Document:

exv4w135

EXHIBIT 4.135

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.

PLEDGE OF QUOTAS AGREEMENT by

CLOSURE SYSTEMS INTERNATIONAL B.V.

For value received, the undersigned, CLOSURE SYSTEMS INTERNATIONAL B.V., a private limited
liability company (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the
laws of The Netherlands, having its official seat in Amsterdam and its registered office address at
Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands and registered in the commercial register
of Amsterdam under number 34291082, represented in this act by Freddy Fachler in his/her condition
of Attorney-in-fact with sufficient powers for this act, hereinafter referred as PLEDGOR, and
Wilmington Trust (London) Limited as collateral agent for the Secured Parties under the Loan
Documents, represented in this act by ELAINE LOCKHART in his/her condition of
Attorney-in-fact with sufficient powers for this act, hereinafter referred as PLEDGEE, have agreed
to execute this Pledge of Quotas Agreement that will be regulated by the following clauses:

     WHEREAS, the PLEDGOR is a party to the First Lien Intercreditor Agreement; and

     WHEREAS, to induce the Secured Parties as to make advances and to provide other financial
accommodation under the Loan Documents, the

 

 

PLEDGOR has agreed to pledge in favour of the PLEDGEE
all 10 quotas of ¢5,800 colones each, Costa Rican currency, of CSI CLOSURE SYSTEMS MANUFACTURING DE
CENTRO AMERICA S.R.L., corporate identification number 3-102-226363, domiciled as at the date of
this Pledge of Quotas Agreement in San José, Costa Rica, #517, 11th Avenue (the
“CORPORATION”), all of which are represented by certificate number Two, Series A, issued on January
22, 2010, as security for the prompt payment of the Obligations.

          DEFINITIONS:

     “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.

     “Collateral Agent” means Wilmington Trust (London) Limited in its capacity as collateral agent
as appointed under the Joinder Agreement and its successors, permitted transferees and permitted
assigns in such capacity.

     “Credit Agreement” means the Credit Agreement dated as of 5 November, 2009, among (amongst
others) Reynolds Group Holdings Inc., Closure Systems International Holdings Inc., Closure Systems
International B.V., Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KGaA 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 Pledge of Quotas Agreement” has the meaning given to said term in Clause 2 (a).

     “First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated as of
5 November, 2009, among (amongst others) The Bank of

 

 

New York Mellon, as collateral agent and as
trustee under the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit
Suisse), as administrative agent under the Credit Agreement, and the Loan Parties, as amended,
novated, supplemented, restated or modified from time to time (including by the Joinder Agreement
which added the Collateral Agent as a collateral agent under the First Lien Intercreditor
Agreement).

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

     “Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.

     “Joinder Agreement” means the joinder agreement dated on 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of New York Mellon, Credit Suisse AG and Reynolds Group
Holdings Limited pursuant to which the Collateral Agent is appointed an additional collateral agent
and becomes a party to the First Lien Intercreditor Agreement.

     “Lien” has the meaning it is given in the First Lien Intercreditor Agreement.

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

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

     “Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).

     “Principal Finance Documents” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.

 

 

     “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, together with all costs, charges and expenses incurred by any Secured
Party in connection with the protection, preservation or enforcement of its respective rights under
the Loan Documents or any other document evidencing or securing any such liabilities.

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

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

     “Senior Secured Note Indenture” means the Indenture dated 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.

     This Pledge of Quotas Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Pledge of Quotas Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

     Unless defined in this Pledge of Quotas Agreement or the context otherwise requires, a term
defined in the First Lien Intercreditor Agreement has the same meaning in this Pledge of Quotas
Agreement and in any notice given under this Pledge of Quotas Agreement.

     No obligations shall be included in the definition of “Obligations” to the extent that, if
included, the security interest granted pursuant to this Pledge of Quotas Agreement or any part
thereof would be void as a result of a violation of the prohibition on financial assistance as
contained in Articles 2:98c and 2:207c

 

 

of the Dutch Civil Code or any other applicable financial
assistance rules under any relevant jurisdiction (the “Prohibition”) and all provisions hereof will
be construed accordingly. For the avoidance of doubt, this Pledge of Quotas Agreement will continue
to secure those obligations which, if included in the definition of “Obligations”, would not
constitute a violation of the Prohibition.

     NOW, THEREFORE, intending to be legally bound hereby, the parties agree as follow:

     1) In consideration of the Obligations, the PLEDGOR herewith pledges and delivers to the
PLEDGEE all 10 quotas of ¢5,800 each, representing 100% of the social capital of the CORPORATION.
The PLEDGOR shall promptly record said pledge of quotas in the Registration of Quota holders’ book
of the CORPORATION.

     2) The PLEDGOR hereby represents and warrants to the Secured Parties, as at the date of this
Pledge of Quotas Agreement: (a) That, other than as permitted by the Principal Finance Documents
and except as pledged herein or pursuant to an existing pledge of quota agreement entered into on
February 22, 2008 and which agreement is being released (the “Existing Pledge of Quotas
Agreement”), the PLEDGOR has not sold, assigned, transferred or granted any Lien over the quotas of
the CORPORATION which are the subject of this Pledge of Quotas Agreement in any manner whatsoever
and that the quotas of the CORPORATION, which are the subject of this Pledge of Quotas Agreement,
are pledged herewith free and clear of any and all Liens other than those permitted by the
Principal Finance Documents and the Existing Pledge of Quotas Agreement.

(b) That, subject to the Legal Reservations (as defined in the Credit Agreement) and the Agreed
Security Principles, this Pledge of Quotas Agreement has or will have first-ranking priority over
the quotas of the CORPORATION except for obligations mandatorily preferred by law applying to
companies generally in The Netherlands and Costa Rica and the Existing Pledge of Quotas Agreement.

 

 

(c) That the PLEDGOR has full power and authority to execute and deliver this Pledge of Quotas
Agreement and to pledge the quotas of the CORPORATION hereunder, that subject to the Legal
Reservations (as defined in the Credit Agreement), the obligations expressed to be assumed by the
PLEDGOR under this Pledge of Quotas Agreement constitute the valid and binding obligations of the
PLEDGOR enforceable in accordance with its terms, and that the pledge of the quotas of the
CORPORATION contained herein is not in conflict with any agreement, undertaking or obligation of
the PLEDGOR or instrument binding upon the PLEDGOR to an extent which has, or could reasonably be
expected to have, a Material Adverse Effect (as defined in the Credit Agreement).

     3) The PLEDGEE shall hold the quotas of the CORPORATION as security for the payment of the
Obligations and will not at any time dispose of or encumber the same except as herein provided.
Unless an Enforcement Event has occurred and is continuing, the PLEDGEE shall not be entitled to be
registered as quotaholder in respect of the quotas of the CORPORATION which are the subject of this
Pledge of Quotas Agreement. While the PLEDGEE is the holder of the quotas of the CORPORATION, the
PLEDGEE shall not collect dividends thereon and the PLEDGOR shall have the right to cast any vote
of the same at any meeting of quota holders of the CORPORATION and exercise all rights and powers
in respect of the quotas of the CORPORATION, at which said quotas may be entitled to vote and the
PLEDGOR may be entitled to exercise such rights and powers so long as an Enforcement Event is not
continuing. During the term of this Pledge of Quotas Agreement, and so long as an Enforcement Event
is not continuing, the PLEDGOR shall have full rights to vote said quotas, provided that the
PLEDGOR shall not at any time exercise or refrain
from exercising such rights in a manner which would affect adversely the validity or
enforceability of the security created by this Pledge of Quotas Agreement or cause an Event of
Default to occur and provided further that the PLEDGOR shall be entitled to receive dividends,
interests, other moneys and distributions upstream on the pledged quotas to the extent permitted by
the Principal Finance Documents. The PLEDGEE shall at the expense of the PLEDGOR, retransfer or

 

 

redeliver the quotas of the CORPORATION to the PLEDGOR upon the full payment of the Obligations or
in accordance with Clause 10 below.

     4) Subject to the Agreed Security Principles, the PLEDGOR will pledge, deliver and assign to
the PLEDGEE any future quotas held by it representing stock capital increases of the CORPORATION,
under substantially the same terms and conditions as this Pledge of Quotas Agreement.

     5)(a) If an Enforcement Event has occurred and is continuing, the PLEDGEE will be able to
retain a private broker (corredor jurado), in order for this private broker to sell all the
quotas being pledged, in whole or in part, at a sale and apply the proceeds of any such sale in
accordance with the provisions of the Intercreditor Arrangements.

     5)(b) In the event that the proceeds of any such sale described in (5)(a) are not sufficient
to pay the Obligations, then the PLEDGOR shall remain liable and shall pay the PLEDGEE any such
deficiency until the Obligations are discharged. Any purchaser at any such private sale shall
receive the quotas of the CORPORATION and all rights of redemption or other rights or claims of
the PLEDGOR, all of which are hereby waived.

     5)(c) The base price used for any private sale described in (5)(a) above shall be the
valuation made by an independent appraiser contracted by the PLEDGEE.

     6) This is the entire agreement between the parties hereto and may be changed only by a
written instrument signed by the party against whom any charge is sought to be enforced.

     7) This Pledge of Quotas Agreement shall be governed by, and construed in accordance with,
the laws of Costa Rica and the parties hereby submit to the jurisdiction of the courts of England
or Costa Rica at the election of the PLEDGEE.

 

 

     8) This Pledge of Quotas Agreement shall be binding upon and inure to the benefit of the
parties hereto, their respective heirs, personal representatives, successors, transferees and
assigns.

     9) This Pledge of Quotas Agreement may be executed in any number of counterparts, and this
has the same effect as if the signatures on the counterparts were on a single copy of this Pledge
of Quotas Agreement.

     10) The security constituted by this Pledge of Quotas Agreement shall be released, reassigned
(if applicable) and cancelled: (a) by the PLEDGEE (acting on the instructions of the Applicable
Representative) at the request and cost of the PLEDGOR, upon the Obligations being irrevocably paid
or discharged in full and none of the Secured Parties being under any further actual or contingent
obligation to make advances or provide other financial accommodation to the 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. If the PLEDGOR disposes of any of the quotas of the CORPORATION and
that disposal is permitted by the Principal Finance Documents, such quotas of the CORPORATION
shall, unless an Enforcement Event has occurred and is continuing: (a) be automatically released,
reassigned (if applicable) and cancelled from this Pledge of Quotas Agreement with effect from the
day of such disposal and the PLEDGEE at the written request and cost of the PLEDGOR in accordance
with the Intercreditor Arrangements shall do all such acts which are reasonably requested by the
PLEDGOR in order to release the relevant quotas of the CORPORATION from the security interests
created under this Pledge of Quotas Agreement; or (b) be released, reassigned (if applicable) and
cancelled in accordance with, and to the extent required, by the Intercreditor Arrangements.

     11) Notices and other communications provided for herein shall be given in accordance with and
pursuant to the provisions of the First Lien Intercreditor Agreement.

 

 

     12) None of the PLEDGEE, its nominee(s) or any delegate or receiver shall be liable by reason
of (a) taking any action permitted by this Pledge of Quotas Agreement or (b) any neglect or default
in connection with this Pledge of Quotas Agreement or (c) taking possession of or realising all or
any part of the quotas pledged pursuant to this Pledge of Quotas Agreement, except to the extent
provided in the Principal Finance Documents.

     13) To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement, the
PLEDGOR shall, notwithstanding any release or discharge of all or any part of the security,
indemnify the PLEDGEE, its agents, attorneys, and any delegate and receiver against any action,
proceeding, claims, losses, liabilities, expenses, demands, taxes and costs which it may sustain as
a consequence of any breach by the PLEDGOR of the provisions of this Pledge of Quotas Agreement,
the exercise or purported exercise of any of the rights and powers conferred on them by this Pledge
of Quotas Agreement or otherwise relating to the quotas the subject of this Pledge of Quotas
Agreement.

     14) Subject to Section 4.05 of the First Lien Intercreditor Agreement, each of the PLEDGEE and
any receiver shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Pledge of Quotas 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 PLEDGEE or the receiver itself.

     15) For the avoidance of doubt, the PLEDGOR acknowledges that the PLEDGEE 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. The PLEDGOR acknowledges that the PLEDGEE may assume that
any and all instructions received by it from the Applicable Representative under this Pledge
of Quotas 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)
The PLEDGOR acknowledges and agrees that the PLEDGEE’s actions under this Pledge of Quotas
Agreement are on the basis of authority conferred under the Principal Finance Documents to which
the PLEDGEE is a party, and on directions of the Applicable Representative. In so acting, the
PLEDGEE shall have, subject to the terms of the Principal Finance Documents, the protections,
immunities, rights, indemnities and benefits conferred on a collateral agent under the Principal
Finance Documents.

     IN WITNESS WHEREOF, the PLEDGOR, intending to be legally bound hereby, has executed this
Pledge of Quotas Agreement on January 29, 2010.

 

 

	 	 	 

	EXECUTED on behalf of

CLOSURE SYSTEMS

INTERNATIONAL B.V. by:
	 	 
	 
	 	 
	 

	 	/s/ Freddy Fachler
	 

	 	 
	 

	 	Signature
	 
	 	 
	 

	 	 FREDDY FACHLER
	 

	 	 
	 

	 	Name

 

 

	 	 	 

	EXECUTED on behalf of WILMINGTON

TRUST (LONDON) LIMITED

by:
	 	 
	 
	 	 
	 

	 	/s/ Elaine Lockhart
	 

	 	 
	 

	 	Signature
	 
	 	 
	 

	 	ELAINE LOCKHART
	 

	 	 
	 

	 	Nameexv4w136

			
	
	 	EXHIBIT 4.136 

SIG REINAG AG

as GP Pledgor

and

THE BANK OF NEW YORK MELLON

as Collateral Agent and Pledgee

THE INSTITUTIONS NAMED HEREIN

as Pledgees

 

PARTNERSHIP INTEREST PLEDGE AGREEMENT

relating to the interests in SIG EURO HOLDING AG & Co. KGAA

(Verpfändung Komplementäranteile)

 

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. PLEDGED INTERESTS
	 	 	8	 
	3. PLEDGE
	 	 	8	 
	4. SCOPE OF THE PLEDGES
	 	 	9	 
	5. PURPOSE OF THE PLEDGES
	 	 	11	 
	6. EXERCISE OF MEMBERSHIP RIGHTS
	 	 	11	 
	7. ENFORCEMENT OF THE PLEDGES
	 	 	11	 
	8. SWISS LIMITATIONS
	 	 	14	 
	9. UNDERTAKINGS OF THE PLEDGOR
	 	 	15	 
	10. DELEGATION
	 	 	17	 
	11. INDEMNITY
	 	 	17	 
	12. NO LIABILITY
	 	 	17	 
	13. DURATION AND INDEPENDENCE
	 	 	18	 
	14. RELEASE OF PLEDGE (PFANDFREIGABE)
	 	 	18	 
	15. PARTIAL INVALIDITY; WAIVER
	 	 	19	 
	16. AMENDMENTS
	 	 	19	 
	17. NOTICES AND THEIR LANGUAGE
	 	 	19	 
	18. NOTIFICATION
	 	 	21	 
	19. APPLICABLE LAW, JURISDICTION
	 	 	21	 
	20. CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 	 	21	 
	SCHEDULE 1 LIST OF FINANCIAL INSTITUTIONS, CURRENT BORROWERS, CURRENT
GUARANTORS AND CURRENT SENIOR SECURED NOTE GUARANTORS
	 	 	23	 
	SCHEDULE 2 COPY OF APPROVAL AND CONSENT
	 	 	52	 

- 1 -

 

This PARTNERSHIP INTEREST PLEDGE AGREEMENT (this “Agreement”) is made on 29 January 2010

BETWEEN:

	(1)	 	SIG Reinag AG, a company limited by shares (Aktiengesellschaft) incorporated under the
laws of Switzerland, having its registered office at Laufengasse 18, CH-8212 Neuhausen am
Rheinfall, Switzerland and registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.003.796-7 (the “GP Pledgor” or the “Pledgor”);

	(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 indenture trustee under the Senior
Secured Note Indenture (as defined below) and 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”); and

	(3)	 	the institutions listed in Part 1 of Schedule 1 (List of financial institutions) hereto
in their capacity as lenders, issuing banks, hedge counterparties, administrative agent, local
facility providers, cash management banks under the Credit Documents (as defined below);

(the institutions named in (2) and (3) are hereinafter referred to as the “Original Pledgees”).

WHEREAS:

	(A)	 	Pursuant to a USD 1,155,000,000 and EUR 330,000,000 multi-currency term and revolving
credit agreement dated 5 November 2009 between, inter alia, the parties listed in Part 2 of
Schedule 1 hereto as current borrowers (the “Current Borrowers”), the parties listed in Part 3
of Schedule 1 hereto as current guarantors (the “Current Guarantors”), Credit Suisse AG,
Cayman Island branch (formerly Credit Suisse, Cayman Island branch) as administrative agent
and The Bank of New York Mellon as collateral agent and others (as 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 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 4 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

- 2 -

 

	 	 	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.

	(C)	 	The Pledgor has agreed to grant a pledge over its GP Interests (as defined below) in the
Company (as defined below) as security for the Pledgees’ (as defined below) respective claims
against the Grantors (as defined below) (or any of them) in respect of the Obligations (as
defined below).

	(D)	 	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 between, inter alia, the Collateral Agent,
Wilmington Trust (London) Limited as additional 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”).

	(E)	 	SIG Combibloc Group AG and SIG Austria Holding GmbH as sole shareholders (Aktionäre) of
the Company have approved and consented to the Pledges (as defined below) of the GP Interests
(as defined below) and to a transfer of the GP Interests (as defined below) upon enforcement
of the Pledges (as defined below) in a resolution of the shareholders
(Hauptversammlungsbeschluss) a copy of which is attached hereto as Schedule 2.

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE

	1.1	 	Definitions

	 	 	In this Agreement:
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Island branch, having its business
address at One 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.
	 
	 	 	“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.

- 3 -

 

	 	 	“Cash Management Bank” shall mean Citibank NA, Banco Nacional De Mexico S.A.,
Citibank International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets
Deutschland AG & Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any
of the Lender’s or the Administrative Agent’s affiliates (at the time the cash management
services arrangement is entered into) provided in each case it has become a party to, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, the First Lien Intercreditor Agreement in its capacity as cash management bank.
	 
	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management Bank
to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Company” means SIG Euro Holding AG & Co. KGaA, an association limited by shares
(Kommanditgesellschaft auf Aktien) organised under the laws of the Federal Republic of
Germany having its business address as at the date of this Agreement at Rurstraße 58, 52441
Linnich, Germany and registered in the commercial register (Handelsregister) of the local
court (Amtsgericht) of Düren under HRB 5754.
	 
	 	 	“Credit Documents” shall mean the Loan Documents and the Senior 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.
	 
	 	 	“Existing GP Interests” has the meaning ascribed to such term in sub-Clause 2.1 hereof.
	 
	 	 	“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 and
as amended and restated on 5 November 2009) 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.
	 
	 	 	“Future GP Interests” means the Existing GP Interests of the Pledgor in existence from time
to time (including following a further contribution (Einlage) or an increase of the special
contribution (Sondereinlage) in the capital of the Company (if any)).

- 4 -

 

	 	 	“Future Pledgee” means any entity which may become a pledgee hereunder by way of (i)
transfer of the Pledges by operation of law following the transfer or assignment (including
by way of novation or assumption (Vertragsübernahme)) of any part of the Obligations from
any Original Pledgee or Future Pledgee to such future pledgee and/or (ii) accession to this
Agreement pursuant to sub-Clause 3.3 hereof as pledgee.
	 
	 	 	“Grantors” means the Loan Parties, the Issuers and the Senior 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 and the Senior
Secured Note Guarantors under the Credit Documents and “Grantor” means any of them.
	 
	 	 	“Grantors’ Agent” shall mean Reynolds Group Holdings Limited (formerly known as Rank 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).
	 
	 	 	“GP Interests” means the Existing GP Interests and the Future GP Interests.
	 
	 	 	“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 400,000,000 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.

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	 	 	“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, any borrowing subsidiary agreement and/or
guarantor joinder agreement relating to the Credit Agreement, any letter of credit or bank
guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management Bank relating to Cash Management Services,
each Local Facility Agreement and any other document that may be entered into pursuant to
any of the foregoing in relation to the Credit Agreement.
	 
	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which may
accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of them.
	 
	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II
S.A., Beverage Packaging Holdings (Luxembourg) III S.à.r.l. and the Borrowers) by a Local
Facility Provider and “Local Facility” means any of them.

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	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.
	 
	 	 	“Local Facility Provider” means each of HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG,
Commerzbank Aktiengesellschaft, Bank of America, N.A., Hong Kong and Shanghai Banking
Corporation Ltd., Thailand, provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as local facility provider.
	 
	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity whatsoever) of
each Grantor to the Pledgees (or any of them) under each or any of the Credit Documents
(including, but not limited to the Parallel Obligations), together with all costs, charges
and expenses incurred by any Pledgee in connection with the protection, preservation or
enforcement of its respective 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” and “Pledges” have the meanings given to such terms in sub-Clause 3.1
	 
	 	 	“Pledgees” means the Original Pledgees and the Future Pledgees, and “Pledgee” means any of
them.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior 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
Indenture Trustee, the Collateral Agent, the Local Facility Providers and the Cash
Management Banks.

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	 	 	“Senior Secured Note Documents” shall mean the Senior Secured Note Indenture, the Senior
Secured Note Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, 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.
	 
	1.2	 	Construction
	 
	 	 	In this Agreement:
	 
	1.2.1	 	Capitalised terms used but not defined in this Agreement (or in any notice given under
this Agreement) have the meanings ascribed thereto in the First Lien Intercreditor Agreement;
and
	 
	1.2.2	 	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, sub-Clause or a
Schedule in this Agreement.
	 
	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.
	 
	2.	 	PLEDGED INTERESTS
	 
	2.1	 	The Pledgor is the sole general partner of the Company. The Pledgor’s general partner’s
interests (Komplementäranteile) in the Company in form and substance at the date hereof
correspond to a special contribution (Sondereinlage) in the amount of EUR 1,307,000 (in words:
Euro one million three hundred and seven thousand) (the “Existing GP Interests”).
	 
	2.2	 	The Pledgor is the owner of the Existing GP Interests.

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	3.	 	PLEDGE
	 
	3.1	 	The Pledgor hereby pledges to each of the Pledgees its GP Interests together with all
ancillary rights and claims associated with the GP Interests as more particularly specified in
Clause 4
(each a “Pledge” and together the “Pledges”).
	 
	3.2	 	Each of the Original Pledgees hereby accepts its Pledge for itself.
	 
	3.3	 	The Collateral Agent accepts, as representative without power of attorney (Vertreter ohne
Vertretungsmacht), the respective Pledges for and on behalf of each Future Pledgee. Each
Future Pledgee ratifies and confirms the declarations and acts so made by the Collateral Agent
on its behalf by accepting the transfer or assignment (including by way of novation or
assumption (Vertragsübernahme)) of the Obligations under the Loan Documents (or part of them)
from a Pledgee or the appointment to become a successor as administrative agent under the
Credit Agreement or as indenture trustee under the Senior Secured Note Indenture. Upon such
ratification (Genehmigung) such Future Pledgee becomes a party to this Agreement, it being
understood that any future or conditional claim (zukünftiger oder bedingter Anspruch) of such
Future Pledgee arising under the Loan Documents, or, in case of a successor indenture trustee
arising under the Senior Secured Note Documents shall be secured by the Pledges constituted
hereunder.
	 
	3.4	 	All parties hereby confirm that the validity of the Pledges granted hereunder shall not
be affected by the Collateral Agent acting as representative without power of attorney for
each Future Pledgee.
	 
	3.5	 	The Pledgor herewith authorises the Collateral Agent to notify on its behalf the Pledges
and/or the identity of any Future Pledgee and the new pledges created pursuant to sub-Clause
3.3 above to the Company. Upon request of the Collateral Agent, the Pledgor shall without
undue delay give such notice and provide the Collateral Agent with a copy thereof.
	 
	3.6	 	The validity and effect of each of the Pledges shall be independent from the validity and
the effect of the other Pledges created hereunder. The Pledges to each of the Pledgees shall
be separate and individual pledges ranking pari passu with the other Pledges created
hereunder.
	 
	3.7	 	Each of the Pledges is in addition, and without prejudice, to any other security the
Pledgees may now or hereafter hold in respect of the Obligations.
	 
	3.8	 	For the avoidance of doubt, the parties agree that nothing in this Agreement shall
exclude a transfer of all or part of the Pledges created hereunder by operation of law upon
the transfer or assignment (including by way of novation or assumption (Vertragsübernahme)) of
all or part of the Obligations by any Pledgee to a Future Pledgee.

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	4.	 	SCOPE OF THE PLEDGES
	 
	4.1	 	The Pledges constituted by this Agreement include:
	 
	4.1.1	 	the present and future rights to receive:

	 	(a)	 	profits payable in relation to the GP Interests (Gewinnanspruch), if any
and, in particular but not limited to, any and all rights and claims arising in
connection with the capital accounts (Kapitalkonten) and the private account
(Privatkonto) of the Pledgor, if any (including, but not limited to, interest payable
on any of these accounts);

	 	(b)	 	liquidation proceeds (Liquidationserlöse), consideration for redemption
(Abfindungsansprüche), repaid capital in case of a decrease of the special contribution
(Sondereinlage), any compensation in case of termination (Kündigung) and/or withdrawal
(Ausscheiden) of a partner of the Company, any claim to a distribution-quote
(Auseinandersetzungsanspruch) and all other pecuniary claims (geldwerte Forderungen)
associated with the GP Interests;

	 	(c)	 	compensation for the management (Geschäftsführungstätigkeit) of the
Company, for the assumption of liability (Haftungsübernahme) and for the contribution
(Vermögenseinlage); and

	4.1.2	 	all other rights and benefits attributable to the GP Interests.
	 
	4.2	 	Notwithstanding that the items set out in Clause 4.1 above are pledged hereunder, the
Pledgor shall be entitled to receive and retain the items set out in Clause 4.1 in respect of,
and otherwise deal (in accordance with the provisions of this Agreement and any other
Principal Finance Document) with all items described in Clause 4.1 hereof in respect of the GP
Interests at all times other than any time the Pledgees are entitled to enforce the Pledges
constituted hereunder.
	 
	4.3	 	On the date and during the period in which the Pledgees are entitled, in accordance with
Clause 7 (Enforcement of the Pledges) hereof, to enforce the Pledges (or any part thereof):

	 	(a)	 	all profits paid or payable and any other property received, receivable or
otherwise distributed in respect of or in exchange for the GP Interests;

	 	(b)	 	all profits or other distributions or payments paid or payable in respect
of the GP Interests in connection with the partial or total liquidation or dissolution
of the Company; and

	 	(c)	 	all cash paid, payable or otherwise distributed in respect of the principal
of, or in redemption of, or in exchange for the GP Interests,

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	 	 	shall be forthwith delivered to the Collateral Agent and held as security for and on behalf
of the Pledgees. If such proceeds or property are received by the Pledgor, they shall be
received as trustee for the benefit of the Pledgees and shall be segregated from other
property or funds of the Pledgor and shall be forthwith delivered to the Collateral Agent
for and on behalf of the Pledgees as security in the form so received (with any necessary
endorsement).
	 
	5.	 	PURPOSE OF THE PLEDGES
	 
	 	 	The Pledges hereunder are constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledges 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.
	 
	6.	 	EXERCISE OF MEMBERSHIP RIGHTS
	 
	 	 	The membership rights, including the management (Geschäftsführung) of the Company and the
voting rights, attached to the GP Interests remain with the Pledgor. The Pledgor may
exercise its membership rights in any manner which does not adversely affect the validity or
enforceability of the Pledges or the existence of all or part of the GP Interests other than
through profit payments pursuant to sub-Clause 4.2 above, or cause an Event of Default to
occur. The Pledgor undertakes, unless otherwise permitted by the Principal Finance
Documents, that no resolutions will be passed which would, if passed, constitute a breach of
its obligations under Clause 9 or any other obligation under this Agreement.
	 
	7.	 	ENFORCEMENT OF THE PLEDGES
	 
	7.1	 	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 any of the Pledges are met (Pfandreife), in particular, if any of the
Obligations has become due and payable, then in order to enforce the Pledges (or any of them),
the Collateral Agent may on its own behalf and on behalf of the other Pledgees 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.
	 
	7.2	 	The Collateral Agent may only enforce the Pledges in accordance with Clause 7.1 above in
relation to obligations of any Grantor (provided that this restriction shall not apply to
obligations under the Credit Documents of (i) the Pledgor (v) incurred as Borrower under the
Credit Agreement, (w) incurred as borrower under a Local Facility Agreement, (x) incurred as a
party to and beneficiary under any hedging agreement entered into with an

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	 	 	Hedge Counterparty, (y) owed as cash management obligations to a Cash Management Bank for
Cash Management Services, provided the Pledgor is a beneficiary of the Cash Management
Services causing such cash management obligations or (z) to the extent certain proceeds of
the Senior Secured Notes Indenture have been made available to the Pledgor, up to such
proceeds and (ii) a direct or indirect subsidiary of the Pledgor (the “Pledgor’s
Subsidiary”) (v) incurred as Borrower under the Credit Agreement, (w) incurred as borrower
under a Local Facility Agreement, (x) incurred as a party to and beneficiary under any
hedging agreement entered into with an Hedge Counterparty (y) owed as cash management
obligations to a Cash Management Bank for Cash Management Services, provided the Pledgor’s
Subsidiary is a beneficiary of the Cash Management Services causing such cash management
obligations or (z) to the extent certain proceeds of the Senior Secured Notes Indenture have
been made available to the Pledgor’s Subsidiary, up to such proceeds) after (i) the
Pledgor’s auditors have (y) delivered an audited interim balance sheet of the Pledgor
(valuating the GP Interest at its realisation value) to the Collateral Agent and (z)
determined the existence and extent of the profits available for the payment of a dividend
by the Pledgor in accordance with the relevant provisions of the Swiss Code of Obligations
(the “Auditor’s Determination”) and (ii) the Pledgor’s shareholders have passed for such
dividend payment resolutions for the distribution of dividends (“Dividend Resolution”) in
accordance with the relevant provisions of the Swiss Federal Code of Obligations being in
force at that time. The Pledgor shall deliver the Auditor’s Determination and the Dividend
Resolution within 30 business days after the Collateral Agent has given notice to the
Pledgor of its intention to enforce the Pledges. The Collateral Agent shall only enforce the
Pledges in relation to obligations of any Grantor (provided that this restriction shall not
apply to obligations under the Credit Documents of (i) the Pledgor (v) incurred as Borrower
under the Credit Agreement, (w) incurred as borrower under a Local Facility Agreement, (x)
incurred as a party to and beneficiary under any hedging agreement entered into with an
Hedge Counterparty, (y) owed as cash management obligations to a Cash Management Bank for
Cash Management Services, provided the Pledgor is a beneficiary of the Cash Management
Services causing such cash management obligations or (z) to the extent certain proceeds of
the Senior Secured Notes Indenture have been made available to the Pledgor, up to such
proceeds and (ii) a Pledgor’s Subsidiary (v) incurred as Borrower under the Credit
Agreement, (w) incurred as borrower under a Local Facility Agreement, (x) incurred as a
party to and beneficiary under any hedging agreement entered into with an Hedge Counterparty
(y) owed as cash management obligations to a Cash Management Bank for Cash Management
Services, provided the Pledgor’s Subsidiary is a beneficiary of the Cash Management Services
causing such cash management obligations or (z) to the extent certain proceeds of the Senior
Secured Notes Indenture have been made available to the Pledgor’s Subsidiary, up to such
proceeds) if according to the Auditor’s Determination and the Dividend Resolution the
Pledgor has validly resolved to distribute the profits available for

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	 	 	payment of a dividend, subject to Clause 8 (Swiss Limitations) below, provided that if the
Pledges are not enforced and/or enforceable, the Collateral Agent may subsequently again
seek to enforce the Pledges in accordance with this 7.2 and Clause 8 (Swiss Limitations) at
any time thereafter.
	 
	7.3	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgees are entitled to
exercise their rights without obtaining enforceable judgment or other instrument
(vollstreckbarer Titel). The Pledgees shall be entitled to have the Pledges enforced in any
manner allowed under the laws of the Federal Republic of Germany, and in particular have the
Pledges sold (including at public auction).
	 
	7.4	 	The Pledgor hereby expressly agrees that 5 (five) business days’ prior written notice to
the Pledgor of the place and time of any such sale shall be sufficient and the Pledgees,
acting through the Collateral Agent, shall not be obliged to deliver any further notices
(including, but not limited to the notices set out under Section 1234 of the German Civil
Code) to the Pledgor prior to such sale. The sale may take place at any place in the Federal
Republic of Germany designated by the Collateral Agent, acting for and on behalf of the
Pledgees.
	 
	7.5	 	If the Pledgees, acting through the Collateral Agent, should seek to enforce the Pledges
under sub-Clause 7.1 the Pledgor shall, at its own expense, render forthwith all necessary
assistance in order to facilitate the prompt sale of the GP Interests or any part thereof
and/or the exercise by the Pledgees, acting through the Collateral Agent, of any other right
they may have as Pledgee.
	 
	7.6	 	Whilst the requirements for enforcement under sub-Clause 7.1 are continuing all
subsequent payments of profits or compensation attributable to the GP Interests and all
payments based on similar ancillary rights attributed to the GP Interests may be applied by
the Pledgees, acting through the Collateral Agent, in satisfaction in whole or in part of the
Obligations or treated as additional collateral.
	 
	7.7	 	Even if the requirements for enforcement referred to under sub-Clause 7.1 above are met,
the Pledgees shall not, whether as proxy or otherwise, be entitled to exercise the voting
rights attached to the GP Interests. However, the Pledgor shall, during the continuation of an
event which allows the Pledgees to enforce the Pledges, have the obligations and the Pledgees
shall have the rights set forth in sub-Clause 9.3 below regardless of which resolutions are
intended to be adopted.
	 
	7.8	 	The Pledgees acting through the Collateral Agent may, in their sole discretion, determine
which of several security interests, if applicable, shall be used to satisfy the Obligations.
The Pledgor hereby expressly waives its right pursuant to Section 1230 sentence 2 of the
German Civil Code to limit the realisation of the Pledges and pledges over the partnership

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	 	 	interests or shares in one or more other companies to such number of pledges as are
necessary to satisfy the Obligations and agrees further that the Collateral Agent may decide
to enforce the Pledges in the Company individually at separate proceedings or together with
pledges over partnership interests or shares in one or more other companies at one single
proceeding (Gesamtverwertung).
	 
	7.9	 	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.
	 
	7.10	 	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.
	 
	7.11	 	If the Pledges are 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 Pledgees
shall pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time
before, on or after an enforcement of the Pledges and as a result of the Pledgor entering into
this Agreement, be entitled to demand indemnification or compensation from the Company or any
of the Company’s affiliates or to assign any of these claims.
	 
	8.	 	SWISS LIMITATIONS
	 
	8.1	 	Proceeds of an enforcement of the Pledges shall only be applied towards satisfaction of
the Obligations in relation to obligations of any Grantor (provided that this restriction
shall not apply to obligations under the Credit Documents of (i) the Pledgor (v) incurred as
Borrower under the Credit Agreement, (w) incurred as borrower under a Local Facility
Agreement, (x) incurred as a party to and beneficiary under any hedging agreement entered into
with an Hedge Counterparty, (y) owed as cash management obligations to a Cash Management Bank
for Cash Management Services, provided the Pledgor is a beneficiary of the Cash Management
Services causing such cash management obligations or (z) to the extent certain proceeds of the
Senior Secured Notes Indenture have been made available to the Pledgor, up to such proceeds
and (ii) a Pledgor’s Subsidiary (v) incurred as Borrower under the Credit Agreement, (w)
incurred as borrower under a Local Facility Agreement, (x) incurred as a party to and
beneficiary under any hedging agreement entered into with an Hedge Counterparty (y) owed as
cash management obligations to a Cash Management Bank for Cash Management Services, provided
the Pledgor’s Subsidiary is a beneficiary of the Cash Management Services causing such cash
management obligations or (z) to the extent certain proceeds of the Senior Secured Notes
Indenture have been made available to the Pledgor’s Subsidiary, up to such proceeds) to the
extent that the application of the proceeds of an

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	 	 	enforcement of the Pledges towards such obligations does not constitute a repayment of
capital (Einlagerueckgewaehr), a violation of the legally protected reserves (gesetzlich
geschuetzte Reserven) or a payment of a (constructive) dividend prohibited by the Swiss
Federal Code of Obligations by the Pledgor and in the maximum amount of the Pledgor’s
profits available for the distribution of dividends at the point in time the Pledges are
enforced (being the balance sheet profits and any free reserves made for this purpose, in
each case in accordance with the relevant Swiss law) (the “Available Enforcement Proceeds”).
From the proceeds of an enforcement an amount equal to (i) all proceeds of the enforcement
exceeding the Available Enforcement Proceeds plus (ii) the Tax Payment Amount (as defined
below) shall be returned to the Pledgor;
	 
	8.2	 	for such application of the Available Enforcement Proceeds towards satisfaction of the
Obligations the Pledgor shall procure the passing of a shareholders’ resolutions for the
distribution of dividends in accordance with the relevant provisions of the Swiss Federal Code
of Obligations being in force at that time (currently the profits available for the
distribution of dividends as described above must be determined based on an audited balance
sheet and such shareholders’ resolution must be based on the report from the Pledgor’s
auditors approving the proposed distribution of dividends); and
	 
	8.3	 	deduct from the Available Enforcement Proceeds Swiss Anticipatory Tax (withholding tax)
at the rate of 35% (or such other rate as in force from time to time) and subject to any
applicable double taxation treaty and/or agreements entered into with the Swiss Federal Tax
administration (the “Tax Payment Amount”):

	 	(a)	 	pay the Tax Payment Amount to the Swiss Federal Tax Administration; and

	 	(b)	 	give evidence to the respective beneficiary or beneficiaries (as the same
may be) of such deduction of the Tax Payment Amount in accordance with Clause 2.20
(Taxes) of the Credit Agreement and Clause 4.15 (Witholding Taxes) of the Senior
Secured Note Indenture.

	8.4	 	But if such a deduction is made, the Pledgor shall not be obliged to gross-up pursuant to
Clause 2.20 (Taxes) of the Credit Agreement or Clause 4.15 (Witholding taxes) of the Senior
Secured Notes Indenture to the extent that such gross-up would result in the aggregate of the
amounts of the proceeds of an enforcement of the Pledges applied by the beneficiary or
beneficiaries (as the same may be) towards satisfaction of the Obligations and the Tax Payment
Amount paid to the Swiss Federal Tax administration exceeding the maximum amount of its
profits available for the distribution of dividends.

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	9.	 	UNDERTAKINGS OF THE PLEDGOR
	 
	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Pledgor undertakes to each of the Pledgees:
	 
	9.1	 	to promptly effect any contributions in cash (Bareinlage) or kind (Sacheinlage) to be
made in respect of the GP Interests;
	 
	9.2	 	to promptly notify the Pledgees, by notification in writing to the Collateral Agent, of
any change in the partners, the special contribution (Sondereinlage) of the Company or any
encumbrance over the GP Interests (or part of them). In the case of any attachment (Pfändung)
in respect of any of the GP Interests or any ancillary rights set out in sub-Clause 4.1, the
Pledgor shall promptly notify the Pledgees, by notification in writing to the Collateral
Agent, such notice to be accompanied by any documents the Pledgees might need to defend
themselves against any claim of a third party. In particular, the Pledgor shall promptly
forward to the Collateral Agent a copy of the attachment order (Pfändungsbeschluss), any
transfer order (Überweisungsbeschluss) and all other documents necessary for a defence against
the attachment;
	 
	9.3	 	to promptly inform the Pledgees, by notification in writing to the Collateral Agent, of
all matters concerning the Company of which the Pledgor is aware which would materially
adversely affect the security interest of the Pledgees. In particular, the Pledgor shall
notify the Pledgees, by notification in writing to the Collateral Agent, forthwith of any
shareholders’ meeting at which a shareholders’ resolution is intended to be adopted which
would have a materially adverse effect upon any of the Pledges. The Pledgor shall allow,
during the continuance of any of the circumstances which permit the Pledgees to enforce the
Pledges constituted hereunder in accordance with Clause 7, the Pledgees or, as the case may
be, their proxy or any other person designated by the Pledgees, to participate in all such
shareholders’ meetings of the Company as attendants without power to vote. Subject to the
provision contained in sub-Clause 13.1, the Pledgees’ right to attend the shareholders’
meeting shall lapse immediately upon complete satisfaction and discharge of the Obligations or
following the discontinuance of an Enforcement Event;
	 
	9.4	 	not to allow, without the prior written consent of the Pledgees, acting through the
Collateral Agent (such consent not to be unreasonably withheld), any other party to become a
general partner (Komplementär) of the Company and not to defeat, impair or circumvent in any
way the rights of the Pledgees created hereunder;
	 
	9.5	 	to refrain from any acts or omissions, the purpose or effect of which is or would be the
dilution of the value of the GP Interests or the GP Interests ceasing to exist, unless
permitted by the Pledgees, acting through the Collateral Agent;
	 
	9.6	 	not to change the articles of association with a view to stipulating certain requirements
for

- 16 -

 

	 	 	the effective transfer of the GP Interests in addition to the general legal requirements
pursuant to German corporate law;
	 
	9.7	 	not to amend, or vote for any amendment of, the articles of association of the Company to
the extent that such amendment would materially adversely affect the security interest of the
Pledgees created hereunder and, in particular but without limitation, not to amend, or vote of
any amendment of, the relevant provisions of the articles of association relating to the
distribution of profits and other pecuniary claims attributed to the GP Interests, the capital
accounts and private accounts (Kapitalkonten und Privatkonten) without the prior written
consent of the Pledgees, acting through the Collateral Agent (such consent not to be
unreasonably withheld);
	 
	9.8	 	insofar as additional declarations or actions are necessary for the creation of the
Pledges (or any of them) in favour of the Pledgees (or any of them), the Pledgor shall at the
Collateral Agent’s reasonable request make such declarations and undertake such actions at the
Pledgor’s costs and expenses; and
	 
	9.9	 	upon reasonable request of the Collateral Agent the Pledgor shall confirm or re-execute,
if required in notarial form, on the same terms as contained herein the Pledges created
hereunder in order to ensure that any Future Pledgee shall receive the benefit of such
Pledges.
	 
	10.	 	DELEGATION
	 
	 	 	Subject to the First Lien Intercreditor Agreement, the Collateral Agent 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
Collateral Agent shall only remain liable for diligently selecting and providing initial
instructions to such delegate.
	 
	11.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Agreement, the Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the
Collateral Agent, its agents, its attorneys and any delegate against any action, proceeding,
claims, losses, liabilities, 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 Pledges.

- 17 -

 

	12.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Collateral
Agent, 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 Collateral Agent, 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.
	 
	13.	 	DURATION AND INDEPENDENCE
	 
	13.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledges shall not cease to exist, if any Grantor under the Credit Documents
has only temporarily discharged the Obligations.
	 
	13.2	 	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.
	 
	13.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Pledgees or the Collateral Agent. None of such other security shall
prejudice, or shall be prejudiced by, or shall be merged in any way with this Agreement.
	 
	13.4	 	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.
	 
	14.	 	RELEASE OF PLEDGE (PFANDFREIGABE)
	 
	14.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) and the other Pledgees
will as soon as reasonably practicable declare in writing the release of the Pledges
(Pfandfreigabe) to the Pledgor as a matter of record. For the avoidance of doubt, the parties
are aware that upon full and complete satisfaction of the Obligations the Pledges, due to
their accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.
	 
	14.2	 	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), more than
temporarily exceeds 110% of the Obligations (the “Limit”), the Pledgees shall on demand of
the Pledgor release such part of the Security (Sicherheitenfreigabe) as the Collateral Agent
(as instructed in accordance with the First Lien Intercreditor Agreement) and the

- 18 -

 

	 	 	other Pledgees may in their reasonable discretion determine so as to reduce the realisable
value of the Security to the Limit.
	 
	14.3	 	The Collateral Agent (as instructed in accordance with the First Lien Intercreditor
Agreement) and the other Pledgees, acting through the Collateral Agent, will as soon as
reasonably practicable declare in writing the release of the Pledges (Pfandfreigabe) to the
Pledgor in accordance with, and to the extent required by, the Intercreditor Arrangements.
	 
	15.	 	PARTIAL INVALIDITY; WAIVER
	 
	15.1	 	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 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.
	 
	15.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgees, 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.
	 
	15.3	 	In particular, the Pledges shall not be affected and shall in any event extend to any and
all interests in the Company even if the nominal value of the Existing GP Interests as stated
in Clause 2 are inaccurate or deviate from the actual facts.
	 
	16.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 16 shall be made in writing.
	 
	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:

- 19 -

 

	 	 	 	 	 	 	 

	For the Pledgor:	 	SIG Reinag AG
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	Laufengasse 18, CH-8212

Neuhausen am Rheinfall,

Switzerland	 	 
	 
	 	 	 	 	 	 
	 

	 	Fax:
	 	+41 52 674 65 74	 	 
	 
	 	 	 	 	 	 
	 

	 	Attention:
	 	head of legal corporate	 	 
	 
	 	 	 	 	 	 
	For the Pledgor with a copy to:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:

	 	c/o Rank Group Limited

Level 9

148 Quay Street

PO Box 3515

Auckland 1140

New Zealand

	 	 
	 
	 	 	 	 	 	 
	 

	 	
Telephone:
	 	
+649 366 259	 	 
	 
	 	 	 	 	 	 
	 

	 	Fax:
	 	+649 3666 263	 	 
	 
	 	 	 	 	 	 
	 

	 	Attention:
	 	Helen Golding	 	 
	 
	 	 	 	 	 	 
	For the Pledgees to the Collateral Agent:	 	The Bank of New York Mellon
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	101 Barclay Street, 4E 

New York, N.Y. 10286

The United States of America	 	 
	 
	 	 	 	 	 	 
	 

	 	Telephone:
	 	+212 298 1528	 	 
	 
	 	 	 	 	 	 
	 

	 	Fax:
	 	+212 815 5366	 	 
	 
	 	 	 	 	 	 
	 

	 	Attention:
	 	International Corporate Trust	 	 

	17.2	 	Any party hereto may change its address or fax number for notices and other

- 20 -

 

	 	 	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.
	 
	18.	 	NOTIFICATION
	 
	18.1	 	The Pledgor and the Pledgees hereby give notice of this Agreement and the Pledges of the
rights pursuant to Clause  3 and Clause 4 of the Company.
	 
	18.2	 	The Company hereby acknowledges the notification pursuant to Clause  18.1 above.
	 
	19.	 	APPLICABLE LAW, JURISDICTION
	 
	19.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	19.2	 	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 Pledgees
however, shall also be entitled to take action against the Pledgor in any other court of
competent jurisdiction. Further, the taking of proceedings against the Pledgor in any one or
more jurisdictions shall not preclude the taking of proceedings in any other jurisdiction
(whether concurrently or not) if and to the extent permitted by applicable law.
	 
	20.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	20.1	 	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.

- 21 -

 

	20.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to Clause
20.1 above, they will transmit the signed signature page(s) of this Agreement to the attention
of Mr. Philipp Kropatscheck or Ms Corinna May (Philipp.Kropatscheck@cliffordchance.com or
Corinna.May@cliffordchance.com, fax +69 7199 4000) (each a “Recipient”). The Agreement will be
considered concluded once a Recipient 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).
	 
	20.3	 	For the purposes of this Clause 20 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, each Recipient will have no further duties connected
with its position as Recipient. In particular, each Recipient may assume the conformity to the
authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

- 22 -

 

SCHEDULE 1

LIST OF FINANCIAL INSTITUTIONS, CURRENT BORROWERS, CURRENT

GUARANTORS AND CURRENT SENIOR SECURED NOTE GUARANTORS

PART 1

LIST OF FINANCIAL INSTITUTIONS

1776 CLO I, Ltd

280 Funding I

ABS Loans 2007 Ltd

ACE TEMPEST LIFE REINSURANCE LIMITED

ACE TEMPEST REINSURANCE LTD

Adfam Investment Company LLC

AIG Bank Loan Fund Ltd

AIM FLOATING RATE FUND

ALPSTAR CLO I PUBLIC LTD CO

Altenberg Funding

American Hallmark Insurance Co of TX

AMMC CLO IV LIMITED

AMMC CLO V Ltd

AMMC VII LIMITED

Anchorage Crossover Credit Finance Ltd

Apostle Loomis Sayles Credit Opportunities Fund

Apostle Loomis Sayles Senior Loan Fund

Ares Enhanced Credit Opportunities

- 23 -

 

ARES ENHANCED LOAN INVESTMENT STRATEGY II LTD

Ares Enhanced Loan Investment Strategy III LTD

ARES ENHANCED LOAN INVESTMENT STRATEGY IR LTD

Ares European CLO II BV

ARES IIIR/IVR CLO LTD

ARES IIR CLO LTD.

Ares Institutional Loan Fund B.V.

ARES STRATEGIC INVESTMENT PARTNERS EUROPE B.V.

Ares VIII CLO LTD

Ares VIR CLO Ltd.

Ares VR CLO Ltd.

Ares X CLO Ltd

ARES XI CLO LTD

Ares XII CLO Ltd

Ariel Reinsurance Company Ltd

Atrium III

Atrium IV

ATRIUM V

Australia and New Zealand Banking Group Limited

Avalon Capital Ltd 3

AVOCA CLO III PLC

AVOCA CLO IX LTD

AVOCA CLO VI PLC

- 24 -

 

Babson Capital Loan Partners I LP

Babson CLO Ltd 2004-I

Babson CLO LTD 2004-II

BABSON CLO LTD 2005-I

Babson CLO Ltd 2006 II

Babson CLO Ltd 2006-I

BABSON CLO LTD 2007-I

Babson CLO LTD 2008 — II

Babson CLO LTD. 2005 — III

BABSON LOAN OPPORTUNITY CLO LTD

Banco Nacional De Mexico, S.A., Integrante Del Grupo Financiero Banamex

BARCLAYS BANK PLC

Battalion CLO 2007-I, Ltd.

Belhurst Clo Ltd

Belhurst Clo Ltd

BELL ATLANTIC MASTER TRUST

BILL&MELINDA GATES FOUNDATION

Blackrock Debt Strategies Fund, Inc

Blackrock Defined Opportunity Credit Trust

Blackrock Diversified Income Strategies Fund (DVF)

Blackrock Floating Rate Income Trust

BlackRock Fltng Rate Income Strat Fd Inc

Blackrock Global Investment Series Income Strategies Portfolio

- 25 -

 

BlackRock Limited Duration Income Trust

Blackrock Senior Floating Rate Portfolio

BLACKROCK SENIOR HIGH INCOME FUND INC

Blackrock Senior Income Series

BLACKROCK SENIOR INCOME SERIES II

Blackrock Senior Income Series IV

Blackrock Senior Income Series V Limited

BLACKSTONE SPECIAL FUNDING IRELAND

BLT 18 LLC

BLT 2009-1Ltd

Blue Shield of California

BLUEBAY COF LOAN INVESTMENTS S.A.

Bluebay High Income Loan Investments (Luxembourg) SA

Board of Pensions of the Evangelical Lutheran Church in America

Boeing Company Employee Retirement Plans Master Trust Investment Control Pool

BOS INTERNATIONAL (AUSTRALIA) LTD

Brentwood CLO, LTD

Bridgeport CLO II Ltd.

BRIDGEPORT CLO LTD

Brigade Credit Fund II LP

Brown University

California Public Employees Retirement System

Carlyle Credit Partners Financing I, Ltd.

- 26 -

 

CARLYLE HIGH YIELD PARTNERS IX, Ltd.

Carlyle High Yield Partners VI LTD

Carlyle High Yield Partners VII Ltd

Carlyle High Yield Partners VIII, Ltd

Carlyle High Yield Partners X, Ltd.

Carpenters Pension Trust Fund of St. Louis

Cascade Investment LLC

CASTLE GARDEN FUNDING

CAVALRY CLO I, LTD

CELF Loan Partners B.V

CELF LOAN PARTNERS II PLC

CELF LOAN PARTNERS III PLC

CELF LOW LEVERED PARTNERS PLC

CELF PARTNERSHIP LOAN FUNDING 2008 I

Cent CDO 10 Limited

Cent CDO 12 Limited

Cent CDO 14 Limited

CENT CDO 15 LIMTIED

Cent CDO XI Limited

CENTAURUS LOAN TRUST

Centurion CDO 8 Ltd

CENTURION CDO 9 LIMITED

Centurion CDO VI Ltd.

- 27 -

 

Centurion CDO VII Ltd

CFS WHOLESALE GLOBAL CORPORATE DEBT FUND

CHAMPLAIN CLO LTD

CHAMPLAIN CLO LTD

Chatham Light II CLO Ltd

Chelsea Park CLO Ltd

CHEYNE CREDIT OPPORTUNITIES CDO 1 BV

CHGO Loan Funding LTD

CIM VI LLC

Citibank (China) Co., Ltd.

Citibank, National Association

CITRON INVESTMENTS CORPORATION

CLEAR LAKE CLO LTD

CLYDESDALE CLO 2004 LTD

Clydesdale CLO 2005 Ltd

CLYDESDALE STRATEGIC CLO I LTD

Columbus Park CDO Ltd

Columbusnova CLO IV Ltd 2007 II

Commonwealth International Fixed Interest Fund 6

Commonwealth of Pennsylvania State Employees Retirement System

Confluent 2 Limited

Continental Casualty Company

COOPERATIEVE CENTRALE RAIFFEISEN BOERENLEENBANK B.A.

- 28 -

 

COOPERATIEVE CENTRALE RAIFFEISEN BOERENLEENBANK B.A.

CRATOS CLO I LTD

CREDIT SUISSE AG

CREDIT SUISSE INTERNATIONAL

Credit Suisse Loan Funding LLC

Credit Suisse Syndicated Loan Fund

Credos Floating Rate Fund, LP

CREF Bond Market Account

CSAM Funding I

CSAM Funding II

CSAM FUNDING IV

CUMBERLAND II CLO LTD

Delaware Corporate Bond Fund, a series of Delaware Group Income Funds

Delaware Extended Duration Bond Fund, a series of Delaware Group Income Funds

Delaware Group Advisor Funds-Delaware Diversified Income Fund

Delaware Group Limited Term — Government Funds — Delaware Limited — Term Diversified Income Fund

Delaware VIP Trust-Delaware VIP Diversified Income Series

Deutsche Bank AG New York Branch

DFR Middle Market CLO LTD

DIAMOND LAKE CLO LTD

Diversified Credit Portfolio Ltd

Doral Money Inc

- 29 -

 

DRYDEN IX SENIOR LOAN FUND 2005 PLC

DRYDEN VIII-LEVERAGED LOAN CDO 2005

Dryden X — Euro CLO 2005 PLC

Dryden XI Leveraged Loan CDO 2006

Dryden XIV — Euro CLO 2006 PLC

DRYDEN XV EURO CLO 2006 PLC

Dryden XVI — Leveraged Loan CDO 2006

Dryden XXI Leveraged Loan CDO LLC

DWS Floating Rate Plus Fund

DWS Short Duration Plus Fund

DZ Bank AG

DZ BANK AG DEUTSCHE ZENTRALGENOSSENSCHAFTSBANK

EATON VANCE CDO X PLC

Eaton Vance Floating Rate Income Trust

Eaton Vance Institutional Senior Loan Fund

Eaton Vance Medallion Floating Rate Income Portfolio

Eaton Vance Senior Floating Rate Trust

Eaton Vance Senior Income Trust

Eaton Vance VT Floating Rate Income Fund

Employers Insurance of Wausau

Fairway Loan Funding Company

Faraker Investment PTE Ltd

Fidelity Advisor Series I: Fidelity Advisor Floating Rate High Income Fund

- 30 -

 

FIFTH THIRD BANK

FIRST 2004-II CLO LTD

First Trust Four Corners Senior Floating Rate Income Fund

First Trust Four Corners Senior Floating Rate Income Fund II

FLAGSHIP CLO V

Flagship CLO VI

Flatiron CLO 2007-1 Ltd

Foothill CLO I Ltd

Fore CLO Ltd 2007-1

FORTIS FLEXI III SENIOR SECURED BANK LOAN FUND MOGLIANO

Franklin CLO V, Ltd

Franklin CLO VI, Limited

Franklin Floating Rate Daily Access Fund

FRANKLIN FLOATING RATE MASTER SERIES

Franklin Templeton Limited Duration Income Trust

Franklin Templeton Series II Funds-Franklin Floating Rate II Fund

Future Fund Board of Guardians

Galaxy V CLO Ltd

Galaxy VI CLO, Ltd.

GALAXY VII CLO LTD

Galaxy VIII CLO Ltd

GE Capital Commercial Inc

General Electric Pension Trust

- 31 -

 

GILLESPIE CLO PLC

GLOBAL CREDIT RETURN FUND N V

Global Loan Opportunity Fund BV

GMAM Group Pension Trust I

Golden Knight II CLO, Limited

GOLDENTREE CAPITAL OPPORTUNITIES LP

Goldentree Loan Opportunities III, Limited

Goldentree Loan Opportunities IV, Ltd.

Goldentree Loan Opportunities V Limited

Goldman Sachs Asset Mgmt CLO plc

Goldman Sachs Collective Trust High Yield Implementation Vehicle

Grand Central Asset Trust Cameron I Series

GRAND CENTRAL ASSET TRUST, ANC SERIES

Grayson & Co

GREEN PARK CDO BV

Greenbriar CLO Ltd

GSO CO INVESTMENT PARTNERS LLC

GSO DOMESTIC CAPITAL FUNDING LLC

GSO Royal Holdings CB LLC

Halcyon Loan Investors CLO I Ltd

Halcyon Loan Investors CLO II, Ltd.

HALCYON STR AM LS/SU 2007-3 Ltd.

Halcyon Structured Asset Management CLO I Ltd

- 32 -

 

Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-2 Ltd

Halcyon Structured Asset Management Long Secured/Short Unsecured CLO 2006-I LTD

Halcyon Structured Asset Management Long Secured/Short Unsecured CLO 2007 Ltd

Harbourview CLO 2006-1

Harvest CLO II SA

Harvest CLO III Public Limited Company

Harvest CLO IV PLC

HARVEST CLO V PLC

Highlander Euro CDO BV

HIGHLANDER EURO CDO III B.V.

Hillmark Funding LTD.

Hiscox insurance Company Bermuda Ltd

HISCOX SYNDICATE 33

Hudson Canyon Funding II Ltd

Hyde Park CDO BV

IAM National Pension Fund

Illinois State Board of Investment

ING International II — Senior Bank Loans Euro

ING INVESTMENT CLO II LTD

ING Investment Management CLO I Ltd

ING INVESTMENT MANAGEMENT CLO III, LTD

ING Investment Management CLO IV Ltd

ING INVESTMENT MANAGEMENT CLO V LTD

- 33 -

 

ING Investment Trust Co. Plan Employee Benefit Investment Funds — Senior Loan Fund

ING INVESTORS TRUST — ING T. ROWE PRICE CAPITAL APPRECIATION PORTFOLIO

ING Prime Rate Trust

ING Senior Income Fund By: ING Investments, LLC as its investment manager

James River Insurance Company

Jersey Street CLO Ltd.

JHF II Multi Sector Bond Fund

John Hancock Fund II Floating Rate Income Fund

John Hancock Funds II — Spectrum Income Fund

John Hancock Trust — Capital Appreciation Value Trust

John Hancock Trust-Spectrum Income Trust

JP Morgan Whitefriars Inc

JPMorgan Chase Retirement Plan

JRG Reinsurance Company, Ltd.

Koniginstrasse I S.A.R.L

LAURELIN BV

LAURELIN II B V

LeverageSource V S A.R.L

LIBERTY MUTUAL INSURANCE CO

Libra Global Limited

LIGHTPOINT PAN EUROPEAN CLO 2007 1 PLC

Limerock CLO I

Limerock CLO I

- 34 -

 

LLCP Loan Funding 2007

Loan Funding III LLC

Loan Funding IV LLC

Longhorn Credit Funding LLC

Loomis Sayles Leveraged Senior Loan Fund Ltd

Loomis Sayles Senior Loan Fund LLC

Lord Abbett Invest Trust-Lord Abbett Floating Rate Fund

Lucent Technologies Inc master Pension Trust

MACKAY SHIELDS CORE PLUS ALPHA FUND LTD

MACKAY SHORT DURATION ALPHA FUND

MACQUARIE INCOME OPPORTUNITIES FUND

MACQUARIE MASTER DIVERSIFIED FIXED INTEREST FUND

Madison Park Funding I LTD

MADISON PARK FUNDING III LTD

MADISON PARK FUNDING IV LTD

MADISON PARK FUNDING V LTD

MADISON PARK FUNDING VI LTD

MAINSTAY FLOATING RATE FUND A SERIES OF ECLIPSE FUNDS INC

Mainstay VP Floating Rate Portfolio A Series of Mainstay VP Series Fund

Market Square CLO Ltd.

Marlborough Street CLO, Ltd.

Master Senior Floating Rate Trust

Maxim High Yield Bond Portfolio

- 35 -

 

Mayport CLO Ltd

Meadow Foundation Incorporated

MERCATOR CLO 2 PLC

MERCATOR CLO I PLC

MERCATOR CLO III LIMITED

Merrill Lynch Investment Managers Lp A/C Floating Rate Income Strategies Fund II Inc

MET Investors Series Trust-Pioneer Strategic Income Portfolio

MetLife Bank National Association

METROPOLITAN LIFE INSURANCE CO

MISSOURI STATE EMPLOYEES RETIREMENT SYSTEM

Mizuho Corporate Bank, Ltd.

Momentum Capital Fund, Ltd

Morgan Stanley Investment Management Croton

MORGAN STANLEY INVESTMENT MANAGEMENT GARDA B.V

Morgan Stanley Prime Income Trust

MSIM Peconic Bay Ltd.

Mt Wilson CLO Ltd

Mt. Wilson CLO II, LTD

MUNICIPAL EMPLOYEES ANNUITY AND BENEFIT FUND OF CHICAGO (SYMPHONY)

Muzinich & Co (Ireland) Limited for the sub acct of Extrayield $ Loan Fund

NACM CLO I

NANTUCKET CLO I LTD

Nash Point CLO

- 36 -

 

NATIXIS COF I, LLC

Natixis Loomis Sayles Senior Loan Fund

NAUTIQUE FUNDING LTD

NAVIGARE FUNDING I CLO LTD.

Navigare Funding II CLO, Ltd.

Navigare Funding III CLO, Ltd

Navigator CDO 2005 Ltd

Navigator CDO 2006 Ltd.

NCM GT 2008-1 LLC

NCRAM Loan Trust

NCRAM SENIOR LOAN TRUST 2005

Neptune Finance CCS, LTD.

NEW YORK LIFE INSURANCE & ANNUITY CORP.

New York Life Insurance (Guaranteed Products)

New York Life Insurance Company, GP-Portable Alpha

Nexum Loan SICAV — Nordic Loan Fund II

Nexum Loans SICAV

Nomura Bond & Loan Fund

North Dakota State Investment Board

NORTHWOOD CAPITAL V LTD

Northwoods Capital IV Ltd

Northwoods Capital VI Limited

Northwoods Capital VII, Limited

- 37 -

 

NORTHWOODS CAPITAL VIII LIMITED

Nuveen Diversified Dividend & Income Fund

Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Opportunity Fund

Nuveen Senior Income Fund

Nuveen Tax-Advantage Total Return Strategy Fund

NYLIM FLATIRON CLO 2005-1 LTD

Nylim Flatiron CLO 2006-1 Ltd.

NYLIM INSTITUTIONAL FLOATING RATE FUND L.P

Oak Hill Credit Opportunities Financing, Ltd.

Oak Hill Credit Partners III Limited

Oak Hill Credit Partners IV Ltd

Oak HIll Credit Partners V Limited

OAK HILL EUROPEAN CREDIT PARTNERS I PLC

OAK HILL EUROPEAN CREDIT PARTNERS II PLC

OCA Brigade Credit Fund LLC

Ocean Trails CLO I

Ocean Trails CLO II

OHA Finlandia Credit Fund

OHA Park Avenue CLO I

Olympic Park Ltd

Oppenheimer Master Loan Fund LLC

Oppenheimer Senior Floating Rate Fund

- 38 -

 

OPPIDA INVESTMENTS LTD

Oregon Public Employee Ret Fund

PACIFIC LIFE INSURANCE CO

Penn Series Funds Inc Flexibility Managed Fund

Phoenix Edge Series Fund: Phoenix Multi-Sector Short Term Bond Series

Phoneix Edge Series Fund: Phoenix Strategic Allocation Series

Pimco Cayman Bank Loan Fund

PIMCO LOAN OPPORTUNITIES FUND I LP

PIMCO LOAN OPPORTUNITIES FUND I LP

Pioneer Diversified High Income Trust

Pioneer Floating Rate Fund

PIONEER FLOATING RATE TRUST

PIONEER GLOBAL HIGH YIELD FUND

Pioneer High Yield Fund

Pioneer Strategic Income Fund

Pioneer Strategic Income VCT Portfolio

Portola CLO Ltd

PPM America Inc a/c PPM Monarch Bay Funding LLC

Prudential Bank Loan Fund of the Prudential Trust Company Collective Trust

Putnam Floating Rate Income Fund

PUTNAM High Yield Advantage Fund

PUTNAM HIGH YIELD TRUST

Putnam Variable Trust PVT High Yield Fund

- 39 -

 

Qualcomm Global Trading, Inc.

Race Point III CLO

RACE POINT IV CLO LTD

Red River CLO, Ltd.

Regents Park CDO BV

Republic Loan Funding Ltd

Ridgeworth Funds Seix Floating Rate High Income Fund

RIVERSIDE PARK CLO LTD

Riversource Bond Series, Inc-Riversource Floating Rate Fund

RiverSource Strategic Allocation Series, Inc. — RIVERSOURCE INSTITUTIONAL LEVERAGED LOAN FUND II,
LP

RiverSource Strategic Allocation Series, Inc. — RiverSource Strategic Income Allocation Fund

Rochdale Fixed Income Opportunities Portfolio

San Joaquin County Employees’ Retirement Association

Sapphire Valley CDO I Ltd

Saratoga CLO I Limited

Saratoga CLO I Limited

Schiller Park CLO, LTD

SEARS HOLDINGS PENSION PLAN

SEI Institutional Investment Trust — High Yield Bond Fund (Brigade)

SEI Institutional Investments Trust Enhanced Libor Opportunities Fund

SEI INSTITUTIONAL INVESTMENTS TRUST ENHANCED LIBOR OPPORTUNITIES FUND

SEI INSTITUTIONAL MANAGED TRUST — HIGH YIELD BOND FUND

- 40 -

 

Senior Debt Portfolio

Senior Loan Portfolio

SERVES 2006-1 LTD

Silverado CLO 2006-II Ltd

Southport CLO Ltd

SSS Funding II LLC

St James Park CDO BV

St. James River CLO LTD

State Retirement and Pension System of Maryland

Stellar Performer Global Series W — Global Credit

STICHTING DEPOSITARY APG FIXED INCOME CREDIT POOL

Stichting Pensioenfonds Medische Specialisten

STICHTING PENSIOENFONDS VOOR HUISARTEN

Stone Harbor Leveraged Loan Portfolio

Stone Harbor Libor Total Return Fund

Stone Harbor Sterling Core Plus Bond Fund

Stone Tower Credit Funding I Ltd

Stoney Lane Funding I LTD

Sumitomo Mitsui Banking Corp

Sumitomo Mitsui Banking Corp

Summer Hill Fixed Income AG LLC

SUMMIT LAKE CLO LTD

Sun America Senior Floating Rate Fund Inc

- 41 -

 

Sun Life Assurance Company of Canada

Sunsuper Pooled Superannuation Trust

Symetra Life Insurance Company

T Rowe Price Capital Appreciation Fund

T Rowe Price Institutional Common Trust Fund — T Rowe Price Capital Appreciation Trust

T Rowe Price Institutional Floating Rate Fund

T. Rowe Price Institutional High Yield Fund Inc

Tavitian Foundation Inc

TCW CREDIT OPPORTUNITIES FUND I B LP

TCW Credit Opportunities Fund, L.P.

TCW SENIOR SECURED FLOATING RATE LOAN FUND LP

TCW Senior Secured Loan Fund LP

TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA

TEACHERS RETIREMENT SYSTEM OF LOUISIANA (SHENKMAN-HIGH YIELD ACCOUNT)

Texas Prepaid Higher Education Tuition Board

TFP Royal Issuer LLC

The President and Trustees of Williams College

TIAA-CREF BOND PLUS FUND

TRIBECA PARK CLO LTD

TRS HY FNDS LLC

Trustees of the University of Pennsylvania

TRUSTMARK INSURANCE COMPANY

- 42 -

 

U.A.I. (LUXEMBOURG) INVESTMENT SARL

UBS (UK) Pension and Life Assurance Scheme

UMC Benefit Board Inc

United America Idemnity, LTD

Van Kampen Dynamic Credit Opportunities Fund

VAN KAMPEN SENIOR INCOME TRUST

Van Kampen Senior Loan Fund

VELOCITY CLO LTD

VERMONT PENSION INVESTMENT COMMITTEE

Veronica Atkins Marital Trust

VICTORIA FALLS CLO, LTD

Virginia Retirement System

Virtus Multi-Sector Fixed Income Fund

Virtus Mult-Sector Short Term Bond Fund

Virtus Senior Floating Rate Fund

Vitesse CLO Ltd

WASATCH CLO LTD

WASATCH CLO LTD

Waterfront CLO 2007-1, Ltd

Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Opportunistic
Investment Portfolio

Wellington Trust Company, National Association Multiple Common Trust Funds Trust-Opportunistic
Fixed Income Allocation Portfolio

West Bend Mutual Insurance Company

- 43 -

 

WESTEN ASSET FLOATING RATE HIGH INCOME FUND LLC

WESTERN ASSET LEVERED LOAN OPPORTUNITY FUND LTD

WESTPAC BANKING CORP

WG Horizons CLO I

WHITEHORSE III LTD

Wilmington Trust (London) Limited

Wind River Reinsurance Company, LTD

Windmill CLO I Limited

ZODIAC FUND MORGAN STANLEY US SENIOR LAON FUND

- 44 -

 

PART 2

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.

PART 3

THE CURRENT GUARANTORS

SIG Holdings (UK) Limited (England and Wales)

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Ltd. (Guernsey)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

- 45 -

 

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

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

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

- 46 -

 

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

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

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

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

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

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

Reynolds Consumer Products International B.V. (The Netherlands)

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

- 47 -

 

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

- 48 -

 

PART 4

THE CURRENT SENIOR SECURED NOTE GUARANTORS

SIG Holdings (UK) Limited (England and Wales)

SIG Combibloc Limited (England and Wales)

SIG Euro Holding AG & Co. KGaA (Germany)

SIG Beverages Germany GmbH (Germany)

SIG Combibloc Holding GmbH (Germany)

SIG Vietnam Beteiligungs GmbH (Germany)

SIG Combibloc GmbH (Germany)

SIG Combibloc Systems GmbH (Germany)

SIG Combibloc Zerspanungstechnik GmbH (Germany)

SIG Information Technology GmbH (Germany)

SIG International Services GmbH (Germany)

SIG Asset Holdings Ltd. (Guernsey)

Beverage Packaging Holdings (Luxembourg) I S.A. (Luxembourg)

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

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

Reynolds Group Holdings Limited (New Zealand)

SIG Combibloc Group AG (Switzerland)

SIG Finanz AG (Switzerland)

SIG Technology AG (Switzerland)

SIG allCap AG (Switzerland)

SIG Combibloc (Schweiz) AG (Switzerland)

SIG Schweizerische Industrie-Gesellschaft AG (Switzerland)

- 49 -

 

SIG Combibloc Procurement AG (Switzerland)

SIG Reinag AG (Switzerland)

SIG Combibloc Ltd. (Thailand)

SIG Holding USA Inc. (USA)

SIG Combibloc Inc. (USA)

Reynolds Group Holdings Inc. (USA)

Reynolds Group Issuer Inc. (USA)

Reynolds Group Issuer LLC (USA)

Closure Systems International (Brazil) Sistemas de Vedação Ltda (Brazil)

CSI Latin American Holdings Corporation (BVI)

Closure Systems International (Canada) Limited (Canada)

CSI Closure Systems Manufacturing de Centro America, S.R.L. (Costa Rica)

Closure Systems International (UK) Limited (England and Wales)

Reynolds Consumer Products (UK) Limited (England and Wales)

Reynolds Subco (UK) Limited (England and Wales)

Closure Systems International Holdings (Germany) GmbH (Germany)

Closure Systems International Deutschland GmbH (Germany)

Closure Systems International Holdings (Hungary) Kft. (Hungary)

CSI Hungary Gyártó és Kereskedelmi Kft. (Hungary)

Closure Systems International Holdings (Japan) KK (Japan)

Closure Systems International Japan, Limited (Japan)

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

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

Reynolds Group Issuer (Luxembourg) S.A. (Luxembourg)

Bienes Industriales del Norte S.A. de C.V. (Mexico)

- 50 -

 

CSI en Ensenada, S. de R.L. de C.V. (Mexico)

CSI en Saltillo, S. de R.L. de C.V. (Mexico)

CSI Tecniservicio, S. de R.L. de C.V. (Mexico)

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

Tecnicos de Tapas Innovativas S.A. de C.V. (Mexico)

Closure Systems International B.V. (The Netherlands)

Reynolds Consumer Products International B.V. (The Netherlands)

Closure Systems International Holdings Inc. (Delaware, USA)

Closure Systems International Inc. (Delaware, USA)

Reynolds Packaging Machinery Inc. (Delaware, USA)

Closure Systems Mexico Holdings LLC (Delaware, USA)

CSI Mexico LLC (Delaware, USA)

Southern Plastics, Inc. (Louisiana, USA)

CSI Sales & Technical Services Inc. (Delaware, USA)

Reynolds Consumer Products Holdings Inc. (Delaware, USA)

Bakers Choice Products, Inc. (Delaware, USA)

Reynolds Consumer Products Inc. (Delaware, USA)

Reynolds Foil Inc. (Delaware, USA)

Reynolds Services Inc. (Delaware, USA)

- 51 -

 

SCHEDULE 2

COPY OF APPROVAL AND CONSENT

Information was provided in pdf format only

- 52 -

 

SIGNATURE PAGES

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

SIG Reinag AG

as Pledgor

	 	 	 	 	 	 	 

	 
	By: 	 /s/ Philip West	 	By: 	 /s/ Helen Golding
	 	Name: 	 Philip West	 	 	Name: 	 Helen Golding
	 	Title:	 Authorised Signatory	 	 	Title:	 Authorised Signatory

The Bank of New York Mellon

as Collateral Agent and as Original Pledgee on its own behalf and on behalf of the parties listed
in Part 1 of Schedule 1 hereto under a power of attorney contained in Clause 4.08 of the First Lien
Intercreditor Agreement

	 	 	 	 	 	 	 

	 
	By: 	 /s/ Maskim Genkin	 	By: 	 
	 	Name: 	 Maskim Genkin	 	 	Name: 	 
	 	Title:	 Assistant Treasurer	 	 	Title:	 

Acknowledged and agreed

SIG Euro Holding AG & Co. KGaA acting through its general partner (Komplementär) SIG Reinag AG

	 	 	 	 	 	 	 

	 
	By: 	 /s/ Philip West	 	By: 	 /s/ Helen Golding
	 	Name: 	 Philip West	 	 	Name: 	 Helen Golding
	 	Title:	 Authorised Signatory	 	 	Title:	 Authorised Signatory

- 53 -

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