Document:

exv4w371

EXHIBIT 4.371

SIG COMBIBLOC GROUP AG

as Security Grantor

and

THE BANK OF NEW YORK MELLON

as Collateral Agent

 

CONFIRMATION AND AMENDMENT AGREEMENT

(Bestätigungs- und Änderungsvertrag)

relating to a security agreement entered

in connection with a multi- currency term

and revolving credit agreement dated 5

November 2009, a senior secured notes

indenture in respect of senior secured

notes due 2016 in the aggregate principal

amount of USD 1,125,000,000 dated 5

November 2009, a senior secured notes

indenture in respect of secured notes due

2019 in the aggregate principal amount of

USD 1,500,000,000 dated 15 October 2010

and a secured notes indenture in respect

of secured notes due 2021 in the

aggregate principal amount of USD

1,000,000,000 dated 1 February 2011

 

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	 	3
	2.
	 	Confirmation and Amendments	 	4
	3.
	 	Continuity and further Assurance	 	6
	4.
	 	Partial Invalidity	 	7
	5.
	 	Amendments	 	7
	6.
	 	Applicable law; Jurisdiction	 	7
	7.
	 	Conclusion of the Agreement (Vertragsschluss)	 	7

Schedule 1 List of Current Borrowers, Current Guarantors, Current Senior Secured Notes
Guarantors, Current October 2010 Secured Notes Guarantors and Original February 2011

	 	 	 	 	 

	Secured Notes Guarantors
	 	 	9	 
	Part 1 The Current Borrowers
	 	 	9	 
	Part 2 The Current Guarantors
	 	 	9	 
	Part 3 The Current Senior Secured Notes Guarantors
	 	 	14	 
	Part IV List of Current October 2010 Secured Notes Guarantors
	 	 	19	 
	Part V List of Original February 2011 Secured Notes Guarantors
	 	 	24	 

 

This CONFIRMATION AND AMENDMENT AGREEMENT (the “Agreement”) is made on 9 February 2011

BETWEEN:

	(1)	 	SIG COMBIBLOC GROUP AG, registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.004.149-2 (which, by operation of Swiss law, took
over all assets and liabilities of SIG Finanz AG due to the merger between SIG Combibloc Group
AG and SIG Finanz AG, such merger being effective as of June 15, 2010) (the “Security
Grantor”); and
	 
	(2)	 	THE BANK OF NEW YORK MELLON, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America in its capacity as collateral agent for the Secured
Parties (as defined below) under the First Lien Intercreditor Agreement (as defined below)
(the “Collateral Agent”).

WHEREAS:

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

- 1 -

 

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

- 2 -

 

	 	 	“Amendment No. 4 and Incremental Term Loan Assumption Agreement”) the Original Credit
Agreement has been amended and restated (the “Amended Credit Agreement”) to, inter alia,
include new incremental term facilities (the “Amendments”).
	 
	(G)	 	It has been agreed in the Security Agreement (as defined below) that any reference to the
“Credit Agreement” is a reference to the Original Credit Agreement as amended, varied,
novated, supplemented, superseded or extended from time to time, including pursuant to the
Amendment No. 4 and Incremental Term Loan Assumption Agreement, and that any reference to the
Senior Secured Notes Documents is a reference to the Senior Secured Notes Documents as
amended, varied, novated, supplemented, superseded or extended from time to time, including
the February 2011 Secured Notes Indenture. The Security Grantor has agreed to enter into this
Agreement and to confirm as a matter of utmost precaution (höchst vorsorglich) the security
created pursuant to the Security Agreement (as defined below) in order to ensure that the
Security Agreement continues to secure the Obligations (as defined in the Security Agreement)
and extend to all Obligations (as defined in the Amended Security Agreement) of the Grantors
(as defined in the Amended Security Agreement) under or in connection with the Amendment No. 4
and Incremental Term Loan Assumption Agreement and the Amended Credit Agreement.

NOW IT IS HEREBY AGREED as follows:

Definitions and Language

Definitions

	 	 	In this Agreement:
	 
	 	 	“Amended Security Agreement” means the Security Agreement as amended by this Agreement.
	 
	 	 	“IP Assignment Agreement” and/or “Security Agreement” means:

	 	 	 	the IP assignment agreement under German law dated 2 December 2009 and entered into
between SIG Finanz AG (now assumed by SIG Combibloc Group AG due to the merger with
SIG Finanz AG effective June 15, 2010) as assignor and The Bank of New York Mellon as
Collateral Agent (as confirmed and amended pursuant to amendment and confirmation
agreements dated 4 May 2010, 16 November 2010 and 1 February 2011).

Construction

- 3 -

 

Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall, subject to
any contrary indication, be construed as a reference to a Clause, a sub-Clause or a Schedule
in this Agreement.

To the extent the word “note” or “Note” is used in any other documents in relation to this
Agreement, it shall be construed as if it were a reference to the word “notes” or “Notes” as
defined and used in this Agreement.

Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall, subject to
any contrary indication, be construed as a reference to a Clause, a sub-Clause or a Schedule
in this Agreement.

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.

This Agreement amends the Security Agreement on the terms set forth herein, and, for the purposes
of interpretation, is hereby incorporated into the Security Agreement as of the date hereof
and shall form a part thereof.

In this Agreement capitalised terms not otherwise defined herein shall have the meaning
attributed thereto (including in the recitals) in the Security Agreement.

Confirmation and Amendments

The Collateral Agent and the Security Grantor hereby agree that

The current wording of recital (A) of the Security Agreement entered into between
the Collateral Agent and the Security Grantor shall be deleted and replaced by the
following wording:

	 	“(A)	 	 Pursuant to a multi-currency term and revolving credit agreement dated 5
November 2009 (as amended and/or restated by the Amendment No. 1 and Joinder Agreement
(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 original borrowers (the “Original Borrowers”), the
parties listed in Part 2 of Schedule 1 hereto as original guarantors (the “Original
Guarantors”), Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman
Islands Branch) as administrative agent and others

- 4 -

 

	 	 	 	(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 Original Borrowers and certain other entities
which may accede or may have acceded to the Credit Agreement as additional
borrowers.”

The following wording shall be inserted as recital (F) of the Security Agreement
entered into between the Collateral Agent and the Security Grantor:

	 	 	 	“(F) Pursuant to an amendment No. 4 and incremental term loan assumption agreement
dated 9 February 2011 relating to the Original Credit Agreement between, inter alia,
the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Islands
Branch (formerly Credit Suisse, Cayman Islands Branch) as administrative agent and
others (the “Amendment No. 4 and Incremental Term Loan Assumption Agreement”) the
Original Credit Agreement has been amended and restated (the “Amended Credit
Agreement”) to, inter alia, include new incremental term facilities (the
“Amendments”).

The following wording shall be inserted as recital (G) of the Security Agreement
entered into between the Collateral Agent and the Security Grantor:

	 	 	 	“(G) The security created by or pursuant to this Agreement is to be held and
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”).”

Clause 1.1 of the Security Agreement entered into between the Collateral Agent and the
Security Grantor shall be amended by:

adding the words “the Amendment No. 4 and Incremental Term Loan Assumption
Agreement”, after the words “Amendment No. 3 and Incremental Term Loan
Assumption Agreement” in the definition of “Loan Documents” in the Security
Agreement.

- 5 -

 

The Collateral Agent and the Security Grantor hereby agree that any reference in the Security
Agreement to which they are a party to the term “Obligations” shall be read and construed as
reference to the Obligations as amended by this Agreement.

The Collateral Agent and the Security Grantor hereby agree that the Security Agreement shall
continue to secure the Obligations as amended by this Agreement.

The Collateral Agent and the Security Grantor hereby confirm, in respect of the Security
Agreement to which they are a party, that any reference in such Security Agreement to the term
“Credit Agreement” shall be read and construed as a reference to the Original Credit Agreement
as amended, restated, varied, novated, supplemented, superseded or extended from time to time,
including pursuant to the Amendment No. 4 and Incremental Assumption Term Loan Agreement.

The Collateral Agent and the Security Grantor confirm that the obligations secured under the
Security Agreement shall include the prompt and complete satisfaction of any and all
Obligations (as defined in the Amended Security Agreement) (present and future, actual and
contingent) which are (or are expressed to be) or become owing by the Grantors (or any of
them) to the Secured Parties (or any of them) under or in connection with the Amended Credit
Agreement, and the other Credit Documents (as such term is defined in the Amended Security
Agreement in accordance with Clause 2.1 above) (including, but not limited to the
Amendments).

Continuity and further Assurance

The Collateral Agent and the Security Grantor confirm and agree that (i) save as amended by this
Agreement, all provisions of the Security Agreement shall remain unchanged, (ii) the validity
and effectiveness of the provisions of the Security Agreement shall remain unaffected by this
Agreement, to the extent not amended by this Agreement (iii) the validity and effectiveness of
the security interests created under the Security Agreement shall not be affected by this
Agreement; and (iv) such security interests shall continue to secure the Obligations (as
defined in the Amended Security Agreement). For the avoidance of doubt, the provisions in the
IP Assignment Agreement relating to the limitations on enforcement of the security granted
thereunder and the application of proceeds of an enforcement of such security shall not be
affected by the amendments pursuant to this Agreement.

The Security Grantor shall, at the reasonable request of the Security Agent and at the Security
Grantors’ expense, do all such acts and things necessary or desirable to give effect to the
amendments effected or to be effected pursuant to this Agreement.

- 6 -

 

The Collateral Agent and the Security Grantor agree that this Agreement shall constitute a
“Security Document” for the purposes of the First Lien Intercreditor Agreement (and for no
other purpose) and that, all rights, duties, privileges, protections and benefits of the
Collateral Agent set forth in the Amended Security Agreement are hereby incorporated by
reference.

Partial Invalidity

	 	 	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 replaced with a 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 with such provision as comes as close as possible
to the original intent of the parties.

Amendments

	 	 	Changes and amendments to this Agreement including this Clause 5 shall be made in writing.

Applicable law; Jurisdiction

This Agreement is governed by the laws of the Federal Republic of Germany.

The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the courts in Frankfurt am Main. The Collateral Agent, however, shall also
be entitled to take action against the Security Grantor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Security Grantor 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.

Conclusion of the Agreement (Vertragsschluss)

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.

- 7 -

 

If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause 7.1
above, they will transmit the signed signature page(s) of this Agreement to the attention of
Isabel van Bremen or 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).

For the purposes of this Clause 7 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.

- 8 -

 

SCHEDULE 1

LIST OF CURRENT BORROWERS, CURRENT GUARANTORS,

CURRENT SENIOR SECURED NOTES GUARANTORS, CURRENT

OCTOBER 2010 SECURED NOTES GUARANTORS AND ORIGINAL

FEBRUARY 2011 SECURED NOTES GUARANTORS

PART 1

THE 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

THE CURRENT GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

 

 

     Closure Systems International (Brazil) Sistemas de Vedação Ltda

     CSI Latin American Holdings Corporation

     Closure Systems International (Canada) Limited

     Evergreen Packaging Canada Limited

     Reynolds Food Packaging Canada Inc.

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

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     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

10

 

     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.

     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.

11

 

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

12

 

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

13

 

     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

PART 3

THE CURRENT SENIOR SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda

14

 

     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

15

 

     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.

     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.

16

 

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

17

 

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

18

 

     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

PART IV

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co. KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda

19

 

     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

20

 

     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.

     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.

21

 

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

22

 

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

23

 

     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

PART V

LIST OF ORIGINAL FEBRUARY 2011 SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     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

24

 

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

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

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

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

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

25

 

     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 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.

26

 

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

27

 

     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

28

 

SIGNATURE PAGE

THIS AGREEMENT has been entered into on the date stated at the beginning by:

The Security Grantor

SIG COMBIBLOC GROUP AG

	 	 	 	 	 

	By:
	 	/s/ Karen Mower
	 	 
	 

	 	 

Name: Karen Mower
	 	 
	 

	 	Title: Attorney	 	 

The Collateral Agent

THE BANK OF NEW YORK MELLON

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Catherine F. Donohue
 	 
	 	 	Name:  	Catherine F. Donohue 	 
	 	 	Title:  	Vice President 	 
	 

29exv4w372

EXHIBIT 4.372

AMENDMENT AGREEMENT NO. 4

dated 9 February 2011

for

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY) KFT.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

FLOATING CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010,

16 NOVEMBER 2010 AND 1 FEBRUARY 2011
 

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

 

 

THIS AMENDMENT AGREEMENT (the “Agreement”) is made on 9 February 2011

BETWEEN:

	(1)	 	Closure Systems International Holdings (Hungary) Vagyonkezelő Korlátolt Felelősségű Társaság,
a limited liability company incorporated under the laws of Hungary, having its registered
office as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court acting as court of registration under registration
number Cg. 07-09-015084, as chargor under this Agreement (hereinafter referred to as the
“Chargor”);
	 
	 	 	and
	 
	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);
	 
	 	 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party” means any of
them, as the context may require.

RECITALS:

	(A)	 	The Parties hereby declare that the Floating Charge Agreement (as defined below) was
originally concluded on 29 January 2010 between the Chargee and the Chargor, pursuant to both
(i) a credit agreement dated 5 November 2009 (as subsequently amended) between among others
Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems
International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv
Corporation, Closure Systems International BV, the other borrowers party thereto, the lenders
from time to time parties thereto, and Credit Suisse AG (formerly known as Credit Suisse) as
administrative agent (the “Credit Agreement”) and (ii) an indenture dated 5 November 2009
between, among others, Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank
of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as
modified, amended or supplemented from time to time (the “2009 Indenture”), and the Floating
Charge Agreement was amended on 16 November 2010 pursuant to an indenture dated 15 October
2010 between, among others, RGHL US Escrow I Inc., RGHL US Escrow I LLC and RGHL Escrow Issuer
(Luxembourg) I S.A. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited as
additional collateral agent (the “2010 Indenture”) and the Floating Charge Agreement was
further amended on 1 February 2011 pursuant to an indenture dated 1 February 2011 between,
among others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer
(Luxembourg) S.A. as issuers, The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent, registrar and collateral agent and Wilmington Trust

- 1 -

 

	 	 	(London) Limited as additional collateral agent (the “February 2011 Secured Notes
Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Secured Notes Indenture certain parties have entered into a first lien
intercreditor agreement dated 5 November 2009 between, among others, The Bank of New York
Mellon as trustee under the 2009 Indenture, Credit Suisse AG as representative under the
Credit Agreement and each grantor that are parties thereto, as subsequently amended by
Amendment No. 1 and Joinder Agreement dated 21 January 2010, which added the Collateral Agent
as a collateral agent under the First Lien Intercreditor Agreement (the “First Lien
Intercreditor Agreement”).
	 
	(C)	 	Pursuant to an amendment no. 4 and incremental term loan assumption agreement (the
“Amendment and Incremental Assumption Agreement”) dated on or about the date of this Agreement
and entered into between, among others Reynolds Group Holdings Inc., Reynolds Consumer
Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG & Co
KGaA, SIG Austria Holding GmbH, Pactiv Corporation, Closure Systems International B.V., the
other borrowers party thereto, the lenders from time to time party thereto and Credit Suisse
AG (formerly known as Credit Suisse) as administrative agent, the Credit Agreement has been
amended and restated in the form of Annex A thereto (the “Amended and Restated Credit
Agreement”).
	 
	(D)	 	As a consequence of the Amendment and Incremental Assumption Agreement and the
Amended and Restated Credit Agreement, the Parties agreed to amend the Floating Charge
Agreement and enter into this Agreement.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Floating Charge Agreement” means the floating charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010 and 1
February 2011 between the Chargor and the Chargee.
	 
	1.2	 	Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Floating Charge Agreement has the same meaning in
this Agreement and in any notice given under this Agreement.
	 
	 	(b)	 	The principles of construction set out in the Floating Charge Agreement shall
have effect as if set out in this Agreement.

- 2 -

 

	1.3	 	Clauses
	 
	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.
	 
	2.	 	AMENDMENTS TO THE FLOATING CHARGE AGREEMENT
	 
	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Floating Charge Agreement in alphabetical order:
	 
	 	 	 	““February 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 4 and incremental term loan assumption agreement dated 9 February 2011 entered
into between, among others, Reynolds Group Holdings Inc., Reynolds Consumer
Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro
Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation and Closure
Systems International B.V. as borrowers, the Guarantors from time to time party
thereto (as defined therein), the Lenders from time to time party thereto (as
defined therein) and the Administrative Agent (as defined therein), as amended,
novated, supplemented, restated or modified from time to time, the text of which is
attached as Part VII of Schedule 3 (Incremental Assumption and Amendment Agreement)
to this Agreement.”
	 
	 	(b)	 	Schedule 3 of the Floating Charge Agreement shall be supplemented with Schedule
A (Part VII of Schedule 3 (February 2011 Incremental Assumption and Amendment
Agreement)) of this Agreement.

	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	Continuing obligations
	 
	 	 	The provisions of the Floating Charge Agreement shall, save as amended by this
Agreement, continue in full force and effect.
	 
	3.2	 	Further assurance
	 
	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.
	 
	4.	 	INCORPORATION OF TERMS
	 
	 	 	The provisions of clause 7 (Remedies and waivers), clause 8 (Severability), clause 12
(Notices) and clause 14 (Jurisdiction) of the Floating Charge Agreement shall be
incorporated into this Agreement as if set out in full in this Agreement and as if
references in those clauses to “this Agreement” are references to this Agreement.

- 3 -

 

	5.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by Hungarian law.
	 
	6.	 	RIGHTS OF THE COLLATERAL AGENT
	 
	 	 	Notwithstanding anything contained herein, the Parties agree that this Agreement shall
be deemed a “Security Document” for the purposes of and as defined in the First Lien
Intercreditor Agreement (and for no other purpose) and accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Floating Charge Agreement and the First Lien Intercreditor Agreement shall continue in full
force and effect and shall apply to this Agreement as if set out in full herein.

[Certification of the Public Notary and the related powers of attorney inserted]

- 4 -

 

SCHEDULE A

“SCHEDULE 3

Part VII

February 2011 Incremental Assumption and Amendment Agreement”

(To Be Inserted)

- 5 -

 

SIGNATURES

Closure Systems International Holdings (Hungary) Kft. - as Chargor

By:

Wilmington Trust (London) Limited - as Chargee

By:

- 6 -

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