Document:

EX-10.8

 Exhibit 10.8 

3 December 2015 
 (1) THE
COMPANIES LISTED IN SCHEDULE 1, AS SELLERS 
 (2) CONSTELLIUM HOLDCO II B.V., as Parent Company 

(3) CONSTELLIUM SWITZERLAND AG, as Sellers’ Agent 

(4) GE FACTOFRANCE SAS, as Factor 
  

 
 AMENDMENT AND RESTATEMENT AGREEMENT

  
  

 
 

 
 Dentons Europe 

Association d’Avocats à Responsabilité Professionnelle Individuelle 

5 boulevard Malesherbes, 75008 Paris, France 

 CONTENTS 
  

					
	Clause	  	Page	 
	 1. Definitions and interpretation
	  	 	3	  
	 2. Amendment and Restatement of the Existing Factoring Agreement
	  	 	4	  
	 3. Representations
	  	 	4	  
	 4. Miscellaneous
	  	 	4	  
	 5. Effective Global Rate
	  	 	5	  
	 6. Governing law and jurisdiction
	  	 	6	  
	 SCHEDULE 1. The Sellers
	  	 	7	  
	 SCHEDULE 2. Amended and Restated Factoring Agreement
	  	 	8	  

 THIS AMENDMENT AND RESTATEMENT AGREEMENT is made on 3 December 2015: 

BETWEEN: 
  

	 	(i)	Each of the ENTITIES LISTED IN SCHEDULE 1 (The Sellers) (each of them being referred to as a “Seller” and collectively the “Sellers”); 

 

	 	(ii)	CONSTELLIUM HOLDCO II B.V., a company incorporated under the laws of the Netherlands as a besloten vennootschap, whose registered office is at Tupolevlaan 41-61, 1119 NW Schipol-Rijk, The Netherlands,
registered with the trade and companies registry of the Netherlands under number 34393946 0000, in its capacity as parent company (the “Parent Company”); 

 

	 	(iii)	CONSTELLIUM SWITZERLAND AG, a company incorporated under the laws of Switzerland as an Aktiengesellschaft, whose registered office is at Max Högger-Strasse 6 8048 Zürich, Switzerland, registered
with the trade and companies registry of Zurich under number CH17030058406, in its capacity as sellers’ agent (the “Sellers’ Agent”); 

AND 
  

	 	(iv)	GE FACTOFRANCE S.A.S., a company incorporated under the laws of France as a société par actions simplifiée and licensed as a credit institution (établissement de
crédit), whose registered office is located at Tour Facto, 18, rue Hoche, 92988 Paris-La Défense Cedex, France, registered with the Trade and Companies Registry of Nanterre under number 063 802 466 (the “Factor”)

 (the Sellers, the Parent Company, the Sellers’ Agent and the Factor hereinafter collectively referred to as the
“Parties” and individually, as a “Party”). 
 WHEREAS: 

 

	(A)	The Parties have entered into on 4 January 2011 a factoring agreement as amended from time to time pursuant to which the Factor has made available a factoring facility to the Sellers (the “Existing
Factoring Agreement”). 

  

	(B)	The Parties have decided to enter into this amendment and restatement agreement in order to amend and restate the Existing Factoring Agreement (the “Amendment and Restatement Agreement”).

 IT HAS BEEN AGREED AS FOLLOWS: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

  

	 	1.1.1	In this Amendment and Restatement Agreement: 

 “Amendment Effective
Date” means: 
  

	 	(i)	15 December 2015, subject to the Factor being satisfied that the conditions precedent set out in Schedule 3 (Conditions Precedent) of the Amended and Restated Factoring Agreement are met; or

  

	 	(ii)	if on 15 December 2015, the Factor is not satisfied that the conditions precedent set out in Schedule 3 (Conditions Precedent) of the Amended and Restated Factoring Agreement are met, the date on which the
Factor becomes satisfied that such conditions precedent are met. 

 “Amended and Restated Factoring Agreement” means the Existing Factoring
Agreement as amended and restated in accordance with this Amendment and Restatement Agreement in the form set out in SCHEDULE 2 (Amended and Restated Factoring Agreement). 

“Signing Date” means the date hereof. 
  

	 	1.1.2	Save as otherwise provided herein, terms used in the above recitals and in this Amendment and Restatement Agreement shall have the respective meanings assigned to them in the Amended and Restated Factoring Agreement.

  

	1.2	General Interpretation 

 The rules of construction set forth in clause 1 of the Amended and
Restated Factoring Agreement shall be applicable to this Amendment and Restatement Agreement. 
  

	2.	AMENDMENT AND RESTATEMENT OF THE EXISTING FACTORING AGREEMENT 

  

	2.1	With effect from the Amendment Effective Date, the Existing Factoring Agreement is amended and restated so as to be in the form set out in SCHEDULE 2 (Amended and Restated Factoring Agreement) hereto.

  

	2.2	The provisions of the Amended and Restated Factoring Agreement shall be substituted to the provisions of the Existing Factoring Agreement, provided that: 

 

	 	2.2.1	such substitution shall not be construed as a novation (novation) of the respective obligations of the parties under the Existing Factoring Agreement as prior to the date hereof; and 

 

	 	2.2.2	any provision of the Existing Factoring Agreement which is not modified pursuant to this Amendment and Restatement Agreement remains unchanged. 

 

	2.3	In any of the Factoring Facility Documents, any reference to the Existing Factoring Agreement shall, unless the context otherwise requires, be read and construed as a reference to the Amended and Restated Factoring
Agreement. 

  

	3.	REPRESENTATIONS 

  

	3.1	On the Amendment Effective Date, each Seller and, as the case may be, the Sellers’ Agent and the Parent Company, make to the Factor, the representations set out in Part 1 of Schedule 4 of the Amended and Restated
Factoring Agreement . 

  

	4.	MISCELLANEOUS 

  

	4.1	This Amendment and Restatement Agreement is a Factoring Facility Document. 

  

	4.2	With effect from the Amendment Effective Date, each Seller confirms that the security interests created under the Collection Account Guarantee Agreement to which such Seller is a party continue in full force and effect
in accordance with their terms and extend to its liabilities and obligations under the Amended and Restated Factoring Agreement and under the other Factoring Facility Documents as amended on the Amendment Effective Date, as the case may be.

  

	4.3	 With effect from the Amendment Effective Date, the Parent Company irrevocably and unconditionally confirms that its obligations under the Parent
Performance Guarantee continue in full force and effect notwithstanding the amendments to the Amended and Restated Factoring Agreement as provided for 

 
under this Amendment and Restatement Agreement and extend to the liabilities and obligations of each Seller under the Amended and Restated Factoring Agreement, under the terms and conditions of
the Parent Performance Guarantee. 
  

	4.4	For the avoidance of doubt, it is specified that the entering into of the Amendment and Restatement Agreement will not give rise to any additional amounts payable to the Factor other than those specifically set out in
the Amended and Restated Factoring Agreement or expressly agreed with any member of the Group; and in particular, the Factor expressly agrees that no amount will be payable to it under clause 9.1.2 (Establishment) of the Existing Factoring
Agreement. 

  

	5.	EFFECTIVE GLOBAL RATE 

  

	5.1	For the application of the provisions of Article R.313-1-1 of the French Monetary and Financial Code, each Party acknowledges that, taking into account the specificity of the Amended and Restated Factoring Agreement as
provided for under this Amendment and Restatement Agreement (in particular the variable nature of the SFC rate), the taux effectif global (the “Effective Global Rate”) cannot be calculated on the Signing Date but an
indicative calculation of such rate shall be provided in this clause 5 (Effective Global Rate). 

  

	5.2	In application of Article R.313-1-1 of the French Monetary and Financial Code, the indicative calculation of the Effective Global Rate applicable to this Agreement for Financing in Euros, on the basis of an arithmetic
average of the daily EURIBOR rates for the month of December being set at 0%, is 1,62% per year as of the Signing Date. 

  

	5.3	In application of Article R.313-1-1 of the French Monetary and Financial Code, the indicative calculation of the Effective Global Rate applicable to this Agreement for Financing in USD, on the basis of an arithmetic
average of the daily LIBOR rates for the month of December being set at 0,37%, is 2,00% per year as of the Signing Date. 

  

	5.4	This rate is calculated, as an indication only, on the basis of a 365 day year (366 days for leap years) during the term of the Amended and Restated Factoring Agreement, pursuant to the terms and conditions that
normally apply, namely the following assumptions: 

  

	 	(a)	a level of Financing under this Amended and Restated Factoring Agreement equal to the Maximum Total Financing Amount; 

  

	 	(b)	average delay in payments by the Debtors of : 

  

	 	(i)	fifty-nine (59) calendar days for Constellium Issoire; 

  

	 	(ii)	forty-five (45) calendar days for Constellium Neuf Brisach; and 

  

	 	(iii)	sixty-five (65) calendar days for Constellium Extrusions France. 

  

	 	(c)	a Special Financing Commission as specified in Clause 9.2 (Special Financing Commission (SFC)) of the Amended and Restated Factoring Agreement; 

 

	 	(d)	the Dilution Reserve as specified in Clause 8.5 (Dilutions Reserve) of the Amended and Restated Factoring Agreement; and 

  

	 	(e)	the Non-Utilization Fee as specified in clause 9.4 (Non-Utilization Fee) of the Amended and Restated Factoring Agreement. 

	5.5	Even if the reference rate of the Special Financing Commission does not vary, the Effective Global Rate may increase or decrease during the term of this Amended and Restated Factoring Agreement depending on changes to
the various assumptions set out above and/or contractual parameters. 

  

	6.	GOVERNING LAW AND JURISDICTION 

  

	6.1	Subject to Clause 6.2 below, the provisions of this Amendment and Restatement Agreement shall be construed in accordance with and shall be governed by French law. 

 

	6.2	Each of the Parties to this Amendment and Restatement Agreement agrees that any and all disputes arising out of or in connection with this Amendment and Restatement Agreement and in particular with its validity,
interpretation, performance or non-performance, shall be exclusively referred to the competent courts of the Paris Court of Appeals 

  

	6.3	Each Party to this Amendment and Restatement Agreement irrevocably waives any objection which it might now or hereafter have to the courts referred to in Clause 6.2 being nominated as the forum to hear and determine any
suit, action or proceedings, and to settle any disputes, which may arise out of or in connection with this Amendment and Restatement Agreement and agrees not to claim that any such court is not a convenient or appropriate forum. 

 SCHEDULE 1. THE SELLERS 

 

							
	 Name
	  	 Registered Office
	  	Registration
Number	  	Jurisdiction
	Constellium Issoire	  	rue Yves Lamourdedieu ZI les Listes 63500 Issoire, France	  	672 014 081 RCS
Clermont-Ferrand	  	France
				
	Constellium Neuf Brisach	  	ZIP Rhénane Nord, RD 52, 68600 Biesheim	  	807 641 360 RCS Colmar	  	France
				
	Constellium Extrusions France	  	1 Passage Eiffel, CS 40046, 21702 Nuits-Saint-Georges	  	662 032 374 RCS Dijon	  	France

 SCHEDULE 2. 

AMENDED AND RESTATED FACTORING AGREEMENT 

 3 December 2015 

(5) THE COMPANIES LISTED IN SCHEDULE 1, AS SELLERS 

(6) CONSTELLIUM HOLDCO II B.V., as Parent Company 

(7) CONSTELLIUM SWITZERLAND A.G., as Sellers’ Agent 

(8) GE FACTOFRANCE SAS, as Factor 
  

 
 AMENDED AND RESTATED FACTORING
AGREEMENT 
  
  

 
 

 
 Dentons Europe 

Association d’Avocats à Responsabilité Professionnelle Individuelle 

5 boulevard Malesherbes, 75008 Paris, France 

  
 3 

 CONTENTS 
  

					
	 1. Definitions and Interpretation
	  	 	6	  
	 2. Assignment of Receivables
	  	 	8	  
	 3. Financing of Financeable Amounts
	  	 	10	  
	 4. Non-Recourse Factoring Facility
	  	 	12	  
	 5. Definancing and Transfer-Back of Receivables
	  	 	15	  
	 6. Credit Insurance Policy
	  	 	17	  
	 7. Servicing of the Transferred Receivables
	  	 	19	  
	 8. Factoring Accounts
	  	 	29	  
	 9. Remuneration of the Factor
	  	 	36	  
	 10. Taxes
	  	 	39	  
	 11. Representations, Warranties and Undertakings
	  	 	42	  
	 12. Term and Early Termination
	  	 	42	  
	 13. Access to Web Services
	  	 	48	  
	 14. Costs and Expenses
	  	 	49	  
	 15. Confidentiality—Utilisation of Information collected by the
Factor—Substitution
	  	 	50	  
	 16. Miscellaneous provisions
	  	 	52	  
	 17. Appointment of Sellers’ Agent
	  	 	54	  
	 18. Change to the Parties
	  	 	55	  
	 19. Applicable Law—Jurisdiction
	  	 	57	  
	 SCHEDULE 1. Definitions
	  	 	58	  
	 SCHEDULE 2. The Sellers
	  	 	76	  
	 SCHEDULE 3. Conditions Precedent
	  	 	77	  
	 SCHEDULE 4. Representation, Warranties and Undertakings
	  	 	79	  
	 SCHEDULE 5. Value Dates
	  	 	86	  
	 SCHEDULE 6. Credit And Collection Procedures
	  	 	88	  
	 SCHEDULE 7. Computer Relationship Guide
	  	 	96	  
	 SCHEDULE 8. Transferred Receivables Ledgers
	  	 	121	  
	 SCHEDULE 9. Form Of Consent Letter
	  	 	122	  
	 SCHEDULE 10. Collection Accounts
	  	 	123	  
	 SCHEDULE 11. Location Of Records
	  	 	124	  
	 SCHEDULE 12. Current Accounts
	  	 	125	  
	 SCHEDULE 13. Financing Requests – GE Adressees
	  	 	126	  
	 SCHEDULE 14. Jurisdiction Matrix*
	  	 	128	  

  
 4 

					
	 SCHEDULE 15. Accession Form
	  	 	132	  
	 SCHEDULE 16. Schedule Specific to the Sellers
	  	 	133	  
	 SCHEDULE 17. List of Audited Items
	  	 	144	  
	 SCHEDULE 18. List of Airbus Companies
	  	 	145	  
	 SCHEDULE 19. Form of Rexam First Demand Guarantee
	  	 	147	  
	 SCHEDULE 20. Form of Letter of Waiver and Consent
	  	 	4	  

  
 5 

 FACTORING AGREEMENT originally dated 4 January 2011, as amended and restated on 3 December 2015: 

BETWEEN: 
  

	 	(v)	Each of the ENTITIES LISTED IN SCHEDULE 1 (The Sellers) (each of them being referred to as a “Seller” and collectively the “Sellers”); 

 

	 	(vi)	CONSTELLIUM HOLDCO II B.V., a company incorporated under the laws of the Netherlands as a besloten vennootschap, whose registered office is at Tupolevlaan 41-61, 1119 NW Schipol-Rijk, The Netherlands,
registered with the trade and companies registry of the Netherlands under number 34393946 0000, in its capacity as parent company (the “Parent Company”); 

 

	 	(vii)	CONSTELLIUM SWITZERLAND A.G., a company incorporated under the laws of Switzerland as an Aktiengesellschaft, whose registered office is at Max Högger-Strasse 6 8048 Zürich, Switzerland,
registered with the trade and companies registry of Zurich under number CH17030058406, in its capacity as sellers’ agent (the “Sellers’ Agent”); 

AND 
  

	 	(viii)	GE FACTOFRANCE S.A.S., a company incorporated under the laws of France as a société par actions simplifiée and licensed as a credit institution (établissement de
crédit), whose registered office is located at Tour Facto, 18, rue Hoche, 92988 Paris-La Défense Cedex, France, registered with the Trade and Companies Registry of Nanterre under number 063 802 466 (the “Factor”)

 (the Sellers, the Parent Company, the Sellers’ Agent and the Factor hereinafter collectively referred to as the
“Parties” and individually, as a “Party”). 
 WHEREAS: 

 

	(C)	The Parties have entered into on 4 January 2011 a factoring agreement as amended from time to time (the “Existing Factoring Agreement”) pursuant to which the Factor has made available a factoring
facility to the Sellers. 

  

	(D)	The Parties have decided to enter into this agreement (the “Agreement”) in order to amend and restate the Existing Factoring Agreement. 

IT IS HEREBY AGREED AS FOLLOWS: 
  

	7.	DEFINITIONS AND INTERPRETATION 

  

	7.1	Definitions 

 In this Agreement, terms and expressions used with a capital letter shall, except
where the context otherwise requires, have the meaning given to them in SCHEDULE 3 (Definitions). 
  

	7.2	Interpretation 

  

	 	(a)	The Agreement sets forth all the rights and obligations of the Parties. It replaces and substitutes any and all prior letters, proposals, offers and agreements between the Parties. 

  
 6 

	 	(b)	In this Agreement, unless the contrary intention appears, any reference to: 

  

	 	(i)	this Agreement includes a reference to its recitals and its Schedules; 

  

	 	(ii)	a Clause, a Paragraph or a Schedule is a reference to a clause, a paragraph or a schedule of this Agreement; 

  

	 	(iii)	the singular shall include the plural and vice-versa; and 

  

	 	(iv)	time in this Agreement refers to local time in Paris (France), unless expressly provided to the contrary. 

  

	 	(c)	Words appearing therein in French shall have the meaning ascribed to them under French law and such meaning shall prevail over their translation into English, if any. 

 

	 	(d)	Where an obligation is expressed in a Factoring Facility Document to be performed on a date which is not a Business Day, such date shall be postponed to the first following day that is a Business Day unless that day
falls in the following calendar month in which case that date will be the first preceding day that is a Business Day. 

  

	 	(e)	Unless expressly provided to the contrary in a Factoring Facility Document, any reference in a Factoring Facility Document to: 

  

	 	(v)	any agreement or other deed, arrangement or document shall be construed as a reference to the relevant agreement, deed, arrangement or document as the same may have been, or may from time to time be, replaced, extended,
amended, restated, varied, supplemented or superseded; 

  

	 	(vi)	any statutory provision or legislative enactment shall be deemed also to refer to any re-enactment, modification or replacement and any statutory instrument, order or regulation made thereunder or under any such
re-enactment; and 

  

	 	(vii)	any party to a Factoring Facility Document shall include references to its successors, permitted assigns and any person deriving title under or through it; references to the address of any person shall, where relevant,
be deemed to be a reference to the location of its then registered office or equivalent as current from time to time. 

  

	 	(f)	Unless expressly provided to the contrary, all references made in this Agreement to a day are references to a calendar day. 

  

	 	(g)	Unless expressly provided to the contrary, all references made in this Agreement to the term “control” shall have the meaning given to it in Article L. 233-3 of the French Commercial Code (Code de
commerce). 

  

	 	(h)	A Default or an Event of Default is “continuing” if it has not been remedied (within the applicable grace period, if any) or waived. 

 

	 	(i)	“gross negligence” means “faute lourde”.  

  

	 	(j)	A “guarantee” includes any “cautionnement”, “aval” and any “garantie” which is independent from the debt to which it relates. 

  
 7 

	 	(k)	A “merger” includes any fusion implemented in accordance with articles L.236-1 to L.236-24 of the French Commercial Code. 

 

	 	(l)	A “person” includes any person, firm, company, corporation, government, state or agency of a state or any association, trust or partnership (whether or not having separate legal personality).

  

	 	(m)	“wilful misconduct” means “dol”. 

  

	 	(n)	“set-off” shall be construed so as to include analogous and/or corresponding rights in any applicable jurisdiction. 

 

	8.	ASSIGNMENT OF RECEIVABLES 

  

	8.1	Assignment of Eligible Receivables 

  

	 	8.1.1	Conditions Precedent 

  

	 	(a)	No Seller shall be entitled to offer to Assign any Eligible Receivable to the Factor and the Factor shall not be obliged to accept any offer to Assign any Eligible Receivable: 

 

	 	(i)	until all of the conditions precedent set forth in SCHEDULE 5 (Conditions Precedent) have been fulfilled in a form and substance reasonably satisfactory to the Factor or have been waived by the Factor;

  

	 	(ii)	if a Stop Purchase Event is outstanding; 

  

	 	(iii)	if on the relevant Assignment Date, the sum of (x) the Insurance Indemnifications received under the Credit Insurance Policy and (y) the insurance claims filed but not yet indemnified by the Credit Insurer
under the Credit Insurer Policy exceeds 80% of the Maximum Insurance Liability; 

  

	 	(iv)	if on the relevant Assignment Date, the Maximum Total Financing Amount would be reached (if the Sellers require financing in relation to such Eligible Receivables); and 

 

	 	(v)	If such Receivable is not an Eligible Receivable as at its Assignment Date, or if as at such date, an automatic cancellation of coverage (“Stop Automatique de la Couverture”) or any similar concepts
under the Credit Insurance Policy has occurred, (otherwise the provisions of Clause 11.2.1 will apply1); 

Notwithstanding the foregoing, the Parties acknowledge that the conditions precedent set forth in SCHEDULE 5 (Conditions Precedent)
Part 1 shall be satisfied or waived at the latest on the Signing Date. The Factor undertakes to promptly notify the Sellers’ Agent if any condition precedent is not fulfilled in a form and substance reasonably satisfactory to it on the date on
which such condition precedent is due to be fulfilled. 
  

	 	8.1.2	Offer to Assign Eligible Receivables 

  

 

	1 	Subject to CC’s discussion with Atradius 

  
 8 

	 	(a)	Subject to the provisions of Clause 8.1.1 (Conditions Precedent), each Seller shall be entitled to offer to Assign Eligible Receivables to the Factor no more than twice a week (or any other frequency agreed upon
by the Parties) but at least twice a month. 

  

	 	(b)	Each Seller may offer to Assign Eligible Receivables, by: 

  

	 	(i)	transmitting by tele-transmission to the Factor a “101” electronic file complying with the Computer Relationship Guide (together with the relevant Seller Codes) and identifying the Eligible Receivables
purported to be Assigned by setting out, for each Receivable, its Debtor’s name, its amount, the reference of the invoice out of which it arises, its location and payment date and the currency in which it is denominated; and 

 

	 	(ii)	providing the Factor with a Transfer Document duly signed by a duly empowered signatory specifying the reference of the relevant “101” electronic file (and the related upload date). 

 

	 	8.1.3	Payment by the Factor 

  

	 	(a)	Subject to the provisions of Clause 8.1.1 (Conditions Precedent), upon receipt of an offer to Assign Eligible Receivables from a Seller in accordance with Clause 8.1.2 (Offer to Assign Eligible
Receivables) and provided that the relevant Transfer Document has been exchanged or, as appropriate, delivered (manually or electronically) in accordance with the Transfer Mode, the Factor shall, on the Business Day following the receipt of such
offer (such date being an “Assignment Date” with respect to such Seller), date such Transfer Document in accordance with the Transfer Mode. 

  

	 	(b)	Upon completion of the procedure and formalities of the relevant Transfer Mode, each Transfer Document dated by the Factor shall transfer to the Factor absolute title on and full ownership (or, as applicable, the
beneficial interest therein) of the Eligible Receivables set out therein. 

  

	 	(c)	Subject to the provisions of Clause 8.1.1 (Conditions Precedent), the Factor shall: 

  

	 	(i)	if the relevant Transfer Document is received on an Assignment Date not later than 12.00 noon Paris time on any Business Day, on the Business Day immediately following such receipt; or 

 

	 	(ii)	if the relevant Transfer Document on an Assignment Date is received after 12.00 noon Paris time on any Business Day, on the second Business Day following such receipt, 

pay the purchase price for the Transferred Receivables set out in such Transfer Document by crediting the Current Account of the relevant
Seller with an amount equal to the Face Value of such Transferred Receivables. 
  

	 	8.1.4	Selection of Debtors 

  

	 	(a)	 As consideration for the services provided by the Factor, each of the Sellers undertakes to transfer title to the Transferred Receivables exclusively
to the Factor. Consequently, the Sellers undertake not to enter into any agreement 

  
 9 

	 	
which would grant rights to third parties over such Transferred Receivables which would negatively affect the rights granted to the Factor hereunder over those Transferred Receivables. For the
avoidance of doubt, this Clause 8.1.4 (Selection of Debtors) does not affect the right for a Seller to grant Reductions or Cancellations Items in respect of a Transferred Receivable. 

 

	 	(b)	In addition, once a Transferred Receivable has been assigned to the Factor in relation to a Debtor, the Sellers undertake to subsequently offer to transfer to the Factor all the Eligible Receivables related to such
Debtor. 

  

	 	(c)	Any Seller may request the Factor in writing to no longer transfer Receivables over any given Debtor by sending a ten (10) Business Days prior notice to the Factor, provided that: 

 

	 	(i)	the aggregate amount of Financeable Receivable in respect of Transferred Receivables over such Debtor represent less than fifty per cent (50%) of the total amount of Transferred Receivables over that Debtor, unless
such Seller transfers to the Factor Eligible Receivables over one or more new Debtors, the amount of which compensate the loss of the portfolio of Receivables over the existing Debtor; or 

 

	 	(ii)	the relevant Seller provides the Factor with reasonable commercial explanations justifying such request (such as for example, the requirement from the relevant Debtor to enter into a reverse factoring
program), and to the extent that such withdrawal does not significantly affect (taking into account previous withdrawals of Debtors pursuant to this Clause 8.1.4(c)) the Financeable Amount. 

 

	9.	FINANCING OF FINANCEABLE AMOUNTS 

  

	9.1	Financing 

  

	 	9.1.1	Upon request from the relevant Seller (or the Sellers’ Agent acting on its behalf) sent to the addressees specified in SCHEDULE 15 (Financing Requests – GE Adressees) by e-mail (a “Financing
Request”) specifying (i) the Financeable Amount in respect of which such Seller is requesting a Financing (the “Requested Amount”) and (ii) identifying the Financeable Receivables to be Financed in the relevant
currency from the Factor and setting out for each of such Financeable Receivable, the Expected Financing Period per Receivable (the “Requested Financed Receivables”), and provided that: 

 

	 	(a)	each Requested Financed Receivable shall be fully Financed, and therefore, the sum of the Face Value of each Requested Financed Receivables shall be equal to the Requested Amount; and 

 

	 	(b)	the Requested Amount does not exceed the Financeable Amount for the Seller on the date of the relevant request, 

the Factor shall, until the Transaction Settlement Date, make available to the relevant Seller the Requested Amount by debiting such amounts
from the available balance of the relevant Current Account (after, as the case may be, having transferred all or part of this amount from the Available Financing Account of the relevant Seller) and paying them to the relevant Seller by way of wire
transfer (virement) to the Bank Account or to 

  
 10 

 
such other account as the relevant Seller may from time to time specify, provided that if a Financing Request is sent by the relevant Seller (or the Sellers’ Agent acting on its behalf) to
the Factor (i) before 10 a.m. on a given Business Day, Financing will be made available by the Factor to such Seller on the same Business Day, or (ii) after 10 a.m. on a given Business Day, Financing will be made available by the Factor to
such Seller on the following Business Day. 
  

	 	9.1.2	On any day on which a Seller transfers Financeable Receivables to the Factor, if such Seller (or the Sellers’ Agent acting on its behalf) does not make a Financing Request or if the Financing Request it makes is
for a Requested Amount lower to the Financeable Amount credited on the Current Account of such Seller on such date, the Factor will transfer the Financeable Amount credited on such Current Account to the Available Financing Account of such Seller in
accordance with in Clause 14.2 (Available Financing Account). 

  

	 	9.1.3	On any Assignment Date, should the sum of (x) the Insurance Indemnifications received under the Credit Insurance Policy and (y) the insurance claims filed but not yet indemnified by the Credit Insurer under
the Credit Insurer Policy exceed 80% of the Maximum Insurance Liability, the Seller shall be entitled to cease to offer to Assign Eligible Receivables and the Parties agree to discuss the consequences of this event. If sixty (60) days after
such Assignment Date, the Parties have not agreed to continue the Factoring Facility, the Commitment Period shall terminate. 

  

	9.2	Financeable Amounts 

 The amounts which are, at any time (until the Transaction Settlement
Date), financeable to each Seller by the Factor (the “Financeable Amounts”) shall correspond to the credit balance at such time on the Current Account of such Seller (including, on any Assignment Date, the Face Value of the
Financeable Receivables Assigned by such Seller on such Assignment Date, less (i) the sum of the credit balance of the Reserve Accounts of such Seller and the amounts of the Dilution Reserve and (ii) as the case may be, any outstanding
debit position of the relevant Current Account as at such date). 
  

	9.3	Maximum Total Financing Amount 

  

	 	9.3.1	The Financeable Amount for all Sellers on any date cannot exceed the Maximum Total Financing Amount less the aggregate Financed Amounts for all Sellers as at such date and the Financed Amounts for all Sellers shall
never exceed the Maximum Total Financing Amount. 

  

	 	9.3.2	Should the aggregate Financeable Amounts for all Sellers potentially exceed the Maximum Total Financing Amount less the aggregate Financed Amounts for all Sellers, the maximum Financeable Amount shall be reduced pro
rata up to the Maximum Total Financing Amount less the aggregate Financed Amounts for all Sellers. 

  

	 	9.3.3	As from the date falling 12 months after the Signing Date, or at any time after the occurrence of a Factor Change of Control, the Parent Company shall be entitled to request in writing to the Factor that the Maximum
Total Financing Amount be reduced in all or in part. Such reduction shall enter into force ten (10) Business Days after the receipt by the Factor of the aforementioned request. 

  
 11 

	 	9.3.4	Should the Factor identify on any date that the aggregate amount of Financeable Receivables to be purchased by the Factor on the following Assignment Date is likely to cause the Maximum Total Financing Amount to be
exceeded, the Factor will notify the Seller’s Agent and the Parties undertake to discuss in good faith about a potential increase in the Maximum Total Financing Amount to avoid causing the Maximum Total Financing Amount to be exceeded.

  

	9.4	Transfer of Non-Financeable Amounts to a Deferred Availability Account 

 The Factor shall debit
the relevant Non-Financeable Amounts from the Current Account applicable to the relevant Seller and credit them to the applicable Deferred Availability Account. 
  

	9.5	Request for transfer of collections relating to Non-Financeable Receivables and Definanced Receivables. 

  

	 	9.5.1	For each Seller, collections received under Non-Financeable Receivables will be credited by the Factor to the available balance of such Seller’s Current Account. The payment of such collections to each relevant
Seller shall be made by the Factor as soon as practicable after receipt of such collections and in any case within two (2) Business Days. 

  

	 	9.5.2	Any payment made under this Clause shall be made available by the Factor to the relevant Seller by debiting such amounts from the available balance of the relevant Current Account and paying them to such Seller by way
of wire transfer (virement) to the Bank Account or to such other account as the Seller may from time to time specify. 

  

	10.	NON-RECOURSE FACTORING FACILITY 

  

	10.1	Non Recourse Factoring Facility 

  

	 	10.1.1	The Factoring Facility made available to the Sellers in respect of Approved Receivables under this Agreement is a non-recourse facility. As a result the Factor shall not be entitled to exercise any recourse against the
Sellers by reason of a payment default by a Debtor under an Approved Receivable, provided that: 

  

	 	(a)	such Receivable is a Financeable Receivable; 

  

	 	(b)	the Seller of such Receivable has complied with its obligations under Clause 12 (Credit Insurance Policy) in respect of such Receivable, has complied with its obligations under the Credit Insurance Policy and has
filed all relevant claims in a timely manner and in form acceptable by the Credit Insurer, otherwise the provisions of Clause 11.1.1 will apply; 

  

	 	(c)	the non-payment of such Receivable does not result from such Receivable being a Disputed Receivable, otherwise the provisions of Clause 11.1.1 will apply; 

 

	 	(d)	there is no credit notes not disclosed to the Factor that affect the value of a Transferred Receivable, otherwise the Factor will debit the Current Account of the relevant Seller from the corresponding unpaid amount in
accordance with Clause 14.1.3(b); 

  

	 	(e)	there is no adjustment items accounted for by the Seller which are not transferred to the Factor and which affect the value of a transferred receivable, otherwise the Factor will debit the Current Account of the
relevant Seller from the corresponding unpaid amount in accordance with Clause 14.1.3(b); and 

  
 12 

	 	(f)	the non-payment of such Receivable does not result from the occurrence of an exclusion event set out in the Credit Insurance Policy allowing the Credit Insurer to refuse to indemnify such Receivable, otherwise the
Factor will debit the Current Account of the relevant Seller from the corresponding unpaid amount in accordance with Clause 14.1.3(b). 

  

	 	10.1.2	Subject to Clause 10.1.1, the Factor hereby expressly waives: 

  

	 	(a)	any Seller’s guarantee pursuant to article L.313-24 of the French Code monétaire et financier in respect of any Approved Receivable Assigned by a Seller; 

 

	 	(b)	any right of recourse (including any recours cambiaire under, inter alia, articles L 511-6, L 511-7, L 511-10, L 511-21, L 511-44, L 512-3 and L 512-4 of the French Code de commerce) it may have
against any Seller under any bills of exchange, negotiable instrument, promissory note related to any Approved Receivable that has been endorsed to its benefit by such Seller and the Factor further undertakes to obtain a similar waiver not to
exercise any of the rights of recourse referred to in this paragraph (b) from any third party transferee of any Approved Receivable; 

  

	 	(c)	and more generally any and all rights of recourse it may have against the Seller with respect to unpaid Approved Receivables (including, for the avoidance of doubt, with respect to the non-insured portion
(quotité non-assurée) relating to such Receivables) and in particular shall not be entitled to debit the Current Account in an amount corresponding in full or in part to the non-payment of such Approved Receivables (other than
expressly contemplated in Clause 4.1.1 above) or to request the payment of such amount (or any indemnity resulting from the relevant Debtor’s failure) from the relevant Seller). 

 

	 	10.1.3	The Factor hereby undertakes: 

  

	 	(a)	not to claim any payment pursuant to a guarantee (aval) granted by the relevant Seller or any third party under a negotiable instrument (including, without limitation, promissory note (billet à
ordre) and bill of exchange (lettre de change)) related to any Approved Receivable that has been endorsed to its benefit by a Seller; and 

  

	 	(b)	without prejudice to the provisions of Clause 13.10.2(b) (Power of Attorney), not to endorse any negotiable instrument (including, without limitation, promissory note (billet à ordre) and
bill of exchange (lettre de change)) related to any Approved Receivable that has been endorsed to its benefit by a Seller. 

  

	 	10.1.4	On the Indemnification Maximum Payment Date applicable to such Approved Receivable, the Factor will automatically credit the Current Account of the relevant Seller with the Outstanding Amount of any Approved Receivable
which is not a Financed Receivable and which is a Defaulted Receivable. Upon receipt from the Credit Insurer of the Insurance Indemnification relating to such Approved Receivable, the Factor will reduce the amount of the Asset Account of the
relevant Seller with the Outstanding Amount of such Approved Receivable. 

  

	10.2	Approval of Transferred Receivables Assigned by the Seller 

  
 13 

	 	10.2.1	Approval by the Factor 

  

	 	(a)	Subject solely to the provisions of Clause 10.1.1 above, the Factor agrees to bear the credit risk under all Approved Receivables (VAT included) assigned by the Seller up to an amount in respect of each Debtor of
the Seller (the “Factor Approval Limit”). 

  

	 	(b)	Subject to paragraph (d) below, with respect to each Debtor the Factor Approval Limit (including VAT) on any Assignment Date shall be equivalent to the Credit Insurer Approval Limit (including VAT) applied at such
relevant time under the Credit Insurance Policy in respect of that Debtor. 

  

	 	(c)	Any reduction or cancellation of approval being made by the Credit Insurer shall result in an automatic and pro tanto reduction or cancellation of the Factor Approval Limit in respect of any Debtor as from the
date on which such reduction or cancellation of approval takes effect, it being agreed that such automatic and pro tanto reduction or cancellation of the Factor Approval Limit shall not affect the Receivables held against such Debtor that had
already given rise to the issue of an invoice and that were falling within the Factor Approval Limit as at such date. 

  

	 	(d)	Notwithstanding paragraph (b) above, the Factor may, at any time, in its discretion, reduce or set the Factor Approval Limit with respect to any Debtor below the corresponding Credit Insurer Approval Limit:

  

	 	(i)	without prior notice, with respect to the Approval Limit applicable to a new Debtor which was not a Debtor on the Signing Date; 

  

	 	(ii)	without prior notice, upon the increase by the Credit Insurer of the Credit Insurer Approval Limit of any Debtor, with respect to the Approval Limit applicable to such Debtor provided that the Factor Approval Limit
following such increase of the Credit Insurer Approval Limit shall not be lower than the Factor Approval Limit immediately before such increase; and 

  

	 	(iii)	otherwise, subject to a fifteen-day prior notice to the relevant Seller, 

 provided that such
reduction shall not affect Receivables held against such Debtor that had already given rise to the issue of an invoice. 
  

	 	(e)	The Parties further acknowledge and agree to convene and discuss in good faith the way the Factor Approval Limit is determined under the Agreement should regulatory requirements currently, directly or indirectly,
applicable to the Factor be lifted at any time during the continuation of the Agreement. 

  

	 	(f)	The Factor will provide through the Web Services to each Seller the Factor Approval Limit applicable to each Debtor 

  

	 	10.2.2	Approved Receivables 

  

	 	(a)	 When (i) a payment is made to the Factor under or in connection with an Approved Receivable (including any payment by the relevant Seller of any
Dilution, Indirect Payment or any indemnity paid by the Seller as discharge for any non-payment by the relevant Debtor of any Approved Receivable) or (ii) the Credit Insurer and the Factor increases the Approval Limit in relation to a Debtor,

  
 14 

	 	
the available amount under the Approval Limit in respect of such Debtor will automatically increase, as the case may be (x) from the amount paid under or in connection with such Approved
Receivable or (y) from the amount by which the Approval Limit has been increased by the Credit Insurer and the Factor, and such additional available amount will be automatically applied to Transferred Receivables which are not Approved
Receivables as that time (if any). 

  

	 	(b)	For the avoidance of any doubt, any Approved Receivable referred to in this Clause 10.2.2 shall immediately benefit from a full transfer of risks to the Factor in accordance and subject to Clause 10.1.1 as if such
Approved Receivable had fallen within the Factor Approval Limit on the relevant Assignment Date. 

  

	11.	DEFINANCING AND TRANSFER-BACK OF RECEIVABLES 

  

	11.1	Disputed Receivables and Defaulted Receivables 

  

	 	11.1.1	The Factor will be entitled to: 

  

	 	(a)	Definance any Financed Receivable or to recharacterize any Financeable Receivable into Non-Financeable Receivable if such Receivables: 

 

	 	(i)	becomes a Defaulted Receivable (a) in respect of which no claim has been filed with the Credit Insurer within the filing period set out in the Credit Insurance Policy or (b) which does not give rise to any
indemnification by the Credit Insurer after the maximum indemnification period (délai d’indemnisation) under the Credit Insurance Policy, to the extent, in both cases, that such non-payment by the Credit Insurer is the direct
consequence of a failure by the Seller to perform its obligations or exercise its rights under the Credit Insurance Policy (in which case the definancing or recharacterization shall be in an amount equal to the claim unpaid by the Credit Insurer),
provided that if such non-payment by the Credit Insurer results in or from a dispute between the relevant Seller and the Credit Insurer and such dispute is definitively resolved in favour of the Seller before the Transaction Settlement Date and the
Credit Insurer has to pay such claim, the relevant Receivable shall be Financed (or Financeable) again by the Factor by debiting from the relevant Deferred Availability Account and crediting the relevant Current Account with an amount equal to the
Outstanding Amount of such Receivable, together with interests equal to the product of the Outstanding Amount of such Receivable by the sum of the Euribor and the Margin as at such date and the number of days elapsed between the Definancing of such
Receivable and the new Financing of such Receivable divided by 360; or 

  

	 	(ii)	 has been a Disputed Receivable for more than forty-five (45) Business Days as (i) from the issuance of a notice of Dispute by the relevant
Seller to the Factor or (ii) from the date on which the Factor identifies a Dispute, based on the elements provided to it pursuant to Clause 13.5.4, provided that if such Dispute proves further to a definitive and binding court decision before
the Transaction Settlement Date to be unfounded, or is determined in favour of the Seller or gives right to a settlement before the Transaction Settlement Date, the relevant Financed Receivable or Financeable Receivable shall be Financed again by
the Factor by debiting from the 

  
 15 

	 	
relevant Deferred Availability Account and crediting the relevant Current Account with an amount equal to the Outstanding Amount of such Receivable, together with interests equal to the product
of the Outstanding Amount of such Receivable by the sum of the Euribor and the Margin as at such date and the number of days elapsed between the Definancing of such Receivable and the new Financing of such Receivable divided by 360.

  

	 	11.1.2	If a Dispute affecting a Financeable Receivable is about the existence of the Transferred Receivable or if the Transferred Receivable is subject to a court proceeding in relation to a Dispute, such Transferred
Receivable may be immediately Definanced (or recharacterized as a Non-Financeable Receivable) by the Factor; provided that, in case of a Definancing of an Approved Receivable (or recharacterization as a Non-Financeable Receivable), if the legal
action referred to above proves to be unfounded, is determined in favour of the Seller further to a definitive and binding court jurisdiction before the Transaction Settlement Date or gives right to a settlement the relevant Approved Receivables
shall be Financed (or, as the case may be, recharacterized as Financeable Receivable) again by the Factor by debiting such amount from the relevant Deferred Availability Account and by crediting the relevant Current Account by an amount equal to the
Outstanding Amount thereof, together with interests equal to the product of the Outstanding Amount of such Receivable by the sum of Euribor and the Margin as at such date and the number of days elapsed between the Definancing of such Receivable and
the new Financing of such Receivable divided by 360. 

  

	11.2	Transfer-Back 

  

	 	11.2.1	Any Transferred Receivable which was not an Eligible Receivable at the time of its Assignment may be Transferred-Back at any time by the Factor or at the request of the relevant Seller (or the Sellers’ Agent acting
on its behalf). 

  

	 	11.2.2	At any time, the Factor shall be entitled to request any Seller to repurchase any Transferred Receivable which is owed by a Debtor which is subject to a Debtor Insolvency, to the extent that such Receivable is
irrecoverable and the ownership by such Seller of such Transferred Receivable is required in order to obtain a reclaim or refund of VAT or any other taxes billed by such Seller in relation to such Transferred Receivable which may be refundable from
the relevant authorities or levying body. 

  

	 	11.2.3	At any time, any Seller shall be entitled to request in writing the retransfer of any Definanced Receivable or any Non-Financeable Receivable, provided that upon request from the Credit Insurer, any Defaulted Receivable
shall be, in accordance with the Credit Insurer’s instructions either: 

  

	 	(a)	Transferred-Back to the relevant Seller in order for such Seller to transfer such Receivable to the Credit Insurer; or 

  

	 	(b)	directly transferred from the Factor to the Credit Insurer, in accordance with the Credit Insurance Policy. 

  

	11.3	Procedure for the Transfer-Back of Transferred Receivables—Retransfer Modes 

  

	 	11.3.1	The Parties agree that: 

  
 16 

	 	(a)	the Transfer-Back of any relevant outstanding Transferred Receivables originated by the relevant Seller which have been assigned to the Factor and that are to be Transferred-Back to it pursuant to this Agreement (the
“Affected Receivables”); and 

  

	 	(b)	the payment of the relevant purchase price for the Transfer-Back of such Affected Receivables which shall be equal to, subject to Clause 11.3.4 below, (i) the amount of any payment made by the Factor to the
relevant Seller in respect of such Affected Receivables less (ii) the collections, the Reduction or Cancellation Items and any Insurance Indemnification relating thereto (the “Transfer-Back Price”), 

shall take place in accordance with and pursuant to the Retransfer Mode being applicable to the relevant Seller, provided that (i) the
credit balance of the relevant Current Account shall be at least equal to such Transfer-Back Price on the date of the Transfer-Back, and (ii) if such purchase price is due pursuant to a Transfer-Back made in accordance with Clause 11.2.2, the
payment of such purchase price shall be made in accordance with Clause 11.3.4. 
  

	 	11.3.2	Notwithstanding any provision to the contrary, immediately before debiting the Transfer-Back Price of any Affected Receivable which is a Definanced Receivable, the Factor will credit the Current Account of the relevant
Seller with the Outstanding Amount of such Affected Receivable. 

  

	 	11.3.3	Upon completion of the applicable Retransfer Mode and full payment of the agreed Transfer-Back Price, the relevant Seller shall be the owner of the relevant Affected Receivables which have been Transferred-Back.

  

	 	11.3.4	In case of a Transfer-Back made pursuant to Clause 11.2.2: 

  

	 	(a)	the relevant Seller undertakes to promptly fulfill all relevant formalities in order to obtain from the relevant tax administration the repayment of the VAT amount previously paid in relation to the relevant
Transferred-Back Receivable and shall immediately inform the Factor upon such VAT amount being paid or set-off by the relevant tax administration; and 

  

	 	(b)	the Transfer-Back Price of such Transferred-Back Receivable shall be equal to the amount of VAT that the relevant Seller actually recovers (including by way of set-off) from the relevant tax authorities in relation to
such Transferred-Back Receivable (provided that such Transfer-Back Price will be payable promptly upon receipt by the Seller of the relevant recovery). 

  

	12.	CREDIT INSURANCE POLICY 

  

	12.1	Management of the Credit Insurance Policy 

  

	 	12.1.1	Each Seller shall be responsible for managing the Credit Insurance Policy and its obligations thereunder. In particular, each Seller will seek to obtain the Credit Insurer Approval Limits by providing the Credit Insurer
with a list of Debtors. All costs, fees, commissions or expenses in respect of the Credit Insurance Policy shall be borne by the Sellers. 

  
 17 

	 	12.1.2	Each Seller undertakes not to amend the Credit Insurance Policy without obtaining the prior written approval of the Factor unless such amendment relates to minor changes which do not adversely affect the Factor’s
rights and obligations under the Credit Insurance Policy, provided that for the avoidance of doubt, the Sellers’ Agent or the Parent Company shall be entitled to request the exclusion of any country or any Debtor from the scope of the coverage
of the Credit Insurance Policy, to the extent that such exclusion would not significantly affect the Financeable Amounts under the Factoring Facility. For the avoidance of doubt, any such exclusion will be subject to (i) the terms of Clause
8.1.4(c) in the case of a Debtor, and (ii) to updating the list of the Relevant Country in the case of a country. 

  

	 	12.1.3	Each Seller undertakes to provide the Factor, promptly upon first request, with (i) a copy of its turnover statements (déclarations de chiffre d’affaires), (ii) evidence of payment of any
premium or any another amount owed to the Credit Insurer under the Credit Insurance Policy, (iii) evidence of filings of insurance claims (déclarations de sinistre) with the Credit Insurer, (iv) evidence of any Credit Insurer
Approval Limit applicable to a Debtor or (iv) more generally, any other correspondence between the Credit Insurer and such Seller relating to the Credit Insurance Policy generally. 

 

	 	12.1.4	To the extent that the Seller is deficient in doing so, the Factor shall be entitled following a five (5) Business Days prior written notice to the relevant Seller (or the Sellers’ Agent acting on its behalf),
to step in and act in the name and on behalf of the relevant Seller under the Credit Insurance Policy in order to: 

  

	 	(a)	produce and manage statements of factored turnover; 

  

	 	(b)	send notifications relating to litigation and extensions of payment due date; 

  

	 	(c)	send any claim for indemnification to the Credit Insurer; and 

  

	 	(d)	pay the premium, if: 

  

	 	(i)	such payment is then strictly necessary to ensure that: 

  

	 	(1)	the Credit Insurance Policy is not terminated or otherwise expires or is cancelled; or 

  

	 	(2)	no event qualified as a “déchéance de garantie” under the Credit Insurance Policy will occur as a result of the failure by the Seller to pay the premium; and 

 

	 	(ii)	the Factor has given the Seller a five (5)-Business-Day notice of such intention to pay and the relevant premium remains unpaid at the end of such period. 

 

	 	12.1.5	Notwithstanding Clause 21 (Confidentiality - Utilisation of Information collected by the Factor - Substitution), each Seller expressly authorises the Factor to provide the Credit Insurer with any
information relating to the portfolio of Transferred Receivables. 

  

	 	12.1.6	In case claims (déclarations d’intervention contentieuse) are filed with the Credit Insurer in respect of Transferred Receivables, any Insurance Indemnification amounts received from the Credit
Insurer in respect of such Transferred Receivables shall be applied as follows: 

  
 18 

	 	(i)	first, in accordance with the terms of the Credit Insurance Policy; 

  

	 	(ii)	absent any specific allocation rule in the Credit Insurance Policy, to the Receivable(s) indicated in writing by the Credit Insurer; or 

 

	 	(iii)	absent any valid indication from the Credit Insurer, in chronological order by allocating such amounts starting with the Receivables having the oldest maturity, 

provided that any amount (if any) to be repaid by the Factor to the relevant Seller shall be repaid by the Factor to the relevant Seller as
soon as possible and in any event within seven (7) Business Days from receipt thereof by the Factor. Similarly, if any insurance proceeds in respect of a Receivable not purchased by the Factor are paid directly to the Factor, the Factor shall
as soon as reasonably practicable and in any event within seven (7) Business Days from receipt thereof transfer such moneys to the relevant Seller. 
  

	 	12.1.7	In accordance with the terms of the Credit Insurance Policy, any recovery whatsoever received by the Factor with respect to a Transferred Receivable which has been subject to an indemnification under the Credit
Insurance Policy shall be distributed between the Factor, the Credit Insurer and the relevant Seller pro rata the loss supported by each of them vis-à-vis the Debtor such recovery relates to. Any such amount due to any Seller shall be paid by
the Factor to the relevant Seller by way of credit to the Current Account within five (5) Business Days upon receipt of such amount. 

  

	 	12.1.8	The Factor hereby undertakes to: 

  

	 	(a)	transfer to the Credit Insurer any Transferred Receivable that the Credit Insurer has requested to transfer in accordance with the terms of the Credit Insurance Policy; 

 

	 	(b)	pay to the Credit Insurer such portion of any recovery received by, or paid to, the Factor which are payable to the Credit Insurer pursuant to the terms of the Credit Insurance Policy; and 

 

	 	(c)	inform the Seller and the Credit Insurer within five (5) Business Days upon receipt by the Factor of any such recovery. 

  

	13.	SERVICING OF THE TRANSFERRED RECEIVABLES 

  

	13.1	Servicing Mandate 

  

	 	13.1.1	The Factor hereby appoints each Seller as its agent (mandataire) for the servicing and collection of the Transferred Receivables Assigned by such Seller. The terms and conditions of such appointment (hereinafter,
the “Servicing Mandates”) are set out in this Clause 13 (Servicing of the Transferred Receivables). 

  

	 	13.1.2	As long as a Seller remains appointed by the Factor to service, administer and collect Transferred Receivables in accordance with this Clause 13, the Factor shall refrain from taking any step with a view to collecting
such Transferred Receivable. 

  

	 	13.1.3	The Seller may sub-contract or delegate any part of the servicing, administration and collection services to be provided by it under this Agreement to any third party with the prior approval, not be unreasonably
withheld, of the Factor (unless such third party is an Affiliate of such Seller) (the “Agent”) provided that: 

  
 19 

	 	(iv)	the appointment of such Agent by the Seller shall not release or discharge the Seller from liability under this Agreement; and 

  

	 	(v)	the Factor shall have no liability to the Agent in relation to any fees, costs, or expenses suffered or incurred by such Agent. 

  

	 	13.1.4	Notwithstanding paragraph 13.1.3 above, the Servicer may sub-contract or delegate any part of the servicing, administration and collection services to the Credit Insurer (or any Affiliate of the Credit Insurer) in
accordance with the terms of the Credit Insurance Policy. 

  

	 	13.1.5	Notwithstanding any provision herein to the contrary, a Seller shall not be required to do or cause to be done anything which it is prevented from doing by any regulatory direction, requirement of law or contractual
undertaking and no legal, financial or technical advisor appointed by the Servicer shall be considered as an Agent for the purpose of this Clause. 

  

	13.2	Common interest 

 Each Servicing Mandate is stipulated in the joint interest
(intérêt commun) of both Parties. Consequently, the Parties agree that each Servicing Mandate is not without consideration, since each Seller has an essential commercial interest in keeping control of the servicing and collection
from its Debtors and the terms and conditions of each Servicing Mandate has been considered by the Parties in the context of the global economy of this Agreement. In particular, the remuneration to be paid by the Sellers to the Factor takes into
account the fact that there is no collection fee to be paid by the Factor to the Sellers in consideration for the collection of the Transferred Receivables. 
  

	13.3	Collection of the Transferred Receivables 

  

	 	13.3.1	Collection Accounts 

  

	 	(a)	Each Seller shall instruct the Debtors of Transferred Receivables to pay the amount they owe under any Transferred Receivable to the credit of a Collection Account. Each Seller shall as part of its Servicing Mandate
transfer or ensure that all collections received on its Collection Accounts regarding Transferred Receivable be transferred on a daily basis to an account of the Factor as notified in writing by the Factor to each Seller. 

 

	 	(b)	Each Collection Account opened under the name of a Seller shall be subject to a Collection Account Guarantee Agreement in a form and substance satisfactory to the Factor. 

 

	 	(c)	 The Factor shall be entitled to require any Seller to open a new Collection Account with a new Bank if (i) the Bank in the books of which the
existing Collection Account is opened does not fulfil its material obligations (if any) under the relevant Collection Account Guarantee Agreement (to the extent such breach is not remedied within 30 days from the notification of the relevant Bank
and the Seller’s Agent) or (ii) the credit rating assigned to the short term unguaranteed and unsubordinated obligations of such Bank falls below “A1” (for Standard &

  
 20 

	 	
Poor’s or Fitch Ratings) and “P1” (for Moody’s). In accordance with Clause 13.3.1(b) the new Collection Account will have to be subject to a Collection Account
Guarantee Agreement before receiving any collection under any Transferred Receivable. 

  

	 	(d)	If a Debtor continues to pay amounts owed under Transferred Receivables on another bank account than a Collection Account for more than four (4) months from its receipt of the initial written request by the
relevant Seller to pay on a Collection Account, the Seller may be requested by the Factor to send to the relevant Debtors monthly reminders of such new payment instructions, provided that, if further to the sending of two of such monthly reminders
such request remains without effect, the Factor shall also be entitled to : 

  

	 	(i)	exclude the relevant Debtor from the Factoring Facility until such time as such Debtor effectively pays the proceeds of the Transferred Receivables into the relevant Collection Account: or 

 

	 	(ii)	with the prior consent of the relevant Seller, disclose the purchase and assignment of the Transferred Receivables to the relevant Debtor by sending a notice of assignment to the relevant Debtor. 

 

	 	13.3.2	Notification to Debtors 

 The Assignments of Transferred Receivables shall remain confidential,
and shall therefore remain un-notified to the relevant Debtors, provided that if the appointment of the Servicer is terminated in accordance with: 
  

	 	(a)	Clause 13.9.1 (Debtor Termination Event), notifications may be made by the Factor to the relevant Debtor(s) only; and 

  

	 	(b)	Clause 13.9.2 (Servicer Termination Event), notifications may be made by the Factor to all Debtor(s) of the affected Seller. 

  

	13.4	Diligence and general obligations of each Seller as agent of the Factor 

  

	 	13.4.1	Each Seller undertakes to identify and individualise the Transferred Receivables outstanding, both in its computer systems and accounting ledgers, as from the entry into force of this Agreement. Each Seller will forward
the Transferred Receivables Ledgers to the Factor at the latest ten (10) Business Days after the end of each quarter, for the purposes of the reconciliation of the relevant Asset Account with the Transferred Receivables Ledgers.

  

	 	13.4.2	Each Seller undertakes to exercise its duties under the Servicing Mandate in a wise and prudent manner as if it were managing its own Receivables and if it were handling the servicing and collection of its own
Receivables, the preservation of its rights related thereof and, more generally, to perform its obligations under the Servicing Mandate in the manner of a careful, diligent and informed agent (mandataire). Furthermore, each Seller undertakes
to comply with its Credit and Collection Procedures. 

  

	 	13.4.3	Each of the Sellers will promptly inform the Factor of any change made or to be made in the Credit and Collection Procedures which is likely to have a Material Adverse Effect. 

 

	13.5	Report on the performance of the Servicing Mandate 

  
 21 

 Each Seller undertakes to: 

 

	 	13.5.1	report on the performance of the Servicing Mandate to the Factor by providing to the Factor (i) on a monthly basis, the relevant extracts of the aged debtors balance (balance clients agée) in
respect of, for each Debtor, the details on the Transferred Receivables and the other Receivables (to the extent not already provided during annual audits), (ii) on a monthly basis, detailed statements setting out the year-end rebates and
commercial discounts granted to the Debtors in relation to Transferred Receivables and (iii) on a weekly basis, to the extent such information has not already been transmitted to the Factor as part of the Assignments of Eligible Receivables
made during that week, with the” 102”, “103” and” 104” files and, in case the relevant Seller is technically unable to provide the above files to the Factor within the requested delay, any information relating to the
management of the Transferred Receivables that may be reasonably requested by the Factor; 

  

	 	13.5.2	as soon as reasonably practicable, after becoming aware of them, notify the Factor, by any written means or any other support approved by the Parties, of the occurrence of any demand for extension on payment terms (to
the extent that such extension is due to financial difficulties of the relevant Debtor), litigation relating to the Transferred Receivables or Debtor Insolvency in relation to any Debtor (such notice to include reasonable details on the event
described therein); 

  

	 	13.5.3	inform the Factor of any change affecting the terms and conditions governing its contractual relations with its Debtors, to the extent such change may have a Material Adverse Effect; 

 

	 	13.5.4	provide the Factor promptly upon request with a file setting out all Transferred Receivables which are Defaulted Receivables on the date of the request; and 

 

	 	13.5.5	provide the Factor, in relation to a Defaulted Debtor who is one of the thirty (30) largest Debtors of all Sellers (based at any time on the aggregate Outstanding Amount of all Transferred Receivables at such
time), promptly upon request: (i) information as to the proceedings implemented by the Seller to recover such Receivables, and (ii) if requested by the Factor, the correspondence between the Seller and such Debtor. 

 

	13.6	Direct payments, Credit Notes 

  

	 	13.6.1	Payment to the Sellers 

 When any Indirect Payment is made in the hands of any Seller, such
Seller may only receive such Indirect Payment as agent of the Factor, and an equivalent amount shall be paid by such Seller to the Collection Account or to such other account as the Factor may designate in advance in writing. Failing such repayment
being made within five (5) Business Days after receipt of such Indirect Payment (to the extent that the Seller has received on such date all information allowing the identification (lettrage) of such collections), the Factor shall be
entitled to debit the corresponding amount from the Current Account, without prejudice to any other recourse. 
  

	 	13.6.2	Compliant Credit Notes 

 Each Seller agrees not to change the scope of the rights attached to a
Transferred Receivable in a manner that would negatively affect the Factor’s rights thereunder, without the Factor’s approval to do so. Notwithstanding the foregoing, the Factor shall 

  
 22 

 
be deemed to have accepted such change if it is (i) a Credit Note or adjusted invoice issued in the normal course of business and in accordance with normal trade practices or (ii) an
extension on payment terms within the limit set forth under the Credit Insurance Policy or subject to the Factor’s approval. In any event, the Sellers agree to deliver to the Factor all information on Credit Notes or extensions on payment terms
related to Transferred Receivables by no later than five (5) Business Days (or any longer period agreed upon between the Parties) after their issuance or granting. 
  

	 	13.6.3	Non-compliance of Credit Notes 

 Credit Notes that are not issued by the Sellers in accordance
with usual business practices or issued in fraud of the Factor’s rights shall be deemed unenforceable against the Factor even if they have been recorded as credit to the Asset Account, and in such case the Factor shall be entitled to exercise a
recourse as set out in Clause 10.1.1(b). 
  

	13.7	Factor’s controls and audits 

  

	 	13.7.1	The Factor shall be entitled to carry audits or financial reviews on any of the Sellers or any party to which a Seller has subcontracted or delegated all or part of its Servicing Mandate, by itself or through a third
party appointed by the Factor in consultation with the relevant Seller. In that respect, each Seller shall permit the Factor and its agents or representatives, upon reasonable written notice, to visit its operational offices for field audits during
normal office hours (and which shall not unreasonably interfere with its usual daily operating needs): 

  

	 	(a)	until the occurrence of an Event of Default, twice a year; and 

  

	 	(b)	upon the occurrence of an Event of Default, one additional audit as required by the Factor, completed as necessary by complementary audits to be carried out in order to investigate issues identified during such
additional audit; 

  

	 	13.7.2	in order (A) to carry out a specific review of financial, accounting or other relevant items as set out in SCHEDULE 19 (List of Audited Items) relating to potential liabilities of any
Seller in the course of its business which may have an adverse impact on the rights of the Factor under the Factoring Facility and/or a review of the portfolio of Transferred Receivables, the Debtors and related items (such as bank statements),
(B) to examine, make and take away copies to examine of the Records that are in its possession or under its control including any Contracts related to the Transferred Receivables, and to discuss matters relating to the Transferred Receivables
or its performance under the Factoring Facility Documents or the Credit Insurance Policy with any of the officers or employees designated by it as having knowledge of such matters, (provided that if the delivery of any document is not possible or
may, in such Seller’s reasonable opinion, affect the best commercial interests of the relevant Seller, then the Sellers undertake to make available any such document for inspection by the Factor or its agents in every instance (provided that
each Seller is entitled not to disclose the parts of the documents that it in good faith considers as (a) commercially sensitive information and (b) not necessary for the purpose of the Factor preserving or exercising its rights under the
Transferred Receivables and the Factoring Facility Document)). 

  

  
 23 

	 	13.7.3	The cost of each such audit (except the financial review, which shall be free of charge) shall be borne by each Seller and is established at a maximum of three thousand Euros (EUR 3,000) per audit and per Seller,
excluding VAT and reasonable and justified out-of-pocket expenses and travel disbursements, provided that the cost of all the audits or specific reviews on any Seller shall not exceed six thousand Euros (EUR 6,000) per year. 

 

	 	13.7.4	Each Seller undertakes to fully cooperate with the Factor for the implementation of these audits and controls including by allowing the Factor, without contacting any Debtor, to make random selected checks and audits of
the amounts owed by the Debtor under the Transferred Receivables. 

  

	 	13.7.5	Upon request of the Factor, the relevant Seller or the Parent Company shall provide the Factor with a copy of the letters sent by its auditor to any Debtor in relation with, inter alia, the amounts
owed by such Debtor under the Transferred Receivable and the answers of the Debtors to such letters (as redacted by Constellium if necessary with respect to any information not relating to the outstanding amount of the Receivables against such
Debtors). 

  

	 	13.7.6	Each Seller undertakes to maintain all IT and accounting records in respect of the Transferred Receivables accurate in all material respects and, for the purposes of the audits, to maintain all back-up systems relating
to the Transferred Receivables accessible (upon reasonable request and subject to any constraints imposed by external lT services providers) to the Factor. 

  

	13.8	Undue amounts 

  

	 	13.8.1	Any amount received or recovered by the Factor (including any Insurance Indemnification) relating to (i) Receivables that have been Definanced or Transferred-Back by the Factor in accordance with this Agreement or
(ii) Receivables which have not been Assigned to the Factor or (iii) any amounts unrelated to the Factoring Facility (an “Undue Amount”) will be turned over to the relevant Seller, following reconciliation of the relevant
Seller’s debtor files with the Factor’s debtor files, such reconciliation to be initiated by the relevant Seller. 

  

	 	13.8.2	Such Undue Amounts, shall be paid by the Factor to the relevant Seller (i) to such bank account opened in the name of any Seller, as the relevant Seller (or the Sellers’ Agent acting on its behalf) may
designate in writing to the addressees specified in SCHEDULE 15 (Financing Requests – GE Adressees) and (ii) within five (5) Business Days following the sending by the relevant Seller of the relevant
Seller’s debtor file. 

  

	13.9	Termination of Servicing Mandate 

  

	 	13.9.1	Debtor Termination Event 

  

	 	(a)	Each of the following events constitutes a Debtor Termination Event (each, a “Debtor Termination Event”): 

  

	 	(i)	a Financeable Receivable Assigned by such Seller over such Debtor is overdue by more than ninety (90) calendar days; 

  

	 	(ii)	 the percentage of Financeable Receivables Assigned by such Seller over such Debtor overdue by more than thirty (30) calendar days (and for which
the Seller has not provided the Factor with information as to the proceedings implemented by the Seller to recover such Receivables within 

  
 24 

	 	
five (5) Business Days from a request to that effect from the Factor) exceeds ten per cent (10%) of the total aggregate Outstanding Amount of all Transferred Receivables Assigned by
such Seller; 

  

	 	(iii)	provided that, notwithstanding the provisions of paragraphs (i) and (ii) above: 

  

	 	(1)	the relevant Seller and the Factor shall discuss in good faith during five (5) calendar days (the “Discussion Period”) a proposed course of action to recover the relevant Transferred Receivables
owed by such Debtor. Absent any agreement on such course of action, the Factor (acting reasonably) shall be entitled at the expiry of the above discussion period to request the relevant Seller to take additional servicing measures with respect to
such Transferred Receivables; 

  

	 	(2)	if the relevant Seller agrees with the Factor on any course of action or to follow the requested servicing measures, then the Servicing Mandate shall continue as if no Debtor Termination Event had occurred and the
relevant Seller shall fulfill the agreed course of action or servicing measures; 

  

	 	(3)	if however: 

 (A) the relevant Seller refuses to fulfill the servicing instructions given by
the Factor at the expiry of the Discussion Period; or 
 (B) ten (10) calendar days after the expiry of the Discussion Period the
relevant Seller has failed to take any necessary step (i) to implement any agreed course of action or (ii) to fulfill the servicing instructions it has accepted to fulfill, 

then a Debtor Termination Event shall occur and the provisions of paragraph (b) below shall apply; 

 

	 	(iv)	a Receivable against such Debtor is a Defaulted Receivable and the relevant Seller has not provided relevant information to the Factor in accordance with Clause 13.5.4; or 

 

	 	(v)	the event referred to in Clause 13.3.1(d)(ii) occurs. 

  

	 	(b)	Upon the occurrence of a Debtor Termination Event in relation to a Debtor, the Factor shall be entitled to, with a two (2) Business Days prior notice to the relevant Seller: 

 

	 	(i)	notify the relevant Debtor of the Assignment of the Transferred Receivables Assigned by the relevant Seller and owed by such Debtor by sending it the applicable Form of Notification and instruct it to stop paying such
Seller in respect of the Transferred Receivables Assigned by such Seller; and/or 

  

	 	(ii)	 request the relevant Seller to make available to it such Records, originals, second original if applicable or copies of the invoices relating to the
Transferred Receivables Assigned by such Seller and owed by the relevant 

  
 25 

	 	
Debtor as the Factor will need in order to allow the Factor to enforce in accordance with any applicable law its rights under such Assigned Receivables against the relevant Debtor; and/or

  

	 	(iii)	cease to Finance any Receivable owed by such Debtor and which has been Assigned by the relevant Seller after the occurrence of such Debtor Termination Event (provided, for the avoidance of doubt, that as from such date,
the relevant Seller shall also cease to be obliged to assign any new Receivable against such Debtor to the Factor), 

 and the
provisions of Clause 13.10.2 (Management of the Debtors positions) will apply in respect of the Transferred Receivables Assigned by the relevant Seller against such Debtor. 

 

	 	(c)	Notwithstanding the foregoing should the Credit Insurer (or any Affiliate of the Credit Insurer) be appointed to service, administer and collect any Transferred Receivable in accordance with the terms of the Credit
Insurance Policy, to the extent it has not been terminated before pursuant to Clause 13.9.1 or 13.9.2, the appointment of the Seller hereunder shall be automatically terminated in respect of such Transferred Receivables in relation to all servicing
duties to be carried out by the Credit Insurer (or its Affiliate); and 

  

	 	(d)	The Factor shall not be entitled to terminate the appointment of the relevant Seller in relation to receivables that are not Financeable Receivables or are Definanced Receivables if the relevant Seller purchases back
such Non-Financeable Receivable and Definanced Receivable. 

  

	 	13.9.2	Servicer Termination Event 

 Each of the following events constitutes a Servicer Termination
Event (each, a “Servicer Termination Event”): 
  

	 	(a)	any of the events referred to in Paragraphs (i) to (ii) below, being calculated monthly by the Factor for each Seller in respect of each Test Period on the Test Date being applicable thereto (together, the
“Seller Receivables Performance Triggers”): 

  

	 	(i)	during three (3) consecutive Test Periods, the percentage of Transferred Receivables Assigned by such Seller overdue by more than thirty (30) calendar days exceeds ten per cent (10%) of the total
aggregate Outstanding Amount of all Transferred Receivables Assigned by such Seller; or 

  

	 	(ii)	during three (3) consecutive Test Periods, the Dilution Rate (excluding rebate and re-invoicing on a given Debtor) exceeds ten per cent (10%); 

 

	 	(b)	the occurrence of any Event of Default which is continuing (subject to appropriate grace periods, notice periods, qualifications applicable thereto) in relation to the relevant Seller, provided, for the avoidance of
doubt, that the occurrence of a Stop Purchase Event shall not constitute a Servicer Termination Event; 

  

	 	(c)	any failure by the relevant Seller to comply with any material aspect of the Credit and Collection Procedures having a Material Adverse Effect on the Transferred Receivables or to request the payments of Transferred
Receivables in the relevant Collection Account in accordance with Clause 13.3.1(a); 

  
 26 

	 	(d)	any material change in the Credit and Collection Procedures which has not been approved by the Factor, unless such change results from a change in law or a request from the Credit Insurer; 

 

	 	(e)	the repeated occurrence of seizures or attachments from creditors of the relevant Seller (such as inter alia avis à tiers détenteurs or saisies of all types or any similar or analogous event, but excluding
any conservatory measure) for an aggregate amount in excess of five million Euros (EUR 5,000,000) unless such seizure or attachment is finally dismissed or discharged within forty-five (45) days; 

 

	 	(f)	the event referred to in Clause 18.2(d) occurs; or 

  

	 	(g)	the statutory auditor of any Seller requests that a general meeting of the shareholders of the relevant Seller, or as the case may be, the Parent Company, be convened in accordance to article L. 234-2 et seq. of
the French Code de commerce, or any similar applicable law, unless the Factor and the Parent Company have agreed, within 10 Business Days of the relevant convening notice, on the implementation of satisfactory measures to remedy such
situation (including, for instance, on the withdrawal of the relevant Seller from the Factoring Facility), 

 provided that,
in any case, the Factor reasonably believes, that the occurrence of such event materially and adversely affects the ability of the Seller to service and collect the Transferred Receivables in the manner provided for under this Agreement. 

 

	13.10	Consequences of the revocation of the Servicing Mandates 

  

	 	13.10.1	Information of the Debtors, collection by the Factor 

  

	 	(a)	Upon the occurrence of a Servicer Termination Event, the Factor shall be entitled to terminate the Servicing Mandate of the relevant Seller with ten (10) Business Days prior notice to such relevant Seller and the
Parent Company and the Factor shall be entitled thereafter, with notice to such relevant Seller and the Parent Company to: 

  

	 	(i)	notify the Debtors of the Assignment of the Transferred Receivables Assigned by any Seller whose Servicing Mandate has been terminated by sending them the applicable Form of Notification and instruct them to stop paying
such Seller; and/or 

  

	 	(ii)	charge an additional fee of five thousand Euros (EUR 5,000) per Seller whose Servicing Mandate has been terminated, by debit of the relevant Current Account; and/or 

 

	 	(iii)	 As soon as the revocation of the Servicing Mandate becomes effective, in relation to any new Receivable which is purported to be Assigned by any
Seller to the Factor in accordance with this Agreement, each relevant Seller shall include the following wording in the invoices relating to those Receivables: “La créance relative à la présente facture a été
cédée à GE 

  
 27 

	 	
FACTOFRANCE dans le cadre des articles L. 313-23 à L. 313- 35 du Code monétaire et financier. Le paiement doit être effectué directement à l’ordre de GE
FACTOFRANCE, Tour FACTO—18 nie Hoche—Cedex 88—92988 LA DEFENSE CEDEX TEL: 01.46. 35.70.00—par virement du compte GE FACTOFRANCE (IBAN FR76 3000 3049 7000 0010 7920 058—SWIFT BIC : SOGEFRPP pour les paiements en
EURO ; IBAN FR76 3007 6023 5210 3841 0020 062—SWIFT BIC : NORDFRPP pour les paiements en autre devise ou tout autre IBAN indiqué par le Factor). 

 

	 	(b)	Notwithstanding the above, the Factor shall not be entitled to terminate the Servicing Mandate of any Seller in relation to receivables that are not Financeable Receivables or are Definanced Receivables if the relevant
Seller purchases back such Non-Financeable Receivable and Definanced Receivable. 

  

	 	(c)	Upon the termination of the Servicing Mandate in accordance with this Agreement and if the Purchaser exercises its step in right under the Credit Insurance Policy, the Purchaser agrees to exercise its rights under the
Credit Insurance Policy in good faith in accordance with the terms of the Credit Insurance Policy in order to avoid the suspension or early termination of the Credit Insurance Policy by the Credit Insurer. 

 

	 	13.10.2	Management of the Debtors positions 

  

	 	(a)	Ordinary Collection 

  

	 	(i)	As from the termination of any Servicing Mandate and as long as it remains the owner of the Transferred Receivables, the Factor (or its agent, as the case may be) shall have the exclusive right to manage the collection
and recovery thereof. The Factor shall manage the relevant accounts, grant or refuse any postponements, extensions or arrangements, with or without discounts, as may be requested by the Debtors. Subject to actual collection, the Factor (or its
agent, as the case may be) shall record payments as credit to the relevant Asset Account. 

  

	 	(ii)	Each Seller agrees to provide its reasonable assistance to the Factor and to provide in particular any and all documents, correspondence and special powers of attorney that may be reasonably requested in writing by the
Factor for the purpose of collecting the Transferred Receivables (subject to confidentiality undertaking). For the Non-Financeable Receivables which are also Disputed Receivables, the Factor shall not bear any collection fee or expense incurred
after their maturity date. If the Factor prepays any such fee and expense, it shall be entitled to debit the relevant amounts from the relevant Current Account. 

  

	 	(b)	Power of Attorney 

 As from the termination of any Servicing Mandate and as long as it remains
the owner of the Transferred Receivables, in order to enable the Factor to cash without delay any payment instrument or negotiable instrument relating to a Transferred Receivable, each Seller hereby appoint the Factor as its attorney
(mandataire) in order to affix any indication or signature necessary onto such instrument. If any payment made to the Factor is not related to any Transferred 

  
 28 

 
Receivable, the Factor shall be deemed to have cashed the same in its capacity as an agent, even after the termination of this Agreement. Amounts so cashed shall be credited to the Current
Account of the relevant Seller and the provisions of Clause 13.8 (Undue amounts) shall apply. The powers of attorney mentioned in this Clause are stipulated in the joint interest of both relevant Parties. 

 

	 	(c)	Where a special proxy or a power of attorney is necessary for the performance by a Seller of any duties under this Agreement (in particular, in connection with any legal or court proceedings or actions, any other action
before any official or administrative authority or any action under the Credit Insurance Policy), the Factor may, at its discretion and upon request of the Seller, grant the same forthwith. 

 

	 	(d)	Penalties and late payment interest 

 Each Seller shall remain entitled to waive its rights to
any penalties and late payment interests payable by the Debtors in relation to the Transferred Receivables and to make corresponding adjustments to its books. 
  

	14.	FACTORING ACCOUNTS 

 The Factor shall open and manage a Current Account for each Seller
(as well as all related Sub-Accounts detailed below) in order to record the amounts paid or payable by the Factor to each Seller pursuant to this Agreement and those which are due for any reason whatsoever by each Seller to the Factor. 

 

	14.1	Current Account 

  

	 	14.1.1	Single Account 

  

	 	(a)	The purchase price of the Transferred Receivables and the liabilities of each Seller towards the Factor (and vice-versa) shall be reflected as respective credit and debit items under the Current Account and shall
therefore be subject to set-off when due for payment. 

  

	 	(b)	On the Signing Date, the Current Account of each Seller as well as the related Sub-Accounts for the relevant Transferred Receivables, denominated in their respective Approved Currency, are listed in SCHEDULE 14
(Current Accounts). 

  

	 	(c)	Each Current Account and the related Sub-Accounts shall form an indivisible whole and single account between the relevant Seller and the Factor and the overall balance thereof after set-off of credits and debits shall
be considered at all times, and, in particular, after the termination of the factoring transactions arising hereunder on the Transaction Settlement Date, as the final balance (solde définitif) of such Current Account.

  

	 	(d)	Subject to Clause 14.5.3 (Utilisation), at any time, if any of the Sub-Accounts (denominated in different currencies) relating to the Current Account of a Seller has a debit balance, the Factor
shall be entitled to: 

  

	 	(i)	request the relevant Seller to transfer to its Current Account within five (5) Business Days an amount sufficient to compensate such debit balance; and 

  
 29 

	 	(ii)	if the relevant Seller does not comply with such request in the above time frame, to set-off the credit and debit balances of all Sub-Accounts (denominated in different currencies) relating to the Current Account of
such Seller. 

  

	 	(e)	In no event shall the Factor be entitled to use the credit balance of any Current Account opened with a Seller to discharge the debit balance of any Current Account opened with another Seller. 

 

	 	14.1.2	Overdraft 

 No Current Account shall have a debit balance at any time. Notwithstanding the
foregoing, if at any time a Current Account has a debit balance, the Factor shall be entitled to request the relevant Seller to transfer to the Factor an amount sufficient to allow such Current Account to no longer have a debit balance. Upon receipt
of such a request, the relevant Seller shall make the requested cash payment within five (5) Business Days. ln any case, any debit balance of a Current Account shall bear interest at the rate of the Special Financing Commission until full
reimbursement. 
  

	 	14.1.3	Transactions 

  

	 	(a)	The Current Account shall be credited by the Factor: 

  

	 	(i)	with the Face Value of the relevant Transferred Receivables on the relevant Assignment Date; 

  

	 	(ii)	with amounts due to the relevant Seller in accordance with Clause 13.8 (Undue amounts) and Clause 13.10.2(b) (Power of Attorney); 

 

	 	(iii)	with collections, insurance proceeds and other amounts received under Non-Financeable Receivables in accordance with Clause 9.5.1 or under any Definanced Receivable; 

 

	 	(iv)	with the aggregate amount of all collections, insurance proceeds and other amounts received by the Factor in relation to Receivables not transferred to the Factor (if any) (such amount to be credited immediately, and at
the latest, within 3 Business Days of receipt) 

  

	 	(v)	with amounts payable by the Factor in accordance with Clauses 11.1.1 and 11.1.2; 

  

	 	(vi)	with any amount due to the Seller in accordance with Clause 10.1.4; 

  

	 	(vii)	with recoveries due to the relevant Seller in accordance with Clause 12.1.7; 

  

	 	(viii)	with debits from the Sub-Accounts; and 

  

	 	(ix)	with the amount of any downward adjustment of the Dilution Reserve. 

  

	 	(b)	The Current Account shall be debited by the Factor: 

  
 30 

	 	(i)	with the amounts corresponding to the Financing made available by the Factor to the relevant Seller in accordance with Clause 9 (Financing of Financeable Amounts); 

 

	 	(ii)	with any Transfer-Back Price due by the relevant Seller; 

  

	 	(iii)	with the amounts transferred to the credit of the Sub-Accounts; 

  

	 	(iv)	with collections received under Non-Financeable Receivables in accordance with Clause 9.5.1; 

  

	 	(v)	unless billed separately to the relevant Seller or the Sellers’ Agent with any fees and costs due by the relevant Seller to the Factor in accordance with Clause 13.9.1(a)(ii), Clause 13.9.2(a)(ii), Clause 15
(Remuneration of the Factor) and Clause 20 (Costs and Expenses); 

  

	 	(vi)	with premiums due under the Credit Insurance Policy actually paid by the Factor in accordance with Clause 6.1.4; 

  

	 	(vii)	with the amounts due by the relevant Seller to the Factor under Clause 10.1.1(f) and Clause 13.6.1 (Payment to the Sellers); 

  

	 	(viii)	with the amount of any Indirect Payments which are not repaid by the relevant Seller to the Factor within three (3) Business Days after receipt of such Indirect Payment; 

 

	 	(ix)	with the amount of any Dilution 

  

	 	(x)	with the amount of any credit notes not disclosed to the Factor that affect the value of a Transferred Receivable; 

  

	 	(xi)	with the amount of any adjustment items accounted for by the Seller which are not transferred to the Factor and which affect the value of a Transferred Receivable; 

 

	 	(xii)	upon closing of the Current Account in accordance with Clause 14.1.6 (Closing); and 

  

	 	(xiii)	with the amount of any upward adjustment of the Dilution Reserve. 

  

	 	14.1.4	Payment of credit balance 

 Provided that no Assignment is made by a Seller to the Factor
during any calendar week, such Seller shall be entitled to request at any time during such week the payment in cash of any credit balance of its Current Account (until the Transaction Settlement Date). The Factor shall: 

 

	 	(a)	if the relevant request is received not later than 12.00 noon Paris time on any Business Day, on the Business Day immediately following such receipt; or 

 

	 	(b)	if the relevant request is received after 12.00 noon Paris time on any Business Day, on the second Business Day following such receipt, 

pay the relevant amount to the relevant Seller by wire transfer to its bank account. 

  
 31 

	 	14.1.5	Statements 

 The Factor shall promptly, upon written request of any Seller or the Parent
Company, deliver to the latter any information or justification relating to any credit or debit entry. 
  

	 	14.1.6	Closing 

 After the termination of this Agreement and the occurrence of the Transaction
Settlement Date, the Current Accounts in respect of all Sellers shall be closed and the remaining credit balances (if any) shall be refunded to each relevant Seller at the latest ten (10) Business Days following such date. The Parties agree
that this Clause 14.1.6 (Closing) shall survive the termination of this Agreement. 
  

	14.2	Available Financing Account 

  

	 	14.2.1	The available financing account (the “Available Financing Account”) is a Sub-Account of each Seller’s Current Account on which the Financeable Amount for the relevant Seller which has not been
subject to a Financing will be credited. 

  

	 	14.2.2	On any date on which the Current Account of any Seller is credited with a Financeable Amount, if the relevant Seller does not send a Financing Request regarding this Financeable Amount or if it sends a Financing Request
for an amount lower than this Financeable Amount, the Factor will transfer from the Current Account of such Seller to its Available Financing Account the Financeable Amount or, as the case may be, the portion of the Financeable Amount which was not
subject to the Financing Request. 

  

	 	14.2.3	Any amount credited to the Available Financing Account of a Seller shall be part of the Financeable Amount for such Seller and may therefore be subject to a Financing Request at any time in accordance with Clause 9
(Financing of Financeable Amounts). 

  

	 	14.2.4	On any day on which a Seller makes a Financing Request for an amount exceeding the Financeable Amount credited on its Current Account on such day, the Factor will transfer from the Available Financing Account of such
Seller to its Current Account the amount required in order to answer to the relevant Financing Request up to the credit balance of the Available Financing Account and subject to the Maximum Total Financing Amount. 

 

	14.3	Asset Account 

  

	 	14.3.1	Outstanding Amounts of Transferred Receivables shall be recorded by the Factor as debit items under the Asset Account. Any payments related to Transferred Receivables are recorded as credit items under the Asset
Account. For the avoidance of doubt, the Asset Account is not a Sub-Account. 

  

	 	14.3.2	Each Seller’s Asset Account statement will be updated on a daily basis and may be consulted by the relevant Seller through Web Services. 

 

	14.4	Offset and Adjustment Account—OAA 

  

	 	14.4.1	In order to enable an accounting follow-up of the performance of the Servicing Mandate of each Seller, the following operations will be recorded in a Sub-Account of such Seller designated as the Offset and Adjustment
Account or OAA: 

  
 32 

	 	(a)	the collections received under the Transferred Receivables will be recorded as credit on the OAA, 

  

	 	(b)	information on transfers (images de règlement), cheques for cashing and bills due as itemised in the “settlements situation” files forwarded by such Seller will be recorded as debit from the OAA
in accordance with the technical methods approved by the Parties. 

  

	 	14.4.2	In principle, the balance of the Offset and Adjustment Account should be zero. In practice, this will not be the case due to the time difference of operations. If there are credit balances relating to payments of
amounts which are not related to Transferred Receivables or which are related to Non-Financeable Receivables, such balances will thus be reimbursed to the Current Account, after reconciliation of the relevant Seller’s debtor files with the
Factor’s debtor files in accordance with Clause 13.8 (Undue amounts) or in accordance with Clause 9.5.1. In case of a debit balance of the Offset and Adjustment Account, such balance may be applied to a Deferred Availability Account.

  

	 	14.4.3	The OAA of each Seller will be closed upon the termination of the Servicing Mandate of such Seller. 

  

	14.5	Dilution Reserve 

  

	 	14.5.1	Purpose 

 The dilution reserve (the “Dilution Reserve”) is a Sub-Account of
each Seller’s Current Account the purpose of which is to protect the Factor against Dilution risks relating to the Financeable Receivables transferred by such Seller. 
  

	 	14.5.2	Constitution 

  

	 	(a)	The Dilution Reserve Required Amount shall be: 

  

	 	(i)	until the occurrence of a Stop Purchase Event or the sending of a Termination Notice, an amount equal for each Seller to the product of (A) the higher of (aa) the sum of the Dilution Rate applicable to such Seller
and three (3) percent and (bb) five (5) percent and (B) the Outstanding Amount at that time of all Financeable Receivables Assigned by such Seller (including VAT); and 

 

	 	(ii)	upon the sending of a Termination Notice or the occurrence of a Stop Purchase Event, an amount equal for each Seller to the higher of the product of (A) the higher of (aa) the sum of the Dilution Rate applicable to
such Seller and three (3) percent and (bb) ten (10) percent, and (B) the Outstanding Amount at that time of all Financeable Receivables Assigned by such Seller (including VAT) and the Minimum Dilution for such Seller,

 and shall be funded by way of direct debit of the Current Accounts. On each Assignment Date or at least once per calendar
week, downward or upward adjustments to the Dilution Reserve shall be calculated by the Factor and shall be made by the Factor by crediting (or debiting, respectively) the Current Account at that date each in an amount necessary to maintain the
Dilution Reserve at a level equal to the Dilution Reserve Required Amount. 

  
 33 

	 	(b)	Any event taken into account in determining the amount of the Dilution Reserve shall be taken into account only once and only in respect of such reserve. 

 

	 	14.5.3	Utilisation 

  

	 	(a)	The Factor may draw from the Dilution Reserve of a Seller the sums necessary to cover a debit balance of such Seller’s Current Account to the extent that such debit position results from a Dilution relating to
Financeable Receivables. 

  

	 	(b)	Following the Transaction Settlement Date, each Seller shall ensure that its Current Account has a credit balance. Should this be the case, upon transfer from the Dilution Reserve to the Current Account of any remaining
amount in excess of the Dilution Reserve Required Amount, the Factor will transfer in cash by wire transfer the amount of such excess to each relevant Seller. 

  

	 	(c)	As from the Transaction Settlement Date, the remaining balance (if positive) of the Dilution Reserve of such Seller shall be returned to the relevant Seller at the latest ten (10) Business Days following
such date. This Clause 14.5.3 (Utilisation) shall survive the termination of this Agreement. 

  

	14.6	Deferred Availability Account 

  

	 	14.6.1	The deferred availability account (the “Deferred Availability Account”) is a Sub-Account of each Seller’s Current Account opened to facilitate the monitoring of Reserves which shall
consist in (i) Non-Financeable Amounts, (ii) Disputed Receivables which have been Definanced in accordance with Clause 11.1 (Disputed Receivables and Defaulted Receivables), (iii) Defaulted Receivables which have been Definanced in accordance
with Clause 11.1 (Disputed Receivables and Defaulted Receivables) and (iv) the debit balance of the Offset and Adjustment Accounts. 

  

	 	14.6.2	The relevant Deferred Availability Account of any Seller will be credited with the amount of any Reserve (such amount being transferred from such Seller’s Current Account) and will be debited with the amount of any
such Reserve upon the event having justified the constitution of Reserves having ceased to exist (and the amount so debited shall be transferred to the credit of such Seller’s Current Account). 

 

	14.7	Set-Off Reserve 

  

	 	14.7.1	The set-off reserve (the “Set-Off Reserve”) is a Sub-Account of each Seller’s Current Account the purpose of which is to cover the risk of: 

 

	 	(a)	set-off arising from Tolling or Pseudo Tolling in respect of the Financeable Receivables transferred by the relevant Seller unless non set-off agreements satisfactory to the Factor are entered into between the Sellers
and their relevant Debtors (for the avoidance of doubt, such agreements shall be fully enforceable by the Factor against the relevant Debtors); 

  

	 	(b)	set-off arising from any sale of goods or provision of services by any Debtor to the relevant Seller in respect of which such Seller owes to such Debtor any payment, prepayment, contribution or similar arrangement
(other than the Airbus Advance), unless the relevant Debtor has written to the relevant Seller and the Factor in terms satisfactory to the Factor agreeing that it will not set-off any such payment, prepayment, contribution or similar arrangement due
to it from the Seller against monies payable by it in respect of that Receivable to the Factor; and 

  

  
 34 

	 	(c)	as from the occurrence of the Airbus Reserve Trigger only, set-off between Transferred Receivables owed by Airbus and the Airbus Advance, until the earlier of receipt by the Factor of evidence: 

 

	 	(i)	of a waiver satisfactory to the Factor from the relevant Airbus entities of their right to set-off any amount owed under the Airbus Advance; or 

 

	 	(ii)	that any Airbus Advance has been repaid to the relevant Airbus entity or allocated to any project between Airbus and any entity of the Group and is therefore no longer due to the relevant Airbus entity, in which case
the restitution shall be made up to the amount so repaid or allocated. 

  

	 	14.7.2	Upon the occurrence of any set-off arising pursuant to paragraphs 14.7.1(a), 14.7.1(b) or 14.7.1(c) and affecting a Financeable Receivable, the Factor shall be entitled to debit the Set-Off Reserve with the amount of
such set-off. For the avoidance of doubt, any risk and event taken into account in the Set-Off Reserve shall be taken into account only once and only with respect to such reserve (to the exclusion of the Dilution Reserve). 

 

	 	14.7.3	The amounts of each Set-Off Reserve will be adjusted upward or downward on a monthly basis according to the evolution of data regarding (i) Tolling, Pseudo Tolling or (ii) the sales of goods and provisions of
services mentioned in paragraph 14.7.1(b) and (iii) the amount of the Airbus Advance, provided by each Seller to the Factor and shall be paid by debit or credit of the Current Account of the relevant Seller on the relevant Assignment Date. The
Factor will notify in writing the relevant Seller of any such adjustment. 

  

	14.8	Devaluation Reserve 

  

	 	14.8.1	As from the date on which the relevant Seller transfers to the Factor Receivables held against Airbus arising from any commercial contract other than an airware contract (the “Airbus Receivables”), a
devaluation reserve (the “Devaluation Reserve”) shall be constituted by the Factor in respect of such Airbus Receivables in order to cover the Factor against additional set-off risk if, with respect to any calendar month during
which Airbus Receivables have been transferred to the Factor, the Metal Floating Price is below the Metal Invoicing Price (the positive difference between the Metal Floating Price and the Metal Invoicing Price being referred to herein as the
“Metal Price Devaluation”). 

  

	 	14.8.2	 Within five (5) Business Days (the “Devaluation Reserve Calculation Date”) following the last Business Day of each calendar
month during which the Devaluation Reserve is required to be constituted pursuant to sub-paragraph (a) above (the “Devaluation Reserve Reference Month”), the relevant Seller shall communicate to the Factor (i) the Metal
Floating Price and (ii) the turnover (chiffres d’affaires) and related metal tonnage carried out by the relevant Seller with Airbus (excluding those corresponding to supplies under the airware contracts) during the Devaluation Reserve
Reference Month, as well as the Metal Invoicing Price on the basis of which such turnover has been invoiced to Airbus. To the extent a Metal Price Devaluation appears on the Devaluation Reserve Calculation Date, the Factor shall constitute the
Devaluation Reserve on such date by 

  
 35 

	 	
way of debit from the relevant Current Account by an amount equal to the Metal Price Devaluation, as applied to the metal tonnage communicated by the relevant Seller for the relevant Devaluation
Reserve Reference Month. 

  

	 	14.8.3	The Devaluation Reserve shall be restituted to the relevant Seller by way of credit from the relevant Current Account on the immediately following Devaluation Reserve Calculation Date (at which date the Devaluation
Reserve (if any) for the following Devaluation Reserve Reference Month shall be calculated and constituted in accordance with the foregoing). 

  

	 	14.8.4	Any event taken into account in any Reserve constituted pursuant to this Clause 14.8 shall be taken into account only once, and only in respect of such reserve (to the exclusion of the Dilution Reserve or the Specific
Reserve (as the case may be)). 

  

	15.	REMUNERATION OF THE FACTOR 

  

	15.1	Factoring Commission 

  

	 	15.1.1	Purpose 

 Each Seller shall pay to the Factor, with respect to any Approved Receivables
originated by it a factoring commission (the “Factoring Commission”) in consideration of the services provided by the Factor under this Agreement. For the avoidance of doubt, the Factoring Commission does not include any costs,
fees, commissions or expenses in respect of the Credit Insurance Policy, which shall be borne by each Seller. 
  

	 	15.1.2	Amount and calculation 

 The rate of the Factoring Commission is set at zero point ten per
cent. (0.10%) of the aggregate Face Value of each Approved Receivable (VAT included). 
  

	15.2	Special Financing Commission (SFC) 

  

	 	15.2.1	Principle 

  

	 	(a)	Each Seller shall pay to the Factor a special financing commission equal to the sum of Financing Commissions per Receivables for all Financeable Receivables included in the relevant Financing Request (the
“Special Financing Commission”) in respect of the amounts Financed by the Factor to such Seller on any Assignment Date by way of debit of the Current Account of each Seller on such date. 

 

	 	(b)	The Financing Commission per Receivable is calculated upfront for the relevant next following Adjusted Expected Financing Period per Receivable on a Receivable-by-Receivable basis by applying the SFC Rate
to the Financing Commission Assessment Base per Receivable. The Financing Commission Rate is calculated as follows: 

 FCPR
= FCABR x SFC Rate x (AEPR /360) 
 Where: 

FCPR is the Financing Commission per Receivable, 

FCABR is the Financing Commission Assessment Base per Receivable; and 

  
 36 

 AEPR is the Adjusted Expected Financing Period per Receivable. 

And where : 
 Actual Average
Financing Period is calculated for each batch of Financeable Receivables contained in any Financing Request as the weighted average of all Actual Financing Periods per Receivable of all Receivables contained in the previous Financing Request
addressed to the Factor. 
 Actual Financing Period per Receivable is the actual number of calendar days from (and including) the
Financing Date to (and excluding) the day communicated by the Seller (to be tested and confirmed from time to time by way of samples taken by the Factor) of actual repayment of each Financeable Receivable set out in any Financing Request. 

Adjustment means the positive difference (if any) between the Actual Average Financing Period and the Average Expected Financing Period
for a batch of Financeable Receivables contained in a Financing Request. 
 Adjusted Expected Financing Period per Receivable for the
first Financing under this contract is the Expected Financing Period per Receivable. For subsequent Financing the Adjusted Expected Financing Period per Receivable is equal to the Expected Financing Period per Receivable plus the Adjustment
calculated for the relevant previous batch of Financeable Receivables Financed, provided that the Adjusted Expected Financing Period per Receivable shall, for the purposes of the calculation of the Financing Commission per Receivable, never be less
than 10 calendar days. 
 Average Expected Financing Period is the weighted average of Expected Financing Periods per Receivable for
all Financeable Receivables set out in any Financing Request. 
 Expected Financing Period per Receivable means, with respect to any
Financeable Receivable the expected number of calendar days from (and including) the relevant Financing Date to (and excluding) the relevant maturity date. 

Financing Commission Assessment Base per Receivable means at any time an amount equal to the Financed Amount originated by the relevant
Seller divided by the number of outstanding Financed Receivables. 
 Financing Date means, with respect to any Financeable
Receivable, the date on which such Financeable Receivable becomes a Financed Receivable. 
  

	 	15.2.2	Value Dates 

 Any credit and debit made from or to the Current Account, or recorded on the
Asset Account, shall be made for value in accordance with the provisions of SCHEDULE 7 (Value Dates). 
  

	15.3	Arrangement Fee 

 The Sellers shall pay on the Signing Date to the Factor an arrangement fee
(the “Arrangement Fee”) equal to EUR 150,000, calculated pro rata of the allocation of the average Outstanding Amount of Transferred Receivable over the last 12 months preceding the Signing Date between the Sellers. 

  
 37 

	15.4	Non-Utilization Fee 

 So long as the Commitment Period is outstanding, the Sellers shall pay the
Non-Utilization Fee on a yearly basis on each anniversary date of the Signing Date, calculated pro rata of the allocation of the average Outstanding Amount of Transferred Receivable over the preceding last 12 months between the Sellers. 

 

	15.5	VAT 

 The Factoring Commission, the Special Financing Commission, the Arrangement Fee and the
Non-Utilization Fee are expressed VAT excluded. 
  

	15.6	Specific pricing and collection or transfer charges 

  

	 	15.6.1	All additional services of the Factor other than those set out in Clauses 8 (Assignment of Receivables) and 9 (Financing of Financeable Amounts) shall be subject to a specific price determination detailed
in the Client Guide or, otherwise, in a quotation submitted to the Sellers’ Agent for their approval. 

  

	 	15.6.2	The Current Accounts shall be debited by the amount of specific collection or transfer charges relating to those additional services, all of which shall be entirely borne by the Sellers. 

 

	15.7	Effective Global Rate 

  

	 	15.7.1	For the application of the provisions of Article R.313-1-1 of the French Monetary and Financial Code, each Party acknowledges that, taking into account the specificity of this Agreement (in particular the variable
nature of the SFC rate), the taux effectif global (the “Effective Global Rate”) cannot be calculated on the Signing Date but an indicative calculation of such rate shall be provided in this Clause 5 (Effective Global
Rate). 

  

	 	15.7.2	In application of Article R.313-1-1 of the French Monetary and Financial Code, the indicative calculation of the Effective Global Rate applicable to this Agreement for Financing in Euros, on the basis of an arithmetic
average of the daily EURIBOR rates for the month of December being set at 0%, is 1,62% per year as of the Signing Date. 

  

	 	15.7.3	In application of Article R.313-1-1 of the French Monetary and Financial Code, the indicative calculation of the Effective Global Rate applicable to this Agreement for Financing in USD, on the basis of an arithmetic
average of the daily LIBOR rates for the month of December being set at 0,37%, is 2,00% per year as of the Signing Date. 

  

	 	15.7.4	This rate is calculated, as an indication only, on the basis of a 365 day year (366 days for leap years) during the term of this Agreement, pursuant to the terms and conditions that normally apply, namely the following
assumptions: 

  

	 	(a)	a level of Financing under this Agreement equal to the Maximum Total Financing Amount; 

  

	 	(b)	an average delay in payments by the Debtors of : 

  

	 	(i)	fifty-nine (59) calendar days for Constellium Issoire; 

  
 38 

	 	(ii)	forty-five (45) calendar days for Constellium Neuf Brisach; and 

 sixty-five
(65) calendar days for Constellium Extrusions France. 
  

	 	(c)	a Special Financing Commission as specified in Clause 15.2 (Special Financing Commission (SFC)); 

  

	 	(d)	the Dilution Reserve as specified in Clause 14.5 (Dilution Reserve); and 

  

	 	(e)	the Non-Utilization Fee as specified in clause 15.4 (Non-Utilization Fee). 

  

	 	15.7.5	Even if the reference rate of the Special Financing Commission does not vary, the Effective Global Rate may increase or decrease during the term of this Agreement depending on changes to the various assumptions set out
above and/or contractual parameters. 

  

	16.	TAXES 

  

	16.1	All duties, taxes and similar levies (except those already covered in other provisions of this Agreement) which are due in connection with the transfer of Receivables contemplated in this Agreement and any Transfer
Documents shall be borne by the relevant Seller. 

  

	16.2	Tax gross-up 

 All payments to be made by each Seller under this Agreement shall be made free
and clear of and without deduction or withholding for or on account of all duties, taxes and levies (a “Tax”) unless a payment is subject to the deduction or withholding of Tax pursuant to an applicable law, in which case the sum
payable by the relevant Seller in respect of which such deduction or withholding is required to be made shall be increased to the extent necessary to ensure that, after the making of the required deduction or withholding, such party receives and
retains (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received and so retained had no such deduction or withholding been made or required to be made. 

 

	16.3	Tax indemnity 

  

	 	16.3.1	Without prejudice to the provisions of Clause 16.2 (Tax gross-up) if the Factor is required to make any payment of or on account of Tax to any taxing authority on or in relation to any sum received or
receivable by the Factor under a Factoring Facility Document (including, without limitation, any sum received or receivable under this Clause 16 (Taxes), each Seller shall, upon demand of the Factor, indemnify the Factor against such payment
or liability, together with any interest, penalties and expenses payable or incurred in connection therewith. 

  

	 	16.3.2	If all or part of a Tax which caused a Seller to pay a Tax indemnity pursuant to Clause 16.3.1 was not correctly or legally imposed or asserted and is, as a result, subsequently refunded to the Factor by the relevant
Tax authority, the Factor will repay to the relevant Seller such Tax indemnity up to the amount of such refund, but after deducting therefrom the after-tax amount of any non tax-related loss or expense suffered thereon in the hands of the Factor, to
the extent that such loss or expense has not been refunded to the Factor pursuant to Clause 20 (Costs and Expenses) of this Agreement. 

  

  
 39 

	16.4	Claims by the Factor 

 If the Factor intends to make a claim pursuant to Clause 16.3 (Tax
indemnity) it shall, promptly upon becoming aware of such Tax being imposed, notify the relevant Seller of the event by reason of which it is entitled to do so, (which notice shall include reasonable details of the amount claimed and the basis
of calculation of such amount) provided that nothing herein shall require the Factor to disclose any confidential information relating to the organization of its affairs. 
  

	16.5	Exclusions to Tax gross-up and Tax indemnities 

 The provisions of Clause 16.2 (Tax
gross-up) and Clause 16.3 (Tax indemnity) shall not apply: 
  

	 	16.5.1	with respect to any Tax assessed or calculated by reference to the net income received or receivable (but not any sum deemed to be received or receivable) by the Factor under the law of the jurisdiction in which the
Factor is incorporated; 

  

	 	16.5.2	with respect to any Tax assessed as a direct result of the breach by the Factor of its express obligations hereunder or under any other Factoring Facility Document, or the wilful misconduct or gross negligence of the
Factor; 

  

	 	16.5.3	with respect to any Tax that would not have arisen but for: 

  

	 	(a)	the failure by the Factor to file any relevant Tax return, Tax computation or other statement or document which the Factor was obliged to file by any law of its jurisdiction of incorporation; or 

 

	 	(b)	any failure by the Factor to provide in due time to any Seller any document necessary for the application of any relevant or applicable double taxation treaty, including certification of tax residence of the Factor
issued by the tax administration competent for the Factor which any Seller may reasonably have requested the Factor in writing to provide (to the extent any such request being made in a timely manner and containing all necessary details to enable
the Factor to comply with the terms thereof), 

 except: 

 

	 	(i)	where any such failure was directly or indirectly caused by the relevant Seller (including, without limitation, failure to provide the Factor with any necessary information) or by any event or circumstance outside the
reasonable control of the Factor, or 

  

	 	(ii)	where it would be illegal or contrary to any applicable law for the Factor to do so. 

  

	 	16.5.4	with respect to any Tax assessed as a result of a payment being made to a bank account opened in a financial institution located in a Non-Cooperative Jurisdiction or to a beneficiary that is incorporated, domiciled, or
acting through an office located, in a Non-Cooperative Jurisdiction; and 

  

	 	16.5.5	to any assignee of the rights and obligations of the Factor under the Agreement in accordance with Clause 24 Change to the Parties), to the extent that such gross-up payment or indemnities
referred to in Clause 16.2 (Tax gross-up) or 16.3 (Tax indemnity) would not have been due by the relevant Seller if the Factor had not assigned or transferred its right or obligations to the relevant
third party. 

  
 40 

	16.6	Tax receipts 

  

	 	16.6.1	Notification of requirement to deduct Tax 

 If, at any time, a Seller is required to make any
deduction or withholding from any sum payable by it hereunder (or if thereafter there is any change in the rates at which or the manner in which such deductions or withholdings are calculated), such Seller shall promptly notify the Factor of the
same. 
  

	 	16.6.2	Evidence of payment of Tax 

 If a Seller makes any payment hereunder in respect of which it is
required to make any deduction or withholding, it shall pay the full amount required to be deducted or withheld (being the minimum amount which it is legally required to pay) to the relevant taxation or other authority within the time allowed for
such payment under applicable law and shall deliver to the Factor within thirty (30) days after receipt thereof, an original receipt (or a certified copy thereof) issued by such authority (if any such receipt is issued) evidencing the payment
to such authority of all amounts so required to be deducted or withheld in respect of such payment. 
  

	 	16.6.3	Tax and other affairs 

 No provision of this Agreement shall interfere with the right of the
Factor to arrange its Tax or any other affairs in whatever manner it thinks fit, oblige the Factor to claim any other credit, relief, remission or repayment in respect of any payment under Clause 16 (Taxes) in priority to any credit, relief,
remission or repayment available to it nor oblige the Factor to disclose any information relating to its Tax or other affairs or any computations in respect thereof 
  

	 	16.6.4	Tax credit payment 

 If an additional payment is made under Clause 16 (Taxes) by a
Seller for the benefit of the Factor, the Factor shall use reasonable efforts to recover or obtain any credit against, relief or remission for, or repayment of, any Tax, that it may be entitled to on account of such withholding or deduction, then,
if obtained, the Factor shall, to the extent that it can do so without prejudice to the retention of the amount of such credit, relief, remission or repayment, notify the relevant Seller of such determination and pay to the relevant Seller such
amount up to the amount which will leave the Factor (after such payment) in no worse after-Tax position than it would have been in had the additional payment in question not been required to be made by the relevant Seller. The Factor agrees that in
determining (in its sole opinion) whether any such credit against, relief or remission for, or repayment of, any Tax is in respect of or calculated with reference to the additional payment made pursuant to Clause 16 (Taxes) (as aforesaid) it
shall not discriminate against the relevant Seller as compared with entities which the Factor considers (in its sole and absolute discretion) are comparable as at the relevant time to the relevant Seller in the context of determining the
availability and application of realised tax credits, reliefs, remissions or repayments of Taxes unless required to do so by any applicable law, regulation or policy. 

  
 41 

	 	16.6.5	Tax credit claw back 

 If a Seller makes any payment to the Factor pursuant to Clause 16
(Taxes) and the Factor subsequently determines that the credit, relief, remission or repayment in respect of which such payment was made was not available or has been withdrawn or that it was unable to use such credit, relief, remission or
repayment in full, such Seller shall reimburse the Factor the amount necessary to place it in the same after-Tax position as it would have been in if such credit, relief, remission of repayment had been obtained and fully used and retained by the
Factor. 
  

	 	16.6.6	Mitigation 

  

	 	(a)	Each Party shall, in consultation with each other, agree to discuss in good faith any reasonable steps that could be taken in order to mitigate any circumstances which may arise and which would result in any amount
becoming payable under or pursuant to, or cancelled pursuant to Clause 16 (Taxes). 

  

	 	(b)	Paragraph (a) above does not in any way limit the obligations of any Seller under this Agreement. 

  

	 	(c)	The relevant Seller shall promptly indemnify the Factor for all costs and expenses reasonably incurred by the Factor as a result of steps taken by it under this Clause 16.6.6 (Mitigation). 

 

	 	(d)	The Factor is not obliged to take any steps under Clause 16.6.6 (Mitigation) if, in the opinion of the Factor (acting reasonably), to do so might be prejudicial to it. 

 

	 	(e)	The affected Seller shall be entitled to stop assigning the relevant Receivable(s) as from the date on which it is required to make a gross-up or indemnity payment 

 

	17.	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS 

  

	17.1	Representations and warranties of the Sellers, the Sellers’ Agent and the Parent Company 

Each Sellers, and as applicable the Sellers’ Agent and the Parent Company make the representations, warranties set out in sections 1.1
(Representations and warranties relating to the Sellers) and 1.2 (Representations and warranties relating to the Receivables) of SCHEDULE 6 (Representation, Warranties). 

 

	17.2	Undertakings of the Sellers and the Parent Company 

 Each Sellers, and as applicable the
Sellers’ Agent and the Parent Company undertakes as set out in section 2 (Undertakings) of SCHEDULE 6 (Representation, Warranties) 
  

	18.	TERM AND EARLY TERMINATION 

  

	18.1	Term 

  

	 	18.1.1	During the Commitment Period, and subject to the application of Clauses 18.3 and 18.4, the Factor and each of the Sellers agree not to terminate the Agreement. 

 

	 	18.1.2	As from the end of the Commitment Period, this Agreement will be deemed to be of indeterminate duration, with each of the Factor and the Sellers having the right to terminate the Agreement at any time, subject to a
three (3) month prior notice, by sending a registered mail, return receipt requested. Upon the expiry of such three (3) month prior notice period, the Factor shall no longer purchase Eligible Receivable under this Agreement.

  

	 	18.1.3	This Agreement shall terminate on the Transaction Settlement Date. 

  
 42 

	18.2	Stop Purchase Event 

 Upon the occurrence of any of the following events, the Factor shall be
entitled to refuse to purchase any Receivable in relation to the relevant affected Seller(s) (each, a “Stop Purchase Event”): 
  

	 	(a)	a change of control occurs in respect of the Parent Company, pursuant to which any person or group of persons acting in concert (a) holds directly or indirectly more than 10% of the share capital or the voting
rights of the Parent Company or (b) owns the right to determine the composition of the majority of the board of directors (or equivalent) of the Parent Company (a “Parent Change of Control”), unless the new shareholder of the
Parent is subject to, or affected by, Sanctions in which case an Event of Default shall be deemed to have occurred; 

  

	 	(b)	a change of control occurs in respect of any Seller, pursuant to which any person or group of persons acting in concert (other than the Parent Company and, the Sellers’ Agent) (a) holds directly or indirectly
more than 50% of the share capital or the voting rights of such Seller or (b) owns the right to determine the composition of the majority of the board of directors (or equivalent) of such Seller (a “Seller Change of Control”)
unless the new shareholder of the Seller is subject to, or affected by, Sanctions in which case an Event of Default shall be deemed to have occurred; 

  

	 	(c)	the non-renewal or termination of a Credit Insurance Policy or any other circumstance that may result in the Factor no longer benefitting from the Insurance Indemnification under the Credit Insurance, that is not
promptly notified to the Factor, resulting in the Factor being not informed in due time by the Sellers, provided that if within sixty (60) Business Days of such non-renewal or termination, another Credit Insurance Policy approved by the Factor
is entered into, such Stop Purchase Event shall be deemed to be cured and the Factor will resume purchasing Eligible Receivable unless such delay in informing the Factor was caused by the wilful misconduct of the relevant Seller; 

 

	 	(d)	any Seller repeatedly fails to comply with the material terms and conditions of the Credit Insurance Policy, to the extent such failure adversely affects the rights of the Factor under the Credit Insurance Policy;

  

	 	(e)	the non-renewal or termination of a Credit Insurance Policy, with effect as of such termination date or non-renewal date and such terminated Credit Insurance Policy having not been replaced, as of such termination date,
by another Credit Insurance Policy approved by the Factor, provided that if within sixty (60) Business Days of such non-renewal or termination, another Credit Insurance Policy approved by the Factor is entered into, such Stop Purchase Event
shall be deemed to be cured and the Factor will resume purchasing Eligible Receivable; 

  

	 	(f)	the Credit Insurer no longer qualifies as an Acceptable Credit Insurer and within sixty (60) Business Days of the Factor notifying the relevant Seller of the downgrading, the relevant Seller (or the Sellers’
Agent acting on its behalf), does not find a successor Acceptable Credit Insurer, it being understood that, during that sixty (60) Business Days, the Factor may Finance new Receivables from the relevant Sellers at its entire discretion;

  
 43 

	 	(g)	any Party becomes aware that any of the Collection Account Guarantee Agreements ceases to be legal, valid, binding and enforceable (opposable) in its entirety, unless within fifteen (15) Business Days from
the sending of a Cure Notice, the relevant Seller instructs all its Debtors to pay the amounts they owe under any Receivable to the credit of an account opened under the name of the Factor; 

 

	 	(h)	any Party becomes aware that any Transfer Document ceases to be legal, valid, binding or would prove to be unenforceable under French law after appropriate notification is made to the Debtor, unless within ten
(10) Business Days from the sending of a Cure Notice, such illegality, invalidity or unenforceability is cured; or 

  

	 	(i)	the statutory auditor of any Seller requests that a general meeting of the shareholders of the relevant Seller, or as the case may be, the Parent Company, be convened in accordance to article L. 234-2 et seq. of
the French Code de commerce, or any similar applicable law, unless the Factor and the Parent Company have agreed, within 10 Business Days of the relevant convening notice, on the implementation of satisfactory measures to remedy such
situation (including, for instance, on the withdrawal of the relevant Seller from the Factoring Facility), 

 Further to the
occurrence of a Stop Purchase Event with respect to any Seller, the Maximum Total Financing Amount may be reduced by the Factor up to the Financed Amount in relation to such Seller, at the date on which such Stop Purchase Event occurred. 

 

	18.3	Default 

 To the best of its knowledge, upon the relevant Seller or the Parent Company becoming
aware of the occurrence of an event occurring under this Clause 18.3 and constituting a Default, it shall promptly notify the Factor of the occurrence of such Default by sending a default notice to the Factor (the “Default Notice”).

  

	 	18.3.1	Occurrence of a Default regarding all Sellers and the Parent Company 

  

	 	(a)	Upon receiving a Default Notice from the relevant Seller or the Parent Company in respect of a Default referred to in this Clause 18.3.1, or upon becoming aware of a Default referred to in this Clause 18.3.1, the Factor
may send a cure notice to the Sellers and the Parent Company (a “Cure Notice”) setting forth the relevant Default(s) and the applicable grace period(s) (if any). 

 

	 	(b)	If the relevant Default(s) referred to in the Cure Notice is(are) not cured or waived within applicable grace period (if any), the Factor may, after due consideration of the impact of such event on the situation of the
Sellers (taken as a whole), upon the expiry of a three (3) Business Day prior notice sent to the Sellers and the Parent Company (a “Termination Notice”): 

 

	 	(i)	if such event occurs before the end of the Commitment Period, terminate the Commitment Period and the Factor will continue to purchase Eligible Receivables for an undetermined length provided that any Party shall be
entitled to stop the purchasing of Receivables under this Agreement subject to a three (3) month prior notice (sent by registered letter with acknowledgement of receipt) to the other Party; and/or 

  
 44 

	 	(ii)	stop purchasing any new Receivables, provided however that the provisions of this Agreement in relation to Transferred Receivables Assigned prior to the occurrence of such event will remain in full force and effect;
and/or 

  

	 	(iii)	terminate the Servicing Mandate and take immediately any of the actions set out in Clauses 13.10.1(a)(i) to 13.10.1(a)(iii) in relation to the Sellers; and/or 

 

	 	(iv)	exercise any or all of its rights, remedies, powers or discretions under the Factoring Facility Documents (including under the Collection Account Guarantee Agreements) with respect to all the Sellers. 

 

	 	(c)	Each of the following events constitutes an Event of Default in respect of the Sellers and the Parent Company, whether or not the occurrence of the relevant event is outside the control of any entity of the Group or any
other person: 

  

	 	(i)	the Parent Company (i) becomes insolvent for the purposes of any insolvency law; or (ii) by reason of its actual or anticipated financial difficulties, suspends making payments on all or a substantial part of
its debts; 

  

	 	(ii)	steps have been taken by the Parent Company or, so far as the Parent Company is aware, by any other person, that would constitute, or already constitutes, an Insolvency Proceeding in respect of the Parent Company (or
any other equivalent proceeding under any applicable law) unless, in relation to such steps or procedures effectively taken or started, such steps or procedures are (i) promptly contested by the Parent Company and (ii) are finally
dismissed within twenty (20) days from the sending of the Cure Notice; 

  

	 	(iii)	the occurrence of a Cross-Acceleration; 

  

	 	(iv)	the occurrence of an Event of Default referred to in Clause 18.3.2(c) below with respect to all Sellers; 

  

	 	(v)	the occurrence of the Event of Default referred to in Clause 18.2(a) or Clause 18.2(b); or 

  

	 	(vi)	(A) any party to the Agreement, (other than the Factor) challenges the validity or enforceability (opposabilité) of any material right or obligation thereunder or under the Parent Performance
Guarantee; (B) the Agreement or the Parent Performance Guarantee, ceases to be legal, valid, binding and enforceable (opposable) in its entirety (including the provisions relating to Servicing Mandate). 

 

	 	18.3.2	Occurrence of a Default regarding any Seller 

  

	 	(a)	Upon receiving a Default Notice from the relevant Seller in respect of a Default referred to in this Clause 18.3.2, or upon becoming aware of a Default referred to in this Clause 18.3.2, the Factor may send a Cure
Notice to the relevant Seller setting forth the relevant Default(s) and the applicable grace period(s) (if any). 

  
 45 

	 	(b)	If the relevant Default(s) referred to in the Cure Notice is(are) not cured or waived within applicable grace period (if any), the Factor may, after due consideration of the impact of such event on the situation of the
Sellers (taken as a whole): 

  

	 	(i)	if such event occurs before the end of the Commitment Period, terminate the Commitment Period with respect to the affected Seller (only) and the Factor will continue to purchase Eligible Receivables from such Seller for
an undetermined length provided that any Party shall be entitled to stop the purchasing of such Receivables from such Seller under this Agreement subject to a three (3) month prior notice (sent by registered letter with acknowledgement of
receipt) to the other Party; and/or 

  

	 	(ii)	stop purchasing any new Receivables originated by the affected Seller(s), provided however that the provisions of this Agreement in relation to Transferred Receivables Assigned prior to the occurrence of such event will
remain in full force and effect; and/or 

  

	 	(iii)	take any of the actions set out in Clause 13.10 (Consequences of the revocation of the Servicing Mandates) in relation to the relevant Seller; and/or 

 

	 	(iv)	exercise any or all of its rights, remedies, powers or discretions under the Factoring Facility Documents (including under the Collection Account Guarantee Agreements) with respect to the affected Seller(s) (only).

  

	 	(c)	Each of the following events constitutes an Event of Default in respect of the relevant Seller, whether or not the occurrence of the relevant event is outside the control of any entity of the Group or any other person:

  

	 	(i)	steps have been taken by such Seller or, so far as such Seller is aware, by any other person, that would constitute, or already constitutes any in respect of such Seller, any proceeding (other than an Insolvency
Proceeding) under Livre VI of the French Commercial Code, as amended from time to time (or equivalent proceeding under any applicable law) unless, in relation to such steps or procedures effectively taken or started, such steps or procedures
are (i) promptly contested by such Seller and (ii) are finally dismissed within twenty (20) days from the sending of the Cure Notice to the relevant Seller; 

 

	 	(ii)	such Seller fails to comply with its obligations under the Factoring Facility Documents (other than resulting from Clause 17 (Representations, Warranties and Undertakings)) to the extent such
failure has a Material Adverse Effect and, if capable of remedy, continues unremedied for a period of five (5) Business Days from the sending of the Cure Notice to such Seller; 

 

	 	(iii)	such Seller is in breach of any of the representations, warranties and undertakings given in Clause 17 (Representations, Warranties and Undertakings) to the extent such failure has a
Material Adverse Effect, and, if capable of remedy, continues unremedied for a period of: 

  
 46 

	 	(1)	five (5) Business Days, for the events referred to in SCHEDULE 6, Clauses 1.1(e), 1.2(t), 1.2(o), 2(t), to 2(v), 2(x), 2(z) to 2(ff), and 2(gg) to 2(jj); or 

 

	 	(2)	seven (7) Business Days, for the events referred to in SCHEDULE 6, Clauses 1.1(a) and 1.1(d); or 

  

	 	(3)	ten (10) Business Days, for the events referred to in SCHEDULE 6, Clauses 1.1(b), 1.1(c), 1.1(f) to 1.1(i), 1.1(k), 1.1(l), 2(w), and 2(y); or 

 

	 	(4)	fifteen (15) Business Days, for the event referred to in SCHEDULE 6, Clause 1.1(j); or 

  

	 	(5)	up to the next Assignment date, for the undertaking set out in Clause 8.1.4(b); 

 from the
sending of the Cure Notice to such Seller; 
  

	 	(iv)	the occurrence of any of the following events: (A) the auditor of any Seller and of the Parent Company raises reservations as to the accounts of such Seller or the Parent Company to the extent such reservation
reflects serious deficiencies in accounting (which excludes any observation in the auditor’s report in connexion with the implementation of new accounting standards or with major accounting estimates that would trigger going concern issues (as
defined in the relevant Accounting Principles)); or (B) significant delays or any aggravation of delays for payment in respect of suppliers and unsecured or secured creditors (such as inter alia the French Trésor Public,
Urssaf, caisses de retraite etc.) of such Seller (other than resulting from the normal course of such Seller’s business) which, individually or collectively, would have a Material Adverse Effect; 

 

	 	(v)	such Seller challenges the validity or enforceability (opposabilité) of any material right or obligation under any Factoring Facility Document (other than the Agreement or the Parent Performance
Guarantee); or 

  

	 	(vi)	such Seller has knowingly omitted or concealed material information or has knowingly made false statements to the Factor regarding any material information to be provided by such Seller upon the signature of any of the
Factoring Facility Documents or during the course of the performance thereof. 

  

	18.4	Voluntary Withdrawal 

  

	 	18.4.1	As from the date falling 12 months after the Signing Date, the Parent Company shall be entitled to request the Factor by sending it a thirty (30) day prior notice, that any Seller withdraw from the
Agreement. 

  

	 	18.4.2	Upon the withdrawal of any Seller pursuant to paragraph 18.4.1 above the Factor shall be entitled to reduce the Maximum Total Financing Amount provided that: 

 

	 	(a)	the amount of such reduction shall not exceed an amount corresponding to the product of (a) the Maximum Total Financing Amount, and (b) the average share over the last 12 months of the aggregate outstanding
Transferred Receivables which were transferred by the withdrawing Seller in the aggregate outstanding Transferred Receivable; 

  
 47 

	 	(b)	The Factor shall send a ten (10) Business Days prior notice of such reduction (including the amount by which it reduces the Maximum Total Financing Amount) to the Parent Company; and 

 

	 	(c)	If as a result of a request from the Parent Company pursuant to Clause 9.3.3 all the Sellers are to withdraw from the Agreement, the Maximum Total Financing Amount shall be reduced to zero. 

 

	18.5	Preservation of parameters 

 Upon the sending of a Termination Notice with respect to a Seller
arising under Clause 18.3.2 or the withdrawal of a Seller arising under Clause 18.4, the Parties agree to negotiate in good faith on any amendment to the Agreement or the Factoring Facility Documents which would be required or desirable to ensure
the economic and financial parameters of the Transaction, as originally set out on the date of signature of the Agreement, are preserved. 
  

	19.	ACCESS TO WEB SERVICES 

  

	19.1	General 

  

	 	19.1.1	In order to enable the Sellers to access all management information in connection with this Agreement, the Factor has created Web Services (FACTONET) the content and mode of operation whereof are described in the Client
Guide. Web Services provide detailed online information regarding the Seller’s factoring accounts and those of its Debtors, which the Sellers may download onto its micro-computer. The Sellers shall bear all related costs, including the costs of
telecommunications. Access to the Web Services is only possible through confidential codes, an identification code and a password, which shall be communicated to each Seller upon the signature of this Agreement. 

 

	 	19.1.2	Web Services as a whole will be free of charge for the Sellers. Any additional information services, namely documentation in paper form, will be subject to the specific pricing outlined in the Client Guide or, failing
this, in a quotation submitted to the Sellers’ Agent’s approval. Such remuneration will be drawn on the Current Account. 

  

	19.2	Intellectual property rights—Granting of a license 

  

	 	19.2.1	All intellectual property rights and copyright concerning the Web Services, their presentation, contents (software, visual, sound functionalities, Clauses and generally all information contained in relation to such
services) are works protected by the French Intellectual Property Code and international agreements concerning copyright, that exclusively belong to the Factor, in their former, current and future versions. Any complete or partial reproduction or
broadcast by whatever means, is strictly forbidden without the prior written agreement of the Factor. 

  

	 	19.2.2	The Factor grants to each Seller a non-exclusive license to use the specific software referred to in Clause 19.1 (General), exclusively for its own use and for the sole purpose of carrying out, in connection with
the performance of this Agreement, the transactions which are described in the Client Guide. Each Seller shall comply with the conditions of the license contract which shall be given to it with the software. It agrees to return the said software to
the Factor promptly upon the Transaction Settlement Date and to destroy all copies thereof which it may have made. 

  
 48 

	19.3	Liabilities 

 The Parties shall not be liable for the malfunction of the telephone lines and
equipment necessary for using the Web Services, for the use which is made thereof or for the results obtained. Moreover, subject to reasonable prior information, the Factor may interrupt or update at any time the operation of the Web Services, in
particular in order to maintain the quality, reliability, safety and/or performance thereof. In no event shall the Parties be liable for the consequences, in particular, loss of data, operational losses or any other financial loss which may result
from any of the events above. 
  

	19.4	Confidentiality—Liability 

 The Factor has taken all necessary measures in order to protect
the confidentiality of access to information. Each Seller agrees that the access codes shall remain secret. It shall be solely responsible for such codes, including their conservation, confidentiality and use. The Factor shall in no event be liable
in the event of abusive or fraudulent use thereof, due to a voluntary or involuntary disclosure of the confidential codes by each Seller to any person whatsoever. Each Seller guarantees that it will at all times comply with all laws and regulations
applicable to the use of Web Services. Each Seller undertakes that its employees shall comply with the provisions of this Clause. 
  

	20.	COSTS AND EXPENSES 

  

	20.1	Subject to Clause 20.2, each Seller and the Parent Company shall bear all reasonable external costs and expenses reasonably incurred and duly documented by the Factor, if any (including external counsel’s cost and
other third parties costs), in connection with (i) the due diligences carried out in relation to the Factoring Facility Documents (including the audits referred to in Clause 13.7 (Factor’s controls and audits) up to the amounts
referred to under Clause 13.7.3), (ii) the preparation, negotiation, execution, completion and implementation of the Factoring Facility Documents (including in connection with the issuance of any legal opinion), in each case to the extent accepted
in advance by the Parent Company on the basis of a detailed fee proposal. 

  

	20.2	Each Seller and the Parent Company shall bear all costs and expenses (including legal fees) reasonably incurred and duly documented by the Factor in connection with: 

 

	 	20.2.1	the formalities required to be carried out for the enforceability or to enforce the transfer of Receivables transferred to the Factor pursuant to the Factoring Facility; or 

 

	 	20.2.2	any amendment, waiver or consent relating to any of the Factoring Facility Documents requested by the Parent Company; 

  

	 	20.2.3	the protection or enforcement of any provision, security or guarantee benefitting to the Factor under the Factoring Facility Documents; or 

 

	 	20.2.4	any translation into English of any Factoring Facility Document drafted in a local language and vice versa. 

  

	20.3	 To the extent amounts (i) are due by a Seller and/or the Parent Company under any Factoring Facility Document in respect of services provided by
the Factor to them and are substantiated by an invoice, and (ii) remain unpaid on the relevant due date indicated therein, (a) a late 

  
 49 

	 	
penalty interest equal to the rate of the Special Financing Commission shall accrue, to the fullest extent permitted by law, on the amounts due under such invoice from the date following the due
date up to the date of actual payment and (b) a fixed fee for collection charges (indemnité forfaitaire pour frais de recouvrement) of forty Euro (40€) may be charged by the Factor to the relevant Seller and/or the
Parent Company (as applicable). 

  

	20.4	All fees and other amounts payable hereunder are exclusive of any value added tax. 

  

	21.	CONFIDENTIALITY—UTILISATION OF INFORMATION COLLECTED BY THE FACTOR—SUBSTITUTION 

  

	21.1	Confidentiality 

  

	 	21.1.1	Each Party agrees that both prior to the end of the Commitment Period and thereafter until the expiry of a twenty four (24) month period therefrom (the “Confidentiality Period”) it will
(i) keep confidential and not divulge or disclose to any individual, person or entity whatsoever, in whole or in part, neither orally nor in writing nor in whatever other form, any information of whatever nature obtained in the context of the
Factoring Facility relating to the Sellers, the Sellers’ Agent, the Debtors, the Receivables and the Factor or any other matters communicated by a Party to another in the context of the Factoring Facility or of which it may otherwise have come
in possession in the context of the Factoring Facility (including the Factoring Facility Documents and any information concerning the identity of any Debtors) (the “Confidential Information”) and (ii) take all the steps
necessary to avoid any such disclosure or use so as to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information and not use, in whole or in part, any
Confidential Information for any purpose other than the purpose for which it is disclosed. 

  

	 	21.1.2	At any time until the end of the Confidentiality Period, upon request of a Party, the recipient shall promptly return to such Party, or confirm in writing to such Party, the intervened destruction of any documents
containing Confidential Information, with the exception of copies (i) that have become a part of the recipient’s corporate records and which shall be required for audit, legal, regulatory or internal compliance purposes as set out below or
(ii) that the relevant Party reasonably needs for the protection or enforcement of any of its rights under this Agreement, insofar as such disclosure is expressly permitted by the provisions of the Factoring Facility Documents or strictly
necessary for the purpose of discharging its obligations under or in connection with the Factoring Facility Documents. Such return, or confirmation of destruction, shall be not only of all such documents, but also of any copies thereof made by the
recipient and any other documents in the possession of the recipient incorporating Confidential Information, 

  

	 	21.1.3	The relevant recipient will be responsible for making its own evaluation of, and enquiries in respect of, the Confidential Information, A Party does not make any representation as to the accuracy or completeness of the
Confidential Information and shall have no liability as a result or use of, or reliance on, any information delivered to the recipient in accordance with this Agreement. 

 

	 	21.1.4	The provisions of this Clause 21.1 (Confidentiality) shall not prevent the Sellers or the Parent Company from: 

  

	 	(a)	disclosing the Factoring Facility Documents on a strict “need-to-know” and confidential basis for the purposes of: 

  
 50 

	 	(i)	any financing or refinancing transaction occurring at the level of the Obligors; or 

  

	 	(ii)	any acquisition, merger or corporate reorganization (or any transaction having a similar effect) affecting directly or indirectly the Sellers, the Parent Company or the Sellers’ Agent. 

 

	 	(b)	disclosing the existence of the Factoring Facility and its main characteristic in any prospectus or other offering document relating to any securities issued or applied by any member of the Group, provided that the
commercial and financial terms (such as the pricing of the Factoring Facility) shall not be disclosed. 

  

	 	21.1.5	Any Party may, subject (where applicable) to Article L. 511-33 of the French Monetary and Financial Code disclose the Confidential Information: 

 

	 	(a)	to its employees, direct or indirect shareholders, officers or, subject to prior notice thereof provided by the Factor to the Parent Company pursuant to this Agreement, any permitted assignee of the Factor under any
Factoring Facility Document (provided that such persons undertake to keep Confidential Information confidential); 

  

	 	(b)	in connection with any proceedings arising out of or in connection with any Factoring Facility Document or the preservation or maintenance of its rights thereunder; 

 

	 	(c)	if required to disclose Confidential Information by an order of a court of competent jurisdiction whether in pursuance of any procedure for discovering documents or otherwise, provided that the person to whom
Confidential Information is given is informed of its confidential nature unless, in the opinion of that Party, it is not practicable to do so; 

  

	 	(d)	pursuant to any law or regulation or requirement of any governmental agency in accordance with which that party is required or accustomed to act (including for the purpose of filing the Form 20-F of the US Securities
and Exchange Commission or as required by the rules of any stock exchange where any Seller, the Parent Company or any of their Affiliates is listed); 

  

	 	(e)	to any governmental, regulatory, banking or taxation authority having jurisdiction over that party, provided that the person to whom Confidential Information is given is informed of its confidential nature unless, in
the opinion of that Party, it is not practicable to do so. 

  

	 	(f)	to its auditors or legal or other professional advisers on a “need-to-know basis” only (provided that such third party owe a duty of confidentiality to that party); or 

 

	 	(g)	to any sub-contractor assisting the Factor in the collection of the Receivables, subject to a confidentiality undertaking. 

  

	21.2	Utilisation of information collected by the Factor 

  

	 	21.2.1	For the purpose of internal control, the Factor is expressly authorised by the Sellers and the Parent Company to provide the information referred to in Article L.511-34 al. 1 of the French Monetary and Financial Code,
to its shareholders. 

  
 51 

	 	21.2.2	Any information to which the Factor may have access to in the context of the performance of this Agreement may be provided to: 

  

	 	(a)	any majority-owned entity of the Factor Group, for statistical, commercial or risk purposes, subject to a confidentiality undertaking; 

 

	 	(b)	the Banque de France or any regulatory or banking authority, for statistical purposes only; or 

  

	 	(c)	agents (mandataires) of the Factor for the performance of this Agreement, subject to a confidentiality undertaking. 

  

	21.3	Collection of personal data 

  

	 	21.3.1	In compliance with the provisions of French Data Protection Law No. 78-17 of 6 January 1978 (as amended), the Factor automatically processes personal information relating to the corporate officers of the
Sellers, the Parent Company and the Sellers’ Agent and some of their employees, including the Factor’s contact persons or the representatives who sign the Factoring Facility Documents, the Transfer Documents and any related document.

  

	 	21.3.2	Personal data is processed and kept strictly to provide the services hereunder. However, the Factor may need to provide such data to other companies of the group to which it belongs, in particular, in the United States
of America, in accordance with applicable law or regulations. In this regard, each of the Sellers, the Parent Company and the Sellers’ Agent acknowledge and agree that its corporate officers and employees have agreed that the information
referred to in this Clause may be transferred. 

  

	 	21.3.3	Such individuals may have access to their personal data and request that any errors relating to them be rectified or deleted by contacting the Factor’s sales department at the address mentioned in Clause 22.1
(Notices between the Parties). 

  

	22.	MISCELLANEOUS PROVISIONS 

  

	22.1	Notices between the Parties 

  

	 	22.1.1	Notices shall be deemed to have been given on the date of the receipt of a registered letter, or on the date of the document attesting the receipt of an e-mail by the duly authorised representative of the other Party.
In the event that contractual provisions provide for notification without specifying the form thereof, the said notification may be made by electronic mail, normal letter mailed or hand delivered, registered letter or registered letter with
acknowledgement of receipt. 

  

	 	22.1.2	The address (and the department or officer, if any, to whose attention the communication is addressed) of each Party for any communication or document to be made or delivered under or in connection with this Agreement
is, in the case of each Party that identified with its name below, or any substitute address or department or officer as the Party may notify to the other Party by not less than five (5) Business Days’ notice: 

  
 52 

							
	 Party
	  	 Name
	  	 Details
	  	 
	 Parent Company
	  	Constellium Holdco II B.V.	  	Address:	  	 (c/o Constellium Paris)
 40-44, rue Washington,
75008 Paris, France

	  	  	Attention:	  	Laurent Schmitt
	  	  	e-mail:	  	laurent.schmitt@constellium.com
	  	  	Copy:	  	Jeremy Leach, VP and General Counsel Constellium
	  	  	e-mail:	  	Jeremy.leach@constellium.com
	 Sellers’ Agent
	  	Constellium Switzerland AG	  	Address:	  	Max-Högger-Strasse 6—8048 Zurich
	  	  	Attention:	  	Mr. Mark Kirkland, Director Treasury & Enterprise Risk Management
	  	  	e-mail:	  	Mark.Kirkland@constellium.com
	 Seller
	  	Constellium Issoire	  	Address:	  	ZI des Listes—63502 Issoire
	  	  	Attention:	  	Marc Monaco
	  	  	e-mail:	  	marc.monaco@constellium.com
	 Seller
	  	Constellium Neuf Brisach	  	Address:	  	 ZIP Rhenane Nord-RD 52
 68600
Bisheim

	  	  	Attention:	  	Attention: Thierry Malraison
	  	  	e-mail:	  	thierry.malraison@constellium.com
	 Seller
	  	Constellium Extrusions France	  	Address:	  	Site de Nuits-Saint-Georges, 1 pas Eiffel, BP 46 Nuits-Saint-Georges, 21702 Nuits-Saint-Georges Cedex
	  	  	Attention:	  	Matthieu Tardi
	  	  	e-mail:	  	Matthieu.Tardi@constellium.com
	 Factor
	  	GE Factofrance	  	Address:	  	 GE Factofrance
 Tour Facto, 18, rue Hoche

92988 Paris La Défense
 France

	  	  	Attention:	  	Christine Vadon
	  	  	e-mail:	  	Christine.Vadon@ge.com
	  	  	Fax:	  	+ 33 (0)1 46 35 17 04

  
 53 

	22.2	Rights of the Parties 

 No failure to exercise, nor any delay in exercising, on the part of any
Party, any right or remedy under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 
  

	22.3	Amendments 

 Any amendment of the terms of this Agreement shall be made in writing by all the
Parties. 
  

	22.4	Partial invalidity 

 If, at any time, any provision of this Agreement is or becomes illegal,
invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other
jurisdiction will in any way be affected or impaired. 
  

	22.5	No joint obligations 

 The obligations of each Seller under the Factoring Facility Documents are
several (conjointes et non solidaires). No Seller is responsible for, or in any manner guarantor of, the obligations of any other Seller under the Factoring Facility Documents. 

 

	23.	APPOINTMENT OF SELLERS’ AGENT 

  

	23.1	Each Seller hereby appoints the Sellers’ Agent as its lawful agent (mandataire) in order to do all such things that may be specifically delegated to it under this Agreement for and on behalf of such Seller.

  

	23.2	The Sellers’ Agent hereby accepts its appointment to act as lawful agent (mandataire) of each Seller in respect of the foregoing tasks. 

 

	23.3	Subject to sub-paragraph (f) below, the appointment, duties and authority of the Sellers’ Agent shall be valid and effective as from the date of its appointment and remain in full force and effect until the
Transaction Settlement Date. 

  

	23.4	The Sellers’ Agent shall have such rights, powers and authorities and discretions as are conferred on it by this Agreement, together with such rights, powers and discretions as are reasonably incidental thereto.

  

	23.5	The performance of its obligations by the Sellers’ Agent shall release and discharge the relevant Seller with respect to, and to the extent of, the obligations, duties and liabilities so performed by the
Sellers’ Agent. 

  

	23.6	The Sellers’ Agent may be replaced by another member of the Group (a “Substitute Sellers’ Agent”) upon written request sent by all Sellers to the Factor subject to 30 days’ prior written
notice and provided that such Substitute Sellers’ Agent has accepted in writing to perform all obligations of the Sellers’ Agent hereunder. 

  
 54 

	23.7	The Sellers’ Agent shall not be liable to any person for any breach by any Seller of this Agreement (or any other document) or be liable to any Seller for any breach by any other person of this Agreement or any
other document. 

  

	23.8	The Sellers’ Agent shall not be remunerated. 

  

	24.	CHANGE TO THE PARTIES 

  

	24.1	Assignment and transfers by the Sellers 

 No Seller shall be entitled to assign or transfer any
of its rights and/or obligation under any Factoring Facility Document without the Factor’s prior written consent. 
  

	24.2	Assignment and transfer by the Factor 

  

	 	24.2.1	The Factor may assign or transfer its rights and obligations in full under any Factoring Facility Document if such assignment or transfer: 

 

	 	(a)	is to an Affiliate of the Factor; 

  

	 	(b)	is made at a time when an Event of Default is continuing; or 

  

	 	(c)	otherwise, has received the previous written consent of the Parent Company, 

 provided that
such assignment or transfer: 
  

	 	(d)	shall not cause the Parent Company or any of the Sellers to incur any additional costs; 

  

	 	(e)	shall not affect the rights of the Parent Company or of any of the Sellers under any Factoring Facility Documents; and 

  

	 	(f)	shall not affect the validity of the Jurisdiction Matrix set out in SCHEDULE 16 (Jurisdiction Matrix) 

  

	 	24.2.2	Notwithstanding the provision of Clause 24.2.1 above, the Factor shall be entitled, to assign, transfer or pledge any Transferred Receivable, if the following conditions are met: 

 

	 	(a)	the aggregate amount of Receivables transferred directly or indirectly to a transferee shall not exceed at any time fifty per cent (50%) of the aggregate amount of all Transferred Receivable; 

 

	 	(b)	the Parent Company shall be previously informed in writing of such transfer and be provided with reasonable details about the identity of the relevant transferee; 

 

	 	(c)	the relevant transferee shall not be a competitor of the Parent Company (or any of its Affiliate); 

  

	 	(d)	the relevant transferee shall have undertaken to the benefit of the Seller (in terms reasonably satisfactory to the relevant Seller), (i) not to disclose any information relating to the Parent Company, the Group,
the Seller, this Agreement or any terms of any Receivable, (ii) not to assign or transfer by any means such right or receivable, in each case without the prior consent of the relevant Seller (not to be unreasonably withheld) and (iii) not
to disclose the relevant assignment unless expressly permitted in the Agreement; 

  

  
 55 

	 	(e)	the transfer to the relevant transferee shall not have any effect on the rights (including, for the avoidance of doubt, the right of the Seller to buy-back certain Receivables as and when provided for in this Agreement)
and/or obligations of any Seller and will not cause any Seller to bear any additional taxes, costs or expenses; and 

  

	 	(f)	the relevant transferee is not a person (i) whose business includes arms, weapons, weapon components or military equipment or any goods or services the supply or receipt of which is contrary to applicable law
(including without limitation applicable national and international export control, trade sanction and embargo laws, regulations, treaties and conventions) or (ii) otherwise subject to any Sanction. 

 

	24.3	Substitution 

 Without prejudice to the provisions of Clause 13.1 (Servicing
Mandate) and Clause 23.6, unless agreed in writing by the Factor, any Seller, the Sellers’ Agent, and the Parent Company shall not in any way whatsoever be substituted by another party for the performance of its rights and obligations under
any Factoring Facility Document. 
  

	24.4	Accession of Additional Sellers 

  

	 	24.4.1	The Parties agree that, from time to time and subject to Clauses 24.4.2 and 24.4.3, the Parent Company may request that any of its subsidiaries located in France accede to this Agreement as additional seller (an
“Additional Seller”). 

  

	 	24.4.2	Promptly upon receipt of that request, subject to compliance with Clause 24.4.3, the Parties shall determine and agree in good faith the timing for the accession of such Additional Seller. 

 

	 	24.4.3	The accession of such Additional Seller shall be subject to: 

  

	 	(a)	execution and delivery by the Additional Seller of an Accession Form to the Factor; 

  

	 	(b)	the prior approval of the credit committee of the Factor; 

  

	 	(c)	the conduct of appropriate audits and due diligence (on the Additional Seller, its Receivables, the agreements pursuant to which its Receivables are originated, its Credit and Collection Procedures, and its IT systems),
the results and conclusions of which are confirmed by the Factor as being reasonably satisfactory; 

  

	 	(d)	the satisfaction of conditions precedent for the accession being substantially similar to the conditions precedent applicable to the Sellers as set out in SCHEDULE 5 (Conditions Precedent) (to the extent such
conditions are applicable) but without prejudice to the right for the Factor to subject its internal approval process to the delivery of satisfactory analysis or advice on potential conflicts of laws issues; and 

  
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	 	(e)	the Additional Seller, the Parent Company, the Sellers or the Sellers’ Agent agreeing to bear all costs and expenses (including legal fees) reasonably incurred and duly documented by the Factor in connection with
(i) any audits/due diligence required for the purposes of the accession of such Additional Seller and (ii) the negotiation and drafting of any amendment to a Factoring Facility Document or credit insurance policy required for the purposes
of such accession, including, inter alia, any agreed increase of the Maximum Total Financing Amount. 

  

	25.	APPLICABLE LAW—JURISDICTION 

  

	25.1	Subject to Clause 6.2 above, the provisions of this Agreement shall be construed in accordance with and shall be governed by French law. 

 

	25.2	Each of the Parties to this Agreement agrees that any and all disputes arising out of or in connection with this Agreement and in particular with its validity, interpretation, performance or non-performance, shall be
exclusively referred to the competent courts of the Paris Court of Appeals 

  

	25.3	Each Party to this Agreement irrevocably waives any objection which it might now or hereafter have to the courts referred to in Clause 6.2 being nominated as the forum to hear and determine any suit, action or
proceedings, and to settle any disputes, which may arise out of or in connection with this Agreement and agrees not to claim that any such court is not a convenient or appropriate forum. 

  
 57 

 SCHEDULE 3. 

DEFINITIONS 
 In this
Agreement, the following expressions used with a capital letter shall, except where the context otherwise requires, have the following meanings: 

“Acceptable Credit Insurer” means a credit insurer: 
  

	(i)	which is a credit insurer being incorporated in a country of the OECD; 

  

	(ii)	whose long term obligation are rated at least BBB- by Standard & Poor’s or Fitch Ratings or Baa3 by Moody’s; 

  

	(iii)	which is capable of, and agrees to, enter into credit insurance policies governed by French law (or any other law approved by the Parties); and 

 

	(iv)	which is capable of making electronic data transfers in a manner satisfactory to the Factor, 

 provided that
should a credit insurer not comply with one or more of the above criteria, such other credit insurer shall be approved by the Factor (such approval not to be unreasonably withheld). 

“Accession Form” means an accession form substantially in the form of SCHEDULE 17 (Accession Form). 

“Accounting Group” means Constellium N.V.and its Affiliates. 

“Accounting Principles” means in relation to the Parent Company and any Seller, generally accepted accounting principles in its jurisdiction
of incorporation, and used in the financial statements or accounts to be remitted by the Parent Company and the Sellers to the Factor pursuant to this Agreement. 

“Additional Seller” has the meaning ascribed to such term in Clause 24.4 (Accession of Additional Sellers). 

“Affected Receivables” has the meaning ascribed to such term in Clause 11.3.1. 

“Affiliate” means as to a specified entity, an entity that directly or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, the entity specified. 
 “Agreement” means this factoring agreement. 

“Airbus” means the companies listed in SCHEDULE 20 (List of Airbus Companies). 

“Airbus Advance” means (i) the eight millions euros (EUR 8.000.000) advance currently made by Airbus to Constellium Issoire, or
(ii) any other advance made at any time by Airbus to any Seller. 
 “Airbus Receivable” has the meaning ascribed to such term in
Clause 14.8.1 
 “Airbus Reserve Trigger” means any of the following events: 

  
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	(v)	on 1st July 2016, the Factor has not received a waiver satisfactory to it from any relevant Airbus entity of its right to set-off any amount owed under the
Airbus Advance; and 

 the creditor of the Airbus Advance is a Debtor of any Transferred Receivable, unless the relevant Airbus entities have
provided a waiver, satisfactory to the Factor, of their right to set-off any amount owed under the Airbus Advance. 
 “Approval Limit”
means in relation to any Debtor the lesser of (i) the Credit Insurer Approval Limit applicable to such Debtor and (ii) the Factor Approval Limit applicable to such Debtor. 

“Approved Currency” means Euros (EUR) and US Dollars (USD) or any other currency on which the Factor has given its prior approval from time
to time. 
 “Approved Debtor” means a Debtor in respect of which the Credit Insurer has agreed under the Credit Insurance Policy, to cover
the non-payment of all or part of the Receivables owed by such Debtor to any Seller. 
 “Approved Receivable” means in respect of any
Seller on any Assignment Date, any Transferred Receivable (i) the sum of the Face Value of which, together with the Face Value of all outstanding Financeable Receivables held against the same Debtor on such date, does not exceed the Approval
Limit applicable to such Debtor, and (ii) which is indemnifiable under the Credit Insurance Policy (quotité assurée) for at least ninety per cent (90%) of its Outstanding Amount. 

“Arrangement Fee” has the meaning ascribed to such term in Clause 15.3 (Arrangement Fee). 

“Asset Account” means the account of each Seller recording the relevant Outstanding Amounts of the Transferred Receivables. 

“Assignment” means any assignment, sale or transfer of receivables made by each Seller to the Factor in accordance with the Transfer Mode and
this Agreement and to “Assign” means the making of an Assignment pursuant to this Agreement and the applicable Transfer Mode. 

“Assignment Date” shall have the meaning given to that term in Clause 8.1.3(a). 

“Available Financing Account” has the meaning ascribed to such term in Clause 14.2 (Available Financing Account). 

“Average Dilution Rates” means, at any time, in relation to any Seller, as observed over the last three (3) calendar months, the average
rate of the Dilutions calculated by the Factor on a monthly basis as a percentage of the aggregate amount of all Transferred Receivables relating to that Seller. 

“Ban on Assignment” means, with respect to any Receivable, any ban or restriction on assignment, sale, transfer or requirement of any prior
consent from the relevant Debtor or from any third parties which would validly prevent the legal transfer of such Receivable or any Related Security or the enforceability of such transfer towards the relevant Debtor if such consent is not obtained.

 “Bank” means the credit institutions in the books of which the Collection Accounts identified in SCHEDULE 12 (Collection
Accounts) are opened, that is, BNP Paribas, HSBC and Deutsche Bank, together with any other credit institution that may be agreed from time to time between the Factor and the relevant Seller. 

  
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 “Bank Account(s)” means in relation to any Seller, the bank account(s) of such Seller the
details of which will be notified to the Factor at the latest on the First Assignment Date and on which Financings will be made available to it, or such other bank account opened in the name of any Seller as such Seller (or the Sellers’ Agent
acting on its behalf) may from time to time specify in writing to the Factor. 
 “Business Day” means a day (other than a Saturday or a
Sunday) on which banks are generally open for normal business in Paris, New York and Amsterdam. 
 “Change of Control” means, as the case
may be, a Parent Change of Control and/or a Seller Change of Control. 
 “Client Guide” means the guide which has been given by the Factor
to the Sellers and which is also accessible through Web Services. 
 “Collection Accounts” means: 

 

	(vi)	the bank account(s) listed in SCHEDULE 12 (Collection Accounts) (as amended from time to time) opened in the name of each Seller in the books of the Bank(s) ; or 

 

	(vii)	any other bank account that may be opened after the date hereof, at the request of the relevant Seller, for the purposes of receiving the settlements under the Transferred Receivables, as agreed from time to time
between the relevant Seller and the Factor (provided, in each case, that a Collection Account Guarantee Agreement shall have been entered into and shall be in force in respect thereof). 

“Collection Account Guarantee Agreements” means (i) the agreements entered into between a Seller, the Factor and, as the case may be,
the relevant Bank and which provide, as the case may be, for the pledge or security trust for the benefit of the Factor over such account or its credit balance, or for the assignment by way of security for the benefit of the Factor of the receivable
constituted by the positive balance of the Collection Accounts and, (ii) as the case may be, the acknowledgement letters by the relevant Bank in respect of such pledge or security trust for the benefit of the Factor and fulfilling the
requirement of Clause 13.3 (Collection of the Transferred Receivables). 
 “Commitment Period” means, subject to the provisions of
Clause 18 (Term and Early Termination) a period starting on the Signing Date and ending on the earlier of: 
  

	(viii)	the last Business Day of the thirty-sixth (36th) calendar month from the Signing Date (as such date may be postponed from time to time by the Parties);

  

	(ix)	if the Maximum Total Financing Amount is reduced to zero in accordance with Clause 9.3 (Maximum Total Financing Amount) before the end of this 36 month period, the date on which the Maximum Total Financing Amount is
reduced to zero in accordance with Clause 9.3 (Maximum Total Financing Amount); 

  

	(x)	in relation to any Seller, the date on which a Termination Notice is sent in relation to such Seller in accordance with Clause 18.3 (Default) or such Seller is effectively withdrawn from the Factoring
Facility in accordance with Clause 18.4 (Voluntary Withdrawal)(as applicable); and 

  

	(xi)	in relation to any Seller, the date on which a Stop Purchase Event occurs in relation to such Seller. 

  
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 “Computer Relationship Guide” means the procedures and outlines set out in SCHEDULE 9 SCHEDULE
9 (Computer Relationship Guide). 
 “Concentration Limit” means, on any Assignment Date, with respect to any Debtor and
its Affiliates, the maximum amount of Transferred Receivables (including VAT) owed by such Debtor and its Affiliates that the Factor may Finance and which may not exceed at any time forty per cent (40%) of the Outstanding Amount of Transferred
Receivables assigned by all Sellers. 
 “Confidential Information” has the meaning ascribed to such term in Clause 21.1.1. 

“Constellium Issoire” means a company incorporated under the laws of France as a société par actions simplifiée,
whose registered office is located at rue Yves Lamourdedieu, Zone Industrielle Les Listes, 63500 Issoire, France, registered with the Trade and Companies Registry of Clermont-Ferrand under number 672 014 081; and 

“Contract” means in relation to any Receivable, any and all contracts, instruments, agreements, invoices (including, as the case may be, any
purchase order, certificate of transport (bon du transporteur or equivalent documents), expedition certificate (bon d’expédition or equivalent documents), delivery certificate (bon de livraison or similar document)
or similar document) pursuant to or under which a Debtor becomes or is obligated to make payments on or in respect of such Receivable. 
 “Credit and
Collection Procedures” means the Sellers’ own credit collection procedures and processes, as amended from time to time, provided that the initial Credit and Collection Procedures are set out SCHEDULE 8 (Credit And Collection
Procedures). 
 “Credit Insurance Policy” means each of: 

 

	(xii)	the credit insurance policy entered into on or about the Signing Date pursuant to which the Transferred Receivables denominated in Euro to be transferred by the Sellers to the Factor; and 

 

	(xiii)	the credit insurance policy entered into on or about the Signing Date pursuant to which the Transferred Receivables denominated in USD to be transferred by the Sellers to the Factor, 

are credit insured for an aggregate amount equal at least to the Maximum Insurance Liability, or any other credit insurance policy entered into from time to
time by the Sellers and the Factor with any Acceptable Credit Insurer. 
 “Credit Insurer” means: 

 

	(o)	Atradius Credit Insurance NV, a company located 44 avenue George Pompidou, 92596 Levallois Perret cedex, France, registered under number 417 498 755 with the Registre du commerce et des
sociétés of Nanterre, branch of Atradius Credit Insurance NV headquartered at David Ricardostraat 1 – 1066 JS Amsterdam (NL), Trade Register 33024388; or 

 

	(p)	any other credit insurer which is an Acceptable Credit Insurer. 

 “Credit Insurer Approval
Limit” means in relation to any Debtor, the amount up to which the Credit Insurer has accepted to insure Receivables owed by such Debtor at the request of the relevant Seller, as such amount may be adjusted from time to time by the Credit
Insurer in accordance with the Credit Insurance Policy, provided that any such adjustment will apply only to Eligible Receivables to be originated after such adjustment. 

  
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 “Credit Note” means any credit note issued by a Seller to a Debtor in respect of a Transferred
Receivable. 
 “Cross-Acceleration” means, in respect of any Financial Indebtedness (other than any financial indebtedness owed to another
member of the Group) of the Parent Company, any Seller, the aggregate outstanding amount of which exceeds fifty million Euros (EUR 50,000,000), any event of default (however described): 

 

	(i)	with respect to any Financial Indebtedness other than the ones referred to in paragraph (lvii) of the definition of Financial Indebtedness, which has led the relevant lenders or financing parties to notify, as
applicable, the Parent Company, or the relevant Seller of the acceleration of such relevant Financial Indebtedness; or 

  

	(ii)	with respect to any Financial Indebtedness referred to in paragraph (lvii) of the definition of Financial Indebtedness, which has led any counterparty to early terminate such Financial Indebtedness further to a breach
of the Parent Company or the relevant Seller of its obligations thereunder. 

 “Cure Notice” has the meaning ascribed to such
term in Clause 18.3.1(a). 
 “Current Account” means, in relation to any Seller, the current account (compte courant) opened in the
Factor’s books in the name of such Seller in accordance with Clause 14.1. (Current Account) As at the Signing Date, the Current Accounts of the Sellers are listed in SCHEDULE 14 (Current Accounts). 

“Debtor” means, in respect of each Transferred Receivable, any legal entity being primarily obliged to pay any amount due thereunder, as
clearly identified at any time in the Records of each Seller. 
 “Debtor Insolvency” means, 

 

	(q)	in respect of any Debtor incorporated in France, the opening of any of the proceedings specified in Book VI of the French Commercial Code, as amended from time to time, including (i) a safeguard (sauvegarde),
(ii) accelerated safeguard (sauvegarde accélérée) (iii) express financial safeguard (sauvegarde financière accélérée), (iv) judicial restructuring (redressement
judiciaire), or (v) judicial liquidation (liquidation judiciaire) proceeding; 

  

	(r)	with respect to any other Debtor, any analogous proceedings in any other relevant jurisdictions; and 

  

	(s)	with respect to any Debtor, any of the events set out in the Credit Insurance Policy under the definition of “Insolvency” (“Insolvabilité”) as set out in the section entitled Stop
Automatique de la Couverture of each Credit Insurance Policy. 

 “Default” means any event or circumstance set out
in Clause 18.3 (Default), which would, with the expiry of a grace period, the giving of notice, the making of any determination or combination of the foregoing, constitute an Event of Default. 

  
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 “Default Notice” has the meaning ascribed to such term in Clause 18.3
(Default). 
 “Defaulted Debtor” means the Debtor of a Defaulted Receivable. 

“Defaulted Receivable” means any Transferred Receivable remaining unpaid in whole or in part by a Debtor for more than sixty
(60) calendar days after its due date and which is not a Disputed Receivable. 
 “Deferred Availability Account” has the meaning
ascribed to such term in Clause 14.6 (Deferred Availability Account). 
 “Definance” means with respect to any
Financed Receivable or Financeable Receivable the fact of debiting, from the relevant Current Account the Outstanding Amount of that Transferred Receivable and of crediting such amount to the relevant Deferred Availability Account. 

“Definanced Receivables” means any Transferred Receivable which has been Definanced. 

“Devaluation Reserve” has the meaning ascribed to such term in Clause 14.8.1. 

“Devaluation Reserve Calculation Date” has the meaning ascribed to such term in Clause 14.8.2. 

“Devaluation Reserve Reference Month” has the meaning ascribed to such term in Clause 14.8.2. 

“Dilution” means, in respect of the Transferred Receivables originated by any Seller, the amount of any Reduction or Cancellation Item, other
than any set-off relating to 
  

	(xiv)	Tolling, Pseudo Tolling; 

  

	(xv)	to the sales of goods and provisions of services mentioned in paragraph 14.7.1(b); or 

  

	(xvi)	as applicable, any set-off between Transferred Receivables owed by Airbus and the Airbus Advance. 

“Dilution Rate” means, at any time, in relation to any Seller, the rate of the Dilutions which arose during the previous calendar month,
calculated by the Factor as a percentage of the aggregate amount of all Transferred Receivables Assigned by that Seller during such month. 

“Dilution Reserve” has the meaning ascribed to such term in Clause 14.5.1 (Purpose). 

“Dilution Reserve Required Amount” means at any time the amount which has to be credited on the Dilution Reserve on such time. 

“Discussion Period”has the meaning ascribed to such term in Clause 13.9.1(a). 

“Disposal” has the meaning ascribed to such term in SCHEDULE 6 (Representation, Warranties). 

“Dispute” means, in relation to any Receivable, 

  
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	(xvii)	the refusal by the relevant Debtor to pay all or part of the Outstanding Amount of such Receivable to the relevant Seller on the grounds that (for a reason other than it being subject to a Debtor Insolvency, and
excluding any stalling tactic) it is not liable to make the relevant payment (including by refusing to pay in the designated currency), such refusal to be evidenced by mail or email from such Debtor to the relevant Seller, or, after the termination
of the Servicing Mandate of such Seller, the Factor, provided that the termination of the Dispute will be evidenced through a written statement from the relevant Debtor or a definite decision of justice recognising the existence of the Receivable
and all amounts due in respect thereof; or 

  

	(xviii)	in the context of a Debtor Insolvency against the Debtor of such Receivable, any decision rendered by the relevant competent insolvency officer or judge rejecting the existence or the amount of such Receivable,
unless such rejection is caused by an improper filing of any relevant claim by the Factor, and provided that if the event which constitutes a Dispute affects only a part of the a Transferred Receivable, only that part shall be deemed to be a
Disputed Receivable. 

 “Disputed Receivable” means any Receivable which is subject to a Dispute. 

“Effective Global Rate” has the meaning ascribed to such term in Clause 5 (Effective Global Rate). 

“Eligible Receivable” means any Receivable which fulfils on the relevant Assignment Date the following criteria: 

 

	(xix)	it is fully owned by the relevant Seller;  

  

	(xx)	it results from the firm sale of products (or the related provision of services) by the relevant Seller in the ordinary course of its business; 

 

	(xxi)	it has been originated and monitored pursuant to the Credit and Collection Procedures; 

  

	(xxii)	it is either (a) governed by French law and is owed by an Approved Debtor located or incorporated in a Relevant Country or (b) the combination of the jurisdiction of its Debtor and of its governing law is set
out in the Jurisdiction Matrix; 

  

	(xxiii)	it is denominated in an Approved Currency; 

  

	(xxiv)	it is not an Excluded Receivable; 

  

	(xxv)	it does not arise out of an invoice issued by a Seller in respect of a Debtor which is a member of the Group; 

  

	(xxvi)	it exists and constitutes legal, valid, binding and enforceable payment obligations of the relevant Debtor; 

  

	(xxvii)	it is fully capable of transfer and it shall not be subject to any Ban on Assignment, unless prior written consent to the Assignment from its Debtor has been obtained in a form and substance substantially similar to the
consent letter set out in SCHEDULE 11 (Form Of Consent Letter); 

  

	(xxviii)	it is not subject to legal or contractual restrictions on confidentiality affecting the validity of its Assignment; 

  

	(xxix)	it is not in the public knowledge that its Debtor, at the time of the Assignment, is subject to any Debtor Insolvency; 

  
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	(xxx)	its Debtor is not a Public Entity or an individual; 

  

	(xxxi)	it does not arise from a public procurement contract; 

  

	(xxxii)	it is free from any security interest, rights of third parties or adverse claims, and has not been previously discounted (escomptée) or assigned, transferred or pledged to third parties or as the
case may be, such security interest, rights of third parties or adverse claims have been waived to the satisfaction of the Factor prior to the Assignment of the Eligible Receivable; 

 

	(xxxiii)	under the contract pursuant to which it arises, it is not payable by means of cash (en espèces) or credit card; 

  

	(xxxiv)	it does not arise under a contract which is a regulated agreement under the French Consumer Code (Code de la consommation); 

 

	(xxxv)	it is not owed by a Debtor in respect of which the Factor is prohibited to purchase receivables pursuant to applicable regulation as notified twenty (20) Business Days in advance by the Factor to the relevant
Seller; 

  

	(xxxvi)	its maturity date falls after the date of the contemplated Assignment to the Factor; 

  

	(xxxvii)	it has a maximum maturity date equal to the lesser of (A) the maximum maturity permitted by any applicable law (or by any applicable business agreement (accord de branche) duly endorsed by way of ordinance
(décret)), (B) the maximum maturity provided under the Credit Insurance Policy and (C) one hundred and fifty (150) days (including any extension request); 

 

	(xxxviii)	unless such Transferred Receivable is a Transferred Receivable on a Debtor offered for the first time to the Factor, the invoice relating to such Transferred Receivable has been issued less than thirty (30) days
before it was Assigned to the Factor; 

  

	(xxxix)	with respect to Rexam Egypt Receivable only, it fulfills the Rexam Egypt Eligibility Criteria. 

“EURIBOR” means, on any day: 
  

	(xl)	the euro interbank offered rate administered by the Banking Federation of the European Money Markets Institute (or any person which takes over the administration of that rate) for Euros on such day and for a three month
term, as displayed on the page EURIBOR01 of the Thomson Reuters screen or any replacement Thomson Reuters page which displays that rate (it being specified that if the relevant page or service is replaced or ceases to be available, the Factor, in
consultation with the Parent Company or the Sellers’ Agent, may specify another page or service displaying the relevant rate); or 

  

	(xli)	(if no such rate is available) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Factor at its request quoted by HSBC France, Crédit Agricole and Crédit Mutuel
(or any other credit institution selected by the Factor in consultation with the Parent Company or the Sellers’ Agent) to leading banks in the European interbank market; 

at such time as is customary for fixing the rate applicable to such term for the offering of deposits in Euro for a period comparable to that term provided
that, if any such rate is below zero, EURIBOR will be deemed to be zero. 

  
 65 

 “Euro” or “EUR” means the single currency of the member states of the European
Union that adopt or have adopted the Euro as their lawful currency in accordance with the legislation of the European Community relating to Economic and Monetary Union. 

“Event(s) of Default” means any event referred to in Clause 18.3.1(c) and 18.3.2(c). 

“Excluded Receivables” means any Receivable which fulfils on the relevant Assignment Date any of the following criteria: 

 

	(xlii)	it is arising from a contract the performance of which has been wholly or partly subcontracted, including pursuant to French law n°75-1334 of 31 December 1975 or any similar applicable law or regulation
granting to the subcontractor a direct claim against the relevant Debtor for the payment owed to such subcontractor by the relevant Seller under the subcontract (save if, to the reasonable satisfaction of the Factor, bank guarantees (to guarantee
payments to the relevant subcontractors) or other relevant arrangements have been implemented in advance in accordance with the above laws and regulations so as to avert the exercise of any such direct claim); 

 

	(xliii)	its payment remains subject on the date on which such Receivable is purported to be Assigned to (A) the verification of the performance of an obligation of the relevant Seller, by the relevant Debtor or any third
party or (B) the completion of additional services, deliveries or other milestones; 

  

	(xliv)	it is owed by a Debtor (or a Debtor’s Affiliate) that is at the same time a supplier (or a member of the same group as the supplier) of the relevant Seller or that is an Affiliate of the Seller, unless if it arises
in connection with a Tolling relationship; 

  

	(xlv)	it solely corresponds to penalties or late payment interest; 

  

	(xlvi)	it is a Disputed Receivable in all or in part; or 

  

	(xlvii)	it is owed by a Debtor which is mentioned on any official list which is binding on the Factor as being subject to Sanctions. 

“Face Value” means, in respect of any Receivable, the nominal amount of such Receivable as at the date of its Assignment to the Factor,
including any VAT applicable thereto. 
 “Factor Approval Limit” shall have the meaning given to that term in Clause 10.2.1 (Approval by
the Factor). 
 “Factor Change of Control” means a change of control pursuant to which any person or group of persons acting in concert or
as of their affiliates (a) holds directly or indirectly more than 50% of the share capital or the voting rights of the Factor or (b) owns the right to determine the composition of the majority of the board of directors (or equivalent) of
the Factor. 
 “Factor Group” means the Factor and any entity which is an Affiliate of the Factor. 

“Factoring Commission” has the meaning ascribed to such term in Clause 15.1.1 (Purpose). 

“Factoring Facility” means the undisclosed non-recourse factoring facility made available by the Factor to the Sellers under the Factoring
Facility Documents. 

  
 66 

 “Factoring Facility Documents” means (i) this Agreement, (ii) the Collection Account
Guarantee Agreements, (iii) the Parent Performance Guarantee, (iv) any document, instrument or agreement entered into between the Parties for the purposes of a Transfer Mode or Retransfer Mode, (v) any Accession Form, (vi) the
Transferred Receivables Ledgers, (vii) the reports or certificates transmitted by the Parent Company or the Sellers to the Factor pursuant to SCHEDULE 6 (Representation, Warranties), or (viii) any document, instrument
or certificate designated as such by the Parties. 
 “Finance Lease” means the leases, financial leases (locations avec option
d’achat) or hire-purchase contracts which would, in accordance with the relevant Accounting Principles, be treated as a finance or capital leases. 

“Finance/Financed” means the fact, for the Factor, of making a Financing available to the Sellers pursuant to the terms of Clause 9
(Financing of Financeable Amounts) of this Agreement. 
 “Financeable Amounts” has the meaning ascribed to such term
in Clause 9.2 (Financeable Amounts). 
 “Financeable Receivable” means an Approved Receivable which fulfils all the
following criteria: 
  

	(xlviii)	it is not a Disputed Receivable in all or in part; 

  

	(xlix)	the Financing of such Transferred Receivable will not trigger a breach of the applicable Concentration Limit (for the avoidance of doubt, the Factor will monitor compliance with the Concentration Limit); and

  

	(l)	it is not yet a Financed Receivable. 

 “Financed Amounts” means, in relation to any Seller,
amounts debited from the Current Account of such Seller and paid in cash by the Factor to such Seller in accordance with Clause 9.1 (Financing). 

“Financed Receivable” means any Financeable Receivable which has been Financed in accordance with Clause 9 (Financing
of Financeable Amounts). 
 “Financial Indebtedness” means, without double-counting, any indebtedness for
or in respect of: 
  

	(li)	monies borrowed and debit balances at banks or other financial institutions; 

  

	(lii)	any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent; 

  

	(liii)	any amount raised pursuant to any note purchase facility or the issue of bonds (other than Trade Instruments) notes, debentures, loan stock or any similar instrument; 

 

	(liv)	the amount of any liability in respect of any Finance Lease; 

  

	(lv)	receivables sold or discounted (except off balance sheet transfers of receivables); 

  

	(lvi)	any amount raised under any other transaction (including any forward sale or purchase agreement) of a type not referred to in any other paragraph of this definition having the financial effect of a borrowing;

  

	(lvii)	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market
value (or, if any actual amount is due as a result of the termination or close-out of that derivative transaction, that amount) shall be taken into account); 

  

  
 67 

	(lviii)	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution; 

 

	(lix)	any amount raised by the issue of redeemable shares which are redeemable (other than at the option of the issuer) before the Transaction Settlement Date or are otherwise classified as borrowings under the Accounting
Principles; 

  

	(lx)	in respect of the Sellers only, the amount of any liability in respect of any guarantee for any of the items referred to in Paragraphs (li) to (lix) above, and in respect of the Parent Company the amount of any
liability in respect of any guarantee for any of the items referred to in Paragraphs (li) to (lix) above, to the extent the payment of any such liability would jeopardize the Parent Company’s ability to face its other Financial Indebtedness.

 “First Assignment Date” means, with respect to any Seller, the first Assignment Date regarding such Seller on or following
the Signing Date. 
 “Form of Notification” means any notice of assignment to Debtors of Transferred Receivables transferred by any Seller
substantially in the form of SCHEDULE 18, Part 3. 
 “Financing” means the amounts made available by the Factor to the Sellers out of
Financeable Amounts pursuant to the terms of Clause 9 (Financing of Financeable Amounts) of this Agreement (it being understood, for the avoidance of doubt, that the Financing shall not constitute a loan to be repaid by the
Sellers to the Factor). 
 “Financing Request” has the meaning ascribed to such term in Clause 9.1.1. 

“Group” means Constellium N.V., the Parent Company, and the Sellers. 

“Indemnification Maximum Payment Date” means, in relation to any Transferred Receivable which is an Approved Receivable, the date immediately
falling one hundred and eighty (180) days after the initial maturity date of the relevant Transferred Receivable (or any other date as may be agreed upon among the relevant Seller, the Factor and the Credit Insurer). 

“Indirect Payment” means any payment by a Debtor in respect of a Transferred Receivable which is not remitted to a Collection Account. 

“Insolvency Proceeding” means in respect of the Parent Company and the Sellers, any of the following events: 

 

	 	(viii)	any corporate action, legal proceedings or other procedure or step is taken in relation to the suspension of payments, a moratorium of any indebtedness, dissolution, the opening of proceedings for sauvegarde
(including sauvegarde financière accélérée or sauvegarde accélérée), redressement judiciaire or liquidation judiciaire or reorganisation of such entity other than a solvent
liquidation or reorganisation of such entity; 

  
 68 

	 	(ix)	it commences proceedings for the appointment of a mandataire ad hoc (on the grounds of financial difficulties) or for a conciliation in accordance with articles L.611-3 to L.611-15 of the French Code de commerce
other than with the Factor; 

  

	 	(x)	a judgement for sauvegarde (including sauvegarde financière accélérée or sauvegarde accélérée), redressement judiciaire or liquidation
judiciaire or for cession totale ou partielle de l’entreprise is rendered in relation to such entity under articles L.620-1 to L.670-8 of the French Code de commerce; and 

 

	 	(xi)	it is in a state of cessation des paiements within the meaning of article L.631-1 of the French Code de commerce. 

“Insolvency Regulations” has the meaning ascribed to such term in SCHEDULE 6 (Representation, Warranties). 

“Insurance Indemnification” means any indemnification under the Credit Insurance Policy. 

“Jurisdiction Matrix” means the list of combinations of Relevant Laws and Relevant Countries set out in SCHEDULE 16 (Jurisdiction Matrix) as
such list may be amended at any time by the Parties. 
 “Legal Reservations” means any legal reservations that are inserted in the legal
opinions delivered in relation to this Agreement. 
 “Letter of Waiver and Consent” means an original copy of a letter substantially in the
form set out in SCHEDULE 22 (Form of Letter of Waiver and Consent). 
 “Margin” means 1,20 % per annum. 

“Material Adverse Effect” means a material adverse effect on: (i) the ability of the Parent Company or the Sellers to perform their
payment or other material obligations (including with respect to their obligations pursuant to the Servicing Mandates) under the Factoring Facility Documents; or (ii) the collectability of the Transferred Receivables (taken as a whole), on a
Seller by Seller basis; or (iii) the validity or the enforceability of any of the Factoring Facility Documents. 
 “Maximum Insurance
Liability” means the global limit of the Credit Insurer’s yearly maximum liability (limite maximum de décaissement) under the Credit Insurance Policy, applicable only to Receivables assigned by the Sellers, set out on the
Signing Date at one hundred and ninety-five million euros (EUR 195,000,000), as such limit may be adjusted downward following the occurrence of one or several indemnification events throughout the year. 

“Maximum Total Financing Amount” means two hundred and thirty five million Euros (EUR 235,000,000) available collectively to the Sellers, as
this amount may be decreased pursuant to Clauses 9.3 (Maximum Total Financing Amount) 18.2 and 18.4 or increased pursuant to Clause 24.4.3(e). 

“Metal Floating Price” means, in respect of any Devaluation Reserve Reference Month, the amount expressed in US Dollars equal to the relevant
LME (London Metal Exchange) average price of metal three (3) months prior to such Devaluation Reserve Reference Month, as calculated in accordance with the terms of the contract entered into between the relevant Seller and Airbus. 

  
 69 

 “Metal Invoicing Price” means, in respect of any Devaluation Reserve Reference Month, the price
per ton of metal expressed in US Dollars actually invoiced, to Airbus by the relevant Seller during such Devaluation Reserve Reference Month. 

“Metal Price Devaluation” has the meaning ascribed to such term in Clause 14.8.1. 

“Minimum Dilution” means, at any time after the sending of a Termination Notice or the occurrence of a Stop Purchase Event, but before the
Transaction Settlement Date, with respect to any Seller the lower of (i) the aggregate Outstanding Amount at that time of Financeable Receivable transferred by such Seller to the Factor, (ii) the amount of the Dilution Reserve of such
Seller on the termination date of the Agreement or on the date of occurrence of a Stop Purchase Event, and (iii); 
  

					
	 (t)
	  	With respect to Constellium Neuf Brisach, 	  	EUR 4,500,000
	 (u)
	  	With respect to Constellium Issoire,	  	EUR 1,500,000; and
	 (v)
	  	With respect to Constellium Extrusions France,	  	EUR 500,000

 “Non-Cooperative Jurisdiction” means a “non-cooperative state or territory’’ (Etat ou
territoire non coopératif), as set out in the list referred to in Article 238-0 A of the French Tax Code (Code Général des Impôts), as such list may be amended from time to time. 

“Non-Financeable Amounts” means, at any time, the sum of (i) the Outstanding Amount of the Non-Financeable Receivables as at such time
and (ii) the difference between the Face Value of the Financeable Receivables as at such time and the Financeable Amounts. 
 “Non-Financeable
Receivable” means any Transferred Receivable which is not a Financeable Receivable. 
 “Non-Utilization Fee” means on any
anniversary date of the Signing Date comprised during the Commitment Period a fee equal to zero point forty per cent (0.40%) of the difference between (i) the Maximum Total Financing Amount and (ii) the average Financed Amounts during the
previous year. 
 “Obligors” means the Parent Company, the Sellers and the Sellers’ Agent, from time to time. 

“Offset and Adjustment Account” or “OAA” means in relation to any Seller a Sub-Account of its Current Account the
characteristics of which are set out in Clause 14.4 (Offset and Adjustment Account - OAA). 
 “Outstanding Amount” means on any date
with respect to any Receivable, the outstanding amount owed by the relevant Debtor under such Receivable being equal to the difference (if any) between the Face Value of such Receivable, any Reduction or Cancellation Items affecting such Receivable
and any payment made by the relevant Debtor or any other party (including any agreements or credit insurances) to discharge such Receivable, provided that the Outstanding Amount shall be equal to zero in respect of any Receivable which has been
written off. 
 “Parent Change of Control” has the meaning ascribed to such term in Clause 18.2(a). 

“Parent Performance Guarantee” means the performance guarantee agreement (acte de cautionnement solidaire) entered into on
4 January 2011 between the Parent Company and the Factor. 

  
 70 

 “Pseudo Tolling” means any repurchase by the relevant Seller of inventory from any Debtor 

“Public Entity” means any State (État), any local authorities (collectivités locales) or similar foreign law
entities or any public-law entity whether in France or abroad. 
 “Quarter Date” means 31 March, 30 June, 30 September and
31 December of each calendar year respectively. 
 “Receivable” means any receivable payable by a Debtor to a Seller as a result of
sales of goods or performance of services by such Seller in the ordinary course of such Seller’s business and any VAT amount invoiced by such Seller in relation to such receivable, together with: 

 

	(lxi)	to the extent applicable and permitted under applicable law, all Records related to such Receivable ; 

  

	(lxii)	any Related Security; 

  

	(lxiii)	the right to demand payment of principal, interest (except late payment interest) and any other sum howsoever due in respect of such Receivable and all proceeds at any time howsoever arising out of the resale,
redemption or other disposal of (net of collection costs) such Receivable; and 

  

	(lxiv)	to the extent applicable and permitted under French law, such Seller’s rights to refunds from the relevant tax authorities on account of, if applicable, value added tax in respect of any goods sold or services
rendered to a Debtor. 

 “Records” means with respect to any Receivable, all Contracts, credit files and other agreements,
documents, books, records (including records relating to billing and collection matters) and other media for the storage of information (including tapes, disks, punch cards, computer software and databases) related to such Receivable, the Related
Security or the related Debtors. 
 “Reduction or Cancellation Items” means, with respect to the Transferred Receivables, all reductions or
cancellations materialized by Credit Notes or materialized in the relevant Seller’s account as miscellaneous entry (opérations diverses), granted by a Seller or by valid and enforceable offset resulting inter alia from
invoicing error, volume rebates, bonuses, premiums or monthly discounts. 
 “Related Security” means with respect to any Receivable, all of
the Sellers’ right, title and interest in, to and under any guarantee, mortgage, retention of title, pledge, lien or any other security interest purporting to secure the payment of such Receivable. 

“Relevant Country” means any country set out in the Relevant Country column of the Jurisdiction Matrix, as such list may be amended at any
time by the Factor subject to a ten (10) Business Days prior notice to the Sellers, on the basis of a change on the legal, economic or political situation of the listed countries. 

“Relevant Law” means the law of any jurisdiction set out in the Relevant Law column of the Jurisdiction Matrix as such list may be amended at
any time by the Factor on the basis of a legal analysis demonstrating that, as a result of a change in law (including a change in the interpretation of the law), the legal analysis carried out initially for the purpose of the Jurisdiction Matrix has
become inaccurate and consequently the assignment of the receivables governed by such Relevant Law cannot be effected and perfected in the manner contemplated hereunder. 

  
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 “Requested Amount” has the meaning ascribed to such term in Clause 9.1.1. 

“Requested Financed Receivables” has the meaning ascribed to such term in Clause 9.1.1. 

“Reserves” means the sums standing to the credit of the relevant Reserve Account. 

“Reserve Accounts” means the Deferred Availability Account, the Set-Off Reserve, and the Devaluation Reserve. 

“Retransfer Mode” means the Transfer-Back procedure set out in SCHEDULE 18. 

“Rexam UK” means Rexam Beverage Can Europe Ltd, a company incorporated under the laws of England as a limited liability company, whose
registered office is located at 100 Capability Green, Luton, LU1 3LG Bedfordshire, United Kingdom, registered with the Companies House under number 02554348. 

“Rexam Egypt” means Rexam Beverage Can Egypt S.A.E a joint stock company incorporated under the laws of Egypt, whose registered office is
located at 3rd Industrial Zone, 6th October City, Cairo, Egypt, registered in the Commercial Register under number 101693 
 “Rexam Egypt
Receivable” means any Receivable owed over Rexam Egypt. 
 “Rexam Egypt Eligibility Criteria” means with respect to any Rexam
Egypt Receivable the following criteria: 
  

	(lxv)	the Factor has received a Letter of Waiver and Consent with respect of such Rexam Egypt Receivable; and 

  

	(lxvi)	the sum of the Face Value of such Receivable and of the Outstanding Amount of all Transferred Receivables owed by Rexam Egypt and transferred during the same Rexam First Demand Guarantee Period does not exceed the
amount of the Rexam First Demand Guarantee issued during such Rexam First Demand Guarantee Period; and 

  

	(lxvii)	the Factor has received a legal opinion from an external counsel of Rexam UK issued in a form satisfactory to the Factor as to the capacity of Rexam UK to issue the Rexam First Demand Guarantee guaranteeing the payment
of such Rexam Egypt Receivable; and 

  

	(lxviii)	on the relevant Assignment Date, the purchase of such Rexam Egypt Receivable does not cause the aggregate amount of the outstanding Rexam Egypt Receivables which are Financed Receivables to exceed ten millions euros
(EUR 10.000.000). 

 “Rexam First Demand Guarantee” means any first demand guarantee (garantie autonome) governed by
French law to be issued from time to time by Rexam UK for a duration of nine (9) months, substantially in the form set out in SCHEDULE 21 (Form of Rexam First Demand Guarantee). 

“Rexam First Demand Guarantee Period” means with respect to any Rexam First Demand Guarantee, the period during which such Rexam First Demand
Guarantee is valid. 

  
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 “Sanctions” means any sanctions, embargoes, freezing provisions, prohibitions or other
restrictions relating to trading, doing business, investment, exporting, financing or making assets available (or other activities similar to or connected with any of the foregoing): 

 

	(a)	enacted, administered, enforced or imposed by law or regulation of the United Kingdom, the Council or the Commission of the European Union, the United Nations or its Security Council, the United States of America,
France or the respective governmental institutions and agencies of any of the foregoing, including, without limitation, the Office of Foreign Assets Control of the US Department of Treasury, the United States Department of State, Her Majesty’s
Treasury and the French Treasury; or 

  

	(b)	imposed by the United States Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010; or 

  

	(c)	otherwise imposed by any law or regulation applicable to the Factor (to the extent disclosed in writing by the Factor to the Seller’s Agent). 

“Seller Change of Control” has the meaning ascribed to such term in 18.2(b). 

“Seller Codes” means the seller codes (codes vendeur) to be used by each Seller to record the invoices relating to the relevant
Transferred Receivables appearing in SCHEDULE 14(Current Accounts), or any other code communicated by the Factor to the relevant Seller. 

“Seller Receivables Performance Triggers” has the meaning ascribed to such term in 13.9.2(a). 

“Servicer Termination Event” means any event referred to in Clause 13.9.2. 

“Servicing Mandate” has the meaning ascribed to such term in Clause 13.1 (Servicing Mandate). 

“Set-Off Reserve” has the meaning given to that term in Clause 14.7 (Set-Off Reserve). 

“SFC Rate” means the sum of (i) the arithmetic average of the daily EURIBOR rates of the preceding two months (or zero if such average
is negative) and (ii) the Margin. 
 “Signing Date” means the date hereof. 

“Special Financing Commission” or “SFC” has the meaning ascribed to such term in Clause 15.2 (Special Financing
Commission (SFC)). 
 “Stop Purchase Event” has the meaning given to that term in Clause 18.1 (Term)

 “Sub-Account(s)” means any sub-account(s) opened by the Factor under each of the Current Accounts. 

“Subsidiary” means, in relation to any company, another company which is controlled by it within the meaning of article L. 233-3 of the
French Code de commerce. 
 “Substitute Sellers’ Agent” has the meaning ascribed to such term in Clause 23.6. 

“Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in
connection with any failure to pay or any delay in paying any of the same). 

  
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 “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under
any Factoring Facility Document. 
 “Termination Notice” has the meaning ascribed to such term in Clause 18.3.1(b). 

“Test Date” means, in respect of any Test Period, the tenth (10th) Business Day
following the end of such Test Period. 
 “Test Period” means any calendar month. 

“Three Month Dilution Percentage” means, at any time, with respect to any Seller, the ratio of (i) the aggregate amount of all Dilutions
regarding such Seller for the three preceding months, by (ii) the aggregate amount of all Transferred Receivables Assigned by such Seller for the three preceding months. 

“Tolling” means any provision of services by the relevant Seller to any Debtor out of inventory owned by such Debtor. 

“Trade Instruments” means any performance bonds or advance payment bonds issued in respect of the obligations of any member of the Group
arising in the ordinary course of trading of that member of the Group. 
 “Transaction Settlement Date” means the date of definitive
settlement of all transactions in respect of the Factoring Facility, occurring on the later of (i) the Indemnification Maximum Payment Date of the Transferred Receivable having the latest due date or (ii) the date on which all amounts or
liabilities due (or owed) by all Obligors towards the Factor and by the Factor to all Obligors, pursuant to the Factoring Facility Documents have been fully paid (or irrevocably extinguished). 

“Transfer Document” means any deed of transfer (acte de cession de créances professionnelles) of Eligible Receivables to be
Assigned by each Seller to the Factor pursuant to the provisions of Article L. 313-23 et seq of the French Monetary and Financial Code, in the form described in SCHEDULE 18, Part 1. 

“Transfer Mode” means the procedure and mechanics of transfer (including the relevant Transfer Document) set out in SCHEDULE 18, Part 1. 

“Transfer-Back” means any retransfer or, as the case may be, rescission of any Transferred Receivable by the Factor to the relevant Seller in
accordance with the procedure set forth in Clause 11.3 (Procedure for the Transfer-Back of Transferred Receivables - Retransfer Modes) and the relevant Retransfer Mode and to “Transfer-Back” means the action of making a
Transfer-Back. 
 “Transfer-Back Price” has the meaning ascribed to such term in Clause 11.3.1. 

“Transferred Receivables Ledgers” means a report substantially in the form of SCHEDULE 10 (Transferred Receivables Ledgers). 

“Transferred Receivable” means any Eligible Receivable transferred to the Factor pursuant to this Agreement and which has not been
Transferred-Back. 
 “VAT” means 

  
 74 

	(lxix)	any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and 

 

	(lxx)	any other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such tax referred to in Paragraph (i) above, or imposed elsewhere.

 “Web Services” has the meaning ascribed to such term in Clause 19 (Access to Web Services). 

  
 75 

 SCHEDULE 4. 

THE SELLERS 
  

							
	 Name
	  	 Registered Office
	  	Registration
Number	  	Jurisdiction
	 Constellium Issoire
	  	rue Yves Lamourdedieu ZI les Listes 63500 Issoire, France	  	672 014 081 RCS
Clermont-Ferrand	  	France
	 Constellium Neuf Brisach
	  	ZIP Rhénane Nord, RD 52, 68600 Biesheim	  	807 641 360 RCS Colmar	  	France
	 Constellium Extrusions France
	  	1 Passage Eiffel, CS 40046, 21702 Nuits-Saint-Georges	  	662 032 374 RCS Dijon	  	France

  
 76 

 SCHEDULE 5. 

CONDITIONS PRECEDENT 

Part 1 
 Conditions
Precedent to the Signing Date 
  

	1.	The following documents must be delivered by each Obligor on the Signing Date : 

  

	 	(w)	An original copy or a certified copy of the up-to-date constitutional documents (statuts); 

  

	 	(x)	An original copy or a certified copy of the certificate of incorporation (Extrait K-bis or, in respect of the Parent Company oprichtingsakte) ; 

 

	 	(y)	To the extent required by any applicable law or by its constitutional documents, original copies or certified copies of the resolutions of the competent corporate bodies, approving the terms of, the transactions
contemplated by, and the execution, delivery and performance of the Factoring Facility Documents, including, with respect to the Parent Company, confirmation that the Parent Performance Guarantee complies with the corporate benefit principle
applicable to it; 

  

	 	(z)	An original copy or a certified copy of the power(s) of attorney of the person(s) signing the Factoring Facility Documents as well as the powers of attorney for all persons signing all documents, instruments or
agreements required under the relevant Transfer Mode (and Transfer Document) or Retransfer Mode on an ongoing basis during the life of the transaction or any notice or certificate under the Factoring Facility Documents; 

 

	2.	Legal Opinions to be provided on the Signing Date : 

  

	 	(aa)	Legal opinion by Clifford Chance Europe LLP in respect of the legal existence, the absence of insolvency proceedings, capacity and authority of the Sellers in connection with the execution and performance of the
Factoring Facility Documents to which they are a party; 

  

	 	(bb)	Legal opinion by Stibbe B.V. in respect of the legal existence, the absence of insolvency proceedings, capacity and authority of the Parent Company in connection with the execution and performance of the Factoring
Facility Documents to which they are a party; and 

  

	 	(cc)	Legal opinion by Dentons Europe in respect of the validity of this Agreement. 

  
 77 

 Part 2 

Conditions Precedent to the First Assignment Date 
  

	 	(dd)	Evidence that all costs and expenses (including the Factor’s legal costs, to the extent invoiced in due time) then due and payable by each of the Sellers and the Parent Company under the Transaction Documents have
been paid. 

  

	 	(ee)	The Credit Insurance Policy as amended in a manner satisfactory to the Factor is in full force and effect. 

  
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 SCHEDULE 6. 

REPRESENTATION, WARRANTIES AND UNDERTAKINGS 

 

	1.	Representations and warranties 

 Each Seller and, as the case may be, the Sellers’
Agent and the Parent Company represents and warrants for itself to the Factor that: 
  

	 	1.1.	Representations and warranties relating to the Sellers 

  

	 	(a)	Status: it is a company validly incorporated and existing under the laws of its place of incorporation, it is in compliance with all of the applicable laws and regulations relating to its incorporation;

  

	 	(b)	Powers, authorisations and consents: it has full power and authority to enter into the Factoring Facility Documents to which it is a party, and no governmental or regulatory consent is required in order to enter
into the Factoring Facility Documents to which it is a party, and it has taken all action necessary to authorise the execution, delivery and performance by it of the Factoring Facility Documents to which it is a party; 

 

	 	(c)	Non-violation: the execution, delivery and performance of the Factoring Facility Documents to which it is a party do not contravene or violate (i) its memorandum and articles of association, (ii) any
law, rule, regulation or orders applicable to it, (iii) any restrictions under any agreement, contract, deed or instrument to which it is a party or by which it or any of its property is bound, or (iv) any order, writ, judgement, award,
injunction or decree binding on or affecting it or its property, and do not result in the creation or imposition of any adverse claim on or with respect to any of its assets or undertakings to the extent that such contravention, violation or result
would have a Material Adverse Effect ; 

  

	 	(d)	Legal validity: Subject to the Legal Reservations, its obligations under the Factoring Facility Documents currently in force to which it is a party constitute legal, valid and binding obligations enforceable
against it in accordance with their respective terms; 

  

	 	(e)	Accounts: each of the Sellers’ most recent audited annual accounts, and the Group’s most recent non audited consolidated quarterly accounts and audited consolidated annual accounts, copies of which have
been furnished to the Factor pursuant to the Agreement, respectively (i) present a true and fair view of each of the Sellers’ and the Group’s financial condition (for the audited accounts) or (ii) have been prepared in good faith
by the Group pursuant to the Group’s accounting policy and practice (for the unaudited accounts), as applicable, as at that date and of the results of their operations for the period then ended, all in accordance with applicable accounting
standards consistently applied; 

  

	 	(f)	No litigation: there are to its knowledge no current material actions, suits or proceedings pending against or affecting it, in or before any judicial or administrative court, arbitrator or regulatory authority,
which, based on information provided by it as well as any public information relating to such actions, suits or proceedings, which has a Material Adverse Effect; 

  
 79 

	 	(g)	No default: it is not in default with respect to any order of any court, arbitrator or governmental body, or under any contractual or other obligation, which is material to its business or operations and which
has a Material Adverse Effect; 

  

	 	(h)	Accuracy of information: to its best knowledge, all information furnished in writing by it to the Factor (excluding the accounts mentioned in section 1.1(e) of SCHEDULE 6 and including the information provided in
connection with each Assignment) for the purposes of or in connection with the Factoring Facility Documents, is true and accurate in every material respect on the date such information is stated or certified and does not contain any material
misstatement of fact; 

  

	 	(i)	Principal place of business: in relation to the Sellers only, its principal place of business and main executive office and the offices where it keeps all its books, records and documents evidencing the
Transferred Receivables and the related contracts are located at the addresses stated in SCHEDULE 13; 

  

	 	(j)	Capacity to identify and individualise: in relation to the Sellers only, it has operating systems capable of identifying and individualising in a clear and precise manner each Transferred Receivable and all
collections received in respect thereof; 

  

	 	(k)	Records: in relation to the Sellers only, all IT and accounting records are accurate in all material respects and all back-up systems are accessible to the Factor and are regularly updated in light of the
Group’s current business practices; 

  

	 	(l)	No VAT: in relation to the Sellers only, no VAT or equivalent tax is applicable in respect of any sale of Transferred Receivables by it to the Factor. 

 

	 	1.2.	Representations and warranties relating to the Receivables 

  

	 	(m)	No fraud, etc: such Receivables has not been offered for Assignment to the Factor as a result of fraud, gross negligence or wilful misconduct (dol) from the relevant Seller and (ii) the relevant
Seller has not knowingly offered Receivables for Assignment that are not Eligible Receivable, at the time of the relevant offer and assignment date, or are Excluded Receivables and to the extent only that such offer affect a material portion of the
outstanding amount of Transferred Receivables in respect of such Seller (for the avoidance of doubt, it is specified that the Factor shall not be responsible for verifying such compliance); 

 

	 	(n)	No Violation: upon any Assignment of Receivables, such Transferred Receivables will not be available any longer to the creditors of the relevant Seller in the context of an Insolvency Proceeding or any other
procedure under Livre VI of the French Commercial Code, as amended from time to time; and 

  

	 	(o)	Transfer of title: subject to the Legal Reservations, upon the assignment of any Transferred Receivables, the Factor will have all the rights, interests and title of the relevant Seller in respect thereof as well
as, under French law, the related and accessory security then existing in respect thereof. 

  
 80 

	 	1.3.	Repetition 

 The representations and warranties in sections 1.1 and 1.2 of this SCHEDULE 6 are
made by the Sellers, the Sellers’ Agent and the Parent Company as of the Signing Date, and they shall be repeated in the frequency set out below, in each case, by reference to the facts and circumstances existing on that date, as long as any
amount or any obligation is outstanding towards the Factor under the Agreement: 
  

	 	(p)	the representations and warranties set out in sections 1.1(i) and 1.1(l) shall not be repeated after the Signing Date; 

  

	 	(q)	the representation and warranty set out in sections 1.1(e) shall be repeated on each date of remittance to the Factor of the relevant annual or quarterly or accounts; 

 

	 	(r)	the representations and warranties set out in sections 1.1(f), 1.1(g), 1.1(h), 1.1(k) shall be repeated on the first Business Day of each calendar month; and 

 

	 	(s)	the representations and warranties set out in sections 1.1(a), 1.1(b), 1.1(c), 1.1(d), 1.1(j), and 1.2(m) to 1.2(o) shall be repeated on each date of Assignment of Eligible Receivables. 	 

  
 81 

	2.	Undertakings 

 Each of the Sellers, and to the extent applicable the Sellers’ Agent
and the Parent Company (each only for itself) undertakes to the Factor as follows. These undertakings are to be complied by each of the Sellers, the Sellers’ Agent and the Parent Company as long as any amount or any obligation is outstanding
towards the Factor under the Agreement. 
  

	 	(t)	Delivery of documents, obligation of information and access: (i) it shall supply to the Factor (or to any person appointed by the Factor) such documents and information with respect to itself, to the Credit
Insurance Policy, to the Transferred Receivables and to the Related Security as the Factor may reasonably request, notably, in order to verify each of the Sellers’ compliance with its obligations under the Agreement or the Credit Insurance
Policy; and (ii) it shall, as soon as possible upon becoming aware of such facts or events, notify the Factor of any facts or events concerning: 

  

	 	(i)	the Transferred Receivables or the Credit Insurance Policy which has a Material Adverse Effect; 

  

	 	(ii)	any increase in the amount of the Airbus Advance; and 

  

	 	(iii)	upon being informed of any transfer of or pledge over the Airbus Advance, details of such transfer or pledge. 

  

	 	(u)	Collection: as far as each Seller is concerned, it shall maintain and implement the Credit and Collection Procedures, and procure that they are maintained and implemented (including, without limitation, an
ability to recreate records in the event of their destruction), and it shall keep and maintain, all documents, computer discs, books, records and other information necessary for the collection of all Transferred Receivable, and procure that they be
kept and maintained (including, without limitation, records adequate to permit the daily identification of all collections); 

  

	 	(v)	Payment of taxes (Transferred Receivables): it shall pay punctually all amounts of VAT, if any, and other taxes in connection with any Transferred Receivables or any related contract and shall comply with all
obligations with respect thereto; 

  

	 	(w)	No assignment: it shall not (otherwise than in accordance with the Agreement) (a) sell, assign, pledge, lien, charge or otherwise dispose of, or create or suffer to exist any adverse claim or security
interest upon or in respect to any Transferred Receivable or any contracts relating thereto, nor (b) assign any right to receive payment in respect thereof and it shall defend the title and interest of the Factor in, to and under any of the
foregoing property relating to any Transferred Receivable, against all claims of third parties as if it were the owner of such Transferred Receivable; 

  

	 	(x)	 No change in business: it shall not make any change in its business which might materially and adversely impair the operation of the Agreement
or which might materially and adversely decrease the credit quality of the Transferred 

  
 82 

	 	
Receivables (taken as a whole) or otherwise materially and adversely affect the rights or remedies of the Factor (provided that, if such event occurs, the Factor shall first notify in writing the
Seller and propose the exclusion of new Debtors relating to such new business in order to limit the effect of such change in business and remedy such breach); 

  

	 	(y)	Preservation of corporate existence: it shall preserve and maintain its corporate existence and shall maintain all licences, authorizations and certifications necessary to the performance of its business, where
failure to maintain or preserve would have a Material Adverse Effect; 

  

	 	(z)	Safe-keeping of documents: it shall hold in a reasonably secure and safe from damage location all documents relating to Transferred Receivables; 

 

	 	(aa)	No amendment to the contracts: it shall not modify the terms and conditions of any contract relating to any Transferred Receivable, which adversely affect the eligibility or the collectability thereof, unless it
has received the prior written approval of the Factor (not to be unreasonably withheld); 

  

	 	(bb)	No change in place of storage: it will not change any office or location mentioned in SCHEDULE 13 (Location Of Records) where books, records and documents evidencing the Transferred Receivables are kept
without prior notifying the Factor at the latest thirty (30) calendar days before making such change of the new location of such books, record and documents; 

 

	 	(cc)	Notification: it will notify the Factor within ninety (90) calendar days prior to changing its name, identity or corporate structure or relocating its registered office; 

 

	 	(dd)	No merger: it shall not, if it would have a Material Adverse Effect, operate a legal reorganization, merge or consolidate with or into, or contribute, transfer or otherwise dispose of (whether in one transaction
or in a series of transactions, and except as otherwise contemplated herein) all or substantially all of its assets (whether now owned or hereafter acquired) to, or acquire all or substantially all of the assets of, any person, it being understood
that should a voluntary reorganization or restructuration of companies of the Group (including by a way of amalgamation, merger, demerger, spin-off or voluntary liquidation) involving one or more Sellers is intended to take place, the relevant
Sellers shall notify the Factor of any such event as soon as possible after all internal corporate approvals have been obtained and being legally entitled to do so; 

 

	 	(ee)	Provision of financial information:  

  

	 	(i)	Upon request of the Factor, to the extent such information are publicly available and otherwise without prior request of the Factor, each of the Sellers and the Parent Company, as applicable, will deliver to the Factor:

  

	 	(1)	annually, as soon as reasonably practicable and no later than one hundred and eighty (180) days from its year-end) the audited statutory annual financial statements (balance sheet and related income statement) of
each Seller together with the relevant auditors’ reports; 

  
 83 

	 	(2)	annually, as soon as reasonably practicable and no later than one hundred and eighty (180) days from its year end, copies of the audited consolidated annual financial statements (balance sheet, related income
statement and cash flow statement) of the Accounting Group together with the relevant auditors’ reports; 

  

	 	(3)	quarterly, and no later than sixty (60) days after each Quarter Date, copies of the Accounting Group’s consolidated quarterly management accounts; 

 

	 	(4)	monthly, (except for the month of January of each year), and no more than thirty (30) days after its month end (and forty-five (45) days for the first six (6) monthly statements to be remitted as from the
Signing Date), the unaudited and unreviewed monthly financial statements (balance sheet and related income statement) for each Seller; 

  

	 	(5)	monthly, and no more than thirty (30) days after its month end, aged supplier balances for each Seller; 

  

	 	(6)	monthly, and no more than thirty (30) days after its month end, detailed statement of year-end rebates, commercial discounts, Tolling, Pseudo Tolling and scrap report for each Seller; 

 

	 	(7)	(A) the Transferred Receivables Ledgers in the manner set out in Clause 13.4 (Diligence and general obligations of each Seller as agent of the Factor), (B) the servicing reports referred to in
Clause 13.5 (Report on the performance of the Servicing Mandate) and in the manner set out in Clause 13.5 (Report on the performance of the Servicing Mandate) and (C) the monthly rebate and other reports referred to in Clause 2(hh)
below in the manner set forth in Clause 2(hh) below; 

  

	 	(ii)	promptly, upon request of the Factor, such documentation and other evidence as reasonably requested by the Factor in order to carry out and be satisfied that it has complied with all necessary “Know Your
Customer” requirements as per GE policy or other similar checks under any applicable laws or regulations; 

  

	 	(ff)	Authorisations: it will promptly obtain, maintain and comply with the terms of, any authorisation required under any law or regulation (i) to enable it to perform its obligations under, or (ii) for the
validity or enforceability of, the relevant Factoring Facility Documents; 

  

	 	(gg)	Financial records: it will record the Assignment of a Transferred Receivable pursuant to the Agreement in its financial records; 

 

	 	(hh)	Rebates: it shall supply to the Factor, (i) prior to the First Assignment Date (if applicable) and (ii) thereafter on a monthly basis, no more than thirty (30) days after the relevant month end,
reports listing the accrued rebates or rebate payments remaining due to the Debtors; 

  
 84 

	 	(ii)	Information on Insolvency Proceedings: subject to applicable law, and as soon as becoming aware of such event, it undertakes to inform the Factor of the commencement or taking of any step relating to it that
would constitute or already constitutes an Insolvency Proceeding (or any other procedure under Livre VI of the French Commercial Code, as amended from time to time, or any equivalent proceeding under any applicable law); and 

 

	 	(jj)	Use of proceeds: each of the Sellers and the Parent Company undertakes to use the proceeds arising from the Factoring Facility in a manner compliant with applicable laws by using such proceeds in particular, for
the avoidance of doubt, for the refinancing of working capital facilities; 

  
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 SCHEDULE 7. 

VALUE DATES 

PART 1 
 PAYMENTS FROM
THE CURRENT ACCOUNT 
  

			
	Payment type	  	Value date
	Check to the relevant Seller	  	Issue date
	Wire transfer to the relevant Seller	  	Issue date

  
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 PART 2 

PAYMENTS TO THE ASSET ACCOUNT 
  

			
	 Payment type
	  	 Value date

	Check payable by a bank located in Paris	  	Date on which the payment is recorded by the Factor plus one (1) Business Day
		
	Check payable by a bank in France out of Paris	  	Date on which the payment is recorded by the Factor plus one (1) Business Day
		
	Fixed maturity negotiable instrument (effet de commerce payable à échéance)	  	Instrument’s maturity date
		
	Bearer negotiable instrument (effet de commerce payable à vue)	  	Paying date of the instrument plus one (1) Business Day
		
	Bank or postal wire transfer	  	Transferee’s bank value date
		
	Foreign wire transfer	  	Date on which the payment is recorded by the Factor

  
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 SCHEDULE 8. 

CREDIT AND COLLECTION PROCEDURES 

  
 88 

			
	 Global Credit Risk Management

 

	 Concerned accounts :
  

Sales, Availabilities, Customers, Other invoices, Customers accounting provisions
	  	  
 GLOBAL CM contact : Michel BERARDI

 IT applications : 
 SAP
FI (V4.6c): accounting transactions 
 SAP SD (V4.6c) : sales monitoring module & SAP specific “credit risk projection”
transaction 
 Ellipro/Creditsafe/Atradius : Customers statements database 

Start and end process : 
 General credit policy definition

 Doubtful accounts transfer decision 
 Objective and
description: 
 Customer risk is managed by the site Credit Management referring to site and corporate Finance Controlling and corporate Credit
Management 
 The sub-process is outlined below: 
 1/ Definition
and implementation of a general credit policy 
 2/ Credit lines granted to customers fixing 

3/ Securing customer risk 
 4/ Monitoring of critical
delinquencies for risk and compliance with credit lines 
 5/ Management of financial disputes and litigation 

 

	25.4	Interlocutors: 

  

	25.5	BU CFOs 

 Global Credit management: Michel BERARDI 

25.6 
 25.7 

25.8 
  

	25.9	Input: 

  

	25.10	Customer information and trade issues in particular as a result of customer visits, financial press, Investigations requested information from specialized agencies, 

Guarantees by the credit insurer 

  
 89 

 Output : 

For each customer : credit lines setting 
 Provided
instruction for doubtful customers 
 1/ Definition and application of a general credit policy 

Corporate Credit Management and Finance participates in the definition of the general policy of the Business Unit Credit. This policy is consistent with
business practices: 
  

	•	 	Definition of allowed payment period (between 30 and 90 days with exceptions), 

  

	•	 	Fixing of default interest rate, 

  

	•	 	Fixing the discount rate in case of early settlement, 

  

	•	 	Identification of preferential payment methods 

  

	•	 	Fixing guarantees 

  

	•	 	Ceiling powers in arbitration 

 The first three rules are part of the terms and conditions listed on the back of
invoices. 
 Trade must ensure their proper implementation. 

To be noticed :: 
  

	 	•	 	Currently the default interests are not routinely charged: Credit Management takes the financial and commercial situation of the customer. It was after discussion with Credit Management as Sales decide to issue an
invoice. This one following the usual process of other bills. 

  

	 	•	 	In case of early settlement, a discount rate could be proposed. 

 2/ Credit lines granted to
customers fixing : 
 Fixing a credit line follows the request to open an account or a credit line by a commercial. This request is sent to Credit
Management by email. 

  
 90 

 Credit lines are defined by company and industry. They take business objectives and are set after analyzing the
customer’s creditworthiness performed either by the credit insurer or by Credit Management (particularly if the insured amount is less than the amount of the requested credit line or credit insurer refused warranty). 

If requested, the commercial service to the end customer must request the last financial items that are not yet in the database in order to update the risk.

 A line of credit is however not blocking to record a new command, load sales department careful not to exceed the amount of the authorized line (when
exceeding a request to increase must be made at the Credit Management) 
 Principle of securing credit lines : 

Credit Management assess the creditworthiness of customers and prospects preventive and systematic manner. This assessment is based at amounts on one or more
of the following background information: 
  

	•	 	The guarantee granted by credit insurance, 

  

	•	 	Analysis of the most recent financial statements, 

  

	•	 	Business information from specialized agencies 

  

	•	 	The “economic” before (regular monitoring of the economic and financial press) 

  

	•	 	Possibly a visit to the customer with the Sales 

  

	•	 	Granted guarantees (bank, parent...) 

 This study helps to fix a credit line for each customer. 

Important Notes: 
  

	 	•	 	When no credit line has been granted to a customer, Credit Management requires that payments are made before shipment. Sales are liable for non-compliance with this rule, the control can be done by Credit Management
in the current management of the file (Sales administration responsibility which in this case must ensure that the customer payment to be made prior to release merchandise and charge). 

Maintenance of customer database : 
 The administration of
customer files in SAP is ensured by people dedicated in on sites. 
 If a customer create request, the employee responsible for the administration of the
customer file checks in SAP that the customer does not already exist to avoid duplicates. The control is operated in SAP on the search key, the name, the locality, country and VAT identifier or any kind of registration number. This ensures the
absence of duplicates. 
 Principles of credit lines review : 

The credit line may be reviewed by Credit Management for the following reasons: 
  

	•	 	The client’s financial situation deteriorated, 

  

	•	 	Credit Insurer changes (modify, reduce , cancel) its cover, 

  

	•	 	At the request of Sales (needs updated), 

  

	•	 	Following payment incidents, 

  

	•	 	The credit line is limited in time (time limit insurer or domestic arbitration). 

  
 91 

 These events may increase or decrease in credit lines (for prevention). 

All credit lines revisions are followed by Credit Management, which shall inform the Sales Services. 

Adequacy of financial constraints and trade : 
 In order
to reconcile trade and financial requirements on a customer, arbitration may be requested by Credit Management of each site or the Corporate Credit Management formalized by an email explaining the reasons for such request for arbitration with the
latest financial information to facilitate decision making according to the procedure of each site. This arbitration decision is taken, following Group DOA, gradually by BU Controller, BU CFO, and BU President, formalized by e-mail. 

A request for arbitration shall in no event be performed on a client with delays (overdue), Credit Management and Sales are responsible to ensure the
customer’s creditworthiness before making an application for arbitration. 
 Follow-up: 

Each arbitration is saved chronologically with the site, the customer’s name, the amount of the accepted line, date of expiry and name of the decision
maker. This monitoring is done by Corporate Credit Management and sent each quarter end to Group Treasury, BU CFOs with the overdue rate, DSO and credit risk spread per BU. 

DSO, overdue rate, main Receivables (over or equal 2.5 M€), main Overdue (over or equal 250 K€) , per sites and per BU are recorded each month end
into “Constellium Credit Report” and sent to the Senior Management (Finance & Sales). 
 3/ Securing Customer Risk 

If the customer is risky (insufficient insurance or denied), the Credit Manager of the site or Corporate Credit Manager could promote security instruments to
determine a line of credit (letter of credit, surety, guarantee parent ...). Anyway each cases are under Group Treasurer submission and authorization, following Group DOA. 

If these security elements cannot be obtained, a regulation “cash before delivery” will be required. 

Corporate Credit Management participate as key user and expert in the negotiations conducted by the Group with the Credit Insurer for Credit Insurance
contracts. 
 A premium rate is generally negotiated at each renewal of the contract with the Credit Insurer based on the evolution of its loss ratio
(premiums allowances) and amount of coverage requested. 
 Other security instruments (irrevocable and confirmed letter of credit, bank guarantees, and
corporate guarantees) are subject to specific negotiations undertaken or supervised by the site Controller, BU CFO, Group Treasury. Corporate Credit Management playing his part as facilitator; requesting if and as necessary Corporate Legal Counsels.

  
 92 

 4/ Monitoring compliance with credit lines and critical delinquencies for risk : 

The Business Services each site must meet the credit lines in place and are responsible for any overruns. Control of credit lines overtaking is performed on
each site by the Credit Manager with the IT tools available and is a “second look”. 
 For Neuf –Brisach & Issoire ,
if the registration of new orders by Sales Administration causes a credit limit is exceeded (overshoot control or financial assets), the system “userbatch” automatically sends a warning to Sales Administration responsible, Sales and
Controller site at Day + 1, informing them of exceeding the credit limit. Corporate Credit Management receives a copy of these alerts and governs accordingly. 

The measures taken may be (non-exhaustive list): 
  

	 	•	 	A request to increase credit insurance 

  

	 	•	 	in case of refusal or partial agreement, the following proposals may be made to commercial services: 

  

	 	¡	 	Request for Arbitration under the procedure of each site concerned, if the Credit Management deems feasible 

  

	 	¡	 	request advance payment 

  

	 	¡	 	reducing payment terms 

  

	 	¡	 	demand for bank guarantees (standby / letter of credit) 

  

	 	¡	 	parent company guarantees for subsidiaries 

  

	 	¡	 	restriction or blocking deliveries 

  

	 	•	 	in the case of late payments, after telephone reminder and if the reminder letters had no effect, a pre-litigation sentence will be launched by Credit Management or local Credit Responsible after consulting business
services and recovery. 

 5/ Management of financial disputes and litigation : 

In case of non-payment, Corporate Credit Management and/or Sales Administration on site 

 

	•	 	Made proceed with the recovery of the customer or send a letter of formal notice 

  
 93 

	•	 	Made proceed with an order to pay by bailiff after informing the BU Sales Management and Controlling 

  

	•	 	Implements the retention of title clause (if written in the contract) 

  

	•	 	Does the follow up of disaster declaration to the Credit Insurer (Corporate Credit Management) 

 Once it is
found that debt will not be paid by the customer (e.g. in case of bankruptcy), 
 Corporate Credit Manager or Site Credit Manager sends an email to the site
Financial Controller for scripture as “doubtful customers”, specifying the amount of the provision. Corporate Credit Manager is not able to pass the scriptures. 

The calculation is based on the claim that is the subject of a payment default. The calculation is made by the Corporate Credit Manager or Site Credit
Manager; depending on the repayment made by the credit insurer if the claim is secured. 

  
 94 

 SCHEDULE 9. 

COMPUTER RELATIONSHIP GUIDE 

  
 95 

 

 
 Cahier des Cahier des charges charges informatique informatique Confidential Agreement Line for line GE Capital
Factofrance 

 

 
Contents Interface for optimised management Dear Sir/Madam, To strengthen the efficiency of our relations, we are
offering you the ability to send us your data electronically. There are numerous benefits: easy to use, saves time, speed of sending information via the internet and the reliability of information. Our website GE Factofrance Net has an area for
sending and receiving files. This gives you instant access to any transactions that have taken place in your account and access to downloadable management documents. The information exchanged is completely secure due to a data encryption system.
Only users with a specific password can access the information available on this site. Please do not hesitate to contact your usual representative for further information. If you wish, we can also put you in contact with one of our partners that has
developed an interface for creating files: refer to the appendices “List of interface software” on page 21 and “Your contact representatives” on page 16 for any questions. Thank you for your business. Pages Functioning of the
agreement 3 Recording of transactions (examples) 4-5-6 File creation—“Invoices, credit notes Payment assignments (clearing) Adjustments” 7—“Guarantee requests” 8 Appendices Your contact representatives 16 Example file
18-19 Methods of communication 20 List of interface software 21 List of currency codes 22 List of country codes 23-24-25 IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version –
01/01/2009 

 

 
 Functioning of the agreement 
  

 

 
 Information on the functioning of the agreement The dedicated bank account: The agreement specifies the terms
of functioning of the account and the role of the bank, your company and the Factor. Any invoices transferred to the Factor must include the bank details (RIB) of the dedicated account only. A parameter card dedicated to the factor is also required:
this should be specified for the bank so that it can be viewed separately. THE MAIN ACCOUNTS for the Factor The CCA (Offsets and Adjustments Account (account which mirrors the dedicated bank account) This account reconciles ?Debits: payment
assignments ?Credits: increases in funds in the dedicated account. The CCV (Vendor Current Account) This records any transactions in relation to the purchasing of debts, financing and fictitious assets throughout the duration of the agreement The
CAF (French Purchasers Account) and/or CAE (International Purchasers Account) This records any debts and credit notes transferred by the vendor and any payments sent which have been received from purchasers and miscellaneous transactions. The FDG
(Guarantee Fund) This records withdrawals in accordance with the particular terms of the agreement. The PTF (Portfolio) This records the instruments sent which are not yet due and is balanced on the due date. IT customer relations RIV©
Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Recording of transactions 

 

 
Recording of transactions (continued) 

 

 

 
File containing invoices, credit notes, payments and adjustments CONDITIONS PRECEDENT A) Ensure that the file is
feasible and that the mandatory data requested has been extracted. If any mandatory data cannot be extracted, obtain the approval of your contact representative (1) before preparing your interface. If you wish, we can put you in contact with
one of our partners to set this up. You may also refer to the existing list of interface software (2) B) Identify your customers “the purchasers”. French customers: Identifying your customers is an essential prerequisite. The most
reliable method of identifying your customers is via the SIRET database – 14 digits. (Siren (9 digits) + Nic (5 digits), which corresponds to the address of the billed customer. This is essential for important management aspects. A
customer’s siret number may be validated internally or through contact with one of our partners which has agreed to do this (1). This service depends on the currency and is billed directly by our partner. International customers: the identifier
may be the export insurance company’s number, the E.C. VAT number or the internal customer number. If the identifier is not the export insurance company n°, before initially sending the invoices and depending on the number of invoices to be
sent, you should decide the format in which you would like to send your details (full address with your internal customer code) (1). C) Choose the official transmission method (appendix 6 page 22) D) Prepare a TEST file which contains all the
records using real data. As soon as the test file is deemed satisfactory by your contact representative, you will receive confirmation that you can send operational files (1). (1) Refer to appendix 1 “Your contact representatives”
page 16 (2) Refer to appendix 6 “List of interface software” page 21. STRUCTURE AND CHARACTERISTICS Record length: 360 characters with “CR-LF” at the end (encoded “0D0A”). Numeric fields are right justified and
space filled with zeros. Invoice and credit note totals are expressed in cents and currencies with no decimal places should not be space filled with zeros. Alphanumeric fields are left justified and space filled. Characters are in upper case, with
no punctuation signs, brackets, quotation marks, apostrophes or accented characters. Dates are written in the format YYYYMMDD. (year, month, day) 100—File header (Sender) page 7 101—For Invoices (customer information and data) page 8
102—For Credit notes (customer information and data) page 9 103—For ‘Payment assignments’ page 10 104—For ‘adjustments’ page 11 199—End of file page 13 “France” Agreement. One file for each currency
and for each debtor type for each agreement: -“French” debtors“euro” currency = 1 file -“French overseas departments and territories” debtors “euro” currency = 1 file. -“International” debtors
“euro” and “dollars” currency = 2 files. “Export” agreement The same as for international debtors. All invoice files should be subject to a subrogation receipt. Example receipts page 17 Example file containing
invoice-credit note-payment-adjustment data page 18 IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
Guarantee request file CONDITIONS PRECEDENT When the agreement begins, if the insurance company is the factor,
guarantee requests may be made on-line via our website. If there is a high number of requests, an exceptional file is accepted for French customers when the agreement begins. A) Identify your customers “the purchasers”. Identifying your
customers is an essential prerequisite. The most reliable method of identifying your customers is via the SIREN database. This number allows you to make a guarantee request, which will be sent to the customer’s registered office to cover all
your outstanding debts, for all companies (same SIREN) therefore only one request for each SIREN. For “public” customers (town halls, local authorities), a guarantee request is not necessary as debts are guaranteed by the State. B)
Determine the amount of a request. The amount of your request should be expressed in KE and should correspond to the maximum credit limit for commercial relations with your customer. (Registered office + secondary offices = same siren). E.g.
Achieved or estimated turnover for 12 months = 200 K Euros. Turnover: 60 days = Maximum credit limit = 200 x 60/365 = 33 K Euros. (Obtain the Factor’s prior agreement for guarantee requests for international customers) C) Choose the official
transmission method (appendix 5 page 20) D) Prepare a TEST file which includes real requests (1). As soon as the test file is deemed satisfactory by your contact representative, you will receive confirmation that you can send operational files (1).
(1) Refer to appendix 1 “Your contact representatives” page 16 STRUCTURE AND CHARACTERISTICS Record length: 360 characters with “CR-LF” at the end (encoded “0D0A”). Numeric fields are right justified and space
filled with zeros. Invoice and credit note totals are expressed in cents and currencies with no decimal places should not be space filled with zeros. Alphanumeric fields are left justified and space filled. Characters are in upper case, with no
punctuation signs, brackets, quotation marks, apostrophes or accented characters. Dates are written in the format YYYYMMDD. ) 100—File header page 9 107—For ‘Guarantee requests’ page 12 199—End of file page 15 One file for
each agreement Example file page 19 IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value =100 Vendor code
(Transferor) 6 4 N M agreement code allocated . by the Factor Transferor’s name (vendor) 40 10 A M File creation date 8 50 N M YYYYMMDD (e.g. 20090125) Contact name 40 58 A O Transferor’s telephone no. 10 98 A O Contact fax no. 10 108 A O
Debtor’s identifier type (3) 1 118 N M Customer’s country codification (4) 1 119 N M Vendor’s VAT number (transferor) 16 120 A M Transfer number (receipt) (5) 3 136 N M Free text field 213 139 A M Spaces Currency of the
amounts (6) 3 352 A M RIV type version 6 355 N M Content = “000000” For record “100” File header Notes (1) Type: N = numeric A = alphanumeric (2) Content: M = mandatory O = optional (3) notes”: For the
file “Invoices- credit Value of the retained identifiers: 1 = SIRET (siren+nic) 2 = Export insurer’s number 3 = Debtor code 4 = VAT number Important: Choice “1”; (mandatory identifier for French purchasers) Choice “2”;
(mandatory identifier for International purchasers) Choice “3”; allocated by the transferor: Get approval beforehand. (4) 1=PTT Standards 2=ISO Standards (choice appendix 8 pages 23 to 25) (5) For the file
“Invoices—credit notes—the transfer number” (or subrogation receipt n°) is mandatory. It should be unique and incremented by 1 for each file. (6)see appendix 7 page 22. IT customer relations RIV© Copyright –GE
Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value =101 File creation
date 8 4 N M Same as record ‘100’ Vendor code (transferor) 6 12 N M Common identifier (1st field) (3) 9 18 A M siren/export insurer n°/VAT n° Common identifier (2nd field) (3) 5 27 N M nic or continuation of VAT n°
Billed customer’s company name (4) 40 32 A M Customer brand 40 72 A O if known Road name and number (5) 40 112 A M Additional address 40 152 A O locality Post code (6) 6 192 A M Distributor office 34 198 A M Locality or Town
Country Code (7) 3 232 A M Debtor’s telephone no. 10 235 A O Debtor code allocated by the transferor 10 245 A O M, if VAT n° or nothing in position 18 Document date 8 255 N M YYYYMMDD Document number (7) 15 263 A M Document
currency (8) 3 278 A M “EUR” for Euros Document sign 1 281 A M “+” for invoices Document total (9) 15 282 N M no decimal place Payment method (10) 3 297 A M Due date 8 300 N M YYYYMMDD Debtor’s order N°
(11) 10 308 A M Customer order reference (11) 40 318 A M Document type 3 358 A M Value =“FAC” For record “101” Invoice Notes (1)Type : N = numeric—A = alphanumeric (2)Content : M = mandatory—O = optional
(3) Depending on the type of identifier selected (record 100). If 1 is selected, the SIRET (Siren+Nic) should correspond to the address of the billed customer. (4) The company name should not include the name of the town or locality.
Abbreviations should be followed by the full name. (5) Important: for large cities, not entering the fields “n°, road, address” in full may lead to the record being rejected. (6) Important: for 1 digit French departments,
space fill the left of the field using a zero (e.g. 02000 LAON) and the right of the field using blank spaces; use this field for international post codes, even if the country standardisation involves inserting the post code to the right of the
distributor office. (if >truncate to 6). (7) Example: for France = F (PTT standards) FR (ISO standards) depending on the choice given in record “100”. Important: If the country code and currency fields are filled in incorrectly
(see appendices on pages 22 to 25), the record will be rejected. (8)The number should be the same as the number stated on the physical invoice. At present, the Factor only includes eight alphanumeric characters; These should not be duplicated. If
the number is > eight characters, only the last eight (from right to left) will be included. e.g. the n° “0011098000200” becomes “98000200”. For staggered payments, generate an invoice record for each due date using the
same number followed by a letter (a, b, c, etc. (see 9). (9) Net total of the invoice. For staggered payments (see 8), state the net total which corresponds to each due date. (10) Payment methods: LCR = RIB bill of exchange
accepted—LCM = Electronic bill of exchange not accepted PRE = Direct debit—LCN = RIB bill of exchange not accepted BOR = promissory note- CHQ = cheque—VIR = transfer—MAD = Administrative money order PAG = Pagare—RIB =
Riba—REC = Recibo. (11) References (order n°, contract n°, store n°, place of delivery, etc.) which your customer may ask you to repeat in any letters sent (either use the 10 character field or the 40 character field, or both
fields after position 308) IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value=102 File creation
date 8 4 N M same as record ‘100’ Vendor code (transferor) 6 12 N M Common identifier (1st field) (3) 9 18 A M same as record ‘101’ Common identifier (2nd field) (3) 5 27 N M same as record ‘101’ Billed
customer’s company name (4) 40 32 A M Customer brand 40 72 A O Road name and number (5) 40 112 A M Additional address 40 152 A O Post code (6) 6 192 A M Distributor office 34 198 A M Country Code (7) 3 232 A M Debtor’s
telephone no. 10 235 A O Debtor code 10 245 A O same as record 101 Document date 8 255 N M YYYYMMDD Initial credit note N° or the associated invoice n° (8) 15 263 A M Document currency (9) 3 278 A M Document sign 1 281 A M
“-” for credit note Document total 15 282 N M no decimal place Free text field 11 297 A M spaces Credit note number (10) 15 308 A M Comments –reason 35 323 A O Document type 3 358 A M Value=“AVO” For record
“102” Credit notes Notes Up to position 255 Notes (01) to (07) same as record ‘101’ invoices (8) Enter the credit note number, unless the credit note cancels an invoice completely, enter the associated invoice
number. At present, the Factor only includes eight alphanumeric characters; They should be meaningful and should not be duplicated. If the number is > eight characters, only the last eight (from right to left) will be included. e.g.
“0011098000200” becomes “98000200”. (9) If the country code and currency fields (7) are filled in incorrectly (see appendices on pages 22 to 25), the record will be rejected. (10) Always state the credit note
number. IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value=103 File creation
date 8 4 N M same as record ‘100’ Transferor code (vendor) 6 12 N M Common identifier (1st field) 9 18 A M same as record ‘101’ Common identifier (2nd field) 5 27 N M same as record ‘101’ Customer’s company name 40
32 A M Customer brand 40 72 A O if known Road name and number 40 112 A M Additional address 40 152 A O locality, place Post code 6 192 A M Distributor office 34 198 A M Country Code 3 232 A M Debtor’s telephone no. 10 235 A O same as record
‘101’ Debtor code 10 245 A O Payment accounting date 8 255 N M Invoice or credit note N° in question (8) 15 263 A M Document currency (9) 3 278 A M Document sign (10) 1 281 A M “-” if invoice “+” if
credit note Payment amount (10) 15 282 N M no decimal place Payment due date (11) 8 297 N M YYYYMMDD Free text fields 13 305 A M Comments –reason 40 318 O M Transaction type (12) 3 358 A M For record “103” Payment
assignment Notes Up to position 255 Notes (01) to (07) same as record ‘101’ invoices (8)Enter the invoice number or credit note number in question which is the same as the number transferred in record 101 or 102
(9) Important: the currency should be the currency on the corresponding invoice. (10) If the payment balances several invoices: generate as many “103” records as there are invoices and credit notes to be covered. If several
payments with the same due date balance the same invoice, you can generate a single “103” record for the payment total. Specific cases : Non-payment, credit note, progress payment (see appendix 3 on page 18) (11)For instruments, specify
the actual due date (and not the due date of the associated invoice or the date in the customer’s payment terms). For cheques and transfers, mention the payment accounting date. (position 255) (12) State the Payment type: LCR = RIB bill of
exchange accepted—LCM = electronic bill of exchange not accepted PRE = Direct debit—LCN = RIB bill of exchange not accepted BOR = promissory note- CHQ = cheque—VIR = transfer MAD = Administrative money order PAG = Pagare—RIB =
Riba—REC = Recibo IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value=104 File creation
date 8 4 N M same as record ‘100’ Transferor code (vendor) 6 12 N M Common identifier (1st field) 9 18 A M same as record ‘101’ Common identifier (2nd field) 5 27 N M same as record ‘101’ Customer’s company name 40
32 A M Customer brand 40 72 A O if known Road name and number 40 112 A M Additional address 40 152 A O locality, place Post code 6 192 A M Distributor office 34 198 A M Country Code 3 232 A M Customer telephone no. 10 235 A O Debtor code 10 245 A O
same as record ‘101’ Document accounting date 8 255 N M YYYYMMDD Associated invoice N° (8) 15 263 A M Document currency (9) 3 278 A M Document sign (10) 1 281 A M “ + “ if “AJD” “-” if
“AJC” Document total 15 282 N M no decimal place Free text fields 21 297 A M spaces Comments –reason 40 318 A O Transaction type (11) 3 358 A M Value = “AJD” = debit “AJC” = credit For record “104”
Adjustments Notes Up to position 255 Notes (01) to (07) same as record ‘101’ invoices (8)Enter the invoice number or credit note number. If several invoices or credit notes are affected by the same customer payment, generate a
single record on one of the invoices for the total adjustment amount. (9) If the country code and currency fields are filled in incorrectly (see appendices on pages 22 to 25), the record will be rejected. (10) the document sign and the
transaction type (11) should be compatible. (11) “AJD” = debtor adjustment, will increase the amount owed on an invoice. Examples (overpayments, difference in currency exchange rate upon payment) “AJC” = creditor
adjustment, will decrease the amount owed on an invoice. Examples (debit note, discount, Advertising contribution deducted, customer/supplier offsets) IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement
line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value=107 File creation
date 8 4 N M same as record ‘100’ Vendor code (transferor) 6 12 N M Common identifier (1st field) (3) 9 18 A M SIREN Common identifier (2nd field) (3) 5 27 N M NIC Customer’s company name (4) 40 32 A M Customer brand 40
72 A O important, if known Road name and number (5) 40 112 A O Additional address 40 152 A O Post code (6) 6 192 A M Distributor office 34 198 A M Country Code (7) 3 232 A M letter “F” (France) Customer telephone no. 10 235
A O Customer code 10 245 A O allocated by the transferor Date of the request 8 255 N M creation date Total requested (8) 15 263 N M in thousands of the currency Guarantee currency 3 278 A M “EUR” for Euros Validity date 8 281 A O if
specific request Bank Code (9) 5 289 N O French standard Branch code 5 294 N O French standard Account number 11 299 A O French standard RIB key 2 310 N O French standard Bank name 24 312 A O French standard Bank country code 3 336 A O letter
“F” (France) Manager name to contact 19 339 A O Transaction type 3 358 A M Value =” DGA “ For record “107” Guarantee requests Notes Up to position 255 Notes (01) to (07) same as record ‘101’ invoices
(8) Express the request in the currency; preferably round to the highest thousand). The request total should correspond to the maximum credit limit for commercial relations with your customer (Registered office + secondary offices = same
siren). Example: Estimated or achieved turnover for 12 months = 200K Euros Turnover: 90 days Maximum credit limit = 200 x 90/365 = a maximum of 50 K Euros for commercial relations with your customer (registered office + secondary offices = same
siren). (9)Important: The RIB and the name of the case manager at the bank are useful information in the event that any additional investigations are deemed necessary. IT customer relations RIV© Copyright –GE Factofrance transfers
confidential agreement line for line version – 01/01/2009 

 

 
 Structure Field Name Length Position Type (1) M/O(2) Comments Record code 3 1 N M Value =199 Vendor code
(transferor) 6 4 N M Vendor name (transferor) 40 10 A M File creation date 8 50 N M same as record ‘100’ Number of invoice records “101”(3) 4 58 N O for “invoices” Invoice total 15 62 N O in the currency stated in
position 352 Number of credit note records “102”(4) 4 77 N O for “credit notes” Credit note total 15 81 N O in the currency stated in position 352 Number of “payment” records “103”(5) 4 96 N O for
“invoices” Total payments 15 100 N O in the currency stated in position 352. Number of “Adjustment” records “104”(6) 4 115 N O for “credit notes” Adjustment total 15 119 N O in the currency stated in position
352. Number of records “107”(7) 4 134 N O for “guarantee requests” Guarantee request total 15 138 N O in the currency stated in position 352. Free text field 199 153 N O spaces Currency of the amounts 3 352 A O RIV type version 6
355 N M Content = “000000” For record “199” End of file Notes (1) Type : N = numeric—A = alphanumeric (2) Content : M = mandatory—O = optional (3), (4), (5), and (7) if > 4 digits enter 9999 If the
record is missing from the file, enter zeros in the field. IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Your contact representatives 

 

 
 Receipt template 

 

 
 Examples of “invoice, credit note, payment assignment and adjustment” files At the same time that you
hand over your customers’ payment methods for collection in the dedicated account, you will send us a faithful copy Appendix 3 of the payments posted in your ledgers. You are advised to group invoices, credit notes and payment assignments in
the same file. (1) Issue of 2 invoices and 1 credit note for customer C41004 (F100 for €3000.40 incl. tax, F101 for €7000.10 incl. tax, A11 for –€10.50) (2) Record of a payment by cheque for €1548.72 with a 2%
discount received from customer C41001 for the invoices (F81 for 980.15, F82 for 600.18 (the discount is deducted from one of the invoices for the balance). (3)Record of a non-payment (payment due on 15/09/2008) for €1810.50 for customer C41004
for invoice F45 for €1810.50. (4) Record of a payment by transfer for €1200 for customer C41018 (this is a progress payment for an invoice which will be issued at the end of the month). The progress payment should be recorded either
using a conventional document number (e.g. AC1.AC2 (2nd progress payment).etc.) or the internal customer number followed by AC1.etc. When an invoice is issued, it will be cancelled using the same conventional document number (103 with the + sign),
then recorded using the actual invoice n°... (103 with—sign) in accordance with the example in point (5) (5) Issue of invoice F102 for customer C41018 for €3600.00 and progress payment of €1200 already received.
(assuming that the file is sent at the end of the month). (In order of the field names shown in the records (in this example, the field length is not observed) 10009998 DEM0 20081015MONSIEUR DUPONT 12 001 EUR000000
(1) 1012008101500999831400770900046FRANCE 3 7 ALLEE HD 75015 PARISFR 0156223030C41004 20081012F100EUR+000000000300040CHQ20081030CDE N 2 REF 791FAC (1) 1012008101500999832718171501280FRANCE 3 7 ALLEE HD 75015 PARISFR 0156223030C41004
20081012F101EUR+000000000700010CHQ20081030CDE352 REF 921FAC (1) 1012008101500999832718171501280FRANCE 3 7 ALLES HD 75015 PARISFR 0156223030C41004 20081012A11EUR-0000000000001050 A11 AVO (2) 1032008091500999832596220700016LECLERC BP 821
17416 ANGE LY FR 0546321183C41001 20081011F81EUR-000000000009801520081011CHQ (2) 1032008091500999832596220700016LECLERC BP 821 17416 ANGE LY FR 0546321183C41001 20081011F82EUR-000000000005685720081011 CHQ
(2) 1042008091500999832596220700016LECLERC BP 821 17416 ANGE LY FR 0546321183C41001 20081011F82EUR-00000000000031612% discount S/Fac81 and F82 AJC (3) 103200809150099984509556120020CHAM PION RUE DES X 21715 LE NOUV FR 0323971205C41004
20081005F45EUR+000000000018105020081005Unpaid instrument 150908LCR (4) 1032008091500999878692030600168CORA BP 1968105 ST DIEFR 0329550031C410018 20081011CF003AC1 EUR-0000000000120000VIR200810118Progress paymentVIR
(5) 1012008091500999878692030600168CORA BP 196 88105 ST DIEFR 0329550031C410018 20081031F102EUR+0000000000360000VIR20081110 FAC (5) 1032008091500999878692030600168CORA BP 196 88105 ST DIEFR 0329550031C410018 20081011CF003AC1
EUR-0000000000120000VIR200810118 Progress paymt cancelled 10/11VIR (5) 1032008091500999878692030600168CORA BP 196 88105 ST DIEFR 0329550031C410018 20081011F102EUR-0000000000120000VIR200810118Progress paymentVIR 199009998DEM0
200810150030000000000013600500001000000000000105000060000000000938220001000000000003161000000000000000000000000000000000000000000000000EUR0000000 Other possibility for the record of payment by cheque for €1548.72 with 2% discount
(2) 1032008091500999832596220700016LECLERC BP 821 17416 ANGE LY FR 0546321183C41001 20081011F81EUR-0000000009801520081011CHQ (2) 1032008091500999832596220700016LECLERC BP 821 17416 ANGE LY FR 0546321183C41001
20081011F82EUR-000000000006001820081011 CHQ (2) 103200891500999832596220700016LECLERC BP 821 17416 ANGE LY FR 0546321183C41001 20081011F82EUR+000000000000003161281011cancels discount(*) CHQ (2) 1042008091500999832596220700016LECLERC BP 821
17416 ANGE LY FR 0546321183C41001 20081011F82EUR-00000000000031612% discount allocated Fac81 and F82AJC ( * ) cancels the discount deducted (in accordance with the total payment amount). A different conventional document n° for each adjustment
(e.g. internal adjustment n°the same on both records 103 and 104) is accepted if association with the invoice n° (‘F82’ in this example) affected by the payment is not possible. As soon as a file is sent, a summary of the amounts
transmitted remotely, invoices, credit notes, adjustments and payment “images” should be sent in a message via our website ‘GE Factofrance Net‘. ‘Messagerie’ tab, select “Contactez vos correspondants Example: Re:
Transfer on 15/10/2008 sent via the internet 3 InvoicesTot 13600.50 1Credit noteTot 10.50 6 Payment Tot 938.22 1Adjustment Tot 31.61 IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line
version – 01/01/2009 

 

 
 Example of a “Guarantee Request” file Appendix 4 (In order of the field names shown in the records
(in this example, the field length is not observed) 100009998STE DEMO 20081005MME SANDRA0478517014047351701112FR86305823403 001 EUR000000 1072008100500999830241222600011SOCIETE SEBPOLE METAL 21260 SELONGEYFR
0380754444C00080020081005000000000000010EUR000000000000000000 00 DGA 1072008100500999835083170700020FILLARDETFILLARDETZI LE LIOUX01590 DORTAN FR 0474758304C003508 20081005000000000000010EUR0000000010096180400001364420136DGA
1072008100500999857568035000015ARC41 AV GENERAL DE GAULLE62510 ARQUESFR 0321954647C002300 20081005000000000000010EUR0000000030001007610000K11001833DGA 1072008100500999895650338700048SANTOS140.150 AVENUE ROGER 69120 VAULXFR 0472373529C001900
20081005000000000000010EUR00000000000000000000DGA 1072008100500999833455928300042SIMA14 RUE BECQUEREL 93275 SEVRAN FR 0143836001C004404 20081005000000000000015EUR0000000030066109480001001390139 DGA 1072008100500999864200784300021ROBOT C 12 AVENUE
MAL LECLERC71305 MONTCEAU FR 0385695033C000400 20081005000000000000100EUR0000000030003033300002053973984DGA 199009998STE DEMO
2008100500000000000000000000000000000000000000000000000000000000000000000000000000000006000000000000155000000000000000000000000000000EUR000000 IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for
line version – 01/01/2009 

 

 
 Transmission method Appendix 5 GE Factofrance Net: website for managing accounts and vendor transactions. It
allows files to be sent which may or may not have been signed electronically. (security during the transfer and data INTERNET via our website “Factonet” encryption) If your files of invoices and credit notes are very large (> 6 MB (2000
invoices), we recommend that you use the SFTP protocol Secure File Transfer Protocol; security during transfer and data encryption. SFTP (Internet network) If you choose to use the SFTP protocol, a qualification test is mandatory in order to define
the log-in parameters and to send a test file using temporary data: refer to page 16 “Your contact representatives” to send us the name of the person to contact and we will send that person the configuration procedure. Other Protocols:
Contact us: refer to page 16 “Your contact representatives”. IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Non-exhaustive list of the interface and/or editor software on which our partners can generate a file in
accordance with the Factor’s standards Appendix 6 If you would like to be put in contact with one of our partners that has already developed an interface, refer to appendix 1 “Your contact representatives” on page 16 ADONIX V3 ADONIX
X3 SQL ANAEL DB2 API SOFT A CCMX CEGID S CERI PICK CETRAFACT CIEL DAISIR DYNAMICS AX DIVALTO EBP EVOLIA – CEGI FACTOPACK FCLIC GENERIX INTERLOGICIEL IRIS FINANCE DB2 JD Edwards LEFEBVRE Software LD COMPTA DB2 LD COMPTA SQL NAVI SION NAVISION
SQL ORLIWEB-CEGID PGI – CEGID QUADRATUS SAGE 30 SAGE 100 SAGE 100 SAGE 500 Intégrale V10 SAGE 500 Intégrale V4 SAGE 500 Intégrale UNIX SAGE 500 Modulaire SAGE 500 Modulaire SQL SAGE 1000 Oracle SAGE 1000 SQL SAP R3 SQL SAP
Business One SQL TARGET TRANSMAGIC – INFOVISA WINFACT—SOREGOR IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Table of ISO standard currency codes Appendix 7 Code Abréviation Libellé devise 03 AUD DOLLAR
AUSTRALIEN 05 GBP LIVRE STERLING 06 TWD DOLLAR TAIWANAIS 08 PHP PESO PHILIPPIN (*) 12 BGN LEV BULGARE 15 ARS PESO ARGENTIN (*) 16 EUR EURO 17 SEK COURONNE SUEDOISE 19 HKD DOLLAR HONG KONG 20 DKK COURONNE DANOISE 21 NOK COURONNE NORVEGE 22
SGD DOLLAR SINGAPOUR 25 NZD DOLLAR NEO-ZELANDAIS 26 CHF FRANC SUISSE 28 JPY YEN (*) 29 HRK KUNA CROATE 30 MAD DIRHAM MAROCAIN Code Abréviation Libellé devise 32 XAF FRANC CFA (*) 33 TND DINAR TUNISIEN 35 ZAR RAND 36 MYR
RINGITT MALAISIE 37 CZK COURONNE TCHEOUE (*) 39 RON LEU ROUMAIN 40 MXN PESO MEXICAIN 41 THB BATH THAILANDAIS 42 PLN ZLOTY POLONAIS 43 SAR RIAL SAOUDIEN 44 AED DIRHAM EMIRATS ARABES UNIS 45 INR ROUPIE INDIENNE 46 HUF FORINT HONGROIS 47 CNY YUAN
RENMIBI (*) Currency with no decimal places Example: structure = 100 €uros = [000000000010000] 100 Yens = [000000000000100] Please contact your representative (appendix 1 on page 16) if a currency is not listed in this table IT customer
relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Table of COUNTRY codes Appendix 8 Norme Norme Norme Norme Norme Norme Pays Pays Pays PTT ISO PTT ISO PTT ISO
ABU DHABI AD AE BERMUDES BMR BM DANEMARK DK DK AFGANISTAN AFG AF BOLIVIE BOL BO DJIBOUTI DB DJ AFRIQUE DU SUD (ZUID AFRIKA) ZA ZA BOSNIE HERZEGOVINE YBH BA DOMINIQUE WD DM AJMAN AJM AE BOTSWANA RB BW DUBAI DU AE ALBANIE AL AL BOUTHAN BT BT EGYPTE ET
EG ALGERIE (EL DJAZAIR) DZ DZ BRÉSIL BR BR EL SALVADOR ES SV ALLEMAGNE D DE BRUNEI DARUSSALAM (NEGARA) BRU BN EMIRATS ARABES UNIS (U.A.E.) FEA AE ANDORRE AND AD BULGARIE BG BG EQUATEUR EC EC ANGOLA AG AO BURKINA FASSO HV BF ERYTREE ERY ER
ANTIGUA BARBUDA ANT AG BURUNDI BI BI ESPAGNE E ES ANTILLES NEERLANDAISES NWI AN CAMEROUN TC CM ESTONIE EE EE ARABIE SAOUDITE AS SA CANADA CDN CA ETATS UNIS D’AMERIQUE DU NORD USA US ARCHIPELS WALLIS ET FUTUNA F W WF CAP VERT CV CV ETHIOPIE ETH
ET ARGENTINE RA AR CENTRAFRIQUE RCA CF FIDJI FJI FJ ARMENIE ARM AM CHILI RCH CL FINLANDE SF FI ARUBA AW AW CHINE (REPUBLIQUE POPULAIRE) RC CN FRANCE F FR AUSTRALIE AUS AU CHYPRE CY CY FUJAIRAH FUJ AE AUTRICHE A AT COLOMBIE CO CO GABON GAB GA
AZERBAIDJAN AZE AZ COMORES CMR KM GAMBIE WAG GM BAHAMAS BS BS CONGO RCB CG GEORGIE GEO GE BAHREIN BRN BH CONGO (REP.DEMOCRAT.) EX ZAIRE ZRE CD GHANA GH GH BANGLA DESH BD BD COREE DU NORD (REP. POP. DEM.) COR KP GIBRALTAR GBZ GI BARBADE BDS BB COREE
DU SUD ROK KR GRANDE BRETAGNE (ROYAUME UNI) GB GB BELARUS (BIELORUSSIE) BY BY COSTA RICA CR CR GRECE (REP. HELLENIQUE) GR GR BELGIQUE B BE COTE D’IVOIRE CI CI GRENADE WG GD BELIZE BH BZ CROATIE (HRVATSKA) YCR HR GUATEMALA GCA GT BENIN DY BJ
CUBA C CU GUINEE GUI GN IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Table of COUNTRY codes (continued) Appendix 8 Norme Norme Norme Norme Norme Norme Pays Pays Pays PTT ISO PTT
ISO PTT ISO GUINEE BISSAU GIB GW KAZAKHSTAN KZ KZ MOLDAVIE MOL MD GUINEE EQUATORIALE GEQ GQ KENYA EAK KE MONACO MC MC MONGOLIE (REPUB. GUYANA GY GY KIRGHIZISTAN KGZ KG MON MN DEMOCRATIQUE) GUYANE F Y GF KIRIBATI (ILES GILBERT) KIR KI MONTENEGRO YMO
ME HAITI RH HT KOWEIT KWT KW MAZAMBIQUE MZ MK HONDURAS HON HN LAOS LAO LA MYANMAR (BIRMANIE) BUR MM HONG KONG HK HK LESOTHO LS LS NAMIBlE SWA NA HONGRIE H HU LETTONIE LT LV NAURU NRU NR ILE DE LA GUADELOUPE F G GP LIBAN RL LB NEPAL NP NP ILE DE LA
MARTINIQUE F M MQ LIBERIA LB LR NICARAGUA NIC NI ILE DE LA REUNION F R RE LIBYE (JAMAHIRIVA ARABE) LAR LV NIGER RN NE ILES COOK W CK CK LIECHTENSTEIN (FUERSTENTUM) FL LI NIGERIA WAN NG ILES MARSHALL (REPUBLIQUE DES) M HL MH LITUANIE LIT LT NORVEGE N
NO ILES SALOMON DU SUD SAL SB LUXEMBOURG L LU NOUVELLE CALEDONIE F N NC ILES TURKS ET CAIQUES TCA TC MACAO MKO MO NOUVELLE ZELANDE NZ NZ INDE IND IN MACEDOINE YM A MK OMAN ET MASCATE OM OM INDONESIE RI ID MADAGASCAR RM MG OUGANDA EAU UG IRAK IRQ IQ
MALAISIE (LABUAN) M AL MY OUZBEKISTAN UZB UZ IRAN IR IR MALAWI MW MW PAKISTAN PAK PK IRLANDE (EIRE) IRL IE MALDIVES (REPUBLIOUE DES ILES) MI MV PANAMA PA PA ISLANDE IS IS MALI RMM ML PAPOUASIE-NOUVELLE-GUINEE PNG PG ISRAEL IL IL MALTE M MT PARAGUAY
PY PY ITALIE I IT MAROC MAL MA PAYS BAS NL NL JAMAIQUE JA JM MAURICE MS MU PEROU PE PE JAPON J JP MAURITANIE RIM MR PHILIPPINES RP PH JORDANIE HKJ JO MAYOTTE COMORES F C YT POLOGNE PL PL KAMPUCHEA K KH MEXIQUE MEX MX POLYNESIE FRANCAISE F P PF IT
customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version – 01/01/2009 

 

 
 Table of COUNTRY codes (end) Appendix 8 Norme Norme Norme Norme Pays Pays PTT ISO PTT ISO Portugal P PT
SLOVAQUIE CSS SK POS. UK AMER. (CAYMAN, MONTSERRAT) RUA VG SLOVENIE YSL SI POSS. USA PACIFIQUE (PALAU) PUP PW SOMALIE SP SO POSS. NLE ZELANDE NIUE, TOKELAU PNZ NU SOUDAN SUD SD POSS. USA AMERIQUE (PUERTO RICO) PUA PR SRI LANKA CL LK POSSESS.
DANOISES (ILES FEROE) PAU FO ST PIERRE & MIQUELON F S PM POSSESSIONS AUSTRALIENNES PAU CC SUEDE S SE QATAR QT QA SUISSE (CONFEDERAT. HELVETIQUE) CH CH RAS-EL-KHAIMAH RK AE SURINAM SME SR REPUBLIQUE DOMINICAINE DOM DO SWAZILAND (NGWANE) SD
SZ REPUBLIQUE TCHEOUE CST CZ SYRIE SYR SY ROUMANIE R RO TADJIKISTAN TJK TJ RUSSIE (FEDERATION DE) RUS RU TAIWAN TW TW RWANDA RWA RW TANZANIE EAT TZ SAINT KITTS ET NEVIS SKN KN TCHAD TCD TD SAINT MARIN RSM SM TERRITOIRE PALESTINIEN OCCUPE ILT PS
SAINT VINCENT—GRENADINES NORD WV VC THAILANDE T TH SAINTE LUCIE WL LC TOGO TG TG SAMOA OCCIDENTALES W S W S TONGA (ROYAUME DES ) TON TO SAO TOME ET PRINCIPE STP ST TRINIDAD TOBAGO TT TT SENEGAL SN SN TUNISIE TN TN SERBIE YUN RS
TURKMÉNISTAN TKM TM SEYCHELLES SY SC TURQUIE TR TR SHARJAH SHA AE UKRAINE UA UA SIERRA LEONE WAL SL UMM-AL-QAYWAYN UAQ AE SINGAPOUR SGP SG URUGUAY U UY Pays Norme Norme PTT ISO VANUATU (NOUVELLES HEBRIDES) NH VU VATICAN V VA VENEZUELA YV VE
VIET NAM VN VN YEMEN NORD (REPUBLIQUE ARABE) RY YE YEMEN SUD (REP. DEM. PQP.) ADN YE ZAMBIE Z ZM ZIMBABWE (RHODESIE) RSR ZW IT customer relations RIV© Copyright –GE Factofrance transfers confidential agreement line for line version –
01/01/2009 

 SCHEDULE 10. 

TRANSFERRED RECEIVABLES LEDGERS 

PNS CLIENTS ELIGIBLES (GE FACTO) 
  

																					
	 Société
	  	 Domaine Activité
	  	 Client
	  	 Nom
	  	 Code cession
	  	 Pays
	  	 Exercice
	  	 No pièce
	  	 Date comptable
	  	 Date pièce
	  	 Saisie le

	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]

  

															
	 Devise pièce
	  	 Type pièce
	  	 CC (signe de la pièce)
	  	 D/C (Débit/Crédit)
	  	 Montant Devise Pièce
	  	 Montant Devise Interne
	  	 Devise
	  	 Texte

	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]	  	[•]

  
 96 

 SCHEDULE 11. 

FORM OF CONSENT LETTER 

[Letterhead of Seller] 
 Date: [•]

 From: [•] 
 To: [•] 

Dear Sirs, 
 We refer to the [supply/purchase] agreement
dated [•] between [Name of Debtor] and [Seller] (the “Agreement”). [Insert any relevant background information. If needed].  

We write to inform you that we will be seeking to raise finance for our general corporate purposes and that we will obtain such financing by way of
transferring, assigning or collateralizing receivables payable to us by our customers, including [Name of Debtor], notably pursuant to the Agreement. 

In this context, we will be assigning, pledging, transferring or otherwise disposing of, by way of sale, security or otherwise, some or all of our receivables
arising (whether in the past, now or in the future from the Agreement to one or more persons (which will be entities providing financing to [Seller], being either (a) financial institutions or (b) special purpose entities funded by
(i) financial institutions and/or (ii) the capital markets, in each case in the context of factoring/sale arrangements, which are in line with general market standards) in connection with any such proposed financing and we kindly ask you
(on your own behalf and for and on behalf of your affiliates from time to time party to the Agreement (together, from time to time, your “Affiliates”) to consent and agree to us doing so, if and to the extent such consent and
agreement is required by the Agreement. 
 We also kindly ask you to confirm that, by your signature of this letter, each of your Affiliates from time to
time party to the Agreement will also have consented and agreed to and be bound by the matters contemplated by this letter. 
 Your (including those of your
Affiliates) and our rights and obligations under the Agreement otherwise remain unchanged. If you have any questions concerning this letter, please contact us at [•]. 

Yours faithfully, 
 [Seller] 

We hereby consent, on our own behalf and for and on behalf of our Affiliates (as defined above), whose consent and agreement to be bound we are duly authorized
to give, to [Seller] assigning, pledging, transferring or otherwise disposing of, by way of security or otherwise, some or all of its receivables arising under the Agreement (as described above). 

[Debtor] 
 duly authorized for and on behalf of [Name of
Debtor] acting on our own behalf and for and on behalf of our Affiliates (as defined in the above letter) 

  
 97 

 SCHEDULE 12. 

COLLECTION ACCOUNTS 
  

									
	 Name
	 	 Jurisdiction
	 	 Location of the Collection

Account
	 	 Bank
	 	 Number

	 Constellium
 Issoire
	 	France	 	 BNP Paribas
 Centre d’affaires de la
Défense Entreprises
 5 bis place de la défense

92974 Paris la Défense
	 	BNP Paribas	 	 FR 76 3000 4013 2800 0127 2301 004 (euro account)
  

FR 76 3000 4013 2800 0101 6232 741 (USD account)

					
	 Constellium Neuf
 Brisach
	 	France	 	 BNP Paribas
 Centre d’affaires ile de
France Ouest Entreprises
 85-93 rue des 3 Fontanot,
 92 000
Nanterre
	 	BNP Paribas	 	 30004 01328 00012723107 04
 (euro account)

 
 30004 01328 00010162424 41

(UDS account)

					
	Constellium Extrusions France	 	France	 	 BNP Paribas,
 85 Rue des 3 Fontanot

92729 NANTERRE
	 	BNP PARIBAS LA DEFENSE ENTREPRISES	 	 RIB : 30004 01328 00010664185 04

IBAN : FR76 3000 4013 2800 0106 6418 504
 BIC :
BNPAFRPPPTX

  
 98 

 SCHEDULE 13. 

LOCATION OF RECORDS 

 

					
	 Seller
	  	 Registered office
	  	Location of records and documents evidenctng
	  	  	the Transferred Receivables
	Constellium Issoire	  	As indicated in Schedule 2	  	Constellium Issoire, ZI des Listes, Rue
Yves de Lamourdedieu, 63500 Issoire
			
	Constellium Neuf Brisach	  	As indicated in Schedule 2	  	Constellium Neuf Brisach, ZIP
Rhénane Nord RD52, 68 600 Biesheim
			
	Constellium Extrusions France	  	As indicared in Schedule 2	  	Constellium Extrusions France, 1, Voie
Gustave Eiffel, 21702 Nuits Saint
Georges

  
 99 

 SCHEDULE 14. 

CURRENT ACCOUNTS 
  

							
	 Name of Seller
	  	 Jurisdiction
	  	 Currency
	  	 Number / Seller Code

	Constellium Issoire	  	France	  	 EUR

USD
	  	 024862

029565

	Constellium Neuf Brisach	  	France	  	 EUR

USD
	  	 026934

029568

	Constellium Extrusions France	  	France	  	EUR	  	024865

  
 100 

 SCHEDULE 15. 

FINANCING REQUESTS – GE ADRESSEES 

gilles.crombez@ge.com 
 gefacto-dge2@ge.com 

  
 101 

 SCHEDULE 16. 

JURISDICTION MATRIX* 
  

					
	 No.
	  	 Relevant Law

Governing Law of the Transferred Receivable
	  	Relevant Country
Jurisdiction of incorporation of the Debtor
	 1.
	  	Austrian Law	  	European Union
			
	 2.
	  	Austrian Law	  	Turkey
			
	 3.
	  	Austrian Law	  	Canada (Ontario)
			
	 4.
	  	Austrian Law	  	Jordan
			
	 5.
	  	Austrian Law	  	UAE (Dubaï)**
			
	 6.
	  	Austrian Law	  	USA (Tennessee)
			
	 7.
	  	Austrian Law	  	Australia
			
	 8.
	  	Austrian Law	  	Switzerland
			
	 9.
	  	Belgian Law	  	European Union
			
	 10.
	  	Belgian Law	  	Turkey
			
	 11.
	  	Belgian Law	  	Canada (Ontario and Quebec)
			
	 12.
	  	Belgian Law	  	Jordan
			
	 13.
	  	Belgian Law	  	UAE (Dubaï)**
			
	 14.
	  	Belgian Law	  	USA (State of Tennessee)
			
	 15.
	  	Belgian Law	  	Australia
			
	 16.
	  	Belgian Law	  	Switzerland
			
	 17.
	  	Dutch Law	  	European Union
			
	 18.
	  	Dutch Law	  	Turkey
			
	 19.
	  	Dutch Law	  	Canada (Ontario and Quebec)
			
	 20.
	  	Dutch Law	  	Jordan
			
	 21.
	  	Dutch Law	  	UAE (Dubaï)**
			
	 22.
	  	Dutch Law	  	USA (State of Tennessee)

  
 102 

					
	 No.
	  	 Relevant Law

Governing Law of the Transferred Receivable
	  	Relevant Country
Jurisdiction of incorporation of the Debtor
	 23.
	  	Dutch Law	  	Australia
			
	 24.
	  	Dutch Law	  	Switzerland
			
	 25.
	  	English Law	  	European Union
			
	 26.
	  	English Law	  	Turkey
			
	 27.
	  	English Law	  	Canada (Ontario and Quebec)
			
	 28.
	  	English Law	  	Jordan
			
	 29.
	  	English Law	  	South Korea
			
	 30.
	  	English Law	  	UAE (Dubaï)**
			
	 31.
	  	English Law	  	USA (State of Tennessee)
			
	 32.
	  	English Law	  	Australia
			
	 33.
	  	English Law	  	Switzerland
			
	 34.
	  	French Law	  	European Union
			
	 35.
	  	French Law	  	Turkey
			
	 36.
	  	French Law	  	Canada (Ontario and Quebec)
			
	 37.
	  	French Law	  	Jordan
			
	 38.
	  	French Law	  	South Korea
			
	 39.
	  	French Law	  	UAE (Dubaï)**
			
	 40.
	  	French Law	  	USA (State of Tennessee)
			
	 41.
	  	French Law	  	Australia
			
	 42.
	  	French Law	  	Switzerland
			
	 43.
	  	Italian Law	  	European Union
			
	 44.
	  	Italian Law	  	Turkey
			
	 45.
	  	Italian Law	  	Canada (Ontario and Quebec)
			
	 46.
	  	Italian Law	  	Jordan

  
 103 

					
	 No.
	  	 Relevant Law

Governing Law of the Transferred Receivable
	  	Relevant Country
Jurisdiction of incorporation of the Debtor
	 47.
	  	Italian Law	  	UAE (Dubaï)**
			
	 48.
	  	Italian Law	  	USA (State of Tennessee)
			
	 49.
	  	Italian Law	  	Australia
			
	 50.
	  	Italian Law	  	Switzerland
			
	 51.
	  	New York Law	  	European Union
			
	 52.
	  	New York Law	  	Turkey
			
	 53.
	  	New York Law	  	Canada (Ontario and Quebec)
			
	 54.
	  	New York Law	  	Jordan
			
	 55.
	  	New York Law	  	UAE (Dubaï)**
			
	 56.
	  	New York Law	  	USA (State of Tennessee)
			
	 57.
	  	New York Law	  	Australia
			
	 58.
	  	New York Law	  	Switzerland
			
	 59.
	  	Swiss Law	  	European Union
			
	 60.
	  	Swiss Law	  	Turkey
			
	 61.
	  	Swiss Law	  	Canada (Ontario and Quebec)
			
	 62.
	  	Swiss Law	  	Jordan
			
	 63.
	  	Swiss Law	  	UAE (Dubaï)**
			
	 64.
	  	Swiss Law	  	USA (State of Tennessee)
			
	 65.
	  	Swiss Law	  	Australia
			
	 66.
	  	Swiss Law	  	Switzerland
			
	 67.
	  	Laws of Quebec	  	European Union
			
	 68.
	  	Laws of Quebec	  	Turkey
			
	 69.
	  	Laws of Quebec	  	Canada (Ontario and Quebec)
			
	 70.
	  	Laws of Quebec	  	Jordan

  
 104 

					
	 No.
	  	 Relevant Law

Governing Law of the Transferred Receivable
	  	Relevant Country
Jurisdiction of incorporation of the Debtor
	 71.
	  	Laws of Quebec	  	UAE (Dubaï)**
			
	 72.
	  	Laws of Quebec	  	USA (State of Tennessee)
			
	 73.
	  	Laws of Quebec	  	Australia
			
	 74.
	  	Laws of Quebec	  	Switzerland

  

	*	Based on the memorandum from Clifford Chance Europe LLP to Apollo Management International LLP (with a copy to the Factor) entitled “Jurisdiction Matrix” and dated 16 December 2010. 

	**	Subject to consent from any relevant Debtor(s) located in Dubaï other than Crown. 

  
 105 

 SCHEDULE 17. 

ACCESSION FORM 

To: GE Factofrance SAS, acting as Factor 
 From: [•] [the
“Addition al Seller”] 
 Date: [•] 
 Factoring
Agreement between, among others, [•] as the Parent Company and the Factor dated [•] 2015. 
 We refer to the Agreement. Terms defined in
the Agreement shall have the same meaning when used in this form. This is an Accession Form. 
 [Name of company] [address/registered office] agrees
to become an Additional Seller and to be bound by the terms of the Agreement as an Additional Seller and Seller. 
 Moreover, we confirm that: 

 

	 	(lxxi)	All the conditions referred to in Clause 24.4.3 of the Agreement are satisfied as of the date of this Accession Form; and 

  

	 	(lxxii)	the representations and warranties set out in Clauses 17.1 (Representations and warranties of the Sellers, the Sellers’ Agent and the Parent Company) of the
Agreement, as applicable to the Additional Seller, are correct as of the date of this Accession Form by reference to the facts and circumstances existing at the date of this Accession Form. 

This Accession Form is governed by French law. Any and all disputes arising out of or in connection with this Accession Form and in particular with its
validity, interpretation, performance or non-performance, shall be exclusively referred to the competent courts of the Paris Court of Appeals. 
 We would
also appreciate if you could acknowledge accession of [•] as an Additional Seller and Seller under the Agreement. 
 [•] 

As Additional Seller 
 By: 

Agreed and accepted 
 GE Factofrance SAS as Factor 

By: 

  
 106 

 SCHEDULE 18. 

SCHEDULE SPECIFIC TO THE SELLERS 

PART 1 
 TRANSFER MODE

  

	1.	LEGAL MEANS OF ASSIGNMENT 

 Each Assignment of Eligible Receivables from any French
Seller to the Factor shall be performed by way of a deed of transfer (acte de cession de créances professionnelles) governed by, and complying with, the provisions of Article L. 313-23 et seq. of the French Monetary and
Financial Code and Article R. 313-15 et seq. of the French Monetary and Financial Code (a “French Transfer Document”). 
  

	2.	PROCEDURE FOR ASSIGNMENT 

  

	2.1	Upon the frequency set out in Clause 8.1.2 (Offer to Assign Eligible Receivables), each Seller may offer to Assign (and the Factor undertakes to purchase) all Eligible Receivables arising from time
to time, by providing (either by a manual remittance or through electronic transmission) to the Factor a duly completed and signed Transfer Document, together with the information and files (and, as the case may be, the documents evidencing such
Eligible Receivables) on such Eligible Receivables as required under Clause 8.1.2 (Offer to Assign Eligible Receivables) and Clause 8.1.3 (Payment by the Factor). 

 

	2.2	Each Transfer Document shall be prepared in compliance with the model form set out in paragraph 4 below of this SCHEDULE 18 and shall (i) clearly identify the Eligible Receivables intended to be Assigned
(together with the relevant Seller Code) and incorporate all specific requirements of Article L. 313-23 et seq of the French Monetary and Financial Code and all regulations in force relating thereto, (ii) be signed by an authorised
representative of the relevant French Seller and (iii) set out the Factor as assignee. 

  

	2.3	On the same Business Day upon delivery to it of the Transfer Document, the Factor shall date the French Transfer Document and shall hold such Transfer Document during the course of the Factoring Facility, it being
understood that such date shall constitute the Assignment Date for the purposes of the Eligible Receivables referred to in the French Transfer Document. 

  

	3.	LEGAL CONSEQUENCES 

  

	3.1	The Assignments of Eligible Receivables carried out in accordance with this Agreement shall constitute outright assignments (cessions à titre d’escompte) under Article L. 313-23 et seq. of the
French Monetary and Financial Code in favour of the Factor. 

  

	3.2	In respect of each Eligible Receivable, the transfer of ownership thereof shall operate as at the Assignment Date relating to each such Eligible Receivables, 

 

	3.3	In accordance with Article L. 313-23 et seq. of the French Monetary and Financial Code: 

  

	 	3.3.1	the delivery or transmission of any Transfer Document pursuant to the terms and conditions of this Agreement shall transfer absolute title and full ownership to the Factor of (i) the Face Value of the Transferred
Receivables which are transferred by way of such Transfer Document; and (ii) the interest and all other accessory rights (accessoires), guarantees and security interests existing in respect of these Transferred Receivables (including any
Related Security), and 

  
 107 

	 	3.3.2	as from that Assignment Date, the Factor shall have absolute title to, and shall remain the sole owner of any Transferred Receivable so assigned, even in the event that the relevant Current Account is debited and until
such Transferred Receivable have been actually Transferred-Back to the Seller pursuant to the terms of this Agreement and the Transfer-Back Price has been fully paid to the Factor. 

 

	3.4	Notwithstanding Article L. 313-24 of the French Monetary and Financial Code, none of the French Sellers shall be jointly and severally liable with the Debtor’s for the payment of the relevant Transferred
Receivables. The Factor hereby expressly waives the French Sellers’ guarantee pursuant to Article L.313-24 of the French Monetary and Financial Code. 

  
 108 

	4.	FORM OF FRENCH TRANSFER DOCUMENT 

 ACTE DE CESSION DE CREANCES PROFESSIONNELLES SOUMIS
AUX DISPOSITIONS DES ARTICLES L.313-23 A L.313-34 DU CODE MONETAIRE ET FINANCIER 
  

	A.	ACTE DE CESSION 

 Le présent acte de cession de créances professionnelles est soumis aux
dispositions des articles L.313-23 à L.313-34 du Code monétaire et financier et est établi en application des stipulations d’un contrat en langue anglaise intitulé Factoring Agreement conclu le [•] 2015
entre, le Cédant (Seller) et GE Factofrance SAS (Factor) (le “Contrat”).  
  

	B.	IDENTIFICATION DU CEDANT 

 [•], société [•] de droit
français ayant son siège social [•], immatriculée au Registre du commerce et des sociétés sous le numéro [•] RCS [•] (le Cédant). 

 

	C.	IDENTIFICATION DU CESSIONNAIRE 

 GE FACTOFRANCE, société par actions
simplifiée de droit français ayant le statut d’établissement de crédit, dont le siège social est situé Tour Facto, 18, rue Hoche, 92988 Paris-La Défense Cedex, France, immatriculée au
Registre du commerce et des sociétés sous le numéro 063 802 466 RCS Nanterre (le “Cessionnaire”). 
  

	D.	DESIGNATION DES CREANCES 

 Le Cédant cède au Cessionnaire les créances qu’il
détient au titre des factures dont la liste figure dans le fichier informatique transmis au Cessionnaire par le Cédant concomitamment à la remise du présent acte de cession. 

Conformément à l’Article L. 313-23 du Code monétaire et financier, le fichier ainsi transmis permet l’identification des
créances cédées au titre du présent acte. En outre: 
 (lxxiii) le nombre total de créances
cédées au titre du présent acte est de [•]; et 
 (lxxiv) le montant global des créances
cédées au titre du présent acte est de [•]. 
 NB: Il est nécessaire de remettre, concomitamment à la remise du
bordereau ci-dessus, le fichier informatique comprenant la liste des créances cédées au titre du bordereau, telles d’identifiées par les enregistrements “101” (avec, dans la mesure du possible,
l’indication du débiteur cédé, du montant de la créance, de la référence ou du numéro de facture, du lieu et de l’échéance de paiement). Ce fichier doit permettre
l’identification des créances cédées. 
 Conformément à l’article L. 313-24 du Code monétaire et
financier, le Cédant n’est pas garant solidaire du paiement des créances cédées au titre du présent acte. 
 Fait
à                                      , le
                                     , en 1 (un) exemplaire2. 
 [Dénomination sociale du Cédant] en sa qualité de Cédant 

  
  

	2 	Date à apposer par GE Factofrance 

  
 109 

 Par: [Nom du signataire autorisé]  

Conformément au Contrat, le présent acte de cession est stipulé à ordre, transmissible par endos au profit d’un autre
établissement de crédit. 

  
 110 

 (TRANSLATION FOR INFORMATION PURPOSES ONLY) 

FORM OF ASSIGNMENT OF PROFESSIONAL RECEIVABLES PURSUANT TO ARTICLES L.313-23 TO L.313-34 OF THE FRENCH MONETARY AND FINANCIAL CODE 

 

	A.	FORM OF ASSIGNMENT 

 This form of assignment of professional receivables is subject to the provisions of
the articles L.313- 23 to L.313-34 of the French Monetary and Financial Code and is made pursuant to the agreement encaptioned “ Factoring Agreement” entered into on [•] 2015 by and between the Assignor (as Seller) and GE
Factofrance SAS (as Factor) the “Agreement”). 
  

	B.	ASSIGNOR 

 [•], a company incorporated under the laws of France as a [•], whose
registered office is located at [•], registered with the Trade and Companies Registry of [•] under number [•] (the “Assignor”). 
  

	C.	ASSIGNEE 

 GE FACTOFRANCE SAS, a company incorporated under the laws of France as a
société par actions simplifiée and licensed as a credit institution (établissement de crédit), whose registered office is located at Tour Facto, 18, rue Hoche, 92988 Paris-La Défense Cedex,
France, registered with the Trade and Companies Registry of Nanterre under number 063 802 466 (the “Assignee”). 
  

	D.	IDENTIFICATION OF THE RECEIVABLES 

 The Assignor assigns to the Assignee the receivables owed to it under
the invoices listed and identified in the electronic file transmitted to the Assignee by the Assignor on the date this assignment form has been remitted to the Assignee. 

Pursuant to Article L. 313-23 of the French Monetary and Financial Code, the file so transmitted will allow for the identification of the receivables
transferred hereunder. 
 Moreover, 
 (lxxv)
the total number of the receivables transferred hereunder is [•]; and 
 (lxxvi) 

(lxxvii) the total amount of the receivables transferred hereunder is [•] €. 

Note: It is necessary to hand, at the same time the assignment form is remitted to the Assignee, an electronic file listing and identifying the
receivables transferred hereunder as identified pursuant to the “101” records (with, if possible, the debtor’s name, the amount of the receivable, the reference of the invoice, the location and date of payment). This file will allow
the identification of the assigned receivables. 
 Pursuant to Article L. 313-24 of the French Monetary and Financial Code, the Assignor shall not be
jointly and severally liable for the payment of the receivables transferred hereunder. 
 Executed in [•], on [•], in one original.3 
  
  

	3 	Date to be inserted by GE Factofrance 

  
 111 

  

[Insert Name of Assignor] As Assignor  
 Name:
[Insert name of authorised signatory] 
 In accordance with the Agreement, this assignment form may be transferred to any financial institution by
endorsement. 

  
 112 

 PART 2 

RETRANSFER MODE 
 Any Transfer-Back of
Affected Receivables shall take place through an automatic rescission (résolution de plein droit) of the Assignment having taken place over such Affected Receivables between the relevant French Seller and the Factor, which
Transfer-Back shall take place and occur pursuant to the following procedure: 
  

	 	(lxxviii)	if the Transfer-Back is requested by a Party pursuant to this Agreement, by no later than 10.00 a.m. on a Business Day, that Party shall deliver to the other Party a transfer-back file containing the list of all
outstanding Affected Receivables; 

  

	 	(lxxix)	by no later than 10.00 a.m. on the immediately following Business Day, the Factor shall notify to the Seller the details of the calculations of the Transfer-Back Price which shall be equal to (i) the amount of any
payment made by the Factor to the relevant Seller in respect of such Affected Receivables less (ii) the collections, the Reduction or Cancellation Items and any Insurance Indemnification relating thereto; 

 

	 	(lxxx)	by no later than 10.00 a.m. on the immediately following Business Day, the relevant Seller shall instruct the Factor to make the payment of the relevant Transfer-Back Price by way of debit of such relevant Transfer-Back
Price from its relevant Current Account and credit of such amount to its relevant bank account, provided that the payment of such Transfer-Back Price shall only be deemed to occur once the rule set forth in Clause 11.3 (Procedure for the
Transfer-Back of Transferred Receivables - Retransfer Modes) has been complied with. 

 Upon full payment of the agreed Transfer-Back
Price, the Assignment of the Transferred Receivables shall be automatically rescinded (résolu de plein droit) without any further formality and, as from that date, the relevant French Seller shall be the owner of the relevant Affected
Receivables which have been Transferred-Back to it. 

  
 113 

 PART 3 

FORM OF NOTIFICATION 

[Papier à en-tête de GE Factofrance SAS] 

Acte de Notification de Cession de Créances Professionnelles 

Lettre recommandée avec accusé de réception 

Le [•] 
 [Identification du débiteur
cédé] 
 Messieurs, 
 Réf:
Acte de notification de cession de créances professionnelles 
 Dans les conditions prévues par les articles L. 313-23 à L. 313-35
du Code monétaire et financier, la société [•], société de droit français ayant son siège social [•], immatriculée au Registre du commerce et des sociétés
sous le numéro [•] RCS [•] (le “Cédant”) nous a cédé des créances identifiées ci-après dont vous êtes débiteur envers elle. 

Les créances dont la cession est l’objet de la présente notification sont identifiées et individualisées par leur
numéro, montant et date de facture énumérées dans la liste figurant en Annexe 1 de la présente lettre (les “Créances”). 

Conformément aux dispositions de l’article L. 313-28 du Code monétaire et financier, nous vous demandons de cesser, à compter de la
présente notification, tout paiement au titre de ces Créances au Cédant. 
 En conséquence, le règlement de votre dette
devra être effectué à l’ordre de GE Factofrance par virement bancaire au crédit du compte dont les coordonnées figurent ci-après : [Insérer références IEAN du numéro de
compte].  
 Par ailleurs, conformément à l’article R. 313-16 du Code monétaire et financier, nous vous demandons de faire
figurer sur toute facture présente ou future relative à toute Créance qui ne serait pas en notre possession les mentions obligatoires suivantes: “La créance relative à la présente facture a
été cédée à GE Factofrance SAS dans le cadre des articles L. 313-23 à L. 313-35 du Code monétaire et financier. Le paiement doit être effectué directement à
l’ordre de GE FACTOFRANCE, Tour FACTO- 18 rue Hoche - Cedex 88 - 92988 LA DEFENSE CEDEX TEL: 01.46.35.[•], par virement au compte n° [Insérer références IBAN du numéro de compte] chez
[Insérer nom de la banque teneuse de compte]. 
 Cette lettre, ainsi que toute annexe y attachée, fait partie intégrant de la
présente notification. 
 Cordialement, 
 GE Factofrance

 Par: [•] 

  
 114 

 Annexe 1 

Créances 
 [A compléter]

  
 115 

 (TRANSLATION FOR INFORMATION PURPOSES ONLY) 

[Letterhead of GE Factofrance SAS] 

Notice of Assignment of Professional Receivables 

Registered letter with acknowledgement of receipt 
 [Date]

 [Identification of Assigned Debtor] 
 Dear Sirs,

 Re: Form of Notice of Assignment of Professional Receivables 

In compliance with the terms and conditions set out in Articles L. 313-23 to L. 313-35 of the French Monetary and Financial Code, [•], a company
incorporated under the laws of France as a [•], whose registered office is located at [•], registered with the Trade and Companies Registry of [•] under number [•] (the “Assignor”) has assigned to us the
receivables identified below owed by you to the Assignor. 
 The receivables whose assignment are subject to this notification are identified and
individualized by their number, amount, and invoice date, as mentioned in the list appended as Annex 1 hereto (the “Receivables”). 

In accordance with the provisions of Article L. 313-28 of the French Monetary and Financial Code, we hereby request you to cease to make, as of the date
hereof, any payment in respect of the Receivables to the Assignor. 
 As a consequence, payment of these Receivables shall be in made to GE Factofrance by
wire transfer to the credit of the bank account with number: [Insert IBAN references].  
 Moreover, pursuant to Article R. 313-16 of the French
Monetary and Financial Code, we hereby request you that ail present and future invoice(s) not in our possession relating to the Receivables include the following compulsory wording: “The receivable arising out of the present invoice has been
assigned to GE Factofrance SAS pursuant to Articles L. 313-23 à L. 313-35 of the French Monetary and Financial Code. Payment must be made to GE FACTOFRANCE, Tour FACTO - 18 rue Hoche - Cedex 88—92988 LA
DEFENSE CEDEX TEL: 01.46.35.[•] by wire transfer to the following account No. [Insert IBAN references] with [Insert name of bank account]. 

This letter, as well as any schedule appended thereto, shall be an integral part of this notification. 

Truly yours, 
  

 
 GE Factofrance 

By: [•] 

  
 116 

 Annex 1 

Receivables 
 [To be
completed] 

  
 117 

 SCHEDULE 19. 

List of Audited Items 
 Etats
comptables : 
  

	 	1.	Balance générale 

  

	 	2.	Balances auxiliaire clients et fournisseurs 

  

	 	3.	Balances âgée clients et fournisseurs triées par date d’échéances 

  

	 	4.	Grand-livre client lettré et non lettré au jour de l’audit 

 Documentations tiers :

  

	 	5.	Déclarations URSSAF et TVA couvrant les 3 derniers mois + justificatifs de paiement 

  

	 	6.	Factures de primes d’assurance-crédit + justificatifs de paiement 

  

	 	7.	Dernière liasse fiscale + rapport des CAC général et spécial 

 Données
sur chiffre d’affaires : 
  

	 	8.	Montant cumulé des avoirs pour l’exercice en cours et leurs répartitions par motif (si possible avec distinction des avoirs de RFA) 

 

	 	9.	Montant du CA interco sur l’exercice en cours. 

  

	 	10.	Détail du compte « 419 Avoirs à établir » en date de l’audit. 

  

	 	11.	Détail des FNP (factures non parvenues). 

  

	 	12.	Montant cumulé des RFA (remises de fin d’année) et PP (participations publicitaires et assimilées), leurs détails et le solde restant dû y compris sur les exercices
antérieurs.

  

	 	13.	Détail du poste sous-traitance: liste des sous-traitants et montant des achats (avec distinction du groupe) 

  

	 	14.	Avances et acomptes : Liste des clients cédés concernés avec montant des avances et acomptes facturés et encours sur affaires non soldés 

 

	 	15.	Stocks déportés/consignation (“Etat C10 Stock Tiers”): liste des clients concernés CA et valorisation 

 

	 	16.	Marchandise mise à disposition (Doc “SAB 101”) : liste des clients concernés, CA et valorisation 

  

	 	17.	Tolling (« Pseudo Tolling » et « Transformation »): Montant des achats (avec répartition par fournisseurs) et valorisation du stock 

 

	 	18.	Pour les relations croisées clients/fournisseurs sur le périmètre cédé: soldes clients et fournisseurs 

 

	 	19.	Montant de la dotation aux provisions pour créances douteuses sur le dernier exercice et sur l’exercice en cours 

  

	 	20.	Liste des 10 principaux clients sur l’exercice avec pourcentage du CA annuel, encours actuel et couvertures d’assurance-crédit 

 

	 	21.	Règlements reçus hors compte dédié sur les clients cédés (liste des clients concernés, liste des règlements et dates de remboursement) le cas
échéant sur l’exercice en cours 

 Pièces et documents sur une sélection de créances : 

 

	 	•	 	Contrat de vente 

  

	 	•	 	Facture 

  

	 	•	 	Bon de commande du client 

  

	 	•	 	Document du transporteur et bon de livraison émargé par le client 

  

	 	•	 	Justificatif de règlement de la facture (bordereau de remise en banque ou avis de crédit ou extrait de compte si virement) 

Pièces et documents sur une sélection d’avoirs : 
  

	 	•	 	Avoir avec motif identifié 

  

	 	•	 	Facture ayant donné lieu à l’avoir 

  

	 	•	 	Pour les avoirs suivis d’une refacturation, refacturation

  
 118 

 SCHEDULE 20. 

LIST OF AIRBUS COMPANIES 

 

					
	 Division
	  	 Airbus Group Entity
	  	Country of
Incorporation
			
	Airbus	  	Airbus SAS	  	France
			
		  	Airbus Operations SAS	  	France
			
		  	Airbus Operations GmbH	  	Germany
			
		  	Airbus Operations SL	  	Spain
			
		  	Airbus Operations Ltd	  	United Kingdom
			
		  	Premium Aerotec GmbH	  	Germany
			
		  	Stelia Aerospace SAS	  	France
			
	Helicopters	  	Airbus Helicopters Deutschland GmbH	  	Germany
			
		  	Airbus Helicopters SAS	  	France
			
		  	Airbus Helicopters UK Ltd	  	United Kingdom
			
		  	Airbus Helicopters Espana SA	  	Spain
			
	Defence & Space        	  	Airbus Military SL	  	Spain
			
		  	Airbus Military UK Ltd	  	United Kingdom
			
		  	Airbus Military France SAS	  	France
			
		  	Airbus Military Deutschland GmbH	  	Germany
			
		  	Airbus Defence & Space SAS	  	France
			
		  	Airbus Defence & Space UK Ltd	  	United Kingdom        
			
		  	Airbus ATR SAS	  	France
			
		  	Elbe Flugzeugwerke GmbH (“EFW”)	  	Germany
			
		  	EADS CASA Espacio SL	  	Spain
			
		  	Compagnie Industrielle des Lasers CILAS SA	  	France
			
		  	MBDA Deutschland GmbH	  	Germany
			
		  	MBDA France SAS	  	France

  
 119 

 SCHEDULE 21. 

FORM OF REXAM FIRST DEMAND GUARANTEE 

  
 120 

 GUARANTEE 

(Garantie Autonome) 

THIS GUARANTEE (the “Guarantee”) is dated             June 2015 and
made by: 
  

	(1)	REXAM BEVERAGE CAN EUROPE LTD, a limited liability company organized and existing under the laws of England, registered under number 2554348 and having its registered office at 100 Capability Green, Luton, LU1
3LG Bedfordshire, United Kingdom (the “Guarantor”); 

 in favour of 

 

	(2)	GE FACTOFRANCE S.A.S., a company incorporated under the laws of France as a société par actions simplifiée and licensed as a credit institution (établissement de
crédit), whose registered office is located at Tour Facto, 18, rue Hoche, 92988 Paris-La Défense Cedex, France, registered with the Trade and Companies Registry of Nanterre under number 063 802 466 (the
“Beneficiary”). 

 BACKGROUND: 
  

	(A)	On [•] November 2011, the Guarantor entered into an English law purchase agreement (the “Purchase Agreement”) with Constellium Issoire SAS (a company incorporated under the laws of France as a
société par actions simplifiée, whose registered office is located at rue Yves Lamourdedieu, Zone Industrielle Les Listes, 63500 Issoire, France, registered with the Trade and Companies Registry of Clermont-Ferrand under
number 672 014 081 “Constellium Issoire”), to which its subsidiary of the Rexam Group of companies, Rexam Beverage Can Egypt (a company organized under the laws of Egypt and having its registered office at 6th October City, 3rd Industrial Zone, Plot 2, Giza, Egypt, “Rexam Egypt”) has acceded. 

 

	(B)	Pursuant to a factoring agreement dated 4 January 2011 (as amended from time to time) and entered into between, inter alios, the Beneficiary as factor, Constellium Holdco II B.V. as parent company, certain
French entities of the Constellium group (including Constellium Issoire) as French sellers, and Constellium Switzerland AG as sellers’ agent, the Beneficiary has agreed to provide a factoring facility to those relevant French entities of the
Constellium group (including Constellium Issoire) by purchasing receivables from them in order to finance their general corporate and working capital needs (the “Factoring Facility”). 

 

	(C)	On 31 March 2015, Constellium Issoire contributed its activities located in Neuf Brisach, France, to its wholly owned subsidiary, Constellium Neuf Brisach SAS (a company incorporated under the laws of France under
the form of a société par actions simplifiée à associé unique, whose registered office is at ZIP Rhénane Nord, RD 52, 68600 Biesheim, France, registered with the trade and commercial registry
(registre du commerce et des sociétés) of Colmar under number 807 641 360”Constellium Neuf Brisach”), which activities included its rights and obligations under the Purchase Agreement and the Factoring Facility. By way
of consequence, Constellium Neuf Brisach formally acceded to the Factoring Facility on 31 March 2015 as a new French seller. 

  

	(D)	Constellium Neuf Brisach is contemplating adding Rexam Egypt as a new debtor to the Factoring Facility in order for the commercial receivables arising or to arise from the Purchase Agreement to be included in the
Factoring Facility. 

  

	(E)	It is a condition precedent to the addition of receivables over Rexam Egypt to the Factoring Facility that the Guarantor execute this autonomous and independent guarantee in favour of the Beneficiary in relation to
invoices issued by Constellium Neuf Brisach to Rexam Egypt under the Purchase Agreement transferred to the Beneficiary between [•] and [•]. (the “Guarantee”). 

 

	(F)	The Guarantor acknowledges that the description of the transactions above is only for explanatory purposes and shall in no way undermine the independence and autonomy of this Guarantee. 

  
 121 

 IT IS AGREED that: 
  

	1.	GUARANTEE PAYABLE ON FIRST DEMAND 

  

	1.1	Undertaking to pay 

  

	 	(a)	In accordance with article 2321 of the French civil code (Code civil) and the terms of this Guarantee, the Guarantor hereby unconditionally and irrevocably undertakes to pay upon first demand of the Beneficiary,
as a primary and independent obligation, any amount (to be expressed in US Dollars (USD)), the “Requested Amount”) set out in any payment request delivered by the Beneficiary to the Guarantor in accordance with Clause 1.2
(Payment Request) below substantially in the form of Schedule 1 (Form of Payment Request) (a “Payment Request”).. Any Payment Request received after the expiry date in Clause 3 (Duration) below shall be
considered null and void. 

  

	 	(b)	For the avoidance of doubt, the maximum liability of the Guarantor hereunder may not exceed [•]dollars (USD [•]), (the “Guarantee Amount”). This Guarantee may be called upon one or several
times. All payments made by the Guarantor under this Guarantee will automatically and proportionately reduce the Guarantee Amount payable under this Guarantee. 

  

	1.2	Payment request 

  

	 	(a)	The obligation of the Guarantor to pay any Requested Amount hereunder is subject to the receipt by the Guarantor of a Payment Request sent by the Beneficiary by registered letter with acknowledgment of receipt
(lettre recommandée avec accusé de réception) requested or fax. 

  

	 	    	A Payment Request shall be deemed received, as applicable, (i) on the date when the relevant letter is presented for the first time to the Guarantor with respect to a registered letter with acknowledgment of
receipt (lettre recommandée avec accusé de réception) or (ii) on the date indicated on the relevant fax transmission confirmation. 

 

	 	(b)	The Beneficiary may deliver any number of Payment Requests as required or necessary to the Guarantor provided that the aggregate amount of the Requested Amounts shall not exceed the Guarantee Amount. 

 

	1.3	Payment 

  

	    	The Guarantor shall pay the Requested Amount in USD within two (2) business days of receipt of the Payment Request to such account as the Beneficiary shall designate in the Payment Request. 

 

	    	A business day means a day (other than a Saturday, Sunday or holiday scheduled by law) on which banks are open for business in London and Paris. 

 

	1.4	Independent obligation 

  

	 	(a)	The obligation of the Guarantor hereunder is autonomous and independent and the Guarantor expressly waives any discounts, grace periods, defences, set-off/off-set rights or counterclaims resulting from or based on any
other agreement. Therefore, this Guarantee shall continue to be in full force and effect notwithstanding termination (for any reason) or amendment of the Purchase Agreement. 

  
 122 

	 	(b)	This Guarantee shall remain in full force and effect notwithstanding any merger, acquisition or de-merger of the Guarantor and/or the Beneficiary. In addition, this Guarantee shall remain in full force and effect and
benefit any successors and assignees of the Beneficiary. 

  

	 	(c)	The Guarantor further waives any right to claim novation or any other legal means of settlement or transfer of obligations as a defence to its obligations hereunder in the event that (these provisions applying
mutatis mutandis to any successor of the Beneficiary): 

  

	 	(i)	the legal form of the Beneficiary is modified; 

  

	 	(ii)	the Beneficiary merges with another entity, even if this merger leads to the creation of a new legal entity; 

  

	 	(iii)	(by way of exception to the last sentence of article 2321 of the French civil code) the Beneficiary transfers its rights or obligations under Factoring Facility to a third party; 

 

	 	(iv)	the Beneficiary transfers its rights or obligations under this Guarantee to a third party. 

  

	 	(d)	The Beneficiary shall not be required to have first exhausted any rights of recourse it may have against the Guarantor or Rexam Egypt. 

 

	 	(e)	This Guarantee shall be in addition to, independent of and is not in any way prejudiced by any other assignment of indemnification rights (for the purposes of the applicable credit insurance policy) or security interest
which the Beneficiary may now or at any time in the future hold or take for or in respect of the Guarantor or Rexam Egypt or its obligations under the Purchase Agreement or the obligations of Constellium Neuf Brisach or the relevant entities of the
Constellium group under the Factoring Facility. 

  

	 	(f)	The Guarantor acknowledges that Rexam Egypt will remain bound to perform all its obligations under the Purchase Agreement other than any payment obligation which has given rise to a payment made by the Guarantor
hereunder, notwithstanding any exercise, attempted exercise or non-exercise of the Beneficiary’s rights hereunder. 

  

	2.	REPRESENTATIONS AND WARRANTIES 

  

	    	The Guarantor represents and warrants to the Beneficiary that: 

  

	 	(a)	the Guarantor is a corporation duly organised and validly existing in good standing under the laws of England and has the corporate power and authority to carry on its business as it is being conducted;

  
 123 

	 	(b)	the Guarantor has the corporate power to enter into and perform, and has taken all necessary corporate action to authorise the entry into, performance and delivery of this Guarantee and this Guarantee will upon
execution by all Parties thereto constitute valid and legally binding and enforceable obligations of the Guarantor; 

  

	 	(c)	the execution and delivery of, the performance of its obligations under, and compliance by the Guarantor with the provisions of, this Guarantee will not (i) , (ii) conflict with, or result in any breach of any
of the terms of, or constitute a default under, any agreement or other instrument to which the Guarantor is a party or is subject or by which it or any of its property is bound, (iii) contravene or conflict with any provision of the
Guarantor’s constitutional documents or (iv) result in the creation or imposition of, or oblige the Guarantor to create, any security interest over its undertaking or any of its assets, rights or revenues; 

 

	 	(d)	the Guarantor is not in a state of insolvency and is not subject to any insolvency proceedings; 

  

	 	(e)	the giving of this Guarantee is of commercial benefit to the Guarantor group of companies and in that group’s commercial interests; 

 

	3.	DURATION 

 This Guarantee shall expire on the date falling nine (9) months after its
signature. After this date, this Guarantee will expire automatically and as of law, without prejudice to the rights of the Beneficiary for any Payment Request received in the period during which this Guarantee was still in force and in accordance
with the terms and conditions of this guarantee. 
 This Guarantee shall lapse upon the Beneficiary granting express written release of this
Guarantee. 
  

	4.	TAXES AND OTHER CHARGES 

  

	 	(a)	All payments to be made by the Guarantor under this Guarantee shall be made free and clear of and without deduction or withholding for on account of tax unless the Guarantor is required by law to make any such payment
subject to any such deduction or withholding, in which case the sum payable by the Guarantor in respect of which such deduction or withholding is required to be made shall be increased to the extent necessary to ensure that, after the making of such
deduction or withholding, the Beneficiary receives and retains (free from any liability in respect of any such deduction or withholding) a net sum equal to the sum which it would have received and so retained had no such deduction or withholding
been made or required to be made. 

  

	 	(b)	All sums payable by the Guarantor under or pursuant to this Guarantee are exclusive of any applicable value added tax. 

  
 124 

	5.	GOVERNING LAW - JURISDICTION 

  

	5.1	Governing law 

 This Guarantee is governed by French law. 

 

	5.2	Jurisdiction 

 The Parties irrevocably agree that any dispute arising out of, relating to
or in connection with this Guarantee shall be brought before the competent courts of the Court of Appeals (Cour d’Appel) of Paris. 
 Executed
in one (1) original on             June 2015. 
  

	
	 [signature]
  

	 Rexam Beverage Can Europe Ltd. (Guarantor)

By:

  
 125 

 FORM OF PAYMENT REQUEST 

[date] 
 BY REGISTERED
MAIL/FAX 
 Rexam Beverage Can Europe Ltd 
 [Note:
full notice details to be provided] 
 Fax: [•] 

For the attention of [            ] 

Dear Sirs 
 Guarantee
(garantie autonome) dated                          2015 

We refer to the guarantee (garantie autonome) dated             June 2015 issued
by Rexam Beverage Can Europe Ltd in favour of GE Factofrance SAS (the “Guarantee”). Terms used therein with a capital letter and not defined in this letter shall have the meaning ascribed to such term in the Guarantee. 

We confirm that Rexam Egypt owes us the following amount [•] (USD [•]), owed on [date] (the “Requested Amount”). 

We therefore hereby request that you pay to us to our account reference
number                             . 

 

	
	Yours faithfully,
	
	   

	GE FACTOFRANCE

  
 126 

 SCHEDULE 22. 

FORM OF LETTER OF WAIVER AND CONSENT

 [Date] 
 TO : GE FACTOFRANCE 

Dear Sirs, 
 We, [•] acknowledge that we are in receipt of
goods specified in various orders (and for which the invoices are specified in the Annex to this letter); 
 We have inspected the goods which are held at
our own risk; they appear to be of satisfactory merchantable quality and fit for purpose. 
 Without prejudice to our rights against Constellium under our
Supply Agreement with Constellium, we can confirm that as of today’s date, we are not aware of any grounds for bringing any claim against Constellium and you, GE Factofrance SAS, in relation to the quality of such goods. We further acknowledge
that the receivables arising from the invoices specified in the Annex to this letter will be assigned to you by Constellium and as a result irrevocably confirm that we will pay an amount of USD [•]; and Euro [•], related to such invoices,
in full without set off, deduction or counterclaim on Constellium into collection accounts n° FR76 [•] with [for the payment of Euro [•]); and n° FR76 [•] with [for the payment of USD[•]), in each case, by no later than
[•]. 
 This letter is governed by English law and the court of England have exclusive jurisdiction to settle any dispute arising out of or in
connection with this letter. 
 Executed in [•], on [•], in one original. 

 
 Rexam Egypt 

By: [•] 

  
 4 

 Annex 

  
 5 

 SIGNATORIES 

Made in Paris on 3 December 2015, 
 In 6 originals 

 

					
	 CONSTELLIUM HOLDCO II B.V.
 as Parent
Company
	  	             
	  	 CONSTELLIUM NEUF BRISACH
 as
Seller

			
	 /s/ Mark Kirkland
	  		  	 /s/ Mark Kirkland

	 By : Mark KIRKLAND
 Capacity :
Attorney
	  		  	 By: Mark KIRKLAND
 Capacity:
Attorney

			
	 CONSTELLIUM ISSOIRE
 as
Seller
	  		  	 CONSTELLIUM EXTRUSIONS FRANCE
 as
Seller

			
	 /s/ Mark Kirkland
	  		  	 /s/ Mark Kirkland

	 By : Mark KIRKLAND
 Capacity :
Attorney
	  		  	 By : Mark KIRKLAND
 Capacity :
Attorney

			
	 CONSTELLIUM SWITZERLAND AG
 as
Seller
	  		  	 GE FACTOFRANCE
 as
Factor

			
	 /s/ Mark Kirkland
	  		  	 /s/ J.M. Morin

	 By : Mark KIRKLAND
 Capacity :
Attorney
	  		  	 By: J.M. Morin
 Capacity: DG
Delegue

  
 1EX-10.13

 Exhibit 10.13 
  

			
	Execution Version	  	26 March 2014

  
 GE CAPITAL BANK AG 

HEINRICH-VON-BRENTANO-STR. 2, 55130 MAINZ, GERMANY 

AND 
 CONSTELLIUM SINGEN GMBH 

ALUSINGEN-PLATZ 1, 78224 SINGEN GERMANY 
  

 
 FACTORING
AGREEMENT / 
 FACTORINGVERTRAG 
  

 

  
 - 1 - 

			
	Execution Version	  	26 March 2014

  

							
	TABLE OF CONTENT	 	INHALTSVERZEICHNIS
				
	I.      	  	CLAUSES	 	I.      	  	KLAUSELN
				
	A.     	  	Purchase of Receivables	 	A.     	  	Forderungskauf
				
	1.      	  	Purpose of this Agreement	 	1.      	  	Zweck dieses Vertrages
	2.      	  	Receivables Purchase Agreement, Offer Letter	 	2.      	  	Forderungskaufvertrag, Forderungsanzeige
	3.      	  	Obligation to Purchase	 	3.      	  	Ankaufspflicht
	4.      	  	Purchase Price, Due Date, Reserves, Factoring Commission, Total Financing Commission	 	4.      	  	Kaufpreis, Fälligkeit, Einbehalte, Factoringgebühr, Gesamtfinanzierungsgbühr
	5.      	  	Guarantee of Dilution Risk, Obligations of the ORIGINATOR regarding Receivables	 	5.      	  	Veritätsgarantie, Pflichten des KUNDEN in Bezug auf die Forderungen
	6.      	  	Bad Debt Coverage of GE CAPITAL	 	6.      	  	Delkrederehaftung von GE CAPITAL
	7.      	  	Debtor Limit, Discretionary Debtor Limit	 	7.      	  	Abnehmerlimit, Abnehmerlimitselbstvergabe
	8.      	  	Non-Purchased Receivables, Set-Off Right, Administration Fee	 	8.      	  	Nicht angekaufte Forderungen, Verrechnungsbefugnis, Verwaltungsgebühr
				
	B.     	  	Assignment and Security	 	B.     	  	Abtretung und Sicherungsrechte
				
	9.      	  	Assignment of Receivables, Legal Cause	 	9.      	  	Abtretung der Forderungen, Rechtsgrund
	10.    	  	Cheques, Direct Debit, Bills of Exchange	 	10.    	  	Schecks, Lastschriften, Wechsel
	11.    	  	Liens and Ancillary Rights, Insurance Claims	 	11.    	  	Sicherungs- und Nebenrechte, Versicherungsansprüche
				
	C.     	  	Factoring Procedure	 	C.     	  	Factoring-Verfahren
				
	12     	  	Full-Service, Inter-Credit®, Smart-Service	 	12.    	  	Full-Service, Inter-Credit®, Smart-Service
	13.    	  	Disclosed/Undisclosed Procedure	 	13.    	  	Offenes / Stilles Verfahren
	14.    	  	Change of Procedure by Partial Termination	 	14.    	  	Verfahrenswechsel durch Teilkündigung
	15.    	  	Quarterly Account Statement, Tacit Ratification, Time Limit for Objections	 	15.    	  	Quartalsabschluss, Genehmigung durch Schweigen, Frist für Einwendungen
	16.    	  	Collection Procedure	 	16.    	  	Inkassoverfahren
				
	D.     	  	General Obligations	 	D.     	  	Allgemeine Vertragspflichten
				
	17.    	  	Negative Pledge	 	17.    	  	Keine anderweitigen Verfügungen
	18.    	  	Increased Fiduciary Duty and Duty of Care	 	18.    	  	Erhöhte Treue- und Schutzpflicht
	19.    	  	Information Undertaking	 	19.    	  	Informationserteilung
	20.    	  	External Audit, Declaration of Consent	 	20.    	  	Außenprüfung, Einwilligungserklärung

  
 - 2 - 

			
	Execution Version	  	26 March 2014

  

			
	 21.    Arrangements in Debtor Agreements
	  	 21.    Vertragsgestaltung gegenüber Abnehmern

		
	 E.     Other Terms
	  	 E.     Sonstige Regelungen

		
	 22.    Set-Off, Settlement, Reimbursement Claims
	  	 22.    Aufrechnung, Verrechnung,
Rückvergütungsansprüche

	 23.    Changes in Financing Commission per Invoice
	  	 23.    Änderungen der Finanzierungsgebühr auf

	 24.    Fees and Expenses
	  	 Einzelrechnungsbasis

	 25.    Assignability of Claims against GE CAPITAL
	  	 24.    Entgelte und Auslagen

	 26.    Commencement Date, Expiration, Termination
	  	 25.    Abtretbarkeit der Ansprüche gegen GE CAPITAL

	 27.    Further Elements of this Agreement
	  	 26.    Vertragsbeginn, Vertragsende, Kündigung

	 28.    Governing Law, Jurisdiction
	  	 27.    Weitere Vertragsbestandteile

	 29.    Severability Clause
	  	 28.    Maßgebliches Recht, Gerichtsstand

		  	 29.    Salvatorische Klausel

		
	 F.     Definitions
	  	 F.     Definitionen

		
	 II.     SCHEDULES
	  	 II.     ANHÄNGE

		
	 Schedule 1 (Terms and Conditions)
	  	 Anhang 1 (Konditionen)

	 Schedule 1a (Excluded Debtors)
	  	 Anhang 1a (Ausgenommene Abnehmer)

	 Schedule 1b (Approved Jurisdictions)
	  	 Anhang 1b (Zugelassene Gerichtsstände)

	 Schedule 2 (Declaration of Consent)
	  	 Anhang 2 (Einwilligungserklärung)

	 Schedule 3 (Condition Precedents)
	  	 Anhang 3 Aufschiebende Bedingungen)

		
	 III.   ANNEXES
	  	 III.   ANLAGEN

	 Annex 1 Transfer of French Receivables
	  	 Anlage 1 Übertragung französischer Forderungen

	 Annex 2 Form of Offer Letter
	  	 Anlage 2 Formular für Forderungsanzeige

	 Annex 3 Trade Credit Insurance Agreement
	  	 Anlage 3 Warenkreditversicherung-vertrag

	 Annex 4 Assignment Agreement on Trade Insurance
	  	 Anlage 4 Warenkreditversicherung- sabtretungsvertrag

	 Annex 5 Account Pledge Agreement
	  	 Anlage 5 Kontoverpfändungsvertrag

  

			
	Note: Terms in italics have the meaning ascribed to them in part F (Definitions).	  	Hinweis: Kursiv gedruckte Begriffe haben die in diesem Vertrag näher erläuterte besondere Bedeutung, die sich aus Teil F (Definitionen) ergeben.

  
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	A. PURCHASE OF RECEIVABLES	  	A. FORDERUNGSKAUF
		
	1. PURPOSE OF THIS AGREEMENT	  	1. ZWECK DIESES VERTRAGES
		
	1.1 This agreement shall be the basis for receivables purchase agreements entered into by the ORIGINATOR as seller and GE CAPITAL as purchaser of the relevant Receivable.	  	1.1. Dieser Vertrag schafft die Grundlage für Forderungskaufverträge, die zwischen dem KUNDEN als Verkäufer und GE CAPITAL als Käufer der jeweiligen Forderung eingegangen werden.
		
	1.2 Any amounts paid as purchase price for the Receivables purchased by GE CAPITAL shall enable the ORIGINATOR to primarily satisfy its obligations vis-à-vis its suppliers.	  	1.2 Alle Beträge, die als Kaufpreis für die von GE CAPITAL gekauften Forderungen bezahlt werden, sollen den KUNDEN in die Lage versetzen, vorrangig ihre Lieferantenverbindlichkeiten erfüllen zu
können.
		
	1.3 To the extent that GE CAPITAL does not purchase certain Receivables of the ORIGINATOR, such Receivables shall be assigned to GE CAPITAL subject to Clause 9.3 in order to secure claims of GE CAPITAL against
the ORIGINATOR resulting from the business relationship and shall be collected by GE CAPITAL.	  	1.3 Soweit GE CAPITAL bestimmte Forderungen des KUNDEN nicht kauft, sind diese vorbehaltlich Ziffer 9.3 zur Sicherung von Ansprüchen von GE CAPITAL gegen den KUNDEN abzutreten, die aus der Geschäftsbeziehung
herrühren und von GE CAPITAL eingezogen werden.
		
	2. RECEIVABLES PURCHASE AGREEMENT, OFFER LETTER	  	2. FORDERUNGSKAUFVERTRAG, FORDERUNGSANZEIGE
		
	2.1 The ORIGINATOR hereby offers to sell all of its Receivables to GE CAPITAL.	  	2.1 Hierdurch bietet der KUNDE seine sämtlichen Forderungen GE CAPITAL zum Kauf an.
		
	The ORIGINATOR repeats each offer in respect of each individual Receivable by sending an Offer Letter to GE CAPITAL, in the form substantially set out in Annex 2 (Form of Offer Letter).	  	Der KUNDE wiederholt jedes Angebot in Bezug auf jede einzelne Forderung durch Übersendung einer Forderungsanzeige an GE CAPITAL, die im Wesentlichen der Form der Anlage 2 (Formular für
Forderungsanzeigen) entspricht.
		
	2.2	  	2.2
		
	(a) German Law Receivables	  	(a) Forderungen, die deutschem Recht unterliegen

  
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	Each relevant receivables purchase agreement shall be concluded by GE CAPITAL’s acceptance of the ORIGINATOR’s offer.	  	Der jeweilige Forderungskaufvertrag kommt dadurch zustande, dass GE CAPITAL das Kaufangebot des KUNDEN annimmt.
		
	Acceptance occurs by booking the relevant Receivable on the Factoring Account, provided that the ORIGINATOR does not need to receive a notice of such book entry.	  	Die Annahme erfolgt durch Buchung der jeweiligen Forderung auf dem Factoringkonto, ohne dass dem Kunden eine Buchungsmitteilung zugehen muss.
		
	(b) French Law Receivables	  	(b) Forderungen, die französischem Recht unterliegen
		
	Notwithstanding the provisions set out in this clause 2 (Receivables Purchase Agreement, Offer Letter) with respect to the Receivables governed by German law, title to the Receivables governed by French
law shall be transferred to GE CAPITAL in accordance with the provisions set out in Annex 1 (Transfer of French Receivables).	  	Ungeachtet der in dieser Ziffer 2 (Forderungskaufvertrag, Forderungsanzeige) enthaltenen Bestimmungen im Hinblick auf die Forderungen, die dem deutschen Recht unterliegen, wird die Berechtigung für die
Forderungen, die dem französischen Recht unterliegen, gemäß den Bestimmungen in Anlage 1 (Übertragung französischer Forderungen) an GE CAPITAL übertragen.
		
	(c) English law Receivables	  	(c) Forderungen, die englischem Recht unterliegen
		
	Notwithstanding the provisions set out in clause 2 (Receivables Purchase Agreement, Offer Letter) with respect to the Receivables governed by German law, title to the Receivables governed by English law
shall be transferred to GE CAPITAL in accordance with this Clause 2.2 (c):	  	Ungeachtet der in dieser Ziffer 2 (Forderungskaufvertrag, Forderungsanzeige) enthaltenen Bestimmungen im Hinblick auf die Forderungen, die deutschen Recht unterliegen, wird die Berechtigung für die Forderungen, die dem
englischen Recht unterliegen, gemäß den Bestimmungen dieser Ziffer 2.2 (c) an GE CAPITAL übertragen:
		
	The ORIGINATOR will by the process of offer and acceptance set out in this Agreement sell and otherwise assign, transfer and convey to GE CAPITAL, and GE CAPITAL shall purchase and otherwise acquire, all of the
ORIGINATOR’s present and future right, title and interest in, to the Receivables which are governed by English law.	  	Der Kunde wird gemäß des in diesem Vertrag beschriebenen Prozess des Angebots und der Annahme all seine gegenwärtigen und 3 zukünftigen Rechte, Berechtigungen und Interessen an den Forderungen, die englischem
Recht unterliegen, entweder an GE CAPITAL verkaufen oder aber abtreten, übertragen oder übereignen und GE CAPITAL wird diese kaufen oder anders erwerben.
		
	This Clause (c) shall be governed by English law.	  	Diese Klausel 2.2 (c) unterliegt englischem Recht.

  
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	(d) Swiss law Receivables	  	(d) Forderungen, die dem Recht der Schweiz unterliegen
		
	GE CAPITAL and the ORIGINATOR agree that, both the transfer of title to such Receivables and the assignment of such Receivables which are governed by Swiss law, shall be effected in the way as set out in this clause 2
(Receivables Purchase Agreement, Offer Letter), but shall be governed by Swiss law.	  	GE CAPITAL und der KUNDE vereinbaren, dass die Rechtsübertragung und die Abtretung von Forderungen, die dem Schweizer Recht unterliegen, in einer Weise erfolgen, wie diese Ziffer 2 (Forderungskaufvertrag,
Forderungsanzeige) es bestimmt; sie unterliegen aber dem Recht der Schweiz.
		
	2.3 The ORIGINATOR is entitled and obliged to send an Offer Letter to GE CAPITAL within 10 Business Days after having dispatched the invoice to the relevant Debtor and the Receivable
becoming Eligible.	  	2.3 Der KUNDE ist berechtigt und verpflichtet, innerhalb von 10 Geschäftstagen nachdem er die Rechnung an den jeweiligen Abnehmer abgesandt hat und die Forderung einwandfrei geworden ist, eine
Forderungsanzeige an GE CAPITAL zu übersenden.
		
	The ORIGINATOR shall provide GE CAPITAL with separate Offer Letters for each jurisdiction governing the respective Receivables and additionally with a separate Offer Letter for each currency in which a
Receivable for each particular jurisdiction may be denominated, or an Offer Letter consolidating several jurisdictions, provided such consolidated Offer Letter will clearly state and differentiate the different Receivables under the
several jurisdictions.	  	Der KUNDE stellt GE CAPITAL separate Forderungsanzeigen für jede für die jeweilige Forderung maßgebliche Jurisdiktion und außerdem separate Forderungsanzeigen für jede Währung, in
der eine Forderung für jede einzelne Jurisdiktion lautet, oder eine Forderungsanzeige, die verschiedene Jurisdiktionen abdeckt zur Verfügung, vorausgesetzt, dass eine solche konsolidierte Forderungsanzeige die
Forderungen eindeutig angibt und zwischen den verschiedenen Forderungen unter den einzelnen Jurisdiktionen unterscheidet.
		
	2.4 The ORIGINATOR is obliged to submit the Offer Letter by data transfer in accordance with Factoring-Satzaufbau or online data entry in Factorlink.	  	2.4 Der KUNDE ist verpflichtet die Forderungsanzeige durch Datenübertragung gemäß Factoring-Satzaufbau oder durch Online- Dateneingabe in Factorlink vorzunehmen.
		
	In addition, the ORIGINATOR is obliged to send to GE CAPITAL a submission form, together with the relevant copies – preferably in the form of a pdf-file or in similar format – of invoices, credit notes and debit
notes.	  	Zusätzlich ist der KUNDE verpflichtet, GE CAPITAL ein Formular zusammen mit den jeweiligen Kopien von Rechnungen, Gutschriften und Belastungsanzeigen – vorzugsweise im PDF oder einem ähnlichen Format – zu
übersenden.

  
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	GE CAPITAL hereby waives its rights to receive copies of invoices, debit notes and credit notes in hard copy form from the ORIGINATOR, but may revoke such waiver in writing at any time. The ORIGINATOR hereby undertakes to keep and
store all invoices, debit notes and credit notes in accordance with applicable laws and regulations and agrees to submit such invoices, debit notes and credit notes to GE CAPITAL in due course upon request.	  	GE CAPITAL verzichtet hiermit auf sein Recht, Kopien von Rechnungen, Belastungs-und Gutschriftsanzeigen in gedrucktem Format vom KUNDEN zu erhalten, kann diesen Verzicht jedoch jederzeit schriftlich widerrufen. Der KUNDE
verpflichtet sich hiermit, alle Rechnungen, Belastungs-und Gutschriftsanzeigen gemäß den geltenden Vorschriften aufzuheben und aufzubewahren und ist damit einverstanden, diese Rechnungen, Belastungs- und Gutschriftsanzeigen GE CAPITAL zu
gegebener Zeit auf Anfrage zur Verfügung zu stellen.
		
	3. OBLIGATION TO PURCHASE	  	3. ANKAUFSPFLICHT
		
	3.1 GE CAPITAL shall accept the ORIGINATOR’s offer to sell a Receivable if the relevant Receivable fulfils the following requirements:	  	3.1 GE CAPITAL verpflichtet sich, das Verkaufsangebot des KUNDEN anzunehmen, wenn die jeweilige Forderung folgenden Anforderungen entspricht:
		
	(a) the Offer Letter is correct and complete and was dispatched by the ORIGINATOR within the time line set out in clause 2.3; and 	  	(a) die Forderungsanzeige ist richtig und vollständig und wurde rechtzeitig im Sinne von Ziffer 2.3 vom KUNDEN versandt; und
		
	(b) the relevant Receivable is Eligible; and	  	(b) die jeweilige Forderung besteht einwandfrei; und
		
	(c) the Debtor has been granted a payment term not exceeding 90 days after the relevant invoice date and, for the avoidance of doubt, the remaining outstanding payment term does not exceed 90 days; and	  	(c) dem Abnehmer wurde ein Zahlungsziel eingeräumt, welches nicht mehr als 90 Tage nach dem jeweiligen Rechnungsdatum liegt und, um Zweifel auszuschließen, das ausstehende Zahlungsziel ist nicht länger als 90
Tage; und
		
	(d) the relevant Receivable is not a claim against an Affiliated Company; and	  	(d) es handelt sich nicht um eine Forderung gegen ein Nahestehendes Unternehmen; und
		
	(e) the relevant Receivable is within the scope of the Debtor Limit. To the extent that this requirement is only partially fulfilled, GE CAPITAL shall purchase the relevant part of the Receivable; and	  	(e) die jeweilige Forderung liegt im Rahmen des Abnehmerlimits. Soweit dies nur teilweise der Fall ist, soll GE CAPITAL den jeweiligen Forderungsteil ankaufen; und

  
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	(f) the sum of the amount of the relevant Receivable and all other purchased and unpaid Receivables against the relevant Debtor or debtor credit unit – within the meaning of § 19 of the German Banking
Act – does not exceed 30% of all purchased and unpaid Receivables of the ORIGINATOR against all of his Debtors; and	  	(f) die Summe der Beträge aus der jeweiligen Forderung und allen sonstigen gekauften und unbezahlten Forderungen gegen den jeweiligen Abnehmer bzw. Die Abnehmerkrediteinheit – im Sinne des § 19
Kreditwesengesetz – überschreitet nicht 30% aller gekauften und unbezahlten Forderungen vom KUNDEN gegen alle seine Abnehmer; und
		
	(g) each Receivable shall be governed by German law or by Swiss, French or English law (and in each case, subject to confirmation by a legal opinion of a reputable local law firm of the validity and enforceability
vis-à-vis third parties of the purchase and assignment of the relevant receivables) and GE Capital hereby confirms that the legal opinions as to Swiss, French, English law each dated on the date of this Agreement have been delivered in
satisfactory form. The ORIGINATOR and GE CAPITAL may agree upon the ORIGINATOR’s request and GE CAPITAL’s written confirmation to include Receivables governed by any other law, (i) subject to credit approval by GE CAPITAL, and
(ii) subject to confirmation by a legal opinion of a reputable local law firm of the validity and enforceability vis-à-vis third parties of the purchase and assignment of the relevant receivables, (iii) conclusion of a country
specific supplement for such jurisdiction, and (iv) provided that no approval will be given when the total outstanding amount of receivables concerned by such law is less than 1,000,000 (one million) Euro); and	  	(g) jede Forderung unterliegt dem deutschen Recht oder dem Schweizer, französischen oder englischen Recht (und jeweils vorbehaltlich der Bestätigung der Gültigkeit und Durchsetzbarkeit gegenüber Dritten
des Kaufs und der Abtretung der jeweiligen durch ein Rechtsgutachten einer renommierten lokalen Anwaltskanzlei) und GE Capital bestätigt hiermit, dass die Rechtsgutachten im Hinblick auf Schweizer, französisches, englisches Recht, jeweils
datierend auf das Datum dieses Vertrages, in ordnungsgemäßer Form abgeliefert wurden. Der KUNDE und GE CAPITAL können auf Anfrage des Kunden und nach schriftlicher Bestätigung vereinbaren, Forderungen die einem anderen Recht
unterliegen, (i) vorbehaltlich der Kreditzusage durch GE CAPITAL, und (ii) vorbehaltlich Bestätigung der Gültigkeit und Durchsetzbarkeit gegenüber Dritten des Kaufs und der Abtretung der jeweiligen Forderung durch ein
Rechtsgutachten einer renommierten lokalen Anwaltskanzlei, (iii) Abschluss einer länderspezifischen Ergänzung für die Jurisdiktion, und (iv) unter der Voraussetzung, dass keine Zusage gegeben wird, wenn der gesamte ausstehende Betrag
der Forderungen, der ein solches Recht betrifft, weniger als 1.000.000 (eine Millionen) Euro beträgt; und
		
	(h) the payment of the purchase price in respect of the purchased Receivable will not result in an excess of the Maximum Commitment; and	  	(h) die Bezahlung des Kaufpreises in Bezug auf die gekaufte Forderung wird das Höchstobligo nicht überschreiten; und 
		
	(i) each Receivable shall result from the sale of products and related provision of services in the ordinary course of the ORIGINATOR’s business; and	  	(i) jede Forderung stammt aus dem Verkauf von Produkten und damit verbundenen Dienstleistungen im gewöhnlichen Geschäftsgang des KUNDEN; und

  
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	(j) each Receivable shall be denominated in Euro, US Dollar, GBP or Swiss Franc. The ORIGINATOR and GE CAPITAL may agree to include Receivables denominated in any other currency, subject to prior approval by GE
CAPITAL; and	  	(j) jede Forderung ist in Euro, US Dollar, GBP oder Schweizer Franken. Der KUNDE und GE CAPITAL können, nach vorheriger Einwilligung durch GE CAPITAL, zusätzlich jede andere Währung vereinbaren;
und
		
	(k) no Receivable shall arise from the context of contracts, where payment, even after unconditional acceptance, is subject to verifying the performance of an obligation by the ORIGINATOR; and	  	(k) keine Forderung stammt aus Verträgen, bei denen eine Zahlung, auch nach unbedingter Akzeptanz, der Überprüfung der Erfüllung einer Verpflichtung durch den KUNDEN unterliegt; und
		
	(l) except for the Receivables deriving from contractual relationships with debtors that include tolling and/or pseudo tolling (Materialbeistellung) transactions (such receivables being subject to the application of
clause 22.5 (Reimbursement Claims)), no Receivable shall be subject to a right of set-off or counterclaim that has been exercised by the relevant Debtor.	  	(l) mit Ausnahme von Forderungen, die sich aus vertraglichen Beziehungen mit Abnehmern, eingeschlossen Materialbeistellungstransaktionen (solche Forderungen unterliegen der Anwendung der Ziffer 22.5
(Rückvergütungsansprüche)), ergeben, sind keine Forderungen Gegenstand einer Abtretung oder eines Gegenanspruchs, die/der durch den jeweiligen Abnehmer ausgeübt wurde.
		
	3.2 GE CAPITAL shall become obliged to purchase a Receivable if a Receivable that was initially not purchased subsequently fulfils the requirements set out in clause 3.1.	  	3.2 GE CAPITAL wird ankaufspflichtig, wenn eine Forderung, die zunächst nicht gekauft wird, später den Anforderungen der Ziffer 3.1 entspricht.
		
	3.3 GE CAPITAL will cease to be obliged to purchase any Receivable if based on the facts available to it, GE CAPITAL substantiates that it has reason to believe that the ORIGINATOR does not comply with its obligations
vis-à-vis Retaining Suppliers or that Retaining Suppliers revoke the authorisation of the ORIGINATOR to collect Receivables. GE CAPITAL shall inform the ORIGINATOR of such suspension of the obligation to purchase
Receivables in due course, and if possible, consult with the ORIGINATOR in advance.	  	3.3 Die Ankaufspflicht von GE CAPITAL entfällt, wenn GE CAPITAL aufgrund von Tatsachen, die GE CAPITAL vorliegen, belegt, dass GE CAPITAL Grund zur Annahme hat, dass der KUNDE seinen Zahlungsverpflichtungen
gegenüber Vorbehaltslieferanten nicht nachkommt oder Vorbehaltslieferanten die Berechtigung vom KUNDEN zum Forderungseinzug widerrufen. GE CAPITAL informiert den KUNDEN vom Wegfall der Verpflichtung zum Kauf von
Forderungen in angemessener Zeit, und unterrichtet den KUNDEN, wenn möglich, im Voraus.

  
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	3.4 GE CAPITAL is entitled but not obliged to purchase Receivables which do not fulfil the requirements set out in clause 3.1. In relation to Receivables existing on the Commencement Date, GE
CAPITAL will only exercise such right in respect of Receivables which have not been due for more than 60 days.	  	3.4 GE CAPITAL ist berechtigt, jedoch nicht verpflichtet, Forderungen anzukaufen, die den Anforderungen der Ziffer 3.1 nicht entsprechen. Für Forderungen, die zu Vertragsbeginn bestehen, wird GE
CAPITAL von diesem Recht nur im Hinblick auf solche Forderungen Gebrauch machen, die nicht länger als 60 Tage fällig sind.
		
	3.5 GE CAPITAL will, upon receipt of the relevant Offer Letter, book all Receivables which have not been purchased to the Special Account. Such Receivables shall remain offered for sale.	  	3.5 GE CAPITAL bucht Forderungen, die nicht angekauft wurden, nach Zugang der jeweiligen Forderungsanzeige auf dem Sonderkonto. Solche Forderungen bleiben weiterhin zum Kauf angeboten.
		
	3.6 The ORIGINATOR’s offer expires only after a period of 10 Business Days set by the ORIGINATOR for GE CAPITAL’s acceptance of such offer has lapsed to no avail.	  	3.6 Das Kaufangebot des KUNDEN erlischt erst nach erfolglosem Ablauf einer vom KUNDEN gesetzten Frist von 10 Geschäftstagen, in der GE CAPITAL das Kaufangebot annehmen kann.
		
	4. PURCHASE PRICE, DUE DATE, RESERVES, FACTORING COMMISSION, TOTAL FINANCING COMMISSION	  	4. KAUFPREIS, FÄLLIGKEIT, EINBEHALTE, FACTORINGGEBÜHR, FINANZIERUNGSGEBÜHR
		
	4.1 The purchase price for each purchased Receivable shall be equal to its Nominal Amount, reduced by deductions relating to the relevant Receivable (such as discounts) that were granted to the relevant
Debtor by the ORIGINATOR, less the Factoring Commission and the Financing Commission per Invoice.	  	4.1 Der Kaufpreis für jede angekaufte Forderung entspricht ihrem Nominalbetrag, gemindert um Abzüge auf die jeweiligen Forderungen (z.B. Nachlasse), die dem jeweiligen Abnehmer durch den
KUNDEN gewährt werden, abzüglich der Factoringgebühr und der Finanzierungsgebühr auf Einzelrechnungsbasis.
		
	In the Bad Debt Case, the purchase price is reduced by the VAT amount included in the Receivable which the ORIGINATOR must claim from the tax authorities (see clause 6.4), at the time the legal prerequisites allowing a
recovery of such VAT amounts are fulfilled. GE CAPITAL undertakes to provide the ORIGINATOR with all information and documents necessary for claiming such VAT amounts from tax authorities.	  	Der Kaufpreis mindert sich im Delkrederefall um die in der Forderung enthaltene Umsatzsteuer, die der KUNDE in dem Zeitpunkt von den Finanzämtern zurückfordern muss (siehe Ziffer 6.4), in dem die
rechtlichen Voraussetzungen für die Rückforderung der Umsatzsteuer vorliegen. GE CAPITAL verpflichtet sich, dem KUNDEN alle Informationen und Dokumente zur Verfügung zu stellen, die für die Rückforderung dieser
Umsatzsteuerbeträge von den Finanzämtern erforderlich sind.

  
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	The purchase price (excluding the Purchase Price Reserve and subject to the settlement of the Total Financing Commission) shall fall due when the Receivable is purchased. The Total Financing Commission is
paid in advance on each Funding Date for each relevant Adjusted Expected Funding Period per Invoice starting on that date and is subject to applicable VAT and cannot be altered for that relevant Adjusted Expected Funding Period per
Invoice after the Funding Date on which it has started.	  	Der Kaufpreis wird bis auf den Kaufpreiseinbehalt und vorbehaltlich der Abrechnung der Gesamtinanzierungsgebühr mit dem Forderungskauf fällig. Die Gesamtfinanzierungsgebühr wird zuzüglich
Umsatzsteuern vorab an jedem Finanzierungstag für jede Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis bezahlt, die an dem Tag beginnt und kann für die jeweilige Angepasste Erwartete Finanzierungsperiode
auf Einzelrechnungsbasis nach dem Finanzierungstag an dem sie begonnen hat nicht mehr verändert werden.
		
	Any payments in respect of the purchase price and any charges are made by book entry by GE CAPITAL on the Settlement Account.	  	Sämtliche Zahlungen in Bezug auf den Kaufpreis und alle Gebühren erfolgen durch Buchung auf dem Kundenabrechnungskonto durch GE CAPITAL.
		
	4.2 The Purchase Price Reserve shall fall due for payment by GE CAPITAL to the ORIGINATOR if and when	  	4.2 Der Kaufpreiseinbehalt wird zur Zahlung von GE CAPITAL an den KUNDEN fällig, wenn
		
	(i) the Debtor has fully paid the relevant Receivable to GE CAPITAL, but in the Inter-Credit®-Factoring procedure, only after the Reconciliation
Process, or	  	(i) der Abnehmer die jeweilige Forderung an GE CAPITAL bezahlt hat; im Rahmen des Inter-Credit®-Factoring jedoch nur nach dem Stülpvorgang,
oder
		
	(ii) it falls due as a Bad Debt Amount (see clause 6.3).	  	(ii) wenn der Delkrederebetrag fällig ist (siehe Ziffer 6.3).
		
	If the Debtor makes deductions which are less than the Purchase Price Reserve for the relevant Receivable, the Purchase Price Reserve (reduced by such deductions) will be credited to the
Settlement Account. If the deductions exceed the Purchase Price Reserve, the Settlement Account will be debited accordingly.	  	Wenn der Abnehmer Abzüge vornimmt, die weniger als den Kaufpreiseinbehalt für die jeweilige Forderung ausmachen, wird der Kaufpreiseinbehalt (reduziert um die Abzüge) dem
Kundenabrechnungskonto gutgeschrieben. Wenn die Abzüge den Kaufpreiseinbehalt übersteigen, wird das Kundenabrechnungskonto entsprechend belastet.
		
	4.3 GE CAPITAL shall be entitled to increase the Purchase Price Reserve beyond the agreed amount if and to the extent that GE CAPITAL, based on the facts available to it, substantiates that it has reason to believe
that	  	4.3 GE CAPITAL ist berechtigt, den Kaufpreiseinbehalt über die vereinbarte Höhe hinaus anzuheben, wenn und soweit für GE CAPITAL Tatsachen vorliegen, welche die Annahme rechtfertigen, dass

  
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	 (a) the ORIGINATOR will not comply with material obligations vis-à-vis GE CAPITAL, in particular because the ORIGINATOR has suffered a
financial collapse or such an event is imminent or
	  	(a) der KUNDE wesentlichen Verpflichtungen gegenüber GE CAPITAL nicht nachkommen wird, insbesondere weil er in Vermögensverfall geraten ist oder ein solcher droht, oder
		
	(b) the Purchase Price Reserve is not sufficient to adequately cover invoice reductions by Debtors and credit notes of the ORIGINATOR, whereas for purposes of this clause 4.3 (b) such increase shall be based on the
Dilution Rate.	  	(b) der Kaufpreiseinbehalt nicht ausreicht, um die vom Abnehmer vorgenommenen Kürzungen und Gutschriften des KUNDEN zu decken, wobei die Kürzung zu Zwecken dieser Ziffer 4.3 auf der Dilutionsrate
basiert.
		
	GE CAPITAL shall inform the ORIGINATOR of such increase of Purchase Price Reserve in due course, and if possible, consult with the ORIGINATOR in advance.	  	GE CAPITAL informiert den KUNDEN von der Erhöhung des Kaufpreiseinbehalt in angemessener Zeit, und berät sich wenn möglich mit dem KUNDEN im Voraus.
		
	4.4 In the event of a Notification of Dispute, GE CAPITAL shall, until this matter is settled, be entitled to set aside a Special Purchase Price Reserve and to debit the Settlement Account
accordingly.	  	4.4 Im Falle einer Reklamationsanzeige ist GE CAPITAL, solange diese Angelegenheit nicht geklärt ist, berechtigt, einen Sonderkaufpreiseinbehalt zu bilden und damit das Kundenabrechnungskonto
zu belasten.
		
	GE CAPITAL will credit the Special Purchase Price Reserve to the Settlement Account again if and to the extent that it has been established by final and non-appealable judgement, or the Debtor has acknowledged,
or the ORIGINATOR has provided evidence, that the relevant Receivable is Eligible. If and to the extent that it is established by final and nonappealable judgement that the relevant Receivable is not Eligible, GE CAPITAL
will exercise its rights pursuant to clause 5.1 and will cancel such Receivable as uncollectible from the books in the relevant amount.	  	GE CAPITAL wird den Sonderkaufpreiseinbehalt dem Kundenabrechnungskonto wieder gutschreiben, wenn und soweit rechtskräftig festgestellt oder vom Abnehmer anerkannt oder vom KUNDEN nachgewiesen wird, dass
die Forderung einwandfrei ist. Wenn und soweit rechtskräftig festgestellt ist, dass die jeweilige Forderung nicht einwandfrei ist, kann GE CAPITAL die Rechte gemäß Ziffer 5.1 geltend machen und die
Forderungen in der jeweiligen Höhe als uneinziehbar ausbuchen.
		
	4.5 To the extent that GE CAPITAL is liable for VAT contained in the relevant Receivable because the ORIGINATOR did not pay, or not fully pay VAT when due, GE CAPITAL may pay an amount equal to such liability to the
tax authorities.	  	4.5 Soweit GE CAPITAL für die in der jeweiligen Forderung enthaltene Umsatzsteuer haftet, weil der KUNDE sie bei Fälligkeit nicht oder nicht vollständig entrichtet hat, kann GE CAPITAL einen seiner
Haftung entsprechenden Betrag an das Finanzamt abführen.

  
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	Such payment shall be deemed to be a payment in respect of the purchase price for the relevant Receivable by GE CAPITAL to the ORIGINATOR.	  	Dies wird als Zahlung der jeweiligen Forderung von GE CAPITAL an den KUNDEN auf den Kaufpreis behandelt.
		
	If such a liability is imminent, GE CAPITAL is entitled to establish a reserve in such amount until the matter of liability has been resolved.	  	Droht eine solche Haftung, so kann GE CAPITAL bis zur Klärung der Haftungsfrage die entsprechenden Beträge einbehalten.
		
	If GE CAPITAL already paid the relevant part of the purchase price in accordance with clause 4.1, the ORIGINATOR undertakes to repay the amount payable by GE CAPITAL to the tax authorities/the respective reserve to GE CAPITAL. GE
CAPITAL is entitled to debit the Settlement Account accordingly.	  	Sofern GE CAPITAL den jeweiligen Teil des Kaufpreises gemäß Ziffer 4.1 bereits bezahlt hat, übernimmt der KUNDE die Rückzahlung des zu zahlenden Betrages durch GE CAPITAL an die Finanzbehörden / des
jeweiligen Einbehalts an GE CAPITAL. GE CAPITAL ist berechtigt das 6 Kundenabrechnungskonto entsprechend zu belasten.
		
	The ORIGINATOR is obliged, upon reasonable request and in respect of each Receivable, to inform GE CAPITAL about the following:	  	Der KUNDE ist verpflichtet, GE CAPITAL auf vernünftige Anforderung und bezogen auf die einzelnen Forderungen, über:
		
	(a) all overdue VAT liabilities,	  	(a) alle rückständigen Umsatzsteuerverpflichtungen,
		
	(b) all VAT filings,	  	(b) alle Umsatzsteueranmeldungen,
		
	(c) all payments in respect of VAT.	  	(c) alle Zahlungen auf die Umsatzsteuer zu informieren.
		
	5. GUARANTEE OF DILUTION RISK, OBLIGATIONS OF THE ORIGINATOR REGARDING RECEIVABLES	  	5. VERITÄTSGARANTIE, PFLICHTEN DES KUNDEN IN BEZUG AUF DIE FORDERUNGEN
		
	5.1 The ORIGINATOR warrants (by way of an independent guarantee) (sichert zu) that each purchased Receivable is and will continue to be Eligible until it is fully collected by GE CAPITAL (Guarantee of
Dilution Risk) and that each Receivable has been originated and monitored in accordance with the credit and collection policies established by the ORIGINATOR.	  	5.1 Der KUNDE sichert (im Wege eines selbstständigen Garantieversprechens) zu, dass die gekaufte Forderung einwandfrei ist und bis zum vollständigen Einzug durch GE CAPITAL einwandfrei bleibt
(Veritätsgarantie) und dass jede Forderung im Einklang mit den Gutschriftsund Einzugsregeln (credit and collection policies) des KUNDEN entstand.

  
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	In the event of a breach of such guarantee, GE CAPITAL may require the reinstatement of the contractually stipulated condition (cure). If this is not possible or unreasonable, or a deadline set for such reinstatement has lapsed
unsuccessfully, GE CAPITAL may reduce the purchase price, rescind from the receivable purchase and/or, in the event of negligence or wilful misconduct on the part of the ORIGINATOR, claim indemnification for damages.	  	Bei einem Verstoß gegen diese Garantie kann GE CAPITAL die Herstellung des vertragsgemäßen Zustandes (Nacherfüllung) verlangen. Ist dies nicht möglich oder nicht zumutbar oder ist eine hierzu gesetzte
angemessene Frist erfolglos abgelaufen so kann GE CAPITAL den Kaufpreis mindern, vom Forderungskauf zurücktreten und/oder, wenn dem KUNDEN Fahrlässigkeit oder Vorsatz zur Last gelegt werden kann, Schadensersatz verlangen.
		
	5.2 If a Debtor claims that the relevant Receivable is not Eligible, the ORIGINATOR must inform GE CAPITAL by sending a Notification of Dispute without undue delay. The ORIGINATOR is further
obliged to clarify the matter and, following clarification, to issue a credit note, where applicable.	  	5.2 Macht ein Abnehmer geltend, dass die jeweilige Forderung nicht einwandfrei ist, so muss der KUNDE GE CAPITAL unverzüglich durch eine Reklamationsanzeige unterrichten. Der KUNDE ist weiter
verpflichtet, die Angelegenheit unverzüglich aufzuklären und nach Klärung dem Abnehmer ggf. eine Gutschrift zu erteilen.
		
	5.3 The ORIGINATOR must forward to GE CAPITAL all payments received by it from Debtors without undue delay.	  	5.3 Der KUNDE ist verpflichtet, alle bei ihm eingehenden Abnehmerzahlungen unverzüglich an GE CAPITAL weiterzuleiten.
		
	6. BAD DEBT COVERAGE OF GE CAPITAL	  	6. DELKREDEREHAFTUNG VON GE CAPITAL
		
	6.1 GE CAPITAL assumes the Bad Debt Coverage for each purchased Receivable, to the extent that such purchased Receivable is Eligible.	  	6.1 GE CAPITAL übernimmt für jede gekaufte Forderung, soweit diese einwandfrei ist, die Delkrederehaftung.
		
	6.2 The Bad Debt Case occurs if the Debtor	  	6.2 Der Delkrederefall tritt ein, wenn der Abnehmer
		
	(a) fails to pay a Receivable within 120 days after its due date without disputing its obligation to pay prior to or after the expiry of such period (unless the dispute has been retracted, accepted by GE Capital or
adjudicated to be unjustified); or	  	(a) nicht innerhalb von 120 Tagen nach Fälligkeit der Forderung zahlt, ohne vor oder nach Ablauf der Frist seine Zahlungsverpflichtung zu bestreiten (soweit nicht das Bestreiten der Zahlungsverpflichtung aufgegeben, von
GE Capital akzeptiert oder gerichtlich als unbegründet festgestellt wurde), oder
		
	(b) is Unable to Pay.	  	(b) zahlungsunfähig ist.

  
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	6.3 The Bad Debt Amount is settled promptly after the occurrence of the Bad Debt Case, but not before the expiration of a 120-day-period after the due date of the
Receivable.	  	6.3 Die Abrechnung des Delkrederebetrages erfolgt nach Eintritt des Delkrederefalls, jedoch nicht vor Ablauf von 120 Tagen nach Fälligkeit der Forderung.
		
	6.4 If the ORIGINATOR already paid VAT for the relevant Receivable and the tax authorities legitimately refuse to refund/offset such VAT, GE CAPITAL is obliged to pay that part of the purchase price as well (see clause
4.1, paragraph 2).	  	6.4 Wenn der KUNDE die Umsatzsteuer für die jeweilige Forderung bereits entrichtet hat und das Finanzamt berechtigterweise deren Rückerstattung/Verrechnung ablehnen sollte, ist GE CAPITAL auch insoweit zur
Leistung verpflichtet (siehe Ziffer 4.1, Absatz 2).
		
	7. DEBTOR LIMIT, DISCRETIONARY DEBTOR LIMIT	  	7. BNEHMERLIMIT, ABNEHMERLIMITSELBSTVERGABE
		
	7.1 At the ORIGINATOR’s request, GE CAPITAL sets Debtor Limits at its reasonable discretion on the basis of the relevant Debtor’s creditworthiness and reliability following the amount of
credit limit set out for each Debtor by the relevant credit insurance.	  	7.1 Auf Anforderung des KUNDEN bestimmt GE CAPITAL Abnehmerlimits nach billigem Ermessen auf Grundlage der jeweiligen Bonität und Zuverlässigkeit des jeweiligen Abnehmers in Höhe des Kreditlimits,
welches für jeden Abnehmer vom jeweiligen Kreditversicherer festgelegt ist.
		
	GE CAPITAL is – on the basis of the relevant Debtor’s creditworthiness and reliability considering the amount of credit limit set out for each Debtor by the relevant credit insurance’s insurer – entitled
to modify (including cancellation) Debtor Limits at any time. GE CAPITAL will inform the ORIGINATOR on any deviation from the limits set by the relevant credit insurance. Such modification neither applies to purchased Receivables nor
to Receivables for which the ORIGINATOR has already provided the consideration (Gegenleistung) to its Debtor before having received the modification notice and where such consideration cannot be reclaimed by the ORIGINATOR from
the relevant Debtor.”	  	GE CAPITAL ist – basierend auf der Kreditwürdigkeit und Verlässlichkeit des Abnehmers in Anbetracht der Höhe des Kreditlimits, das für jeden Abnehmer vom jeweiligen Kreditversicherer festgelegt
wird—jederzeit zu Änderungen (einschließlich Streichungen) des Abnehmerlimits berechtigt. GE CAPITAL setzte den KUNDEN über jede Abweichung der vom jeweiligen Kreditversicherer festgelegten Limits in Kenntnis. Eine solche
Änderung gilt jedoch weder für bereits gekaufte Forderungen noch für Forderungen, für die der KUNDE schon vor der Änderungsmitteilung die Gegenleistung an seinen Abnehmer erbracht hat und die nicht mehr
durch den KUNDEN vom jeweiligen Abnehmer zurückgefordert werden können.
		
	7.2 Until revocation of such right by GE CAPITAL, the ORIGINATOR is entitled to set a Discretionary Debtor Limit.	  	7.2 Bis zum Widerruf durch GE CAPITAL hat der KUNDE das Recht zur Abnehmerlimitselbstvergabe.

  
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	Any Discretionary Debtor Limit becomes effective unless GE CAPITAL objects to it without undue delay.	  	Die Abnehmerlimitselbstvergabe wird wirksam, wenn GE CAPITAL ihr nicht unverzüglich widerspricht.
		
	The ORIGINATOR determines the amount of any Discretionary Debtor Limit, which is limited, however, to an amount equal to the maximum amount for Discretionary Debtor Limits pursuant to schedule 1 (Terms and
Conditions), in accordance with the following provisions:	  	Im Rahmen der Abnehmerlimitselbstvergabe setzt der KUNDE die Höhe des Abnehmerlimits, maximal jedoch den Höchstbetrag für Abnehmerlimitselbstvergaben gemäß Anlage 1 (Konditionen) unter
Beachtung des Folgenden fest:
		
	(a) If the ORIGINATOR delivered goods to a Debtor at least twice within the preceding 12-month-period and the Debtor duly paid for such goods within 60 days after the relevant due date of the Receivable,
the ORIGINATOR may set a Debtor Limit for such Debtor of up to 150% of the sum of all unpaid Receivables owing from such Debtor to the ORIGINATOR at a particular point in time during the aforementioned
12-month-period.	  	(a) Wenn ein Abnehmer innerhalb der letzten 12 Monate mindestens zweimal Ware vom KUNDEN bezogen und diese spätestens 60 Tage nach dem jeweiligen Fälligkeitsdatum ordnungsgemäß bezahlt hat, kann
der KUNDE für diesen Abnehmer ein Abnehmerlimit von bis zu 150 % aller offenen Forderungen des KUNDEN gegen diesen Abnehmer zu einem bestimmten Zeitpunkt innerhalb des 12-Monats-Zeitraums festlegen.
		
	(b) In all other cases, the amount of the Debtor Limit must be justifiable beyond doubt by information (not older than 12 months) provided by a commercial inquiry agency or a bank.	  	(b) In allen anderen Fällen muss die Abnehmerlimithöhe durch eine Auskunft (nicht älter als 12 Monate) einer Berufsauskunftei oder Bank zweifelsfrei gerechtfertigt sein.
		
	7.3 At GE CAPITAL’s request, the ORIGINATOR must provide information about the satisfaction of the requirements set out in clause 7.2 (a) or 7.2 (b), as the case may be, in respect of the Discretionary Debtor
Limit and submit the relevant documents.	  	7.3 Auf Anforderung von GE CAPITAL hat der KUNDE über die Erfüllung seiner Verpflichtungen gemäß Ziffer 7.2 (a) oder 7.2 (b) in Bezug auf die Abnehmerlimitselbstvergabe Auskunft zu erteilen und die
zugehörigen Unterlagen vorzulegen.
		
	7.4 GE CAPITAL may always replace any Discretionary Debtor Limits by Debtor Limits set by itself.	  	7.4 GE CAPITAL hat jederzeit das Recht, Abnehmerlimitselbstvergaben durch solche von GE CAPITAL zu ersetzen.
		
	7.5 The amount of the fee charged by GE CAPITAL to establish a Debtor Limit is set out in schedule 1 (Terms and Conditions). Discretionary Debtor Limits are free of charge.	  	7.5 Für die Einräumung eines Abnehmerlimits berechnet GE CAPITAL eine Gebühr, deren Höhe in Anhang 1 (Konditionen) geregelt ist. Abnehmerlimitselbstvergaben sind gebührenfrei.

  
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	8. NON-PURCHASED RECEIVABLES, SET-OFF RIGHT, ADMINISTRATION FEE	  	8. NICHT ANGEKAUFTE FORDERUNGEN, VERRECHNUNGSBEFUGNIS, VERWALTUNGSGEBÜHR
		
	8.1 Upon revocation of the Undisclosed procedure in accordance with clause 13, GE CAPITAL may also collect Receivables, which have not been purchased. To the extent that the relevant authorisation does not arise
from clause 9, the ORIGINATOR hereby authorises GE CAPITAL to collect such Receivables.	  	8.1 Mit Widerruf des Stillen Verfahrens gemäß Ziffer 13 kann GE Capital auch die nicht angekauften Forderungen einziehen. Soweit sich die Befugnis dazu nicht aus Ziffer 9 ergibt, erteilt der KUNDE GE
CAPITAL hiermit eine entsprechende Einziehungsermächtigung.
		
	8.2 Any payments made by Debtors in respect of such Receivables shall be credited to the Settlement Account, but in the
Inter-Credit®-Factoring only after the Reconciliation Process.	  	8.2 Die Abnehmerzahlungen dafür warden dem Kundenabrechnungskonto gutgeschrieben, jedoch im Falle des Inter-Credit®-Factoring nur nach dem
Stülpvorgang.
		
	Clause 4.5 shall apply mutatis mutandis to any VAT amount which is contained in the relevant Receivables.	  	Ziffer 4.5 gilt sinngemäß für eine Umsatzsteuer, die in den jeweiligen Forderungen enthalten ist.
		
	GE CAPITAL is entitled to set off the proceeds from the collection of Receivables, which have not been purchased against its claims vis-à-vis the ORIGINATOR. To the extent that such counter-claims do not arise from the
balance of the Settlement Account, the proceeds will be made available to the ORIGINATOR as part of the credit balance on the Settlement Account. The rights of Retaining Suppliers shall not be affected thereby.	  	GE CAPITAL ist zur Aufrechnung der Einnahmen aus der Einziehung von Forderungen, die nicht gekauft wurden, gegen ihre Ansprüche gegenüber dem KUNDEN berechtigt. Soweit solche Gegenansprüche nicht aus einem
Saldo des Kundenabrechnungskontos hergeleitet werden, wird der Erlös dem KUNDEN als Teil des Guthabens des Kundenabrechnungskontos zur Verfügung gestellt. Die Rechte des Vorbehaltslieferanten sollen hiervon nicht
berührt werden.
		
	8.3 GE CAPITAL shall receive an Administration Fee as set out in schedule 1 (Terms and Conditions) for the administration of Receivables, which have not been purchased. The Administration
Fee shall fall due when the relevant Receivable is booked to the Special Account and will be charged to the Settlement Account.	  	8.3 GE CAPITAL erhält für die Verwaltung der Forderungen, die nicht gekauft werden, eine Verwaltungsgebühr gemäß Anhang 1 (Konditionen). Die Verwaltungsgebühr wird
mit Buchung der jeweiligen Forderung auf dem Kundenabrechnungskonto belastet.

  
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	B. ASSIGNMENT AND SECURITY	  	B. ABTRETUNG UND SICHERUNGSRECHTE
		
	9. ASSIGNMENT OF RECEIVABLES, LEGAL CAUSE	  	9. ABTRETUNG DER FORDERUNGEN, RECHTSGRUND
		
	9.1 The ORIGINATOR hereby assigns any and all Receivables to GE CAPITAL. GE CAPITAL hereby accepts such assignment.	  	9.1 Der KUNDE tritt hiermit alle Forderungen an GE CAPITAL ab. GE CAPITAL nimmt diese Abtretung hiermit an.
		
	9.2 The legal cause for the assignment of each purchased Receivable is the relevant receivables purchase agreement.	  	9.2 Der Rechtsgrund für die Abtretung angekaufter Forderungen ist der jeweilige Forderungskaufvertrag.
		
	The assignment of Receivables, which have not been purchased and the proceeds resulting from the collection of any Receivables, which have not been purchased shall secure any and all existing and future claims which GE
CAPITAL may have against the ORIGINATOR in connection with their overall business relationship.	  	Die Abtretung der nicht angekauften Forderungen und die Erlöse aus dem Einzug nicht angekaufter Forderungen dienen der Sicherung aller gegenwärtig bestehenden und zukünftig entstehenden Ansprüche
von GE CAPITAL gegen den KUNDEN im Zusammenhang mit diesem Vertrag.
		
	For each Receivable that has already been assigned to GE CAPITAL at the time of booking the relevant Receivable on the Factoring Account (as set out in clause 2.2), the legal cause for such
assignment shall be replaced by the relevant receivables purchase agreement upon crediting of the cash portion of the purchase price (purchase of the relevant Receivable as opposed to assignment for security purposes).	  	Für jede Forderung, die im Zeitpunkt ihrer Verbuchung auf dem Factoringkonto (wie in Ziffer 2.2 festgelegt) bereits abgetreten war, wird der Rechtsgrund für eine solche Abtretung durch den jeweiligen
Forderungskaufvertrag, unter Anrechnung des Baranteils auf den Kaufpreis, ersetzt (Kauf der jeweiligen Forderung statt Abtretung zu Sicherungszwecken).
		
	9.3 In respect of Receivables which have not been purchased, the following provisions shall apply:	  	9.3 Im Hinblick auf nicht angekaufte Forderungen gilt das Folgende:
		
	The assignment shall not include Receivables that the ORIGINATOR assigned or will assign to Retaining Suppliers in connection with an extended retention of title arrangement (partial in rem waiver of rights). If and to
the extent that the extended retention of title subsequently ceases to exist, the assignment of relevant Receivable shall become valid and effective.	  	Die Abtretung bezieht sich nicht auf Forderungen, welche der KUNDE an seine Vorbehaltslieferanten im Zusammenhang mit einer Vereinbarung eines verlängerten Eigentumsvorbehalts abgetreten hat oder abtreten wird
(dingliche Teilverzichtsklausel). Falls und soweit der verlängerte Eigentumsvorbehalt zu einem späteren Zeitpunkt entfällt, wird die Abtretung der jeweiligen Forderung gültig und wirksam.

  
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	Clause 11.3 shall apply mutatis mutandis to the limitation of the claim to demand security and the obligation to release security.	  	Ziffer 11.3 gilt sinngemäß für die Beschränkung des Anspruchs, Sicherheiten zu verlangen und die Verpflichtung, Sicherheiten freizugeben.
		
	9.4 To the extent that the assignment pursuant to clause 9.1 does not result in the valid and unchallengeable ownership of GE CAPITAL in a purchased Receivable, the following provision shall apply: Subject to the
condition precedent of entering into a respective receivables purchase agreement, the ORIGINATOR hereby assigns the relevant Receivable to GE CAPITAL and GE CAPITAL hereby accepts such assignment.	  	9.4 Soweit die Abtretung gemäß Ziffer 9.1 nicht zu einer gültigen und unanfechtbaren Inhaberschaft von GE CAPITAL an der angekauften Forderung führt, soll die folgende Bestimmung gelten:
Vorbehaltlich der aufschiebenden Bedingung des Abschlusses eines Forderungskaufvertrages tritt der KUNDE hiermit die jeweilige Forderung an GE CAPITAL ab und GE CAPITAL nimmt die Abtretung hiermit an.
		
	10. CHEQUES, DIRECT DEBIT, BILLS OF EXCHANGE	  	10. SCHECKS, LASTSCHRIFTEN, WECHSEL
		
	10.1 If the ORIGINATOR receives payments in respect of Receivables in any other form (in particular by way of bill of exchange or cheque), GE CAPITAL and the ORIGINATOR hereby agree that title to such instruments will
transfer to GE CAPITAL as soon as the ORIGINATOR acquires title. Furthermore, the ORIGINATOR hereby assigns to GE CAPITAL any and all rights arising from such instruments. GE CAPITAL hereby accepts such assignments.	  	10.1 Gehen Zahlung auf Forderungen in anderer Form (insbesondere in Form von Wechseln oder Schecks) bei dem KUNDEN ein, sind sich GE CAPITAL und der KUNDE darüber einig, dass das Eigentum an diesen Papieren auf GE
CAPITAL übergeht, sobald es der KUNDE erwirbt. Der Kunde tritt ferner alle ihm aus den Papieren zustehenden Rechte an GE CAPITAL ab. GE CAPITAL nimmt die Abtretung hiermit an.
		
	The delivery of any cheques and bills of exchange, which may at any time be in the ORIGINATOR’s possession to GE CAPITAL is replaced by the ORIGINATOR keeping such instruments in gratuitous custody for GE CAPITAL. If the
ORIGINATOR does not acquire direct possession, it hereby assigns to GE CAPITAL its claim for restitution against third parties. GE CAPITAL hereby accepts such assignments.	  	Die Übergabe der Schecks und Wechsel, die in den unmittelbaren Besitz des KUNDEN gelangen, werden dadurch ersetzt, dass GE CAPITAL und der KUNDE hiermit einen unentgeltlichen Verwahrungsvertrag vereinbaren. Für den Fall,
dass der KUNDE nicht unmittelbarer Besitzer wird, tritt er bereits jetzt seinen Herausgabeanspruch gegen Dritte an GE CAPITAL ab. GE CAPITAL nimmt diese Abtretung hiermit an.

  
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	10.2 The ORIGINATOR shall deliver and - to the extent necessary - endorse the instruments and any documents relating thereto to GE CAPITAL without undue delay. Until delivery to GE CAPITAL, the ORIGINATOR must take all steps
that are necessary to preserve the rights resulting from such instruments.	  	10.2 Der KUNDE wird die Papiere – soweit erforderlich – mit seinem Indossament versehen und die dazugehörigen Unterlagen unverzüglich GE CAPITAL abliefern. Der KUNDE hat bis zur Herausgabe an GE CAPITAL
alle Maßnahmen, die zum Erhalt der Rechte aus den Papieren erforderlich sind, zu ergreifen.
		
	The ORIGINATOR hereby authorises GE CAPITAL to sign bills of exchange on behalf of the ORIGINATOR as drawer and to endorse bills of exchange and cheques in the ORIGINATOR’s name.	  	Der KUNDE bevollmächtigt GE CAPITAL hiermit, Wechsel in Vertretung des KUNDEN zu unterzeichnen und Wechsel und Schecks im Namen des KUNDEN zu indossieren.
		
	10.3 GE CAPITAL shall be entitled but not obliged to credit directly, but subject to their respective cashing, any equivalent amounts of cheques, debit entries and bills of exchange. If the relevant instruments are not
irrevocably cashed, the underlying Receivable shall be treated as if it had originally not been paid.	  	10.3 GE CAPITAL ist berechtigt, jedoch nicht verpflichtet, Schecks, Lastschriften und Wechsel vorbehaltlich ihrer Einlösung sofort gutzuschreiben. Werden die maßgeblichen Papiere nicht unwiderruflich
eingelöst, so sind die zugrunde liegenden Forderungen so zu behandeln, als ob sie ursprünglich nicht bezahlt wurden.
		
	11. LIENS AND ANCILLARY RIGHTS, INSURANCE CLAIMS	  	11. SICHERUNGS- UND NEBENRECHTE; VERSICHERUNGSANSPRÜCHE
		
	11.1 The ORIGINATOR hereby transfers to GE CAPITAL, who accepts such transfer, any and all rights and claims (other than the Receivable itself) arising under or in connection with the relevant contract with the Debtor,
including:	  	11.1 Der KUNDE überträgt hiermit an die dies annehmende GE CAPITAL alle Recht und Ansprüche, die dem KUNDEN (außer der Forderung selbst) aus oder im Zusammenhang mit dem jeweiligen Vertrag mit dem
Abnehmer zustehen, insbesondere:
		
	(a) all ownership and inchoate rights in the underlying assets with respect to assigned Receivables that the ORIGINATOR may have or acquire, which are particularly set out in invoices relating to assigned Receivables,
provided that the ORIGINATOR shall continue to be entitled to resell such assets to the Debtor,	  	(a) alle Eigentums- und Anwartschaftsrechte in Bezug auf die abgetretenen Forderungen, die dem KUNDEN zustehen oder die er erwirbt und die teilweise in Rechnungen, bezogen auf die abgetretenen Forderungen, festgelegt
sind, wobei der KUNDE zur Weiterveräußerung der jeweiligen (Vermögens-)Gegenstände an den Abnehmer berechtigt bleibt,
		
	(b) any and all claims for delivery of such assets, in particular in the event of an unwinding of the contract, as well as the right to rescind the contract,	  	(b) alle Ansprüche auf Lieferung dieser (Vermögens-)Gegenstände, insbesondere im Falle der Rückabwicklung des Vertrages sowie das Recht, vom Vertrag
zurückzutreten,

  
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	(c) in the event of a sale by consignment, any claims against the carrier and the right of pursuit,	  	(c) im Falle des Versendungskaufes, die Ansprüche gegen den Trasporteur und das Verfolgungsrecht,
		
	(d) all rights of the ORIGINATOR arising from an extended retention of title arrangement within the meaning of clause 21 (d), in particular, the claim of the Debtor resulting from the resale of the relevant assets,	  	(d) alle Rechte des KUNDEN, die infolge eines verlängerten Eigentumsvorbehalts gemäß Ziffer 21 (d) entstehen, insbesondere der Anspruh des Abnehmers aus dem Wiederverkauf der jeweiligen (Vermögens-)
Gegenstände,
		
	(e) the ORIGINATOR’s right to request the insolvency administrator to exercise its rights in an insolvency of the Debtor.	  	(e) das Recht des KUNDEN im Falle einer Insolvenz des Abnehmers, den Insolvenzverwalter zur Ausübung seiner Rechte aufzufordern.
		
	To the extent that such transfer is subject to specific additional requirements, the ORIGINATOR undertakes to comply with any such requirements in the required form.	  	Soweit die Übertragung von besonderen Voraussetzungen abhängig ist, verpflichtet sich der KUNDE, sie in der erforderlichen Weise vorzunehmen.
		
	To the extent that the ORIGINATOR holds or reacquires direct possession of such assets, the ORIGINATOR shall keep such assets for GE CAPITAL in gratuitous custody and separate from any other goods and waives any claims for
reimbursement of expenses.	  	Soweit der KUNDE noch oder wieder unmittelbarer Besitzer solcher 9 (Vermögens-) Gegenstände ist, verwahrt er diese für GE CAPITAL unentgeltlich und getrennt von anderen Waren und verzichtet auf
Aufwendungsersatzansprüche.
		
	11.2 The ORIGINATOR and GE CAPITAL agree that GE CAPITAL acquires a lien and a retention right with respect to the securities and chattels, of which it may have or acquire possession in the course of business with the
ORIGINATOR.	  	11.2 Der KUNDE und GE CAPITAL sind sich darüber einig, dass GE CAPITAL ein Pfand- sowie ein Zurückbehaltungsrecht in Bezug auf die Sicherheiten und Sachen zusteht, welches GE CAPITAL im Rahmen der
Geschäftsbeziehung mit dem KUNDEN erworben hat oder erwirbt.
		
	GE CAPITAL also acquires a lien and a retention right with respect to any claims arising from the business relationship (e.g. credit balances) that the ORIGINATOR has or will acquire against GE CAPITAL.	  	GE CAPITAL erwirbt auch ein Pfandrecht und ein Zurückbehaltungsrecht im Hinblick auf die Ansprüche aus der Geschäftsverbindung (z.B. Kontoguthaben), die der Kunde gegen GE CAPITAL erworben hat oder erwerben
wird.
		
	Such liens and the retention right shall secure all existing, future and contingent claims of GE CAPITAL against the ORIGINATOR arising from the business relationship.	  	Das Pfandrecht sowie das Zurückbehaltungsrecht dienen der Sicherung aller bestehenden, künftigen und bedingten Ansprüche, die GE CAPITAL aus der Geschäftsverbindung gegen den KUNDEN zustehen.

  
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	If GE CAPITAL acquires control over monies or other assets under the condition that they may only be used for a certain purpose, GE CAPITAL’s lien does not extend to such assets and in this case, GE CAPITAL shall not have a
retention right.	  	Wenn GE CAPITAL die Herrschaft über Gelder oder andere Werte erwirbt, die nur für einen bestimmten Zweck verwendet werden sollen, wird sich das Pfandrecht von GE CAPITAL nicht auf solche Werte erstrecken und in einem
solchen Fall soll GE CAPITAL auch kein Zurückbehaltungsrecht zustehen.
		
	11.3 If the realisable value of all security interests not only temporarily exceeds the total amount of all claims arising from the business relationship (Cover Limit), GE CAPITAL shall, at the ORIGINATOR’s request,
release security interests in the discretion of GE CAPITAL in the amount exceeding the Cover Limit.	  	11.3 Wenn der realisierbare Wert aller Sicherheiten den Gesamtbetrag aller Ansprüche (Deckungsgrenze) nicht nur vorübergehend übersteigt, hat GE CAPITAL auf Verlangen des KUNDEN Sicherheiten nach Wahl von GE
CAPITAL freizugeben, und zwar in Höhe des die Deckungsgrenze übersteigenden Betrages.
		
	When selecting the security interests to be released, GE CAPITAL will consider the legitimate interests of the ORIGINATOR and any third party that provided security for the ORIGINATOR’s obligations.	  	GE CAPITAL wird bei der Auswahl der freizugebenden Sicherheiten auf die berechtigten Interessen des KUNDEN und eines dritten Sicherungsgebers, der für die Verbindlichkeiten des KUNDEN Sicherheiten bestellt hat, Rücksicht
nehmen.
		
	11.4 GE CAPITAL will only enforce the security interests if the ORIGINATOR is in payment default and a grace period of at least two weeks set by GE CAPITAL before the commencement of enforcement actions has expired to no
avail.	  	11.4 GE CAPITAL wird ihr gestellte Sicherheiten nur verwerten, wenn der KUNDE sich in Zahlungsverzug befindet und eine von GE CAPITAL vor dem Beginn der Zwangsvollstreckung gesetzte Nachfrist von mindestens zwei Wochen
fruchtlos abgelaufen ist.
		
	The Receivables assigned for security purposes are enforced by collection in the Undisclosed Procedure and the net proceeds resulting from such enforcement are set off against the ORIGINATOR’s obligations owing to
GE CAPITAL.	  	Die Verwertung der zur Sicherheit abgetretenen Forderungen erfolgt durch deren Einzug im Stillen Verfahren und Verrechnung der Reinerlöse aus dem Einzug mit den Verbindlichkeiten des KUNDEN bei GE
CAPITAL.
		
	GE CAPITAL will credit the net enforcement proceeds to the Settlement Account.	  	GE CAPITAL wird den Reinerlös aus der Verwertung dem Kundenabrechnungskonto gutschreiben.

  
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	11.5 If facts emerge which indicate that the payment of a purchased Receivable by the Debtor may be at risk, the ORIGINATOR must, upon request by and at the expense of GE CAPITAL, take back the relevant
goods.	  	11.5 Der KUNDE muss auf Weisung und auf Kosten von GE CAPITAL die betreffende Ware zurücknehmen, wenn Tatsachen bekannt werden, die eine Bezahlung einer gekauften Forderung durch den Abnehmer als
gefährdet erscheinen lassen.
		
	GE CAPITAL may also take possession of the goods or store such goods at a third party’s premises.	  	GE CAPITAL kann die Ware auch in Besitz nehmen oder bei einem Dritten einlagern.
		
	GE CAPITAL’s Bad Debt Coverage, if applicable, shall remain unaffected thereby.	  	Die Delkrederehaftung von GE CAPITAL soll, sofern einschlägig, hiervon unberührt bleiben.
		
	The realisation of returned goods shall be for the benefit and at the expense of GE CAPITAL who will also determine the method of enforcement.	  	Die Verwertung der zurückgenommenen Ware erfolgt zu Gunsten und auf Kosten von GE CAPITAL, die auch die Art und Weise der Verwertung bestimmt.
		
	11.6 The ORIGINATOR shall use its best efforts to support GE CAPITAL without remuneration in enforcing and realising all security interests, rights and claims.	  	11.6 Der KUNDE hat sich unentgeltlich nach besten Kräften zu bemühen, GE CAPITAL bei der Durchsetzung und Verwertung sämtlicher Sicherheiten, Rechte und Ansprüche zu unterstützen.
		
	11.7 The ORIGINATOR undertakes to structure its credit insurance policy such that in each year, the maximum annual indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit
of the top five debtors of each ORIGINATOR in respect of this agreement.	  	11.7 Der KUNDE verpflichtet sich, seine Kreditversicherungen so zu strukturieren, dass in jedem Jahr der maximale jährliche Entschädigungsbetrag der jeweiligen Kreditversicherung zur Deckung des maßgeblichen
Kreditlimits der Top-Five-Abnehmer des KUNDEN im Hinblick auf diesen Vertrag ausreicht.
		
	Any changes to the terms of the insurance policies and any changes to the insurance companies need to be prior approved by GE CAPITAL, and such approval may not be unreasonably withheld.	  	Alle Änderungen der Versicherungsbedingungen und alle Wechsel der Versicherungsunternehmen bedürfen der vorherigen Einwilligung von GE CAPITAL, die nicht unbillig verweigert werden darf.
		
	The ORIGINATOR and GE CAPITAL shall enter into an additional agreement with respect to the assignment of claims under trade credit insurances, as set out in Annex 3 (Trade Credit Insurance Agreement), and will enter into
specific trade credit insurance assignment agreements, for each trade credit insurer (Warenkreditversicherer) substantially in the form set out in Annex 4 (Assignment Agreements on Trade Credit Insurance) hereto.	  	Der KUNDE und GE CAPITAL schließen einen zusätzliche Vertrag über die Abtretung von Ansprüchen aus den Warenkreditversicherungen ab, wie sie in Anlage 3 (Warenkreditversicherungsvertrag)
festgelegt sind, und werden spezielle Warenkreditversicherungsabtretungsverträge für jeden Warenkreditversicherer abschließen, die im Wesentlichen denen im Anhang 4 (Warenkreditversicherungsabtretungsvertrag)
entsprechen.

  
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	The ORIGINATOR undertakes to notify each trade credit insurer (Warenkreditversicherer) of the assignment pursuant to this clause in substantially the form as set out in Annex 4 (As Assignment Agreements on Trade Credit
Insurance).	  	Der KUNDE verpflichtet sich, jeden Warenkreditversicherer von der Abtretung gemäß dieser Ziffer in der Form, die im Wesentlichen der in Anlage 4 festgelegten Form
(Warenkreditversicherung- sabtretungsvertrag) entspricht, zu unterrichten
		
	C. FACTORING PROCEDURE	  	C. FACTORING-VERFAHREN
		
	12. FULL-SERVICE, INTER-CREDIT®, SMART-SERVICE	  	12. FULL-SERVICE, INTER-CREDIT®, SMART-SERVICE
		
	12.1 Schedule 1 (Terms and Conditions) sets out whether the accounts receivable bookkeeping and dunning procedure follow the rules of Full- Service-Factoring,
Inter-Credit®-Factoring or Smart-Service-Factoring.	  	12.1 Aus Anhang 1 (Konditionen) ist ersichtlich, ob die Debitorenbuchhaltung und das Mahnwesen nach Maßgabe des Full-Service- Factoring, des
Inter-Credit®-Factoring oder des Smart-Service-Factoring erfolgt.
		
	12.2 The following rules apply to the bookkeeping:	  	12.2 Für die Buchhaltung gilt:
		
	In all instances, the ORIGINATOR transfers the data relating to Receivables, such as invoices, credit notes, debit notes and Notifications of Dispute by submitting the relevant documents and/or through
Factoring-Satzaufbau and/or by manually entering data of invoices/credit notes online in Factorlink.	  	In allen Fällen übermittelt der KUNDE die Daten zu den Forderungen, wie Rechnungen, Gutschriften, Lastschriften und Reklamationsanzeigen durch Übersendung der entsprechenden Unterlagen und/oder
Factoring- Satzaufbau und/oder durch manuelle Rechnungs-/Gutschriftserfassung online in Factorlink.
		
	In the Full-Service-Factoring und Smart-Service-Factoring procedures, the Debtors’ payments are booked directly by GE CAPITAL to the Debtors’ Accounts.	  	Im Full-Service-Factoring und Smart-Service-Factoring erfolgt die Buchung der Abnehmerzahlungen direkt durch GE CAPITAL auf den Debitorenkonten.
		
	In the Inter-Credit®-Factoring procedure, the Debtors’ payments shall be booked by GE CAPITAL to the Incoming Payment Settlement Account. Any
accounting documents that GE CAPITAL may have shall be delivered to the ORIGINATOR who books the payments on the debits side and relates them to the relevant	  	Beim Inter-Credit®-Factoring werden die Abnehmerzahlungen von GE CAPITAL auf dem Kundenabrechnungskonto gebucht. Die GE CAPITAL verfügbaren
Buchungsunterlagen werden dem KUNDEN überlassen, der die Zahlungen debitorisch bucht und den jeweiligen Rechnungen

  
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	invoices. At least once a week, the ORIGINATOR shall send its complete Open Items File to GE CAPITAL through Factoring-Satzaufbau. Upon receipt of such data, GE CAPITAL will perform a Reconciliation Process and
will adjust all other Accounts kept in connection with the factoring arrangement.	  	zuordnet. Mindestens einmal pro Woche übermittelt der KUNDE seine gesamte Offene Posten Datei durch Factoring-Satzaufbau an GE CAPITAL. GE CAPITAL wird nach Erhalt dieser Daten einen Stülpvorgang
vornehmen und auch alle übrigen im Factoring geführten Konten ausgleichen.
		
	In the Inter-Credit®-Factoring procedure, the ORIGINATOR must keep the accounts receivable books in such a manner that arrears of postings are avoided and that the
Open Items File is correct and up-to-date on a daily basis.	  	Beim Inter-Credit®-Factoring muss der KUNDE die Forderungsbücher in einer Weise erhalten, dass Buchungsrückstände vermieden werden und die Offene
Posten Datei richtig und tagesaktuell ist.
		
	12.3 The following rules apply to the dunning procedure:	  	12.3 Für das Mahnwesen gilt:
		
	If the Debtor fails to pay the relevant Receivable on the due date, 3 dunning runs in cycles of 14 days will generally be performed. If the relevant Receivable is not completely discharged within a period of 60
days after its due date, GE CAPITAL may initiate the Collection Procedure in accordance with and subject to clause 16.	  	Zahlt der Abnehmer bei Fälligkeit der jeweiligen Forderung nicht, so erfolgen regelmäßig 3 Mahnläufe im 14-Tage-Rythmus. Ist die jeweilige Forderung 60 Tage nach Fälligkeit der
Forderung noch nicht vollständig ausgeglichen, wird GE CAPITAL das Inkassoverfahren gemäß und in Übereinstimmung mit Ziffer 16 einleiten.
		
	In the Full-Service-Factoring procedure, GE CAPITAL performs the dunning procedure, in the Smart-Service-Factoring and the Inter-Credit®-Factoring procedures, the ORIGINATOR performs the dunning procedure.	  	Im Full-Service-Factoring mahnt GE CAPITAL, im Smart-Service-Factoring und im Inter-Credit®-Factoring mahnt der KUNDE.
		
	In the Inter-Credit®-Factoring and Smart-Service-Factoring procedures, the ORIGINATORS must perform the dunning
procedure in such a manner that arrears of reminders are avoided.	  	Im Inter-Credit®-Factoring und Smart-Service-Factoring muss der KUNDE das Mahnverfahren in einer Art und Weise ausführen, dass Mahnrückstände
vermieden werden.
		
	13. DISCLOSED / UNDISCLOSED PROCEDURE	  	13. OFFENES / STILLES VERFAHREN
		
	13.1 Schedule 1 (Terms and Conditions) sets out whether the Disclosed Procedure or the Undisclosed Procedure applies.	  	13.1 Aus Anhang 1 (Konditionen) ist ersichtlich, ob das Offene Verfahren oder das Stille Verfahren angewandt wird.

  
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	13.2 In the Disclosed Procedure, the ORIGINATOR will inform its Debtors at the Commencement Date about the factoring procedure and the assignment of Receivables to GE CAPITAL in writing and in the
appropriate manner (letter of notification).	  	13.2 Im Offenen Verfahren wird der KUNDE seine Abnehmer bei Vertragsbeginn schriftlich in geeigneter Form (Notifikationsbrief) über das Factoringverfahren und die Abtretung der Forderungen an
GE CAPITAL unterrichten.
		
	Furthermore, the ORIGINATOR will attach to its invoices a clearly visible note of assignment in accordance with schedule 1 (Terms and Conditions).	  	Außerdem wird der KUNDE auf seinen Rechnungen den Abtretungsvermerk gemäß Anhang 1 (Konditionen) anbringen.
		
	GE CAPITAL is also entitled to inform the Debtors about the factoring arrangement and the assignment and to verify the relevant Receivables with the Debtors.	  	GE CAPITAL ist auch berechtigt, die Abnehmer über das Factoringverhältnis und die Abtretung zu unterrichten, sowie die jeweiligen Forderungen bei den Abnehmern zu verifizieren.
		
	To the extent that the parties agree on Pledged Accounts, clause 13.3 shall apply mutatis mutandis.	  	Soweit die Einrichtung von Verpfändeten Bankkonten vereinbart ist, gilt für diese Ziffer 13.3 entsprechend.
		
	13.3 In the Undisclosed Procedure and until termination pursuant to Clause 14, the ORIGINATOR is entitled to collect and administer Receivables in its name and on its behalf within the boundaries of the Credit
and Collection Policies (by way of a collection authority (Einzugsermächtigung) and to perform all related functions with reasonable care, skill and diligence with the standard of care of a prudent merchant (Sorgfalt eines
ordentlichen Kaufmanns). The ORIGINATOR shall accept Debtors’ payments by cashless transactions, if possible, and only into the Pledged Accounts.	  	13.3 Im Stillen Verfahren und bis zur Kündigung gemäß Ziffer 14 ist der KUNDE verpflichtet, Forderungen im eigenen Namen und im eigenen Auftrag innerhalb der Grenzen der Gutschrifts- und
Einziehungsbestimmungen (Credit and Collection Policies) (durch Einzugsermächtigung) einzuziehen und zu verwalten und alle damit zusammenhängenden Aufgaben mit angemessener Vorsicht, Fertigkeit und Sorgfalt, die denen eines
ordentlichen Kaufmanns entsprechen müssen, zu erfüllen. Der KUNDE akzeptiert Abnehmerzahlungen nur, wenn sie, wenn 11 möglich, bargeldlos und nur auf die verpfändeten Konten geleistet werden.
		
	(a) All invoices and any other relevant correspondence of the ORIGINATOR vis-à-vis its Debtors shall only specify the Pledged Accounts as the ORIGINATOR’s bank account details. Any Debtors
that may have been informed otherwise will be advised accordingly by the ORIGINATOR without undue delay.	  	(a) Alle Rechnungen und jeder andere relevante Schriftverkehr des KUNDEN gegenüber seinen Abnehmern dürfen als Bankverbindung ausschließlich das Verpfändete Konto enthalten. Abnehmer, die
anders informiert sein könnten, wird der KUNDE unverzüglich entsprechend unterrichten.

  
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	(b) The ORIGINATOR undertakes to reset all balances on the Pledged Accounts prior to the Commencement Date.	  	(b) Der KUNDE verpflichtet sich, alle Salden der Verpfändeten Konten vor Vertragsbeginn auf Null zu stellen.
		
	(c) To secure in particular the claim arising from clause 5, and to secure any and all other present and future claims of GE CAPITAL against the ORIGINATOR arising from the business relationship, the ORIGINATOR shall pledge to GE
CAPITAL by way of a separate agreement all claims arising from the Pledged Accounts to receive any existing or future balances (credits) to which the ORIGINATOR may be entitled in connection with settlements under the relevant current account
relationship, as well as any claims arising from the giro contract to receive daily balances standing to the credit on the Pledged Accounts which may arise between the settlements of accounts and all claims to credit entries with respect to
any amount received (Account list in Section 8 of Schedule 1 (Terms and Conditions)).	  	(c) Zur Sicherung, insbesondere des Anspruchs gemäß Ziffer 5 und zur Sicherung aller übrigen gegenwärtigen und künftigen Ansprüche von GE CAPITAL gegen den KUNDEN aus diesem Vertragsverhältnis,
verpfändet der KUNDE gemäß separater Vereinbarung seine Ansprüche aus den Verpfändeten Bankkonten auf Auszahlung aller gegenwärtigen und künftigen Überschüsse, die dem KUNDEN bei Saldoziehung aus
dem in laufender Rechnung (Kontokorrent) geführten Konto/Konten zustehen, sowie auch die Ansprüche aus dem Girovertrag auf fortlaufende Auszahlung des sich zwischen den Rechnungsabschlüssen ergebenden Tagesguthabens sowie alle
Ansprüche auf Gutschriften an GE CAPITAL (Kontenliste in Ziffer 8 des Anhangs 1 (Konditionen)).
		
	(d) The parties hereby agree on the following collection arrangement: GE CAPITAL is – in particular prior to the occurrence of an enforcement event – entitled to solely collect the amounts standing to the credit of the
Pledged Accounts. The ORIGINATOR may only demand payment to GE CAPITAL.	  	(d) Hiermit wird folgende Einziehungsvereinbarung getroffen: GE CAPITAL ist, insbesondere vor dem Eintritt der Verwertung, allein zur Einziehung aller Beträge des Verpfändeten Kontos berechtigt. Der Kunde darf
Zahlung nur an GE CAPITAL verlangen.
		
	(e) The ORIGINATOR and GE CAPITAL agree that the Pledged Accounts are held by the ORIGINATOR as trustee for GE CAPITAL in its own name, but for the sole purpose of creating a security interest for GE CAPITAL (trust
arrangement). The amounts received and standing to the credit of the Pledged Accounts shall serve the sole purpose of being transferred to GE CAPITAL. The ORIGINATOR undertakes not to dispose of any credit balance on the Pledged
Accounts in any other way and not to charge or debit the Pledged Accounts. If any payments from Debtors are received on any account other than the Pledged Accounts, the ORIGINATOR hereby undertakes to transfer such amounts
directly to GE CAPITAL or to a Pledged Account.	  	(e) Der KUNDE und GE CAPITAL sind sich darüber einig, dass die Verpfändeten Bankkonten vom KUNDEN als Treuhänder für GE CAPITAL im eigenen Namen aber lediglich zu Sicherungszwecken im Interesse von GE CAPITAL
geführt werden (Treuhandvereinbarung). Die Gelder auf den Verpfändeten Bankkonten dienen nur dem Zweck ihrer Weiterleitung an GE CAPITAL. Der Kunde verpflichtet sich, jede andere Verfügung über Ansprüche aus Guthaben
zu unterlassen und keine Belastungen der Verpfändeten Bankkonten vorzunehmen. Sollten Abnehmerzahlungen auf anderen als den Verpfändeten Bankkonten eingehen, verpflichtet sich der KUNDE, diese direkt an GE
CAPITAL oder auf ein Verpfändetes Bankkonto weiterzuleiten.

  
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	13.4	  	13.4
		
	(a) The ORIGINATOR undertakes to notify each credit institution that keeps any of the Pledged Accounts of the pledge and the trust arrangement, to release such credit institution vis-à-vis GE CAPITAL from the Banking
Secrecy with respect to the Pledged Accounts and to use its reasonable efforts to provide a declaration from any such credit institution to GE CAPITAL pursuant to which the relevant credit institution:	  	(a) Der KUNDE verpflichtet sich, jedem Kreditinstitut, bei dem ein Verpfändetes Bankkonto geführt wird, die Verpfändung und die Treuhandvereinbarung anzuzeigen, es vom Bankgeheimnis gegenüber GE CAPITAL in
Bezug auf die Verpfändeten Bankkonten zu befreien und angemessene Anstrengungen anzuwenden, die Erklärung des Kreditinstituts gegenüber GE CAPITAL beizubringen, wonach das jeweilige Kreditinstitut:
		
	- acknowledges the pledge including the collection arrangement and undertakes not to allow any disposals deviating from the collection arrangement,	  	- die Verpfändung einschließlich der Einziehungsvereinbarung anerkennt und sich verpflichtet, davon abweichende Verfügungen nicht zuzulassen,
		
	- waives any retention and set-off rights that it may have with respect to the Pledged Accounts, abandons or subordinates to GE CAPITAL’s pledge any pledge it may have and agrees not to credit any payments allotted to
the Pledged Accounts to any other accounts; provided that the charging of the Pledged Accounts with customary fees, costs, reverse bookings and conditional bookings may be stipulated,	  	- bezüglich der Verpfändeten Bankkonten auf etwa ihm zustehende Zurückbehaltungs- und Aufrechnungsrechte verzichtet, ein etwa bestehendes eigenes Pfandrecht aufgibt oder nachrangig stellt und für
verpfändete Bankkonten bestimmte Zahlungen nicht anderen Konten gutschreibt; die Belastung mit üblichen Gebühren, Kosten, Rückbuchungen und bedingte Buchungen kann vorbehalten bleiben,
		
	- undertakes to keep GE CAPITAL continuously informed about the Pledged Accounts by delivery of account statements and, on request, by delivery of the relevant receipts, and to allow GE CAPITAL to obtain information by
retrieving digital data.	  	- GE CAPITAL durch Kontoauszüge und auf Anforderung auch durch die zugehörigen Belege über die Verpfändeten Bankkonten fortlaufend unterrichtet und GE CAPITAL die Möglichkeit einräumt, sich durch
Abrufen digitaler Daten zu informieren.

  
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	(b) The ORIGINATOR warrants by way of an independent guarantee that following performance of clause 13.4(a) no third party rights exist with respect to the pledged rights and claims other than a subordinated pledge in favour of the
account bank(s) and except for pledges in favour of account bank(s) with respect to claims arising from and relating to: (a) cancellation and correction entries, (b) reversals of reserved bookings (e.g. check or direct debit) and unintentional
payments, and (c) fees and other account charges or fees in the context of normal business, provided, however, that such claims as set out in (a) – (c) above arise in connection with the relevant Pledged Account and do not derive from a
different relationship between the ORIGINATOR and the account bank, if applicable.	  	(b) Der KUNDE garantiert im Wege eines selbstständigen Garantieversprechens, dass nach Erfüllung von Ziffer 13.4 (a) keine Rechte Dritter an den verpfändeten Rechten und Ansprüchen bestehen, mit der Ausnahme
eines etwaigen nachrangigen AGB-Pfandrecht der kontoführenden Bank und mit Ausnahme eines etwaigen Pfandrechts der der kontoführenden Bank, im Hinblick auf Ansprüche, die entstehen aus und sich beziehen auf: (a) Stornierungsund
Korrektureinträge, (b) Rückbelastungen vorbehaltener Buchungen (z.B. Scheck oder Lastschrift) und unbeabsichtigten Zahlungen, und (c) Gebühren und anderen Kontogebühren und Gebühren im ordentlichen Geschäftsverkehr,
vorausgesetzt jedoch, dass diese in (a)—(c) aufgeführten Ansprüche im Zusammenhang mit dem jeweiligen verpfändeten Konto entstehen und, falls zutreffend, nicht von einer anderen Beziehung zwischen dem KUNDEN und der
kontoführenden Bank herrühren.
		
	(c) The ORIGINATOR undertakes to inform GE CAPITAL immediately if any third party asserts any such right.	  	(c) Der KUNDE verpflichtet sich, umgehend GE CAPITAL zu verständigen, wenn Dritte solche Rechte geltend machen.
		
	(d) The ORIGINATOR authorises GE CAPITAL to notify the relevant credit institution of the pledge and to receive the declaration referred to in clause 13.4(a) above, on behalf of the ORIGINATOR.	  	(d) GE CAPITAL ist bevollmächtigt, die Verpfändung gegenüber dem jeweiligen Kreditinstitut anzuzeigen und die Erklärung gemäß Ziffer 13.4 (a) auch im Namen des KUNDEN vorzunehmen.
		
	13.5 GE CAPITAL is entitled to conduct regular balance acknowledgement procedures with Debtors.	  	13.5 GE Capital ist berechtigt, regelmäßig Saldenbestätigungsverfahren mit den Abnehmern durchzuführen
		
	GE CAPITAL will send an account statement setting out the Receivables which, to GE CAPITAL’s knowledge, are unsettled at the relevant date, including the account balance resulting therefrom, accompanied with a request to
the relevant Debtor to confirm the balance set out therein to be accurate and the relevant Receivables to be Eligible.	  	GE CAPITAL verschickt einen Kontoauszug über die nach ihrer Kenntnis zum Stichtag offenen Forderungen einschließlich des sich daraus ergebenden Saldos, verbunden mit der Aufforderung an den jeweiligen
Abnehmer, diesen Saldo als zutreffend und die Forderung als einwandfrei zu bestätigen.
		
	For the duration of the Undisclosed Procedure, the request to confirm the account balances is made in the name of the ORIGINATOR by an auditor appointed by GE CAPITAL as trustee for GE CAPITAL. The ORIGINATOR will grant a
relevant power of attorney to the trustee for submission to the Debtor. The trustee will inform GE CAPITAL comprehensively about the results of the balance acknowledgement procedure.	  	Für die Dauer des stillen Verfahrens erfolgt regelmäßig die Aufforderung zur Saldenbestätigung unter dem Namen des KUNDEN durch einen von GE CAPITAL benannten Prüfer als Treuhänder
für GE CAPITAL. Der KUNDE stellt dem Treuhänder eine entsprechende Vollmacht zur Vorlage beim Abnehmer aus. Der Treuhänder informiert GE CAPITAL umfassend über die Ergebnisse des
Saldenbestätigungsverfahrens.

  
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	14. CHANGE OF PROCEDURE BY PARTIAL TERMINATION	  	14. VERFAHRENSWECHSEL DURCH TEILKÜNDIGUNG
		
	14.1 GE CAPITAL is only entitled to an extraordinary partial termination in writing of the Inter-Credit®-Factoring and/or the Undisclosed Procedure
without observation of a termination period, if the conditions of Clause 26.2 are fulfilled.	  	14.1 GE CAPITAL hat ohne Einhaltung einer Kündigungsfrist nur das Recht zu einer außerordentlichen Kündigung des Inter-Credit®-Factorings
und/oder des stillen Verfahrens, die der Schriftform entsprechen muss, wenn die Bedingungen der Ziffer 26.2 erfüllt sind.
		
	14.2 Upon effectiveness of a partial termination of the Inter-Credit®- Factoring, the Factoring Agreement shall continue as Full-Service- Factoring, upon
partial termination of the Undisclosed Procedure as Disclosed Procedure, respectively.	  	14.2 Mit Wirksamwerden einer Teilkündigung des Inter-Credit®-Factoring setzt sich der Factoringvertrag als Full-Service-Factoring, bzw. bei
Teilkündigung des stillen Verfahrens, als offenes Verfahren fort.
		
	14.3 Upon receipt of a partial termination pursuant to clause 14.1, the ORIGINATOR is entitled to terminate the Factoring Agreement by giving 5 Business Days’ notice prior to the date on which the partial
termination takes effect.	  	14.3 Nach dem Zugang einer Teilkündigung nach Ziffer 14.1 hat der KUNDE das Recht, den Factoringvertrag mit einer Frist von mindestens 5 Geschäftstagen vor dem Zeitpunkt, auf den gekündigt ist, zu
kündigen.
		
	14.4 The ORIGINATOR may approach GE CAPITAL with a request not to disclose the assignment notwithstanding a termination of the Undisclosed Procedure if and as long as the claims owing to GE CAPITAL arising from the
business relationship with the ORIGINATOR are unappealably satisfied (erfüllt).	  	14.4 Der KUNDE hat das Recht, GE CAPITAL darum zu ersuchen, ungeachtet der Kündigung des Stillen Verfahrens die Abtretung nicht offenzulegen, wenn und solange die GE CAPITAL zustehenden Ansprüche, die aus
einer Geschäftsbeziehung mit dem KUNDEN herrühren, unanfechtbar erfüllt sind.
		
	14.5 GE CAPITAL is entitled to terminate the Smart-Service-Factoring by written notice, applying clause 14.1 mutatis mutandis. Upon effectiveness of a partial termination, the Factoring Agreement shall continue as
Full- Service-Factoring; clause 14.3 shall also apply mutatis mutandis.	  	14.5 GE CAPITAL kann das Smart-Service-Factoring schriftlich kündigen; Ziffer 14.1 gilt entsprechend. Mit dem Wirksamwerden einer Teilkündigung setzt sich der Factoringvertrag als
Full-Service-Factoring fort; Ziffer 14.3 gilt ebenfalls entsprechend.

  
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	15. QUARTERLY ACCOUNT STATEMENT, TACIT RATIFICATION, TIME LIMIT FOR OBJECTIONS	  	15. QUARTALSABSCHLUSS, GENEHMIGUNG DURCH SCHWEIGEN, FRIST FÜR EINWENDUNGEN
		
	15.1 GE CAPITAL shall, within 10 days following the end of each calendar quarter, send the Quarterly Account Statement to the ORIGINATOR.	  	15.1 GE CAPITAL übersendet dem KUNDEN innerhalb von 10 Tagen nach Abschluss des Quartals den Quartalsabschluss.
		
	15.2 The ORIGINATOR must raise any objections concerning the incorrectness or incompleteness of a Quarterly Account Statement no later than 6 weeks following receipt thereof; if such objections are made in writing,
dispatch thereof during the 6-week-period shall suffice.	  	15.2 Der KUNDE hat Einwendungen wegen Unrichtigkeit oder Unvollständigkeit eines Quartalsabschlusses spätestens vor Ablauf von 6 Wochen nach dessen Zugang zu erheben; macht er seine Einwendungen schriftlich
geltend, genügt die Absendung innerhalb der 6-Wochen-Frist.
		
	Failure to make objections in due time will be considered an approval of the Quarterly Account Statement. When issuing the Quarterly Account Statement, GE CAPITAL will expressly refer the ORIGINATOR to this
consequence.	  	Das Unterlassen rechtzeitiger Einwendungen gilt als Genehmigung des Quartalsabschlusses. Auf diese Folge wird GE CAPITAL bei Erteilung des Quartalsabschlusses besonders hingewiesen.
		
	The ORIGINATOR is also entitled to request correction of the Quarterly Account Statement after the expiry of the 6-week-period, but must prove in that instance that its Account was either unlawfully (unrechtmäßig)
debited or not credited.	  	Der KUNDE kann auch nach Ablauf der 6-Wochen-Frist eine Berichtigung des Quartalsabschlusses verlangen, muss dann aber beweisen, dass sein 13 Konto unrechtmäßig entweder belastet oder eine ihm zustehende Gutschrift
nicht erteilt wurde.
		
	15.3 To the extent that GE CAPITAL has a repayment claim against the ORIGINATOR, GE CAPITAL may reverse incorrect credit entries on all accounts of the ORIGINATOR by way of a debit entry prior to the issue of the next
Quarterly Account Statement (reverse entry); in this case, the ORIGINATOR may not object to the debit entry on the grounds of having already disposed of an amount equivalent to the credit entry.	  	15.3 Soweit GE CAPITAL ein Rückzahlungsanspruch gegen den KUNDEN zusteht, kann GE CAPITAL fehlerhafte Gutschriften auf allen Konten des KUNDEN durch eine Belastungsbuchung vor dem nächsten Quartalsabschluss
rückgängig machen (Stornobuchung); der KUNDE kann in diesem Fall gegen die Belastungsbuchung nicht einwenden, dass er in Höhe der Gutschrift bereits verfügt hat.

  
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	If GE CAPITAL discovers an incorrect credit entry only after a Quarterly Account Statement has been issued and if GE CAPITAL has a repayment claim against the ORIGINATOR, it will make a correction entry in the amount of such
claim.	  	Stellt GE CAPITAL eine fehlerhafte Gutschrift erst nach einem Quartalsabschluss fest und steht ihr ein Rückzahlungsanspruch gegen den KUNDEN zu, so wird sie in Höhe dieses Anspruchs eine Berichtigungsbuchung
durchführen.
		
	If the ORIGINATOR objects to the correction entry, GE CAPITAL will re-credit the account with the amount in dispute and pursue its repayment claim separately.	  	Erhebt der KUNDE gegen die Berichtigungsbuchung Einwendungen, so wird GE CAPITAL den Betrag dem Konto wieder gutschreiben und ihren Rückzahlungsanspruch gesondert verfolgen.
		
	GE CAPITAL will immediately notify the ORIGINATOR of any reverse entries and correction entries made by it. With respect to the calculation of the Financing Commission per Invoice and the Total Financing Commission, the
entries will take retroactive effect to the day on which the incorrect entry was made.	  	Über Storno-und Berichtigungsbuchungen wird GE CAPITAL den KUNDEN unverzüglich unterrichten. Die Buchungen nimmt GE CAPITAL hinsichtlich der Berechnung der Finanzierungsgebühr auf Einzelrechnungsbasis und der
Gesamtfinanzierungsgebühr rückwirkend zu dem Tag vor, an dem die fehlerhafte Buchung durchgeführt wurde.
		
	16. COLLECTION PROCEDURE	  	16. INKASSOVERFAHREN
		
	16.1 If any Receivables remain unsettled after the third dunning letter, GE CAPITAL will initiate the Collection Procedure.	  	16.1 Wenn Forderungen nach der dritten Mahnung noch offen sind, so leitet GE CAPITAL das Inkassoverfahren ein.
		
	16.2 GE CAPITAL shall inform the ORIGINATOR about any developments in the Collection Procedure if necessary, and shall, in the event of any disputes raised by the Debtor, give the ORIGINATOR the opportunity to provide
comments thereon and introduce such comments in the procedure. GE CAPITAL shall enter into settlement agreements concerning the Eligibility of any Receivable, or Receivables which have not been purchased only with the consent of
the ORIGINATOR.	  	16.2 GE CAPITAL wird den KUNDEN über den Verlauf des Inkassoverfahrens bei Bedarf unterrichten und bei Reklamationen des Abnehmers Gelegenheit zur Stellungnahme geben und diese in das Verfahren
einführen. Vergleiche, die nicht angekaufte Forderungen oder die Einwandfreiheit der Forderung betreffen, wird GE CAPITAL nur im Einverständnis mit dem KUNDEN abschließen.
		
	Considering the above, the ORIGINATOR acknowledges that the results of a legal proceeding between GE CAPITAL and the Debtor are also binding between GE CAPITAL and the ORIGINATOR.	  	Unter Berücksichtigung des Vorstehenden ist der KUNDE an die Ergebnisse eines Rechtsstreits zwischen GE CAPITAL und dem Abnehmer ebenso gebunden, wie zwischen GE CAPITAL und dem KUNDEN.

  
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	16.3 GE CAPITAL shall bear the collection costs for purchased and Eligible Receivables, all other costs shall be borne by the ORIGINATOR.	  	16.3 Die Inkassokosten für gekaufte und einwandfreie Forderungen trägt GE CAPITAL, im Übrigen trägt sie der KUNDE.
		
	All collection costs are initially debited to the Settlement Account. When the Bad Debt Amount is provided, GE CAPITAL shall reimburse such amount for the relevant Receivable.	  	Die Inkassokosten werden zunächst dem Kundenabrechnungskonto belastet. Bei Leistung des Delkrederebetrags erfolgt in Bezug auf die betreffende Forderung eine entsprechende
Erstattung.
		
	GE CAPITAL is entitled to claim an advance in justifiable instances.	  	In begründeten Fällen ist GE CAPITAL berechtigt, einen Vorschuss zu verlangen.
		
	16.4 GE CAPITAL is entitled but shall not be obliged to claim default interest from the Debtor. At the ORIGINATOR’s request, GE CAPITAL shall assign such claims against the Debtor to the
ORIGINATOR.	  	16.4 Zur Geltendmachung von Verzugszinsen gegen den Abnehmer ist GE CAPITAL berechtigt, jedoch nicht verpflichtet. Auf Anforderung des KUNDEN tritt GE CAPITAL diese Ansprüche gegen den Abnehmer
an den KUNDEN ab.
		
	16.5 The ORIGINATOR is obliged to provide GE CAPITAL with documentation necessary for the Collection Procedure and make all relevant disclosures at the latest on the 60th day after the due date of the relevant
Receivable and shall continue to provide such information immediately upon request during the procedure.	  	16.5 Der Kunde ist verpflichtet, GE CAPITAL bis spätestens zum 60. Tag nach Fälligkeit der betreffenden Forderung alle für das Inkassoverfahren erforderlichen Informationen zu übergeben und
während des Verfahrens auf Anfrage unverzüglich alle erforderlichen Informationen zu erteilen
		
	If the ORIGINATOR fails to submit the necessary information in due time, GE CAPITAL may, after having set a reasonable period to provide information, withdraw from the Receivables Purchase Agreement relating to the
relevant Receivable.	  	Kommt der KUNDE seiner Verpflichtung zur Erteilung der erforderlichen Informationen nicht nach, so kann GE CAPITAL, wenn sie zuvor erfolglos eine angemessene Frist zur Informationserteilung bestimmt hat, vom
Forderungskaufvertrag über die betroffene Forderung zurücktreten.
		
	GE CAPITAL declares the withdrawal by rebooking the Receivables from the Factoring Account to the Special Account, provided that the ORIGINATOR does not need to receive a notice of such book
entry.	  	Der Rücktritt erfolgt durch Umbuchung der Forderungen vom Factoringkonto auf das Sonderkonto, ohne dass dem KUNDEN eine gesonderte Buchungsmitteilung zur Verfügung gestellt werden
muss.

  
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	D. GENERAL OBLIGATIONS	  	D. ALLGEMEINE VERTRAGSPFLICHTEN
		
	17. NEGATIVE PLEDGE	  	17. KEINE ANDERWEITIGEN VERFÜGUNGEN
		
	The ORIGINATOR shall not undertake any action or make any declaration intended to create any third party rights in respect of the assigned Receivables and ancillary rights, in particular:	  	Der KUNDE hat alle Rechtsgeschäfte zu unterlassen, die darauf gerichtet sind, Dritten in Bezug auf die abgetretenen Forderungen und Nebenrechte Befugnisse irgendwelcher Art einzuräumen, insbesondere:
		
	(a) security assignments of Receivables;	  	(a) Sicherungszessionen der Forderungen;
		
	(b) collection authorisations of any kind in relation to the Receivables.	  	(b) Einziehungsberechtigungen jeglicher Art in Bezug auf die Forderungen.
		
	18 INCREASED FIDUCIARY DUTY AND DUTY OF CARE	  	18 ERHÖHTE TREUE UND SCHUTZPFLICHT
		
	In the Undisclosed Procedure, Inter-Credit®-Factoring and Smart-Service-Factoring procedure, the ORIGINATOR has an increased fiduciary duty and the
duty of care of a prudent merchant (Sorgfalt eines ordentlichen Kaufmanns), and must exercise such duties in such a manner that GE CAPITAL is in no worse position than if GE CAPITAL had performed the relevant task itself, or the assignment
had been disclosed, as the case may be.	  	Bei stillen Verfahren, dem Inter-Credit®-Factoring und beim Smart-Service-Factoring hat der KUNDE eine erhöhte Treuepflicht und die
Sorgfaltspflicht eines ordentlichen Kaufmanns zu beachten und er muss diesen Pflichten in einer Weise nachkommen, dass GE CAPITAL nicht schlechter steht als wenn GE CAPITAL die jeweilige Aufgabe selbst ausgeführt hätte oder die Abtretung
offengelegt worden wäre.
		
	19. INFORMATION UNDERTAKING	  	19. INFORMATIONSERTEILUNG
		
	19.1 The ORIGINATOR must, at GE CAPITAL’s request, deliver to GE CAPITAL all records that document the Receivables offered for purchase, such as bills of delivery, contracts, order confirmations etc.	  	19.1 Der KUNDE wird auf Verlangen von GE CAPITAL, Unterlagen, welche die zum Kauf angebotenen Forderungen belegen, wie Lieferscheine, Verträge, Auftragsbestätigungen etc., an GE CAPITAL
aushändigen.
		
	19.2 The ORIGINATOR shall inform GE CAPITAL without undue delay of any Circumstances relating to the ORIGINATOR’s enterprise which could reasonably be expected to have a material adverse effect on the ORIGINATOR or its
business or financial condition or on its ability to perform its obligations under this Agreement:	  	19.2 Der KUNDE ist verpflichtet GE CAPITAL unverzüglich über alle Umstände des Unternehmens des KUNDEN zu unterrichten, die vernünftigerweise erhebliche nachteilige Auswirkungen auf den KUNDEN oder sein
Geschäft oder die finanzielle Situation oder seine Fähigkeit zur Erfüllung seiner Verpflichtungen aus diesem Vertrag erwarten lassen:

  
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	The ORIGINATOR shall submit to GE CAPITAL:	  	Der KUNDE übermittelt GE CAPITAL:
		
	(a) financial information, consisting of:	  	(a) Finanzinformationen, bestehend aus:
		
	(i) unaudited and unreviewed monthly and quarterly balance sheet and related income statement of each ORIGINATOR (on a reporting unit level);	  	(i) ungeprüften monatlichen und quartalsmäßigen Bilanzaufstellungen und dazugehörigen Gewinn- und Verlustrechnungen jedes KUNDEN (auf Berichtseinheitsebene);
		
	(ii) annual, and to the extent required by applicable laws, audited balance sheet and related income statement of the ORIGINATOR;	  	(ii) jährlichen, und soweit vom anwendbaren Gesetz vorgeschrieben, geprüften Bilanzen und dazugehörigen Gewinn-und Verlustrechnungen des KUNDEN;
		
	(iii) monthly account payable ledger and, if applicable, monthly tolling report, including but not limited to Tolling/Pseudo Tolling Reimbursement Claims (actual balance at the end of each month);	  	(iii) monatlichen Listen hinsichtlich offener Posten von Kreditoren und, falls zutreffend, monatlichen Beistellungsberichten, einschließlich aber nicht beschränkt aufRückvergütungsansprüche aus
Materialbeistellung (aktuelle Bilanz am Ende jeden Monats);
		
	(iv) monthly VAT Information	  	(iv) monatliche Umsatzsteuerinformationen
		
	(b) any intended changes with respect to the rights of representation, the shareholding, the constitutional documents and intended changes with respect to Affiliated Companies, to the extent that such changes are
relevant for the performance of this Agreement;	  	(b) jede beabsichtigte Veränderung in Bezug auf die Vertretungsverhältnisse, den Gesellschafterbestand, den Gesellschaftsvertrag und die beabsichtigten Veränderungen in Bezug auf die nahestehenden
Unternehmen, sofern diese für die Erfüllung dieses Vertrages wesentlich sind;
		
	(c) any financing arrangements with any other financial institutions including security agreements, provided such financing (i) exceeds EUR 10,000,000, or (ii) is secured by any kind of security or by a sale of
receivables,	  	(c) wesentliche Änderungen von Kreditvereinbarungen mit anderen Kreditinstituten einschließlich Sicherungsabreden, vorausgesetzt, eine solche Finanzierung (i) übersteigt EUR 10.000.000 oder (ii) ist durch irgend ein
Sicherungsmittel oder durch den Verkauf von Forderungen abgesichert,

  
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	(d) any restriction of the authorisation to resell retained goods and/or collect Receivables, if and to the extent the ORIGINATOR is or should be aware – considering the duty of care of a prudent merchant (Sorgfalt eines
ordentlichen Kaufmanns) – of such restriction,	  	(d) Einschränkungen von Ermächtigungen zur Weiterveräußerung der Vorbehaltsware und/oder zum Einzug der verkauften Forderungen, wenn und soweit dem KUNDEN, unter Beachtung der Pflichten und der Sorgfalt
eines ordentlichen Kaufmanns, eine solche Einschränkung bewusst ist oder bewusst war,
		
	(e) any substantial deterioration in the ORIGINATOR’s general financial and business condition.	  	(e) jede wesentliche Verschlechterung der allgemeinen Vermögens- und Geschäftssituation des KUNDEN.
		
	19.3 The ORIGINATOR is obliged to inform GE CAPITAL of any circumstances of which it may become aware concerning the risk of the Debtor of being unable to pay debts as they fall due except if the
ORIGINATOR is legally prevented from such disclosure and the ORIGINATOR’s non compliance with applicable confidentiality agreements will expose the ORIGINATOR to damage claims by its respective Debtor(s).	  	19.3 Der KUNDE ist verpflichtet, GE CAPITAL über alle ihm bekannt werdenden Umstände, welche das Risiko der Zahlungsunfähigkeit eines Abnehmers betreffen, zu unterrichten, es sei denn, dem
KUNDEN ist eine solche Offenlegung gesetzlich untersagt und durch diese Nichtbeachtung betreffenden Vertraulichkeitsvereinbarungen des KUNDEN wird der KUNDE Schadensersatzansprüchen seiner jeweiligen Abnehmer ausgesetzt.
		
	19.4 The ORIGINATOR is obliged to provide GE CAPITAL with all information and documents necessary for GE CAPITAL to perform its obligations under the Anti-Money-Laundering Act and to inform GE CAPITAL without undue delay of
any relevant changes during the course of the business relationship.	  	19.4 Der KUNDE ist verpflichtet, GE CAPITAL alle notwendigen Informationen und Unterlagen zur Verfügung zu stellen, damit GE CAPITAL seine Verpflichtungen nach dem Anti-Geldwäsche-Gesetz erfüllen kann und GE
CAPITAL unverzüglich über wesentliche Änderungen im Laufe der Geschäftsbeziehung zu informieren.
		
	19.5 The ORIGINATOR undertakes to provide GE CAPITAL with all relevant information pursuant to this clause 19 (Information Undertaking) which is to be provided on a monthly/quarterly basis within 45
(forty-five) days after the end of the respective month/calendar quarter, and information which is to be provided annually within 150 (one-hundred-and-fifty) days after the end of the ORIGINATOR’s financial year, provided that for the financial
year of 2011 the ORIGINATOR shall provide (i) the quarterly information to be provided for 31 March 2011 and 30 June 2011 within 75 (seventy-five) days, and the information to be provided for 30 	  	19.5 Der KUNDE verpflichtet sich, GE CAPITAL die monatlich/quartalsweise zur Verfügung zu stellenden Informationen innerhalb von 45 (fünfundvierzig) Tagen nach Ablauf des jeweiligen 15 Monats/Kalenderquartals
entsprechend dieser Ziffer 19 (Informationspflicht) zur Verfügung zu stellen, und die jährlich zur Verfügung zu stellenden Informationen innerhalb von 150 (einhundertfünfzig) Tagen nach Ablauf des Geschäftsjahres des
KUNDEN zur Verfügung zu stellen, mit der Ausnahme, dass der KUNDE für das Geschäftsjahr 2011, (i) die quartalsmäßig zur Verfügung zu stellenden Informationen für die am 31. März 2011
und

  
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	September 2011 and 31 December 2011 within 60 (sixty) days and (ii) the information to be provided annually (for 31 December 2010) within 180 days.	  	30. Juni 2011 endenden Quartale innerhalb von 75 (fünfundsiebzig) Tagen, und die am 30. September 2011 und 31. Dezember 2011 endenden Quartale innerhalb von 60 (sechzig) Tagen zur Verfügung stellt, und (ii) die
jährlich (zum 31. Dezember 2010) zur Verfügung zu stellenden Informationen innerhalb von 180 Tagen zur Verfügung stellt.
		
	If in the case of any unforeseeable event or under any exceptional circumstances reasonably evidenced by the ORIGINATOR, the ORIGINATOR should not be able to deliver the annual reports within 150 (one-hundredand-fifty) days after
the end of the financial year, a further cure period shall be mutually agreed between the ORIGINATOR and GE CAPITAL.	  	Sollte es wegen eines nicht vorhersehbaren Ereignisses oder unter außergewöhnlichen Umständen, die vom KUNDEN vernünftig bewiesen werden, dem KUNDEN nicht möglich sein, die jährlichen Berichte
innerhalb von 150 (einhundert-fünfzig) Tagen nach Ablauf des Geschäftsjahres, zur Verfügung zu stellen, werden sich der KUNDE und GE CAPITAL auf eine zusätzliche Heilungsfrist einigen.
		
	20. EXTERNAL AUDIT, DECLARATION OF CONSENT	  	20. AUSSENPRÜFUNG, EINWILLIGUNGSERKLÄRUNG
		
	GE CAPITAL is entitled to perform an external audit at the ORIGINATOR’s business premises at any time during customary business hours, at least twice per year, whereas GE CAPITAL shall give the ORIGINATOR at least two weeks
prior written notice regarding such regular audits, notwithstanding GE CAPITAL’s right to perform additional audits without prior notice in case GE CAPITAL has reason to believe that observance of such notice period will adversely affect the
interest of GE CAPITAL.	  	GE CAPITAL ist in den Geschäftsräumen des KUNDEN und zu den üblichen Geschäftszeiten mindestens zweimal pro Jahr zur Durchführung einer regulären Außenprüfung berechtigt, wobei GE CAPITAL dem
KUNDEN eine solche Prüfung mindestens zwei Wochen vorher schriftlich ankündigt, unbeschadet GE CAPITAL’s Recht, zusätzliche Prüfungen ohne vorherige Ankündigung durchzuführen, wenn GE CAPITAL Grund zur Annahme hat,
dass eine solche Ankündigung die Interessen von GE CAPITAL nachteilig beeinflussen wird.
		
	GE CAPITAL is entitled to review and make copies of all books, records and other documents of the ORIGINATOR relating to the factoring arrangement and its performance. The ORIGINATOR is obliged to support GE CAPITAL and provide
comprehensive information.	  	GE CAPITAL ist berechtigt, alle das Factoringverhältnis betreffenden Bücher, Schriften und sonstigen Unterlagen des KUNDEN einzusehen und sich Ablichtungen hiervon anzufertigen. Der KUNDE hat GE CAPITAL hierbei zu
unterstützen und umfassend Auskunft zu erteilen.

  
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	GE CAPITAL’s right to receive information shall also include the right to receive information from the tax advisor, auditor or any other person who keeps the accounts or prepares, establishes or audits the annual report for the
ORIGINATOR. The ORIGINATOR hereby releases such persons vis-à-vis GE CAPITAL from their professional duty of confidentiality.	  	Dieses Informationsrecht von GE CAPITAL erstreckt sich auch darauf, diesbezügliche Auskünfte von dem Steuerberater, Wirtschaftsprüfer oder jeder anderen Person, die die Buchhaltung führt oder die Bilanz
vorbereitet, erstellt oder prüft, einzuholen. Der KUNDE befreit diese Personen gegenüber GE CAPITAL hiermit von ihrer Schweigepflicht.
		
	The right of GE CAPITAL to collect, process and utilise data and the release from its obligations under the Banking Secrecy is set out in schedule 2 (Declaration of Consent), and is granted within the boundaries of this
agreement and applicable data protection rules. Furthermore, GE CAPITAL agrees to treat such information GE CAPITAL has received and which is subject to confidentiality agreements between the ORIGNATOR and third parties, also confidential.	  	Das Recht von GE CAPITAL, Daten zu erheben, zu verarbeiten und zu nutzen und ihre Verpflichtungen gemäß dem Bankgeheimnis offenzulegen ist in Anhang 2 (Einverständniserklärung) festgelegt und wird
innerhalb der Grenzen dieses Vertrages und der anwendbaren Datenschutzregeln gewährt. Ferner akzeptiert GE CAPITAL, solche Informationen, die GE CAPITAL erhalten hat und die Gegenstand von Vertraulichkeitserklärungen zwischen dem KUNDEN
und Dritten sind, ebenfalls vertraulich zu behandeln.
		
	21. ARRANGEMENTS IN DEBTOR AGREEMENTS	  	21. VERTRAGSGESTALTUNG GEGENÜBER ABNEHMERN
		
	The ORIGINATOR shall use Reasonable Efforts and shall provide GE CAPITAL with reasonable evidence that its agreements with any Debtors, in particular its standard business conditions applicable to its agreements with
any other Debtor, contain the following terms:	  	Der KUNDE wird sich angemessen bemühen und weist gegenüber GE CAPITAL nach, dass jeder Vertrag von GE CAPITAL mit seinen Abnehmern, insbesondere seine auf Verträge mit allen anderen Abnehmern
anwendbaren Allgemeinen Geschäftsbedingungen, Folgendes regeln:
		
	(a) Standard business conditions of any Debtor which are in conflict with the ORIGINATOR’s standard business conditions shall have no effect.	  	(a) Die Geltung von Allgemeinen Geschäftsbedingungen des Abnehmers, die den Allgemeinen Geschäftsbedingungen des KUNDEN widersprechen, wird ausgeschlossen.
		
	(b) The standard terms and conditions of the ORIGINATOR provide for a right to assign Receivables against the relevant Debtor to a third party and in case of customer contracts, such right is not expressly excluded.	  	(b) Die Allgemeinen Geschäftsbedingungen des KUNDEN beinhalten ein Recht zur Abtretung von Forderungen gegen den jeweiligen Abnehmer an einen Dritten und Kundenverträge dürfen ein solches Recht nicht
ausdrücklich ausschließen.

  
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	(c) The business relationship between Debtor and the ORIGINATOR shall be governed by German law and in case of customer contracts, any other laws under which Receivables are assignable pursuant to this agreement; the
place of jurisdiction shall be at the registered seat of the ORIGINATOR, and in case of customer contracts, either at the registered seat of the ORIGINATOR or at the registered seat of the relevant Debtor.	  	(c) Für die Geschäftsbeziehung zwischen dem Abnehmer und dem KUNDEN gilt deutsches Recht und, bei Kundenverträgen, gilt jedes andere Recht nach dem die Forderungen entsprechend dieses Vertrages abtretbar
sind; der Gerichtsstand ist der Sitz des KUNDEN und, bei Kundenverträgen, entweder der Sitz des KUNDEN oder der Sitz des jeweiligen Abnehmers.
		
	(d) The standard terms and conditions shall include, and the ORIGINATOR shall use Reasonable Efforts to implement into customer agreements, all customary and permissible security arrangements, in particular retention
of title arrangements, including any forms of extension and augmentation of such retention of title arrangements.	  	(d) Die Allgemeinen Geschäftsbedingungen müssen alle branchenüblichen und zulässigen Sicherungsabreden, insbesondere den Eigentumsvorbehalt mit seinen Erweiterungs- und Verlängerungsformen enthalten,
und der KUNDE wird sich angemessen bemühen, diese Bedingungen in Kundenverträge aufzunehmen.
		
	(e) The standard terms and conditions shall exclude any set-off or retention rights of Debtors, unless such rights are undisputed or declared final by and unappealable judgement.	  	(e) Die Allgemeinen Geschäftsbedingungen schließen alle Aufrechnungs16 oder Zurückbehaltungsrechte der Abnehmer aus, es sei denn, diese Rechte sind unbestritten oder rechtskräftig festgestellt
worden.
		
	(f) The standard terms and conditions shall provide for a right to accelerate all Receivables against the relevant Debtor, if such Debtor is in payment default with any Receivable.	  	(f) Die Allgemeinen Geschäftsbedingungen sehen ein Recht zur Beschleunigung aller Forderungen gegen den jeweiligen Abnehmer vor, wenn dieser Abnehmer mit einer Forderung in Zahlungsverzug gerät.
		
	(g) The standard terms and conditions shall provide that the Debtor shall bear all fees, costs and expenses incurred in connection with any legal proceedings successfully instituted against it outside of Germany.	  	(g) Die Allgemeinen Geschäftsbedingungen sehen vor, dass der Abnehmer alle Gebühren, Kosten und Auslagen trägt, die im Zusammenhang mit einer erfolgreich eingeleiteten Rechtsverfolgung gegen ihn außerhalb
Deutschlands anfallen.
		
	“Reasonable Efforts” as used in this Clause 21 means	  	“sich angemessen bemühen” gemäß Ziffer 21 bedeutet
		
	(i) with respect to the ORIGINATOR’s standard business conditions that the ORIGINATOR will implement outstanding aspects in the course of the next revision of the ORIGINATOR’s standard business conditions, and	  	(i) im Hinblick auf die Allgemeinen Geschäftsbedingungen des KUNDEN, dass der KUNDE die offenen Punkte im Zuge der Neugestaltung seiner Allgemeinen Geschäftsbedingungen umsetzen wird, und

  
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	(ii) with respect to existing agreements with Debtors that the ORIGINATOR will use reasonable efforts to implement the requested provisions at the next renegotiation of existing supply agreements,	  	(ii) im Hinblick auf bestehende Verträge mit Abnehmern, dass der KUNDE sich zur Umsetzung der geforderten Bestimmungen bei der nächsten Wiederverhandlung existierender Lieferverträge angemessen bemühen
wird,
		
	in each case unless the ORIGINATOR is aware and has GE CAPITAL informed that such request will have a material adverse effect on the ORIGINATOR’s business relationship and the commercial conditions with such Debtor. The
ORIGINATOR will liaise with GE CAPITAL prior to the revision of its standard business conditions with respect to agreeing on the priority of implementing any outstanding aspects.	  	in jedem Fall, soweit dem KUNDE bewusst ist und er GE CAPITAL darüber informiert hat, dass dieses Begehren eine erhebliche nachteilige Wirkung auf die Geschäftsbeziehung des KUNDEN und die kaufmännischen
Vertragsbedingungen mit dem Abnehmer hat. Der KUNDE wird vor der Überarbeitung seiner Allgemeinen Geschäftsbedingungen im Hinblick auf die Einigung der Dringlichkeit der Umsetzung der offenen Punkte mit GE CAPITAL in Verbindung
treten.
		
	E. OTHER TERMS	  	E. SONSTIGE REGELUNGEN
		
	22. SET-OFF, SETTLEMENT, REIMBURSEMENT CLAIMS	  	22. AUFRECHNUNG, VERRECHNUNG, RÜCKVERGÜTUNGSANSPRÜCHE
		
	22.1 All claims of GE CAPITAL and the ORIGINATOR against each other arising from any legal relationship may be set off against each other by GE CAPITAL.	  	22.1 Sämtliche wechselseitigen Ansprüche zwischen GE CAPITAL und dem KUNDEN, gleich aus welchem Rechtsverhältnis, dürfen durch GE CAPITAL gegeneinander aufgerechnet werden.
		
	22.2 Following the cancellation of a Debtor Limit, GE CAPITAL may, in relation to the ORIGINATOR, set off payments received from the relevant Debtor against Receivables purchased from such
Debtor (irrespective of the Debtor’s appropriation of payment) provided that the application shall not affect the rights of any Retaining Supplier. The same shall apply mutatis mutandis to Credit Notes issued to a
Debtor and enforcement proceeds, if any.	  	22.2 Zahlungen eines Abnehmers, die nach Streichung eines für diesen festgesetzten Abnehmerlimits eingehen, darf GE CAPITAL im Verhältnis zum KUNDEN (unabhängig von der
Zahlungszweckbestimmung des Abnehmers) auf gekaufte Forderungen gegen denselben Abnehmer aufrechnen, vorausgesetzt, dass durch die Aufrechnung die Rechte von Vorbehaltslieferanten nicht beeinträchtigt werden. Falls
einschlägig, soll dasselbe entsprechend für die an einen Abnehmer ausgegebenen Gutschriften sowie für die Verwertung gelten.

  
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	22.3 Unless expressly agreed otherwise, all claims and receivables of GE CAPITAL against the ORIGINATOR arising from this agreement fall due with immediate effect.	  	22.3 Sofern nicht ausdrücklich anders vereinbart, werden alle Ansprüche und Forderungen gegen GE CAPITAL gegen den KUNDEN aus dieser Vereinbarung mit sofortiger Wirkung fällig.
		
	22.4 The ORIGINATOR may only set off its claims against claims of GE CAPITAL if the ORIGINATOR’s claims are undisputed or have been confirmed by an unappealable court decision.	  	22.4 Der KUNDE kann gegen Ansprüche von GE CAPITAL nur aufrechnen, wenn seine Forderungen unbestritten oder rechtskräftig festgestellt sind.
		
	22.5 The ORIGINATOR shall keep GE CAPITAL continuously informed about agreements with Debtors from which Reimbursement Claims may arise. Such agreements do not affect the Eligibility of
Receivables if the Reimbursement Claims have been secured in accordance with the following terms:	  	22.5 Der KUNDE unterrichtet GE CAPITAL fortlaufend über Vereinbarungen mit den Abnehmern, bei denen Rückvergütungsansprüche geltend gemacht werden können. Diese
Vereinbarungen haben keinen Einfluss auf die Einwandfreiheit der Forderungen, wenn die Rückvergütungsansprüche gemäß den folgenden Regelungen gesichert sind:
		
	GE CAPITAL is entitled to establish a reserve or (at its choice) demand security deposits from the ORIGINATOR in the anticipated amount of the Reimbursement Claims. The ORIGINATOR is entitled to provide a security
deposit in order to discharge a reserve at any time. When determining the anticipated amount of the Reimbursement Claims, future Reimbursement Claims shall also be considered. These are claims that are certain or likely to arise in the
future, but which amount and/or time of origination is still uncertain. To the extent that the determination of such claims depends on future events (e.g. development of sales), the amount shall be determined by way of estimate, in the absence of
other indicators on the basis of historical data.	  	GE CAPITAL ist berechtigt, einen Einbehalt oder (nach ihrer Wahl) Sicherheitsleistung vom KUNDEN in der erwarteten Höhe der Rückvergütungsansprüche zu verlangen. Der KUNDE ist berechtigt, den
Einbehalt durch eine Sicherheitsleistung abzulösen. Bei der Ermittlung der zu erwartenden Höhe der Rückvergütungsansprüche sind künftige Rückvergütungsansprüche ebenfalls zu
berücksichtigen. Dies sind Ansprüche, die mit Sicherheit oder mit Wahrscheinlichkeit in der Zukunft entstehen, bei denen aber der Betrag und/oder der Zeitpunkt der Entstehung noch ungewiss sind. Soweit die Bestimmung solcher Ansprüche
von zukünftigen Ereignissen abhängen (z.B. Umsatzentwicklung), wird der Betrag im Wege der Schätzung ermittelt, in Ermangelung anderer Indikatoren, werden sie auf der Grundlage historischer Daten ermittelt.
		
	GE CAPITAL determines the amount of Reimbursement Claims considering all circumstances in its reasonable discretion on a monthly basis, by the end of each month at the latest.	  	GE CAPITAL bestimmt die Höhe der Rückvergütungsansprüche auf monatlicher Basis, spätestens bis zum Ende eines jeden Monats, unter Berücksichtigung aller Umstände nach billigem
Ermessen.

  
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	Immediately after the end of each month, the ORIGINATOR shall demonstrate the anticipated amount of Reimbursement Claims in a testable manner.	  	Unmittelbar nach dem Ende eines jeden Monats zeigt der KUNDE den erwarteten Betrag der Rückvergütungsansprüche in nachvollziehbarer 17 Weise an.
		
	The reserve is established by debiting the Settlement Account and crediting the Reserve Account by the relevant amount. If the anticipated amount of the Reimbursement Claims is reduced, the Reserve
Account will be debited by such reduction and a respective credit will be booked on the Settlement Account.	  	Der Einbehalt ist durch Abbuchung auf dem Kundenabrechnungskonto und Gutschrift auf dem Rückstellungskonto um den jeweiligen Betrag festgelegt. Wenn der voraussichtliche Betrag der
Rückvergütungsansprüche gemindert ist, wird das Rückstellungskonto in Höhe dieser Minderung belastet und eine entsprechende Gutschrift auf dem Kundenabrechnungskonto gebucht.
		
	Security deposits will be provided by payment by the ORIGINATOR to GE CAPITAL, whereby the amount is credited to the Reserve Account and any dissolution is debited on the Reserve Account and credited on the
Settlement Account.	  	Die Sicherheitsleistungen werden GE CAPITAL durch Zahlung des KUNDEN zur Verfügung gestellt, wodurch der Betrag dem Rückstellungskonto gutgeschrieben wird und die Liquidation dem Kundenabrechnungskonto
belastet wird.
		
	The reserve and the security deposit shall primarily secure GE CAPITAL against setoffs or settlements by Debtors with Reimbursement Claims. To the extent that such claims are legally and validly raised, GE
CAPITAL is entitled to receive the relevant amounts like Debtors’ payments.	  	Der Einbehalt und die Sicherheitsleistung werden in erster Linie GE CAPITAL gegen Aufrechnungen oder Zurückbehaltungsrechte der Abnehmer mit Rückvergütungsansprüchen sichern. Soweit solche
Ansprüche rechtmäßig geltend gemacht werden, ist GE CAPITAL berechtigt, die entsprechenden Beträge, wie Abnehmerzahlungen, zu erhalten.
		
	In addition, the reserve and the security deposit shall secure any and all existing and future claims which GE CAPITAL may have against the ORIGINATOR in connection with their business relationship.	  	Darüber hinaus müssen der Einbehalt- und die Sicherheitsleistung alle bestehenden und künftigen Ansprüche von GE CAPITAL gegen den Abnehmer im Zusammenhang mit ihrer Geschäftsbeziehung sichern.
		
	Clause 22.5 shall apply mutatis mutandis for Tolling/Pseudo Tolling Reimbursement Claims.	  	Ziffer 22.5 gilt sinngemäß für Rückvergütungsansprüche aus Materialbeistellungen.

  
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	23. CHANGES IN THE FINANCING COMMISSION PER INVOICE/TOTAL FINANCING COMMISSION	  	23. ÄNDERUNG DER FINANZIERUNGSGEBÜHR AUF EINZELRECHNUNGSBASIS/GESA MTFINANZIERUNGSGEBÜHR,
		
	The applicable Financing Commission per Invoice/Total Financing Commission and any changes to the Financing Commission per Invoice/Total Financing Commission during the term of this Agreement are set out in
schedule 1 (Terms and Conditions).	  	Die anwendbare Finanzierungsgebühr auf Einzelrechnungsbasis/ Gesamtfinanzierungsgebühr und Änderungen der Finanzierungsgebühr auf Einzelrechnungsbasis/ Gesamtfinanzierungsgebühr
während der Laufzeit dieses Vertrages sind in Anhang 1 (Konditionen) geregelt.
		
	Payments of Debtors are settled at the current market rate.	  	Abnehmerzahlungen werden zum aktuellen Marktkurs festgelegt.
		
	24. FEES AND EXPENSES	  	24. ENTGELTE UND AUSLAGEN
		
	The amount of fees is set out in schedule 1 (Terms and Conditions).	  	Die Höhe der Gebühren ist in Anhang 1 (Konditionen) festgelegt.
		
	If a service provided by GE CAPITAL is required by law or secondary contractual obligation, or is provided in GE CAPITAL’s own interest, such service will be free of charge, unless the charging of fees is legally permitted and
occurs in accordance with the relevant statutory provision.	  	Wenn eine Leistung, die GE CAPITAL von Gesetzes wegen oder aufgrund vertraglicher Nebenpflicht oder im eigenen Interesse anbietet, ist diese Leistung gebührenfrei, es sei denn die Gebührenerhebung ist rechtlich
zulässig und geschieht in Übereinstimmung mit den maßgeblichen gesetzlichen Bestimmungen.
		
	The ORIGINATOR will bear all customary account keeping and payment transaction fees, as well as any expenses that may be incurred by GE CAPITAL acting upon its instructions or in its presumed interest.	  	Der KUNDE trägt alle gewöhnlichen Kontoführungsgebühren und Gebühren für die Zahlungstransaktion sowie die Kosten, die GE CAPITAL dadurch entstehen, dass sie nach seinen Anweisungen oder in seinem
mutmaßlichen Interesse handelt.
		
	The ORIGINATOR undertakes to reimburse GE CAPITAL from all costs and expenses (including legal fees) incurred by GE CAPITAL in connection with the formalities required to be carried out for the enforceability of the transfers
or Receivables being made pursuant to the Factoring Agreement.	  	Der KUNDE verpflichtet sich gegenüber GE CAPITAL zur Erstattung aller Kosten und Ausgaben (einschließlich Anwaltskosten), die GE CAPITAL im Zusammengang mit den Formalitäten entstehen, die zur Durchsetzbarkeit der
Forderungsübertragung gemäß des Factoringvertrages anfallen.

  
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	25. ASSIGNABILITY OF CLAIMS AGAINST GE CAPITAL	  	25. ABTRETBARKEIT DER ANSPRÜCHE GEGEN GE CAPITAL
		
	Any claims that the ORIGINATOR may have against GE CAPITAL may only be assigned to third parties with the consent of GE CAPITAL.	  	Alle Ansprüche, die dem KUNDEN gegen GE CAPITAL zustehen können nur mit Einwilligung von GE CAPITAL abgetreten werden.
		
	GE CAPITAL may decline its consent for good cause; such cause will be assumed in particular if GE CAPITAL has reason to believe that the intended assignment would be disadvantageous to suppliers of the ORIGINATOR.	  	GE CAPITAL kann die Zustimmung aus wichtigem Grund verweigern; ein solcher liegt insbesondere dann vor, wenn die beabsichtigte Abtretung Anlass zu der Annahme bietet, dass sie für die Lieferanten des KUNDEN nachteilig
ist.
		
	26. COMMENCEMENT, EXPIRATION, TERMINATION	  	26. VERTRAGSBEGINN, VERTRAGSENDE, KÜNDIGUNG
		
	26.1 The Commencement Date and Expiration Date of this agreement are set out in schedule 1 (Terms and Conditions).	  	26.1 Vertragsbeginn und Ablaufdatum sind in Anhang 1 (Konditionen) festgelegt.
		
	Unless this agreement is terminated with three months’ notice prior to its scheduled Expiration Date, it shall be extended by another year. The same shall apply to any subsequent periods.	  	Wird der Vertrag nicht drei Monate vor Ablaufdatum gekündigt, verlängert er sich um ein weiteres Jahr. Entsprechendes gilt für die Folgeperioden.
		
	The ORIGINATOR is entitled to terminate this agreement subject to (i) 30 days’ prior notice to be sent to GE CAPITAL and to the respective other ORIGINATOR and (ii) to the payment by the ORIGINATOR of an early
termination premium as set out in the Fee Letter. Each ORIGINATOR shall, to the extent possible, specify in the termination notice whether the agreement shall be terminated by way of buy-back in full of the outstanding Receivables or by way
of amortization of the portfolio of Receivables.	  	Der KUNDE ist berechtigt, diesen Vertrag vorbehaltlich (i) vorheriger 30- tägiger Mitteilung, die an GE CAPITAL und den entsprechenden anderen KUNDEN gesendet werden muss und (ii) der Zahlung einer vorzeitigen
Kündigungsprämie durch den KUNDEN gemäß des Fee Letter zu kündigen. Jeder KUNDE führt, soweit möglich, in der Kündigungsmitteilung aus, ob die Kündigung dieses Vertrages durch vollständigen
Rückkauf der ausstehenden Forderungen oder durch Amortisierung des Forderungsportfolios erfolgen soll.
		
	For the avoidance of doubt, upon termination of this agreement (such termination to occur at the end of the notice period specified above) and subject to the payment of the early termination premium, (a) each ORIGINATOR	  	Um Zweifel auszuräumen: Bei Kündigung dieses Vertrags (die zum Ablauf der oben genannten Kündigungsfrist eintritt) und vorbehaltlich der Zahlung der vorzeitigen Kündigungsprämie, (a) bietet kein
KUNDE

  
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	shall no longer make offers to GE CAPITAL for the purchase of Receivables, (b) GE CAPITAL shall not be committed any longer to purchase the Receivables from any ORIGINATOR, (c) the Unused Facility Fee (as defined in
Schedule 1) and the Factoring Commission shall no longer be payable by the ORIGINATOR to GE CAPITAL, and (d) GE CAPITAL will cease to be subject to any obligations under this agreement other than obligations outstanding on the date of
termination.	  	GE CAPITAL weiterhin Forderungen zum Verkauf an, (b) GE CAPITAL ist nicht länger zum Ankauf von Forderungen von KUNDEN verpflichtet, (c) der Bereitstellungsbetrag (wie in Anhang 1 definiert) und die
Factoringgebühr müssen nicht länger von dem KUNDEN an GE CAPITAL gezahlt werden, und (d) GE CAPITAL wird keine Verpflichtungen mehr nach diesem Vertrag haben, mit Ausnahme der zum Zeitpunkt der Kündigung ausstehenden
Verpflichtungen.
		
	Provided the ORIGINATOR requests to buyback the Receivables, the parties shall then agree in good faith during the notice period referred to above on the terms of the buyback documentation and the buy-back will be implemented
as soon as reasonably practicable following termination of this agreement.	  	Wenn der KUNDE den Rückkauf der Forderungen verlangt, vereinbaren die Parteien in Treu und Glauben während der oben genannten Kündigungsfrist die Bedingungen der Rückkaufdokumentation und der Rückkauf
wird, nach der Kündigung dieses Vertrags und sobald eine vernünftige Durchführung möglich ist, umgesetzt.
		
	The buy-back will be completed on the date on which the outstanding Receivables are transferred back to the ORIGINATOR having originated such Receivables and an amount equal to the outstanding amount funded by GE
CAPITAL to acquire such outstanding Receivables plus accrued funding cost is paid to GE CAPITAL.	  	Der Rückkauf wird zum Zeitpunkt beendet sein, an dem die ausstehenden Forderungen an den Kunden zurücküberwiesen werden, der diese Forderung begründet hat und ein Betrag an GE CAPITAL bezahlt
wird, der sich mit dem ausstehenden Betrag deckt, der von GE CAPITAL zum Erwerb solcher ausstehender Forderungen zuzüglich angefallener Kosten finanziert wird.
		
	26.2 Each party may terminate the factoring agreement for good cause without observing any notice period. Good cause is shown if, considering all circumstances of the individual case and weighing the interests of both
parties, the terminating party cannot reasonably be expected to continue the contractual relationship until the end of the notice period in accordance with clause 26.1.	  	26.2 Jeder Vertragspartner kann den Factoringvertrag aus wichtigem Grund ohne Einhaltung einer Kündigungsfrist kündigen. Ein wichtiger Grund liegt vor, wenn dem kündigenden Teil unter Berücksichtigung
aller Umstände des Einzelfalls und unter Abwägung der beiderseitigen Interessen die Fortsetzung des Vertragsverhältnisses nicht bis zum Ablauf der Kündigungsfrist gemäß Ziffer 26.1 zugemutet werden kann.
		
	If the good cause results from a breach of a contractual obligation, unless the breach of a contractual obligation is based on fraud termination shall only be permitted after expiry	  	Besteht der wichtige Grund in der Verletzung einer Pflicht aus dem Vertrag, ausgenommen die Vertragsverletzung beruht auf Betrug, ist die Kündigung erst nach erfolglosem
Ablauf

  
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	of a reasonable period of time set for remedy to no avail, or after a dissuasion has proved to be unsuccessful, unless this proviso can be dispensed with because of the particularities of the individual case.	  	einer zur Abhilfe bestimmten angemessenen Frist oder nach erfolgloser Abmahnung zulässig, es sei denn, dies ist wegen der Besonderheiten des Einzelfalls entbehrlich.
		
	GE CAPITAL is in particular entitled to terminate for good cause	  	Für GE CAPITAL liegt ein wichtiger Grund für eine Kündigung insbesondere vor,
		
	(a) if the ORIGINATOR is in substantial breach of clause 5 (for the avoidance of doubt, notwithstanding the ORIGINATOR’s rights under clause 26.2, sub-clause 2 above), 12, 13, 18 or 19, or	  	(a) wenn der KUNDE wesentlich gegen Ziffern 5 (um Zweifel auszuräumen, unbeschadet der Rechte des KUNDEN nach Ziffer 26.2, Absatz 2 oben), 12, 13, 18 oder 19 verstößt, oder
		
	(b) if the ORIGINATOR made incorrect statements about its financial condition that were of fundamental significance for GE CAPITAL’s decision about risk relevant operations, in particular, but not limited to, with
respect to GE CAPITAL’s credit decision (Kreditentscheidung), or	  	(b) wenn der KUNDE unrichtige Angaben über seine Vermögensverhältnisse gemacht hat, die für eine Entscheidung von GE CAPITAL über mit Risiken behafteten Geschäften von erheblicher Bedeutung waren,
insbesondere im Hinblick auf GE CAPITAL’s Kreditentscheidung, aber nicht beschränkt hierauf), oder
		
	(c)—intentionally left blank—	  	(c) —absichtlich freigelassen—
		
	(d) if a substantial deterioration in the ORIGINATOR’s financial condition or of the value of a security interest occurs or threatens to occur which would jeopardize the fulfilment of an obligation vis-à-vis GE CAPITAL,
even if security provided therefore is realised, or	  	(d) wenn eine wesentliche Verschlechterung der Vermögensverhältnisse des KUNDEN oder der Werthaltigkeit einer Sicherheit eintritt oder einzutreten droht und dadurch die Erfüllung einer Verbindlichkeit
gegenüber GE CAPITAL – auch unter Verwertung einer hierfür bestehenden Sicherheit – gefährdet ist, oder
		
	(e) if the ORIGINATOR fails to comply within a reasonable time period set by GE CAPITAL with its obligation to create security pursuant to this agreement or any other agreement pertaining to the factoring transaction, or	  	(e) wenn der KUNDE seiner Verpflichtung zur Bestellung von Sicherheiten aufgrund dieses Vertrages oder sonstigen die Factoringtransaktion betreffenden Vereinbarung nicht innerhalb der von GE CAPITAL gesetzten angemessenen Frist
nachkommt, oder
		
	(f) if the Group fails to comply with the financial covenants as set out in section 8 (Undertakings) of the Intercreditor Agreement, or	  	(f) wenn die Gruppe die Finanzkennzahlen, wie sie in Ziffer 8 (Verpflichtungen) des Interkreditorvertrags geregelt sind, nicht einhält, oder

  
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	(g) if the French RPA has been terminated;	  	(g) wenn das Französische RPA gekündigt wird;
		
	in each case of (f) and (g) provided that such failure (if capable of remedy) continues unremedied for a period of ten (10) Business Days after the date on which the Parent Company has received a notice
from GE CAPITAL requiring the same to be remedied.	  	in jedem in (f) und (g) geregelten Fall jedoch unter der Voraussetzung, dass der Grund (sofern Abhilfe möglich ist) für einen Zeitraum von zehn (10) Geschäftstagen nachdem das Mutterunternehmen eine
Benachrichtigung von GE CAPITAL bekommen hat, den Grund zu beheben, nicht behoben wird.
		
	Statutory termination rights for good cause shall remain unaffected.	  	Gesetzliche Kündigungsrechte aus wichtigem Grund bleiben unberührt.
		
	26.4 Any termination notice must be made in writing.	  	26.4 Die Kündigung bedarf der Schriftform.
		
	26.5 Upon termination of this agreement, all purchase offers, which have not yet been accepted, shall expire. All pending transactions shall be unwound in accordance with this agreement.	  	26.5 Mit Vertragsende erlöschen alle bis zu diesem Zeitpunkt noch nicht angenommenen Kaufangebote. Die noch schwebenden Geschäfte werden nach Maßgabe dieses Vertrages abgewickelt.
		
	GE CAPITAL will, after satisfaction of all of its claims arising from the business relationship with the ORIGINATOR, reassign to the ORIGINATOR all outstanding Receivables, which have not been purchased.	  	GE CAPITAL wird nach Erfüllung aller Ansprüche, die ihr aus der Geschäftsbeziehung mit dem KUNDEN zustehen, die noch nicht eingezogenen und nicht angekauften Forderungen an den KUNDEN
zurückabtreten.
		
	27. FURTHER ELEMENTS OF THIS AGREEMENT	  	27. WEITERE VERTRAGSBESTAND-TEILE
		
	The following Schedules form an integral part of this Agreement:	  	Die folgenden Anhänge stellen Vertragsbestandteile dar:
		
	Schedule 1 (Terms and Conditions)	  	Anhang 1 (Konditionen)
		
	In the event of any discrepancies between Schedule 1 (Terms and Conditions) and this agreement, the provisions of Schedule 1 (Terms and Conditions) shall prevail.	  	Bei Abweichungen zwischen Anlage 1 (Konditionen) und diesem Vertrag, gehen die in Anlage 1 (Konditionen) getroffenen Regelungen vor.
		
	Schedule 1a (Excluded Debtors)	  	Anhang 1a (Ausgenommene Abnehmer)
		
	Schedule 1b (Approved Jurisdictions) 	  	Anhang 1b (Anerkannte Jurisdiktionen) 

  
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	Schedule 2 (Declaration of Consent)	  	Anhang 2 (Einwilligungserklärung)
		
	Pursuant to which the ORIGINATOR consents to the collection, processing and utilisation of data by GE CAPITAL, the transfer of data to GE CAPITAL, the transfer of rights (including the relevant documentation) arising from this
agreement to a third party and the release of the tax authorities from their professional duty of confidentiality.	  	Wonach der KUNDE die Erhebung, Verarbeitung und Nutzung von Daten durch GE CAPITAL, die Übertragung von Rechten (einschließlich der zugehörigen Dokumentation) aus diesem Vertrag an Dritte und in die Befreiung der
Finanzämter von der Schweigepflicht einwilligt.
		
	Schedule 3 (Conditions Precedent) 	  	Anhang 3 (Auszahlungsvoraussetzungen)
		
	Annex 1 Transfer of French Receivables	  	Anlage 1 Übertragung französicher Forderungen
		
	Annex 2 Form of Offer Letter	  	Anlage 2 Formular für Forderungsanzeigen
		
	Annex 3 Trade Credit Insurance Agreement	  	Anlage 3 Warenkreditversicherungsvertrag
		
	Annex 4 Assignment Agreement on Trade Insurance	  	Anlage 4 Warenkreditversicherungsabtretungsvertrag
		
	Annex 5 Account Pledge Agreement	  	Anlage 5 Kontoverpfändungsvertrag
		
	28. GOVERNING LAW, JURISDICTION	  	28. MAßGEBLICHES RECHT, GERICHTSSTAND
		
	28.1 Except for as stated otherwise in section 2.2 of this Agreement, this Agreement shall be governed by German law.	  	28.1 Soweit in Ziffer 2.2. dieses Vertrages nicht Gegenteiliges geregelt ist, unterliegt dieser Vertrag deutschem Recht.
		
	28.2 Without prejudice to Clause 28.1, the courts in Mainz shall have jurisdiction.	  	28.2 Gerichtsstand ist Mainz, wenn sich nicht aus Ziffer 28.2 etwas Gegenteiliges ergibt.
		
	29. SEVERABILITY CLAUSE	  	29. SALVATORISCHE KLAUSEL
		
	If any provisions of this agreement or the schedules thereto are or become invalid in full or in part, the validity of the remaining provisions will not be affected thereby. The invalid provision shall be replaced by the provision
which is valid and effective and comes closest to the economic intention of the parties. The same principles shall apply if this agreement contains a gap.	  	Sollten Bestimmungen in diesem Vertrag oder seinen Anlagen ganz oder teilweise unwirksam sein oder werden, so wird die Wirksamkeit der übrigen Bestimmungen hiervon nicht berührt. An die Stelle der unwirksamen Bestimmungen
tritt diejenige Regelung, die dem beabsichtigten wirtschaftlichen Zweck in rechtswirksamer Weise am nächsten kommt. Nach diesem Grundsatz sind auch etwaige Lücken in diesem Vertrag zu schließen.

  
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	If any in rem transfers (assignments of receivables or inchoate rights and transfers of movable assets) should be or become ineffective, GE CAPITAL and the ORIGINATOR are obliged to treat each other as if the relevant transfers were
effective. They are further obliged to perform the relevant in rem transfer without undue delay, observing any requirements which until that time may not have been observed.	  	Soweit dingliche Übertragungen (Abtretungen von Forderungen oder Anwartschaften, sowie Übereignungen beweglicher Sachen) unwirksam sein oder werden sollten, sind GE CAPITAL und der KUNDE verpflichtet, die
Geschäfte untereinander so zu behandeln, als sei das Geschäft wirksam. Sie sind weiter verpflichtet, das dingliche Geschäft unverzüglich unter Berücksichtigung etwa bis dahin außer Acht gelassener Anforderungen zu
vollziehen.
		
	F. DEFINITIONS	  	F. DEFINITIONEN
		
	Accounts: The accounts maintained in the factoring procedure: Factoring Account, Incoming Payment Settlement Account, Purchase Price Reserve Account, Reserve Account, Settlement Account, Special
Account, Special Settlement Account, Special Purchase Price Reserve Account.	  	Konten: die im Factoringverfahren geführten Konten: Factoringkonto, Zahlungseingangsverrechnungskonto, Kaufpreiseinbehaltskonto, Einbehaltskonto, Kundenabrechnungskonto, Sonderkonto,
Sonderverrechnungskonto, Sonderkaufpreiseinbehaltskonto.
		
	Actual Average Funding Period is calculated for each batch of Receivables contained in each transmission of Financing Commission Calculation Data as the weighted average of all Actual
Funding Periods per Invoice of all Receivables contained in the relevant previous transmission of Financing Commission Calculation Data.	  	Die Tatsächliche Durchschnittliche Finanzierungsperiode wird für jede Forderungsgesamtheit berechnet, die in jeder Übermittlung der Berechnungsdaten zur Ermittlung der
Finanzierungsgebühr enthalten ist, als der gewichtete Durchschnitt aller Tatsächlichen Finanzierungsperioden auf Einzelrechnungsbasis für alle Forderungen, die in der jeweiligen vorherigen Übermittlung der
Berechnungsdaten zur Ermittlung der Finanzierungsgebühr enthalten sind.
		
	Actual Funding Period per Invoice is the actual number of calendar days from (and including) the Funding Date to (and excluding) the day communicated by the ORIGINATOR (to be tested and
confirmed from time to time by way of samples taken by GE CAPITAL) of actual repayment of each Receivable in the Financing Commission Calculation Data.	  	Die Tatsächliche Finanzierungsperiode auf Einzelrechnungsbasis ist die tatsächliche Anzahl von Kalendertagen vom Finanzierungstag (einschließlich) bis (ausschließlich)
zu dem Tag, der jeweils vom KUNDEN (dies wird von Zeit zu Zeit stichprobenartig von GE CAPITAL überprüft) als derjenige Tag in den Berechnungsdaten zur Ermittlung der Finanzierungsgebühr mitgeteilt wird, an dem die
Forderung tatsächlich zurückbezahlt wird.

  
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	Adjustment is the difference between the Actual Average Funding Period and the Average Expected Funding Period for a batch of Receivables contained in a transmission of Financing Commission
Calculation Data.	  	Anpassung ist für jede Forderungsgesamtheit die Differenz zwischen der Tatsächlichen Durchschnittlichen Finanzierungsperiode und der Durchschnittlichen Erwarteten Finanzierungsperiode.
		
	Adjusted Expected Funding Period per Invoice for the first drawdown under this contract is the Expected Funding Period per Invoice. For subsequent drawdowns the Adjusted Expected Funding Period per Invoice
is equal to the Expected Funding Period per Invoice plus the Adjustment calculated for the relevant previous batch of Receivables sold. The ORIGINATOR and GE Capital agree that the Adjusted Expected Funding Period
per Invoice shall, for the purposes of the calculation of the Financing Commission per Invoice, never be smaller than 10 calendar days.	  	Die Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis für die erste Ziehung unter diesem Vertrag ist die Erwartete Finanzierungsperiode auf Einzelrechnungsbasis. Für alle weiteren
Ziehungen ist die Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis gleich der Erwarteten Finanzierungsperiode auf Einzelrechnungsbasis plus die für die jeweilige vorherige verkaufte Forderungsgesamtheit
berechnete Anpassung. Der KUNDE und GE CAPITAL sind sich einig, dass die Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis für die Zwecke der Berechnung der Finanzierungsgebühr auf Einzelrechnungsbasis niemals
kleiner als 10 Kalendertage sein soll.
		
	Administration Fee: The percentage rate of the Nominal Amount set out in schedule 1 (Terms and Conditions).	  	Verwaltungsgebühr: Der Prozentsatz des in Anhang 1 (Konditionen) festgelegten Nominalbetrages.
		
	Affiliated Company: A company which holds a participation in the ORIGINATOR or in which the ORIGINATOR holds a participation or a shareholder of which holds a participation in the ORIGINATOR or whose representatives
are completely or partially identical with those of the ORIGINATOR. The form of participation is irrelevant; an indirect participation is sufficient.	  	Nahestehendes Unternehmen: Ein Unternehmen, das eine Beteiligung am KUNDEN hält oder an dem der KUNDE eine Beteiligung unterhält oder Gesellschafter ist oder dessen Vertreter ganz oder teilweise identisch mit
denen des KUNDEN sind. Die Form der Beteiligung ist unerheblich; eine indirekte Beteiligung ist ausreichend.
		
	Average Expected Funding Period is the weighted average of Expected Funding Periods per Invoice for all invoices in the Financing Commission Calculation Data.	  	Durchschnittliche Erwartete Finanzierungsperiode ist der Durchschnitt aller Erwarteten Finanzierungsperioden auf Einzelrechnungsbasis für alle Rechnungen in den jeweiligen Berechnungsdaten zur Ermittlung
der Finanzierungsgebühr.

  
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	Bad Debt Amount: Amount corresponding to the purchase price for the relevant Receivable, but reduced by the VAT amount contained in the Receivable. Any payments made in respect of the purchase price are
offset. The balance shall be credited or debited, as the case may be, to the Settlement Account.	  	Delkrederebetrag: Entspricht dem Kaufpreis der jeweiligen Forderung, jedoch vermindert um einen Betrag in Höhe der in der Forderung enthaltenen Umsatzsteuer. Bereits auf den Kaufpreis erbrachte
Leistungen sind zu verrechnen. Der Differenzbetrag ist dem Kundenabrechnungskonto gutzuschreiben bzw. zu belasten.
		
	Bad Debt Case: Occurrence of an event referred to in clause 6.2.	  	Delkrederefall: Eintritt eines der in Ziffer 6.2 beschriebenen Ereignisse.
		
	Bad Debt Coverage: Obligation of GE CAPITAL to pay the Bad Debt Amount in the Bad Debt Case.	  	Delkrederehaftung: Die Verpflichtung von GE CAPITAL, im Delkrederefall den Delkrederebetrag zu zahlen.
		
	Business Days: All calendar days except for Saturdays, Sundays and any public holidays and bank holidays applicable at the registered seat of the ORIGINATOR or GE CAPITAL.	  	Geschäftstage: alle Kalendertage mit Ausnahme von Samstagen, Sonntagen und am Sitz des KUNDEN oder von GE CAPITAL gültigen gesetzlichen Bank-Feiertagen.
		
	CED GmbH: Constellium Extrusions Deutschland GmbH, a German law limited liability company, with business address at Bildstraße 4, 74564 Crailsheim, registered with the commercial register at the local court of
Ulm with registration number HRB 670619.	  	CED GmbH: Constellium Extrusions Deutschland GmbH, eine deutsche Gesellschaft mit beschränkter Haftung mit Sitz in der Bildstraße 4, 74564 Crailsheim, eingetragen beim Handelsregister des Amtsgerichts Ulm
unter HRB 670619.
		
	Collection Procedure: Procedure instigated to collect Receivables, including legal dunning procedures by external counsel, judicial court proceedings and foreclosure proceedings until the final settlement of the
proceeding.	  	Inkassoverfahren: Verfahren zur Beitreibung einer Forderung, durch (extern-)anwaltliches Mahnverfahren, gerichtliches Erkenntnisverfahren und Zwangsvollstreckungsverfahren bis zur Beendigung des Verfahrens.
		
	Commencement Date: The commencement date referred to in schedule 1 (Terms and Conditions).	  	Vertragsbeginn: Der in Anhang 1 (Konditionen) genannte Vertragsbeginn.
		
	Credit and Collection Policies: means the ORIGINATOR’s credit and collection policies currently in force on the date hereof which may only be amended or changed with GE CAPITAL’s prior written consent, except
for only minor editorial amendments and changes.	  	Gutschrifts- und Einzugsregeln: die Gutschrifts- und Einzugsregeln des KUNDEN in der derzeit gültigen Fassung, die, mit Ausnahme von geringfügigen redaktionellen Ergänzungen oder Änderungen, nur mit
21 vorheriger schriftlicher Einwilligung von GE CAPITAL ergänzt oder geändert werden können.

  
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	Debtor Limit: The maximum amount available to fund purchases of Receivables against a particular Debtor. The extent of its utilization is equal to the sum of all purchased and outstanding
Receivables. Bills of exchange and cheques are considered as a settlement of a Receivable when irrevocably cashed. Debtor Limits are established pursuant to clause 7.	  	Abnehmerlimit: Der Höchstbetrag, der für den Ankauf von Forderungen gegen einen Abnehmer zur Verfügung steht. Der Umfang seiner Ausnutzung entspricht der Summe aller gekauften und vom
Abnehmer noch nicht bezahlten Forderungen. Wechsel und Schecks werden mit endgültiger Einlösung als Erfüllung der Forderung berücksichtigt. Die Festsetzung von Abnehmerlimiten ergibt sich aus Ziffer
7.
		
	Debtors: All present and future counterparties of the ORIGINATOR to contracts pursuant to which the ORIGINATOR owes the delivery of goods and/or the rendering of services for which the relevant counterparty owes
payment, provided that the Debtors excluded from the factoring agreement are set out in schedule 1a (Excluded Debtors).	  	Abnehmer: Alle bestehenden und zukünftigen Vertragspartner des KUNDEN in Verträgen, in denen der KUNDE die Warenlieferung und/oder die Erbringung von Dienstleistungen schuldet, für welche der
Vertragspartner eine Leistung in Geld schuldet, ausgenommen der vom Factoringvertrag ausgenommenen Abnehmer, die in Anhang 1a (Ausgenommene Abnehmer) aufgeführt sind.
		
	Debtors’ Accounts: Accounts administrated by GE CAPITAL, which show the ORIGINATOR’s Receivables against the Debtors that were assigned to GE CAPITAL.	  	Debitorenkonten: Von GE CAPITAL geführte Konten, auf die die vom KUNDEN an GE CAPITAL abgetretenen Forderungen gebucht werden.
		
	Dilution Rate: The Dilution Rate considers the average dilution depending on the performance of the Purchased Receivables and considers specific risks (i.e. set-off (without double counting with the Specific
Reserve), and other dilutions but for the avoidance of doubt not debtor risk), whereas a given event shall be taken into account only once, and only with respect to a given reserve and means as of any date of determination, the greater of:	  	Dilution Rate: Die Dilution Rate berücksichtigt die durchschnittliche Verwässerung abhängig von der Leistungsfähigkeit der gekauften Forderungen und berücksichtigt spezielle Risiken
(z.B. Aufrechnung (ohne Doppelberechnung mit der Sondereinbehalt), und andere Verwässerungen, jedoch, um Missverständnissen vorzubeugen, kein Abnehmer- /Delkredererisiko), wobei jeder Anlass nur einmalig berücksichtigt wird,
und nur im Hinblick auf einen einzigen Einbehalt, und bedeutet der zum jeweils entscheidenden Zeitpunkt größere Betrag von
		
	(x) 10% and	  	(x) 10% und
		
	(y) (a) two times the average dilution reduction of 12 months as of such date of determination, plus (b) 5%.	  	(y) (a) zweimal den durchschnittlichen Dilution Abschlag der letzten 12 Monate vor dem Berechnungstag, plus (b) 5%.

  
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	Disclosed Procedure: Factoring procedure in which the assignment of Receivables is disclosed to the Debtors.	  	Offenes Verfahren: Factoringverfahren, bei dem die Abtretung der Forderungen gegenüber den Abnehmern angezeigt wird.
		
	Discretionary Debtor Limit: Debtor Limit established and modified by declaration of the ORIGINATOR vis-à-vis GE CAPITAL in accordance with clause 7.2 and within the extent set out in schedule 1 (Terms and
Conditions).	  	Abnehmerlimitselbstvergabe: Festsetzung und Änderung der Abnehmerlimite durch Erklärung des KUNDEN gegenüber GE CAPITAL nach Ziffer 7.2 und innerhalb der Grenzen, die sich aus Anhang 1
(Konditionen) ergibt.
		
	Eligible: Means in respect of any Receivable that, as applicable:	  	Einwandfrei: Bedeutet im Hinblick auf eine Forderung, dass, soweit anwendbar:
		
	(a) each Receivable exists as set out in the Offer Letter, is free from any objections and defenses, is assignable (including, for the avoidance of doubt, Receivables which are assignable pursuant to sec.
354a of the German Commercial Code (HGB)) and is not subject to any third party rights that may be asserted against GE CAPITAL and that the respective invoice has been received by the Debtor;	  	(a) jede Forderung wie aus der Forderungsanzeige ersichtlich, besteht, frei ist von jeglichen Einwendungen und Einreden, abtretbar (zur Vermeidung von Missverständnissen, einschließlich
Forderungen, die gemäß § 354a Handelsgesetzbuch (HGB) abtretbar sind) und nicht mit Rechten Dritter, die gegen GE CAPITAL geltend gemacht werden können, belastet ist und dass die entsprechende Rechnung dem Abnehmer
zugegangen ist
		
	(b) each Receivable shall be fully capable of transfer without the requirements of any consents from the debtors or third parties, or when a consent is required (such as in case of a prohibition or restriction
of assignment which would prevent the legal transfer of the receivable if the consent would not be obtained), each such consent must have been obtained to the satisfaction of GE CAPITAL on or prior to the date on which the relevant Receivable
is intended to be transferred (failing to receive such letters of consent, the relevant receivables shall not be eligible for purchase); and	  	(b) jede Forderung ohne Einwilligung der Abnehmer oder Dritter übertragbar sein soll, oder, wenn eine Einwilligung notwendig ist (wie im Fall eines Verbots oder einer Einschränkung der Abtretung,
die die rechtliche Übertragung der Forderung verhindern würde, wenn die Einwilligung nicht erlangt werden würde), muss die Einwilligung zur Zufriedenheit von GE CAPITAL erlangt worden sein (zu oder vor dem Zeitpunkt, an dem die
Übertragung der jeweiligen Forderung beabsichtigt ist (werden die Einwilligungsschreiben nicht erhalten, sind die jeweiligen Forderungen zum Kauf nicht einwandfrei); und
		
	(c) each Receivable shall constitute legal valid, binding and enforceable obligations of the relevant debtor; and	  	(c) jede Forderung rechtlich gültige, bindende und durchsetzbare Verpflichtungen des jeweiligen Abnehmers begründet; und

  
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	(d) each Receivable shall be free from any security interest, rights of third parties or adverse claims, or as the case may be, such security interest, rights of third parties or adverse claims will have (i) been waived to
the satisfaction of GE CAPITAL prior to the transfer of the relevant Receivable or (ii) released due to payment to such relevant supplier upon delivery of supplies, provided that in respect of the Receivables governed by German law
standard extended retention of title clauses which contain an authorization of the ORIGINATOR to collect the relevant receivable shall be permitted; and	  	(d) jede Forderung frei ist von Sicherungsrechten, Rechten Dritter oder nachteiligen Ansprüchen, oder auf diese Sicherungsrechte, Rechte Dritter oder nachteiligen Ansprüche gegebenenfalls zur Zufriedenheit von GE
CAPITAL (i) vor der Übertragung der jeweiligen Forderung verzichtet oder (ii) sie wegen Zahlung an den jeweiligen Lieferant nach Lieferung der Güter freigegeben wurden, vorausgesetzt, dass im Hinblick auf die dem deutschen Recht
unterliegenden Forderungen Eigentumsvorbehaltsklauseln, die eine Ermächtigung des KUNDEN zur Einziehung der jeweiligen Forderung beinhalten, erlaubt werden; und
		
	(e) no Receivable shall arise from a contract of which the performance has been wholly or partly subcontracted under French law n°75-1334 of 31 December 1975, or any
similar applicable law or regulation granting to the subcontractor a direct claim on a debtor for the payment owed to it by the ORIGINATOR under the subcontract, save if, to the reasonable satisfaction of GE CAPITAL, bank guarantees (to
guarantee payments to the relevant subcontractors) or other relevant arrangements have been implemented in advance in accordance with the above laws and regulations so as to avert the exercise of any such direct claim; and	  	22 (e) keine Forderung aus einem Vertrag entsteht, aus dem die Erfüllung ganz oder teilweise unter dem französischem Gesetz Nr. 75-1334 vom 31. Dezember 1975 an einen Subunternehmer weitergegeben wurde,
oder ein anderes ähnliches anwendbares Gesetz oder eine Regelung, welche dem Subunternehmer einen direkten Anspruch gegen einen Abnehmer für die Zahlung, die der KUNDE unter dem Subunternehmervertrag schuldet, ausgenommen wenn die
Bankgarantien (Zahlungen des jeweiligen Subunternehmers garantieren) oder andere relevante Vereinbarungen, jeweils zur vernünftigen Zufriedenheit von GE CAPITAL, im Voraus und im Einklang mit den o.g. Gesetzen und Regelungen umgesetzt wurden,
so wie die Verhinderung der Geltendmachung eines solchen direkten Anspruchs.
		
	(f) is not subject to a current account Agreement (kontokorrentgebundene Forderung) within the meaning of sec. 355 of the German Commercial Code (HGB).	  	(f) sie keine kontokorrentgebundene Forderung im Sinne von § 355 Handelsgesetzbuch (HGB) ist.
		
	Expected Funding Period per Invoice is the expected number of calendar days from (and including) the relevant Funding Date to (and excluding) the relevant due date or, if different, such other day
on which the repayment of each Receivable included in the Financing Commission Calculation Data is expected by the ORIGINATOR.	  	Erwartete Finanzierungsperiode auf Einzelrechnungsbasis ist die erwartete Anzahl von Kalendertagen von dem jeweiligen Finanzierungsdatum (einschließlich) bis zum (aber ausschließlich des)
jeweiligen Fälligkeitsdatum(s) einer Forderung oder, sofern davon abweichend, dem Tag an dem die Bezahlung einer jeweiligen Forderung in den Berechnungsdaten zur Ermittlung der Finanzierungsgebühr vom KUNDEN sonst
erwartet wird.

  
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	Expiration Date: The expiration date referred to in schedule 1 (Terms and Conditions).	  	Ablaufdatum: Das Ablaufdatum, auf das in Anhang 1 (Konditionen) Bezug genommen wird.
		
	Factoring Account: Account on which the purchased Receivables are booked in their aggregate amount.	  	Factoringkonto: Konto, auf dem die angekauften Forderungen in Höhe ihres vollen Wertes gebucht werden.
		
	Factoring Commission: The percentage rate of the Nominal Amount set out in schedule 1 (Terms and Conditions).	  	Factoringgebühr: Der Prozentsatz des in Anhang 1 (Konditionen) festgelegten Nominalbetrages.
		
	Factoring-Satzaufbau: GE CAPITAL’s requirements for information to be provided by the ORIGINATOR in electronic form about invoices, credit notes, payments or open items.	  	Factoring Satzaufbau: Vorgaben von GE CAPITAL für vom KUNDEN in elektronischer Form zu erteilende Informationen über Rechnungen, Gutschriften, Zahlungen oder Offene Posten.
		
	Factorlink: Software for the performance of the factoring procedure.	  	Factorlink: Software für die Durchführung des Factoringverfahrens.
		
	Fee Letter: a fee letter dated on or about 04 January 2011 and to be entered into between GE CAPITAL, the French Purchaser, Constellium N.V. and AIF VII Euro Holdings L.P.	  	Fee Letter: ein Fee Letter, der am oder um den 04. Januar 2011 datiert und zwischen GE CAPITAL, dem französischen Käufer, Constellium N.V. und AIF VII Euro Holdings L.P abgeschlossen werden
wird.
		
	Financing Commission Assessment Base per Invoice is the amount drawn by the ORIGINATOR from the Settlement Account on each Funding Date by invoice, calculated on the basis of each of the
Receivables included in the most recent Financing Commission Calculation Data.	  	Finanzierungsgebühr Berechnungsgrundlage auf Einzelrechnungsbasis ist der Betrag, der vom KUNDEN vom Kundenabrechnungskonto an jedem jeweiligen Finanzierungstag auf Einzelrechnungsbasis abgebucht wird und
der sich auf Grundlage der Forderungen berechnet, die in der jeweils jüngsten Übermittlung von Berechnungsdaten zur Ermittlung der Finanzierungsgebühr enthalten waren.
		
	Financing Commission Calculation Data: means a list of Receivables setting out on a Receivable-by-Receivable basis (a) the name of the relevant Debtor, (b) the amount of the relevant related
invoice, (c) the Receivable	  	Berechnungsdaten zur Ermittlung der Finanzierungsgebühr bezeichnet eine Liste von Forderungen in der auf Einzelrechnungsbasis (a) der Name des jeweiligen Abnehmers, (b) der Betrag
der

  
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	related invoice date, (d) the Receivable due date, (e) the Expected Funding Period per Invoice as well (f) as the Actual Funding Period per Invoice in respect of the batch of Receivables
sold during the relevant previous Adjusted Expected Funding Period per Invoice. The Financing Commission Calculation Data is provided by the ORIGINATOR two Business Days prior to each relevant Funding Date.	  	jeweiligen Rechnung, (c) das Rechnungsdatum, (d) das Fälligkeitsdatum der Forderung, (e) die Erwartete Finanzierungsperiode auf Einzelrechnungsbasis, sowie, (f) die jeweilige Tatsächliche
Finanzierungsperiode auf Einzelrechnungsbasis, bezogen auf die in der jeweils zurückliegenden Angepassten Erwartete Finanzierungsperiode auf Einzelrechnungsbasis verkauften Forderungen. Die Berechnungsdaten
zur Ermittlung der Finanzierungsgebühr werden vom KUNDEN jeweils vorab zwei Geschäftstage vor jedem jeweiligen Finanzierungstag übermittelt.
		
	Financing Commission per Invoice is calculated upfront for the relevant next following Adjusted Expected Funding Period per Invoice on a Receivable-by-Receivable basis by applying the Financing
Commission Rate to the Financing Commission Assessment Base per Invoice. The Financing Commission Rate is calculated as follows on the basis of an interest rate calculation in accordance with the international method, i.e. act/360
interest days per year:	  	Die Finanzierungsgebühr auf Einzelrechnungsbasis wird jeweils vorab für die jeweils folgende Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis auf Einzelrechnungsbasis dergestalt
berechnet, dass der Finanzierungsgebührensatz auf die Finanzierungsgebühren Berechnungsgrundlage auf Einzelrechnungsbasis angewendet wird.
		
		  	Der Finanzierungsgebührensatz errechnet sich wie folgt auf Grundlage einer Zinssatzberechnung in Übereinstimmung mit der internationalen Berechnungsmethode, d.h. act/360 Tage p.a.:
		
	FCPI = FCABI x FCR x (AEPI /360)	  	FCPI = FCABI x FCR x (AEPI /360)
		
	FCPI is the Financing Commission per Invoice,	  	FCPI bezeichnet die Finanzierungsgebühr auf Einzelrechnungsbasis,
		
	FCABI is the Financing Commission Assessment Base per Invoice,	  	FCABI bezeichnet die Finanzierungsgebühr Berechnungsgrundlage auf Einzelrechnungsbasis,
		
	FCR is the Finance Commission Rate; and	  	FCR bezeichnet den Finanzierungsgebührensatz; und
		
	AEPI is the Adjusted Expected Funding Period per Invoice.	  	AEPI bezeichnet die Angepasste Erwartete Finanzierungsperiode auf Einzelrechnungsbasis.

  
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	Financing Commission Rate: The percentage rate p.a. (per annum) set out in schedule 1 (Terms and Conditions), consisting of the sum of the percentage rates of the Financing Commission Reference Rate and the
margin.	  	Finanzierungsgebührensatz: Der aus Anhang 1 ersichtliche Prozentsatz p.a (Pro Jahr), bestehend aus der Summe der Prozentsätze des Referenzfinanzierungsgebührensatzes und der
Marge.
		
	Financing Commission Reference Rate: is the EURIBOR (Euro Interbank Offered Rate), provided that the applicable term and the details of the continuing adjustment of the EURIBOR are set out in schedule 1 (Terms and
Conditions). The actual rate of the EURIBOR is published, inter alia, on the internet site of the German Federal Bank.	  	Referenzfinanzierungsgebührensatz: ist der EURIBOR (Euro Interbank Offered Rate), unter der Maßgabe, dass die anwendbare Laufzeitsbezugsgröße und die Einzelheiten der fortlaufenden Anpassung des
EURIBOR in Anhang 1 (Konditionen) näher festgelegt sind. Die tatsächliche Höhe des EURIBOR ist unter anderem auf der Internetseite der Deutschen Bundesbank veröffentlicht.
		
	Funding Date: the date when available funds are drawn by the ORIGINATOR from the Settlement Account.	  	Finanzierungstag ist der Tag an dem verfügbare Mittel vom KUNDEN vom Kundenabrechnungskonto abgebucht werden.
		
	French Purchaser: GE Factofrance SNC as purchaser under the French RPA.	  	Französischer Käufer: Ge Factofrance SNC als Käufer nach dem französischen RPA.
		
	French RPA: a non-recourse French law receivables purchase agreement dated on or about the date hereof, between the French Sellers as sellers and GE Factofrance SNC as French purchaser, pursuant to which
the French purchaser acquires receivables originated from the French sellers.	  	Französisches RPA: eine regresslose Vereinbarung über einen Forderungskauf, die dem französischen Recht unterliegt vom oder um das Datum dieses Vertrages, zwischen den französischen
Verkäufern und GE Factofrance SBC als französischer Käufer, gemäß dessen der französische Käufer Forderungen, die von den französischen Verkäufern stammen, erwirbt.
		
	French Seller: collectively Constellium France, a company incorporated under the laws of France as a société par actions simplifiée with a share capital of EUR 123,547,875.00, whose
registered office is located at 40-44 rue de Washington, 75008 Paris, France, registered with the Trade and Companies Registry of Paris under number 672 014 081, , Constellium Extrusions France, a company incorporated under the laws of France as a
société par 	  	Französischer Verkäufer: gemeinsam: Constellium France, eine Gesellschaft eingetragen als société par actions simplifiée nach französischem Recht mit einem Stammkapital in
Höhe von EUR 123.547.875,00 mit Geschäftssitz in 40-44 rue de Washington, 75008 Paris, Frankreich, registriert beim Handels- und Gesellschaftsregister Paris unter Nr. 672 014 081, , Constellium Extrusions France,
eine

  
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	actions simplifiée with a share capital of EUR 22,265,000.00, whose registered office is located at 40-44 rue de Washington, 75008 Paris, France, registered with the Trade and Companies Registry of Paris under number
662 032 374, and Constellium Aviatube, a company incorporated under the laws of France as a société par actions simplifiée with a share capital of EUR 3,284,400, whose registered office is located at Zone Industrielle,
44470 Carquefou, France, registered with the Trade and Companies Registry of Nantes under number 712 032 705, as sellers under the French RPA	  	Gesellschaft eingetragen als société par actions simplifiée nach französischem Recht mit einem Stammkapital in Höhe von EUR 22.265.000,00 mit Geschäftssitz in 40-44 rue de Washington, 75008
Paris, Frankreich, registriert beim Handels- und Gesellschaftsregister Paris unter Nr. 662 032 374 und Constellium Aviatube eine Gesellschaft eingetragen als société par actions simplifiée nach französischem
Recht mit einem Stammkapital in Höhe von EUR 3.284.400, mit Geschäftssitz in Zone Industrielle, 44470 Carquefou, Frankreich, registriert beim Handels- und Gesellschaftsregister Nantes unter Nr. 712 032 705, als Verkäufer
gemäß dem französischen RPA.
		
	Full-Service-Factoring: Factoring procedure in which the accounts receivable bookkeeping and dunning procedure are performed by GE CAPITAL.	  	Full-Service-Factoring: Factoringverfahren, bei dem die Debitorenbuchhaltung und das Mahnwesen durch GE CAPITAL erledigt werden.
		
	German CED RPA: a German law non-recourse receivables purchase agreement dated on or about the date hereof, between the CED GmbH as seller and GE CAPITAL as purchaser, pursuant to which GE CAPITAL acquires
receivables originated from CED GmbH.	  	Deutsches CED RPA: eine regresslose Vereinbarung über einen Forderungskauf, vom oder um das Datum dieses Vertrages, zwischen CED GmbH als Verkäufer und GE CAPITAL als Käufer, gemäß
dessen GE CAPITAL Forderungen, die von CED GmbH stammen, erwirbt.
		
	German Sellers: the ORIGINATOR and CED GmbH, each as seller of receivables pursuant to German law factoring agreements entered into with GE CAPITAL.	  	Deutsche Verkäufer: der KUNDE und die CED GmbH, jeweils als Verkäufer der Forderungen gemäß den deutschen Factoringverträgen, die mit GE CAPITAL geschlossen wurden.
		
	Group: has the meaning assigned to such term in the Intercreditor Agreement.	  	Gruppe: hat dieselbe Bedeutung wie im Interkreditorvertrag.
		
	Incoming Payment Settlement Account: Account on which in the Inter- Credit®-Factoring incoming payments are booked by interim posting until the
Reconciliation Process has been performed, see clause 12.2.	  	Zahlungseingangsverrechnungskonto: Konto, auf dem beim Inter-Credit®-Factoring Zahlungseingänge bis zum Stülpvorgang zwischengebucht
werden, siehe Ziffer 12.2.

  
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	Inter-Credit®-Factoring: Factoring procedure in which the accounts receivable bookkeeping and dunning procedure are performed by the ORIGINATOR as
trustee for GE CAPITAL.	  	Inter-Credit®-Factoring: Factoringverfahren, bei dem die Debitorenbuchhaltung und das Mahnwesen durch den KUNDEN als Treuhänder für GE CAPITAL erledigt
werden.
		
	Intercreditor Agreement: a French law intercreditor agreement dated on or about the date hereof, between, inter alia, the Parent, the French Sellers, the German Sellers, the Swiss Seller and
GE CAPITAL, pursuant to which the parties agreed to regulate certain cross-collateralization principles and to subordinate certain rights of certain investors in respect of liabilities owed to each of them by the French Sellers, the German
Sellers and the Swiss Seller.	  	Interkreditorvertrag: ein Interkreditorvertrag nach französischem Recht datierend auf oder um das Datum dieses Vertrages, unter anderem zwischen dem Mutterunternehmen und den französischen
Käufern, den deutschen Käufern, den Schweizer Käufern und GE CAPITAL, wonach die Parteien vereinbarten, bestimmte Grundsätze zur wechselseitigen Besicherung zu regeln und bestimmte Rechte gewisser Investoren im
Hinblick auf Verbindlichkeiten, die jedem von ihnen von den französischen Käufern, den deutschen Käufern und den Schweizer Käufern geschuldet sind.
		
	Maximum Commitment: The amount which the Utilization may not exceed. The amount of the Maximum Commitment is set out in schedule 1 (Terms and Conditions).	  	Höchstobligo: Der Betrag, welcher die Inanspruchnahme nicht übersteigt. Der Betrag des Höchtsobligos ergibt sich aus Anhang 1 (Konditionen).
		
	Nominal Amount: The final amount set out in the invoice for the relevant Receivable, including VAT.	  	Nominalbetrag: Der in der Rechnung ausgewiesene Endbetrag für die Forderung einschließlich Umsatzsteueranteil.
		
	Notification of Dispute: Notification by the ORIGINATOR or the Debtor to GE CAPITAL that the Debtor claims that the Receivable is not Eligible.	  	Reklamationsanzeige: Anzeige des KUNDE oder des Abnehmers an GE CAPITAL, dass der Abnehmer geltend macht, die Forderung sei nicht einwandfrei.
		
	Offer Letter: Notification of a certain Receivable by the ORIGINATOR to GE CAPITAL. Several notifications of Receivables can be combined in one Offer Letter.	  	Forderungsanzeige: Anzeige einer bestimmten Forderung an GE CAPITAL durch den KUNDEN. Es können verschiedene Anzeigen von Forderungen in einer Forderungsanzeige erfolgen.
		
	Open Items File: List of all Receivables which are existing and unpaid at the time when the list is compiled.	  	Offene Posten Datei: Aufstellung sämtlicher zum Zeitpunkt der Erstellung der Aufstellung bestehender unbezahlter Forderungen.

  
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	Parent: Constellium Holdco II B.V., a company incorporated under the laws of the Netherlands as a besloten vennootschap, whose registered office is located at Tupolevlann 41-61, 1119 NW Schipho-Rijk, The
Netherlands, registered with the Trade and Companies Registry of The Netherlands under number 34393946 0000.	  	Mutterunternehmen: Constellium Holdco II B.V., eine Gesellschaft eingetragen als besloten vennootschap nach dem Recht der Niederlande mit Geschäftssitz in Tupolevlann 41-61, 1119 NW Schipho-Rijk,
Niederlande, registriert beim Handels- und Gesellschaftsregister der Niederlande unter Nr. 34393946 0000.
		
	Pledged Accounts: The bank accounts referred to as pledged accounts in schedule 1 (Terms and Conditions).	  	Verpfändete Bankkonten: Die in Anhang 1 (Konditionen) als verpfändete Konten bezeichnete Bankkonten.
		
	Purchase Price Reserve: Amount corresponding to the percentage rate set out in schedule 1 (Terms and Conditions) of the Nominal Amount.	  	Kaufpreiseinbehalt: Betrag, der dem Prozentsatz des Nominalbetrags wie in Anhang 1 (Konditionen) entspricht.
		
	Purchase Price Reserve Account: Account on which the Purchase Price Reserve is booked (see clause 4.1 and 4.3).	  	Kaufpreiseinbehaltskonto: Konto, auf dem der Kaufpreiseinbehalt gebucht wird (siehe Ziffer 4.1 und 4.3).
		
	Quarterly Account Statement: Written summary of the balances of all Accounts as of the end of each calendar quarter.	  	Quartalsabschluss: Schriftliche Übersicht über die Stände aller Konten zum Ende des Quartals.
		
	Receivables: All existing and future payment receivables arising under agreements for the delivery of goods and/or the rendering of services by the ORIGINATOR vis-à-vis its Debtors.	  	Forderungen: alle gegenwärtig bestehenden und künftig entstehenden Forderungen auf Zahlung für Warenlieferungen und/oder der Erbringung von Dienstleistungen durch den KUNDEN gegenüber seinen
Abnehmern.
		
	Reconciliation Process: Reconciliation of GE CAPITAL’s Open Items File with the Open Item File provided by the ORIGINATOR.	  	Stülpvorgang: Angleichung der Offene Posten Datei von GE CAPITAL an die Offene Posten Datei des KUNDEN.
		
	Reimbursement Claims: Claims of Debtors vis-à-vis the ORIGINATOR, which do not result in a direct reduction of individual receivables, in particular claims based on a relevant period and/or the
volume of sales (bonuses etc.), and claims arising from certain operations/events (marketing contributions, anniversary bonuses etc.).	  	Rückvergütungsansprüche: Ansprüche des Abnehmers gegenüber dem KUNDEN, die nicht eine direkte Minderung einzelner Forderungen zur Folge haben, insbesondere Ansprüche auf der
Grundlage eines bestimmten Zeitraumes und/oder des Verkaufsvolumens (Boni, etc.), und Ansprüche aus bestimmten Tätigkeiten/Events (Werbekostenzuschüsse, Jubiläumsboni, etc.).
		
	Reserve Account: Account showing the anticipated amount of Reimbursement Claims (see clause 22.5).	  	Rückstellungskonto: Konto, auf dem die Rückvergütungsansprüche gebucht werden (siehe Ziffer 22.5).

  
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	Retaining Supplier: Each supplier of the ORIGINATOR who has stipulated an extended retention of title arrangement (assignment of the receivables resulting from the resale of the goods) with the ORIGINATOR.	  	Vorbehaltslieferant: Jeder Lieferant des KUNDEN, der mit dem KUNDEN wegen seiner Lieferungen einen verlängerten Eigentumsvorbehalt (Abtretung der aus der Weiterveräußerung resultierenden Forderung)
vereinbart hat.
		
	Settlement Account: Account on which all claims of the ORIGINATOR vis-àvis GE CAPITAL (e.g. purchase price payments for purchased Receivables, including Purchase Price Reserves that have been
released, Debtor’s payments in respect of Receivables which have not been purchased) and claims of GE CAPITAL against the ORIGINATOR (e.g. commission claims, claims for reimbursement based on performance defaults) as well as
disbursements to the ORIGINATOR are booked and offset against each other.	  	Kundenabrechnungskonto: Konto, auf dem alle Ansprüche des KUNDEN gegenüber GE CAPITAL (z.B. Kaufpreiszahlungen für angekaufte Forderungen einschließlich freigewordener Kaufpreiseinbehalte,
Abnehmerzahlungen auf nicht bezahlte Forderungen) und von GE CAPITAL gegen den KUNDEN (z.B. Gebührenansprüche, Rückforderungsansprüche wegen Leistungsstörungen) sowie Auszahlungen an den KUNDEN gebucht und miteinander
verrechnet werden.
		
	Smart-Service-Factoring: Factoring procedure in which the accounts receivable bookkeeping is performed by GE CAPITAL and the dunning procedure is performed by the ORIGINATOR as trustee for GE CAPITAL.	  	Smart-Service-Factoring: Factoringverfahren, bei dem die Debitorenbuchhaltung durch GE CAPITAL und das Mahnwesen durch den KUNDEN als Treuhänder für GE CAPITAL durchgeführt werden.
		
	Special Purchase Price Reserve: Reserve established as the result of a Notification of Dispute which shall not exceed, however, the part of the purchase price that was previously credited.	  	Sonderkaufpreiseinbehalt: Geldbetrag, der aufgrund der Reklamationsanzeige einbehalten wird, höchstens jedoch in der Höhe des zuvor gutgeschriebenen Kaufpreisanteils.
		
	Special Purchase Price Reserve Account: Account on which Special Purchase Price Reserves resulting from Notifications of Disputes are booked, see clause 4.4.	  	Sonderkaufpreiseinbehaltskonto: Konto, auf dem durch Reklamationsanzeigen ausgelöste Sonderkaufpreiseinbehalte gebucht werden, siehe Ziffer 4.4.
		
	Special Account: Account on which the Receivables which have not been purchased are booked.	  	Sonderkonto: Konto, auf dem die nicht angekauften Forderungen gebucht werden.
		
	Special Settlement Account: Technical offset account to the Special Account.	  	Sonderverrechnungskonto: Technisches Gegenkonto zum Sonderkonto.
		
	Swiss Purchaser: GE CAPITAL as purchaser under the Swiss RPA.	  	Schweizer Käufer: GE CAPITAL als Käufer nach dem Schweizer RPA.

  
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	Swiss RPA: a Swiss law non-recourse receivables purchase agreement dated on or about the date hereof, between the Swiss Seller as seller and GE CAPITAL as Swiss purchaser, pursuant to which GE CAPITAL
acquires receivables originated from the Swiss seller.	  	Schweizer RPA: eine regresslose Vereinbarung über einen Forderungskauf, mit oder um das Datum dieses Vertrages, zwischen dem Schweizer Verkäufer als Verkäufer und GE CAPITAL als Schweizer Käufer,
gemäß dessen GE CAPITAL Forderungen erwirbt, die vom Schweizer Verkäufer stammen.
		
	Swiss Seller: Constellium Valais S.A., Sierre, with business seat at 3960 Sierre, Switzerland and registration number CH-626.3.000.048-9, as seller under the Swiss RPA.	  	Schweizer Verkäufer: Constellium Valais S.A., Sierre, mit Geschäftssitz in 3960 Sierre, Schweiz und Registrierungsnummer CH-626.3.000.048-9, als Verkäufer nach dem Schweizer RPA.
		
	Tolling/Pseudo Tolling Reimbursement Claims: Claims of Debtors vis-à-vis the ORIGINATOR which do not result in a direct reduction of individual receivables, and which result out of tolling/pseudo tolling
transactions (Materialbeistellung) between the ORIGINATOR and the respective Debtor.	  	Rückvergütungsansprüche aus Materialbeistellung: Ansprüche der Abnehmer gegen den KUNDEN, die nicht zu einer Minderung einzelner Forderungen führen, und die aus Materialbeistellungen
zwischen dem KUNDEN und dem jeweiligen Abnehmer herrühren.
		
	Total Financing Commission is calculated as the sum of Financing Commissions per Invoice for all invoices included in a relevant transmission of Financing Commission Data.	  	Die Gesamtfinanzierungsgebühr errechnet sich als die Summe aller Finanzierungsgebühren auf Einzelrechnungsbasis für alle Forderungen der jeweils mitgeteilten Berechnungsdaten zur Ermittlung der
Finanzierungsgebühr.
		
	Unable to Pay: Means with respect to a Debtor that such Debtor is unable to pay its debts as and when they fall due. Inability to Pay is generally presumed if the Debtor generally ceases to
make payments.	  	Zahlungsunfähig: Bedeutet im Hinblick auf einen Abnehmer, dass der Abnehmer nicht in der Lage ist, seine fälligen Zahlungspflichten zu erfüllen. Zahlungsunfähigkeit ist in der
Regel anzunehmen, wenn der Abnehmer seine Zahlungen eingestellt hat.
		
	Undisclosed Procedure: Factoring procedure as described in Clause 13 of this Agreement in which the assignment of Receivables is not initially, but only upon termination of the Undisclosed Procedure or in the
Collection Procedure, disclosed.	  	Stilles Verfahren: Factoringverfahren gemäß Ziffer 13 dieses Vertrages, bei dem die Abtretung der Forderungen zunächst nicht, sondern erst nach Beendigung des Stillen Verfahrens oder im
Inkassoverfahren offengelegt wird.
		
	Utilization: Sum of the balances on all Accounts held for the ORIGINATOR in accordance with the factoring agreement.	  	Inanspruchnahme: Summe aller Salden von Konten die für den KUNDEN aufgrund des Factoringvertrages geführt werden.

  
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	US Borrower: Constellium Rolled Products Ravenswood, LLC, as borrower under the US GE ABL.	  	US Kreditnehmer: Constellium Rolled Products Ravenswood, LLC, als Kreditnehmer nach dem US GE ABL.
		
	US GE ABL: means a loan agreement dated on or about the date hereof, between the US Borrower as borrower and the US Lender as lender, pursuant to which the US Lender has agreed to make available to
the US Borrower a certain loan.	  	US GE ABL: ist ein Kreditvertrag vom oder um den Tag dieses Vertrags zwischen dem US Kreditnehmer als Kreditnehmer und dem US Kreditgeber als Kreditgeber, wonach der US Kreditgeber zugestimmt hat,
dem US Kreditnehmer einen Kredit zu gewähren.
		
	US Lender: GE Capital Corporation as lender under the US GE ABL.	  	US Kreditgeber: GE Capital Corporation als Kreditgeber nach dem US GE ABL.
		
	VAT Information: all information as specified in clause 4.5, sub-clause 5.	  	Umsatzsteuerinformationen: alle in Ziffer 4.5, Absatz 5, genauer beschriebenen Informationen.
		
	SIGNATORIES	  	UNTERSCHRIFTEN
		
	GE CAPITAL BANK AG	  	
		
	Signed by:	  	
		
	Title:	  	
		
	Constellium Singen GmbH	  	
		
	Signed by:	  	
		
	Title:	  	
		
	SCHEDULE 1 TERMS AND CONDITIONS	  	ANHANG 1 KONDITIONEN
		
	1. Receivables:	  	1. Forderungen:
		
	Receivables for payment of compensation from contracts regarding sales of products and related provision of services against all Debtors of the ORIGINATOR whose office location is in Germany, and all Debtors whose office
location is in a jurisdiction which is listed in Schedule 1b (Approved Jurisdictions) or any other jurisdiction approved by the GE CAPITAL, with the exception of receivables against debtors listed in Schedule 1a (Excluded
Debtors).	  	Forderungen für die Zahlung der Vergütung aus Verträgen aus Warenverkäufen und der Erbringung von Dienstleistungen gegen alle Abnehmer des KUNDEN, die ihren Sitz in der Bundesrepublik Deutschland haben,
sowie alle Abnehmer, die ihren Sitz an einem der in Anhang 1b (Anerkannte Rechtsordnungen) aufgeführten Rechtsordnungen oder einer anderen von GE CAPITAL anerkannten Rechtsordnung haben, mit Ausnahme der Forderungen gegen die
Abnehmer, die in Anhang 1a (Ausgenommene Abnehmer) aufgeführt sind.

  
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	2. Purchase Price Reserve: the higher of (i) 10% or (ii) the sum of 5% and the average dilution rate as observed over the last three months.	  	2. Kaufpreiseinbehalt: Der jeweils höhere Betrag von entweder (i) 10% oder (ii) der Summe von 5% und der durchschnittlichen Dilution Rate der letzten drei Monate.
		
	3. Financing Commission Reference Rate; Fees; Commission:	  	3. Finanzierungsgebührensatz; andere Gebühren; Provision:
		
	a) Financing Commission Reference Rate (see Clause 4.1): 3 month Euribor + 1,95%, paid monthly and calculated on the last Business Day of each month for the following month.	  	a) Referenzfinanzierungsgebührensatz (siehe Ziffer 4.1): 3 Monate EURIBOR + 1,95%, Zahlung monatlich und Berechnung am letzten Geschäftstag jeden Monats für den Folgemonat.
		
	b) Unused Facility Fee: 1% per annum of the amount of the available but unused amount of the Settlement Account.	  	b) Bereitstellungsgebühr: 1% pro Jahr des verfügbaren aber nicht in Anspruch genommenen Betrages auf dem Kundenabrechnungskonto.
		
	c) Audit Fees: EUR 3,000 per audit and a maximum audit fee of EUR 6,000 per year	  	c) Außenprüfungsgebühren: EUR 3.000 pro Außenprüfung und maximal EUR 6.000 pro Jahr.
		
	d) Factoring Commission and Administration Fee (see Clauses 4.1 and 8.3): 0,15 % + 0,01% bad debt cost calculated on the volume of the Receivables.	  	d) Factoring- und Verwaltungsgebühr (siehe Ziffer 4.1 und 8.3): 0,15% + 0,01% Delkrederekosten, berechnet nach dem Volumen der Forderungen.
		
	e) Discretionary Debtor Limit (see Clause 7)	  	e) Abnehmerlimitselbstvergabe (siehe Ziffer 7)
		
	Domestic/Export 10,000 EUR	  	Im Inland/im Ausland 10.000 EUR
		
	Limit fees for each debtor and for each contractual year:	  	Limitgebühren für jeden Abnehmer und für jedes Vertragsjahr:
		
	1. domestic 30 EUR/40 USD/40 CHF/25 GBP	  	1. Im Inland 30 EUR/40 USD/40 CHF/25 GBP
		
	2. export 60 EUR/80 USD/80 CHF/50 GBP	  	2. Im Ausland 60 EUR/80 USD/80 CHF/50 GBP

  
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	f) The ORIGINATOR shall bear all costs, fees and expenses charged by any credit institution with respect to payments made by any Debtors and which have been charged to any Pledged Accounts or to GE CAPITAL.	  	f) Der KUNDE trägt alle Kosten, Gebühren und Auslagen die von jedem Kreditinstitut im Hinblick auf die von jedem Abnehmer geltend gemachten Zahlungen erhoben werden und die jedem verpfändeten Bankkonto
oder GE CAPITAL berechnet werden.
		
	Whereas a “domestic Debtor” shall be a Debtor domiciled in the same jurisdiction as the ORIGINATOR, and whereas the limit fee’s currency shall be the main currency in which the majority of the respective
Debtor’s Receivables are denominated.	  	Wonach ein „inländischer Abnehmer” ein Abnehmer mit Sitz am Ort der gleichen Rechtswahl wie der KUNDE ist, und wonach die Währung für die Limitgebühr die Hauptwährung ist, auf welche die
Mehrheit der Forderungen des jeweiligen Abnehmers lauten.
		
	The ORIGINATOR shall bear all costs, fees and expenses for keeping the Pledged Accounts and for the transfer of any moneys.	  	Der KUNDE trägt alle Kosten, Gebühren und Auslagen zur Unterhaltung der verpfändeten Bankkonten und für die Überweisungen von Geldern.
		
	Aforementioned Financing Commission Rate, fees and commissions are stated excluding the legal value added tax (VAT).	  	Die vorstehende Finanzierungsgebührrensatz, andere Gebühren und Provisionen verstehen sich zuzüglich der gesetzlichen Umsatzsteuer.
		
	4. Maximum Commitment: GE CAPITAL will set a maximum limit for each Constellium Singen GmbH, Constellium Extrusions Deutschland GmbH and Constellium Valais S.A.provided that the total aggregate Maximum Commitment under the
respective factoring agreements between GE CAPITAL and Constellium Singen GmbH, Constellium Extrusions Deutschland GmbH and Constellium Valais S.A. amounts to 115,000,000.00 EUR (one hundred fifteen million Euro) and which can be changed upon
request of the respective originator(s).	  	4. Höchstobligo: GE CAPITAL wird eine Obergrenze für jede Constellium Singen GmbH, Constellium Extrusions Deutschland GmbH und Constellium Valais S.A festlegen, unter der Maßgabe, dass das
Gesamthöchstobligo der jeweiligen Factoringverträge zwischen GE CAPITAL und Constellium Singen GmbH, Constellium Extrusions Deutschland GmbH und Constellium Valais S.A. 115.000.000,00 EUR (einhundert fünfzehn Millionen Euro)
beträgt und auf Antrag des jeweiligen Kunden geändert werden kann.
		
	5. Commencement Date:	  	5. Vertragsbeginn:
		
	This agreement will become effective on the date on which all conditions precedent as stated in Schedule 3 are fulfilled to the satisfaction of GE CAPITAL. GECAPITAL will confirm vis-à-vis the ORIGINATOR the fulfilment
of the conditions precedent and the commencement of this agreement (Condition Precedent).	  	Dieser Vertrag wird wirksam an dem Tag, an dem sämtliche in Anhang 3 enthaltenen Bedingungen zur Zufriedenheit von GE CAPITAL erfüllt sind. GE CAPITAL wird gegenüber dem KUNDEN die Erfüllung der
Bedingungen und den Beginn dieses Vertrags bestätigen (aufschiebende Bedingung).

  
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	6. Termination Date:	  	6. Vertragsablaufdatum:
		
	5 calendar years after the Commencement Date (clause 5 of this Schedule 1).	  	5 Kalenderjahre nach dem Vertragsbeginn (Ziffer 5 dieses Anhangs 1).
		
	7. The ORIGINATOR and/or GE CAPITAL reserves the right to retain payments of the purchase price in respect of Receivables against single Debtors or debtor credit units—in terms of § 19 of the German
Banking Act (Kreditwesengesetz) – as long as they show a greater concentration than 30% of the amount of all purchased and still unsettled Receivables of the ORIGINATOR against all its Debtors.	  	7. Der KUNDE und/oder GE CAPITAL behält sich das Recht vor, Kaufpreiszahlungen für Forderungen gegen einzelne Abnehmer bzw. Abnehmerkrediteinheiten – im Sinne von § 19 Kreditwesengesetz
– solange zurückzuhalten, soweit sie mehr als 30% aller gekauften und noch offenen Forderungen des KUNDEN gegen alle seine Abnehmer ausmachen.
		
	8. Pledged Accounts:	  	8. Verpfändete Bankkonten:
		
	In accordance with section 13.3 (c) of the Factoring Agreement, the ORIGINATOR and GE CAPITAL agree that the ORIGINATOR shall pledge the following accounts in favour of GE CAPITAL by entering into an agreement on the date
hereof, in substantially the form as set out in Annex 5 (Account Pledge Agreement) for the accounts:	  	In Übereinstimmung mit Ziffer 13.3 (c) des Factoringvertrages vereinbaren der KUNDE und GE CAPITAL, dass der KUNDE die folgenden Konten zugunsten von GE CAPITAL verpfändet, indem zum entsprechenden Zeitpunkt ein Vertrag
über die Konten geschlossen wird, der im Wesentlichen der in Anlage 5 (Kontoverpfändungsvertrag) festgelegten Form entspricht:

  

							
	 Account Bank (name and address

Kontoführende Bank (Name und
Adresse)
	  	 Swift
	  	IBAN	  	Currency Währung
	 Deutsche Bank
 Rotteckring 3

D-79098 Freiburg
	  	DEUTDE6F692	  	DE15692700380075310300	  	EUR
				
	ATT: Roland Hehn Phone: +49 761 2184 233 Fax: +49 711 125 4100	  		  		  	

  
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	 Deutsche Bank
 Rotteckring 3

D-79098 Freiburg
  

ATT: Roland Hehn Phone: +49 761 2184 233 Fax: +49 711 125 4100
	  	DEUTDE6F692	  	DE15692700380075310300	  	GBP
				
	 Deutsche Bank
 Rotteckring 3

D-79098 Freiburg
  

ATT: Roland Hehn Phone: +49 761 2184 233 Fax: +49 711 125 4100
	  	DEUTDE6F692	  	DE15692700380075310300	  	USD

  

			
	All ORIGINATOR’s accounts for incoming payments relating to Receivables. The ORIGINATOR will provide GE CAPITAL without delay with a chart containing all necessary details.	  	Alle Konten des KUNDEN für Zahlungseingänge im Hinblick auf die Forderungen. Der KUNDE wird GE CAPITAL eine Aufstellung mit allen erforderlichen Daten unverzüglich zukommen lassen.
		
	9. Factoring-Procedure: undisclosed Inter-Credit-Factoring	  	9. Factoring-Verfahren: stilles Inter-Credit-Factoring.
		
	10. Note of assignment (in the Disclosed Procedure): “We have assigned our receivables to GE Capital Bank AG, Heinrich-von-Brentano-Str. 2, 55130 Mainz, Germany, pursuant to an ongoing factoring arrangement, respectively
authorized GE Capital Bank AG to collect receivables on our behalf. Payments must be made by way of wire transfer to the following account: number: 300111800, bank sort code: 550 305 00, BIC: HRBKDE51, IBAN: DE12 5503 0500 0300 1118 00 or by cheque
directly to GE Capital Bank AG, Heinrich-von-Brentano-Str. 2, 55130 Mainz, Germany.”	  	10. Abtretungsvermerk (im offenen Verfahren): „Wir haben unsere Forderungen im Rahmen eines laufenden Factoringverfahrens an GE Capital Bank AG, Heinrichvon- Brentano-Str. 2, 55130 Mainz, Deutschland abgetreten bzw. GE
Capital Bank AG zum Forderungseinzug ermächtigt. Zahlungen sind zu leisten per Überweisung auf das Konto: Kontonummer: 300111800, Bankleitzahl: 550 305 00, BIC: HRBKDE51, IBAN: DE12 5503 0500 0300 1118 00 oder per Scheck direkt an GE
Capital Bank AG, Heinrich-von-Brentano-Str. 2, 55130 Mainz, Deutschland.”
		
	11. Binding Version: This Agreement and their respective Schedules and Annexes as well as any country specific supplement (if any) shall be executed in the German and the English language; both versions, the German as well as
the English language versions shall be binding versions.	  	11. Verbindliche Fassung: Dieser Vertrag und die entsprechenden Anhänge und Anlagen sowie länderspezifische Zusätze (sofern zutreffend) wird in der deutschen und der englischen Sprache vollzogen; beide
Fassungen, die deutschen als auch die englischen Sprachversionen stellen verbindliche Fassungen dar.

  
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	SCHEDULE 1a: Excluded Debtors	  	ANHANG 1a: Ausgenommene Abnehmer
		
	a) General:	  	a) Allgemein
		
	All Affiliated Companies are Excluded Debtors.	  	Alle Nahestehenden Unternehmen sind ausgenommene Abnehmer
		
	All Debtors against which the ORIGINATOR may have any claims which are not subject to the Approved Jurisdictions as set forth in Schedule 1b, shall be Excluded Debtors.	  	Alle Abnehmer, gegen die der KUNDE Ansprüche haben kann und die nicht den in Anhang 1b festgelegten anerkannten Gerichtsständen unterliegen, sind ausgenommene Abnehmer.
		
	All Debors which prepay their claims and all Debtors which pay their debt on delivery (Prepayment Debtors), shall be Excluded Debtors. A list of all Prepayment Debtors contained in sub-clause b) below. The Parties
agree that the list of Prepayment Debtors may be amended and expanded from time to time at the ORIGINATOR’s request, subject to GE CAPITAL’s approval, which may not be unreasonably withheld.	  	Alle Abnehmer, die ihre Ansprüche im Voraus bezahlen und alle Abnehmer die ihre Schulden bei Lieferung bezahlen (vorauszahlende Abnehmer), sind ausgenommene Abnehmer. Die Parteien vereinbaren, dass die
Liste der vorauszahlenden Abnehmer auf Verlangen des KUNDEN und unter der Voraussetzung der Zustimmung von GE CAPITAL, die nicht willkürlich vorenthalten werden darf, von Zeit zu Zeit geändert und erweitert werden kann
		
	 a) In particular:
  
	  	b) Insbesondere

 PCA 

Warenempfänger: 
 Peugeot
Citroen A. Slovakia S.R.O. 
 Zavarska Cesta 

CZ-919 26 Trnava 
 Czech
Republic/Tscheschien 
 Customer-no./KD-Nr: 3006515 

Regulierer: 
 PCA SLOVAKIA S.R.O.

 Automobilova Ulica 1, 91 701 Trnava 

TSA 80001 
 FR-78091 YVELINES CEDEX
9 
 France/Frankreich 

Customer-no./KD-Nr: 3006070 

  
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	Execution Version	  	26 March 2014

  

GM-Polen: 
 General Motors

 Manufacturing Poland Sp. Z 
 UL
Adama Opla 1 
 PL-44-121 Gliwice 

Poland/Polen 
 Customer-no./KD-Nr:
3003327 
 ThyssenKrupp MetalServ GmbH 

Hans-Günther-Sohl-Str. 1 

40235 Düsseldorf 

Germany/Deutschland 
 - incl. all
subsidiaries/inkl. aller Niederlassungen 
 Customer-no./KD-Nr: 1048500 

ThyssenKrupp Schulte GmbH 

Hans-Günther-Sohl-Str. 1 

40235 Düsseldorf 

Germany/Deutschland 
 - incl. all
subsidiaries/inkl. aller Niederlassungen – 
 Customer-no./KD-Nr: 1038000 

General Motors UK Ltd. 
 Carretera
N-150 Km 6.7 
 Edificio Cristal, Sector Baricentro 

08210 Barbera del Valles 

ES-Barcelona 
 Spain/Spanien 

Customer-no./KD-Nr: 3001217 

General Motors Espana 
 PG
Enterrios Ctra N232 KM29 
 50639 Figueruelas - Zaragoza NIF ESB50629187 

Spain/Spanien 
 Customer-no./KD-Nr:
3002099 
 MVG Metallverwertungsges.mbH 

Buchheimer-Str.13 
 79288 Gottenheim

 Germany/Deutschland 
 Customer
no./KD-Nr.: 1118870 

  
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	Execution Version	  	26 March 2014

  
 THÖNI
Industriebetriebe GmbH 
 Obermarktstraße 48 

AT - 6410 Telfs 

Österreich/Austria 
 Customer
no./KD-Nr.: 4147900 
 Metal Exchange International GmbH 

Seefeldstr. 45 
 CH - 8008
Zürich 
 Switzerland/Schweiz 

Customer no./KD-Nr.: 3005862 

ODDO&CIE 
 12bd de la Madeline
Paris 
 FR - 75440 Paris Cedex 09 

France/Frankreich 
 Customer
no./KD-Nr.: 3005847] 
  

			
	Prepayment Debtors:	  	Vorauszahlende Abnehmer:
		
	Currently none, but subject to the Parties’ right as set out in sub-clause a above	  	Derzeit keine; abhängig jedoch von dem den Parteien zustehenden Recht gemäß Abschnitt a (siehe oben).
		
	SCHEDULE 1b: Approved Jurisdictions	  	ANHANG 1b: Anerkannte Rechtsordnungen
		
	AT: Austria	  	AT: Österreich
	AU: Australia	  	AU: Australien
	BE: Belgium	  	BE: Belgien
	BG: Bulgaria	  	BG: Bulgarien
	BR: Brazil	  	BR: Brasilien
	CA: Canada	  	CA: Kanada
	CH: Switzerland	  	CH: Schweiz
	CN: China	  	CN: China
	CY: Cyprus	  	CY: Zypern
	CZ: Czech Republic	  	CZ: Tschechische Republik
	DE: Germany	  	DE: Deutschland
	DK: Denmark	  	DK: Dänemark
	EE: Estonia	  	EE: Estland
	ES: Spain	  	ES: Spanien
	FI: Finland	  	FI: Finnland
	FR: France	  	FR: Frankreich
	GB: Great Britain	  	GB: Groß-Britannien

  
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	Execution Version	  	26 March 2014

  
  

			
	GR: Greece	  	GR: Griechenland
	HR: Croatia	  	HR: Kroatien
	HU: Hungary	  	HU: Ungarn
	IE: Ireland	  	IE: Irland
	IL: Israel	  	IL: Israel
	IN: India	  	IN: Indien
	IS: Island	  	IS: Island
	IT: Italy	  	IT: Italien
	JP: Japan	  	JP: Japan
	LT: Lithuania	  	LT: Littauen
	LU: Luxemburg	  	LU: Luxemburg
	LV: Latvia	  	LV: Lettland
	MT: Malta	  	MT: Malta
	MIX: Mexico	  	MIX: Mexiko
	MY: Malaysia	  	MY: Malaysia
	NL: The Netherlands	  	NL: Niederlande
	NO: Norway	  	NO: Norwegen
	PL: Poland	  	PL: Polen
	PT: Portugal	  	PT: Portugal
	RO: Romania	  	RO: Rumänien
	SE: Sweden	  	SE: Schweden
	SG: Singapore	  	SG: Singapur
	SI: Slovenia	  	SI: Slovenien
	SK: Slovakia	  	SK: Slowakei
	SM: San Marino	  	SM: San Marino
	TH: Thailand	  	TH: Thailand
	TN: Tunisia	  	TN: Tunesien
	TR: Turkey	  	TR: Türkei
	TW: Taiwan	  	TW: Taiwan
	UA: Ukraine	  	UA: Ukraine
	US: United States of America	  	US: Vereinigte Staaten von Amerika
	ZA: South Africa	  	ZA: Südafrika
		
	SCHEDULE 2–DECLARATION OF CONSENT	  	ANHANG 2 -EINWILLIGUNGSERKLÄRUNG
		
	Declaration of consent for the collection, processing and usage of data and the confidentiality obligations of tax authorities	  	Einwilligungserklärung zur Erhebung, Verarbeitung und Nutzung von Daten und der Schweigepflicht der Finanzämter
		
	I. Collection, processing and usage of data by the GE Capital Bank AG	  	I. Erhebung, Verarbeitung und Nutzung von Daten durch die GE Capital Bank AG
		
	1. GE Capital Bank AG collects, processes and uses data in connection with the preparation, execution and implementation of the factoring agreement with respect to	  	1. GE Capital Bank AG collects, processes and uses data in connection with the preparation, execution and implementation of the factoring agreement with respect to

  
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	– name and address of Constellium Singen GmbH and Constellium Extrusions Deutschland GmbH,	  	– Name und Anschrift von Constellium Singen GmbH und Constellium Extrusions Deutschland GmbH,
		
	– information provided in the annual financial statements,	  	– Informationen, die aus einem Jahresabschluss ersichtlich sind,
		
	– accounts receivable of the ORIGINATOR against its debtors (creditor, debtor, subject, amount, credit worthiness of the ORIGINATOR, legal existence of the accounts receivable, potential security interests of other
creditors),	  	– Forderungen des KUNDEN gegen seine Abnehmer (Gläubiger, Schuldner, Forderungsgegenstand, Forderungshöhe, Bonität des Abnehmers, Verität der Forderung, etwaige Sicherungsrechte anderer
Gläubiger,
		
	– debtor limits and their respective utilisation,	  	– Abnehmerlimite und deren Ausnutzung,
		
	– balances on accounts maintained in accordance with the factoring agreement,	  	– Kontostände der gemäß Factoringvertrag geführten Konten,
		
	– hereinafter referred to as “Data”, but in each case only in accordance with the factoring agreement.	  	– nachstehend als „Daten” bezeichnet, aber in jedem Fall nur im Zusammenhang mit dem Factoringvertrag
		
	2. The ORIGINATOR authorises and consents to the transfer of data by GE Capital Bank AG to affiliated companies and/or service providers and the processing (including transfer) and using of such Data by the relevant companies if and
to the extent that this is necessary for the following purposes:	  	2. Der KUNDE erklärt sich damit einverstanden, dass GE Capital Bank AG die Daten an verbundene Unternehmen und/oder Dienstleistungsunternehmen übermittelt und dass diese ihrerseits die Daten verarbeiten
(einschließlich Übermittlung) und nutzen, wenn und soweit dies zu folgenden Zwecken erfolgt:
		
	– Compliance by GE Capital Bank AG with its obligations under the factoring agreement, including the processing of Data for such purposes in data processing centers.	  	– Erfüllung von der GE Capital Bank AG nach dem Factoringvertrag obliegenden Aufgaben einschließlich der Verarbeitung der Daten zu diesen Zwecken in Rechenzentren,
		
	– Compliance with reporting obligations resulting from statutory or internal regulations applicable to GE Capital Bank AG and/or its affiliated companies, including reporting obligations vis-à-vis committees or control
functions of the relevant affiliated companies inside or outside of the European Economic Area.	  	– Erfüllung von durch Rechtsvorschriften Oder konzernintern angeordneten Berichtspflichten, die der GE Capital Bank AG und/oder verbundenen Unternehmen obliegen, einschließlich von Berichtspflichten gegenüber
Gremien und Kontrollorganen der Verbundenen Unternehmen innerhalb und außerhalb des europäischen Wirtschaftsraumes,

  
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	– Evaluation and reporting within the General Electric group as well as market- and statistical analyses.	  	– Auswertungen und Berichterstattung innerhalb des General Electric Konzerns, sowie Marktanalysen und statistische Analysen,
		
	– Feeding of Data into an information system which is only accessible to members of the General Electric group, and from which GE Capital Bank AG may retrieve Data (which were not transferred by it for its business
purposes.	  	– Einstellung der Daten in ein ausschließlich für Unternehmen des General Electric Konzerns nutzbares Informationssystem, aus dem auch die GE Capital Bank AG für ihre Geschäftszwecke auch von ihr nicht
übermittelte Daten abrufen kann.
		
	3. The ORIGINATOR furthermore consents to the transfer of Data by GE Capital Bank AG to credit- or financial institutions and to the processing of the transferred Data (incl. transfer and usage of such data) by such institutions if
and to the extent that this transfer occurs in connection with a transfer or pledge of the factoring agreement, rights or claims resulting from the factoring agreement or purchased receivables for the purposes of refinancing GE Capital Bank AG or in
connection with the administration or collection of receivables.	  	3. Der KUNDE erklärt sich weiterhin damit einverstanden, dass die GE Capital Bank AG Daten an andere Kreditinstitute oder Finanzinstitute übermittelt, und dass diese Ihrerseits die Daten verarbeiten (einschließlich
Übermittlung und Nutzung), wenn und soweit diese Übertragung im Zusammenhang mit einer Übertragung oder Verpfändung des Factoringvertrages oder von Rechten oder Forderungen aus dem Factoringvertrag oder angekauften Forderungen
für Zwecke der Refinanzierung der GE Capital Bank AG oder im Zusammenhang mit der Verwaltung oder Einziehung von Forderungen geschieht.
		
	In this context, the ORIGINATOR releases GE Capital Bank AG from any legal restrictions with respect to the collection, processing and usage of Data.	  	In diesem Zusammenhang befreit der KUNDE die GE Capital Bank AG von gesetzlichen Beschränkungen zur Erhebung, Verarbeitung und Nutzung von Daten.
		
	II. Transfer of Data to GE Capital Bank AG	  	II. Übermittlung von Daten an die GE Capital Bank AG
		
	The ORIGINATOR releases all financial institutions with which it cooperates from the banking secrecy and any other legal restrictions with respect to the transfer of data, to the extent that GE Capital Bank AG requests information
from the relevant financial institution which is relevant for the compliance with the obligations under the factoring agreement. This includes information with respect to:	  	Der KUNDE befreit alle mit ihm zusammenarbeitenden Finanzinstitute vom Bankgeheimnis und anderweitig durch Rechtsvorschriften begründeten Einschränkungen der Datenübermittlung, soweit die GE Capital Bank AG bei dem
jeweiligen Finanzinstitut Anfragen stellt, die für die Erfüllung des Factoringvertrages von Bedeutung sind. Dies betrifft Informationen betreffend:

  
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	– Security interests of the relevant financial institution with respect to receivables of the ORIGINATOR, including ancillary rights, and other movable current assets,	  	– Sicherungsrechte des Finanzinstituts an Forderungen des KUNDEN einschließlich Nebenrechten und an sonstigem beweglichen Umlaufvermögen.
		
	– Payments received with respect to receivables assigned to GE Capital Bank AG and any other information relating such receivables.	  	– Zahlungseingänge auf Forderungen, die der GE Capital Bank AG abgetreten sind und etwaige sonstige Informationen in Bezug auf solche Forderungen.
		
	– Information available to the relevant financial institution regarding the creditworthiness of the ORIGINATOR.	  	– Bei dem Finanzinstitut vorhandene Informationen über die Bonität des KUNDEN.
		
	The ORIGINATOR consents to GE Capital Bank AG treating these Data in accordance with item. I. above.	  	Der KUNDE erklärt sich damit einverstanden, dass die GE Capital Bank AG solche Daten nach Maßgabe von Ziffer I. behandelt.
		
	III. Release of tax authorities from confidentiality obligations	  	III. Befreiung von der Schweigepflicht der Finanzämter
		
	The ORIGINATOR hereby releases the tax authorities which may be involved from their relevant confidentiality obligations with respect to VAT payable by the ORIGINATOR and undertakes to repeat such release directly vis-à-vis
the relevant tax authorities in the appropriate form.	  	Der KUNDE entbindet hiermit die befassten Finanzämter in Bezug auf die vom 32 KUNDEN zu entrichtende Umsatzsteuer von der Schweigepflicht und verpflichtet sich, diese Entbindungserklärung direkt gegenüber den
Finanzämtern in geeigneter Form zu wiederholen.

  
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	Execution Version	  	26 March 2014

  

			
	SCHEDULE 3 - Condition Precedents	  	ANHANG 3 - Aufschiebende Bedingungen
		
	The Commencement Date can only occur upon fulfilment of the following condition precedents:	  	Der Vertragsbeginn ist aufschiebend bedingt durch den Eintritt der folgenden Bedingungen.

  

					
	 CP
	  	 Document
	  	 Required Form

			
		  	I. Corporate Documents	  	
			
		  	1. Directors’ certificate with respect to the corporate documents, the company’s solvency, specimen signatures	  	
			
	(1)	  	a) Constellium Singen GmbH	  	Orignal
			
	(2)	  	b) Constellium Extrusions Deutschland GmbH	  	Orignal
			
	(3)	  	c) Constellium Valais S.A.	  	Original
			
		  	2. Excerpt from the commercial register (dated less than 2 weeks prior to signing)	  	
			
	(4)	  	a) Constellium Singen GmbH	  	Inspection of Online Register
			
	(5)	  	b) Constellium Extrusions Deutschland GmbH	  	Inspection of Online Register
			
	(6)	  	c) Constellium Valais S.A.	  	Certified Copy
			
		  	3. Articles of Association	  	
			
	(7)	  	a) Constellium Singen GmbH	  	Copy
			
	(8)	  	b) Constellium Extrusions Deutschland GmbH	  	Copy
			
	(9)	  	c) Constellium Valais S.A.	  	Copy
			
		  	4. Shareholder list	  	
			
	(10)	  	a) Constellium Singen GmbH	  	Copy
			
	(11)	  	b) Constellium Extrusions Deutschland GmbH	  	Copy
			
		  	5. Shareholder Resolution approving the terms and conditions of the transaction; no changes to corporate documents; specimen signatures	  	
			
	(12)	  	a) Constellium Singen GmbH	  	Copy
			
	(13)	  	b) Constellium Extrusions Deutschland GmbH Copy	  	Copy
			
	(14)	  	c) Constellium Valais S.A.	  	Copy

  
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	Execution Version	  	26 March 2014

  

					
	 CP
	  	 Document
	  	 Required Form

		  	6. Board Resolution approving the terms and conditions of the transaction; no changes to corporate documents, specimen signatures	  	
			
	(15)	  	a) Constellium Valais S.A.	  	Copy
			
		  	7. Power of Attorneys (if somebody different from the companies’ authorized representatives will be signing any document)	  	If applicable
			
	(16)	  	a) Constellium Singen GmbH	  	Orignal
			
	(17)	  	b) Constellium Extrusions Deutschland GmbH	  	Orignal
			
	(18)	  	c) Constellium Aluminium Valais S.A.	  	Orignal
			
		  	II. Legal Opinions	  	
			
	(19)	  	a) Legal Opinion delivered by CC and satisfactory to the GE Capital in respect of the capacity and authority of the German Sellers in connection with the execution and performance of the Factoring
Agreement and all other related transaction documents	  	PDF, Original to follow
			
	(20)	  	b) Legal Opinion delivered by WWP in respect of the capacity and authority of the Swiss Seller in connection with the execution and performance of the Factoring Agreement and all other related transaction documents	  	PDF, Original to follow
			
	(21)	  	c) Legal Opinion delivered by Mayer Brown and satisfactory to GE Capital relating to the validity of the AR Financing Facilities Documents and all other relevant transaction documents under German law	  	PDF, Original to follow
			
	(22)	  	d) Legal Opinion delivered by Pestalozzi and satisfactory to GE Capital relating to the validity of the AR Financing Facilities Documents and all other relevant transaction documents under Swiss law	  	PDF, Original to follow
			
		  	III. AR Financing Facilities Documents	  	
			
		  	1. Constellium Singen GmbH	  	
			
	(23)	  	a) Customary information reasonably satisfactory to GE Capital on the existing relevant receivables to be purchased	  	PDF
			
	(24)	  	b) Factoring Agreement	  	Original/PDF
			
		  	2. Constellium Extrusions Deutschland GmbH	  	
			
	(25)	  	a) Customary information reasonably satisfactory to GE Capital on the existing relevant receivables to be purchased	  	PDF

  
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	Execution Version	  	26 March 2014

  

					
	 CP
	  	 Document
	  	 Required Form

	(26)	  	b) German CED RPA Original/PDF	  	Original/PDF
			
		  	3. Constellium Valais S.A.	  	
			
	(27)	  	a) Customary information reasonably satisfactory to GE Capital on the existing relevant receivables to be purchased	  	PDF
			
	(28)	  	b) Swiss RPA Original/PDF	  	Original/PDF
			
	(29)	  	c) Country Specific Amendment	  	Original/PDF
			
	(30)	  	4. Fee Letter	  	Original/PDF
			
	(31)	  	5. Intercreditor Agreement	  	Original/PDF
			
	(32)	  	6. Parent Guarantee (Germany)	  	Original/PDF
			
		  	IV. Credit Insurance	  	
			
		  	1. Constellium Singen GmbH	  	
			
	(33)	  	a) Receipt of credit insurance policies	  	
			
	(34)	  	b) Standard credit insurance information, evidencing that in each year, the maximum annual indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors	  	PDF
			
	(35)	  	c) Trade Credit Insurance Agreement	  	Original
			
	(36)	  	 d) Trade Credit Insurance Assignment Agreement
  

i) Coface
  

ii) ACE European Group (Limit Plus)
  

iii) Euler Hermes
	  	
			
		  	2. Constellium Extrusions Deutschland GmbH	  	
			
	(37)	  	a) Receipt of credit insurance policies	  	PDF
			
	(38)	  	b) Standard credit insurance information, evidencing that in each year, the maximum annual indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors	  	PDF
			
	(39)	  	c) Trade Credit Insurance Agreement	  	Original
			
	(40)	  	d) Trade Credit Insurance Assignment Agreement	  	Original
			
		  	i) Coface	  	
			
		  	3. Constellium Valais S.A.	  	PDF

  
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	Execution Version	  	26 March 2014

  

					
	 CP
	  	 Document
	  	 Required Form

	(41)	  	a) Receipt of credit insurance policies	  	PDF
			
	(42)	  	b) Standard credit insurance information, evidencing that in each year, the maximum annual indemnification amount under the relevant credit insurance is sufficient to cover the applicable credit limit of the top five debtors	  	PDF
			
	(43)	  	c) Trade Credit Insurance Agreement	  	Original
			
	(44)	  	 d) Trade Credit Insurance Assignment Agreement
  

i) Coface
	  	Original
			
		  	V. Collection Accounts	  	
			
		  	1. Constellium Singen GmbH	  	
			
	(45)	  	a) Account Pledge Agreement	  	Original
			
		  	2. Constellium Extrusions Deutschland GmbH	  	Original
			
	(46)	  	a) Account Pledge Agreement	  	
			
		  	3. Constellium Valais S.A.	  	
			
	(47)	  	 a) Account Assignment/Pledge Agreement
  

i) Credit Suisse
  

ii) Deutsche Bank
	  	Original
			
		  	VI. Consent letter, if applicable, with respect to those debtors with a ban of assignment clause	  	
			
	(48)	  	 a) Constellium Singen GmbH: 1
  

b) Constellium Extrusions Deutschland GmbH: not applicable
  

c) Constellium Valais S.A., 2
	  	PDF
			
		  	VII. Know-Your-Customer	  	
			
	(49)	  	1. Constellium Singen GmbH	  	PDF
			
	(50)	  	2. Constellium Extrusions Deutschland GmbH	  	PDF
			
	(51)	  	3. Constellium Valais S.A.	  	PDF
			
		  	VIII. Receivables	  	
			
		  	1. Statement re Reimbursement Claims, e.g. current status of bonuses granted, etc.	  	
			
	(52)	  	a) Constellium Singen GmbH	  	PDF
			
	(53)	  	b) Constellium Extrusions Deutschland GmbH	  	PDF

  
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	 CP
	  	 Document
	  	 Required Form

	(54)	  	c) Constellium Valais S.A.	  	PDF
			
		  	2. Statement re Tolling/Pseudo Tolling Reimbursement Claims	  	
			
	(55)	  	a) Constellium Singen GmbH	  	PDF
			
	(56)	  	b) Constellium Extrusions Deutschland GmbH	  	PDF
			
	(57)	  	c) Constellium Valais S.A.	  	PDF
			
		  	3. VAT information	  	
			
	(58)	  	a) Constellium Singen GmbH	  	PDF
			
	(59)	  	b) Constellium Extrusions Deutschland GmbH	  	PDF
			
	(60)	  	c) Constellium Valais S.A.	  	PDF
			
		  	IX: Miscellaneous	  	
			
		  	1. Auditor Agreement (sec. 13.4 of the factoring agreement)	  	
			
	(61)	  	a) Constellium Singen GmbH	  	Original
			
	(62)	  	b) Constellium Extrusions Deutschland GmbH	  	Original
			
	(63)	  	c) Constellium Valais S.A.	  	Original
			
		  	2. Negative pledge confirmations (corresponding reassignments if necessary) of all financing banks and investors	  	
			
	(64)	  	a) Constellium Singen GmbH	  	PDF
			
	(65)	  	b) Constellium Extrusions Deutschland GmbH	  	PDF
			
	(66)	  	c) Constellium Valais S.A.	  	PDF
			
		  	3. Evidence regarding the Completion of the Acquisistion	  	
			
	(67)	  	Copy of the executed share purchase agreement between inter alia AIF VII Euro Holdings, L.P. and Rio Tinto in the form agreed by GE Factofrance.	  	PDF
			
	(68)	  	Written confirmation by Wachtell, Lipton, Rosen & Katz that the Acquisition has been completed.	  	PDF
			
		  	X: Swiss Taxes / VAT	  	
			
	(69)	  	1. True sale tax ruling	  	PDF
			
	(70)	  	2. VAT Tax Ruling re no acceleration	  	PDF
			
	(71)	  	3. VAT Ruling re no secondary liability	  	PDF

  
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	Execution Version	  	26 March 2014

  
 Annex 1

 Transfer of French Receivables 

FRENCH PROVISIONS 
 Reference is
made to a factoring agreement to be dated 16 December 2010 and entered into between Constellium Singen GmbH and GE CAPITAL (the “Factoring Agreement”). 

Capitalised terms defined in the Factoring Agreement have, unless expressly defined in this Agreement, the same meaning in this Agreement. 

The following clauses of the Factoring Agreement shall be amended/replaced and shall read as follows: 

1. AMENDMENTS TO THE FACTORING AGREEMENT 
 (a) The
parties agree to amend Clause 2.2 of the Factoring Agreement in respect of the assignment of French Receivables by following paragraphs 2.2.1 to 2.2.5:  

“2.2.1 For the purpose of effecting the transfer of the French Receivables pursuant to the Factoring Agreement, GE CAPITAL and the ORIGINATOR shall follow
the steps and procedure described below. 
 2.2.2 Transfer mode 

On each Transfer Date, the transfer of French Receivables from the ORIGINATOR to GE CAPITAL shall be performed by way of a transfer document (acte
de cession de créances professionnelles) complying with articles L. 313-23 et seq. and articles R. 313-15 et seq. of the French Monetary and Financial Code (Code Monétaire et Financier) and in the form set out
in Schedule 1 (a French Transfer Document). 
 The statutory guarantee provided for under article L. 313-24 al 2 of the
French Monetary and Financial Code (Code Monétaire et Financier) shall not apply. As a result, the seller shall not be held liable (garant solidaire) of the payment of any assigned Receivable. 

2.2.3 Procedure 
 The ORIGINATOR shall offer to sell French
Receivables on each Transfer Date by sending the original of a duly signed French Transfer Document in the form set out in Schedule [1]. The Computer File is attached to each French Transfer Document. The Computer File attached to this French
Transfer Document shall allow the identification and individualization of the said French Receivables. 
 By no later than [6] p.m. on the Transfer Date, GE
CAPITAL shall sign and insert the date on the French Transfer Document. The signed and dated French Transfer Document shall constitute the acceptance of GE CAPITAL to purchase the French Receivables offered pursuant to the offer to sell. 

  
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 2.2.4 Legal consequences

 The French Receivables together with any ancillary right attached thereto, shall be transferred to GE CAPITAL and such transfer shall be, as matter of
French law: 
 (a) valid between GE CAPITAL and the ORIGINATOR; 

(b) enforceable against the corresponding French Debtors; and 

(c) enforceable against third parties, 
 without any other
formality, and irrespective of the law governing the French Receivables and the law of the jurisdiction where the corresponding French Debtors are resident, in accordance with articles L. 313-23 et seq. and articles R. 313-15 et seq. of the
French Monetary and Financial Code (Code Monétaire et Financier) as of the date affixed on the relevant French Transfer Document, on which the relevant French Transfer Document is signed by GE CAPITAL provided however that: 

(i) the corresponding Debtors and provided may validly discharge their respective debts under the corresponding Receivables by making
payment to the relevant ORIGINATOR until a notice of transfer in the form of Schedule [2] is served to them; and 
 (ii) the corresponding
Debtors may assert all defences (including set-off) arising prior to a notice of transfer referred to in sub-clause (i) above is served on them. 

2.2.5 Governing law 
 This Clause 2.2 shall be governed by French
law.” 
 (b) The parties agree to amend Clause 3 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the
following Clause 3.2. (the remaining paragraphs of Clause 3 being redenominated accordingly):  
 “3.2 On each Transfer Date, GE CAPITAL
shall accept to purchase all the French Receivables set out in an ORIGINATOR’s offer to sell, it being provided that the ORIGINATOR shall have identified in each offer to sell those of the Receivables which fulfill the following criteria (the
French Eligible Receivables) and those which does not fulfill those criteria (the French Non Eligible Receivables): 
  

	(i)	the Offer Letter is correct and complete and was dispatched by the ORIGINATOR within the time line set out in clause 2.3 of the Factoring Agreement; 

 

	(ii)	the relevant French Receivable is Eligible; 

  

	(iii)	the French Debtor has been granted a payment term not exceeding 60 days after the relevant invoice date; 

  

	(iv)	the relevant French Receivable is not a claim against an Affiliated Company; 

  
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	(v)	the relevant French Receivable is within the scope of the Debtor Limit; 

  

	(vi)	the sum of the amount of the relevant Receivable and all other purchased and unpaid French Receivables against the relevant French Debtor or debtor credit unit – within the meaning of § 19 of the German
Banking Act – does not exceed 30% of all purchased and unpaid French Receivables of the ORIGINATOR against all of his French Debtors; 

  

	(vii)	the payment of the purchase price in respect of the purchased Receivable will not result in and excess of the Maximum Commitment; 

  

	(viii)	the legal relationship from which such French Receivables arise is governed by French law. 

  

	(ix)	the contracts pursuant to which such French Receivables arises do not contain a confidentiality clause or a clause banning the transfer of such French Receivables or requesting the approval of the parties of the
purchaser of such French Receivables; 

  

	(x)	such French Receivable is a valid obligation enforceable against the French Debtor; 

  

	(xi)	the payment of such French Receivable in full is (subject to any contractual set-off and right of counterclaim) legally enforceable against the Originator to whom the invoice is addressed; 

 

	(xii)	the transfer by the Originator to GE CAPITAL of such French Receivable, GE CAPITAL’s ownership of such French Receivable and the transfer to GE CAPITAL of information about a French Debtor is not made in violation
of: 

  

	 	•	 	the contract pursuant to which such French Receivable arises or any other agreement to which the Originator is a party to an extend that would have a material adverse effect on the legal transferability or
collectability of, or the legal title of GE CAPITAL to such French Receivable; or 

  

	 	•	 	any applicable laws; 

  

	(xiii)	the principal outstanding amount of such French Receivable, as notified in the relevant invoice, is the amount due in respect of that French Receivable under the relevant contract; 

 

	(xiv)	all sums due from or obligations owed by the Originator to the French Debtor have been paid or performed and the Originator does not have any other obligations towards the French Debtor which, in either case, would give
the French Debtor such right to reduce the amount payable for the French Receivable; 

  

	(xv)	the correct name and address of the French Debtor and any required purchase order number appear on each invoice or credit note, on any documents evidencing the French Receivable as required and on the invoice;

  
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	(xvi)	the contracts pursuant to which such French Receivable arises have not been entered into with suppliers of the Originator; and 

  

	(xvii)	the contracts pursuant to which such French Receivables arise have not been entered into with a public sector company.” 

(c) The parties agree to amend Clause 4 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following Clause 4.2
(the remaining paragraphs of Clause 4 being redenominated accordingly): “4.2 On each Transfer Date, the purchase price for the French Receivables purchased on that date shall be equal to the aggregate Nominal Amount of the French Eligible
Receivables purchased on that date, reduced by deductions relating to the relevant French Eligible Receivable (such as discounts) that were granted to the relevant French Debtor by the ORIGINATOR, and deducting the Factoring Commission and the Total
Financing Commission. 
 If a French Non Eligible Receivable becomes a French Eligible Receivable after its Transfer Date because of a modification
of the applicable Debtor Limit or otherwise, GE CAPITAL shall then pay to the ORIGINATOR an additional purchase price equal to the aggregate Nominal Amount of such French Receivable that have become eligible after the Transfer Date, reduced by
deductions relating to the relevant French Receivables (such as discounts) that were granted to the relevant French Debtor by the ORIGINATOR, and deducting the Factoring Commission and the Total Financing Commission. 

In the Bad Debt Case, the purchase price is reduced by the VAT amount included in the Receivable which the ORIGINATOR must claim from the
tax authorities (see clause 6.4), at the time the legal prerequisites allowing a recovery of such VAT amounts are fulfilled. GE CAPITAL undertakes to provide the ORIGINATOR with all information and documents necessary for claiming such VAT amounts
from tax authorities. 
 The purchase price regarding the French Receivables purchased on any given Transfer Date (excluding the Purchase Price
Reserve and subject to the settlement of the Total Financing Commission) shall fall due when such French Receivables are purchased. The Total Financing Commission will be charged monthly in arrears. 

Any payments in respect of the purchase price and any charges are made by book entry by GE CAPITAL on the Settlement Account.” 

(d) The parties agree to supplement Clause 19 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following
paragraphs 19.5 to 19.7:  
 “19.5 The ORIGINATOR, after having offered to sell the French Receivables to GE CAPITAL, undertakes not to cancel
or vary any of the following with respect to such French Receivable; 
  

	 	•	 	any contract pursuant to which a French Receivable arises; or 

  

	 	•	 	any related rights; or 

  

	 	•	 	any payment terms or settlement discounts; 

  
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 without GE CAPITAL’s
written consent; 
 19.6 The ORIGINATOR undertakes to make sure that every contract pursuant to which a French Receivable arises shall only be entered into
in the ordinary course of its trading activities as disclosed to GE CAPITAL;” 
 (e) The parties agree to supplement Clause 2 of the Factoring
Agreement in respect of the assignment of French Receivables by adding the following paragraph 2.5:  
 “2.5 The ORIGINATOR represents and
warrants that the receivables identified in the Offer Letter as being French Eligible Receivables, comply with the eligibility criteria set out in Clause 3.2 of the Factoring Agreement.” 

(f) The parties agree to supplement Clause 4.1 of the Factoring Agreement in respect of the assignment of French Receivables by the following paragraph
4.6:  
 “4.1 The purchase price for each purchased French Receivable shall be deemed to be inclusive of any value added tax (VAT)
(if any) and GE CAPITAL shall not be required to increase the purchase price for such VAT.” 
 (g) The parties agree to replace Clause 6 of
the Factoring Agreement in respect of the assignment of French Receivables by inserting the following paragraph 6.3 (the remaining paragraphs of Clause 6 being redenominated accordingly): 

“6.3 Bad Debt Case means, for the French Receivables, that the relevant Debtor: 

(a) fails to pay a Receivable within 120 days after its due date without disputing its obligation to pay prior to or after the expiry of such
period; or 
 (b) is in situation of état de cessation des paiements or is subject to bankruptcy proceedings (sauvegarde,
redressement or liquidation judiciaire) or amicable reorganisation (conciliation or mandat ad hoc) or is in a situation or is subject to a procedure similar to those referred to above.” 

(h) The parties agree to supplement Clause 6 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following
paragraph 6.6:  
 “6.6 GE CAPITAL hereby grants power of attorney and appoints the ORIGINATOR to act as its agent, in its name and
behalf, pursuant to the terms of a mandate (mandat) which the ORIGINATOR hereby accepts to collect and recover from the relevant tax administration, VAT which has already been paid or accounted for in respect of assigned French Receivables
which have become uncollectible.” 
 (i) The parties agree to supplement Clause 6 of the Factoring Agreement in
respect of the assignment of French Receivables by adding the following paragraph 6.7: 
 “6.7 The ORIGINATOR shall take such steps and do all
things as may be necessary or appropriate for the recovery and/or reimbursement from the relevant tax administration of the amount of VAT which has already been paid or accounted for in respect of assigned French Receivables which have become
uncollectible and are eligible for such recovery and/or reimbursement from the relevant tax administration. 

  
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 Furthermore, the
ORIGINATOR, acting as servicer of the assigned French Receivables shall transfer to GE CAPITAL the amount of VAT bad debt relief corresponding to the said assigned French Receivables that shall be recovered from, or refunded by, the relevant tax
administration.” 
 (j) The parties agree that Clause 8.1 of the Factoring Agreement shall not apply to the French Receivables.  

(k) The parties agree to amend Clause 11.1(b) of the Factoring Agreement in respect of the French Receivables by the following paragraph 11.1(b): 

 “any and all claims for delivery of such assets, in particular in the event of an unwinding of the contract, as well as the right to rescind the
contract including, for the French Receivables, any retention of title right over the goods delivered by the ORIGINATOR under such contract” 
 (l)
The parties agree to amend Clause 13 of the Factoring Agreement in respect of the assignment of French Receivables by inserting the following paragraph 13.2 (the remaining paragraphs of Clause 13 beingredenominated accordingly):  

“13.2.1 In the Disclosed Procedure for the French Receivables, GE CAPITAL (i) will notify the French Debtors of each Transfer Date by
delivering a notice of transfer in the form of Schedule 2 and, (ii) may request any or all French Debtors to accept the assignment of French Receivables owing by them in accordance with article L.313-29 of the French Monetary and Financial
Code. 
 In addition, the ORIGINATOR will indicate on its invoices a clearly visible note of assignment.” 

(m) The parties agree to supplement Clause 21 of the Factoring Agreement in respect of the French Receivables by inserting the following paragraph 21(h):
 
 “(h) Notwithstanding paragraph (c) above, the transfer of the French Receivables made in accordance with Clause 2 shall be governed by
French law and the competent court of Paris have exclusive jurisdiction to settle any dispute in relation with such assignment.” 
 (n) The
parties agree to supplement Clause 24 of the Factoring Agreement in respect of the assignment of French Receivables by adding the following paragraph: 

“All amounts expressed to be payable by the ORIGINATOR (including without limitation the Factoring Commission) shall be deemed to be
exclusive of VAT (if any). If VAT is chargeable on such amounts, the amounts payable by the ORIGINATOR shall be increased by the amount of such VAT.” 

  
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 (o) The parties
agree to amend or supplement Section F (Definitions) of the Factoring Agreement in respect of the assignment of French Receivables by adding the following definitions:  

Computer File: electronic file containing all the relevant information (including all the information set out in Clause 3.1) for the purpose of
identifying and individualizing (including, inter alia, the name and details of the French Debtor, the invoice number, the invoice issue date and the due date) the French Receivables which are owned by the Originator as at the relevant Transfer
Date. 
 Debtors: All present and future counterparties of the ORIGINATOR to contracts (including the French Debtors) pursuant to which the
ORIGINATOR owes the delivery of goods and/or the rendering of services for which the relevant counterparty owes payment, provided that the Debtors included in the factoring agreement are set out in schedule 1 (Terms and Conditions). 

French Debtor: any Debtor of a French Receivable. 

French Receivable: any Receivable which is governed by French law and owed by a French Debtor, together with the related rights listed in clause 11.1
of this agreement. 
 Transfer Date: the date on which the ORIGINATOR sends an Offer Letter to GE CAPITAL, in accordance with clause 2.3 of
this agreement. 
 Receivables: all existing and future payment receivables arising under agreements for the delivery of goods and/or the
rendering of services by the ORIGINATOR vis-à-vis its Debtors (including the French Receivables). 
 Any and all other provisions of the
Factoring Agreement shall apply and shall remain unaffected hereby. 

  
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SCHEDULE 1 
 FORM OF
FRENCH TRANSFER DOCUMENT 
 ACTE DE CESSION DE CREANCES PROFESSIONNELLES 

régi par les dispositions des Articles L. 313-23 à L. 313-34 du Code monétaire et financier 

 

	1.	CÉDANT 

 [•], une société [•], dont le siège social
est situé à v, immatriculée au [•] de [•] sous le numéro [•], représenté par
                                , dûment habilité aux fins des
présentes, (le Cédant), 
  

	2.	CESSIONNAIRE 

 GE CAPITAL BANK AG, une société [•] de droit [•],
dont le siège social est situé [•], immatriculée au [•] sous le numéro [•], représenté par [nom], [titre], dûment habilité aux fins des présentes (le
Cessionnaire), 
  

	3.	DATE 

 Date de signature et de remise de l’acte au Cessionnaire : le [date
à compléter par le Cessionnaire] 
  

	4.	CESSION DE CRÉANCES 

 Le Cédant cède au Cessionnaire les
Créances désignées au paragraphe 5 sans garantie ni recours quelconques autres que l’existence des Créances et des garanties et accessoires qui s’y attachent et ceux prévus dans le Contrat
d’Affacturage (Factoring Agreement) (le Contrat) en date du [•], selon les modalités et obligations décrites dans ledit Contrat. La cession desdites créances intervient avec jouissance à la date du
présent acte de cession de créances (l’Acte de Cession de Créance). 
  

	5.	RÉANCES CÉDÉES 

 Les créances cédées (les
Créances) correspondent à un ensemble de [nombre de Créances à compléter] créances (y compris leurs accessoires) répondant à la définition de French Receivables dont le montant total en
principal restant dû est de [à compléter] et qui sont l’ensembles des créances dont la liste figuresur les fichiers informatiques intitulés [à compléter] remis avec le présent Acte de
Cession de Créance. 
  

	6.	PRIX DE CESSION 

 [Le prix de cession total des Créances visées
à l’Article 5 est de € [montant] et est payable conformément à l’Article 4 (Purchase Price, Due Date, Reserves, Factoring Commission, Total Financing Commission) du Contrat.] 

  
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	7.	GENERAL 

 La présente cession de créances est soumise aux dispositions des
Articles L. 313-23 et suivants du Code monétaire et financier. 
 Les termes en langue anglaise figurant aux présentes ont le
sens qui leur est donné dans le Contrat. 
 Le présent acte de cession de créances et le(s) fichier(s) informatique(s)
susvisés sont établis en un seul exemplaire original, lequel est remis au Cessionnaire. 
 [•] 

Cédant 
 Représenté par : 

Nom : 
 Titre : [•] 

Le
:                                       

GE CAPITAL France AG, 
 Cessionnaire 

représentée par : 
 Nom : 

Titre : 

  
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Translation for information purposes only 

FRENCH TRANSFER DOCUMENT 
 governed by the provisions of
Articles L. 313-23 to L. 313-34 of the French Code monétaire et financier 
  

	1.	THE SELLER 

 [Name of the Seller] [type of company], having
its registered office at [•], registered with the [•], under the number [•], represented by [•], duly authorised for the purpose hereof (the Seller). 

 

	2.	THE PURCHASER 

 GE CAPITAL BANK AG [type of company], having its registered
office at [•], registered with the [•], under the number [•], , represented by [•], duly authorised for the purpose hereof (the Purchaser). 
  

	3.	DATE 

 The date of delivery of the Transfer Document to the Purchaser:
                                        [Date
to be affixed by the Purchaser]. 
  

	4.	TRANSFER OF RECEIVABLES 

 The Seller transfers to the Purchaser the receivables
(Receivables) referred to in paragraph 5 without warranty or recourse other than those provided for the existence of the Receivables and the security and ancillary rights attached thereto in accordance with the provisions of the
Factoring Agreement (the Agreement) dated [•], in accordance with the terms and conditions described in such Agreement. The transfer of the Receivables occurs on the date of this transfer document. 

 

	5.	TRANSFERRED RECEIVABLES 

 The transferred receivables (the
Receivables) correspond to [number of Receivables] (including their ancillary rights) being defined as French Receivables, having an outstanding amount of [to be inserted] and that constitute all the Receivables named
[to be inserted] in the computer file delivered with this transfer document. 
 PURCHASE PRICE 

[The total purchase price of the Receivables provided for in Article 5 is [amount] and is payable in accordance with Clause 4
(Purchase Price, Due Date, Reserves, Factoring Commission, Total Financing Commission) of the Agreement. 

  
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	6.	GENERAL 

 Capitalised terms and expressions used herein in English shall, unless the context requires
otherwise, have the meaning ascribed to them in the Agreement. 

	
	   

 [NAME OF SELLER] 
 by:

 Name: 
 Title: 

Date: 

	
	   

 [NAME OF PURCHASER] 
 by:

 Name: 
 Title: 

Date: 

  
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SCHEDULE 2 
 FORM OF
NOTIFICATION LETTER 
 NOTIFICATION AU DEBITEUR D’UNE CREANCE CEDEE EN APPLICATION 

DES ARTICLES L.313-23 A L.313-34 DU 

CODE MONETAIRE ET FINANCIER 
 [Lieu], le
[Date] 
 Lettre recommandée avec accusé de réception 

Monsieur, 
 Notification au débiteur d’une
créance cédée en application des articles L.313-23 à L.313-34 du Code monétaire 
 et financier. 

Nous nous référons au Contrat d’Affacturage (Factoring Agreement) en date du [•] 2010 conclu entre [•] en 

qualité de Cédant (Seller) et GE CAPITAL BANK AG en qualité de Cessionnaire (Purchaser) (le Contrat) et à
l’Acte de Cession de Créances Professionnelles en date du [•] portant cession par la société [•] en notre faveur. 

Dans les conditions prévues par les articles L.313-23 à L.313-34 du Code monétaire et financier [•] nous a cede les créances
suivantes dont vous êtes débiteurs envers elle : 
  

																	
	 Designation du débiteur cédé
	  	Désignation du
contrat donnant
naissance à la
créance cédée	 	 	Montant ou
évaluation du
montant de la
créance cédée	 	 	Lieu de
paiement prévu	 	 	Echéance	 
	 [•]
	  	 	[	•] 	 	 	[	•] 	 	 	[	•] 	 	 	[	•] 

 Conformément aux dispositions de l’article L.313-28 du Code monétaire et financier, nous vous demandons de
cesser, à compter de la présente notification, tout paiement au titre de ces créances à la société [•]. En conséquence, à compter de la présente notification le règlement
desdites créances devra être effectué par virement bancaire sur le compte suivant: 

  
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 Nom du
bénéficiaire : [•]; 
 Banque : [•]; 

Swift : [•]; 
 Numéro de compte : [•]; 

IBAN : [•]. 
 Par ailleurs, conformément à
l’article R. 313-16 du Code monétaire et financier, nous vous demandons de faire figurer sur toute facture présente ou future relative à toute Créance qui ne serait pas en notre possession les mentions obligatoires
suivantes : “La créance relative à la présente facture a été cédée à GE Factofrance SNC dans le cadre des articles L. 313-23 à L. 313-34 du Code monétaire et financier. Le
paiement doit être effectué par virement au compte n° [Insérer références IRAN du numéro de compte] chez [Insérer nom de la banque teneuse de compte]. 

 

			
	Fait à [•]
		
	le	 	 
		
	[•]	 	
		
	Par:	 	  

	
	Nom : [name]

  
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Translation for information purposes only 

FORM OF LETTER OF NOTIFICATION 

NOTIFICATION TO THE FRENCH DEBTOR OF THE TRANSFER OF 

RECEIVABLES IN ACCORDANCE TO ARTICLE 

313623 TO 313-34 OF THE FRENCH MONETARY AND FINANCIAL CODE 

[place], [date] 
 Registered letter with recorded delivery 

Dear Sirs, 
 Notification to the French Debtor of the
transfer of French Receivables in accordance to Article 313-23 to 313- 34 of the French Monetary and Financial Code 
 We refer to a Factoring Agreement
dated [•] 2010 entered into between [•] as Seller and GE CAPITAL BANK as 
 Purchaser (the Agreement) and to the French Transfer Document
dated [•], under which transfer of receivables has been made to our benefit. 
 In accordance with article L.313-23 to L.313-34 of the French Monetary
and Financial Code, [•] has transferred to us the following receivables in respect of which you are the debtor: 
  

																	
	 Transferred

Debtor
	  	Contract under
which the
transferred
receivable arise	 	 	Amount or
valuation of
the transferred
receivable	 	 	Contemplated
place of payment	 	 	Maturity date	 
	 [•]
	  	 	[	•] 	 	 	[	•] 	 	 	[	•] 	 	 	[	•] 

 In accordance with the provisions of article L.313-28 of the French Monetary and Financial Code, we hereby instruct you to
stop making payment of any sum due under the receivables to [•]. As from the date of receipt of this notice, we also instruct you to make payment of such sum due by your company under the receivables by direct debit bank transfer to the credit
of the following bank account: 
 Name of the beneficiary: 

Account Bank: 
 Swift: 

Account number: 

  
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 IBAN: 

Moreover, pursuant to Article R. 313-16 of the French Monetary and Financial Code, we hereby request you that all present and future invoice(s) not in
our possession relating to the Receivables include the following compulsory mention: “The receivable arising out of the present invoice has been assigned to GE Factofrance SNC pursuant to Articles L. 313-23 à L. 313-34 of the French
Monetary and Financial Code. Payment must be made by wire transfer to the following account No. [Insert IRAN references] with [Insert name of bank account]. 

 

			
	Done in [•]
		
	On	 	 
		
	[•]	 	
		
	By:	 	  

		
	Name:	 	  

  
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 ANLAGE
2 
 FORMULAR FÜR FORDERUNGSANZEIGEN 

A. German 
  

					
	 GE Capital Bank AG

Heinrich-von-Brentano-Str. 2
 55130 Mainz
	  	Einreichung Nr.:	  	1
	  	Kundennummer:	  	001 /
	  	Kunde:	  	                                    
                                         
   
	Währung:              EURO	  	  

 Bestandsveränderung Intercredit-Verfahren 

Im Rahmen des mit Ihnen geschlossenen Factoring-Vertrages übersenden wir Ihnen als Anlage nachstehend aufgeführte Unterlagen und bieten Ihnen den
Kauf und die Abtretung der nachstehend durch die beigefügten Rechnungskopien und beigefügten Dateien spezifizierten Forderungen an. Die Waren, über die wir Rechnungen erstellt haben, sind ausgeliefert. Kommissionsware wurde nicht
fakturiert. Auf den beigefügten Gutschriftsbelegen ist die jeweilige Begründung angegeben. 
  

							
	 +
	 	  
	  	 Rechnungskopien über insgesamt

(gem. beigefügtem
Additionsstreifen)                                      
                                         

	  	alter Saldo:                                   
              
				
	+	 	  
  
	  	 Lastschriftskopien über insgesamt

(gem. beigefügtem
Additionsstreifen)                                      
                                         

	  	
				
		 		  	                                     
                                         
                                         
                     	  	Zwischensumme:                                    
  
				
	./.	 	            	  	 Gutschriften über insgesamt
 (gem.
beigefügtem
Additionsstreifen)                                      
                                         

	  	
				
		 		  	 Zahlungseingang

netto                         
                                         
                                         
                         
	  	
				
		 		  	+
Abzüge                                       
                                         
                                         
   	  	
				
	./.	 		  	Zahlungseingang
brutto                                        
                                         
                     	  	
				
		 		  		  	neuer
Saldo:                                        
       

					
	  
	 		  	  

	Ort, Datum	 		  	Stempel und rechtsverb. Unterschrift

  
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 ANNEX 2

 FORM OF OFFER LETTER 

B. English 
  

					
	 GE Capital Bank AG

Heinrich-von-Brentano-Str. 2
 55130 Mainz
	  	Submission No.:	  	1
	  	ORIGINATOR number:	  	001 /
	  	ORIGINATOR:	  	                                    
                                         
   
	Currency:              EURO	  	  

 Change in inventory Intercredit-process 

On the basis of the concluded Factoring Agreement between us, please find enclosed the following listed documents. We would like to offer you the sale and
assignment of the account receivables which are specified by the enclosed invoices and files. The goods which we have invoiced have been delivered. Goods on consignment have not been billed. The enclosed receipts regarding credit balances state the
respective reason. 
  

							
	+	 	  
  
	  	 Copies of invoices amounting to
 (acc. to
enclosed addition
slip)                                        
                                         
            
	  	old balance:                                   
             
				
	+	 	  
  
	  	 Copies of debit entries amounting to

(acc. to enclosed addition
slip)                                        
                                         
            
	  	
				
		 		  	                                     
                                         
                                         
                       	  	sub-total:                                   
                  
				
	./.	 	            	  	 Credit balances amounting to
 (acc. to
enclosed addition
slip)                                        
                                         
            
	  	
				
		 		  	Receipt of payment
net                                        
                                         
                        	  	
				
		 		  	+
deductions                                       
                                         
                                         
 	  	
				
	./.	 		  	Receipt of payment
gross                                        
                                         
                    	  	
				
		 		  		  	new
balance:                                       
       

					
	  
	 		  	  

	Place, Date	 		  	Stamp andl legally binding signature

  
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 ANNEX 3

 TRADE CREDIT INSURANCE AGREEMENT 

Supplement Agreement 
 to a
Factoring Agreement 
 between 

GE Capital Bank AG, 

Heinrich-von-Brentano-Straße 2, 

55130 Mainz, Germany 

hereinafter referred to as “GE Capital” 

and 
 [•] ,
[•], 
 hereinafter referred to as “Originator” 

The Originator has entered into a trade credit insurance agreement [insurance policy no.[•]] with [•] [insurance company]. As a part
of this agreement certain credit limits are assigned to the Originator’s customers from time to time. 
 GE Capital will use these limits as a
basis for the allocation of the Debtor Limits pursuant to section 7 of the Factoring Agreement. GE Capital, however, reserves the right to modify the Debtor Limits higher or lower than set by the credit insurer’s granted limits within the
boundaries of the Factoring Agreement. Within the limit set out by GE Capital, GE Capital assumes the Bad Debt Coverage (Delkrederehaftung) pursuant to section 6 of the Factoring Agreement. 

GE Capital must be informed without undue delay (unverzüglich) about any granting, changes and cancellations of limits of which the Originator is
aware of by way of electronic transfer (i.e. the Originator shall provide GE Capital per email with scanned copies of the granted/changed/cancelled limits, as applicable). 

The Originator undertakes to pay the remuneration (fees, costs, etc.) when due to the credit insurer in accordance with the insurance policy. 

The Originator hereby undertakes to assign the payment claims against the credit insurer in accordance with the separate assignment agreement and to request
the credit insurer to approve the terms of such assignment. Furthermore, the Originator shall request the credit insurer to accept that GE Capital shall conduct the collection procedure upon revocation of the Undisclosed Procedure. The relevant
declarations are to be provided to GE Capital as soon as they have been received from the relevant credit insurance provider. 

  
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	Execution Version	  	26 March 2014

  

			
	Mainz, Germany, [•] [•], [•]
	
	GE CAPITAL BANK AG
	
	  

	Signed by: [•] [•]
	Title: [•] [•]
	
	[•]
	
	  

	Signed by: [•] [•]
	Title: [•] [•]

  
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	Execution Version	  	26 March 2014

  
 ANLAGE
3 
 WARENKREDITVERSICHERUNGSVERTRAG 

Nachtrag 
 zu einem
Factoringvertrag 
 zwischen 

GE Capital Bank AG, 

Heinrich-von-Brentano-Straße 2, 

55130 Mainz, Deutschland 

Nachstehend “GE Capital” genannt 

und 
 [•],
[•], 
 nachstehend “Kunde” genannt 

Der KUNDE hat mit [•] einen Warenkreditversicherungsvertrag (Versicherungsschein-Nr.[•]) abgeschlossen. Im Rahmen dieses Vertrages wurden
gelegentlich Limite auf die Abnehmer des Kunden gezeichnet. 
 GE Capital wird diese Limite als Grundlage für die Vergabe von Abnehmerlimiten
gemäß Ziffer 7 des Factoringvertrags verwenden. GE Capital behält sich jedoch das Recht vor, die Abnehmerlimite höher oder auch niedriger als die vom Kreditversicherer vergebenen Limite festzusetzen. Im Rahmen der von ihr
festgesetzten Limite übernimmt GE Capital die Delkrederehaftung gemäß Ziffer 6 des Factoringvertrages. 
 GE Capital ist über alle
Limiteinräumungen,—veränderungen und –streichungen, die dem Kunden bekannt sind, durch elektronische Datenübermittlung zu unterrichten (Beispiel: Der Kunde stellt GE Capital eingescannte Kopien über
Limiteinräumungen,—veränderungen und-streichungen per Email zur Verfügung). 
 Der Kunde verpflichtet sich, Entgelte (Gebühren,
Kosten, etc.) gemäß dem Versicherungsschein zu entrichten, wenn sie beim Kreditversicherer fällig werden. 
 Der Kunde verpflichtet sich
hiermit, die Auszahlungsansprüche gegenüber dem Kreditversicherer gemäß gesonderter Abtretungserklärung abzutreten und die Zustimmung des Kreditversicherers zur Abtretung einzuholen. Des Weiteren wird der Kunde den
Kreditversicherer dazu auffordern, seine Einwilligung zur Durchführung des Inkassoverfahrens im Stillen Verfahren bis auf Widerruf zu erteilen. Die entsprechenden Erklärungen sind, sobald sie vom jeweiligen Kreditversicherer empfangen
wurden, GE Capital zur Verfügung zu stellen. 

  
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	 Mainz, Deutschland, [•] [•], [•]

	
	GE CAPITAL BANK AG
	
	  

	Name: [•] [•]
	Position: [•] [•]
	
	[•]
	
	  

	Name: [•] [•]
	Position: [•] [•]

  
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	Execution Version	  	26 March 2014

  
 ANNEX 4

 ASSIGNMENT AGREEMENT ON TRADE CREDIT INSURANCE 

We, the company 
 [•], 

hereby assign the existing and future claims against 

[•] 
 arising under the Trade Credit
Insurance in relation to sold and/or assigned receivables to 
 [Insurance Policy No. [•]] 

to 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz 
 Simultaneously, the Trade Credit
Insurer is authorized to pass decisions of limits directly to GE Capital Bank AG. 
 GE Capital Bank AG and the Trade Credit Insurer are authorized to
mutually exchange any necessary information. 
  

							
	[Place[•], date[•]]	 		 	  

		 		 	Company’s stamp/Signatures

 Hereby we accept the assignment: 

Mainz, [date [•]] 
 CE Capital Bank AG 

  
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 NOTIFICATION OF
ASSIGNMENT TO TRADE CREDIT INSURER 
 [Drafting note: Depending on with which insurance companies the ORIGINATOR has entered into credit 

insurance agreements, the relevant following drafts shall be used:] 

a) Euler Hermes: 
  

			
	 Björn Hemp

Neukundenbetreuer
 GE Capital Bank AG

T +49 (0) 6131 4647 486
 M +49 (0) 162 205 4249

F +49 (0) 6131 809 337
 E bjoern.hemp@ge.com

 Euler Hermes Kreditversicherungs AG 

Niederlassung Mitte 
 Hans-Joachim Schieffer 

Große Gallusstraße 1-17 
 60311 Frankfurt 

[date [•]] 
 Assignment Agreement by
[company [•]] 
 [insurance policy no. [•]] 

Dear Madam or Sir, 
 The aforementioned company has assigned
their existing and future claims in relation to sold and assigned receivables arising under or in connection with the Trade Credit Insurance against Euler Hermes Kreditversicherungs-AG pursuant to insurance policy no. [•] to us, 

GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz, Germany 
 (see enclosure).

  
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 Kindly confirm your
approval to us in writing as to the aforementioned assignment agreement. In case you approve, kindly have all payments resulting from the claims paid to the bank account 

Account No: 300 111 
 BIN: 550 305 00 

SWIFT: HRBKDE 51 
 IBAN: DE 5503 0500 0300 11. 

Furthermore, kindly include the clause “insurance coverage for sold claims” (“Versicherungsschutz für verkaufte Forderungen”)
and thus GE Capital Bank AG as additionally insured company to the contract. As to the collection of receivables, kindly authorize GE Capital Bank AG, Mainz, Germany, to conduct the collection procedure in addition to Euler Hermes
Forderungsmanagement GmbH. 
 We appreciate your effort. 

Kind regards 
 GE Capital Bank AG 

Enclosures 

  
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 b) Coface: 

Björn Hemp 

Neukundenbetreuer 
 GE Capital
Bank AG 
 T +49 (0) 6131 4647 486 

M +49 (0) 162 205 4249 
 F
+49 (0) 6131 809 337 
 E bjoern.hemp@ge.com 

Coface Kreditversicherungs AG 
 Isaac-Fulda-Allee 1 

55124 Mainz 
 [date [•]]

 Assignment Agreement by [company [•]] 

[insurance policy no. [•]] 
 Dear
Madam or Sir, 
 The aforementioned company has assigned their existing and future claims in relation to sold and assigned receivables arising under or in
connection with the Trade Credit Insurance against Coface Kreditversicherungs-AG pursuant to insurance policy no. [•] 
 to us, 

GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz, Germany 
 (see enclosure).

 Kindly confirm your approval to us in writing as to the aforementioned assignment agreement. In case you approve, kindly have all payments resulting from
the claims paid to the bank account 
 Account No: 300 111 

BIN: 550 305 00 
 SWIFT: HRBKDE 51 

IBAN: DE 5503 0500 0300 11. 
 In connection with the
assignment of the claims to payment under the above-mentioned insurance policy, we are happy to confirm to you that proceeds from any security granted and other amounts paid by the insured company that were transferred to us under the Factoring
Agreement, will still be deducted in the damage calculation of the credit insurer under the terms of the Trade Credit Insurance Agreement (together with standard conditions of insurance and supplementary provisions). This also applies to the
indemnifications of the above mentioned security or any other payments provided. The credit insurer is entitled to the proceeds of collateral and other payments after the indemnification of the credit insurer up to the amount of indemnification,
whereupon a new damage settlement takes place under proportional allocation (Indemnity /Deductible). 

  
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 We will inform the credit
insurer immediately about the respective proceeds and other payments. 
 At the same time we will transfer the receivables underlying the indemnification
including the reservation of property rights, which adhere to these receivables. 
 Furthermore we ask you to file GE Capital Bank AG, Heinrich-von
Brentano-Straße 2, 55130 Mainz as a further collection agency (Inkassostelle). 
 We appreciate your effort. 

Kind regards 
 GE Capital Bank AG 

Enclosures 

  
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	Execution Version	  	26 March 2014

  
 ANLAGE
4 
 WARENKREDITVERSICHERUNGSABTRETUNGSVERTRAG 

VERTRAG 
 Hiermit treten wir, die
Firma 
 [•], 
 die uns gegen die 

[•] 
 zustehenden, gegenwärtigen und
zukünftigen Ansprüche aus der Warenkreditversicherung, 
 [Versicherungsschein-Nr. [•]] 

im Hinblick auf verkaufte und/oder abgetretene Forderungen an die 

GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz 
 ab. 

Gleichzeitig wird der Warenkreditversicherer hiermit ermächtigt, Limitentscheidungen direkt an die GE Capital Bank AG weiterzugeben. Die GE Capital Bank
AG und der Warenkreditversicherer sind berechtigt, wechselseitig notwendige Informationen auszutauschen. 
  

					
	[Ort[•], Datum[•]]	  	  

Firmenstempel/Unterschriften
	  	

 Wir nehmen die Abtretung hiermit an: 

Mainz, [Datum [•]] 
 CE Capital Bank AG 

  
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ABTRETUNGSANZEIGE FÜR KREDITVERSICHERER 

a) Euler Hermes: 
 Björn Hemp 

Neukundenbetreuer 
 GE Capital
Bank AG 
 T +49 (0) 6131 4647 486 

M +49 (0) 162 205 4249 
 F
+49 (0) 6131 809 337 
 E bjoern.hemp@ge.com 

Euler Hermes Kreditversicherungs AG 
 Niederlassung Mitte 

Hans-Joachim Schieffer 
 Große Gallusstraße 1-17 

60311 Frankfurt 
 [Datum [•]]

 Abtretungsvertrag der [Firma [•]] 

[Versicherungsschein-Nr. [•]] 
 Sehr
geehrte Damen und Herren, 
 die oben genannte Firma hat Ihre gegen die Euler Hermes Kreditversicherungs-AG zustehenden gegenwärtigen und
zukünftigen Ansprüche aus der Warenkreditversicherung gemäß Versicherungsschein Nr. [•] 
 im Hinblick auf verkaufte und
abgetretene Forderungen an uns, die 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz, Germany 
 abgetreten 

(siehe Anlage). 

  
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 Wir bitten Sie, uns Ihre
Zustimmung bezüglich der vorgenannten Abtretungserklärung schriftlich zu bestätigen. 
 Im Falle Ihrer Zustimmung bitten wir Sie, alle
Zahlungen aus den Ansprüchen auf das 
 Konto-Nr.: 300 111 

BIN: 550 305 00 
 SWIFT: HRBKDE 51 

IBAN: DE 5503 0500 0300 11. 
 bei der GE Capital Bank AG,
Mainz zu veranlassen. 
 Wir bitten Sie weiterhin, die Klausel „Versicherungsschutz für verkaufte Forderungen” – und damit die GE 

Capital Bank AG, Mainz als Mitversicherte- mit in den Vertrag aufzunehmen. Bezüglich des Forderungseinzugsbitten wir Sie, dass die GE Capital Bank AG,
Mainz neben der Euler Hermes Forderungsmanagement GmbH als zusätzlich anerkannte Inkassostelle bevollmächtigt wird. 
 Wir bedanken uns für
Ihre Bemühungen. 
 Mit freundlichen Grüßen GE Capital Bank AG 

Anlagen 
 [Datum [•]] 

  
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 b) Coface: 

Björn Hemp 

Neukundenbetreuer 
 GE Capital
Bank AG 
 T +49 (0) 6131 4647 486 

M +49 (0) 162 205 4249 
 F
+49 (0) 6131 809 337 
 E bjoern.hemp@ge.com 

Coface Kreditversicherungs AG 
 Isaac-Fulda-Allee-1 

55124 Mainz 
 [Datum [•]] 

Abtretungsvertrag der [Firma [•]] 

[Versicherungsschein-Nr. [•]] 
 Sehr
geehrte Damen und Herren, 
 die oben genannte Firma hat Ihre gegen die Euler Hermes Kreditversicherungs-AG zustehenden gegenwärtigen und
zukünftigen Ansprüche aus der Warenkreditversicherung gemäß Versicherungsschein Nr. [•] 
 im Hinblick auf verkaufte und
abgetretene Forderungen an uns, die 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2 

55130 Mainz, Germany 
 abgetreten 

(siehe Anlage). 
 Wir bitten Sie, uns Ihre Zustimmung
bezüglich der vorgenannten Abtretungserklärung schriftlich zu bestätigen. 
 Im Falle Ihrer Zustimmung bitten wir Sie, alle Zahlungen aus den
Ansprüchen auf das 
 Konto-Nr.: 300 111 
 BIN:
550 305 00 
 SWIFT: HRBKDE 51 
 IBAN: DE 5503
0500 0300 11. 
 zu veranlassen. Ihrer Zustimmung bitten wir Sie, alle Zahlungen aus den Ansprüchen auf das Konto der GE Capital Bank AG. 

  
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	Execution Version	  	26 March 2014

  
 Gerne bestätigen wir
Ihnen im Zusammenhang mit der Abtretung der Auszahlungsansprüche aus dem o.g. Versicherungsvertrag, dass Erlöse aus den durch den Versicherungsnehmer vereinbarten Sicherheiten und sonstigen Zahlungen, die an uns im Rahmen des
Factoringvertrages übertragen wurden, bei der Schadensabrechnung des Kreditversicherers entsprechend der Bestimmungen des Kreditversicherungsvertrages (nebst Allgemeinen Versicherungsbedingungen und ergänzenden Bestimmungen) weiterhin in
Abzug gebracht werden. Dies gilt auch für nach der Entschädigungsleistung aus den vorgenannten Sicherheiten oder sonstige erbrachte Zahlungen. Die Erlöse aus Sicherheiten sowie sonstige Zahlungen nach der Entschädigungsleistung
des Kreditversicherers stehen bis zur Höhe der Entschädigungsleistung dem Kreditversicherer zu, wobei eine neue Schadensabrechnung unter anteiliger Aufteilung 

(Entschädigungsleistung/Selbstbehalt) der entsprechenden Rückflüsse erfolgt. 

Wir werden dem Kreditversicherer die jeweiligen Erlöse und sonstigen Zahlungen unverzüglich mitteilen. 

Gleichzeitig werden wir im Fall einer Entschädigung die der Entschädigung zugrundeliegenden Forderungen einschließlich der für diese
haftenden Eigentumsvorbehaltsrechte übertragen. 
 Des Weiteren bitten wir Sie, die GE Capital Bank AG, Heinrich-von-Brentano-Straße 2, 55130
Mainz, als weitere Inkassostelle bei Ihnen zu hinterlegen. 
 Wir bedanken uns für Ihre Bemühungen. 

Mit freundlichen Grüßen 
 GE Capital Bank AG 

Anlagen 

  
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	Execution Version	  	26 March 2014

  
 ANNEX 5

 ACCOUNT PLEDGE AGREEMENT 

Account Pledge and Trust Agreement 

the “Agreement” 

between 
 GE Capital Bank AG

 Heinrich-von-Brentano-Straße 2, 55130 Mainz, Germany 

-hereinafter referred to as “GE CAPITAL”- 

as Trustor and Pledgee 
 and 

[•], [•] 

-hereinafter referred to as “ORIGINATOR” 

as Trustee and Pledgor 
 1. Pledged Account,
Obligation to Transfer 
 1.1 GE CAPITAL and the ORIGINATOR have entered into a Factoring Agreement under which GE CAPITAL acquires accounts
receivables from the ORIGINATOR owed by its debtors, thus GE CAPITAL is entitled to debtors’ payments. 
 1.2 The ORIGINATOR and GE CAPITAL hereby agree
that the ORIGINATOR’s following bank account shall be the Pledged Account as defined in the Factoring Agreement: 

Account-No.: [•] Account Bank: Deutsche Bank AG BLZ/IBAN: [•] 

1.3 The ORIGINATOR is obliged vis-à-vis GE CAPITAL to forward to GE CAPITAL without undue delay all incoming payments to the Pledged Account as
well as all payments otherwise received from debtors. 
 2. Pledge 

2.1 To secure any and all of GE CAPITAL’s present and future claims against the ORIGINATOR pursuant to section 1.3 and arising out of the Factoring
Agreement, in particular from clause 5 of the Factoring Agreement, 

  
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 and its performance, and
to secure any and all other present and future claims of GE CAPITAL against the ORIGINATOR arising from the business relationship, the ORIGINATOR hereby pledges any and all of its rights to payment of any and all future credits (surplus) relating to
the Pledged Account, which the ORIGINATOR is entitled to, regarding balances from current accounts (Kontokorrent) of the Pledged Account as well as the rights to the daily balance resulting from the current account agreement
related to current payouts between balancing of accounts, including the right to transfer any credits standing to the account of the Pledged Account and the right to credit the received amounts (altogether “Claims on Credit and from
Credit”) to GE CAPITAL. GE CAPITAL hereby accepts such pledge. 
 3. Collection Authority (Einziehungsermächtigung)

 3.1 The ORIGINATOR is solely entitled to claim performance in favor to GE CAPITAL. 

3.2 GE CAPITAL is solely entitled to collect all Claims on Credit and from Credit – especially even those prior to the maturity of the pledge
(Pfandreife). 
 3.3 GE CAPITAL undertakes vis-à-vis the ORIGINATOR to pay out to the ORIGINATOR any amount paid into the Pledged Accounts
which have been made towards any receivables which have verifiably not been assigned or 
 transferred to GE CAPITAL under or in connection with the
Factoring Agreement. 
 4. Trust Arrangement and waiver from the confidentiality obligation 

4.1 The ORIGINATOR and GE CAPITAL agree that the Pledged Account is held by the ORIGINATOR as a Trustee on its own behalf but only for the sole purpose
of providing security for GE CAPITAL (the “Trust Arrangement”). 
 The funds and assets paid to the Pledged Account shall be transferred to
GE CAPITAL only. The ORIGINATOR is obliged to refrain from disposing of any amounts standing to the credit of the Pledged Account and not to otherwise charge the Pledged Account. If any of the ORIGINATOR’s debtors pay to any
account other than the Pledged Account, the ORIGINATOR agrees to forward these payments to GE CAPITAL or to a Pledged Account without undue delay. 

4.2 The ORIGINATOR hereby releases the account bank vis-à-vis GE CAPITAL from any confidentiality obligations with respect to the Pledged
Account. 
 5. Notification, Receipt and Subordination / Waiver 

5.1 The ORIGINATOR agrees vis-à-vis GE CAPITAL to notify the account bank of the pledge, the Collection Authority (Einziehungsermächtigung),
the Trust Arrangement and the waiver from the confidentiality obligations (Notification). 
 5.2 Furthermore the ORIGINATOR undertakes to provide GE CAPITAL
with the account bank’s acknowledgement whereupon the account bank: 
  

	(a)	confirms the receipt of the Notification; and explains that 

  
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	Execution Version	  	26 March 2014

  
 (b) has not been provided
with any other notifications of pledges and that the account bank has no knowledge of other third party rights with respect to the Pledged Account; 

(c) subordinates any of its statutory pledges to pledges created pursuant to this Agreement – except for the following claims as set out under section 5.3
below – and unconditionally and irrevocably waives any retention and set-off rights that it may have with respect to the ORIGINATOR’s receivables due from the Pledged Account as well as to other pledged account deductions (the
“Subordination / Waiver”); 
 (d) issues bank statements to both the ORIGINATOR and GE CAPITAL in accordance with the ORIGINATOR’s order to
issue bank statements and related data / documents in paper or digital form; 
 (e) acknowledges that the ORIGINATOR is only entitled to request payments for
Claims on Credit and from Credit to GE CAPITAL and that only GE CAPITAL is entitled to collect the Claims on Credit and from Credit – also prior to the maturity of the pledge. 

5.3 The Subordination / Waiver shall not apply with respect to claims arising from and relating to: 

 

	(a)	cancellation and correction entries; 

  

	(b)	reversals of reserved bookings (e.g. check or direct debit) and unintentional payments; 

  

	(c)	fees and other account charges or fees in the context of normal business; 

 provided, however, that such claims
as set out in these sections 5.3 a – c above arise in connection with the Pledged Account and do not derive from a different relationship between the ORIGINATOR and the account bank. 

5.4 GE CAPITAL hereby declares vis-à-vis the account bank (§328 / German Civil Code) that the Trust Arrangement between GE CAPITAL and the
ORIGINATOR does not affect the account bank’s subordinated pledge and that GE CAPITAL is jointly and severally liable in addition to the ORIGINATOR for all claims, arising from the issues mentioned in 5.3. 

6 ORIGINATOR’s guarantee 
 6.1 The ORIGINATOR
represents and warrants that there are no rights of third parties related to the pledged claims and rights, except for the pledges pursuant to the account bank’s standard terms and conditions (AGB Pfandrechte). 

6.2 It’s the ORIGINATOR’s duty to promptly notify GE CAPITAL in case of third parties claiming such rights. 

7. Authorization 
 7.1 The ORIGINATOR authorizes GE
CAPITAL to notify the account bank of the pledge and to receive any declarations from the account bank. GE CAPITAL and the ORIGINATOR agree to inform each other about any declarations received from the account bank without undue delay. 

  
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 7.2 The ORIGINATOR’s
obligation as set out in section 5 above remains unaffected by this precautionary issued Authorization. 
 8. Other Regulations 

8.1 This Agreement and a security interest of GE CAPITAL, constituted after or due to this Agreement shall be valid and will not be released until all secured
debt has been paid in full under the appropriate conditions. 
 8.2 If any provisions of this agreement are or become unlawful, invalid or infeasible, the
lawfulness / validity or feasibility of the remaining provisions will not be affected thereby. 
 8.3 This Agreement shall be governed by German law. 

8.4 This Agreement shall be executed in the German and the English language; both versions, the German as well as the English language versions shall be
binding versions. The German version shall prevail in case of any discrepancy between the German and the English version. 
 [place [•]],
[date
[•]]                                       
           
 Mainz, [date
[•]]                                       
                       

GE CAPITAL BANK AG 

  
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	Execution Version	  	26 March 2014

  
 Pledge of Accounts
between [•], [•], [•] and GE Capital Bank AG, Heinrich-von-Brentano-Straße 2, 55130 
 Mainz, Germany

 Account-No: [•], BLZ/IBAN: [•] – hereinafter referred to as “Pledged Account” 

Dear [•], 
 We hereby notify you of the fact that by
agreement dated [•] we pledged any and all present and future claims to payment of any and all present and future credits (surplus), which we are entitled to, regarding balances from current accounts (Kontokorrent), as well as the rights
to the daily balance resulting from the current account agreement related to current payouts between balancing of accounts, including the right to transfer any credits standing to the account and the right to credit the received amounts (altogether
“Claims on Credit and from Credit”) to GE Capital Bank AG, Heinrich-von-Brentano-Straße 2, 55130 Mainz, Germany. 
 Notwithstanding of the
statutory scheme, GE Capital Bank AG is exclusively entitled to collect all Claims in Credit and from Credit – especially prior to the maturity of the pledge (Pfandreife). We are only entitled to demand performance to GE Capital
Bank AG. 
 Furthermore we release you vis-à-vis GE Capital Bank AG from any confidentiality obligation, especially from the banking secrecy, with
respect to the Pledged Account. We hereby instruct you to send to GE Capital Bank AG duplicates of bank statements or copies of the bank statements and, on request, the corresponding data / supporting documents in paper or digital form. We
also agree that GE Capital Bank AG receives an electronic authorization information (elektronische Auskunftsberechtigung) related to the Pledged Account. 

Kindly confirm to GE Capital Bank AG that you have not received any other notification of a pledge relating to the Pledged Account and that you do not
have any knowledge of any third parties rights relating to the Pledged Account. 
 Furthermore, kindly subordinate your pledges to the pledge granted
to GE Capital Bank AG and waive any retention and set-off rights that you may have with respect to the Pledged Account as well as any other deductions from the Pledged Account (the “Subordination / Waiver”) 

The Subordination / Waiver does not apply to claims arising from or in connection with cancellation and correction bookings, reversals of reserved bookings
(e.g. check or direct debit) and unintentional payment as well as fees and other account charges or fees in the ordinary course of business, provided that the relevant facts exclusively concerns the Pledged Account and are not due to any
other relation between you and us. 
 We keep the Pledged Account as a trustee for GE Capital Bank AG. The trust arrangement between GE Capital Bank
AG and us does not affect your subordinated pledge to be remained unaffected. The payments received to the Pledged Account only serve the purpose to be transferred to GE Capital Bank AG. 

  
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 The pledge of the account
shall terminate as soon as GE Capital Bank AG will have notified you of a respective release. 
 Furthermore we inform you that GE Capital Bank AG has
assumed the joint and several liability (§328 / German Civil Code) for your rights against us arising from or in connection with the cancellation and correction bookings, reversals of reserved bookings and unintentional payments as well
as fees and other account charges or fees in the ordinary course of business, provided that the relevant facts concern exclusively the Pledged Account and is not due to any other relation between you and us. 

We ask you to acknowledge the receipt of this notice and that you agree with the above regulations by sending the confirmation legally valid signed by you to
GE Capital Bank AG. 
 Kind regards, 

  
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	Execution Version	  	26 March 2014

  
 To 

GE Capital Bank AG 
 Heinrich-von-Brentano-Straße 2 

55130 Mainz, Germany 
 Notification of account pledge re
Account-No. [•], BLZ/IBAN [•], Account Holder: [•], [•], [•] 
 Dear Madam or Sir, 

We refer to the notice dated [•] of [name[•]] and confirm the receipt of the notification of the pledge. 

We hereby acknowledge, 
  

	a)	that we have not received any other notification of pledge and that we don’t know about any third party rights in respect to this account. 

 

	b)	that we subordinate all our pledges to the pledge created in favor of GE Capital Bank AG and unconditionally and irrevocably waive any of our retention and set-off rights that we may have with respect to the pledged
account as well as other deductions from the pledged account (Subordination / Waiver). 

 The Subordination / Waiver shall not
apply with respect to claims arising from and relating to cancellation and correction entries, reversals of reserved bookings (e.g. check or direct debit) and unintentional payments, fees and other account charges or fees in the context of normal
business, provided that such claims arise in connection with the pledged account and do not derive from a different relationship between us and the pledgor. 

We have taken notice of the fact that GE Capital Bank AG has taken over the joint and several liability (§ 328 / German Civil Code)
for our claims against the ORIGINATOR arising from and relating to cancellation and correction entries, reversals of reserved bookings and unintentional payments, fees and other account charges or fees in the context of normal business, provided
that, however, that such claims arise in connection with the pledged account and do not derive from a different relationship between us and the ORIGINATOR. 
  

	c)	to consider that the pledgor is solely entitled to claim performance in favor of GE Capital Bank AG and that GE Capital Bank AG is entitled particularly to collect the claims from credits – especially even prior to
the maturity of the pledge (Pfandreife). We will respect the Collection Authority (Einziehungsermächtigung) by GE Capital Bank AG especially prior to maturity of the pledge, even in the case of bankruptcy or any revocation of the
ORIGINATOR. 

  
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	Execution Version	  	26 March 2014

  
  

	d)	that we send duplicates of bank statements or copies of bank statements and – on request – the corresponding data / supporting documents in paper or digital form to GE Capital Bank AG and that GE Capital Bank
AG receives an electronic authorization of information for the pledged account. 

 The pledge of the account shall be terminated if GE Capital
Bank AG has shown us the release of the lien. 
 Kind regards 

Deutsche Bank AG 

  
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	Execution Version	  	26 March 2014

  
 ANLAGE
5 
 KONTOVERPFÄNDUNGSVERTRAG 

Kontenverpfändungs- und Treuhandvertrag 

zwischen 
 GE Capital Bank AG 

Heinrich-von-Brentano-Straße 2, 55130 Mainz 

– nachstehend „GE CAPITAL” genannt – 

als Treugeber und Pfandgläubiger 

und 
 [•], [•] 

– nachstehend „KUNDE” genannt – 

als Treuhänder und Verpfänder 
 1.
Verpfändetes Bankkonto; Weiterleitungspflicht 
 1.1 GE CAPITAL und der KUNDE haben einen Factoringvertrag geschlossen, aufgrund
dessen GE CAPITAL Forderungen des KUNDEN gegen seine Abnehmer erwirbt und somit die Abnehmerzahlungen GE CAPITAL zustehen. 
 1.2 Der KUNDE und GE CAPITAL
vereinbaren hierdurch, dass folgendes Bankkonto des KUNDEN Verpfändetes Bankkonto im Sinne des Factoringvertrages ist: 
 Kto.
Nr.: [•] Kreditinstitut: Deutsche Bank AG BLZ: [•] 
 1.3 Der KUNDE ist gegenüber GE CAPITAL verpflichtet, alle auf dem Verpfändeten
Bankkonto eingehenden Zahlungen sowie sonst bei ihm eingehende Abnehmerzahlungen unverzüglich an GE CAPITAL weiterzuleiten. 
 2.
Verpfändung 
 Zur Sicherung aller gegenwärtigen und zukünftigen Ansprüche von GE CAPITAL gegen den KUNDEN gemäß Ziffer
1.3 und aus dem Factoringvertrag, insbesondere gemäß Ziffer 5 des Factoringvertrages, und seiner Durchführung und zur Sicherung aller gegenwärtige und zukünftigen Ansprüche von GE CAPITAL gegen den KUNDEN
aus der Geschäftsbeziehung, verpfändet der KUNDE hierdurch seine sämtlichen gegenwärtigen und zukünftigen Ansprüche aus dem Verpfändeten Bankkonto auf Auszahlung aller gegenwärtigen und künftigen
Überschüsse (Guthaben), die dem KUNDEN bei Saldoziehung aus dem in laufender Rechnung (Kontokorrent) geführten Verpfändeten Bankkonto zustehen, 4 sowie aus dem das Verpfändete Bankkonto 

  
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betreffenden Girovertrag auf fortlaufende Auszahlung des sich zwischen den Rechnungsabschlüssen ergebenden Tagesguthabens unter Einschluss des Rechts, über diese Guthaben durch
Überweisungsaufträge zu verfügen und des Anspruchs auf Gutschrift der eingehenden Beträge (zusammen: Ansprüche auf Gutschrift und aus Guthaben) an GE CAPITAL. GE CAPITAL nimmt diese Verpfändung hierdurch an. 

3. Einziehungsvereinbarung 
 3.1 Der KUNDE ist nur
berechtigt, Leistung an GE CAPITAL zu verlangen. 
 3.2 GE CAPITAL ist –insbesondere auch vor Pfandreife- allein zur Einziehung der Ansprüche
auf Gutschrift und aus Guthaben berechtigt. 
 3.3 GE CAPITAL verpflichtet sich gegenüber dem KUNDEN alle Beträge an die KUNDEN auszuzahlen,
die in die Verpfändeten Bankkonten gezahlt wurden und die auf eine Forderung geleistet wurde, die nachweisbar nicht an GE CAPITAL in Zusammenhang mit dem Factoringvertrag abgetreten oder übertragen wurden. 

4. Treuhandvereinbarung und Befreiung von der Verschwiegenheitsverpflichtung 

4.1 Der KUNDE und GE CAPITAL sind sich darüber einig, dass das Verpfändete Bankkonto vom KUNDEN als Treuhänder in eigenem Namen aber nur
für den alleinigen Zweck der Sicherheitenbestellung für GE CAPITAL geführt wird (Treuhandvereinbarung). Die eingehenden Gelder und Guthaben auf dem Verpfändeten Bankkonto dienen nur dem Zweck ihrer Weiterleitung an GE
CAPITAL. Der KUNDE verpflichtet sich, jede andere Verfügung über Ansprüche aus Guthaben zu unterlassen und keine Belastungen des Verpfändeten Bankkontos vorzunehmen. Sollten Abnehmerzahlungen auf anderen als dem
Verpfändeten Bankkonto eingehen, verpflichtet sich der KUNDE, diese unverzüglich an GE CAPITAL oder auf ein Verpfändetes Bankkonto weiterzuleiten. 

4.2 Der KUNDE befreit hierdurch das Kreditinstitut gegenüber GE CAPITAL von allen Verschwiegenheitsverpflichtungen in Bezug auf das
Verpfändete Bankkonto. 
 5. Anzeige, Empfangsbestätigung und Rangrücktritt/Verzicht 

5.1 Der KUNDE verpflichtet sich gegenüber GE CAPITAL, dem Kreditinstitut die Verpfändung, die Einziehungsvereinbarung, die
Treuhandvereinbarung und die Befreiung von der Verschwiegenheitsverpflichtung anzuzeigen (Anzeige). 
 5.2 Der KUNDE verpflichtet sich gegenüber GE
CAPITAL des Weiteren, eine Erklärung des Kreditinstitutes beizubringen, wonach das Kreditinstitut: 
  

	(a)	den Empfang der Anzeige bestätigt und erklärt, dass 

 (b) bisher keine anderweitige
Verpfändungsanzeige erhalten hat und ihm auch sonst Rechte Dritter in Bezug auf das Verpfändete Bankkonto nicht bekannt sind, 

  
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 (c) mit allen ihm
zustehenden Pfandrechten außer in den Fällen nachstehender Ziffer 5.3 während der Verpfändung hinter die Rechte von GE CAPITAL aufgrund dieser Verpfändungsvereinbarung zurücktritt und gegen über GE CAPITAL
unbedingt und unwiderruflich auf die Geltendmachung der Rechte zur Aufrechnung mit und zur Zurückbehaltung gegenüber dem Verpfänder zustehenden Forderungen aus dem verpfändeten Konto sowie auf sonstige Absetzungen vom
verpfändeten Konto verzichtet (Rangrücktritt/Verzicht). 
 (d) die Kontoauszüge dem KUNDEN und GE CAPITAL aufgrund des seitens des KUNDEN
insoweit erteilten Auftrages, Kopien der Kontoauszüge und der dazugehörigen Daten/Belege in Papier- oder digitaler Form zu überlassen. 
 (e)
anerkennt, dass der KUNDE nur berechtigt ist, Zahlung für Ansprüche aus Gutschrift und aus Guthaben an GE CAPITAL zu verlangen und dass nur GE CAPITAL zur Einziehung von Ansprüchen aus Gutschrift und aus Guthaben –
auch für solche vor Pfandreife – berechtigt ist. 
 5.3 Der Rangrücktritt/Verzicht gilt nicht für folgende Ansprüche aus und im
Zusammenhang mit: 
 (a) Storno- und Berichtigungsbuchungen; 

(b) Rückbelastungen von Vorbehaltsbuchungen (z. B. aus Scheck oder Lastschrifteinzügen) und Fehlüberweisungen; 

(c) Gebühren und andere Kontobelastungen oder Gebühren im Rahmen des normalen Geschäftsverkehrs 

Für die Anwendung der Punkte 5.3 a – c ist jedoch Voraussetzung, dass der Sachverhalt ausschließlich das Verpfändete Bankkonto
betrifft und nicht aus einer anderen Beziehung zwischen dem KUNDEN und dem Kreditinstitut herrührt. 
 GE Capital erklärt hiermit
gegenüber dem Kreditinstitut (§ 328 BGB), dass das Treuhandverhältnis zwischen GE CAPITAL und dem KUNDEN das nachrangige Pfandrecht des Kreditinstitutes unberührt lässt und dass GE CAPITAL für
Ansprüche des Kreditinstituts, die ausschließlich aus den in 5.3 genannten Sachverhalten entstehen, neben dem KUNDEN die gesamtschuldnerische Haftung übernimmt. 

6. Garantie des KUNDEN 
 6.1 Der KUNDE garantiert, dass
keine Rechte Dritter an den verpfändeten Ansprüchen und Rechten bestehen, mit Ausnahmen solcher Pfandrechte, die gemäß standardisierter Allgemeiner Geschäftsbedingungen von Banken existieren (AGB-Pfandrechte). 

6.2 Der KUNDE verpflichtet sich, GE CAPITAL umgehend zu verständigen, wenn Dritte solche Rechte geltend machen. 

  
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 7. Vollmacht 

Der KUNDE bevollmächtigt GE CAPITAL, die Verpfändung gegenüber dem Kreditinstitut anzuzeigen und die Erklärungen des
Kreditinstitutes auch im Namen des KUNDEN entgegenzunehmen. 
 Die Verpflichtung des KUNDEN gemäß Ziffer 5 bleibt von dieser vorsorglich
erteilten Vollmacht unberührt. 
 8. Sonstige Bestimmungen 

8.1 Dieser Verpfändungsvertrag und ein nach oder infolge dieses Vertrages begründetes Sicherungsrecht von GE CAPITAL bleiben gültig und werden
nicht aufgehoben, bis jegliche besicherte Verbindlichkeit in vollem Umfang gemäß den entsprechenden Bedingungen beglichen worden ist. 
 8.2
Sollte eine der Bestimmungen dieser Vereinbarung rechtswidrig, ungültig oder undurchführbar sein oder werden, hat dies keinen Einfluss auf die Rechtmäßigkeit/Rechtsgültigkeit oder Durchsetzbarkeit der übrigen
Bestimmungen dieser Vereinbarung. 
 8.3 Diese Vereinbarung unterliegt dem Recht der Bundesrepublik Deutschland. 

8.4 Dieser Vertrag soll in deutscher und englischer Sprache vollzogen werden; beide Fassungen, sowohl die deutsche als auch die englische Fassung sind bindend.
Im Falle einer Diskrepanz zwischen der deutschen und der englischen Fassung, ist die deutsche Fassung vorrangig. 
 [•], [den [•] 

[•] 
 Mainz, den [•] 

GE Capital Bank AG 

  
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 Kontenverpfändung
zwischen [•], [•], [•] und GE Capital Bank AG, Heinrich-von-Brentano-Straße 2, 55130 
 Mainz 

Kontonummer: [•], BLZ: [•]–nachstehend VERPFÄNDETES BANKKONTO genannt 

Sehr geehrter/ geehrte [•], 
 hiermit zeigen wir Ihnen an,
dass wir unsere sämtlichen gegenwärtigen und zukünftigen Ansprüche auf Auszahlung aller gegenwärtigen und künftigen Überschüsse (Guthaben), die uns bei Saldoziehung aus dem in laufender Rechnung (Kontokorrent)
geführten o. g. Konto zustehen, sowie auch die Ansprüche aus dem Girovertrag auf fortlaufende Auszahlung des sich zwischen den Rechnungsabschlüssen ergebenden Tagesguthabens unter Einschluss des Rechts, über diese Guthaben durch
Überweisungsaufträge zu verfügen und des Anspruchs auf Gutschrift der eingehenden Beträge (zusammen: Ansprüche auf Gutschrift und aus Guthaben) mit Vereinbarung vom [•] (Datum ergänzen) an die GE Capital Bank AG,
Heinrich-von-Brentano- Straße 2, 55130 Mainz, (nachfolgend „GE Capital” genannt) verpfändet haben. 
 Abweichend von der gesetzlichen
Regelung ist GE Capital jederzeit –insbesondere auch vor Pfandreife- alleine zur Einziehung aller Ansprüche auf Gutschrift und aus Guthaben berechtigt. Wir können nur Leistung an GE Capital verlangen. 

Ferner entbinden wir Sie gegenüber GE Capital im Hinblick auf das VERPFÄNDETE BANKKONTO von allen Verschwiegenheitsverpflichtungen, insbesondere vom
Bankgeheimnis. Wir beauftragen Sie hiermit, GE Capital Duplikatskontoauszüge bzw. Kopien der Kontoauszüge zuzusenden und auf Anforderung auch die dazugehörigen Daten/Buchungsbelege in Papier- oder digitaler Form zu übersenden.
Des Weiteren sind wir damit einverstanden, dass GE Capital eine elektronische Auskunftsberechtigung über das VERPFÄNDETEBANKKONTO erhält. 

Wir bitten Sie, gegenüber GE Capital zu bestätigen, dass Sie bisher keine anderweitige Verpfändungsanzeige erhalten haben und Ihnen auch sonst
Rechte Dritter in Bezug auf das VERPFÄNDETE BANKKONTO nicht bekannt sind. 
 Des Weiteren bitten wir Sie, mit allen Ihnen zustehenden Pfandrechten
hinter das zu Gunsten von GE Capital bestellte Pfandrecht zurückzutreten und gegenüber GE Capital auf die Geltendmachung der Rechte zur Aufrechnung mit und zur Zurückbehaltung gegenüber uns zustehenden Forderungen aus dem
VERPFÄNDETEN BANKKONTO sowie auf sonstige Absetzungen vom verpfändeten Konto zu verzichten (Rangrücktritt/Verzicht). 
 Der
Rangrücktritt/Verzicht gilt nicht für Ansprüche aus und im Zusammenhang mit Storno-und Berichtigungsbuchungen, Rückbelastungen von Vorbehaltsbuchungen (z. B. aus Scheck oder Lastschrifteinzügen) und Fehlüberweisungen
sowie Gebühren und anderen Kontobelastungen oder Gebühren im Rahmen des normalen Geschäftsverkehrs, unter der Voraussetzung, dass der diesbezügliche Sachverhalt ausschließlich das VERPFÄNDETE 

BANKKONTO betrifft und nicht aus einer anderen Beziehung zwischen Ihnen und uns herrührt. 

  
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 Wir führen das
VERPFÄNDETE BANKKONTO als Treuhänder für GE Capital. Das Treuhandverhältnis zwischen GE Capital und uns lässt Ihr nachrangiges Pfandrecht unberührt. Die auf dem VERPFÄNDETEN BANKKONTO eingehenden Zahlungen dienen
nur dem Zweck ihrer Weiterleitung an GE Capital. 
 Die Kontoverpfändung erlischt, sobald Ihnen GE Capital die Freigabe des Pfandrechts angezeigt hat.

 Weiterhin dürfen wir Sie darüber informieren, das GE Capital die gesamtschuldnerische Haftung (§ 328 BGB) für Ihre Ansprüche
gegen uns aus und im Zusammenhang mit Storno-und Berichtigungsbuchungen, Rückbelastungen von Vorbehaltsbuchungen und Fehlüberweisungen sowie Gebühren und andere Kontobelastungen oder Gebühren im Rahmen des normalen
Geschäftsverkehrs übernommen hat, jedoch unter der Voraussetzung, dass der Sachverhalt ausschließlich das VERPFÄNDETE BANKKONTO betrifft und nicht aus einer anderen Beziehung zwischen uns und Ihnen herrührt. 

Wir bitten Sie, den Eingang dieser Verpfändungsanzeige und Ihr Einverständnis mit den vorstehenden Regelungen durch Übersendung des von Ihnen
rechtsgültig unterzeichneten Bestätigungsschreibens gegenüber GE Capital zu erklären. 
 Mit freundlichen Grüßen 

[•] 

  
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 An 

GE Capital Bank AG 
 Heinrich-von-Brentano-Straße 2 

55130 Mainz 
 Kontenverpfändungsanzeige zu Konto Nr.
[•], BLZ [•], Kontoinhaber: [•], [•], [•] Sehr geehrte Damen und Herren, wir beziehen uns auf das Schreiben vom [•] unseres Kunden [•], [•], [•] und bestätigen Ihnen hiermit, den Empfang der
Verpfändungsanzeige. 
 Wir erklären hiermit, 
  

	a)	dass wir bisher keine anderweitige Verpfändungsanzeige erhalten haben und uns auch sonstige Rechte Dritter in Bezug auf dieses Konto nicht bekannt sind. 

 

	b)	dass wir mit allen uns zustehenden Pfandrechten hinter das zu Gunsten GE Capital bestellte Pfandrecht zurücktreten und gegenüber GE Capital unbedingt und unwiderruflich auf die Geltendmachung unserer Rechte
zur Aufrechnung mit und zur Zurückbehaltung gegenüber dem Verpfänder zustehenden Forderungen aus dem verpfändeten Konto sowie auf sonstige Absetzungen vom verpfändeten Konto verzichten (Rangrücktritt/Verzicht).

 Der Rangrücktritt/Verzicht gilt nicht für Ansprüche aus und im Zusammenhang mit Storno- und
Berichtigungsbuchungen, Rückbelastungen von Vorbehaltsbuchungen (z. B. aus Scheck oder Lastschrifteinzügen) und Fehlüberweisungen sowie Gebühren und anderen Kontobelastungen oder Gebühren im Rahmen des normalen
Geschäftsverkehrs, vorausgesetzt, dass der diesbezügliche Sachverhalt ausschließlich das verpfändete Bankkonto betrifft und nicht aus einer anderen Beziehung zwischen uns und dem Verpfänder herrührt.) 

Wir haben zur Kenntnis genommen, das GE Capital die gesamtschuldnerische Haftung (§ 328 BGB) für unsere Ansprüche gegen den
Kunden aus und im Zusammenhang mit Storno- und Berichtigungsbuchungen, Rückbelastungen von Vorbehaltsbuchungen und Fehlüberweisungen sowie Gebühren und anderen Kontobelastungen oder Gebühren im Rahmen des normalen
Geschäftsverkehrs übernommen hat, jedoch unter der Voraussetzung, dass der Sachverhalt ausschließlich das VERPFÄNDETE BANKKONTO betrifft und nicht aus einer anderen Beziehung zwischen uns und dem Kunden herrührt. 

 

	c)	zu beachten, dass der Verpfänder nur berechtigt ist, Leistung an GE CAPITAL zu verlangen und GE CAPITAL -insbesondere auch vor Pfandreife-allein zur Einziehung der Ansprüche aus Guthaben berechtigt ist. Wir
werden die Einziehungsermächtigung durch GE Capital insbesondere vor Pfandreife auch im Fall einer Insolvenz oder eines Widerrufs des Kunden beachten. 

  

	d)	dass wir GE Capital Duplikatskontoauszüge bzw. Kopien der Kontoauszüge und auf Anforderung auch die dazugehörigen Daten/Buchungsbelege in Papier- oder digitaler Form übersenden und dass GECapital
eine elektronische Auskunftsberechtigung über das verpfändete Konto erhält. 

  
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 Die Kontoverpfändung
erlischt, sobald uns GE Capital die Freigabe des Pfandrechts angezeigt hat. 
 Mit freundlichen Grüßen 

Deutsche Bank AG 

  
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