Document:

Exhibit 4.2

                                                                 EXECUTION COPY

                                TEKNI-PLEX, INC.

                                  $275,000,000

                      8 3/4% Senior Secured Notes due 2013

                               Purchase Agreement

November 12, 2003

LEHMAN BROTHERS INC.
CITIGROUP GLOBAL MARKETS INC.
c/o Lehman Brothers, Inc.
745 Seventh Avenue
New York, New York 10019

Ladies and Gentlemen:

         Tekni-Plex, Inc., a corporation formed under the laws of Delaware (the
"Company"), proposes to issue and sell (the "Offering") to Lehman Brothers Inc.
("Lehman Brothers") and Citigroup Global Markets Inc. (the "Initial
Purchasers") $275,000,000 aggregate principal amount of its 8 3/4% Senior
Secured Notes due 2013 (the "Notes"). The Notes will be issued pursuant to the
provisions of an Indenture to be dated as of the Closing Date (as defined
below) (the "Indenture") among the Company, the Guarantors (as defined below)
and HSBC Bank USA, as trustee (the "Trustee"). The Notes will be guaranteed
(the "Guarantee" and, collectively with the Notes, the "Securities") on a
senior secured basis by each of the domestic subsidiaries of the Company listed
on Schedule A attached hereto (collectively, the "Guarantors").

         The sale of the Securities to the Initial Purchasers will be made
without registration of the Securities under the Securities Act of 1933, as
amended (the "Act" or the "Securities Act"), in reliance upon the exemption
therefrom provided by Section 4(2) of the Act.

         The Company and the Guarantors have agreed to secure, equally and
ratably, the Securities by granting to the Trustee, for the benefit of the
holders of the Securities (collectively, the "Secured Parties"), a security
interest (subject to Priority Liens, as such term is defined in the Description
of Notes section of the Offering Memorandum (as defined below)) on assets of
the Company and each of the Guarantors as described in the Offering Memorandum
under the caption "Description of Notes-Security" (the "Collateral"), as
evidenced by one or more Pledge Agreements among the Company, the Guarantors
and the Trustee dated as of the Closing Date (the "Pledge Agreement"), a
Security Agreement among the Company, the Guarantors and the Trustee dated as
of the Closing Date (the "Security Agreement"), certain mortgages or deeds of
trust (the "Mortgages") encumbering all of the real property set forth on
Schedule A hereto (the "Real Property"), and one or more Trademark, Patent and
Copyright Security Agreements among the Company, the Guarantors and the Trustee
dated as of the Closing Date (the "Intellectual Property Security Agreement,"
and together with the Pledge Agreement, the Security Agreement, the Mortgages,
the "Security Documents").

<PAGE>

         Holders of the Securities will have the benefits of a Registration
Rights Agreement to be dated as of the Closing Date by and among the Company,
the Guarantors and the Initial Purchasers, substantially in the form attached
hereto as Annex II (the "Registration Rights Agreement") pursuant to which the
Issuers will agree to file with the Securities and Exchange Commission (the
"Commission") (i) a registration statement under the Securities Act (the
"Exchange Registration Statement") registering an issue of senior secured notes
of the Company which are identical in all material respects to the Securities
(except that the Exchange Notes will not contain terms with respect to transfer
restrictions or liquidated damages) (such notes, together with any Private
Exchange Securities (as defined in the Registration Rights Agreement), are
referred to herein as the "Exchange Notes") and (ii) under certain limited
circumstances, a shelf registration statement with respect to the resale of the
Securities pursuant to Rule 415 under the Securities Act (the "Shelf
Registration Statement"). This Agreement, the Indenture, the Notes, the
Exchange Notes, the Registration Rights Agreement, the Guarantees and the
Security Documents are collectively referred to herein as the "Offering
Agreements."

         The Company and the Guarantors hereby agree, jointly and severally,
with the several Initial Purchasers as follows:

         1. The Company agrees to issue and sell the Notes and the Guarantors
agree to issue the Guarantees to the Initial Purchasers as hereinafter
provided, and the Initial Purchasers, upon the basis of the representations,
warranties and agreements herein contained, but subject to the conditions
hereinafter stated, agree, severally and not jointly, to purchase from the
Company the respective principal amount of Securities set forth next to its
name in Schedule C hereto, at a purchase price of 97.25% of the principal
amount of $275.0 million of the Securities. No additional consideration shall
be paid by the Initial Purchasers for the Guarantees.

         2. The Company and the Guarantors understand that the Initial
Purchasers intend (x) to offer privately the Securities as soon after this
Agreement has become effective as in the judgment of the several Initial
Purchasers is advisable and (y) initially to offer the Securities upon the
terms set forth in the Offering Memorandum (as defined below):

         The Company and the Guarantors confirm that they have authorized the
Initial Purchasers, subject to the restrictions set forth below, to distribute
copies of the Offering Memorandum in connection with the offering of the
Securities. Each of the Initial Purchasers hereby severally, and not jointly,
makes to the Company and the Guarantors the following representations,
warranties and agreements

                  (i) it is a "qualified institutional buyer" within the
         meaning of Rule 144A under the Act;

                  (ii) (A) it will not solicit offers for, or offer to sell,
         the Securities by any form of general solicitation or general
         advertising (as those terms are used in Regulation D under the Act) or
         in any manner involving a public offering within the meaning of
         Section 4(2) of the Act, (B) it will solicit offers for the Securities
         only from, and will offer, sell or deliver the Securities only to, (1)
         persons whom it reasonably believes to be "qualified institutional
         buyers" within the meaning of Rule 144A under the Act to whom notice
         has been given that such offer, sale or delivery is being made in
         reliance on Rule 144A or (2) persons upon the terms and conditions set
         forth in Annex I to this Agreement, and (C) it is not purchasing with
         a view to or for offer or sale in connection with any distribution
         that would be in violation of federal or state law. Those persons
         specified in clause (B) are referred to herein as the "Eligible
         Purchasers."

                  (iii) (A) it has not offered or sold, and will not offer or
         sell, any Securities in the United Kingdom by means of any document
         other than to persons whose ordinary business is to

                                       2

<PAGE>

         buy, hold, manage or dispose of investments, whether as principal or
         agent, for purposes of their businesses or otherwise in circumstances
         that do not constitute an offer to the public in the United Kingdom
         within the meaning of the Public Offers of Securities Regulations
         1995, (B) it has complied and will comply with all applicable
         provisions of the Financial Services Act 1986 of the United Kingdom
         with respect to anything done by it in relation to the Securities in,
         from or otherwise involving the United Kingdom and (C) it has only
         issued or passed on and will only issue or pass on, to any person in
         the United Kingdom, any document received by it in connection with
         the issue of the Securities, if that person is of a kind described in
         Article 11(3) of the Financial Services Act of 1986 (Investment
         Advertisements) (Exemptions) order 1996 or is a person to whom the
         document may otherwise lawfully be issued or passed on.

         3. Payment for the Securities shall be made by wire transfer in
immediately available funds, to the account specified by the Company to the
Initial Purchasers no later than noon on the Business Day (as defined below)
prior to the Closing Date (as defined below), on November 21, 2003, or at such
other time on the same or such other date, not later than the fifth Business
Day thereafter, as the several Initial Purchasers and the Company may agree
upon in writing. The time and date of such payment are referred to herein as
the "Closing Date." As used herein, the term "Business Day" means any day other
than a day on which banks are permitted or required to be closed in New York
City.

         Payment for the Securities shall be made against delivery to the
nominee of The Depository Trust Company for the account of the Initial
Purchasers of one or more global notes representing the Securities
(collectively, the "Global Notes"), with any transfer taxes payable in
connection with the transfer to the Initial Purchasers of the Securities duly
paid by the Company. The Global Notes will be made available for inspection by
the Initial Purchasers at the office of Lehman Brothers at the address set
forth above, or at such other location as the Company and Lehman Brothers
agree, not later than 1:00 P.M., New York City time, on the Business Day prior
to the Closing Date.

         4. Each of the Company and each Guarantor represents and warrants to
the several Initial Purchasers that:

           (a)   a preliminary offering memorandum, dated November 3, 2003
        (the "Preliminary Offering Memorandum") and an offering memorandum,
        dated November 12, 2003 (the "Offering Memorandum") have been
        prepared in connection with the offering of the Securities. Any
        reference to the Preliminary Offering Memorandum and/or the Offering
        Memorandum shall be deemed to refer to and include (i) any Rule
        144A(d)(4) Information (as defined in Section 5(m)) furnished by the
        Company prior to the completion of the distribution of the Securities
        and (ii) the Company's most recent Annual Report on Form 10-K and all
        subsequent documents filed with the Commission pursuant to Section
        13(a), 13(c) or 15(d) of the United States Securities Exchange Act of
        1934, as amended (the "Exchange Act") on or prior to the date of the
        Offering Memorandum. Any reference to the Offering Memorandum, as
        amended or supplemented, as of any specified date, shall be deemed to
        refer to and include any documents filed with the Commission pursuant
        to the Exchange Act after the date of the Offering Memorandum and
        prior to such specified date. All documents filed under the Exchange
        Act and so deemed to be included in the Offering Memorandum or any
        amendment or supplement thereto are hereinafter referred to as the
        "Incorporated Documents." The Offering Memorandum and any amendments
        or supplements thereto did not and will not, as of their respective
        dates, contain an untrue statement of a material fact or omit to
        state a material fact necessary in order to make the statements
        therein, in the light of the circumstances under which they were
        made, not misleading; provided that this representation and warranty
        does not apply to statements or omissions made in reliance
        upon and in conformity with information furnished in writing by an
        Initial Purchaser

                                       3

<PAGE>

        relating to such Initial Purchaser to the Company expressly for use in
        the Offering Memorandum or any amendment or supplement thereto;

           (b)   the financial statements, and the related notes thereto,
        included in the Offering Memorandum present fairly the consolidated
        financial position of each of the Company and its consolidated
        subsidiaries, as of the dates indicated and the results of their
        operations and the changes in their consolidated cash flows for the
        periods specified; said financial statements have been prepared in
        conformity with generally accepted accounting principles and practices
        applied on a consistent basis; and the pro forma financial information,
        and the related notes thereto, included in the Offering Memorandum are
        based upon good faith estimates and assumptions believed by the Company
        to be reasonable;

           (c)   since the respective dates as of which information is given in
        the Offering Memorandum, except as otherwise stated therein, there has
        not been any material change in the capital stock or long-term debt of
        the Company or the Subsidiaries (as defined below), or any material
        adverse change, or any development involving a prospective material
        adverse change, in or affecting the business, condition (financial or
        other), results of operations or prospects of the Company and the
        Subsidiaries, taken as a whole (a "Material Adverse Change" or
        "Prospective Material Adverse Change", respectively), otherwise than as
        set forth or contemplated in the Offering Memorandum; and except as set
        forth or contemplated in the Offering Memorandum, neither the Company,
        nor any of the Subsidiaries, has entered into any transaction or
        agreement (whether or not in the ordinary course of business) material
        to the Company and the Subsidiaries, taken as a whole;

           (d)   the Company has been duly incorporated and is validly existing
        as a corporation under the laws of the State of Delaware, with power
        and authority (corporate and other) to own its properties and conduct
        its business as described in the Offering Memorandum, and has been duly
        qualified as a foreign corporation for the transaction of business and
        is in good standing under the laws of each other jurisdiction in which
        it owns or leases properties, or conducts any business, so as to
        require such qualification, other than where the failure to be so
        qualified or in good standing would not have a material adverse effect
        on the business, condition (financial or other), results of operations
        or prospects of the Company and the Subsidiaries, taken as a whole (a
        "Material Adverse Effect"); the authorized, issued and outstanding
        capital stock of the Company, as set forth in the Offering Memorandum,
        is owned by the persons and in the amounts as set forth therein; the
        shares of issued and outstanding capital stock of the Company have been
        duly authorized and validly issued and are fully paid and
        non-assessable; none of the outstanding shares of capital stock of the
        Company was issued in violation of any preemptive or other similar
        rights;

           (e)   the Company has no subsidiaries other than those set forth on
        Schedule B attached hereto (each a "Subsidiary" and together, the
        "Subsidiaries"); each of the Subsidiaries has been duly incorporated
        and, unless otherwise indicated on Schedule B, is validly existing as a
        corporation under the laws of its jurisdiction of incorporation, with
        power and authority (corporate and other) to own its properties and
        conduct its business as described in the Offering Memorandum, and has
        been duly qualified as a foreign corporation for the transaction of
        business and is in good standing under the laws of each jurisdiction in
        which its owns or leases properties or conducts any business, so as to
        require such qualification, other than where the failure to be so
        qualified or in good standing would not have a Material Adverse Effect;
        and all the outstanding shares of capital stock of the Subsidiaries has
        been duly authorized and validly issued, are fully-paid and
        non-assessable under the corporate laws of the jurisdiction of
        incorporation, and (except

                                       4

<PAGE>

        as described in the Offering Memorandum) owned by the Company free and
        clear of all liens, encumbrances, security interests and claims;

           (f)   this Agreement has been duly authorized, executed and delivered
        by the Company and the Guarantors; (g) the Registration Rights
        Agreement has been duly authorized by each of the Company and the
        Guarantors, and when executed and delivered by them and (assuming the
        due authorization, execution and delivery by each of the Initial
        Purchasers) will constitute a valid agreement of the Company and the
        Guarantors and, subject to (i) the effect of applicable bankruptcy,
        insolvency, reorganization, moratorium, fraudulent conveyance and other
        laws affecting creditors' rights generally, (ii) general principles of
        equity and (iii) principles of public policy limiting the rights to
        enforce indemnification provisions (clauses (i), (ii) and (iii) being
        referred to collectively herein as the "Creditors' Rights
        Limitations"), will be binding and will be enforceable in accordance
        with its terms; and the Registration Rights Agreement will conform, in
        all material respects, to the description thereof in the Offering
        Memorandum;

           (h)   the Notes and the Exchange Notes have been duly authorized by
        the Company, and when issued and delivered pursuant to this Agreement
        (and the Registration Rights Agreement in the case of the Exchange
        Notes), will have been duly executed, issued and delivered and, when
        the Notes and the Exchange Notes are authenticated by the Trustee in
        accordance with the terms of the Indenture (assuming the due
        authorization, execution and delivery by the Trustee) and are delivered
        to and paid for by the Initial Purchasers in accordance with the terms
        of this Agreement (and the Registration Rights Agreement in the case of
        the Exchange Notes), will constitute valid obligations of the Company
        entitled to the benefits provided by the Indenture and, subject to the
        Creditors' Rights Limitations, will be binding and will be enforceable
        in accordance with their terms; and the Securities will conform, in all
        material respects, to the descriptions thereof in the Offering
        Memorandum;

           (i)   the Guarantees have been duly authorized by the Guarantors, and
        when the Notes or Exchange Notes, as the case may be, are issued and
        delivered pursuant to this Agreement (and the Registration Rights
        Agreement in the case of the Exchange Notes), will have been duly
        executed and delivered and, when the Notes or Exchange Notes, as the
        case may be, are authenticated by the Trustee in accordance with the
        terms of the Indenture (assuming the due authorization, execution and
        delivery by the Trustee) and are delivered to and paid for by the
        Initial Purchasers in accordance with the terms of this Agreement (and
        the Registration Rights Agreement in the case of the Exchange Notes),
        will constitute a valid obligation of the Guarantors and, subject to
        the Creditors' Rights Limitations, will be binding and will be
        enforceable in accordance with its terms;

           (j)   the Indenture has been duly authorized by the Company and the
        Guarantors and, when executed and delivered by each of the Company and
        the Guarantors (assuming the due authorization, execution and delivery
        by the Trustee), the Indenture will constitute a valid instrument of
        the Company and each such Guarantor and, subject to the Creditors'
        Rights Limitations, will be binding and will be enforceable in
        accordance with its terms; and the Indenture will conform, in all
        material respects, to the description thereof in the Offering
        Memorandum;

           (k)   the Security Documents have been duly authorized by the Company
        and the Guarantors party thereto and, when executed and delivered by
        each of the Company and such Guarantors, will constitute valid and
        legally binding obligations of the Company and such

                                       5

<PAGE>

        Guarantors and, subject to the Creditors' Rights Limitations, will
        be binding and will be enforceable in accordance with their terms;
        and the Security Documents will conform, in all material respects,
        to the descriptions thereof in the Offering Memorandum;

           (l)   when executed and delivered by the Company and the Guarantors,
        the Security Documents will create, in favor of the Trustee for the
        benefit of the Secured Parties as security for all of the Secured
        Obligations, a valid and continuing security interest in the
        Collateral, and when the filings referred to in Section 4(e)(i) are
        made, such security interests will be perfected second priority
        security interests (subject to Priority Liens) to the extent that a
        security interest in such Collateral may be perfected by such filings.
        Each of the Issuers is a "registered organization" (as defined in
        Article 9 of the Uniform Commercial Code) under the law of the state in
        which it is identified in the Indenture as being organized;

           (m)   the Mortgages have each been duly authorized by the Company and
        the Guarantors party thereto and, when executed and delivered by the
        Company and such Guarantors, will constitute valid and legally binding
        obligations of the Company and such Guarantors, and will be binding and
        will be enforceable in accordance with their terms. When delivered at
        the Closing Date, each Mortgage will be delivered, duly acknowledged
        and attested and otherwise will be in recordable form, and when such
        Mortgage is filed for record and recorded in the filing office
        identified therein, the security interest described therein will
        constitute a duly perfected second priority security interest in favor
        of the Trustee for the benefit of the Secured Parties;

           (n)   as of the Closing Date, the representations and warranties
        contained in the Security Documents will be true and correct in all
        material respects;

           (o)   except for Priority Liens, the Collateral is not under the
        control or in the possession of any holder of a lien on such
        Collateral;

           (p)   the Company and the Guarantors own the Collateral free and
        clear of all Liens (other than Permitted Liens, as such term is
        defined in the Description of Notes section of the Offering
        Memorandum), and no Financing Statements (as defined below) in respect
        of any property or assets of the Company or any Guarantor will be on
        file in favor of any person other than those in respect of Permitted
        Liens; the Issuers have not authorized the filing of any Financing
        Statements except for those relating to Permitted Liens;

           (q)   none of the transactions contemplated by this Agreement
        (including, without limitation, the use of the proceeds from the sale
        of the Securities) will violate or result in a violation of Section 7
        of the Exchange Act, or any regulation promulgated thereunder,
        including, without limitation, Regulations T, U, and X of the Board of
        Governors of the Federal Reserve System;

           (r)   neither the Company nor any Subsidiary is, or with the giving
        of notice or lapse of time or both would be, in violation of or in
        default under its Certificate of Incorporation or By-Laws (or similar
        organizational documents) or any indenture, mortgage, deed of trust,
        loan agreement or other agreement or instrument to which it is a party
        or by which it or any of its properties is bound, except for
        violations and defaults which individually and in the aggregate would
        not have a Material Adverse Effect or are not material to the holders
        of the Securities as such; the issue and sale of the Securities and
        the performance by each of the Company and the Guarantors of all of
        the provisions of their obligations under the Offering Agreements and
        the consummation of the transactions herein and therein contemplated
        will not conflict with or result in a breach of any of the terms or
        provisions of, or constitute a default under, any indenture,

                                      6

<PAGE>

        mortgage, deed of trust, loan agreement or other agreement or
        instrument to which the Company or any Guarantor is a party or by
        which the Company or any Guarantor is bound or to which any of the
        property or assets of the Company or any Guarantor is subject,
        except such as would not have a Material Adverse Effect, nor will
        any such action result in any violation of the provisions of the
        Certificate of Incorporation or By-Laws of the Company or any
        Guarantor or (assuming the accuracy of the representations by, and
        compliance with the agreements of, the several Initial Purchasers
        set forth in paragraph 2 of this Agreement) any applicable law or
        statute or any order, rule or regulation of any court or
        governmental agency or body having jurisdiction over the Company,
        any Guarantor or any of their respective properties; and no consent,
        approval, authorization, order, license, registration, filing with
        or qualification of or with any such court or governmental agency or
        body is required for the issue and sale of the Securities or the
        consummation by the Company or any Guarantor of the transactions
        contemplated by the Offering Agreements, except for: (i) such
        filings with respect to the perfection of the Trustee's security
        interests in the Collateral and the Real Property granted pursuant
        to the Security Documents; (ii) such consents, approvals,
        authorizations, registrations or qualifications as may be required
        under any state securities or Blue Sky Laws in connection with the
        purchase and distribution of the Securities by the Initial
        Purchasers and (iii) those that would not have a Material Adverse
        Effect;

           (s)   other than as set forth or contemplated in the Offering
        Memorandum, there are no legal or governmental investigations,
        actions, suits or proceedings pending or, to the knowledge of the
        Company, threatened against or affecting the Company or any Subsidiary
        or any of their respective properties or to which the Company or any
        Subsidiary is or may be a party or to which any property of the
        Company or any Subsidiary is or may be the subject which could
        individually or in the aggregate have, or reasonably be expected to
        have, a Material Adverse Effect and, to the best of the Company's
        knowledge, no such proceedings are threatened or contemplated by
        governmental authorities or threatened by others;

           (t)   neither the Company nor any affiliate (as defined in Rule
        501(b) of Regulation D under the Act ("Regulation D")) of the Company
        has directly, or through any agent, sold, offered for sale, solicited
        offers to buy or otherwise negotiated in respect of, any security (as
        defined in the Act) which is or will be integrated with the sale of
        the Securities in a manner that would require the registration under
        the Act of the offering contemplated by the Offering Memorandum;

           (u)   neither the Company, the Guarantors nor any person (other than
        the Initial Purchasers, as to which the Company makes no
        representation) acting on their behalf has offered or sold the
        Securities by means of any general solicitation or general advertising
        within the meaning of Rule 502(c) of Regulation D under the Act or,
        with respect to Securities sold outside the United States to non-U.S.
        persons (as defined in Rule 902 under the Act), by means of any
        directed selling efforts within the meaning of Rule 902 under the Act
        and the Company, the Guarantors and any of their affiliates and any
        person (other than the Initial Purchasers) acting on their behalf has
        complied with and will implement the "offering restrictions" within
        the meaning of such Rule 902 under the Act;

           (v)   neither the Company nor any of the Guarantors is, or will be
        after giving effect to the offering and sale of the Securities to be
        sold and the application of the proceeds from such sale (as described
        in the Offering Memorandum under the caption "Use of Proceeds"),
        required to register as an "investment company" within the meaning of
        the Investment Company Act of 1940, as amended;

                                      7

<PAGE>

           (w)   assuming that the representations of the several Initial
        Purchasers set forth in Section 2 of this Agreement are true, correct
        and complete and assuming compliance by the several Initial Purchasers
        with its agreements in Section 2 of this Agreement, it is not
        necessary in connection with the offer, sale and delivery of the
        Securities in the manner contemplated by this Agreement to register
        the Securities under the Act or to qualify an indenture under the
        Trust Indenture Act of 1939, as amended (the "TIA");

           (x)   the Securities satisfy the requirements set forth in Rule
        144A(d)(3) under the Act;

           (y)   BDO Seidman, LLP, who have certified certain financial
        statements of the Company and its subsidiaries, are independent public
        accountants as required by the Act;

           (z)   the Company and the Subsidiaries have good and marketable title
        in fee simple to all material items of real property and good and
        marketable title to all material personal property owned by them, in
        each case free and clear of all liens, encumbrances and defects except
        Permitted Liens; and any real property and buildings held under lease
        by the Company or the Subsidiaries are held by them under valid,
        existing and enforceable leases (subject to the Creditors' Rights
        Limitations) with such exceptions as are not material and do not
        interfere with the use made or proposed to be made of such property by
        the Company or the Subsidiaries. The Company and the Subsidiaries own
        or possess, or have no reason to believe they cannot acquire on
        reasonable terms, adequate licenses or other rights to use all
        patents, trademarks, service marks, trade names, copyrights and
        know-how necessary to conduct the businesses now or proposed to be
        operated by them as described in the Offering Memorandum, except where
        the failure to own, possess or have the ability to acquire any such
        licenses or other rights could not, individually or in the aggregate,
        be reasonably expected to have a Material Adverse Effect, and neither
        the Company nor any Subsidiary has received any written or, to the
        best knowledge of the Company, oral notice of infringement of or
        conflict with asserted rights of others with respect to any patents,
        trademarks, service marks, trade names, copyrights or know-how which,
        if such assertion of infringement or conflict were sustained, would
        have a Material Adverse Effect;

           (aa)   the Company and the Subsidiaries have filed all federal,
        state, local and foreign tax returns which have been required to be
        filed and have paid all taxes shown thereon and all assessments
        received by them or any of them to the extent that such taxes have
        become due and are not being contested in good faith except in any
        case where the failure to file or pay would not individually or in the
        aggregate have a Material Adverse Effect, and, except as disclosed in
        the Offering Memorandum, the Company has no knowledge of any material
        tax deficiency which has been or might reasonably be expected to be
        asserted or threatened against the Company;

           (bb)   each of the Company and each Subsidiary owns, possesses or has
        obtained all material licenses, permits, certificates, consents,
        orders, approvals and other authorizations from, and has made all
        declarations and filings with, all federal, state, local and other
        governmental authorities (including foreign regulatory agencies), all
        self-regulatory organizations and all courts and other tribunals,
        domestic or foreign, necessary to own or lease, as the case may be,
        and to operate its properties and to carry on its business as
        conducted as of the date hereof, except to the extent that the failure
        to so obtain or file, individually or in the aggregate, could not
        reasonably be expected to have a Material Adverse Effect, and neither
        the Company nor any Subsidiary has received any actual notice, or is
        not aware, of any proceeding relating to revocation or modification of
        any such license, permit, certificate, consent, order, approval or
        other authorization, except as described in the Offering Memorandum;
        and each of the Company and each Subsidiary is in compliance with all
        laws and regulations relating to the conduct of its business as of the
        date hereof;

                                      8

<PAGE>

           (cc)   there are no existing or, to the best knowledge of the
        Company, threatened labor disputes with the employees of the Company
        and the Subsidiaries which are likely to have a Material Adverse
        Effect;

           (dd)   each of the Company and each Subsidiary (i) is in compliance
        with any and all applicable federal, state and local laws and
        regulations relating to the protection of human health and safety, the
        environment or hazardous or toxic substances or wastes, pollutants or
        contaminants ("Environmental Laws"), (ii) has received all permits,
        licenses or other approvals required of it under applicable
        Environmental Laws to conduct its business and (iii) is in compliance
        or is in the process of complying with all terms and conditions of any
        such permit, license or approval, except in each of clauses (i), (ii)
        and (iii) above, where such noncompliance with Environmental Laws,
        failure to receive required permits, licenses or other approvals or
        failure to comply with the terms and conditions of such permits,
        licenses or approvals would not, individually or in the aggregate,
        reasonably be expected to have a Material Adverse Effect; associated
        costs and liabilities (including, without limitation, any capital or
        operating expenditures required for clean-up, closure of properties or
        compliance with Environmental Laws or any permit, license or approval,
        any related constraints on operating activities and any potential
        liabilities to third parties) would not, individually or in the
        aggregate, reasonably be expected to have a Material Adverse Effect;

           (ee)   each employee benefit plan, within the meaning of Section 3(3)
        of the Employee Retirement Income Security Act of 1974, as amended
        ("ERISA"), that is maintained, administered or contributed to by the
        Company or any affiliates of the Company for employees or former
        employees of the Company and its affiliates has been maintained, in
        all material respects, in compliance with its terms and the
        requirements of any applicable statutes, orders, rules and
        regulations, including but not limited to ERISA and the Internal
        Revenue Code of 1986, as amended (the "Code"); no prohibited
        transaction, within the meaning of Section 406 of ERISA or Section
        4975 of the Code has occurred with respect to any such plan excluding
        transactions effected pursuant to a statutory or administrative
        exemption and excluding transactions which would not have a Material
        Adverse Effect; and for each such plan which is subject to the funding
        rules of Section 412 of the Code or Section 302 of ERISA no
        "accumulated funding deficiency" as defined in Section 412 of the Code
        has been incurred, whether or not waived, and the fair market value of
        the assets of each such plan which is subject to Title IV of ERISA
        (excluding for these purposes accrued but unpaid contributions)
        exceeded the present value of all benefits accrued under such plan as
        determined using reasonable actuarial assumptions; and

           (ff)   The Incorporated Documents, when they were or are filed with
        the Commission, conformed or will conform in all material respects to
        the applicable requirements of the Exchange Act and the applicable
        rules and regulations of the Commission thereunder.

        5. Each of the Company and each Guarantor, jointly and severally,
covenants and agrees with the several Initial Purchasers as follows:

           (a)   before distributing any amendment or supplement to the Offering
        Memorandum, to furnish to the Initial Purchasers a copy of the
        proposed amendment or supplement for review and not to distribute any
        such proposed amendment or supplement to which the Initial Purchasers
        reasonably object;

           (b)   if, at any time prior to the completion of the initial
        placement of the Securities, any event shall occur as a result of
        which it is necessary to amend or supplement the Offering Memorandum
        in order that the Offering Memorandum does not contain an untrue
        statement of a

                                      9

<PAGE>

        material fact or omit to state a material fact necessary in order to
        make the statements therein, in the light of the circumstances when
        the Offering Memorandum is delivered to a purchaser, not misleading,
        or if it is necessary to amend or supplement the Offering Memorandum
        to comply with law, forthwith to prepare and furnish, at the expense
        of the Company, to the Initial Purchasers and to the dealers (whose
        names and addresses the Initial Purchasers will furnish to the
        Company) to which Securities may have been sold by an Initial
        Purchaser on behalf of such Initial Purchaser and to any other
        dealers upon request, such amendments or supplements to the Offering
        Memorandum as may be necessary so that the Offering Memorandum as so
        amended or supplemented will not contain an untrue statement of a
        material fact or omit to state a material fact necessary in order to
        make the statements therein, in the light of the circumstances when
        the Offering Memorandum is delivered to a purchaser, not misleading
        or so that the Offering Memorandum will comply with law;

           (c)   to cooperate with the Initial Purchasers and their counsel in
        connection with the registration or qualification of the Securities
        for offering and sale by the Initial Purchasers and by dealers under
        the securities or Blue Sky laws of such jurisdictions as you may
        designate and will file such consents to service of process or other
        documents necessary or appropriate in order to effect such
        registration or qualification; provided that in no event shall the
        Company or the Guarantors be obligated to qualify to do business in
        any jurisdiction where it is not now so qualified or to take any
        action that would subject it to taxation or service of process in
        suits, other than those arising out of the Offering or sale of the
        Securities, in any jurisdiction where it is not now so subject;

           (d)   so long as the Securities are outstanding, to furnish to the
        Initial Purchasers copies of all reports or other communications
        (financial or other) furnished to holders of Securities, and copies of
        any reports and financial statements furnished to or filed with the
        Commission or any national securities exchange;

           (e)   during the period beginning on the date hereof and continuing
        to and including 90 days following the Closing Date, not to offer,
        sell, contract to sell, or otherwise dispose of, directly or
        indirectly, or announce the offering of, any debt securities
        substantially similar to the Securities or securities convertible into
        such debt securities issued or governed by the Company and our
        wholly-owned Subsidiaries without the prior written consent of Lehman
        Brothers;

           (f)   to use the net proceeds received by the Company from the sale
        of the Securities pursuant to this Agreement in the manner specified
        in the Offering Memorandum under the caption "Use of Proceeds";
        provided, however, that the allocation between prepayment of the Term
        Loan A and Term Loan B (as listed under the caption "Use of Proceeds"
        in the Offering Memorandum) may change so long as (1) such change is
        in accordance with the Credit Agreement (as defined in the Indenture)
        and (2) the total net proceeds used to prepay the Term Loan A and the
        Term Loan B remains the same;

           (g)   to use its best efforts to cause such Securities to be eligible
        for the PORTAL trading system of the National Association of
        Securities Dealer, Inc.;

           (h)   to furnish to the holders of the Securities as soon as
        practicable after the end of each fiscal year an annual report
        (including a balance sheet and statements of income, stockholders'
        equity and cash flows of the Company and its wholly-owned Subsidiaries
        certified by independent public accountants) and, as soon as
        practicable after the end of each of the first three quarters of each
        fiscal year (beginning with the fiscal quarter ending after the date
        of the

                                      10

<PAGE>

        Offering Memorandum), consolidated summary financial information of
        the Company and its wholly-owned Subsidiaries of such quarter in
        reasonable detail;

           (i)   during the period of two years after the Closing Date, not to,
        and to use its best efforts not to permit any of its "affiliates" (as
        defined in Rule 144 under the Act) to, resell any of the Securities
        which constitute "restricted securities" under Rule 144 that have been
        reacquired by any of them;

           (j)   whether or not the transactions contemplated by this Agreement
        are consummated or this Agreement is terminated and in addition to any
        obligations they may have under any other agreements with the Initial
        Purchasers and/or their affiliates, to pay or cause to be paid all
        costs and expenses incident to the performance of their obligations
        hereunder, including without limiting the generality of the foregoing,
        all costs and expenses (i) incident to the preparation, issuance,
        execution, authentication and delivery of the Securities, including
        any expenses of the Trustee, (ii) incident to the preparation,
        printing and distribution of the Offering Memorandum and any
        preliminary offering memorandum (including in each case all exhibits,
        amendments and supplements thereto), (iii) incurred in connection with
        the registration or qualification and determination of eligibility for
        investment of the Securities under the laws of such jurisdictions as
        the Initial Purchasers may designate (including fees of counsel for
        the Initial Purchasers and their disbursements), (iv) in connection
        with the application for eligibility for trading of the Securities in
        the PORTAL trading system, (v) in connection with the printing
        (including word processing and duplication costs) and delivery of this
        Agreement, the Indenture, the Registration Rights Agreement, all Blue
        Sky Memoranda, if any, and the furnishing to the Initial Purchasers
        and dealers of copies of the Offering Memorandum, including mailing
        and shipping, as herein provided, (vi) payable to rating agencies in
        connection with the rating of the Securities, and (vii) incurred by
        the Company in connection with a "road show" presentation to potential
        investors;

           (k)   to take all reasonable action that is appropriate or necessary
        to assure that its offerings of other securities will not be
        integrated for purposes of the Act with the offerings contemplated
        hereby;

           (l)   not to solicit any offer to buy or offer to sell Securities by
        means of any form of general solicitation or general advertising
        within the meaning of Rule 502(c) of Regulation D under the Act;

           (m)   while the Securities remain outstanding and are "restricted
        securities" within the meaning of Rule 144(a)(3) under the Act, during
        any period in which it is not subject to Section 13 or 15(d) under the
        Exchange Act, to make available to the Initial Purchasers and any
        holder of Securities in connection with any sale thereof and any
        prospective purchaser of Securities, in each case upon request, the
        information specified in, and meeting the requirements of, Rule
        144A(d)(4) ("Rule 144A(d)(4) Information") under the Act (or any
        successor thereto); and

           (n)   not to take any action prohibited by Regulation M under the
        Exchange Act (or any successor provision) in connection with the
        distribution of the Securities contemplated hereby.

                                      11

<PAGE>

        6. The respective obligations of the Initial Purchasers hereunder to
purchase the Securities on the Closing Date are subject to the performance, in
all material respects, by each of the Company and the Guarantors of their
obligations hereunder and to the following additional conditions:

           (a)   the representations and warranties of each of the Company and
        the Guarantors contained herein are true and correct on and as of the
        Closing Date as if made on and as of the Closing Date and each of the
        Company and the Guarantors shall have complied, in all material
        respects, with all agreements and all conditions on its part to be
        performed or satisfied hereunder, or under the Security Documents, at
        or prior to the Closing Date;

           (b)   subsequent to the execution and delivery of this Agreement and
        prior to the Closing Date, there shall not have occurred any
        downgrading, nor shall any notice have been given of (i) any
        downgrading, (ii) any intended or potential downgrading or (iii) any
        review or possible change that does not indicate an improvement, in
        the rating accorded any securities of or guaranteed by the Company by
        any "nationally recognized statistical rating organization", as such
        term is defined for purposes of Rule 436(g)(2) under the Act;

           (c)   subsequent to the execution and delivery of this Agreement
        there shall not have occurred any of the following: (i) trading in
        securities generally on the New York Stock Exchange, the Nasdaq
        National Market or the American Stock Exchange or in the
        over-the-counter market, or trading in any securities of the Company
        on any exchange or in the over-the-counter market, has been suspended
        or minimum prices shall have been established on any such exchange or
        such market by the Commission, by such exchange or by any other
        regulatory body or governmental authority having jurisdiction; (ii) a
        material disruption in securities settlement, payment or clearance
        services in the United States; (iii) a banking moratorium has been
        declared by Federal or state authorities; (iv) any attack on, outbreak
        or escalation of hostilities or act of terrorism involving the United
        States, any declaration of war by Congress or any other national or
        international calamity, crisis or emergency if, in the judgment of the
        Initial Purchasers, the effect of any such attack, outbreak,
        escalation, act, declaration, calamity, crisis or emergency makes it
        impractical or inadvisable to proceed with completion of the offering
        or sale of and payment for the Securities; or (v) the occurrence of
        any other calamity, crisis (including without limitation as a result
        of terrorist activities), or material adverse change in general
        economic, political or financial conditions (or the effect of
        international conditions on the financial markets in the United States
        shall be such) as to make it, in the judgment of Lehman Brothers,
        impracticable or inadvisable to proceed with offering or delivery of
        the Securities being delivered on the Closing Date or that, in the
        judgment of Lehman Brothers, would materially and adversely affect the
        financial markets or the markets for the Securities and other debt
        securities.

           (d)   the Initial Purchasers shall have received on and as of the
        Closing Date a certificate of the Company signed for the Company by an
        executive officer of the Company with specific knowledge about the
        Company's and Guarantors' financial matters, satisfactory to the
        Initial Purchasers to the effect set forth in subsections (a) and (b)
        of this Section and to the further effect that there has not occurred
        any Material Adverse Change, or any development involving a
        Prospective Material Adverse Change, from those set forth or
        contemplated in the Offering Memorandum;

           (e)   the Trustee shall have received (with a copy for the Initial
        Purchasers) at the Closing Date:

                 (i) appropriately completed copies, which have been duly
            authorized for filing by the appropriate Person, of Uniform
            Commercial Code Financing Statements

                                      12

<PAGE>

            naming the Company and each Guarantor as debtors and the
            Trustee as the secured party, or other similar instruments or
            documents to be filed under the UCC of all jurisdictions as may
            be necessary or, in the reasonable opinion of the Trustee and
            its counsel, desirable to perfect the security interests of the
            Trustee pursuant to the Security Documents;

                (ii) appropriately completed copies, which have been duly
            authorized for filing by the appropriate Person, of Uniform
            Commercial Code Form UCC-3 termination statements, if any,
            necessary to release all Liens (other than Permitted Liens) of any
            Person in any Collateral described in the Security Documents
            previously granted by any Person;

               (iii) certified copies of Uniform Commercial Code Requests
            for Information or Copies (Form UCC-11), or a similar search
            report certified by a party acceptable to the Trustee, dated a
            date reasonably satisfactory to the Initial Purchasers, listing
            all effective financing statements which name the Company or any
            Guarantor (under its present name and any previous names) as the
            debtor, together with copies of such financing statements;

                (iv) confirmation reasonably satisfactory to the Initial
            Purchasers that the Mortgages have been duly filed and recorded in
            the appropriate offices for each of the Real Properties or
            arrangements reasonably satisfactory to the Trustee have been made
            therefor; and

                 (v) such other approvals, opinions or documents as the
            Initial Purchasers, the Trustee may reasonably request in form and
            substance satisfactory to each of them;

           (f)   all Uniform Commercial Code Financing Statements or other
        similar financing statements and Uniform Commercial Code Form UCC-3
        termination statements required pursuant to clause (e)(i) above or to
        terminate any financing statements (other than with respect to
        Permitted Liens) which are listed in the search reports referred to in
        clause (e)(ii) above shall have been delivered to CT Corporation
        System or another similar filing service company acceptable to the
        Trustee (the "Filing Agent"). The Filing Agent shall have acknowledged
        in a writing reasonably satisfactory to the Trustee and its counsel
        (i) the Filing Agent's receipt of all financing statements, (ii) that
        the financing statements have either been submitted for filing in the
        appropriate filing offices or will be submitted for filing in the
        appropriate offices within ten days following the Closing Date and
        (iii) that the Filing Agent will notify the Trustee and its counsel of
        the results of such submissions within 30 days following the Closing
        Date;

           (g)   the amendment to the existing Credit Agreement dated as of June
        21, 2000, amending the credit facility thereunder, substantially on
        the terms set forth in the Offering Memorandum, shall have become
        effective prior to or on the Closing Date on substantially the terms
        described in the Offering Memorandum; upon the effectiveness of such
        amendment the consummation of the transactions contemplated by this
        Agreement shall not conflict with the Company's Credit Agreement as
        then in effect; and the Initial Purchasers shall have received
        counterparts, conformed as executed, of such amendment to the Credit
        Agreement and such other documentation as they deem necessary to
        evidence the consummation thereof;

           (h)   Davis Polk & Wardwell, Counsel for the Company, shall have
        furnished to the Initial Purchasers their written opinion, dated the
        Closing Date in form and substance satisfactory to the Initial
        Purchasers, to the effect that:

                                      13

<PAGE>

                 (i) the Company has been duly incorporated and is validly
            existing as a corporation in good standing under the laws of
            Delaware with the corporate power and authority to own its
            properties and conduct its business as described in the Offering
            Memorandum;

                (ii) each Guarantor organized under the laws of the State of
            Delaware or New York is a corporation validly existing under the
            laws of its jurisdiction of incorporation with power and authority
            to enter into the Offering Agreements;

               (iii) to such counsel's knowledge, other than as set forth or
            contemplated in the Offering Memorandum, there are no legal or
            governmental investigations, actions, suits or proceedings (i)
            pending or threatened against or affecting the Company or the
            Subsidiaries or any of their respective properties or to which the
            Company or any Subsidiary is or may be a party or to which any
            property of the Company or any Subsidiary is or may be the subject
            which, if determined adversely to the Company or such Subsidiary,
            could individually or in the aggregate have, or reasonably be
            expected to have, a Material Adverse Effect or (ii) which seek to
            restrain, enjoin, prevent the consummation of or otherwise
            challenge the issuance or sale of the Securities in the manner
            contemplated by the Offering Memorandum or the consummation of the
            Offering or the Transactions; to such counsel's knowledge, no such
            proceedings are threatened by governmental authorities or by
            others;

                (iv) this Agreement has been duly authorized, executed and
            delivered by each of the Company and each Guarantor organized
            under the laws of the State of Delaware or New York;

                 (v) the Registration Rights Agreement has been duly
            authorized, executed and delivered by each of the Company and each
            Guarantor organized under the laws of the State of Delaware or New
            York and is a valid agreement of each of the Company and each such
            Guarantor and, subject to the Creditors' Rights Limitations, is
            binding and is enforceable against the Company and such Guarantor
            in accordance with its terms;

                (vi) the Guarantee has been duly authorized, executed and
            delivered by each Guarantor organized under the laws of the State
            of Delaware or New York and, and upon delivery to and payment for
            the Notes by the Initial Purchasers in accordance with the terms
            of this Agreement, will constitute a valid obligation of each such
            Guarantor and, subject to the Creditors' Rights Limitations, is
            binding and is enforceable against each such Guarantor in
            accordance with its terms;

               (vii) the Notes have been duly authorized, executed and
            delivered by the Company and, when duly authenticated in
            accordance with the terms of the Indenture and delivered to and
            paid for by the Initial Purchasers in accordance with the terms of
            this Agreement, will constitute valid obligations of the Company
            entitled to the benefits provided by the Indenture and, subject to

                                      14

<PAGE>

            the Creditors' Rights Limitations, are binding and are enforceable
            against the Company in accordance with their terms;

              (viii) the Indenture has been duly authorized, executed and
            delivered by the Company and each Guarantor organized under the
            laws of the State of Delaware or New York and (assuming the due
            authorization, execution and delivery by the Trustee) constitutes
            a valid agreement of the Company and each such Guarantor and,
            subject to the Creditors' Rights Limitations, is binding and is
            enforceable against the Company and each such Guarantor,
            respectively, in accordance with its terms;

                (ix) each of the Security Documents has been duly authorized,
            executed and delivered by the Company and each of the Guarantors
            party thereto and each Security Document (other than the
            Mortgages) constitutes a valid agreement of the Company and each
            such Guarantor and, subject to the Creditors' Rights Limitations,
            is binding and is enforceable against the Company and each such
            Guarantor, respectively, in accordance with its terms;

                 (x) each of the Security Agreement and the Pledge Agreement
            is effective to create, in favor of the Trustee for the benefit of
            the holders of the Securities, as security for the Secured
            Obligations, a valid security interest (the "Article 9 Security
            Interest") in the Company's and the Guarantors' right, title and
            interest in that portion of the Collateral, described therein in
            which a security interest may be created pursuant to Article 9 of
            the Uniform Commercial Code as in effect in the State of New York
            on the date hereof (the "UCC");

                (xi) to the extent that the filing of a Uniform Commercial
            Code financing statement in the filing office of the jurisdiction
            of organization of the Company or a Guarantor, as the case may be,
            is effective under the UCC of such jurisdiction to perfect a
            security interest in the Collateral of the Company or such
            Guarantor, as the case may be, the Article 9 Security Interest in
            the Collateral will be perfected upon the filing of Uniform
            Commercial Code financing statements;

               (xii) intentionally omitted;

              (xiii) other than the subject matter of subparagraphs (xv)
            and (xix), the issue and sale of the Securities and the
            performance by the Company and the Guarantors of their obligations
            under the Securities, the execution and delivery of the Offering
            Agreements and the consummation by the Company and the Guarantors
            of the transactions contemplated hereby and thereby will not
            conflict with or constitute or result in a breach or a default
            under or violation of any of (i) the terms or provisions of any
            agreement or instrument listed on Exhibit D to this Agreement,
            except that with respect to which a waiver or consent has been
            received as identified on Exhibit D (ii) the Certificate of
            Incorporation or By-Laws of the Company or such Guarantor, or
            (iii) any applicable United States federal or New York State
            statute or to the best of our knowledge, any United States federal
            or New York State order, decree, rule or regulation of any federal
            or New York State governmental agency or body or Delaware General
            Corporation Law, in each case that in such counsel's experience is
            normally applicable to general business corporations in relation
            to transactions of the type contemplated by this Agreement;

               (xiv) other than the subject matter of paragraphs (xi) and
            (xv), to their knowledge, no consent, approval, authorization,
            order, license, registration, filing with or qualification of or
            with any court or governmental agency or body is required for the
            issue and sale of the Securities or the consummation of the other
            transactions contemplated by this Agreement or the Indenture,
            except as may be required under state securities or Blue Sky laws
            in connection with the purchase and distribution of the Securities
            or the Exchange Notes or the federal securities laws with respect
            to the Exchange Notes;

                                      15

<PAGE>

                (xv) no registration under the Act of the Securities is
            required in connection with the sale of the Securities to the
            Initial Purchasers as contemplated by this Agreement and the
            Offering Memorandum or in connection with the initial resale of
            the Securities by the Initial Purchasers in accordance with
            Section 2 (including Annex I) of this Agreement, and prior to the
            commencement of the Exchange Offer or the effectiveness of the
            Shelf Registration Statement, the Indenture is not required to be
            qualified under the TIA, in each case assuming (i) that the
            purchasers who buy the Securities in the initial resales are
            qualified institutional buyers (as defined in Rule 144A under the
            Act) or non-U.S. Persons (as defined in Rule 902 under the Act)
            and (ii) the accuracy of the several Initial Purchasers'
            representations and those of the Company and the Guarantors
            contained in this Agreement regarding the absence of a general
            solicitation in connection with the sale of the Securities to the
            Initial Purchasers and the initial resales thereof (it being
            understood that such counsel need express no opinion as to any
            subsequent resale of any Notes);

               (xvi) the Securities satisfy the requirements set forth in
            Rule 144A(d)(3) under the Act;

              (xvii) the statements in the Offering Memorandum under
            "Description of Notes," insofar as such statements constitute a
            description of the legal matters, documents or proceedings
            referred to therein, fairly present the information called for
            with respect to such legal matters, documents or proceedings;

             (xviii) on the basis stated below, no facts have come to the
            attention of such counsel that lead such counsel to believe,
            except for the financial statements, related financial statement
            schedules, and other financial information contained in the
            Offering Memorandum as to which such counsel expresses no belief,
            that the Offering Memorandum, as of its date of issuance and, as
            amended or supplemented, if applicable, as of the Closing Date,
            contained an untrue statement of a material fact or omitted to
            state a material fact necessary in order to make the statements
            therein, in the light of the circumstances under which they were
            made, not misleading; and

               (xix) the Company is not and, after giving effect to the
            offering and sale of the Securities to be sold and the application
            of the proceeds from such sale (as described in the Offering
            Memorandum under the caption "Use of Proceeds") will not be
            required to registered as an "investment company" as defined in
            the Investment Company Act of 1940, as amended.

                  In rendering such opinions, such counsel may rely (A) as to
         matters involving the application of laws other than the federal laws
         of the United States, the corporate law of the State of Delaware and
         the laws of the State of New York, to the extent such counsel deems
         proper and to the extent specified in such opinion, if at all, upon
         an opinion or opinions (reasonably satisfactory to the Initial
         Purchasers' counsel) of other counsel, reasonably acceptable to the
         Initial Purchasers' counsel, familiar with the applicable laws; and
         (B) as to matters of fact, to the extent such counsel deems proper,
         on the representations and warranties made by the Company and the
         Guarantors herein, and certificates and statements of public
         officials and officers and other representatives of the Company and
         the Guarantors (and such counsel has not independently verified or
         investigated, nor does such counsel assume any responsibility for,
         the factual accuracy or completeness of such representations and
         warranties or certificates or of such factual statements). The
         opinion of such counsel for the Company shall state that the opinion
         of any such other counsel upon which they relied is in form
         satisfactory to such counsel and, in such

                                      16

<PAGE>

         counsel's opinion, the Initial Purchasers and they are justified in
         relying thereon. With respect to matters covered in subparagraph (xi)
         above, the opinion of such counsel shall opine only with respect to
         the laws of the State of New York, it being understood by the Initial
         Purchasers that local counsel, in the State of Delaware will furnish
         to the Initial Purchasers a written opinion meeting the requirements
         of this subsection with respect to matters covered in subparagraph
         (xi) involving the laws of the State of Delaware not later than 45
         days after the Closing Date. With respect to the matters to be
         covered in subparagraph (xviii) above counsel may state that their
         opinion and belief is based upon their participation in the
         preparation of the Offering Memorandum and any amendment or
         supplement thereto, and that since such counsel has not conducted any
         independent investigation with regard to the information set forth in
         the Offering Memorandum and any amendment or supplement thereto, such
         counsel is not passing upon and does not assume any responsibility
         for the accuracy, completeness or fairness of the statements
         contained therein except with respect to the opinions set forth in
         subparagraph (xvii) above.

                  The opinion of Davis Polk & Wardwell described above shall
         be rendered to the Initial Purchasers at the request of the Company
         and shall so state therein.

                  (i)   the Company shall have furnished to the Initial
         Purchasers a solvency certificate dated the Closing Date in form and
         substance satisfactory to the Initial Purchasers;

                  (j)   on the date of the issuance of the Offering Memorandum
         and also on the Closing Date, BDO Seidman, LLP shall have furnished
         to the Initial Purchasers letters, dated the respective dates of
         delivery thereof, in form and substance satisfactory to the Initial
         Purchasers, containing statements and information of the type
         customarily included in accountants "comfort letters" to the Initial
         Purchasers with respect to the financial statements and certain
         financial information contained in or incorporated by reference into
         the Offering Memorandum;

                  (k)  the Offering Agreements shall have been executed and
         delivered by the Company and the Guarantors to the extent that each
         is a party thereto, the Registration Rights Agreement being
         substantially in the form attached hereto as Annex II;

                  (l)   the Initial Purchasers shall have received on and as of
         the Closing Date an opinion of Latham & Watkins LLP, counsel to the
         Initial Purchasers, with respect to the validity of the Indenture and
         the Securities, and such other related matters as the Initial
         Purchasers may reasonably request, and such counsel shall have
         received such papers and information as they may reasonably request
         to enable them to pass upon such matters;

                  (m)   the Trustee shall have received evidence reasonably
         satisfactory to the Trustee that the Trustee shall have "control"
         (within the meaning of Section 9-104 of the Uniform Commercial Code)
         over any deposit accounts included in the Collateral (subject to the
         Permitted Liens);

                  (n)   the Initial Purchasers shall have received copies of the
         security documents creating the Priority Liens in form and substance
         satisfactory to the Initial Purchasers and their counsel; and

                  (o)   on or prior to the Closing Date, the Company shall have
         furnished to the Initial Purchasers such further certificates and
         documents as the Initial Purchasers shall reasonably request.

         7.   Indemnification and Contribution

                                      17

<PAGE>

                  (a)   The Company and each Guarantor, hereby agree, jointly
         and severally, to indemnify and hold harmless each Initial Purchaser,
         its directors, officers and employees and each person, if any, who
         controls any Initial Purchaser within the meaning of the Act, from
         and against any loss, claim, damage or liability, joint or several,
         or any action in respect thereof (including, but not limited to, any
         loss, claim, damage, liability or action relating to purchases and
         sales of Securities), to which that Initial Purchaser, director,
         officer, employee or controlling person may become subject, under the
         Act or otherwise, insofar as such loss, claim, damage, liability or
         action arises out of, or is based upon, (i) any untrue statement or
         alleged untrue statement of a material fact contained (A) in any
         Preliminary Offering Memorandum or the Offering Memorandum or in any
         amendment or supplement thereto or (B) in any materials or
         information provided to investors by, or with the approval of, the
         Company in connection with the marketing of the offering of the
         Securities ("Marketing Materials"), including any roadshow or
         investor presentations made to investors by the Company (whether in
         person or electronically, (ii) the omission or alleged omission to
         state in any Preliminary Offering Memorandum or the Offering
         Memorandum, or in any amendment or supplement thereto, or in any
         Marketing Materials, any material fact required to be stated therein
         or necessary in order to make the statements therein, in light of the
         circumstances under which they were made, not misleading or (iii) any
         act or failure to act or any alleged act or failure to act by any
         Initial Purchaser in connection with, or relating in any manner to,
         the Securities or the offering contemplated hereby, and that is
         included as part of or referred to in any loss, claim, damage,
         liability or action arising out of or based upon matters covered by
         clause (i) or (ii) above (provided that the Company and the
         Guarantors shall not be liable under this clause (iii) to the extent
         that it is determined in a final judgment by a court of competent
         jurisdiction that such loss, claim, damage, liability or action
         resulted directly from any such acts or failures to act undertaken or
         omitted to be taken by such Initial Purchaser through its gross
         negligence or willful misconduct), and shall reimburse each Initial
         Purchaser and each such director, officer, employee or controlling
         person promptly upon demand for any legal or other expenses
         reasonably incurred by that Initial Purchaser, director, officer,
         employee or controlling person in connection with investigating or
         defending or preparing to defend against any such loss, claim,
         damage, liability or action as such expenses are incurred; provided,
         however, that the Company and the Guarantors shall not be liable in
         any such case to the extent that any such loss, claim, damage,
         liability or action arises out of, or is based upon, any untrue
         statement or alleged untrue statement or omission or alleged omission
         made in any Preliminary Offering Memorandum or Offering Memorandum,
         or in any such amendment or supplement thereto, or in any Marketing
         Materials, in reliance upon and in conformity with written
         information concerning such Initial Purchaser furnished to the
         Company through the Initial Purchasers by or on behalf of any Initial
         Purchaser specifically for inclusion therein and; provided, further
         that with respect to any such untrue statement in or omission from
         any Preliminary Offering Memorandum, the indemnity agreement
         contained in this Section 7(a) shall not inure to the benefit of any
         Initial Purchaser to the extent that the sale to the person asserting
         any such loss, claim, damage or liability was an initial exempt
         resale by such Initial Purchaser and any such loss, claim, damage or
         liability of or with respect to such Initial Purchaser results from
         the fact that both (i) to the extent required by applicable law, a
         copy of the offering Memorandum was not sent or given to such person
         and (ii) the untrue statement in or omission from such Preliminary
         Offering Memorandum was corrected in the Offering Memorandum unless,
         in either case, such failure to deliver the Offering Memorandum was a
         result of the Company's or the Guarantors' failure to provide the
         Initial Purchasers sufficient quantities of the Offering Memorandum
         within a reasonable amount of time prior to such sale or such
         confirmation.. The foregoing indemnity agreement is in addition to
         any liability that the Company or the Guarantors may otherwise have
         to any Initial Purchaser or to any director, officer, employee or
         controlling person of that Initial Purchaser.

                                      18

<PAGE>

                  (b)   Each Initial Purchaser, severally and not jointly,
         hereby agrees to indemnify and hold harmless the Company, each
         Guarantor, their respective officers and employees, each of their
         respective directors, and each person, if any, who controls the
         Company or any Guarantor within the meaning of the Act, from and
         against any loss, claim, damage or liability, joint or several, or
         any action in respect thereof, to which the Company, any Guarantor or
         any such director, officer, employee or controlling person may become
         subject, under the Act or otherwise, insofar as such loss, claim,
         damage, liability or action arises out of, or is based upon, (i) any
         untrue statement or alleged untrue statement of a material fact
         contained in any Preliminary Offering Memorandum or the Offering
         Memorandum or in any amendment or supplement thereto or (ii) the
         omission or alleged omission to state in any Preliminary Offering
         Memorandum or the Offering Memorandum, or in any amendment or
         supplement thereto any material fact required to be stated therein or
         necessary to make the statements therein not misleading, but in each
         case only to the extent that the untrue statement or alleged untrue
         statement or omission or alleged omission was made in reliance upon
         and in conformity with written information concerning such Initial
         Purchaser furnished to the Company by or on behalf of that Initial
         Purchaser specifically for inclusion therein, and shall reimburse the
         Company, any Guarantor and any such director, officer, employee or
         controlling person for any legal or other expenses reasonably
         incurred by the Company, any Guarantor or any such director, officer,
         employee or controlling person in connection with investigating or
         defending or preparing to defend against any such loss, claim,
         damage, liability or action as such expenses are incurred. The
         foregoing indemnity agreement is in addition to any liability that
         any Initial Purchaser may otherwise have to the Company, any
         Guarantor or any such director, officer, employee or controlling
         person.

                  (c)   Promptly after receipt by an indemnified party under
         this Section 7 of notice of any claim or the commencement of any
         action, the indemnified party shall, if a claim in respect thereof is
         to be made against the indemnifying party under this Section 7,
         notify the indemnifying party in writing of the claim or the
         commencement of that action; provided, however, that the failure to
         notify the indemnifying party shall not relieve it from any liability
         that it may have under this Section 7 except to the extent it has
         been materially prejudiced by such failure and; provided, further,
         that the failure to notify the indemnifying party shall not relieve
         it from any liability that it may have to an indemnified party
         otherwise than under this Section 7. If any such claim or action
         shall be brought against an indemnified party, and it shall notify
         the indemnifying party thereof, the indemnifying party shall be
         entitled to participate therein and, to the extent that it wishes,
         jointly with any other similarly notified indemnifying party, to
         assume the defense thereof with counsel reasonably satisfactory to
         the indemnified party. After notice from the indemnifying party to
         the indemnified party of its election to assume the defense of such
         claim or action, the indemnifying party shall not be liable to the
         indemnified party under this Section 7 for any legal or other
         expenses subsequently incurred by the indemnified party in connection
         with the defense thereof other than reasonable costs of
         investigation; provided, however, that the Initial Purchasers shall
         have the right to employ counsel to represent jointly the Initial
         Purchasers and those Initial Purchasers and their respective
         directors, officers, employees and controlling persons who may be
         subject to liability arising out of any claim in respect of which
         indemnity may be sought by the Initial Purchasers against the Company
         or any Guarantor under this Section 7 if, in the reasonable judgment
         of the Initial Purchasers, it is advisable for the Initial Purchasers
         and those directors, officers, employees and controlling persons to
         be jointly represented by separate counsel, and in that event the
         fees and expenses of such separate counsel shall be paid by the
         Company or any Guarantor. No indemnifying party shall (i) without the
         prior written consent of the indemnified parties (which consent shall
         not be unreasonably withheld), settle or compromise or consent to the
         entry of any judgment with respect to any pending or threatened
         claim, action, suit or proceeding in respect of which indemnification
         or contribution may be sought hereunder (whether or not the
         indemnified parties are actual or potential parties to such claim or
         action)

                                      19

<PAGE>

         unless such settlement, compromise or consent includes an
         unconditional release of each indemnified party from all liability
         arising out of such claim, action, suit or proceeding, or (ii) be
         liable for any settlement of any such action effected without its
         written consent (which consent shall not be unreasonably withheld),
         but if settled with the consent of the indemnifying party or if there
         be a final judgment of the plaintiff in any such action, the
         indemnifying party agrees to indemnify and hold harmless any
         indemnified party from and against any loss or liability by reason of
         such settlement or judgment.

                  (d)   If the indemnification provided for in this Section 7
         shall for any reason be unavailable to or insufficient to hold
         harmless an indemnified party under Section 7(a) or 7(b) in respect
         of any loss, claim, damage or liability, or any action in respect
         thereof, referred to therein, then each indemnifying party shall, in
         lieu of indemnifying such indemnified party, contribute to the amount
         paid or payable by such indemnified party as a result of such loss,
         claim, damage or liability, or action in respect thereof, (i) in such
         proportion as shall be appropriate to reflect the relative benefits
         received by the Company and the Guarantors on the one hand and the
         Initial Purchasers on the other from the offering of the Securities
         or (ii) if the allocation provided by clause (i) above is not
         permitted by applicable law, in such proportion as is appropriate to
         reflect not only the relative benefits referred to in clause (i)
         above but also the relative fault of the Company and the Guarantors,
         on the one hand, and the Initial Purchasers on the other with respect
         to the statements or omissions that resulted in such loss, claim,
         damage or liability, or action in respect thereof, as well as any
         other relevant equitable considerations. The relative benefits
         received by the Company and the Guarantors, on the one hand, and the
         Initial Purchasers on the other with respect to such offering shall
         be deemed to be in the same proportion as the total net proceeds from
         the offering of the Securities purchased under this Agreement (before
         deducting expenses) received by the Company and the Guarantors on the
         one hand, and the total underwriting discounts and commissions
         received by the Initial Purchasers with respect to the Securities
         purchased under this Agreement, on the other hand, bear to the total
         gross proceeds from the offering of the Securities under this
         Agreement as set forth on the cover page of the Offering Memorandum.
         The relative fault shall be determined by reference to whether the
         untrue or alleged untrue statement of a material fact or omission or
         alleged omission to state a material fact relates to information
         supplied by the Company, the Guarantors or the Initial Purchasers,
         the intent of the parties and their relative knowledge, access to
         information and opportunity to correct or prevent such statement or
         omission. For purposes of the preceding two sentences, the net
         proceeds deemed to be received by the Company shall be deemed to be
         also for the benefit of the Guarantors and information supplied by
         the Company shall also be deemed to have been supplied by the
         Guarantors. The Company, the Guarantors, and the Initial Purchasers
         agree that it would not be just and equitable if contributions
         pursuant to this Section 7(d) were to be determined by pro rata
         allocation (even if the Initial Purchasers were treated as one entity
         for such purpose) or by any other method of allocation that does not
         take into account the equitable considerations referred to herein.
         The amount paid or payable by an indemnified party as a result of the
         loss, claim, damage or liability, or action in respect thereof,
         referred to above in this Section 7(d) shall be deemed to include,
         for purposes of this Section 7(d), any legal or other expenses
         reasonably incurred by such indemnified party in connection with
         investigating or defending any such action or claim. Notwithstanding
         the provisions of this Section 7(d), no Initial Purchaser shall be
         required to contribute any amount in excess of the amount by which
         the total price at which the Securities initially purchased by it
         were offered to the Eligible Purchasers exceeds the amount of any
         damages that such Initial Purchaser has otherwise paid or become
         liable to pay by reason of any untrue or alleged untrue statement or
         omission or alleged omission. No person guilty of fraudulent
         misrepresentation (within the meaning of Section 11(f) of the Act)
         shall be entitled to contribution from any person who was not guilty
         of such fraudulent misrepresentation. The

                                      20

<PAGE>

         Initial Purchasers' obligations to contribute as provided in this
         Section 7(d) are several in proportion to their respective
         underwriting obligations and not joint.

                  (e)   Each of the Initial Purchasers severally confirms and
         the Company and each of the Guarantors, acknowledges that the
         information set forth in the 3rd paragraph, the 5th sentence of the
         6th paragraph, 7th paragraph and 10th paragraph under the caption
         "Plan of Distribution" in the Offering Memorandum constitute the only
         information concerning the Initial Purchasers furnished in writing to
         the Company by or on behalf of the several Initial Purchasers
         specifically for inclusion in the Offering Memorandum.

         8.    Defaulting Initial Purchasers

                  (a)   If, on the Closing Date, any Initial Purchaser defaults
         in the performance of its obligations under this Agreement, the
         remaining non-defaulting Initial Purchaser shall be obligated to
         purchase the Securities that the defaulting Initial Purchaser agreed
         but failed to purchase on the Closing Date in the respective
         proportions that the number of Securities set opposite the name of
         each remaining non-defaulting Initial Purchaser in Schedule C hereto
         bears to the total number of Securities set opposite the names of all
         the remaining non-defaulting Initial Purchasers in Schedule C hereto;
         provided, however, that the remaining non-defaulting Initial
         Purchaser shall not be obligated to purchase any of the Securities on
         the Closing Date if the total number of Securities that the
         defaulting Initial Purchaser agreed but failed to purchase on such
         date exceeds 9.09% of the total number of Securities to be purchased
         on the Closing Date, and any remaining non-defaulting Initial
         Purchaser shall not be obligated to purchase more than 110% of the
         number of Securities that it agreed to purchase on the Closing Date
         pursuant to the terms of Section 3. If the foregoing maximums are
         exceeded, the remaining non-defaulting Initial Purchaser, or those
         other Initial Purchasers satisfactory to the Initial Purchasers who
         so agree, shall have the right, but shall not be obligated, to
         purchase, in such proportion as may be agreed upon among them, all
         the Securities to be purchased on the Closing Date. If the remaining
         Initial Purchaser or other Initial Purchasers satisfactory to the
         Initial Purchasers do not elect to purchase the Securities that the
         defaulting Initial Purchaser agreed but failed to purchase on the
         Closing Date, this Agreement shall terminate without liability on the
         part of any non-defaulting Initial Purchaser or the Company or the
         Guarantors, except that the Company and the Guarantors will continue
         to be liable for the payment of expenses to the extent set forth in
         Sections 6 and 11.

                  (b)   Nothing contained herein shall relieve a defaulting
         Initial Purchaser of any liability it may have to the Company or any
         Guarantor for damages caused by its default. If other Initial
         Purchasers are obligated or agree to purchase the Securities of a
         defaulting or withdrawing Initial Purchaser, either the remaining
         Initial Purchaser or the Company may postpone the Closing Date for up
         to seven full business days in order to effect any changes that in
         the opinion of counsel for the Company or counsel for the Initial
         Purchasers may be necessary in the Offering Memorandum or in any
         other document or arrangement.

         9.   Notwithstanding anything herein contained, this Agreement may be
terminated in the absolute discretion of the Initial Purchasers, by notice
given to the Company, if after the execution and delivery of this Agreement
(i) trading in securities generally on the New York Stock Exchange, the
American Stock Exchange, the Chicago Board Options Exchange, the Chicago
Mercantile Exchange or in the over-the-counter market, or trading of any
securities of or guaranteed by the Company on any exchange or in the
over-the-counter market, shall have been suspended or the settlement of such
trading generally shall have been materially disrupted or minimum prices shall
have been established on any such exchange or such market by the Commission,
by such exchange or by any other regulatory body or governmental authority
having jurisdiction, (ii) a banking moratorium shall have been declared by
either

                                      21

<PAGE>

Federal or state authorities or (iii) there shall have occurred (A)
such a material adverse change in general economic, political or financial
conditions (or the effect of international conditions on the financial markets
in the United States shall be such), including, without limitation, as a
result of terrorist activities, (B) an engagement of the United States in
hostilities (other than in Iraq or Afghanistan), (C) an escalation in
hostilities involving the United States, (D) a declaration of a national
emergency or war by the United States or (E) any calamity or crisis, after the
date hereof, as to make it, in the judgment of the Initial Purchasers,
impracticable or inadvisable to market the Securities on the terms and in the
manner contemplated in the Offering Memorandum.

         10.   This Agreement shall become effective upon the execution and
delivery hereof by the parties hereto.

         11.   If this Agreement shall be terminated by the Initial Purchasers,
because of any failure or refusal on the part of any of the Issuers to comply
with the terms or to fulfill any of the conditions of this Agreement, or if
for any reason any of the Issuers shall be unable to perform its obligations
under this Agreement or any condition of the Initial Purchasers' obligations
cannot be fulfilled other than solely by reason of a default by the Initial
Purchasers in payment for the Securities on the Closing Date, the Company
agrees to reimburse each Initial Purchaser for all out-of-pocket expenses
(including the fees and expenses of its counsel) reasonably incurred by such
Initial Purchaser in connection with this Agreement or the offering
contemplated hereunder.

         12.   This Agreement shall inure to the benefit of and be binding upon
the Company, the several Initial Purchasers, any controlling persons referred
to herein and their respective successors and assigns. Nothing in this
Agreement is intended or shall be construed to give any other person, firm or
corporation any legal or equitable right, remedy or claim under or in respect
of this Agreement or any provision herein contained. No purchaser of
Securities from the Initial Purchasers shall be deemed to be a successor by
reason merely of such purchase.

         13.   All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted
by any standard form of telecommunication. Notices to the Initial Purchasers
shall be given to them at the following address: Lehman Brothers Inc., 101
Hudson Street, Jersey City, New Jersey 07302; Attention: Syndicate Department,
(Fax: (201) 524-5980). Notices to the Company shall be given to them at the
following address: Tekni-Plex, Inc., 201 Industrial Parkway, Somerville, New
Jersey 08876; Attention: Dr. F. Patrick Smith; with a copy to Davis Polk &
Wardwell, 450 Lexington Avenue, New York, NY 10017; Attention: Francis
Morison, Esq.

         14.   This Agreement may be signed in counterparts, each of which shall
be an original and all of which together shall constitute one and the same
instrument.

         15.   Pursuant to Section 5-1401 of the General Obligations Laws of the
State of New York, this Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without giving effect to
any other conflicts of laws provisions.

                                      22

<PAGE>

         If the foregoing is in accordance with your understanding, please sign
and return four counterparts hereof.

                                            Very truly yours,

                                            TEKNI-PLEX, INC.

                                            By: /s/ F. Patrick Smith
                                                -------------------------------
                                                Name:  F. Patrick Smith
                                                Title: Chief Executive Officer

Accepted:  November 12, 2003
LEHMAN BROTHERS INC.

By: /s/ Michael Konigsberg
   ---------------------------
   Name:  Michael Konigsberg
   Title: Managing Director

Accepted:  November 12, 2003
CITIGROUP GLOBAL MARKETS INC.

By: /s/ Thomas Faherty
   -----------------------
   Name:  Thomas Faherty
   Title: Vice President

<PAGE>

         Each of the undersigned by its execution hereof agrees to become a
party to this Agreement as a Guarantor as of the date set forth above:

                         PURETEC CORPORATION
                         PLASTIC SPECIALTIES AND TECHNOLOGIES, INC.
                         PLASTIC SPECIALTIES AND TECHNOLOGIES INVESTMENTS, INC.
                         BURLINGTON RESINS, INC.
                         DISTRIBUTORS RECYCLING, INC.
                         REI DISTRIBUTORS, INC.
                         ALUMET SMELTING CORP
                         NATVAR HOLDINGS, INC
                         TRI-SEAL HOLDINGS, INC
                         TP-ELM ACQUISITION SUBSIDIARY, INC.
                         TPI Acquisition Subsidiary, Inc.
                                  collectively, the Guarantors

                         By: /s/ Kenneth W.R. Baker
                             ------------------------------
                             Name:  Kenneth W.R. Baker
                             Title: President and Chief Operating Officer

<PAGE>

                                                                       ANNEX I

                  (A) In addition to offers pursuant to clause (B)(1) of
         paragraph 2(ii) of the Agreement, the Initial Purchasers intend to
         offer and sell the Securities in accordance with Regulation S under
         the Act. Accordingly, each of the Initial Purchasers severally agrees
         that neither it, its affiliates nor any persons acting on its or their
         behalf has engaged or will engage in any directed selling efforts
         within the meaning of Rule 902 under the Act with respect to the
         Securities and it and they have complied and will comply with the
         offering restrictions requirement of Regulation S. Each of the Initial
         Purchasers severally agrees that, at or prior to confirmation of sale
         of Securities (other than a sale pursuant to and in accordance with
         paragraph 2(ii) of the Agreement to purchasers described in clause
         (B)(1) thereof), it will have sent to each distributor, dealer or
         person receiving a selling concession, fee or other remuneration that
         purchases Securities from it during the restricted period a
         confirmation or notice to substantially the following effect:

                           "The Securities covered hereby have not been
                  registered under the United States Securities Act of 1933, as
                  amended (the "Act"), and may not be offered, sold or
                  delivered within the United States or to, or for the account
                  or benefit of, U.S. persons (i) as part of their distribution
                  at any time or (ii) otherwise until 40 days after the later
                  of the commencement of the offering and the closing date,
                  except in either case in accordance with Regulation S (or
                  Rule 144A if available) under the Act. Terms used above have
                  the meaning given to them by Regulation S."

         Terms used in this paragraph have the meanings given to them by
         Regulation S.

                  Each of the Initial Purchasers severally agrees that it has
         not entered and will not enter into any contractual arrangement with
         respect to the distribution or delivery of the Securities in
         accordance with this paragraph (A), except with its affiliates or with
         the prior written consent of the Company.

                  (B) Each of the Initial Purchasers severally represents and
         agrees that (i) it has not offered or sold, and prior to the date six
         months after the Closing Date will not offer or sell any Securities to
         persons in the United Kingdom except to persons whose ordinary
         activities involve them in acquiring, holding, managing or disposing
         of investments (as principal or agent) for the purposes of their
         businesses or otherwise in circumstances which have not resulted and
         will not result in an offer to the public in the United Kingdom within
         the meaning of the Public Offers of Securities Regulations 1995, (ii)
         it has complied, and will comply, with all applicable provisions of
         the Financial Services Act 1986 with respect to anything done by it in
         relation to the Securities in, from or otherwise involving the United
         Kingdom, and (iii) it has only issued or passed on, and will only
         issue or pass on, in the United Kingdom, any document received by it
         in connection with the issuance of the Securities to a person who -is
         of a kind described in Article 11(3) of the Financial Services Act
         1986 (Investment Advertisements) (Exemptions) Order 1996 or is a
         person to whom such document may otherwise lawfully be issued or
         passed on.

                  (C) Each of the Initial Purchasers severally agrees that it
         will not directly or indirectly offer, sell or deliver any of the
         Securities or distribute any offering memorandum, prospectus or other
         document or information in any jurisdiction outside the United States
         except under circumstances that will result in compliance with the
         applicable laws thereof, and that it will take at its own expense
         whatever action is required to permit its purchase and resale of the
         Securities in such jurisdictions. The Initial Purchasers understand
         that no action has been taken

                                    A-I-1

<PAGE>

         by the Company to permit a public offering in any jurisdiction
         outside the United States where action would be required for such
         purposes. Each of the Initial Purchasers severally agrees not to
         cause any advertisement of the Securities to be published in any
         newspaper or periodical or posted in any public place and not to
         issue any circular relating to the Securities in any jurisdiction
         outside of the United States. Without prejudice to the generality of
         the foregoing, the Initial Purchasers are not authorized to give any
         information or to make any representation in connection with the
         offering or sale of the Securities other than those contained in the
         Offering Memorandum.

                                    A-I-2

<PAGE>

                                                                      ANNEX II

                    [Form of Registration Rights Agreement]

                                    A-II-1

<PAGE>

                                                                    SCHEDULE A

                   Schedule of Real Property to be Mortgaged

1.    252 Hosea Road
      Lawrenceville, Georgia 30245
      County: Gwinnett

2.    1060 Route 10 East
      Clinton, Illinois 61727
      County: DeWitt

3.    9509 and 9611 Winona Avenue
      Schiller Park, Illinois
      County: Cook

4.    2110 Patterson Street
      Decatur, Indiana
      County: Adams

5.    36 Beverly Road
      Burlington, New Jersey 08016
      County: Burlington

6.    112 Church Street
      Flemington, New Jersey 08822
      County: Hunterdon

7.    101 Railroad Avenue
      Ridgefield, New Jersey 07657
      County: Bergen

8.    18 Green Pond Road
      Rockaway, New Jersey 07866
      County: Morris

9.    201 Industrial Parkway
      Somerville, New Jersey 08876
      County: Somerset

10.   8720 U.S. Highway 70
      Clayton, North Carolina 27520
      County: Johnston

11.   102 Airport Road
      McKenzie, Tennessee 38201
      County: Carroll

12.   700 Jewel Drive
      Waco, Texas 76712
      County: McLennan

13.   1121 South Columbia Street
      Wenatchee, Washington 98801
      County: Chelan

                                    S-A-1

<PAGE>

14.   4700 South Westmoreland Road
      Dallas, Texas
      County: Dallas

15.   201 East Beal Avenue
      Bucyrus, Ohio
      County: Crawford

                                    S-A-2

<PAGE>

                                                                    SCHEDULE B

Domestic Subsidiaries

PureTec Corporation (Delaware)
Plastic Specialties and Technologies. Inc. (Delaware)
Plastic Specialties and Technologies Investments, Inc. (Delaware)
Burlington Resins, Inc. (Delaware)
Distributors Recycling, Inc. (New Jersey)
REI Distributors Inc. (New Jersey)
Alumet Smelting Corporation (New Jersey)*
Natvar Holdings, Inc. (Delaware)
Tri-Seal Holdings, Inc. (Delaware)
TP-Elm Acquisition Subsidiary, Inc. (Delaware)
TPI Acquisition Subsidiary, Inc. (Delaware)
Pure Tech APR, Inc. (New York)*
Coast Recycling North, Inc. (California)*
Pure Tech Recycling of California (California)*

Foreign Subsidiaries

PurePlast Acquisition Limited (Nova Scotia)
PurePlast Inc. (Ontario)
Tekni-Plex Europe, N.V. (Belgium)
Action Technology Italia S.p.A (Italy)
Colorite Europe, Ltd. (Northern Ireland)
Colorite Plastics Canada Ltd. (Ontario)
Tekni-Plex Holdings (Canada) Ltd. (Nova Scotia)
Tekni-Plex Argentina, S.A. (Argentina)
Tekni-Plex, Inc. (Singapore)

___________________________

*   De minimus Subsidiary

                                     S-B

<PAGE>

                                                                    SCHEDULE C

                                                             Principal Amount
                              Initial Purchasers                 of Notes
                              ------------------             -----------------
Lehman Brothers. Inc.................................           $165,000,000
Citigroup Global Markets Inc.........................           $110,000,000
Total................................................           $275,000,000

                                     S-C

<PAGE>

                                                                    SCHEDULE D

                  1. Credit Agreement dated as of June 21, 2000 among
         Tekni-Plex, Inc., the Guarantors party thereto, the Lendors party
         thereto, the LC Issuing Banks referred to therein and Morgan Guaranty
         Trust Company of New York, as Agent, as amended thereafter.

                  2. Security Agreement dated as of June 21, 2000 between
         Tekni-Plex, Inc., and Morgan Guaranty Trust Company of New York, as
         Agent.

                  3. Pledge Agreement dated as of June 21, 2000 between
         Tekni-Plex, Inc. and Morgan Guaranty Trust Company of New York, as
         Agent.

                  4. The Mortgages, as defined in the Credit Agreement dated as
         of June 21, 2000 among Tekni-Plex, Inc., the Guarantors party thereto,
         the Lendors party thereto, the LC Issuing Banks referred to therein
         and Morgan Guaranty Trust Company of New York, as Agent.

                  5. The Indenture dated as of June 21, 2000 among Tekni-Plex,
         Inc., the Guarantors party thereto and HSBC Bank USA, as Trustee.

                  6. The Supplemental Indenture dated as of May 6, 2002 among
         Tekni-Plex, Inc., TPI Acquisition Subsidiary, Inc. and HSBC Bank USA,
         as Trustee.

                  7. The Second Supplemental Indenture dated as of August 22,
         2002 among Tekni-Plex, Inc., TPI/Elm Acquisition Subsidiary and HSBC
         Bank USA, as Trustee

                  8. Recapitalization Agreement dated as of April 12, 2000
         among Tekni-Plex, Inc., Tekni-Plex Partners LLC, MST/TP Partners L.P.,
         MST/TP Holding, Inc., MST Partners, L.P., MST Offshore Partners C.V.,
         MST Management, L.P., MST Offshore Management N.V., Weston Presidio
         Offshore Capital C.V., Weston Presidio Capital III L.P., WPC
         Entrepreneur Fund L.P., SBIC Partners L.P., J.P. Morgan Capital
         Corporation, Tekni-Plex Management LLC, Dr. F. Patrick Smith, Kenneth
         W.R. Baker, Arthur P. Witt and William L. Daugherty, and for certain
         purposes, Gregory J. Forrest, J. Andrew McWethy, Stephen R. Rusmisel,
         Barry A. Solomon and Stephen A. Tuttle.

                  9. Investor Purchase Agreement dated as of April 12, 2000
         among Tekni-Plex Partners LLC, J.P. Morgan Capital Corporation, Weston
         Presidio Capital III L.P., WPC Entrepreneur Fund L.P., Tekni-Plex
         Management LLC, Dr. F. Patrick Smith, Arthur P. Witt, Kenneth W.R.
         Baker and for purposes of Section 4(d), Tekni-Plex, Inc.

                  10. Investors' Agreement dated as of June 21, 2000 among
         Tekni-Plex, Inc., Tekni-Plex Partners LLC, MST/TP Partners LLC, Dr. F.
         Patrick Smith, Michael F. Cronin and Tekni-Plex Management LLC.

                                      S-DExhibit 4.3

                                                                  EXECUTION COPY

                          REGISTRATION RIGHTS AGREEMENT

                          Dated as of November 21, 2003
                                  by and among

                                Tekni-Plex, Inc.
                           The Guarantors named herein

                                       and

                              Lehman Brothers Inc.
                          Citigroup Global Markets Inc.

--------------------------------------------------------------------------------

<PAGE>

         This Registration Rights Agreement (this "Agreement") is made and
entered into as of November 21, 2003, by and among Tekni-Plex, Inc., a Delaware
corporation (the "Company"), each of the subsidiaries of the Company listed on
the signature pages hereto (the "Guarantors"), and Lehman Brothers Inc. and
Citigroup Global Markets Inc. (each an "Initial Purchaser" and, collectively,
the "Initial Purchasers"), each of whom has agreed to purchase the Company's 8
3/4% Senior Secured Notes due 2013 (the "Initial Notes") pursuant to the
Purchase Agreement (as defined below).

         This Agreement is made pursuant to the Purchase Agreement, dated
November 12, 2003, (the "Purchase Agreement"), by and among the Company, the
Guarantors and the Initial Purchasers. In order to induce the Initial Purchasers
to purchase the Initial Notes, the Company has agreed to provide the
registration rights set forth in this Agreement. The execution and delivery of
this Agreement is a condition to the obligations of the Initial Purchasers set
forth in Section 6(k) of the Purchase Agreement. Capitalized terms used herein
and not otherwise defined shall have the meaning assigned to them in the
indenture, dated as of November 21, 2003 (the "Indenture"), by and among the
Company, the Guarantors and HSBC Bank USA, as Trustee, relating to the Exchange
Notes (as described below).

         The parties hereby agree as follows:

SECTION 1. DEFINITIONS

         As used in this Agreement, the following capitalized terms shall have
the following meanings:

         Act: The Securities Act of 1933, as amended.

         Affiliate: As defined in Rule 144.

         Affiliated Market Maker: A Broker-Dealer or one of its Affiliates who
is deemed to be an Affiliate of the Company and intends to make a market in the
Exchange Notes.

         Broker-Dealer: Any broker or dealer registered under the Exchange Act.

         Certificated Securities: Definitive Notes, as defined in the Indenture.

         Closing Date: The date hereof.

         Commission: The Securities and Exchange Commission.

         Consummate: An Exchange Offer shall be deemed "Consummated" for
purposes of this Agreement upon the occurrence of (a) the filing and
effectiveness under the Act of the Exchange Offer Registration Statement
relating to the Exchange Notes to be issued in the Exchange Offer, (b) the
keeping of the Exchange Offer open for a period not less than the period
required pursuant to Section 3(b) hereof and (c) the delivery by the Company to
the Registrar under the Indenture of Exchange Notes in the same aggregate
principal amount as the aggregate principal amount of Initial Notes validly
tendered and not withdrawn by Holders (as defined below) thereof pursuant to the
Exchange Offer.

<PAGE>

         Consummation Date: The date on which the Exchange Offer is Consummated.

         Consummation Deadline: As defined in Section 3(b) hereof.

         Effectiveness Deadline: As defined in Sections 3(a) and 4(a) hereof.

         Exchange Act: The Securities Exchange Act of 1934, as amended.

         Exchange Notes: The Company's 8 3/4% Senior Secured Notes due 2013 to
be issued pursuant to the Indenture: (i) in the Exchange Offer or (ii) as
contemplated by Section 4 hereof.

         Exchange Offer: The exchange and issuance by the Company of a principal
amount of Exchange Notes (which shall be registered pursuant to the Exchange
Offer Registration Statement) equal to the aggregate principal amount of Initial
Notes that are validly tendered and not withdrawn by in connection with such
exchange and issuance.

         Exchange Offer Registration Statement: The Registration Statement
relating to the Exchange Offer, including the related Prospectus.

         Exempt Resales: The transactions in which the Initial Purchasers
propose to sell the Initial Notes to certain "qualified institutional buyers,"
as such term is defined in Rule 144A under the Act and pursuant to Regulation S
under the Act.

         Filing Deadline: As defined in Sections 3(a) and 4(a) hereof.

         Holders: As defined in Section 2 hereof.

         Notes: The Initial Notes and the Exchange Notes together.

         Prospectus: The prospectus included in a Registration Statement at the
time such Registration Statement is declared effective, as amended or
supplemented by any prospectus supplement and by all other amendments thereto,
including post-effective amendments, and all material incorporated by reference
into such prospectus.

         Recommencement Date: As defined in Section 6(d) hereof.

         Registration Default: As defined in Section 5 hereof.

         Registration Statement: Any registration statement of the Company and
the Guarantors relating to (a) an offering of Exchange Notes pursuant to an
Exchange Offer or (b) the registration for resale of Transfer Restricted
Securities pursuant to the Shelf Registration Statement, in each case, (i) that
is filed pursuant to the provisions of this Agreement and (ii) including the
Prospectus included therein, all amendments and supplements thereto (including
post-effective amendments) and all exhibits and material incorporated by
reference therein.

         Regulation S: Regulation S promulgated under the Act.

         Rule 144: Rule 144 promulgated under the Act.

                                       3

<PAGE>

         Shelf Registration Statement: As defined in Section 4 hereof.

         Suspension Notice: As defined in Section 6(d) hereof.

         TIA: The Trust Indenture Act of 1939 (15 U.S.C. Section 77aaa-77bbbb),
as in effect on the date of the Indenture.

         Transfer Restricted Securities: Each Initial Note, until the earliest
to occur of (i) the date on which such Initial Note is exchanged in the Exchange
Offer for an Exchange Note, (ii) the date on which such Initial Note has been
disposed of in accordance with a Shelf Registration Statement (and the
purchasers thereof have been issued Exchange Notes), (iii) the date on which
such Initial Note is distributed to the public pursuant to Rule 144 under the
Act or (iv) following the exchange by a Broker-Dealer in the Exchange Offer of
an Initial Note for an Exchange Note, the date on which such Exchange Note is
sold to a purchaser who receives from such Broker-Dealer on or prior to the date
of such sale a copy of the Prospectus contained in the Exchange Offer
Registration Statement.

SECTION 2. HOLDERS

         A Person is deemed to be a holder of Transfer Restricted Securities
(each, a "Holder") whenever such Person is the holder of record of Transfer
Restricted Securities.

SECTION 3.  REGISTERED EXCHANGE OFFER

         (a) Unless the Exchange Offer shall not be permitted by applicable
federal law or Commission policy (after the procedures set forth in Section
6(a)(i) below have been complied with), the Company and the Guarantors shall (i)
cause the Exchange Offer Registration Statement to be filed with the Commission
as promptly as practicable after the Closing Date, but in no event later than 90
days after the Closing Date (such 90th day, the "Filing Deadline"), (ii) use all
commercially reasonable efforts to cause such Exchange Offer Registration
Statement to become effective as promptly as practicable, but in no event later
than 180 days after the Closing Date (such 180th day, the "Effectiveness
Deadline"), (iii) in connection with the foregoing, (A) file all pre-effective
amendments to such Exchange Offer Registration Statement as may be necessary in
order to cause it to become effective and (B) subject to the proviso in Section
6(c)(xii) hereof cause all necessary filings, if any, in connection with the
registration and qualification of the Exchange Notes to be made under the Blue
Sky laws of such jurisdictions as are necessary to permit Consummation of the
Exchange Offer, and (iv) upon the effectiveness of such Exchange Offer
Registration Statement, commence, within the time periods contemplated by
Section 3(b) hereof, and Consummate the Exchange Offer. The Exchange Offer shall
be on the appropriate form permitting (i) registration of the Exchange Notes to
be offered in exchange for the Initial Notes that are Transfer Restricted
Securities and (ii) resales of Exchange Notes by Broker-Dealers that tendered
into the Exchange Offer Initial Notes that such Broker-Dealer acquired for its
own account as a result of its market making activities or other trading
activities (other than Initial Notes acquired directly from the Company or any
of its Affiliates) as contemplated by Section 3(c) below.

         (b) The Company and the Guarantors shall use their respective
commercially reasonable efforts to cause the Exchange Offer Registration
Statement to be effective

                                       4

<PAGE>

continuously, and shall keep the Exchange Offer open for a period of not less
than the minimum period required under applicable federal and state securities
laws to Consummate the Exchange Offer; provided, however, that in no event shall
such period be less than 20 Business Days. The Company and the Guarantors shall
cause the Exchange Offer to comply with all applicable federal and state
securities laws. No securities other than the Exchange Notes (and the Guarantees
thereof) shall be included in the Exchange Offer Registration Statement. The
Company and the Guarantors shall use their commercially reasonable efforts to
cause the Exchange Offer to be Consummated within 30 Business Days after the
Exchange Offer Registration Statement has become effective, but in no event
later than 40 Business Days thereafter (such 40th day being the "Consummation
Deadline").

         (c) The Company shall include a "Plan of Distribution" section in the
Prospectus contained in the Exchange Offer Registration Statement and indicate
therein that any Broker-Dealer who holds Transfer Restricted Securities that
were acquired for the account of such Broker-Dealer as a result of market-making
activities or other trading activities (other than Initial Notes acquired
directly from the Company or any Affiliate of the Company), may exchange such
Transfer Restricted Securities pursuant to the Exchange Offer. Such "Plan of
Distribution" section shall also contain all other information with respect to
such sales by such Broker-Dealers that the Commission may require in order to
permit such sales pursuant thereto, but such "Plan of Distribution" shall not
name any such Broker-Dealer or disclose the amount of Transfer Restricted
Securities held by any such Broker-Dealer, except to the extent required by the
Commission.

         Because such Broker-Dealer may be deemed to be an "underwriter" within
the meaning of the Act and must, therefore, deliver a prospectus meeting the
requirements of the Act in connection with its initial sale of any Exchange
Notes received by such Broker-Dealer in the Exchange Offer, the Company and the
Guarantors shall permit the use of the Prospectus contained in the Exchange
Offer Registration Statement by such Broker-Dealer to satisfy such prospectus
delivery requirement. To the extent necessary to ensure that the Prospectus
contained in the Exchange Offer Registration Statement is available for sales of
Exchange Notes by Broker-Dealers, the Company and the Guarantors agree to use
their respective reasonable best efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented, amended and current as required
by and subject to the provisions of Sections 6(a) and (c) hereof and in
conformity with the requirements of this Agreement, the Act and the policies,
rules and regulations of the Commission as announced from time to time, for a
period of 180 days from the Consummation Date or such shorter period as will
terminate when no Transfer Restricted Securities are outstanding. The Company
and the Guarantors shall provide sufficient copies of the latest version of such
Prospectus to such Broker-Dealers, promptly upon request, at any time during
such period.

SECTION 4.  SHELF REGISTRATION

         (a) Shelf Registration. If (i) the Exchange Offer is not permitted by
applicable law or Commission Policy (after the Company and the Guarantors have
complied with the procedures set forth in Section 6(a)(i) below) or (ii) if any
Holder of Transfer Restricted Securities shall notify the Company within 20
Business Days following the Consummation Deadline that (A) such Holder was
prohibited by law or Commission policy from participating in the Exchange

                                       5

<PAGE>

Offer or (B) such Holder may not resell the Exchange Notes acquired by it in the
Exchange Offer to the public without delivering a prospectus and the Prospectus
contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales by such Holder or (C) such Holder is a Broker-Dealer
and owns Initial Notes acquired directly from the Company or any of its
Affiliates, the obligation of the Company to file a Shelf Registration Statement
(as defined below) shall arise on the earlier of (i) the date on which the
Company determines that the Exchange Offer Registration Statement cannot be
filed as a result of Section 4a(i) hereof or (ii) the date on which the Company
receives the notice specified in Section 4a(ii) hereof, and the Company and the
Guarantors shall use all commercially reasonable efforts to:

     (x) cause to be filed (i) on or prior to 90 days after the Closing Date, if
such filing obligation arises on or prior to 30 days after the Closing Date or
(ii) on or prior to 60 days after such filing obligation arises if such filing
obligation arises after 30 days after the Closing Date (such 90th day or such
60th day, as applicable in each case, the "Filing Deadline"), a shelf
registration statement (the "Shelf Registration Statement") pursuant to Rule 415
under the Act (which may be an amendment to the Exchange Offer Registration
Statement) relating to all Transfer Restricted Securities.

     (y) cause such Shelf Registration Statement to become effective on or prior
to 120 days after the obligation of the Company to file a Shelf Registration
Statement arises (such 120th day, the "Effectiveness Deadline") (clauses (x) and
(y) together, the "Shelf Registration").

         If, after the Company has filed an Exchange Offer Registration
Statement that satisfies the requirements of Section 3(a) above, the Company is
required to file and make effective a Shelf Registration Statement solely
because the Exchange Offer is not permitted under applicable federal law (i.e.,
clause (a)(i) above), then the filing of the Exchange Offer Registration
Statement shall be deemed to satisfy the requirements of clause (x) above;
provided that, in such event, the Company shall remain obligated to meet the
Effectiveness Deadline set forth in clause (y).

         To the extent necessary to ensure that the Shelf Registration Statement
is available for sales of Transfer Restricted Securities by the Holders thereof
entitled to the benefit of this Section 4(a) and the other securities required
to be registered therein pursuant to Section 6(b)(ii) hereof, the Company and
the Guarantors shall use their respective reasonable best efforts to keep any
Shelf Registration Statement required by this Section 4(a) continuously
effective, supplemented, amended and current as required by and subject to the
provisions of Sections 6(b) and (c) hereof and in conformity with the
requirements of this Agreement, the Act and the policies, rules and regulations
of the Commission as announced from time to time, for a period of at least two
years (as extended pursuant to Section 6(c)(i)) following the Closing Date, or
such shorter period as will terminate when all Transfer Restricted Securities
covered by such Shelf Registration Statement have been sold pursuant thereto.

        (b) Provision by Holders of Certain Information in Connection with the
Shelf Registration Statement. No Holder of Transfer Restricted Securities may
include any of its Transfer Restricted Securities in any Shelf Registration
Statement pursuant to this Agreement unless and until such Holder furnishes to
the Company in writing, within 20 days after receipt of a request therefor, the
information specified in Item 507 or 508 of Regulation S-K, as applicable,

                                       6

<PAGE>

of the Act for use in connection with any Shelf Registration Statement or
Prospectus or preliminary Prospectus included therein. No Holder of Transfer
Restricted Securities shall be entitled to liquidated damages pursuant to
Section 5 hereof unless and until such Holder shall have provided all such
information. Each selling Holder agrees to promptly furnish additional
information required to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially misleading.

        (c) If all holders of Transfer Restricted Securities (other than any
Broker-Dealer that is an Affiliate of the Company) do not give the written
notice within the 20 Business Day period set forth in Section 4(a)(ii) hereof,
if required to be given, then no Holders will have any registration rights
pursuant to this Section 4 and no Holders will be entitled to any liquidated
damages pursuant to Section 5 hereof in respect of the Company's obligations
with respect to the Shelf Registration Statement. Notwithstanding the foregoing,
no Broker-Dealer that is an Affiliate of the Company shall be required to give
such written notice in order to maintain its registration rights pursuant to
this Section 4. Holders of Transfer Restricted Securities that do not give the
written notice within the 20 Business Day period set forth in Section 4(a)(ii)
hereof, if required to be given, will not be entitled to any liquidated damages
pursuant to Section 5 hereof in respect of the Company's obligations with
respect to the Shelf Registration Statement unless they provide written notice
upon the earlier of (i) at least 24 hours prior to the filing of the Shelf
Registration Statement and (ii) the Filing Deadline referred to in Section
4(a)(ii)(x).

SECTION 5.  LIQUIDATED DAMAGES

         If (i) any Registration Statement required by this Agreement is not
filed with the Commission on or prior to the applicable Filing Deadline, (ii)
any such Registration Statement has not been declared effective by the
Commission on or prior to the applicable Effectiveness Deadline, (iii) the
Exchange Offer (if required) has not been Consummated on or prior to the
Consummation Deadline or (iv) any Shelf Registration Statement required by this
Agreement is filed and declared effective but shall thereafter cease to be
effective or fail to be usable for its intended purpose during the period it is
required to be effective pursuant to the terms hereof without being succeeded
immediately by a post-effective amendment to such Registration Statement that
cures such failure and that is itself declared effective immediately, subject to
the Suspension Rights discussed in this Section 5 below (each such event
referred to in clauses (i) through (iv), a "Registration Default"), then the
Company and the Guarantors hereby jointly and severally agree to pay to each
Holder of Transfer Restricted Securities affected thereby liquidated damages in
an amount equal to 0.25% per annum of the principal amount of Transfer
Restricted Securities held by such Holder for the first 90-day period
immediately following the occurrence of such Registration Default. The amount of
the liquidated damages shall increase by an additional 0.25% per annum of the
principal amount of Transfer Restricted Securities with respect to each
subsequent 90-day period until all Registration Defaults have been cured, up to
a maximum amount of liquidated damages of 1.00% per annum of the principal
amount of Transfer Restricted Securities held by such Holder; provided that the
Company and the Guarantors shall in no event be required to pay liquidated
damages for more than one Registration Default at any given time.
Notwithstanding anything to the contrary set forth herein, (1) upon filing of
the Exchange Offer Registration Statement (and/or, if applicable, the Shelf
Registration Statement), in the case of (i) above, (2) upon the effectiveness of
the Exchange Offer Registration Statement (and/or, if applicable, the Shelf
Registration Statement),

                                       7

<PAGE>

in the case of (ii) above, (3) upon Consummation of the Exchange Offer, in the
case of (iii) above, (4) upon the filing of a post-effective amendment to the
Registration Statement or an additional Registration Statement that causes the
Exchange Offer Registration Statement (and/or, if applicable, the Shelf
Registration Statement) to again be declared effective or made usable in the
case of (iv) above, or (5) if sooner, upon the first date on which no Transfer
Restricted Securities remain outstanding, in the case of clauses (i) through
(iv) above, the liquidated damages payable with respect to the Transfer
Restricted Securities as a result of such clause (i), (ii), (iii) or (iv), as
applicable, shall cease. Upon both the occurrence of a Registration Default and
any subsequent cure thereof, the Company shall promptly notify the Trustee
pursuant to the notification provisions contained in the Indenture.

         All accrued liquidated damages shall be paid to the Holders entitled
thereto, in the manner provided for the payment of interest in the Indenture, on
each Interest Payment Date, as more fully set forth in the Indenture and the
Notes. Notwithstanding the fact that any securities for which liquidated damages
are due cease to be Transfer Restricted Securities, all obligations of the
Company and the Guarantors to pay liquidated damages with respect to securities
that accrued prior to the time such securities ceased to be Transfer Restricted
Securities shall survive until such time as such obligations with respect to
such securities shall have been satisfied in full.

         The Company shall be permitted the suspend the use of the Prospectus
("Suspension Rights") in connection with a Shelf Registration Statement for one
or more periods not to exceed 45 days in any twelve-month period if the Company
determines that the continued effectiveness and/or use of the Shelf Registration
Statement would require the disclosure of confidential information or interfere
with any financing, acquisition, reorganization or other material transaction
involving the Company or any of its Affiliates. A suspension period shall
commence on the date that the Company gives notice thereof (which notice need
not explain the basis for such suspension) and continue until Holders of
Transfer Restricted Securities are advised in writing by the Company that use of
the Shelf Registration Statement may be permitted.

SECTION 6.  REGISTRATION PROCEDURES

     (a) Exchange Offer Registration Statement. In connection with the Exchange
Offer, the Company and the Guarantors shall (x) comply with all applicable
provisions of Section 6(c) below, (y) use their respective reasonable best
efforts to effect such exchange and to permit the resale of Exchange Notes by
Broker-Dealers that tendered in the Exchange Offer Initial Notes that such
Broker-Dealer acquired for its own account as a result of its market making
activities or other trading activities (other than Initial Notes acquired
directly from the Company or any of its Affiliates) being sold in accordance
with the intended method or methods of distribution thereof, and (z) comply with
all of the following provisions:

          (i) If, following the date hereof there has been announced a change in
     Commission policy with respect to exchange offers, such as the Exchange
     Offer, that, in the written opinion of counsel to the Company raises a
     substantial question as to whether the Exchange Offer is permitted by
     applicable federal law, the Company and the Guarantors hereby agree to seek
     a no-action letter or other favorable decision from the Commission allowing
     the Company and the Guarantors to Consummate an Exchange Offer for such
     Transfer Restricted Securities. The Company and the Guarantors hereby

                                       8

<PAGE>

     agree to use their respective reasonable best efforts to pursue the
     issuance of such a decision to the Commission staff level.

          (ii) As a condition to its participation in the Exchange Offer, each
     Holder of Transfer Restricted Securities (including, without limitation,
     any Holder who is a Broker Dealer) shall furnish, upon the request of the
     Company, prior to the Consummation of the Exchange Offer, a written
     representation to the Company and the Guarantors (which may be contained in
     the letter of transmittal contemplated by the Exchange Offer Registration
     Statement) to the effect that (A) it is not an Affiliate of the Company,
     (B) it is not engaged in, and does not intend to engage in, and has no
     arrangement or understanding with any person to participate in, a
     distribution of the Exchange Notes to be issued in the Exchange Offer and
     (C) it is acquiring the Exchange Notes in its ordinary course of business.
     As a condition to its participation in the Exchange Offer each Holder using
     the Exchange Offer to participate in a distribution of the Exchange Notes
     shall acknowledge and agree that, if the resales are of Exchange Notes
     obtained by such Holder in exchange for Initial Notes acquired directly
     from the Company or an Affiliate thereof, it (1) could not, under
     Commission policy as in effect on the date of this Agreement, rely on the
     position of the Commission enunciated in Morgan Stanley and Co., Inc.
     (available June 5, 1991) and Exxon Capital Holdings Corporation (available
     May 13, 1988), as interpreted in the Commission's letter to Shearman &
     Sterling dated July 2, 1993, and similar no-action letters (including, if
     applicable, any no-action letter obtained pursuant to clause (i) above),
     and (2) must comply with the registration and prospectus delivery
     requirements of the Act in connection with a secondary resale transaction
     and that such a secondary resale transaction must be covered by an
     effective registration statement containing the selling security holder
     information required by Item 507 or 508, as applicable, of Regulation S-K.

          (iii) Prior to effectiveness of the Exchange Offer Registration
     Statement, the Company and the Guarantors shall provide a supplemental
     letter to the Commission (A) stating that the Company and the Guarantors
     are registering the Exchange Offer in reliance on the position of the
     Commission enunciated in Exxon Capital Holdings Corporation (available May
     13, 1988), Morgan Stanley and Co., Inc. (available June 5, 1991) as
     interpreted in the Commission's letter to Shearman & Sterling dated July 2,
     1993, and, if applicable, any no-action letter obtained pursuant to clause
     (i) above, (B) including a representation that neither the Company nor any
     Guarantor has entered into any arrangement or understanding with any Person
     to distribute the Exchange Notes to be received in the Exchange Offer and
     that, to the best of the Company's and each Guarantor's information and
     belief, each Holder participating in the Exchange Offer is acquiring the
     Exchange Notes in its ordinary course of business and has no arrangement or
     understanding with any Person to participate in the distribution of the
     Exchange Notes received in the Exchange Offer and (C) any other undertaking
     or representation required by the Commission as set forth in any no-action
     letter obtained pursuant to clause (i) above, if applicable.

     (b) Shelf Registration Statement. In connection with the Shelf Registration
Statement, the Company and the Guarantors shall (i) comply with all the
provisions of Section 6(c) below and use their respective reasonable best
efforts to effect such registration to permit the sale of the

                                       9

<PAGE>

Transfer Restricted Securities being sold in accordance with the intended method
or methods of distribution thereof (as indicated in the information furnished to
the Company pursuant to Section 4(b) hereof), and pursuant thereto the Company
and the Guarantors will prepare and file with the Commission a Registration
Statement relating to the registration on any appropriate form under the Act,
which form shall be available for the sale of the Transfer Restricted Securities
in accordance with the intended method or methods of distribution thereof within
the time periods and otherwise in accordance with the provisions hereof, and

                  (ii) issue, upon the request of any Holder or purchaser of
          Initial Notes covered by any Shelf Registration Statement contemplated
          by this Agreement, Exchange Notes having an aggregate principal amount
          equal to the aggregate principal amount of Initial Notes sold pursuant
          to the Shelf Registration Statement and surrendered to the Company for
          cancellation; the Company shall register Exchange Notes on the Shelf
          Registration Statement for this purpose and issue the Exchange Notes
          to the purchaser(s) of securities subject to the Shelf Registration
          Statement in the names as such purchaser(s) shall designate.

     (c) General Provisions. In connection with any Registration Statement and
any related Prospectus required by this Agreement, the Company and the
Guarantors shall, during the periods specified in Sections 3 and 4, as
applicable:

          (i) use their respective reasonable best efforts to keep such
     Registration Statement continuously effective and provide all requisite
     financial statements for the period specified in Section 3 or 4 of this
     Agreement, as applicable. Upon the occurrence of any event that would cause
     any such Registration Statement or the Prospectus contained therein (A) to
     contain an untrue statement of material fact or omit to state any material
     fact necessary to make the statements therein, in the light of the
     circumstances under which they were made, not misleading or (B) not to be
     effective and usable for resale of Transfer Restricted Securities during
     the period required by this Agreement, the Company and the Guarantors shall
     file promptly an appropriate amendment to such Registration Statement or a
     supplement to the Prospectus, as applicable, curing such defect, and, in
     the case of an amendment, use their respective reasonable best efforts to
     cause such amendment to be declared effective as soon as practicable.

          (ii) prepare and file with the Commission such amendments and
     post-effective amendments to the applicable Registration Statement as may
     be necessary to keep such Registration Statement effective for the
     applicable period set forth in Section 3 or 4 hereof, as the case may be
     subject to the Suspension Rights; cause the Prospectus to be supplemented
     by any required Prospectus supplement, and as so supplemented to be filed
     pursuant to Rule 424 under the Act, and to comply fully with Rules 424,
     430A and 462, as applicable, under the Act in a timely manner; and comply
     with the provisions of the Act with respect to the disposition of all
     securities covered by such Registration Statement during the applicable
     period in accordance with the intended method or methods of distribution by
     the sellers thereof set forth in such Registration Statement or supplement
     to the Prospectus;

                                       10

<PAGE>

          (iii) advise (a) each Holder whose Transfer Restricted Securities have
     been included in a Shelf Registration Statement (in the case of the Shelf
     Registration Statement) (b) each Holder who has provided notice to the
     Company and (c) any Affiliated Market Maker promptly and, if requested by
     such Person, confirm such advice in writing, (A) when the Prospectus or any
     Prospectus supplement or post-effective amendment has been filed, and, with
     respect to any applicable Registration Statement or any post-effective
     amendment thereto, when the same has become effective, (B) of any request
     by the Commission for amendments to the Registration Statement or
     amendments or supplements to the Prospectus or for additional information
     relating thereto, (C) of the issuance by the Commission of any stop order
     suspending the effectiveness of the Registration Statement under the Act or
     of the suspension by any state securities commission of the qualification
     of the Transfer Restricted Securities for offering or sale in any
     jurisdiction, or the initiation of any proceeding for any of the preceding
     purposes, (D) of the existence of any fact or the happening of any event
     that makes any statement of a material fact made in the Registration
     Statement, the Prospectus, any amendment or supplement thereto or any
     document incorporated by reference therein untrue, or that requires the
     making of any additions to or changes in the Registration Statement in
     order to make the statements therein not misleading, or that requires the
     making of any additions to or changes in the Prospectus in order to make
     the statements therein, in the light of the circumstances under which they
     were made, not misleading. If at any time the Commission shall issue any
     stop order suspending the effectiveness of the Registration Statement, or
     any state securities commission or other regulatory authority shall issue
     an order suspending the qualification or exemption from qualification of
     the Transfer Restricted Securities under state securities or Blue Sky laws,
     the Company and the Guarantors shall use their respective best efforts to
     obtain the withdrawal or lifting of such order at the earliest possible
     time, subject to the Suspension Rights in which case the Company and the
     Guarantors shall use their respective reasonable best efforts to obtain the
     withdrawal or lifting of such order at the end of the suspension period
     related to such Suspension Rights or at the earliest possible time
     thereafter;

          (iv) subject to Section 6(d), if any fact or event contemplated by
     Section 6(c)(iii)(D) above shall exist or have occurred, prepare a
     supplement or post-effective amendment to the Registration Statement or
     related Prospectus or any document incorporated therein by reference or
     file any other required document so that, as thereafter delivered to the
     purchasers of Transfer Restricted Securities, the Prospectus will not
     contain an untrue statement of a material fact or omit to state any
     material fact necessary to make the statements therein, in the light of the
     circumstances under which they were made, not misleading;

          (v) furnish to each Holder whose Transfer Restricted Securities have
     been included in a Shelf Registration Statement (in the case of the Shelf
     Registration Statement) and each Affiliated Market Maker in connection with
     such exchange or sale, if any, before filing with the Commission, copies of
     any Registration Statement or any Prospectus included therein or any
     amendments or supplements to any such Registration Statement or Prospectus
     (including all documents incorporated by reference after the initial filing
     of such Registration Statement), which documents (other than Exchange Act
     reports incorporated by reference therein or files as supplements thereto)
     will be subject

                                       11

<PAGE>

     to the review and comment of such Holders in connection with such sale, if
     any, for a period of at least five Business Days, and the Company will not
     file any such Registration Statement or Prospectus or any amendment or
     supplement to any such Registration Statement or Prospectus (including all
     such documents incorporated by reference) to which such Holders shall
     reasonably object within five Business Days after the receipt thereof. A
     Holder shall be deemed to have reasonably objected to such filing if such
     Registration Statement, amendment, Prospectus or supplement, as applicable,
     as proposed to be filed, contains an untrue statement of a material fact or
     omits to state any material fact necessary to make the statements therein,
     in the light of the circumstances under which they were made, not
     misleading or fails to comply with the applicable requirements of the Act;

          (vi) promptly prior to the filing of any document that is to be
     incorporated by reference into a Registration Statement or Prospectus
     (other than Exchange Act reports), provide copies of such document to each
     Holder whose Transfer Restricted Securities have been included in a Shelf
     Registration Statement (in the case of the Shelf Registration Statement)
     and each Affiliated Market Maker in connection with such sale or exchange,
     if any, make the Company's and the Guarantors' representatives available
     for discussion of such document and other customary due diligence matters,
     and include such information in such document prior to the filing thereof
     as such Persons may reasonably request;

          (vii) make available, at reasonable times, for inspection by each
     Holder whose Transfer Restricted Securities have been included in a Shelf
     Registration Statement (in the case of the Shelf Registration Statement)
     and each Affiliated Market Maker and any attorney or accountant retained by
     such Persons, all financial and other records, pertinent corporate
     documents of the Company and the Guarantors and cause the Company's and the
     Guarantors' officers, directors and employees to supply all information
     reasonably requested by any such Persons, attorney or accountant in
     connection with such Registration Statement or any post-effective amendment
     thereto subsequent to the filing thereof and prior to its effectiveness;

          (viii) if requested by any Holders whose Transfer Restricted
     Securities have been included in a Shelf Registration Statement (in the
     case of the Shelf Registration Statement) and each Affiliated Market Maker
     in connection with such exchange or sale, promptly include in any
     Registration Statement or Prospectus, pursuant to a supplement or
     post-effective amendment if necessary, such information as such Persons may
     reasonably request to have included therein, including, without limitation,
     information relating to the "Plan of Distribution" of the Transfer
     Restricted Securities and the use of the Registration Statement or
     Prospectus for market-making activities; and make all required filings of
     such Prospectus supplement or post-effective amendment as soon as
     practicable after the Company is notified of the matters to be included in
     such Prospectus supplement or post-effective amendment;

          (ix) furnish to each Holder whose Transfer Restricted Securities have
     been included in a Shelf Registration Statement (in the case of the Shelf
     Registration Statement) in connection with such exchange or sale and each
     Affiliated Market Maker,

                                       12

<PAGE>

     without charge, at least one copy of the Registration Statement, as first
     filed with the Commission, and of each amendment thereto, including all
     documents incorporated by reference therein and all exhibits (including
     exhibits incorporated therein by reference);

          (x) deliver to each Holder whose Transfer Restricted Securities have
     been included in a Shelf Registration Statement (in the case of the Shelf
     Registration Statement) and each Affiliated Market Maker without charge, as
     many copies of the Prospectus (including each preliminary Prospectus) and
     any amendment or supplement thereto as such Persons reasonably may request;
     the Company and the Guarantors hereby consent to the use (in accordance
     with law and subject to Section 6(d) hereof and any Suspension Rights) of
     the Prospectus and any amendment or supplement thereto by each selling
     Person in connection with the offering and the sale of the Transfer
     Restricted Securities covered by the Prospectus or any amendment or
     supplement thereto and all market-making activities of such Affiliated
     Market Maker, as the case may be;

          (xi) upon the request of any Holder whose Transfer Restricted
     Securities have been included in a Shelf Registration Statement (in the
     case of a Shelf Registration Statement) or the Initial Purchasers, enter
     into such agreements (including underwriting agreements) and make such
     representations and warranties and take all such other actions in
     connection therewith in order to expedite or facilitate the disposition of
     the Transfer Restricted Securities pursuant to any applicable Registration
     Statement contemplated by this Agreement as may be reasonably requested by
     such Person in connection with any sale or resale pursuant to any
     applicable Registration Statement. In such connection, and also in
     connection with market-making activities by any Affiliated Market Maker,
     the Company and the Guarantors shall:

               (A) upon request of any Holder, furnish (or in the case of
          paragraphs (2) and (3), use their respective reasonable best efforts
          to cause to be furnished) to each Holder (in the case of the Shelf
          Registration Statement) and the Initial Purchasers, upon Consummation
          of the Exchange Offer or upon the effectiveness of the Shelf
          Registration Statement, as the case may be:

                    (1) a certificate, dated such date, signed on behalf of the
               Company and each Guarantor by (x) the President or any Vice
               President and (y) a principal financial or accounting officer of
               the Company and such Guarantor, confirming, as of the date
               thereof, the matters set forth in Section 6(d) of the Purchase
               Agreement and such other similar matters as such Persons may
               reasonably request;

                    (2) an opinion, dated the date of Consummation of the
               Exchange Offer or the date of effectiveness of the Shelf
               Registration Statement, as the case may be, of counsel for the
               Company and the Guarantors covering matters similar to those set
               forth in paragraph (h) of Section 6 of the Purchase Agreement and
               such other matter as such Holder may reasonably request, and in
               any event including a statement to the effect that such counsel
               has participated in conferences with officers and other
               representatives of the Company and the Guarantors,
               representatives

                                       13

<PAGE>

               of the independent public accountants for the Company and the
               Guarantors and have considered the matters required to be stated
               therein and the statements contained therein, although such
               counsel has not independently verified the accuracy, completeness
               or fairness of such statements; and that such counsel advises
               that, on the basis of the foregoing (relying as to materiality to
               the extent such counsel deems appropriate upon the statements of
               officers and other representatives of the Company and the
               Guarantors) and without independent check or verification), no
               facts came to such counsel's attention that caused such counsel
               to believe that the applicable Registration Statement, at the
               time such Registration Statement or any post-effective amendment
               thereto became effective and, in the case of the Exchange Offer
               Registration Statement, as of the date of Consummation of the
               Exchange Offer, contained an untrue statement of a material fact
               or omitted to state a material fact required to be stated therein
               or necessary to make the statements therein not misleading, or
               that the Prospectus contained in such Registration Statement as
               of its date and, in the case of the opinion dated the date of
               Consummation of the Exchange Offer, as of the date of
               Consummation, contained an untrue statement of a material fact or
               omitted to state a material fact necessary in order to make the
               statements therein, in the light of the circumstances under which
               they were made, not misleading. Without limiting the foregoing,
               such counsel may state further that such counsel expresses no
               belief as to, and has not independently verified, the accuracy,
               completeness or fairness of the financial statements, notes and
               schedules and other financial data derived therefrom in any
               Registration Statement contemplated by this Agreement or the
               related Prospectus; and

                    (3) a customary comfort letter, dated the date of
               Consummation of the Exchange Offer, or as of the date of
               effectiveness of the Shelf Registration Statement, as the case
               may be, from the Company's independent accountants, in the
               customary form and covering matters of the type customarily
               covered in comfort letters to underwriters in connection with
               underwritten offerings, and affirming the matters set forth in
               the comfort letters delivered pursuant to Section 6(j) of the
               Purchase Agreement; and

               (B) deliver such other documents and certificates as may be
          reasonably requested by such Persons to evidence compliance with the
          matters covered in clause (A) above and with any customary conditions
          contained in any agreement entered into by the Company and the
          Guarantors pursuant to this clause (xi);

          (xii) prior to any public offering of Transfer Restricted Securities,
     cooperate with the selling Holders and their counsel in connection with the
     registration and qualification of the Transfer Restricted Securities under
     the securities or Blue Sky laws of such jurisdictions as the selling
     Holders may request and do any and all other acts or things necessary or
     advisable to enable the disposition in such jurisdictions of the

                                       14

<PAGE>

     Transfer Restricted Securities covered by the applicable Registration
     Statement; provided, however, that neither the Company nor any Guarantor
     shall be required to register or qualify as a foreign corporation where it
     is not now so qualified or to take any action that would subject it to the
     service of process in suits or to taxation, other than as to matters and
     transactions relating to the Registration Statement, in any jurisdiction
     where it is not now so subject;

          (xiii) in connection with any sale of Transfer Restricted Securities
     that will result in such securities no longer being Transfer Restricted
     Securities, cooperate with the Holders to facilitate the timely preparation
     and delivery of certificates representing Transfer Restricted Securities to
     be sold and not bearing any restrictive legends; and to register such
     Transfer Restricted Securities in such denominations and such names as the
     selling Holders may request at least two Business Days prior to such sale
     of Transfer Restricted Securities;

          (xiv) use their respective reasonable best efforts to cause the
     disposition of the Transfer Restricted Securities covered by the
     Registration Statement to be registered with or approved by such other
     governmental agencies or authorities as may be necessary to enable the
     seller or sellers thereof to consummate the disposition of such Transfer
     Restricted Securities, subject to the proviso contained in clause (xii)
     above;

          (xv) provide a CUSIP number for all Transfer Restricted Securities not
     later than the effective date of a Registration Statement covering such
     Transfer Restricted Securities and provide the Trustee under the Indenture
     with printed certificates for the Transfer Restricted Securities which are
     in a form eligible for deposit with The Depository Trust Company;

          (xvi) otherwise use their respective reasonable best efforts to comply
     with all applicable rules and regulations of the Commission, and make
     generally available to its security holders with regard to any applicable
     Registration Statement, as soon as practicable, a consolidated earnings
     statement meeting the requirements of Rule 158 under the Act (which need
     not be audited) covering a twelve-month period beginning after the
     effective date of the Registration Statement (as such term is defined in
     paragraph (c) of Rule 158 under the Act); and

          (xvii) cause the Indenture to be qualified under the TIA not later
     than the effective date of the first Registration Statement required by
     this Agreement and, in connection therewith, cooperate with the Trustee and
     the Holders to effect such changes to the Indenture as may be required for
     such Indenture to be so qualified in accordance with the terms of the TIA;
     and execute and use its reasonable best efforts to cause the Trustee to
     execute, all documents that may be required to effect such changes and all
     other forms and documents required to be filed with the Commission to
     enable such Indenture to be so qualified in a timely manner.

     (d) Restrictions on Holders. Each Holder agrees by acquisition of a
Transfer Restricted Security and each Affiliated Market Maker agrees that, upon
receipt of the notice referred to in Section 6(c)(iii)(C) or any notice from the
Company of the existence of any fact of

                                       15

<PAGE>

the kind described in Section 6(c)(iii)(D) hereof or any notice of a Suspension
Right (in each case, a "Suspension Notice"), such Person will forthwith
discontinue disposition of Transfer Restricted Securities pursuant to the
applicable Registration Statement until (i) such Person has received copies of
the supplemented or amended Prospectus contemplated by Section 6(c)(iv) hereof,
or (ii) such Person is advised in writing by the Company that the use of the
Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus (in
each case, the "Recommencement Date"). Each Holder receiving a Suspension Notice
hereby agrees that it will either (i) destroy any Prospectuses, other than
permanent file copies, then in such Person's possession which have been replaced
by the Company with more recently dated Prospectuses or (ii) deliver to the
Company (at the Company's expense) all copies, other than permanent file copies,
then in such Person's possession of the Prospectus covering such Transfer
Restricted Securities that was current at the time of receipt of the Suspension
Notice. The time period regarding the effectiveness of such Registration
Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended
by a number of days equal to the number of days in the period from and including
the date of delivery of the Suspension Notice to the date of delivery of the
Recommencement Date.

SECTION 7.  REGISTRATION EXPENSES

         (a) All expenses incident to the Company's and the Guarantors'
performance of or compliance with this Agreement will be borne by the Company,
regardless of whether a Registration Statement becomes effective, including
without limitation: (i) all registration and filing fees and expenses; (ii) all
fees and expenses of compliance with federal securities and state Blue Sky or
securities laws; (iii) all expenses of printing (including printing certificates
for the Exchange Notes to be issued in the Exchange Offer and printing of
Prospectuses (whether for exchange, sales, market-making or otherwise),
messenger and delivery services and telephone; (iv) all fees and disbursements
of counsel for the Company, the Guarantors; (v) all fees and expenses of the
Trustee and any exchange agent and their counsels, (vi) all application and
filing fees in connection with listing the Exchange Notes on a national
securities exchange or automated quotation system pursuant to the requirements
hereof; and (vii) all fees and disbursements of independent certified public
accountants of the Company and the Guarantors (including the expenses of any
special audit and comfort letters required by or incident to such performance).

         The Company will, in any event, bear its and the Guarantors' internal
expenses (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties), the expenses of
any annual audit and the fees and expenses of any Person, including special
experts, retained by the Company and the Guarantors.

         (b) In connection with any Registration Statement required by this
Agreement, the Company and the Guarantors will reimburse the Initial Purchasers
and the Holders of Transfer Restricted Securities who are selling or reselling
Exchange Notes pursuant to the "Plan of Distribution" contained in the Exchange
Offer Registration Statement or the Shelf Registration Statement, as applicable,
for the reasonable fees and disbursements of not more than one counsel, who
shall be Latham & Watkins LLP or another firm shall be chosen by the Holders of

                                       16

<PAGE>

a majority in principal amount of the Transfer Restricted Securities for whose
benefit such Registration Statement is being prepared.

SECTION 8.  INDEMNIFICATION

         (a) The Company and the Guarantors agree, jointly and severally, to
indemnify and hold harmless each Holder, its directors, officers and each
Person, if any, who controls such Holder (within the meaning of Section 15 of
the Act or Section 20 of the Exchange Act), from and against any and all losses,
claims, damages, liabilities, judgments, (including without limitation, any
legal or other expenses incurred in connection with investigating or defending
any matter, including any action that could give rise to any such losses,
claims, damages, liabilities or judgments) caused by any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement, preliminary prospectus or Prospectus (or any amendment or supplement
thereto) provided by the Company to any Holder or any prospective purchaser of
Exchange Notes or registered Initial Notes, or caused by any omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading; provided, however, that
(i) the Company shall not be liable in any such case to the extent that such
loss, claim, damage or liability arises out of or is based upon any untrue
statement or alleged untrue statement or omission or alleged omission made in a
Registration Statement or prospectus or in any amendment or supplement thereto
or in any preliminary prospectus relating to a Shelf Registration in reliance
upon and in conformity with written information pertaining to such holder of
Notes and furnished to the Company by or on behalf of such holder specifically
for inclusion therein and (ii) with respect to any untrue statement or omission
or alleged untrue statement or omission made in any preliminary prospectus
relating to a Shelf Registration Statement, the indemnity agreement contained in
this subsection (a) shall not inure to the benefit of any holder of Notes or
Broker-Dealer from whom the person asserting any such losses, claims, damages or
liabilities purchased the Notes concerned, to the extent that a prospectus
relating to such Securities was required to be delivered by such holder or
Broker-Dealer under the Act in connection with such purchase and any such loss,
claim, damage or liability of such holder or Participating Broker-Dealer results
from the fact that there was not sent or given to such person, at or prior to
the written confirmation of the sale of such Securities to such person, a copy
of the final prospectus if the Company had previously furnished copies thereof
to such holder or Participating Broker-Dealer; provided further, however, that
this indemnity agreement will be in addition to any liability which the Company
may otherwise have to such Indemnified Party. The Company shall also indemnify
underwriters, their officers and directors and each person who controls such
underwriters within the meaning of the Act or the Exchange Act to the same
extent as provided above with respect to the indemnification of the holders of
the Notes if requested by such holders.

         (b) Each Holder of Transfer Restricted agrees, severally and not
jointly, to indemnify and hold harmless the Company and the Guarantors, and
their respective directors and officers, and each person, if any, who controls
(within the meaning of Section 15 of the Act or Section 20 of the Exchange Act)
the Company, or the Guarantors to the same extent as the foregoing indemnity
from the Company and the Guarantors set forth in section (a) above, but only
with reference to information relating to such Holder furnished in writing to
the Company by or on behalf of such Holder expressly for use in any Registration
Statement or Prospectus or any

                                       17

<PAGE>

amendment or supplement thereto. This indemnity agreement will be in addition to
any liability which such Holder may otherwise have to the Company or any of its
controlling persons.

             (c) In case any action shall be commenced involving any person in
respect of which indemnity may be sought pursuant to Section 8(a) or 8(b) (the
"indemnified party"), the indemnified party shall promptly notify the person
against whom such indemnity may be sought (the "indemnifying person") in writing
and the indemnifying party shall assume the defense of such action, including
the employment of counsel reasonably satisfactory to the indemnified party and
the payment of all fees and expenses of such counsel, as incurred (except that
in the case of any action in respect of which indemnity may be sought pursuant
to both Sections 8(a) and 8(b), a Holder shall not be required to assume the
defense of such action pursuant to this Section 8(c), but may employ separate
counsel and participate in the defense thereof, but the fees and expenses of
such counsel, except as provided below, shall be at the expense of the Holder).
Any indemnified party shall have the right to employ separate counsel in any
such action and participate in the defense thereof, but the fees and expenses of
such counsel shall be at the expense of the indemnified party unless (i) the
employment of such counsel shall have been specifically authorized in writing by
the indemnifying party, (ii) the indemnifying party shall have failed to assume
the defense of such action or employ counsel reasonably satisfactory to the
indemnified party or (iii) the named parties to any such action (including any
impleaded parties) include both the indemnified party and the indemnifying
party, and the indemnified party shall have been advised by such counsel that
there may be one or more legal defenses available to it which are different from
or additional to those available to the indemnifying party (in which case the
indemnifying party shall not have the right to assume the defense of such action
on behalf of the indemnified party). In any such case, the indemnifying party
shall not, in connection with any one action or separate but substantially
similar or related actions in the same jurisdiction arising out of the same
general allegations or circumstances, be liable for the fees and expenses of
more than one separate firm of attorneys (in addition to any local counsel) for
all indemnified parties and all such fees and expenses shall be reimbursed as
they are incurred. Such firm shall be designated in writing by a majority of the
Holders, in the case of the parties indemnified pursuant to Section 8(a), and by
the Company and Guarantors, in the case of parties indemnified pursuant to
Section 8(b). The indemnifying party shall indemnify and hold harmless the
indemnified party from and against any and all losses, claims, damages,
liabilities and judgments by reason of any settlement of any action (i) effected
with its written consent or (ii) effected without its written consent if the
settlement is entered into more than twenty business days after the indemnifying
party shall have received a request from the indemnified party for reimbursement
for the fees and expenses of counsel (in any case where such fees and expenses
are at the expense of the indemnifying party) and, prior to the date of such
settlement, the indemnifying party shall have failed to comply with such
reimbursement request. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement or compromise of, or
consent to the entry of judgment with respect to, any pending or threatened
action in respect of which the indemnified party is or could have been a party
and indemnity or contribution may be or could have been sought hereunder by the
indemnified party, unless such settlement, compromise or judgment (i) includes
an unconditional release of the indemnified party from all liability on claims
that are or could have been the subject matter of such action and (ii) does not
include a statement as to or an admission of fault, culpability or a failure to
act, by or on behalf of the indemnified party.

                                       18

<PAGE>

         (d) To the extent that the indemnification provided for in this
Section 8 is unavailable to an indemnified party in respect of any losses,
claims, damages, liabilities or judgments referred to therein, then each
indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages, liabilities or judgments (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company and
the Guarantors, on the one hand, and the Holders, on the other hand, from the
exchange of the Notes pursuant to the Exchange Offer or the sale of Transfer
Restricted Securities, as the case may be, or (ii) if the allocation provided by
clause 8(d)(i) is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause
8(d)(i) above but also the relative fault of the Company and the Guarantors, on
the one hand, and of the Holder, on the other hand, in connection with the
statements or omissions which resulted in such losses, claims, damages,
liabilities or judgments, as well as any other relevant equitable
considerations. The relative fault of the Company and the Guarantors, on the one
hand, and of the Holder, on the other hand, shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to
information supplied by the Company or such Guarantor, on the one hand, or by
the Holder, on the other hand, and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission. The amount paid or payable by a party as a result of the losses,
claims, damages, liabilities and judgments referred to above shall be deemed to
include any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim, which is the
subject of this paragraph (d). For purposes of this paragraph (d), each person,
if any, who controls such indemnified party within the meaning of the Act or the
Exchange Act shall have the same rights to contribution as such indemnified
party and each person, if any, who controls the Company within the meaning of
the Act or the Exchange Act shall have the same rights to contribution as the
Company.

         The Company, the Guarantors and each Holder agree that it would not be
just and equitable if contribution pursuant to this Section 8(d) were determined
by pro rata allocation (even if the Holders were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding paragraph. The
amount paid or payable by an indemnified party as a result of the losses,
claims, damages, liabilities or judgments referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any matter, including any
action that could have given rise to such losses, claims, damages, liabilities
or judgments. Notwithstanding the provisions of this Section 8, no Holder, its
directors, its officers or any Person, if any, who controls such Holder shall be
required to contribute, in the aggregate, any amount in excess of the amount by
which the total received by such Holder with respect to the sale of Transfer
Restricted Securities pursuant to a Registration Statement exceeds (i) the
amount paid by such Holder for such Transfer Restricted Securities and (ii) the
amount of any damages which such Holder has otherwise been required to pay by
reason of such untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. The Holders'
obligations to contribute pursuant to this Section 8(c) are

                                       19

<PAGE>

several in proportion to the respective principal amount of Transfer Restricted
Securities held by each Holder hereunder and not joint.

SECTION 9.  RULE 144A AND RULE 144

         The Company and each Guarantor agrees with each Holder, for so long as
any Transfer Restricted Securities remain outstanding and during any period in
which the Company or such Guarantor (i) is not subject to Section 13 or 15(d) of
the Exchange Act (unless, in the case of a Guarantor, exempt pursuant to Rule
12-h-5), to make available, upon request of any Holder, to such Holder or
beneficial owner of Transfer Restricted Securities in connection with any sale
thereof and any prospective purchaser of such Transfer Restricted Securities
designated by such Holder or beneficial owner, the information required by Rule
144A(d)(4) under the Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A, and (ii) is subject to Section 13 or 15 (d) of
the Exchange Act (unless, in the case of a Guarantor, exempt pursuant to Rule
12h-5), to make all filings required thereby in a timely manner in order to
permit resales of such Transfer Restricted Securities pursuant to Rule 144.

SECTION 10.  MISCELLANEOUS

        (a) Remedies. The Company and the Guarantors acknowledge and agree that
any failure by the Company and/or the Guarantors to comply with their respective
obligations under Sections 3 and 4 hereof may result in material irreparable
injury to the Initial Purchasers or the Holders or Affiliated Market Makers for
which there is no adequate remedy at law, that it will not be possible to
measure damages for such injuries precisely and that, in the event of any such
failure, the Initial Purchasers or any Holder or Affiliated Market Maker may
obtain such relief as may be required to specifically enforce the Company's and
the Guarantors' obligations under Sections 3 and 4 hereof. The Company and the
Guarantors further agree to waive the defense in any action for specific
performance that a remedy at law would be adequate.

         (b) No Inconsistent Agreements. Neither the Company nor any Guarantor
will, on or after the date of this Agreement, enter into any agreement with
respect to its securities that is inconsistent with the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions hereof.
Neither the Company nor any Guarantor has previously entered into any agreement
that will remain in effect after the issuance of the Notes granting any
registration rights with respect to its securities to any Person other than this
Agreement (and the Registration Rights Agreement dated as of May 6, 2002
relating to the Company's 12 3/4 Senior Suboridinated Notes due 2010). The
rights granted to the Holders hereunder do not in any way conflict with and are
not inconsistent with the rights granted to the holders of the Company's and the
Guarantors' securities under any agreement in effect on the date hereof.

          (c) Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to or departures
from the provisions hereof may not be given unless (i) in the case of Section 5
hereof and this Section 10(c)(i), the Company has obtained the written consent
of Holders of all outstanding Transfer Restricted Securities affected thereby
and (ii) in the case of all other provisions hereof, the Company has obtained
the written consent of Holders of a majority of the outstanding principal amount
of Transfer Restricted Securities (excluding Transfer Restricted Securities
affected

                                       20

<PAGE>

thereby held by the Company or its Affiliates). Notwithstanding the foregoing, a
waiver or consent to departure from the provisions hereof that relates
exclusively to the rights of Holders whose Transfer Restricted Securities are
being tendered pursuant to the Exchange Offer, and that does not affect directly
or indirectly the rights of other Holders whose Transfer Restricted Securities
are not being tendered pursuant to such Exchange Offer, may be given by the
Holders of a majority of the outstanding principal amount of Transfer Restricted
Securities subject to such Exchange Offer.

         (d) Third Party Beneficiary. The Holders and Affiliated Market Makers
shall be third party beneficiaries to the agreements made hereunder between the
Company and the Guarantors, on the one hand, and the Initial Purchasers, on the
other hand, and shall have the right to enforce such agreements directly to the
extent they may deem such enforcement necessary or advisable to protect its
rights or the rights of Holders hereunder.

         (e) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail
(registered or certified, return receipt requested), telex, telecopier, or air
courier guaranteeing overnight delivery:

          (i) if to a Holder, at the address set forth on the records of the
     Registrar under the Indenture, with a copy to the Registrar under the
     Indenture; and

          (ii) if to the Company or the Guarantors:

                                    Telecopier No.: (972) 304-6297
                                    Attention: Dr. F. Patrick Smith

                                    With a copy to:

                                    Telecopier No.: (212) 450-3044
                                    Attention: Francis J. Morison, Esq.

          (iii) if to the Initial Purchasers:

                                    Telecopier No.: (201) 524-5980
                         Attention: Lehman Brothers Syndicate Department

                                    Telecopier No.: 212-816-7912
                                    Attention: General Counsel's office

                                    With a copy to:
                                    Telecopier No.: (212) 751-4864
                                    Attention: Robert A. Zuccaro, Esq.

         All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five Business
Days after being deposited in the mail, postage prepaid, if mailed; when receipt
acknowledged, if telecopied; and on the next business day, if timely delivered
to an air courier guaranteeing overnight delivery.

                                       21

<PAGE>

        Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee at the
address specified in the Indenture.

        (f) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors and assigns of each of the parties, including
without limitation and without the need for an express assignment, subsequent
Holders; provided, that nothing herein shall be deemed to permit any assignment,
transfer or other disposition of Transfer Restricted Securities in violation of
the terms hereof or of the Purchase Agreement or the Indenture. If any
transferee of any Holder shall acquire Transfer Restricted Securities in any
manner, whether by operation of law or otherwise, such Transfer Restricted
Securities shall be held subject to all of the terms of this Agreement, and by
taking and holding such Transfer Restricted Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the
terms and provisions of this Agreement, including the restrictions on resale set
forth in this Agreement and, if applicable, the Purchase Agreement, and such
Person shall be entitled to receive the benefits hereof.

        (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

        (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

        (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
CONFLICT OF LAW RULES THEREOF.

        (j) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

        (k) Entire Agreement. This Agreement is intended by the parties as a
final expression of their agreement and intended to be a complete and exclusive
statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein
with respect to the registration rights granted with respect to the Transfer
Restricted Securities. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

        (l) Compliance with Form S-3. The Company agrees for the benefit of any
Affiliated Market Makers that for so long as any of the Transfer Restricted
Securities remain outstanding, if at any time sales by the Affiliated Market
Makers of the Transfer Restricted Securities will satisfy clauses 1 or 3 of the
"Transaction Requirements" specified in Form S-3 (or any comparable provision of
any successor form to Form S-3), the Company will use its

                                       22

<PAGE>

reasonable best efforts to comply with, and maintain its compliance with, the
"Registrant Requirements" of Form S-3 (or any comparable provision of any
successor form to Form S-3)

                            [signature page follows]

                                       23

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                TEKNI-PLEX, INC.

                                By:   /s/ Kenneth W.R. Baker
                                   --------------------------------------------
                                   Name: Kenneth W.R. Baker
                                   Title: President and Chief Operating Officer

                                PURETEC CORPORATION
                                PLASTIC SPECIALTIES AND TECHNOLOGIES, INC.
                                PLASTIC SPECIALTIES AND TECHNOLOGIES
                                  INVESTMENTS, INC.
                                BURLINGTON RESINS, INC.
                                DISTRIBUTORS RECYCLING, INC.
                                REI DISTRIBUTORS, INC.
                                NATVAR HOLDINGS, INC
                                TRI-SEAL HOLDINGS, INC
                                TP-ELM ACQUISITION SUBSIDIARY, INC.
                                TPI Acquisition Subsidiary, Inc.
                                   collectively, the Guarantors

                                By:  /s/ Kenneth W.R. Baker
                                   --------------------------------------------
                                   Name: Kenneth W.R. Baker
                                   Title: President and Chief Operating Officer

Lehman Brothers Inc.

By: /s/ Michael Konigsberg
   ---------------------------------
   Name: Michael Konigsberg
   Title: Managing Director

                Signature Page to Registration Rights Agreement

<PAGE>

Citigroup Global Markets Inc.

By: /s/ Thomas Faherty
   ---------------------------------
   Name: Thomas Faherty
   Title: Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}]]