims in respect of present and future credit entries
(gutgeschriebene Beträge), (iii) all claims to interest payable and (iv) all other
present and future monetary rights and claims arising under or in connection with the
respective giro agreement (Girovertrag) (including without limitation all claims to the
grant of a credit entry (Gutschriftanspruch)); and
	 
	 	(c)	 	in respect of each Account maintained as a current account (Kontokorrentkonto)
at present or in the future, all present and future rights and claims arising under or
in connection with the respective current account agreement

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	 	 	 	(Kontokorrentabrede) (including without limitation all claims to determination and
acknowledgement of the current account balance (Anspruch auf Saldofeststellung und
-anerkennung), all claims to present and future current account balances
(Saldoforderungen) including the causal final balance (kausaler Schlusssaldo) and
the right to terminate the current account relationship (Kündigung des
Kontokorrents)).

	 	 	(the “Pledge”).
	 
	2.2	 	The Pledgee hereby accepts the Pledge.
	 
	2.3	 	The Pledge is in addition, and without prejudice, to any other security the Secured Parties
may now or hereafter hold in respect of the Obligations.
	 
	3.	 	PURPOSE OF THE PLEDGE
	 
	 	 	The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction
of any and all Obligations. The Pledge shall also cover any future extension of the
Obligations and the Pledgor herewith expressly agrees that the provisions of Section 1210
para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to this
Agreement.
	 
	4.	 	NOTICE OF PLEDGE
	 
	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but
not later than within twenty business days after the date of this Agreement, and, in relation
to any Account opened after the date of this Agreement, within ten business days after such
new Account has been opened, notify each Account Bank and any other relevant third party of
the Pledge by delivering a notification substantially in the form set out in Schedule 3 (Form
of Notice of Pledge) by registered mail (Einschreiben mit Rückschein). The Pledgor shall
provide the Collateral Agent with a copy of each such notification and of the corresponding
return receipt (Rückschein). In addition, the Pledgor shall use all reasonable efforts to
procure that each Account Bank promptly acknowledges receipt of the respective notification,
and acceptance of the terms thereof, to the Collateral Agent and to the Pledgor.
	 
	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 and, in the case
of future Accounts, Clause 8.3, the Pledgor hereby authorises the Collateral Agent and
releases it for this purpose from the restrictions of self-dealing under Section 181 of the
German Civil Code to notify each Account Bank and any other relevant third party on its behalf
of this Agreement and the Pledge constituted hereunder by delivering a notification
substantially in the form set out in Schedule 3 (Form of Notice of Pledge), or in such
substantially similar form as the Collateral Agent (acting on behalf of the Secured Parties)
deems appropriate, provided that the Collateral Agent may only make use of this authorisation
if the Pledgor has not

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	 	 	complied with the obligations imposed on the Pledgor in Clause 4.1 within 10 business days
of being notified of such failure (with a copy of such notice being sent to Reynolds Group
Holdings Limited) and being requested to comply or if an Enforcement Event has occurred and
is continuing.
	 
	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause 4.1
above whilst an Enforcement Event is not continuing if the Pledgor can prove to the Collateral
Agent (acting on behalf of the Secured Parties) that notifying the relevant Account Bank of
the Pledge created hereunder would not be consistent with, whilst an Enforcement Event is not
continuing, the Pledgor retaining control over and the ability to freely use the balance of
any such Account. The Collateral Agent will not be required to use its discretion but will
take instructions in accordance with the First Lien Intercreditor Agreement whether or not to
agree with the Pledgor’s analysis under this Clause 4.3. For the avoidance of doubt, at the
date of this Agreement the Pledgor agrees that notifying the Account Banks of the Pledge
created hereunder is not inconsistent with the Pledgor retaining control over and the ability
to freely use the balance of any Account existing at the date of this Agreement.
	 
	5.	 	PLEDGOR’S RIGHT OF DISPOSAL
	 
	 	 	The Pledgor may exercise all rights and powers in respect of each Account until the
Collateral Agent gives notice to the contrary to the Account Bank with a copy to the
Pledgor. The Pledgee may give such notice only if an Enforcement Event has occurred and is
continuing.
	 
	6.	 	ENFORCEMENT OF THE PLEDGE
	 
	6.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of the Pledge are met (Pfandreife), in particular, if any of the Obligations has
become due and payable, then in order to enforce the Pledge, the Collateral Agent (acting on
the instructions of the Secured Parties) may on its own behalf at any time thereafter avail
itself of all rights and remedies that a pledgee has against a pledgor under the laws of the
Federal Republic of Germany.
	 
	6.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise
its rights without obtaining an enforceable judgment or other instrument (vollstreckbarer
Titel). The Pledgee shall be entitled to have the Pledge enforced in any manner allowed under
the laws of the Federal Republic of Germany.
	 
	6.3	 	The Pledgee will notify the Pledgor five business days prior to the enforcement of the Pledge
according to Clause 6. No such notification shall be required if (i) the Pledgor has
generally ceased to make payments (Zahlungseinstellung), (ii) an application for the
institution of insolvency proceedings is filed by or against the Pledgor or (iii) the

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	 	 	Pledgee has reasonable grounds to believe that observance of the notice period will
adversely affect the legitimate interests (berechtigte Interessen) of the Pledgee.
	 
	6.4	 	If the Pledgee (acting on instructions of the Secured Parties) should seek to enforce the
Pledge pursuant to Clause 6.1 hereof, the Pledgor shall, at its own expense, render
forthwith all necessary assistance in order to facilitate the prompt realisation of the Pledge
and/or the exercise by the Pledgee of any other right it may have as Pledgee.
	 
	6.5	 	The Pledgee may, in its sole discretion, determine which of several security interests
(created under this or other security agreements) shall be used to satisfy the Obligations.
	 
	6.6	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der Anfechtbarkeit)
and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil
Code.
	 
	6.7	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	6.8	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before,
on or after an enforcement of the Pledge, and as a result of the Pledgor entering into this
Agreement, be entitled to demand indemnification or compensation from a Grantor or any
affiliate of a Grantor or assign any of these claims.
	 
	7.	 	AUSTRIAN LIMITATIONS ON ENFORCEMENT
	 
	 	 	The Pledgor and the Pledgee agree that the Pledge shall not be enforced if and to the extent
that such application would violate mandatory Austrian capital maintenance rules
(Kapitalerhaltungsvorschriften) as amended from time to time and as interpreted by the
Austrian Supreme Court from time to time pursuant to Austrian company law, in particular
Sections 82 et seq of the Austrian Act on Limited Liability Companies (Gesetz über
Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of the Austrian
Stock Corporation Act (Aktiengesetz). This limitation on the enforcement of the Pledge
applies from the date this Agreement enters into force as well as on any date until the
termination date of this Agreement, particularly on the date of a possible enforcement of
the Pledge and the payments thereunder.

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	8.	 	UNDERTAKINGS OF THE PLEDGOR
	 
	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Pledgor undertakes to the Pledgee:
	 
	8.1	 	subject to Clause 4.3 to use all reasonable efforts to procure that each Account Bank
releases any existing lien, including without limitation any pledge existing by operation of
its general business conditions (Allgemeine Geschäftsbedingungen), and waives any right of
set-off and right of retention in respect of the Accounts by countersigning and returning an
acknowledgement of notice of pledge substantially in the form set out in Schedule 3 (Form of
Notice of Pledge) to the Pledgor and the Pledgee;
	 
	8.2	 	to instruct each Account Bank to provide the Pledgee following receipt by the relevant
Account Bank of a notice pursuant to Clause 5 with all information requested by it in
respect of the Accounts and to that extent to release each Account Bank from its obligation to
maintain confidentiality (Bankgeheimnis) by delivering a notice of pledge to the respective
Account Bank in accordance with the requirements set out in Clause 4.1 or, in the case of
any future Account, Clause 8.3. The Pledgor undertakes not to revoke such instruction during
the term of this Agreement, other than in respect of an Account which is closed or disposed of
in accordance with the terms of the Credit Documents;
	 
	8.3	 	to notify the Pledgee without undue delay substantially in the form set out in Schedule 4
(Form of Notification of Future Accounts) of each new bank account opened by the Pledgor with
a credit institution in the Federal Republic of Germany in accordance with Clause 4 above.
For the avoidance of doubt, the Pledgor is aware that any new bank account opened within the
Federal Republic of Germany will become an Account in the meaning of this Agreement upon
notice to the Account Bank and will be subject to the Pledge and the obligations assumed by
the Pledgor hereunder without any further agreement;
	 
	8.4	 	to close any of the Accounts only upon giving 5 business days prior notice to the Pledgee and
provided that the Pledgee has not given a notice pursuant to Clause 5;
	 
	8.5	 	to deliver to the Pledgee, within three months after the end of each calendar year ending
after January 2011, and at any time upon reasonable request of the Pledgee, up-to date account
statement sheets (Kontoauszüge) showing the balance on each of the Accounts, provided that the
Pledgee shall not request such information more than one additional time in any one year prior
to the occurrence of an Enforcement Event that is continuing;
	 
	8.6	 	with regard to any account books (Sparbücher) and any other documents which are necessary to
dispose over (verfügen) any of the Accounts, the Pledgor undertakes to deliver the originals
of such documents to the Pledgee without undue delay if the

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	 	 	Pledgee has given notice pursuant to Clause 5 and to deliver to the Pledgee upon its
reasonable request following such event without undue delay any documents or other
information concerning the Accounts, in particular (but not limited to) the account opening
documents and any agreements between the Account Bank and the Pledgor in relation to the
Accounts;
	 
	8.7	 	not to grant to any third party any rights in respect of the Accounts (keine Und-Konten oder
Oder-Konten oder sonstige Rechte Dritter) (other than those arising under the relevant Account
Bank’s general business conditions (Allgemeine Geschäftsbedingungen) and under the Existing
Account Pledge Agreements) without the prior written consent of the Collateral Agent (as
instructed in accordance with the Principal Finance Documents (such consent not to be
unreasonably withheld by the relevant Secured Parties));
	 
	8.8	 	to inform the Pledgee without undue delay of any attachment (Pfändung) and any third parties
bringing claims in respect of any of the Accounts, such notice to be accompanied by any
documents the Pledgee might need to defend itself against any claim by a third party. In the
case of any attachment (Pfändung) in respect of any of the Accounts, the Pledgor undertakes to
forward to the Pledgee without undue delay a copy of the attachment order
(Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all other documents
necessary for a defence against the attachment. The Pledgor shall inform the attaching
creditor of the Pledge without undue delay;
	 
	8.9	 	except as otherwise agreed pursuant to the Principal Finance Documents, insofar as additional
declarations or actions are necessary for the creation of the Pledge, the Pledgor shall, at
the Collateral Agent’s request (acting on the reasonable instructions of the Secured Parties),
make such declarations and undertake such actions at the Pledgor’s costs and expenses; and
	 
	8.10	 	for the avoidance of doubt, notification and delivery requirements as set out in sub-Clauses
8.3, 8.4, 8.5, 8.6 and 8.8 of this Agreement are deemed to be satisfied if and to the
extent such information has been delivered under the Existing Account Pledge Agreements
provided that such notification or delivery to the Pledgee makes reference to this Agreement
and each Existing Account Pledge Agreement.
	 
	9.	 	DELEGATION
	 
	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement on such terms and conditions
as it shall see fit. The Pledgee shall only remain liable for diligently selecting and
providing initial instructions to such delegate.

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	10.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the
Pledgee, its agents its attorneys and any delegate against any action, proceeding, claims,
losses, liabilities, damages, expenses, demands, taxes, losses and costs which it may
sustain as a consequence of any breach by the Pledgor of the provisions of this Agreement,
the exercise or purported exercise of any of the rights and powers conferred on them by this
Agreement or otherwise relating to the Pledge.
	 
	11.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any action
permitted by this Agreement or (b) any neglect or default in connection with the assets and
rights subject to the security interest created hereunder, save in respect of any loss or
damage which is suffered as a result of wilful misconduct (Vorsatz) or gross negligence
(grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or delegate(s), or (c) the
enforcement or realisation of all or any part of the security interest created hereunder.
	 
	12.	 	DURATION AND INDEPENDENCE
	 
	12.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if the Grantors under the Credit Documents
have only temporarily discharged the Obligations.
	 
	12.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgor pursuant to it.
	 
	12.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Pledgee. None of such other security shall prejudice, or shall be
prejudiced by, or shall be merged in any way with this Agreement.
	 
	12.4	 	Waiving Section 418 of the German Civil Code, the Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.
	 
	13.	 	RELEASE (PFANDFREIGABE)
	 
	13.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practical declare in writing the release of the Pledge (Pfandfreigabe) to

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	 	 	the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that
upon full and complete satisfaction of the Obligations the Pledge, due to its accessory
nature (Akzessorietät), ceases to exist by operation of German mandatory law.
	 
	13.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any of
the other Grantors to secure the Obligations (the “Security”), which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert), exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of the Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) may determine so as to reduce the
realisable value of the Security to the Limit.
	 
	13.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement) will as
soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to
the Pledgor in accordance with, and to the extent required by, the Intercreditor Arrangements.
	 
	14.	 	PARTIAL INVALIDITY; WAIVER
	 
	14.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction (including Austrian law, in
particular Austrian capital maintenance rules), such provision shall as to such jurisdiction,
be ineffective to the extent necessary without affecting or impairing the validity, legality
and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced
with such valid, legal or enforceable provision which comes as close as possible to the
original intent of the parties and the invalid, illegal or unenforceable provision. Should a
gap (Regelungslücke) become evident in this Agreement, such gap shall, without affecting or
impairing the validity, legality and enforceability of the remaining provisions hereof, be
deemed to be filled in with such provision which comes as close as possible to the original
intent of the parties.
	 
	14.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, any right or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right or remedy prevent any further or other exercise thereof or the exercise of any
other right or remedy. The rights and remedies provided hereunder are cumulative and not
exclusive of any rights or remedies provided by law.
	 
	15.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 15 shall be made in
writing.

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	16.	 	AUSTRIAN STAMP DUTY
	 
	16.1	 	The parties to this Agreement (each a “Party” and together the “Parties”) shall perform their
obligations under or in connection with the Agreement exclusively at the Place of Performance
(as defined below), but in no event at a place in Austria and the performance of any
obligations or liability under or in connection with the Agreement within the Republic of
Austria shall not constitute discharge or performance of such obligation or liability. For the
purposes of the above, “Place of Performance” means: (i) in relation to any payment under or
in connection with the Agreement, the place at which such payment is to be made pursuant to
the Credit Documents; and (ii) in relation to any other obligation or liability under or in
connection with the Agreement, the premises of the Administrative Agent or the Indenture
Trustee (as the case may be) in New York or any other place outside of Austria as the
Administrative Agent or the Indenture Trustee (as the case may be) may specify from time to
time. Any payment made under or in connection with the Agreement shall be made from and to an
account outside of Austria.
	 
	16.2	 	No Party shall bring or send to, or otherwise produce in, Austria a Stamp Duty Sensitive
Document or communicate in writing other than in compliance with the Stamp Duty Guidelines, in
each case other than in the event that: (i) it does not cause a liability of a Party to pay
stamp duty in the Republic of Austria; (ii) a Party wishes to enforce any of its rights under
or in connection with a Credit Document in any form of proceedings in the Republic of Austria
and is only able to do so by bringing or sending to, or otherwise producing in, Austria a
Stamp Duty Sensitive Document and it would not be sufficient for that Party to bring or send
to, or otherwise produce in, Austria a document that is not a Stamp Duty Sensitive Document
(e.g. a simple/uncertified copy (i.e. a copy which is not an original, notarised or certified
copy) of the relevant Stamp Duty Sensitive Document) for the purposes of such enforcement; in
furtherance of the foregoing, no Party shall (A) object to the introduction into evidence of
an uncertified copy of any Stamp Duty Sensitive Document or raise a defence to any action or
to the exercise of any remedy on the basis of an original or certified copy of any Stamp Duty
Sensitive Document not having been introduced into evidence, unless such uncertified copy
actually introduced into evidence does not accurately reflect the content of the original
document and (B) if such Party is a party to proceedings before an Austrian court or
authority, contest the authenticity (Echtheit) of an uncertified copy of any such Stamp Duty
Sensitive Document, unless such uncertified copy actually introduced into evidence does not
accurately reflect the content of the original document; or (iii) a Party is required by law,
governmental body, court, authority or agency pursuant to any legal requirement (whether for
the purposes of initiating, prosecuting, enforcing or executing any claim or remedy or
enforcing any judgment or otherwise) to bring or send a Stamp Duty Sensitive Document into, or
otherwise produce a Stamp Duty Sensitive Document in, the Republic of Austria.

- 18 -

 

	16.3	 	The Pledgor shall indemnify the Administrative Agent, each Lender, each Issuing Bank, the
Indenture Trustee and the Collateral Agent against any cost, loss or liability in respect of
Austrian stamp duty unless such cost, loss or liability is incurred as a result of the
Administrative Agent, a Lender, an Issuing Bank, the Indenture Trustee or the Collateral Agent
breaching any obligations under this Clause 16, in which case the breaching party shall be
liable for payment of such stamp duty.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 

	For the Pledgor:	 	c/o SIG Combibloc Holding GmbH
	 
	 	 	 	 
	 

	 	Address:
	 	Rurstraße 58
	 

	 	 	 	52441 Linnich
	 

	 	 	 	Germany
	 
	 	 	 	 
	 

	 	Fax:
	 	+41 52674 6556
	 
	 	 	 	 
	 

	 	Attention:
	 	Daniel Petitpierre
	 
	 	 	 	 
	 

	 	Email:
	 	Daniel.Petitpierre@sig.biz

For the Pledgor with a copy to:

	 	 	 	 	 

	 

	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	Suite 2502
	 

	 	 	 	2 Park Street
	 

	 	 	 	Sydney NSW 2000
	 

	 	 	 	Australia
	 
	 	 	 	 
	 

	 	Fax:
	 	+64 2 9268 6693
	 
	 	 	 	 
	 

	 	Email:
	 	helen.golding@rankgroup.co.nz
	 
	 	 	 	 
	 

	 	Attention:
	 	Helen Golding

- 19 -

 

	 	 	 	 	 

	For the Collateral Agent:	 	Wilmington Trust (London) Limited
	 
	 	 	 	 
	 

	 	Address:
	 	Fifth Floor
	 

	 	 	 	6 Broad Street Place
	 

	 	 	 	London, EC2M 7JH
	 

	 	 	 	United Kingdom
	 
	 	 	 	 
	 

	 	Fax:
	 	+44 (0)20 7614 1122
	 
	 	 	 	 
	 

	 	Attention:
	 	Elaine Lockhart

	17.2	 	Any party hereto may change its address or fax number for notices and other communications
hereunder by notice to the other parties hereto. As agreed to in writing in accordance with
the First Lien Intercreditor Agreement, notices and other communications hereunder may also be
delivered by e-mail to the e-mail address of a representative of the applicable party to this
Agreement provided from time to time by such party.
	 
	17.3	 	All notices and other communications given to any party in connection with this Agreement in
accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by fax or on the date
five business days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Clause 17 or
in accordance with the latest unrevoked direction from such party given in accordance with
this Clause 17.
	 
	17.4	 	Any notice or other communication under or in connection with this Agreement shall be in the
English language or, if in any other language, accompanied by a translation into English. In
the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	17.5	 	No communication (including fax, electronic message or communication in any other written
form) under or in connection with the Credit Documents shall be made to or from an address
located inside of the Republic of Austria.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee however,
shall also be entitled to take action against the Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Pledgor

 - 20 -

 

	 	 	in any one or more
jurisdictions shall not preclude the taking of proceedings in any other jurisdiction (whether
concurrently or not) if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of signed
signature page(s), transmitted by means of telecommunication (telekommunikative Übermittlung)
by fax or attached as an electronic photocopy (pdf., tif., etc.) to an e-mail.
	 
	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
19.1 above, they will transmit the signed signature page(s) of this Agreement to attention
of Ms Isabel van Bremen or Ms Julia Eggert
(isabel.vanbremen@cliffordchance.com or
julia.eggert@cliffordchance.com, fax: +49 69 7199 4000) (each a “Recipient”). The Agreement
will be considered concluded once any of the Recipients has actually received the signed
signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement and at
the time of the receipt of the last outstanding signature page(s).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

- 21 -

 

SIGNATURE PAGE

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

SIG Austria Holding GmbH

as Pledgor

	 	 	 	 	 	 	 	 	 

	By:

	/s/ Cindi Lefari
	 	By:
	/s/ Mark Dunkley	 	 
	 

	Name: Cindi Lefari
	 	 	Name: Mark Dunkley	 	 
	 

	Title: Authorised Signatory
	 	 	Title: Authorised Signatory	 	 

	 	 	 	 	 
	 	Wilmington Trust (London) Limited

as Collateral Agent and Pledgee

 	 
	 	By:  	/s/ Elaine Lockhart
 	 
	 	 	Name:  	Elaine Lockhart 	 
	 	 	Title:  	 	 
	 

- 22 -

 

SCHEDULE 1

PART 1

LIST OF CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

PART 2

LIST OF CURRENT GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

- 23 -

 

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

- 24 -

 

SIG Finance (Luxembourg) S.à r.l. (in liquidation)

Closure Systems International (Luxembourg) S.à r.l.

Reynolds Consumer Products (Luxembourg) S.à r.l.

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

Reynolds Group Issuer (Luxembourg) S.A.

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

- 25 -

 

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

- 26 -

 

Ultra Pac, Inc.

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 27 -

 

PART 3

LIST OF CURRENT SENIOR SECURED NOTE GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

- 28 -

 

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

SIG Finance (Luxembourg) S.à r.l. (in liquidation)

Closure Systems International (Luxembourg) S.à r.l.

Reynolds Consumer Products (Luxembourg) S.à r.l.

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

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

- 29 -

 

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

- 30 -

 

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

- 31 -

 

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 4

LIST OF CURRENT NEW SECURED NOTE GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

- 32 -

 

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

SIG Finance (Luxembourg) S.à r.l. (in liquidation)

Closure Systems International (Luxembourg) S.à r.l.

Reynolds Consumer Products (Luxembourg) S.à r.l.

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

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

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

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

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

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

- 33 -

 

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Inc.

Reynolds Group Holdings Inc.

Reynolds Packaging Machinery Inc.

Closure Systems International Holdings Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

- 34 -

 

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics, Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

- 35 -

 

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 36 -

 

SCHEDULE 2

LIST OF ACCOUNTS

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

	 	SWIFT:

DEUTDEDDXXX

IBAN:

DE[____________]
	 	Deutsche Bank AG,

Königsallee 45/47,

40189 Düsseldorf,

Germany
	 	Current
	 	Euro

- 37 -

 

SCHEDULE 3

FORM OF NOTICE OF PLEDGE

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

[Letterhead of Pledgor]

	 	 	 

	Absender/From:

	 	[Pledgor]
	 
	 	 
	An/To:

	 	[Account Bank]
	 
	 	 
	Datum/Date:

	 	[l]

	 	 	 

	Verpfändungsanzeige

	 	Notice of Pledge
	 
	 	 
	Betrifft: Konto Nr. [l]

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

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

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

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

- 38 -

 

	 	 	 

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

	 	Agreement 1 has been
confirmed and amended to
the effect that, inter
alia, it also secures
the increase of existing
facilities which are
already secured by the
Account Pledge Agreement
1. A copy of the
Confirmation and
Amendment Agreement was
attached to our letters.
	 
	 	 
	Hiermit zeigen wir Ihnen an, dass wir gemäß
Ziffer 2.1des hier in Kopie beigefügten
Kontenverpfändungsvertrags vom [l] (der
“Kontenverpfändungsvertrag 2”) alle
Rechte und Ansprüche bezüglich des o. g. Kontos
und aller sonstigen bei Ihnen geführten Konten
(die “Konten”) (inklusive aller
Unterkonten, etwaiger Neueröffnungen,
Verlängerungen, Umbenennung und Festgeldkonten) zu
Gunsten von [Collateral Agent] (der
“Sicherheitentreuhänder”) verpfändet
haben.

	 	We hereby give you
notice that pursuant to
Clause 2.1 of a
account pledge agreement
dated [l] (the “Account
Pledge Agreement 2”), a
copy of which is
attached hereto, we have
pledged in favour of
[Collateral Agent] (the
“Collateral Agent”) all
of our rights and claims
in respect of the above
account and all other
accounts maintained with
you from time to time
(the “Accounts”)
(including all
sub-accounts thereof,
renewals, replacements,
redesignations and
related fixed deposit
accounts thereof).
	 
	 	 
	Die Verpfändung umfasst insbesondere alle
Ansprüche auf gegenwärtige und zukünftige Guthaben
(einschließlich Spareinlagen, Termineinlagen,
Festgeldeinlagen und Tagesgeldeinlagen) und
positive Salden sowie alle darauf anfallenden
Zinsen.

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

	 	Until notice to the
contrary from the
Collateral Agent to be
served on you as account
bank, we may continue to
operate the Accounts and
in particular may
dispose over the amounts
standing to the credit
thereof. Upon receipt of
such aforesaid notice to
the contrary, you as
account bank shall not
allow any dispositions
by us of the Accounts
and of the amounts
standing to the credit
thereof.
	 
	 	 
	Wir verzichten hiermit in bezug auf alle bei Ihnen
geführten Konten zu Gunsten des
Sicherheitentreuhänders auf unser Recht
auf Vertraulichkeit (Bankgeheimnis) und
beauftragen und ermächtigen Sie hiermit, nachdem
Sie die o.g Nachricht vom
Sicherheitentreuhänder erhalten haben,
dem Sicherheitentreuhänder auf sein
Verlangen jede gewünschte Information im Hinblick
auf solche Konten zu geben.

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

- 39 -

 

	 	 	 

	Diese Verpfändungsanzeige unterliegt deutschem
Recht.

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

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

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

	 
	 	 
	Mit freundlichen Grüßen

	 	Yours faithfully

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 40 -

 

[Letterhead of Account Bank]

	 	 	 

	Absender/From:

	 	[Account Bank]
	 
	An/ To:

	 	[Collateral Agent]

und/and

[SIG Combibloc Holding GmbH]
	 
	Datum/ Date:

	 	[l]

	 	 	 

	Bestätigung des Empfangs einer
Verpfändungsanzeige

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

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

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

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

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

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

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

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

- 41 -

 

	 	 	 

	Dieses Schreiben unterliegt
deutschem Recht.

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

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

	 	Yours faithfully

[Account Bank]

 

([Name des Unterzeichners/name of signatory])

- 42 -

 

SCHEDULE 4

FORM OF NOTIFICATION OF FUTURE ACCOUNTS

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

	 	 	 

	From:

	 	[Pledgor]
	 
	 	 
	To:

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

	 	[Date of Notification]
	 
	 	 
	Re:

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

Dear Sirs,

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

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

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

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

- 43 -

 

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

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

	 	 	 	 	 
	 	[Pledgor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Managing Director (Geschäftsführer) 	 

- 44 -

 

	 	 	 	 	 

SCHEDULE 5

STAMP DUTY GUIDELINES

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

- 45 -

 

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

- 46 -

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"}]]