Document:

Exhibit

EXECUTION VERSION

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LOAN MODIFICATION AGREEMENT AND AMENDMENT NO. 9 dated as of February 25, 2015 (this “Agreement”), related to the Third Amended and Restated Credit Agreement dated as of September 28, 2012 (as amended, supplemented or modified prior to the date hereof, the “Credit Agreement”; and as amended by this Agreement, the “Amended Credit Agreement”), by and among Reynolds Group Holdings Inc. (“RGHI”), Pactiv LLC, Reynolds Consumer Products Holdings LLC, Closure Systems International Holdings LLC, SIG Euro Holding AG & Co. KGaA, Closure Systems International B.V., Evergreen Packaging Inc., Reynolds Consumer Products LLC, Beverage Packaging Holdings (Luxembourg) III S.à r.l. (“BP III”), Reynolds Group Holdings Limited (“Holdings”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto and Credit Suisse AG, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
A.Pursuant to the purchase agreement dated November 23, 2014 (as amended, supplemented or otherwise modified from time to time, the “SIG Purchase Agreement”), among Holdings, RGHI, BP III (collectively, the “SIG Sellers”), Onex Wizard US Acquisition Company GmbH, Onex Wizard US Acquisition II Inc. and Onex Wizard Acquisition Company I S.à r.l. (collectively, the “SIG Purchasers”), the SIG Sellers intend to sell to the SIG Purchasers the Equity Interests and other assets described in the SIG Purchase Agreement and constituting the SIG Combibloc business for aggregate consideration of €3.75 billion (with €3.575 billion payable at closing, subject to certain adjustments based upon closing date cash, indebtedness, working capital and current tax assets and liabilities, and with an additional amount up to €175 million payable depending upon the financial performance of the SIG Combibloc business in 2015 and 2016 (such additional amount, together with any post-closing purchase price adjustments or other post-closing contingent payments received by the SIG Sellers pursuant to the SIG Purchase Agreement and other Net Cash Proceeds deemed received with respect to the SIG Sale (as defined below) after the closing thereof, the “Contingent SIG Proceeds”)).  The sale of the SIG Combibloc business to the SIG Purchasers pursuant to the SIG Purchase Agreement or, in the event the SIG Purchase Agreement shall terminate or the transactions contemplated thereby otherwise not be consummated, any other sale by one or more SIG Sellers of all or any portion of the SIG Combibloc business to one or more purchasers (whether related or not) in one or more transactions, is referred to herein as the “SIG Sale”.
B.    On July 28, 2014, Holdings publicly announced that it was undertaking a strategic review of its ownership of its Evergreen and Closures businesses, which could result in a decision to sell to one or more purchasers (whether related or not), or otherwise dispose of, all or any portion of one or both of such businesses in one or more transactions (each of the SIG Sale and the potential sale or other disposition of the Evergreen and/or Closures businesses being referred to as a “Disclosed Asset Sale”).
C.    Pursuant to Section 9.24 of the Credit Agreement, Holdings made a Loan Modification Offer to each U.S. Term Lender and each European Term Lender to make certain Permitted Amendments as set forth herein. 
D.    Holdings has also requested that the Credit Agreement be amended to, among other things, provide that the Borrowers shall not be required to use the net cash proceeds of the Disclosed Asset Sales to prepay the Term Loans of Accepting Term Lenders (as defined below) (or, if the Accepting Term Lenders, together with the Revolving Credit Lenders party hereto constitute the Required Lenders, the Term Loans of all Term Lenders) in certain circumstances, so long as such net cash proceeds are used (i) if the consent of the Required Lenders is not so obtained, to prepay the Term Loans of Declining Term Lenders (as defined below) and (ii) to redeem, repurchase or otherwise retire Senior Secured Notes, Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes.
E.    The U.S. Term Lenders party hereto (the “Accepting U.S. Term Lenders”; each U.S. Term Lender that is not an Accepting U.S. Term Lender, a “Declining U.S. Term Lender”) are willing to agree to such amendments with respect to their U.S. Term Loans, and the European Term Lenders party hereto (the “Accepting European Term Lenders” and, together with the Accepting U.S. Term Lenders, the “Accepting Term Lenders”; each European Term Lender that is not an Accepting European Term Lender, a “Declining European Term Lender” and, together with the Declining U.S. Term Lenders, the “Declining Term Lenders”) are willing to agree to such amendments with respect to their European Term Loans, and the Lenders party to this Agreement are willing so to amend the Credit Agreement, in each case on the terms and subject to the conditions set forth herein.
F.    Credit Suisse Securities (USA) LLC will act as sole lead arranger and sole bookrunner for this Agreement and the transactions contemplated hereby.
G.    Capitalized terms used but not defined herein shall have the meanings assigned to them in the Credit Agreement.
Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1.    Defined Terms; Interpretation; Etc.  The rules of construction set forth in Section 1.02 of the Credit Agreement shall apply mutatis mutandis to this Agreement.  This Agreement shall be a “Loan Document” for all purposes of the Amended Credit Agreement and the other Loan Documents.  
SECTION 2.    U.S. Term Loans and European Term Loans.  (a)  Subject to the terms and conditions set forth herein and in the Amended Credit Agreement, effective as of the Effective Date (as defined below), (i) each Accepting U.S. Term Lender shall be a Tranche B-1 U.S. Term Lender under and as defined in the Amended Credit Agreement, and its U.S. Term Loans shall be converted into Tranche B-1 U.S. Term Loans thereunder, and (ii) each Accepting European Term Lender shall be a Tranche B-1 European Term Lender under and as defined in the Amended Credit Agreement, and its European Term Loans shall be converted into Tranche B-1 European Term Loans thereunder. 
(b)    Effective as of the Effective Date, (i) each Declining U.S. Term Lender shall be redesignated as a “Tranche B-2 U.S. Term Lender” under and as defined in the Amended Credit Agreement, and its U.S. Term Loans shall be redesignated as “Tranche B-2 U.S. Term Loans” thereunder, and (ii) each Declining European Term Lender shall be redesignated as a “Tranche B-2 European Term Lender” under and as defined in the Amended Credit Agreement, and its European Term Loans shall be redesignated as “Tranche B-2 European Term Loans” thereunder. 
SECTION 3A.  Permitted Amendments.   Effective as of the Effective Date, the Credit Agreement is hereby amended as follows: 
(a)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms in the appropriate alphabetical order therein:
“Amendment No. 9” shall mean Loan Modification Agreement and Amendment No. 9 dated as of February 25, 2015, to the Credit Agreement. 
“Amendment No. 9 CP Date” shall have the meaning assigned to the term “CP Date” in Amendment No. 9. 
“Amendment No. 9 Effective Date” shall have the meaning assigned to the term “Effective Date” in Amendment No. 9. 
(b)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following additional defined terms in the appropriate alphabetical order therein:
“Tranche B-1 European Term Lender” shall mean a Lender with a Tranche B-1 European Term Loan.
“Tranche B-1 European Term Loans” shall mean the “Incremental European Term Loans” made pursuant to (and as defined in) Amendment No. 8 that were designated as “Tranche B-1 European Term Loans” pursuant to Amendment No. 9.
“Tranche B-1 U.S. Term Lender” shall mean a Lender with a Tranche B-1 U.S. Term Loan.
“Tranche B-1 U.S. Term Loans” shall mean the “Incremental Term Loans” made pursuant to (and as defined in) Amendment No. 8 that were designated as “Tranche B-1 U.S. Term Loans” pursuant to Amendment No. 9.
“Tranche B-2 European Term Lender” shall mean a Lender with a Tranche B-2 European Term Loan.
“Tranche B-2 European Term Loans” shall mean the “Incremental European Term Loans” made pursuant to (and as defined in) Amendment No. 8 that were designated as “Tranche B-2 European Term Loans” pursuant to Amendment No. 9.
“Tranche B-2 Term Loans” shall mean the Tranche B-2 U.S. Term Loans and the Tranche B-2 European Term Loans.
“Tranche B-2 U.S. Term Lender” shall mean a Lender with a Tranche B-2 U.S. Term Loan.
“Tranche B-2 U.S. Term Loans” shall mean the “Incremental Term Loans” made pursuant to (and as defined in) Amendment No. 8 that were designated as “Tranche B-2 U.S. Term Loans” pursuant to Amendment No. 9.
(c)    The definition of the term “Applicable Margin” set forth in Section 1.01 of the Credit Agreement is hereby amended by amending and restating the first paragraph in its entirety as follows:
“Applicable Margin” shall mean, for any day, (a) with respect to any Eurocurrency Tranche B-1 U.S. Term Loan, 3.50% per annum, (b) with respect to any Daily Rate Tranche B-1 U.S. Term Loan, 2.50% per annum, (c) with respect to any Eurocurrency Tranche B-2 U.S. Term Loan, 3.00% per annum, (d) with respect to any Daily Rate Tranche B-2 U.S. Term Loan, 2.00% per annum, (e) with respect to any Eurocurrency Tranche B-1 European Term Loan, 3.50% per annum, (f) with respect to any Daily Rate Tranche B-1 European Term Loan, 2.50% per annum, (g) with respect to any Eurocurrency Tranche B-2 European Term Loan, 3.25% per annum, (h) with respect to any Daily Rate Tranche B-2 European Term Loan, 2.25% per annum, (i) with respect to any Eurocurrency Revolving Loan, the applicable percentage set forth below under the caption “Eurocurrency Spread – Revolving Loans” and (j) with respect to any Daily Rate Revolving Loan, the applicable percentage set forth below under the caption “Daily Rate Spread – Revolving Loans”.
(d)    The definition of the term “Class” set forth in Section 1.01 of the Credit Agreement is hereby amended by replacing the words “U.S. Term Loans, European Term Loans” therein with the words “Tranche B-1 U.S. Term Loans, Tranche B-2 U.S. Term Loans, Tranche B-1 European Term Loans, Tranche B-2 European Term Loans”.
(e)    The definition of the term “European Term Lender” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“European Term Lender” shall mean a Tranche B-1 European Term Lender or a Tranche B-2 European Term Lender, or both, as the context may require.
(f)    The definition of the term “European Term Loans” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“European Term Loans” shall mean the Tranche B-1 European Term Loans and the Tranche B-2 European Term Loans.
(g)    The definition of the term “U.S. Term Lender” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“U.S. Term Lender” shall mean a Tranche B-1 U.S. Term Lender or a Tranche B-2 U.S. Term Lender, or both, as the context may require.
(h)    The definition of the term “U.S. Term Loans” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“U.S. Term Loans” shall mean the Tranche B-1 U.S. Term Loans and the Tranche B-2 U.S. Term Loans.
(i)    Section 2.03 of the Credit Agreement is hereby amended by replacing the words “U.S. Term Loans, European Term Loans” in clause (i) of the second sentence thereof with the words “Tranche B-1 U.S. Term Loans, Tranche B-2 U.S. Term Loans, Tranche B-1 European Term Loans, Tranche B-2 European Term Loans”.
(j)    Section 2.04(a) of the Credit Agreement is hereby amended by replacing the words “each European Term Loan” in the third sentence thereof with the words “the applicable Class of European Term Loans”.
(a)    Section 2.07 of the Credit Agreement is hereby amended by inserting the words “Tranche B-1” immediately before the words “U.S. Term Loan” therein.
(b)    Paragraphs (i) and (ii) of Section 2.11(a) of the Credit Agreement are hereby amended and restated in their entirety as follows:
“(i)    The U.S. Term Borrowers shall pay to the Administrative Agent, on the last Business Day of each calendar quarter ending after the Amendment No. 9 Effective Date, (x) for the account of the Tranche B-1 U.S. Term Lenders, a principal amount of the Tranche B-1 U.S. Term Loans (as adjusted from time to time pursuant to Sections 2.12, 2.13(f) and 2.23(d)) equal to (A) a fraction, the numerator of which is the aggregate principal amount of Tranche B-1 U.S. Term Loans outstanding on the Amendment No. 9 Effective Date and the denominator of which is the aggregate principal amount of U.S. Term Loans outstanding on the Amendment No. 9 Effective Date, multiplied by (B) an amount equal to 0.25% of the aggregate principal amount of the U.S. Term Loans outstanding on the Amendment No. 8 Effective Date (as adjusted prior to the Amendment No. 9 Effective Date pursuant to Sections 2.12 and 2.13(f)) and (y) for the account of the Tranche B-2 U.S. Term Lenders, a principal amount of the Tranche B-2 U.S. Term Loans (as adjusted from time to time pursuant to Sections 2.12, 2.13(f) and 2.23(d)) equal to (A) a fraction, the numerator of which is the aggregate principal amount of Tranche B-2 U.S. Term Loans outstanding on the Amendment No. 9 Effective Date and the denominator of which is the aggregate principal amount of U.S. Term Loans outstanding on the Amendment No. 9 Effective Date, multiplied by (B) an amount equal to 0.25% of the aggregate principal amount of the U.S. Term Loans outstanding on the Amendment No. 8 Effective Date (as adjusted prior to the Amendment No. 9 Effective Date pursuant to Sections 2.12 and 2.13(f)).
(ii)    The European Term Borrowers shall pay to the Administrative Agent, on the last Business Day of each calendar quarter ending after the Amendment No. 9 Effective Date, (x) for the account of the Tranche B-1 European Term Lenders, a principal amount of the Tranche B-1 European Term Loans (as adjusted from time to time pursuant to Sections 2.12, 2.13(f) and 2.23(d)) equal to (A) a fraction, the numerator of which is the aggregate principal amount of Tranche B-1 European Term Loans outstanding on the Amendment No. 9 Effective Date and the denominator of which is the aggregate principal amount of European Term Loans outstanding on the Amendment No. 9 Effective Date, multiplied by (B) an amount equal to 0.25% of the aggregate principal amount of the European Term Loans outstanding on the Amendment No. 8 Effective Date (as adjusted prior to the Amendment No. 9 Effective Date pursuant to Sections 2.12 and 2.13(f)) and (y) for the account of the Tranche B-2 European Term Lenders, a principal amount of the Tranche B-2 European Term Loans (as adjusted from time to time pursuant to Sections 2.12, 2.13(f) and 2.23(d)) equal to (A) a fraction, the numerator of which is the aggregate principal amount of Tranche B-2 European Term Loans outstanding on the Amendment No. 9 Effective Date and the denominator of which is the aggregate principal amount of European Term Loans outstanding on the Amendment No. 9 Effective Date, multiplied by (B) an amount equal to 0.25% of the aggregate principal amount of the European Term Loans outstanding on the Amendment No. 8 Effective Date (as adjusted prior to the Amendment No. 9 Effective Date pursuant to Sections 2.12 and 2.13(f)).”
(c)    Section 2.12(e) of the Credit Agreement is hereby amended and restated in its entirety as follows:
“(e)  If, prior to the date that is six months after the Amendment No. 9 Effective Date, (i) all or any portion of the Tranche B-1 European Term Loans or the Tranche B-1 U.S. Term Loans are prepaid out of the proceeds of a substantially concurrent issuance or incurrence of secured term loans that are marketed or syndicated to banks and other institutional investors and the effective yield (as determined by the Administrative Agent in consultation with Holdings and in a manner consistent with generally accepted financial practice and, in any event, excluding the effect of any arrangement, structuring, syndication, commitment or other fees in connection therewith that are not shared with all providers of such financing, and without taking into account any fluctuations in the Adjusted LIBO Rate, the EONIA Rate or the EURIBO Rate) of such secured term loan financing is less than the yield (as determined by the Administrative Agent on the same basis) of the Tranche B-1 European Term Loans or the Tranche B-1 U.S. Term Loans, as the case may be, or (ii) a Tranche B-1 European Term Lender or a Tranche B-1 U.S. Term Lender must assign its Tranche B-1 European Term Loans or Tranche B-1 U.S. Term Loans, as the case may be, pursuant to Section 2.21, in each case as a result of its failure to consent to an amendment that would reduce (as determined by the Administrative Agent in consultation with Holdings) any of the interest rate margins (or other pricing-related terms) then in effect with respect to such Tranche B-1 European Term Loans or Tranche B-1 U.S. Term Loans, as the case may be, then in each case the aggregate principal amount so prepaid or assigned will be subject to a fee payable by the European Term Borrowers, in the case of Tranche B-1 European Term Loans, or the U.S. Term Borrowers, in the case of Tranche B-1 U.S. Term Loans, in each case equal to 1.0% of the principal amount thereof; provided that this Section 2.12(e) shall not apply to any prepayment of the Tranche B-1 Term Loans upon the occurrence of a Change in Control.”
(d)    Section 2.23(a) of the Credit Agreement is hereby amended by inserting the words “of any Class” immediately following the words “European Term Loans” in clause (v) thereof.
SECTION 3B.  Additional Amendments.   Effective as of the Effective Date, immediately after the effectiveness of the amendments set forth in Section 3A above, the Credit Agreement is hereby amended as follows: 
(a)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms in the appropriate alphabetical order therein:
“Contingent SIG Proceeds” shall have the meaning assigned to such term in Amendment No. 9.
“Disclosed Asset Sale” shall have the meaning assigned to such term in Amendment No. 9.
“Excepted Asset Sale” shall mean any Disclosed Asset Sale for which a definitive agreement shall have been executed and delivered by the parties thereto prior to March 31, 2016.
“Excepted Asset Sale Net Cash Proceeds” shall mean, with respect to any Excepted Asset Sale, the Net Cash Proceeds thereof.  
(b)    Section 2.13(b) of the Credit Agreement is hereby amended by adding the following at the end thereof:
“Notwithstanding the foregoing, Net Cash Proceeds constituting Excepted Asset Sale Net Cash Proceeds shall not be required to be used to prepay Tranche B-1 U.S. Term Loans and Tranche B-1 European Term Loans to the extent an amount equal to such Excepted Asset Sale Net Cash Proceeds (for the purpose of calculating such amount, the term “Net Cash Proceeds” shall have the meaning set forth in Section 4(d) of Amendment No. 9; except that for purposes of determining the Net Cash Proceeds (other than any Contingent SIG Proceeds) of the SIG Sale (as defined in Amendment No. 9), the first proviso following clause (a)(iv) of the definition thereof shall be disregarded) is used (x) if at the time of receipt (or, if applicable, in the case of Net Cash Proceeds with respect to which Holdings has delivered a notice to the Administrative Agent electing Reinvestment, deemed receipt) thereof the Tranche B-2 Term Loans have not been repaid in full, within four Business Days of receipt (or deemed receipt) thereof to prepay the Tranche B-2 Term Loans in accordance with this Section 2.13(b), together with all accrued and unpaid interest thereon and fees and expenses related thereto, and (y) within 120 days after the receipt (or deemed receipt) thereof, to redeem, repurchase or otherwise retire (including by depositing such Excepted Asset Sale Net Cash Proceeds in a defeasance or similar trust or arrangement for the benefit of Indebtedness that has been called for redemption or otherwise defeased, satisfied or discharged) Senior Secured Notes, Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes, and to pay premiums and accrued and unpaid interest thereon and fees and expenses related thereto, it being understood that if the aggregate principal amount of Senior Secured Notes so redeemed, repurchased or otherwise retired (or otherwise defeased, satisfied or discharged)  at the end of such 120-day period (the “Senior Secured Notes Repurchased Amount”) is less than the Target Senior Secured Debt Repayment Amount (as defined below), the Borrower shall within 4 Business Days following the end of such 120-day period prepay outstanding Term Loans in accordance with Section 2.13(f) in an amount equal to the difference between the Target Senior Secured Debt Repayment Amount and the Senior Secured Notes Repurchased Amount.  The “Target Senior Secured Debt Repayment Amount” shall be the aggregate principal amount of Senior Secured Notes that needs to be repurchased in order for the Senior Secured First Lien Leverage Ratio, calculated by Holdings as of the date of receipt (or deemed receipt) of such Excepted Asset Sale Net Cash Proceeds after giving pro forma effect to the Excepted Asset Sale, the application of the Excepted Asset Sale Net Cash Proceeds to prepay the Tranche B-2 Term Loans (if applicable), to repurchase such Senior Secured Notes and otherwise to repurchase Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes, as contemplated in the previous sentence, and to any other event as to which pro forma recalculation is appropriate, not to exceed 3.50 to 1.00.  The pro forma calculations supporting the calculation of the Target Senior Secured Debt Repayment Amount may include estimates with respect to the various components of the pro forma calculation.  The calculation of the Target Senior Secured Debt Repayment Amount shall be certified by a Financial Officer of Holdings as having been prepared in good faith and shall be conclusive absent manifest error.”
SECTION 3C.  European Revolver Amendments.   Effective as of the Effective Date, immediately after the effectiveness of the amendments set forth in Section 3A above, the Credit Agreement is hereby amended as follows: 
(a)    The introductory statement to the Credit Agreement is hereby amended by inserting the words “and the U.S. Revolving Borrowers (as defined in Article I)” immediately following the words “together with the European Term Borrowers” therein.
(b)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms in the appropriate alphabetical order therein:
“Calculation Date” shall mean (a) the date of delivery of each Borrowing Request for European Revolving Loans, (b) the date on which any European Revolving Loan is made, converted or continued, (c) the date of issuance, extension or renewal of any European Letter of Credit, (d) the last Business Day of each quarter and (e) such additional dates on which the Exchange Rate is calculated as the Administrative Agent shall specify.
“Euro Equivalent” shall mean, on any date of determination, with respect to any amount denominated in a currency other than Euro, the equivalent in Euro of such amount, determined by the Agent using the Exchange Rate at the time in effect.
“Facility Fees” shall have the meaning assigned to such term in Section 2.05(a).
(c)    The definition of the term “Applicable Margin” set forth in Section 1.01 of the Credit Agreement is hereby further amended by (i) deleting clauses (i) and (j) thereof and adding the following in their place:  “(i) with respect to any Eurocurrency U.S. Revolving Loan, the applicable percentage set forth below under the caption “Eurocurrency Spread – U.S. Revolving Loans”, (j) with respect to any Eurocurrency European Revolving Loan, the applicable percentage set forth below under the caption “Eurocurrency Spread – European Revolving Loans”, (k) with respect to any Daily Rate U.S. Revolving Loan, the applicable percentage set forth below under the caption “Daily Rate Spread – U.S. Revolving Loans” and (l) with respect to any Daily Rate European Revolving Loan, the applicable percentage set forth below under the caption “Daily Rate Spread – European Revolving Loans” and (ii) amending and restating the table therein in its entirety as follows:
	
					
	Total Leverage Ratio
	Eurocurrency Spread – U.S.  Revolving Loans
	Daily Rate Spread – U.S. Revolving Loans
	Eurocurrency Spread – European Revolving Loans
	Daily Rate Spread – European Revolving Loans

	Category 1
≥ 5.50 to 1.00
	3.75%
	2.75%
	2.75%
	1.75%

	Category 2
< 5.50 to 1.00
	3.50%
	2.50%
	2.50%
	1.50%

(d)    The definition of the term “Business Day” set forth in Section 1.01 of the Credit Agreement is hereby amended by inserting the words “or any Calculation Date” immediately following the words “denominated in Euro” in clause (b) thereof.
(e)    The definition of the term “European L/C Exposure” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“European L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount of all outstanding European Letters of Credit at such time denominated in Euro, plus the Euro Equivalent of the aggregate undrawn amount of all outstanding European Letters of Credit at such time denominated in Dollars and (b) the aggregate principal amount of all European L/C Disbursements denominated in Euro, plus the Euro Equivalent of the aggregate principal amount of all European L/C Disbursements denominated in Dollars, in each case that have not yet been reimbursed by or on behalf of the European Borrowers at such time.  The European L/C Exposure of any European Revolving Credit Lender at any time shall equal its Pro Rata Percentage of the aggregate European L/C Exposure at such time.
(f)    The definition of the term “European Revolving Credit Exposure” set forth in Section 1.01 of the Credit Agreement is hereby amended by inserting the words “denominated in Euro, plus the Euro Equivalent of the aggregate principal amount at such time of all outstanding European Revolving Loans of such Lender denominated in Dollars” immediately following the words “of such Lender” therein.
(g)    The definition of the term “Fees” set forth in Section 1.01 of the Credit Agreement is hereby amended by inserting the words “the Facility Fees,” immediately before the words “the Administrative Agent Fees” therein.
(h)    Section 1.05 of the Credit Agreement is hereby amended by inserting the following new sentence immediately before the first sentence thereof:
“On each Calculation Date, the Administrative Agent shall (a) determine the Exchange Rate as of such Calculation Date and (b) give notice thereof to the Borrower and to any Lender that shall have requested a copy of such notice.  The Exchange Rate so determined shall become effective on such Calculation Date and shall remain effective until the next succeeding Calculation Date, and shall for all purposes relating to the European Revolving Credit Commitments and the extension of credit thereunder (other than as set forth below or in any other provision expressly requiring the use of a current Exchange Rate) be the Exchange Rate employed in converting amounts between Dollars and Euro.”
(i)    Section 2.01(a) of the Credit Agreement is hereby amended by inserting the words “or Dollars” immediately following the words “in a Designated Foreign Currency” in clause (ii) thereof.
(j)    Section 2.05(a) of the Credit Agreement is hereby amended by (i) inserting the words “(the “Commitment Fees”)” immediately following the words “a commitment fee” in the first sentence thereof and (ii) amending and restating the second, third and fourth sentences thereof in their entirety as follows:
“Each European Borrower, jointly and severally, agrees to pay to each European Revolving Credit Lender, through the Administrative Agent, on the last Business Day of March, June, September and December in each year and on each date on which any Commitment of such Lender shall expire or be terminated as provided herein, a facility fee (the “Facility Fees”) in Euro equal to 1.00% per annum on the daily amount of the European Revolving Credit Commitment (whether used or unused) of such Lender during the preceding quarter (or other period commencing with the Amendment No. 9 Effective Date or ending with the Revolving Credit Maturity Date or the date on which the Commitments of such Lender shall expire or be terminated); provided that (i) if any European Revolving Credit Exposure remains outstanding following any such expiration or termination of the European Revolving Credit Commitments, the Facility Fees with respect to such European Revolving Credit Exposure shall continue to accrue for so long as such European Revolving Credit Exposure remains outstanding and shall be payable on demand and (ii) if any European Revolving Credit Lender shall become a Defaulting Lender, the portion of such facility fee attributable to the unused amount of the European Revolving Credit Commitment of such Defaulting Lender shall cease to accrue and shall not be payable hereunder.  All Commitment Fees and Facility Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days.”
(k)    Section 2.09(c) of the Credit Agreement is hereby amended by inserting the words “or the Facility Fees, as applicable,” immediately following the words “the Commitment Fees” in the second sentence thereof.
(l)    Section 2.17 of the Credit Agreement is hereby amended by inserting the words “and the Facility Fees” immediately following the words “the Commitment Fees” therein.
(m)    Section 2.22(a) of the Credit Agreement is hereby amended by inserting the words “or Dollars” immediately before the period at the end of the second sentence thereof.
SECTION 1.    Required Lender Amendments.  Subject to the satisfaction of the condition set forth in Section 5(b) hereof, the Credit Agreement is hereby further amended as follows:
(a)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms in the appropriate alphabetical order therein:
“Asset Sale Prepayment Date” shall mean, with respect to any Asset Sale and the Net Cash Proceeds received (or, in the case of proceeds with respect to which Holdings has delivered a notice to the Administrative Agent electing Reinvestment, deemed received) with respect thereto, the earlier of (a) the 90th day following the date on which such Net Cash Proceeds are received or deemed received, as applicable, and (b) the date on which Holdings or any of its Subsidiaries uses any of such Net Cash Proceeds to prepay or repurchase Indebtedness with Liens on the Collateral ranking pari passu with the Liens securing the Bank Obligations pursuant to an asset sale offer made in accordance with the provisions of the indenture or other agreement governing the terms of such Indebtedness.
“Reinvest” shall mean, with respect to any Asset Sale, to apply all or part of the proceeds therefrom (i) to make an investment not prohibited by Section 6.04 in any one or more businesses (provided, however, that if such investment is in the form of the acquisition of Equity Interests of a Person, such acquisition results in such Person becoming a Subsidiary if it is not already a Subsidiary), assets, or property or capital expenditures (including refurbishments), in each case used or useful in a Similar Business; or (ii) to make an investment in any one or more businesses (provided, however, that if such investment is in the form of the acquisition of Equity Interests of a Person, such acquisition results in such Person becoming a Subsidiary), properties or assets that replace the properties and assets that are the subject of such Asset Sale.  The term “Reinvestment” shall have the meaning correlative thereto.
(b)    The definition of the term “Applicable Margin” set forth in Section 1.01 of the Credit Agreement is hereby amended by amending and restating the first paragraph thereof and the table therein in their entirety as follows:
“Applicable Margin” shall mean, for any day, (a) with respect to any Eurocurrency U.S. Term Loan, 3.50% per annum, (b) with respect to any Daily Rate U.S. Term Loan, 2.50% per annum, (c) with respect to any Eurocurrency European Term Loan, 3.50% per annum, (d) with respect to any Daily Rate European Term Loan, 2.50% per annum, (e) with respect to any Eurocurrency U.S. Revolving Loan, the applicable percentage set forth below under the caption “Eurocurrency Spread – U.S. Revolving Loans”, (f) with respect to any Eurocurrency European Revolving Loan, the applicable percentage set forth below under the caption “Eurocurrency Spread – European Revolving Loans”, (g) with respect to any Daily Rate U.S. Revolving Loan, the applicable percentage set forth below under the caption “Daily Rate Spread – U.S. Revolving Loans” and (h) with respect to any Daily Rate European Revolving Loan, the applicable percentage set forth below under the caption “Daily Rate Spread – European Revolving Loans”.
	
					
	Total Leverage Ratio
	Eurocurrency Spread – U.S.  Revolving Loans
	Daily Rate Spread – U.S. Revolving Loans
	Eurocurrency Spread – European Revolving Loans
	Daily Rate Spread – European Revolving Loans

	Category 1
≥ 5.50 to 1.00
	3.75%
	2.75%
	2.75%
	1.75%

	Category 2
< 5.50 to 1.00
	3.50%
	2.50%
	2.50%
	1.50%

(c)    Section 2.12(e) of the Credit Agreement is hereby amended by replacing the words “Amendment No. 8 Effective Date” with the words “Amendment No. 9 Effective Date”.
(d)    The definition of the term “Net Cash Proceeds” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
“Net Cash Proceeds” shall mean (a) with respect to any Asset Sale, the cash proceeds (including any cash received in respect of or upon the sale or other disposition of any Designated Non-Cash Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets or other consideration received in any other non-cash form) net of (i) direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-Cash Consideration (including legal, accounting and investment banking fees, and brokerage and sales commissions), any relocation expenses incurred as a result thereof and taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing arrangements related thereto) (it being understood that to the extent any amount to be netted under this clause (i) is not known with certainty at the time any calculation of Net Cash Proceeds is made, Net Cash Proceeds shall be calculated by netting the Borrower’s good faith estimate of the relevant amount), (ii) amounts provided as a reserve, in accordance with GAAP, against any liabilities associated with the asset disposed in such transaction and retained after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction (provided that, to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Cash Proceeds), (iii) the pro rata portion of the Net Cash Proceeds thereof (calculated without regard to this clause (iii)) attributable to minority interests to the extent not available for distribution to or for the account of Holdings as a result thereof and (iv) amounts required to be applied to (x) the payment of principal, premium (if any) and interest on Indebtedness for borrowed money which is secured by such asset and which is required to be repaid with such proceeds (other than any Indebtedness assumed by the purchaser of such asset or any such Indebtedness secured by Liens on the Collateral ranking pari passu with, or junior to, the Liens securing the Bank Obligations) or (y) make any payment in respect of any Permitted Receivables Financing that is required to be made as a result of such transaction, including the related repurchase of Securitization Assets thereunder; provided, however, that, if (A) Holdings shall deliver a notice to the Administrative Agent at the time of receipt thereof electing to retain all or any portion of such proceeds for Reinvestment within 12 months of receipt of such proceeds and (B) no Default or Event of Default shall have occurred and shall be continuing at the time of delivery of such notice, such retained portion of such proceeds shall not constitute Net Cash Proceeds except to the extent not so used at the end of such 12-month period or to the extent that at any time prior to the end of such 12-month period Holdings notifies the Administrative Agent that it elects not to pursue such Reinvestment, at which time such retained portion of such proceeds shall be deemed to be Net Cash Proceeds; provided further that the aggregate cash proceeds received by Holdings or any Subsidiary in respect of the sale, transfer or other disposition of Non-Strategic Land in an aggregate amount of up to €25,000,000 shall not constitute Net Cash Proceeds; and (b) with respect to any issuance or incurrence of Indebtedness by Holdings or any Subsidiary, the cash proceeds thereof, net of all taxes and customary fees, commissions, costs and other expenses incurred in connection therewith.
(e)    Section 2.13(b) of the Credit Agreement is hereby amended and restated in its entirety as follows:
“Not later than the Asset Sale Prepayment Date with respect to any Asset Sale, the Borrowers shall apply an amount equal to 100% of the Net Cash Proceeds received with respect thereto to prepay outstanding Term Loans in accordance with Section 2.13(f); provided that (i) no such prepayment will be required until the Net Cash Proceeds in respect of Asset Sales received from and after the time of the immediately preceding prepayment under this clause (b) (or if no such prepayments have yet occurred, from the Closing Date) exceeds €20,000,000 and (ii) with respect to the Net Cash Proceeds of any Asset Sale, the Borrowers may use a portion of such Net Cash Proceeds to prepay or repurchase Senior Secured Notes with Liens on the Collateral ranking pari passu with the Liens securing the Bank Obligations to the extent any applicable Senior Secured Note Indenture requires the Borrowers to prepay or make an offer to purchase such Senior Secured Notes with the proceeds of such Asset Sale, in each case in an amount not to exceed the product of (1) the amount of such Net Cash Proceeds and (2) a fraction, the numerator of which is the outstanding principal amount of the Senior Secured Notes with a Lien on the Collateral ranking pari passu with the Liens securing the Bank Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and the denominator of which is the sum of the outstanding principal amount of such Senior Secured Notes and the outstanding principal amount of Term Loans.
Notwithstanding the foregoing, Net Cash Proceeds constituting Excepted Asset Sale Net Cash Proceeds shall not be required to be used to prepay Term Loans to the extent an amount equal to such Excepted Asset Sale Net Cash Proceeds (for the purpose of calculating the Net Cash Proceeds (other than any Contingent SIG Proceeds) of the SIG Sale (as defined in Amendment No. 9), the first proviso following clause (a)(iv) of the definition of “Net Cash Proceeds” shall be disregarded) is used, within 120 days after the receipt (or, if applicable, in the case of Net Cash Proceeds with respect to which Holdings has delivered a notice to the Administrative Agent electing Reinvestment, deemed receipt) thereof, to redeem, repurchase or otherwise retire (including by depositing such Excepted Asset Sale Net Cash Proceeds in a defeasance or similar trust or arrangement for the benefit of Indebtedness that has been called for redemption or otherwise defeased, satisfied or discharged) Senior Secured Notes, Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes, and to pay premiums and accrued and unpaid interest thereon and fees and expenses related thereto, it being understood that if the aggregate principal amount of Senior Secured Notes so redeemed, repurchased or otherwise retired (or otherwise defeased, satisfied or discharged)  at the end of such 120-day period (the “Senior Secured Notes Repurchased Amount”) is less than the Target Senior Secured Debt Repayment Amount (as defined below), the Borrower shall within 4 Business Days following the end of such 120-day period prepay outstanding Term Loans in accordance with Section 2.13(f) in an amount equal to the difference between the Target Senior Secured Debt Repayment Amount and the Senior Secured Notes Repurchased Amount.  The “Target Senior Secured Debt Repayment Amount” shall be the aggregate principal amount of Senior Secured Notes that needs to be repurchased in order for the Senior Secured First Lien Leverage Ratio, calculated by Holdings as of the date of receipt (or deemed receipt) of such Excepted Asset Sale Net Cash Proceeds after giving pro forma effect to the Excepted Asset Sale, the application of the Excepted Asset Sale Net Cash Proceeds to repurchase such Senior Secured Notes and otherwise to repurchase Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes, as contemplated in the previous sentence, and to any other event as to which pro forma recalculation is appropriate, not to exceed 3.50 to 1.00.  The pro forma calculations supporting the calculation of the Target Senior Secured Debt Repayment Amount may include estimates with respect to the various components of the pro forma calculation.  The calculation of the Target Senior Secured Debt Repayment Amount shall be certified by a Financial Officer of Holdings as having been prepared in good faith and shall be conclusive absent manifest error.”
SECTION 1.    Conditions Precedent to Effectiveness.  (a) The effectiveness of this Agreement (other than the amendments to the Credit Agreement set forth in Section 4 hereof, which shall become effective as set forth in paragraph (b) below), shall occur on and as of the date of the consummation of the first Excepted Asset Sale (such date being referred to herein as the “Effective Date”); provided that the following conditions precedent shall have been satisfied or waived on or prior to such date (the date of satisfaction of such conditions precedent, the “CP Date”):
(i)    The Administrative Agent shall have received counterparts of this Agreement that, when taken together, bear the signatures of (u) each Loan Party, (v) the Administrative Agent, (w) each Accepting U.S. Term Lender (x) U.S. Term Lenders that collectively hold U.S. Term Loans in an aggregate principal amount of at least $400,000,000, (y) each Accepting European Term Lender and (z) European Term Lenders that collectively hold European Term Loans in an aggregate principal amount of at least €200,000,000 (provided that the conditions set forth in clauses (x) and (z) above may be waived by the U.S. Term Borrowers and the European Term Borrowers, respectively).
(ii)    Subject to the Agreed Security Principles and, in the case of the Limited Loan Parties, the limitations set forth in Schedule I, on the CP Date, (x) the representations and warranties set forth in Article III of the Credit Agreement and in each other Loan Document shall be true and correct in all material respects on and as of the CP Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, (y) on the CP Date, no Default or Event of Default shall have occurred and be continuing, and (z) the Administrative Agent shall have received a certificate to the foregoing effect dated the CP Date and executed by a Financial Officer of Holdings.
(iii)    The Administrative Agent shall have received, not later than the date on which each of the other conditions precedent set forth in this paragraph (a) are met, payment of (x) all fees and other amounts due and payable on or prior to the CP Date and, to the extent invoiced, reimbursement or payment of all reasonable and documented out-of-pocket expenses required to be reimbursed or paid by the Borrowers under any Loan Document, and (y) for the account of each U.S. Term Lender and European Term Lender that unconditionally executes and delivers a counterpart signature page to this Agreement at or prior to 5:00 p.m., New York City time, on February 24, 2015, an amendment fee (the “Amendment Fee”) in an aggregate amount equal to 0.25% of the aggregate principal amount of the U.S. Term Loans and European Term Loans, respectively, held by such Term Lender immediately prior to the CP Date.  The Amendment Fee shall be payable in immediately available funds and, once paid, such fee or any part thereof shall not be refundable.
(iv)    The Collateral Agents and each Loan Party that is not a Limited Loan Party shall have executed and delivered to the Administrative Agent a reaffirmation agreement (the “Reaffirmation Agreement”), substantially in the form attached hereto as Exhibit A, and other amendments, supplements and confirmations of existing Loan Documents reasonably requested by the Administrative Agent (it being understood that the documentation required to be delivered shall, in any event, be no more onerous to Holdings and the Subsidiaries than the documentation required to be delivered on the Amendment No. 8 Effective Date), in each case subject to the Agreed Security Principles and, with respect to the Limited Loan Parties, the limitations, qualifications and other provisions set forth in Schedule I, and in each case with any modifications necessary to reflect the transactions contemplated hereby and such other modifications that are reasonably satisfactory to Holdings and the Administrative Agent.
(v)    In addition, the effectiveness of the amendments to the Credit Agreement set forth in Section 3C shall also be subject to receipt of counterparts of this Agreement that, when taken together, bear the signature of each European Revolving Credit Lender.
(b) Subject to the following sentence, the amendments to the Credit Agreement set forth in Section 4 hereof shall become effective on the date (the “Section 4 Effective Date”) on which the Administrative Agent shall have received the written consent to this Agreement of Lenders constituting the Required Lenders as of such date, provided that (i) the occurrence of the CP Date shall be a condition precedent to the effectiveness of the amendments to the Credit Agreement set forth in Section 4 and (ii) if the Section 4 Effective Date occurs prior to the Effective Date, the amendments to the Credit Agreement set forth in Section 4 shall not become effective until the Effective Date.  For purposes of the foregoing, the parties hereto acknowledge and agree that (x) if the Lenders executing this Agreement on or prior to the CP Date then constitute the Required Lenders, (A) the amendments to the Credit Agreement set forth in Sections 3A(a), 3B, 3C and 4 shall become effective simultaneously on the Effective Date and (B) the provisions of Sections 2 and 3A (other than Section 3A(a)) shall not become effective and shall be of no effect, such that all U.S. Term Lenders (regardless of whether any such Term Lender is an Accepting U.S. Term Lender or a Declining U.S. Term Lender) shall continue to constitute a single Class of Term Loans under the Amended Credit Agreement and all European Term Lenders (regardless of whether any such Term Lender is an Accepting European Term Lender or a Declining European Term Lender) shall continue to constitute a single Class of Term Loans under the Amended Credit Agreement and (y) if the Lenders executing this Agreement on or prior to the CP Date would constitute the Required Lenders after giving effect to the prepayment of the Tranche B-2 Term Loans as contemplated by the amendment to Section 2.13(b) of the Credit Agreement set forth in Section 3B(b) hereof, then the Section 4 Effective Date shall occur at the time on or after the Effective Date of such prepayment of the Tranche B-2 Term Loans and the amendments to the Credit Agreement set forth in Section 4 (other than the amendments set forth in Sections 4(b) and 4(c), which shall not become effective and shall be of no effect) shall become effective as of such date.
(c) The amendments to the Credit Agreement set forth in Sections 3A, 3B, 3C and 4 shall become effective at the times (and subject only to the satisfaction of the conditions) specified in Sections 5(a) and 5(b) above, respectively, without any further action or consent on the part of any party hereto or of any of its successors, transferees or assigns to or of its rights or interest in or arising under any Loan or any Loan Document.  For the avoidance of doubt, the consent given by a Lender on or prior to the CP Date shall bind its successors, transferees and assigns for purposes of determining whether consent from the Required Lenders, has been obtained on the Section 4 Effective Date.
SECTION 1.    Representations and Warranties.  To induce the other parties hereto to enter into this Agreement, each Loan Party party hereto represents and warrants to the Administrative Agent and each of the Lenders, with respect to itself, that, as of the CP Date, this Agreement has been duly authorized, executed and delivered by such Loan Party, and, subject to the Legal Reservations and, solely with respect to the Limited Loan Parties, the limitations and qualifications set forth in Schedule I, constitutes a legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its terms.  The Amended Credit Agreement, subject to the Legal Reservations and, solely with respect to the Limited Loan Parties, the limitations and qualifications set forth in Schedule I, constitutes a legal, valid and binding obligation of each Loan Party party thereto enforceable against such Loan Party in accordance with its terms.
SECTION 2.    Effect of Agreement.  Except as expressly set forth herein, this Agreement shall not, by implication or otherwise, limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or the Collateral Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which shall continue in full force and effect.  Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.  None of (i) this Agreement or (ii) any other Loan Document executed and delivered in connection herewith shall constitute a novation, payment and reborrowing or complete or partial termination of the Bank Obligations under the Credit Agreement and the other Loan Documents as in effect prior to the Effective Date.  Subject to the limitations set forth in Schedule I, the Liens and security interests in favor of the Collateral Agents for the benefit of the Secured Parties securing payment of the Bank Obligations under the Credit Agreement are in all respects continuing and in full force and effect with respect to all Bank Obligations.  After the date hereof, any reference in any Loan Document to the Credit Agreement shall be deemed to refer without further amendment to the Credit Agreement as amended hereby.
SECTION 3.    Consent.  Each Loan Party (solely in the case of the Limited Loan Parties subject to the limitations set forth in Schedule I) hereby consents to this Agreement and the transactions contemplated hereby.  Each of the parties hereto hereby acknowledges and agrees that each amendment to the Credit Agreement set forth in Section 3A is a Permitted Amendment.
SECTION 4.    Post-Effective Matters.  Within the time periods set forth in Schedule II or such later date as may be agreed by the Administrative Agent in its sole discretion, the Loan Parties identified on Schedule II shall enter into, subject to the Agreed Security Principles, all agreements and do all things required to be entered into and done by them as set forth in Schedule II, with each such required agreement to be in form and substance reasonably satisfactory to the Administrative Agent. 
SECTION 5.    Notices.  All notices hereunder shall be given in accordance with the provisions of Section 9.01 of the Credit Agreement.  The Administrative Agent shall promptly notify the Borrowers and the Lenders of the occurrence of the CP Date and the Section 4 Effective Date, and such notices shall be conclusive and binding. 
SECTION 6.    Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same contract.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or electronic transmission shall be as effective as delivery of a manually executed counterpart hereof.
SECTION 7.    Applicable Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION 8.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.
SECTION 9.    Jurisdiction; Consent to Service of Process.  Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York state court or Federal court of the United States of America sitting in the Borough of Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court; provided that solely for the purpose of enforcement of the rights of the Administrative Agent, any Collateral Agent and any Lender under this Agreement in Austria, each Loan Party hereby irrevocably and unconditionally also submits, for itself and its property to the jurisdiction of  the courts of England.  Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Agreement shall affect any right that the Administrative Agent, the Collateral Agents or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against any Borrower, Holdings or their respective properties in the courts of any jurisdiction.
(i)    Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or Federal court.  Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
(ii)    Each party to this Agreement irrevocably, to the extent permitted under applicable law, consents to service of process in the manner provided for notices in Section 9.01 of the Credit Agreement.  Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.
(iii)    Each Loan Party hereby irrevocably designates and appoints RGHI as its authorized agent upon which process may be served in any action, suit or proceeding arising out of or relating to this Agreement that may be instituted by the Administrative Agent, any Collateral Agent or any Lender in any Federal or state court in the State of New York.  Each Loan Party hereby agrees that service of any process, summons, notice or document by U.S. registered mail addressed to RGHI, with written notice of said service to such Loan Party at the address set forth in Section 9.01 of the Credit Agreement shall be effective service of process for any action, suit or proceeding brought in any such court.
SECTION 10.    Headings.  The headings of this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
SECTION 11.    Austrian Stamp Duty, Etc.  The parties hereto agree that the provisions of Sections 9.19 (Place of Performance) and 9.20 (Austrian Stamp Duty) of the Credit Agreement and the provisions of Sections 5.15 (Place of Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor Agreement shall apply to this Agreement as if incorporated herein mutatis mutandis. 
SECTION 12.    Successors and Assigns.  This Agreement and the Credit Agreement as amended hereby, shall bind and inure to the benefit of each of the parties hereto and each of their respective successors and assigns. 

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.

	
		
	REYNOLDS GROUP HOLDINGS LIMITED

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	 
	 

	and witnessed by /s/ Jeffrey Tate

	 
	 

	 
	Name: Jeffrey Tate

	 
	Address: 919 3rd Ave, New York, NY

	 
	Occupation: Attorney

	
		
	REYNOLDS GROUP HOLDINGS INC.

	By:

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Secretary

	
		
	REYNOLDS CONSUMER PRODUCTS HOLDINGS LLC

	By:

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

Austria

	
		
	SIG AUSTRIA HOLDING GMBH

	By:

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG COMBIBLOC GMBH

	By:

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG COMBIBLOC GMBH & CO. KG
REPRESENTED BY ITS GENERAL PARTNER SIG COMBIBLOC GMBH

	By:

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

Brazil

	
		
	CLOSURE SYSTEMS INTERNATIONAL (BRAZIL) SISTEMAS DE VEDAÇÃO LTDA.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	
		
	SIG BEVERAGES BRASIL LTDA.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	
		
	SIG COMBIBLOC DO BRASIL LTDA.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	 
	 

	By

	 
	/s/ Allen Philip Hugli

	 
	Name:    Allen Philip Hugli

	 
	Title:     Authorized Signatory

Canada

	
		
	EVERGREEN PACKAGING CANADA LIMITED

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	 
	 

	 
	 

	By

	 
	/s/ Allen Philip Hugli

	 
	Name:    Allen Philip Hugli

	 
	Title:    Authorised Signatory

	
		
	PACTIV CANADA INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	 
	 

	 
	 

	By

	 
	/s/ Allen Philip Hugli

	 
	Name:    Allen Philip Hugli

	 
	Title:    Authorised Signatory

Canada

	
		
	

REYNOLDS CONSUMER PRODUCTS CANADA INC. 

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:     Authorized Signatory

	 
	 

	 
	 

	By

	 
	/s/ Allen Philip Hugli

	 
	Name:    Allen Philip Hugli

	 
	Title:    Authorised Signatory

Germany

	
		
	CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (GERMANY) GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	OMNI-PAC EKCO GMBH VERPACKUNGSMITTEL

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	OMNI-PAC GMBH VERPACKUNGSMITTEL

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	PACTIV DEUTSCHLAND HOLDINGGESELLSCHAFT MBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

Germany

	
		
	SIG COMBIBLOC GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	SIG COMBIBLOC HOLDING GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	SIG COMBIBLOC SYSTEMS GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	SIG COMBIBLOC ZERSPANUNGSTECHNIK GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

Germany

	
		
	SIG EURO HOLDING AG & CO. KGAA
towards all parties to this Agreement other than SIG Schweizerische Industrie-Gesellschaft AG, acting through its general partner (Komplementär) SIG Schweizerische Industrie-Gesellschaft AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	towards SIG Schweizerische Industrie-Gesellschaft AG, acting through its supervisory board (Aufsichtsrat), represented by the chairman of the supervisory board acting as a representative without power of attorney (Vertreter ohne Vertretungsmacht) subject to the subsequent ratification and approval of its action by the supervisory board (Aufsichtsrat) and under exclusion of any personal liability

	 
	/s/ Dieter Koch

	 
	Name:   Dieter Koch

	 
	Title:   Member of the supervisory board

        

	
		
	SIG INFORMATION TECHNOLOGY GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	
		
	SIG INTERNATIONAL SERVICES GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

Germany

	
		
	SIG BETEILIGUNGS GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

	

PACTIV-OMNI GERMANY HOLDINGS GMBH

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:    Authorized Signatory

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.592

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.135 and having a share capital of EUR 404,969,325

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) IV S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 165957 and having a share capital of EUR 12,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.914

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) V S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 173.603

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) VI S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 173.602 and with a share capital of EUR 55,012,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	EVERGREEN PACKAGING (LUXEMBOURG) S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6c, rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 152.662 and having a share capital of EUR 12,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	REYNOLDS GROUP ISSUER (LUXEMBOURG) S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 148.957

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Mexico

	
		
	CSI EN ENSENADA, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	CSI EN SALTILLO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	CSI TECNISERVICIO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	GRUPO CSI DE MÉXICO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

Mexico

	
		
	REYNOLDS METALS COMPANY DE MÉXICO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	PACTIV FOODSERVICE MÉXICO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	GRUPO CORPORATIVO JAGUAR, S.A. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	SERVICIOS INDUSTRIALES JAGUAR, S.A. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

Mexico

	
		
	SERVICIO TERRESTRE JAGUAR, S.A. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

	
		
	PACTIV MÉXICO, S. DE R.L. DE C.V.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorized Signatory

The Netherlands

	
		
	CLOSURE SYSTEMS INTERNATIONAL B.V.

	By

	 
	/s/ Carl John Getz

	 
	Name:   Carl John Getz

	 
	Title:   Director A

	
		
	By

	 
	/s/ E. Jongsma     /s/ Maria M.A. Princen

	 
	Name:   E Jongsma  Maria M.A. Princen

	 
	Title:   Director B

	
		
	EVERGREEN PACKAGING INTERNATIONAL B.V.

	By

	 
	/s/ Carl John Getz

	 
	Name:   Carl John Getz

	 
	Title:   Director B

	
		
	By

	 
	/s/ E. Jongsma     /s/ Maria M.A. Princen

	 
	Name:   E Jongsma  Maria M.A. Princen

	 
	Title:   Director A

	
		
	REYNOLDS PACKAGING INTERNATIONAL B.V.

	By

	 
	/s/ Carl John Getz

	 
	Name:   Carl John Getz

	 
	Title:   Director A

	By

	 
	/s/ E. Jongsma     /s/ Maria M.A. Princen

	 
	Name:   E Jongsma  Maria M.A. Princen

	 
	Title:   Director B

New Zealand

	
		
	WHAKATANE MILL LIMITED

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	 
	 

	and witnessed by /s/ Jeffrey Tate

	 
	 

	 
	Name: Jeffrey Tate

	 
	Address: 919 3rd Ave, New York, NY

	 
	Occupation: Attorney

Switzerland

	
		
	SIG ALLCAP AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG COMBIBLOC GROUP AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG COMBIBLOC PROCUREMENT AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG COMBIBLOC (SCHWEIZ) AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

	
		
	SIG SCHWEIZERISCHE INDUSTRIE-GESELLSCHAFT AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

Switzerland

	
		
	SIG TECHNOLOGY AG

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

Thailand

	
		
	SIG COMBIBLOC LTD.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Attorney

United States

	
		
	BAKERS CHOICE PRODUCTS, INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	BCP/GRAHAM HOLDINGS L.L.C.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary and Vice President

	
				
	BEVERAGE PACKAGING HOLDINGS II ISSUER INC.

	 

	 
	By
	 

	 
	 
	/s/ Allen Philip Hugli
	 

	 
	 
	Name:   Allen Philip Hugli
	 

	 
	 
	Title:   Vice President and Treasurer
	 

	
		
	BLUE RIDGE HOLDING CORP.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

United States

	
		
	BRPP, LLC.
BY: BLUE RIDGE PAPER PRODUCTS INC., AS MANAGER OF BRPP, LLC

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

	
		
	 

BLUE RIDGE PAPER PRODUCTS INC.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL AMERICAS, INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL HOLDINGS LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

United States

	
		
	CLOSURE SYSTEMS INTERNATIONAL INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL PACKAGING MACHINERY INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

United States

	
		
	CLOSURE SYSTEMS MEXICO HOLDINGS LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CSI MEXICO LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CSI SALES & TECHNICAL SERVICES INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	EVERGREEN PACKAGING INC.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

United States

	
		
	GPACSUB LLC

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

	
		
	GPC HOLDINGS LLC

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

United States

	
		
	GPC OPCO GP LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GPC SUB GP LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING ACQUISITION CORP.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING COMPANY INC.

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

United States

	
		
	GRAHAM PACKAGING COMPANY, L.P.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING GP ACQUISITION LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING HOLDINGS COMPANY

	BY: BCP/GRAHAM HOLDINGS L.L.C., its General Partner 

By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING LC, L.P.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	GRAHAM PACKAGING LP ACQUISITION LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PET TECHNOLOGIES INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PLASTIC PRODUCTS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PX COMPANY

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	GRAHAM PACKAGING PX HOLDING CORPORATION

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PX, LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM RECYCLING COMPANY, L.P.

	By: GPC SUB GP LLC, its General Partner

	 

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	PACTIV INTERNATIONAL HOLDINGS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	PACTIV LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Vice President

	
		
	PACTIV MANAGEMENT COMPANY LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Assistant Secretary

	
		
	

PACTIV PACKAGING INC.

	By

	 
	/s/ Joseph E. Doyle

	 
	Name:   Joseph E. Doyle 

	 
	Title:   Assistant Secretary

United States

	
		
	PCA WEST INC.

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President

United States

	
		
	RENPAC HOLDINGS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Secretary

	
		
	REYNOLDS CONSUMER PRODUCTS LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Assistant Secretary

	 
	 

	
		
	

REYNOLDS GROUP ISSUER INC.

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President and Treasurer

	
		
	REYNOLDS GROUP ISSUER LLC

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President and Treasurer

	
		
	REYNOLDS MANUFACTURING, INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Secretary

United States

	
		
	REYNOLDS PRESTO PRODUCTS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	REYNOLDS SERVICES INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Secretary

	
		
	SIG COMBIBLOC INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	SIG HOLDING USA, LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

United States

	
		
	SOUTHERN PLASTICS, INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	 
	 

	
		
	TRANS WESTERN POLYMERS, INC.

	By

	 
	/s/ Joseph E. Doyle

	 
	Name:   Joseph E. Doyle

	 
	Title:   Secretary

	
		
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent

	by

	 
	/s/ Robert Hetu

	 
	Name: Robert Hetu

	 
	Title: Authorized Signatory

	 

	by

	 
	/s/ Lingzi Huang

	 
	Name: Lingzi Huang

	 
	Title: Authorized Signatory

Limitations
Each Loan Party incorporated or otherwise organized under the laws of any jurisdiction other than the United States or any state thereof or Luxembourg (other than Holdings) and any Loan Party as may be agreed by the Administrative Agent acting in its sole discretion (each a “Limited Loan Party”, and collectively, the “Limited Loan Parties”) is only a signatory to this Agreement for the purpose of giving its assent to the amendments to the Credit Agreement made by this Agreement (and for no other purpose whatsoever).  It is expressly agreed by all parties to this Agreement that, notwithstanding that each such Limited Loan Party is a signatory to this Agreement, none of the Limited Loan Parties is (by so being a signatory) consenting to, confirming or otherwise acknowledging, and no Limited Loan Party shall be held liable for, any extension whatsoever of its obligations and liabilities under the Credit Agreement or any other Loan Document (in its capacity as a Loan Party or otherwise) in excess of, or in addition to, such obligations and liabilities as they existed with respect to such Limited Loan Party immediately prior to the Effective Date.
The Administrative Agent and the Lenders party hereto hereby agree that there shall be no breach of any representation, warranty or covenant in the Credit Agreement or any other Loan Documents as a result of the fact that any such representation or warranty made by or with respect to (a) a Limited Loan Party or (b) a Limited Loan Party Shareholder (but only in respect of a Limited Collateral Agreement), required in any Loan Document or in any document required by any Loan Document would be untrue or incorrect (or any such covenant would be unable to be satisfied) by virtue of the fact that (i) all necessary corporate or other action may not yet have been taken to approve or authorize the extension by such Limited Loan Party of any obligation or liability on its part in respect of this Agreement (save for the purpose referred to in the first paragraph above) or the Reaffirmation Agreement referred to herein or any other amendment, supplement, or confirmation of any existing Loan Document as referred to in Section 5(a)(vi) of this Agreement or any matters relating thereto, (ii) all necessary corporate or other action may not yet have been taken by a Limited Loan Party Shareholder to approve or authorize the extension by it of its obligations under any Limited Collateral Agreement to which it is a party, or otherwise in respect of this Agreement or (iii) any existing guarantee or security interest in the Collateral (a) provided by such Limited Loan Party or (b) provided by a Limited Loan Party Shareholder under a Limited Collateral Agreement may not be legal, valid or enforceable in respect of Bank Obligations in respect of this Agreement or any such security interest is not a first priority Lien and perfected in respect thereof, and no Default or Event of Default shall be deemed to have occurred as a result thereof, provided that the Loan Parties are otherwise in compliance with the obligations under Section 9 of this Agreement.  
For the purposes of this Schedule II, “Limited Collateral Agreement” shall mean a Collateral Agreement entered into by a Loan Party (a “Limited Loan Party Shareholder”) in respect of the equity, stock or other membership interests of a Limited Loan Party.

Post-Effectiveness Matters

Holdings shall cause, within 90 days after the CP Date (or such later date as the Administrative Agent in its sole discretion may permit), and subject to the Agreed Security Principles, each Limited Loan Party that has not theretofore been released from all of its obligations as a Guarantor under the Credit Agreement to take any and all actions reasonably requested by the Administrative Agent to confirm and acknowledge (in particular but not limited to by way of confirmation agreements) that its guarantee of the Bank Obligations (with respect to each such Loan Party) and its other security granted (with respect to each such Loan Party) continue in full force and effect, in each case subject to any limitations contained therein or in Schedule 10.03 of the Amended Credit Agreement, in respect of the Bank Obligations under the Amended Credit Agreement and the other Loan Documents.Exhibit

EXECUTION VERSION

The taking of this document or any certified copy of it or any other document which constitutes substitute documentation for it, or any document which includes written confirmations or references to it, into Austria as well as printing out any email communication which refers to this document in Austria or sending any email communication to which a PDF scan of this document is attached to an Austrian addressee or sending any email communication carrying an electronic or digital signature which refers to this document to an Austrian addressee may cause the imposition of Austrian stamp duty.  Accordingly, keep the original document as well as all certified copies thereof and written and signed references to it outside of Austria and avoid printing out any email communication which refers to this document in Austria or sending any email communication to which a PDF scan of this document is attached to an Austrian addressee or sending any email communication carrying an electronic or digital signature which refers to this document to an Austrian addressee.
REAFFIRMATION AGREEMENT, dated as of February 25, 2015 (this “Agreement”), among (a) Reynolds Group Holdings Limited (“Holdings”), (b) Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC, Closure Systems International Holdings LLC, Pactiv LLC, Evergreen Packaging Inc., Reynolds Consumer Products LLC, and Beverage Packaging Holdings (Luxembourg) III S.à r.l. (collectively, with SIG Euro Holding AG & Co. KGaA and Closure Systems International B.V., the “Borrowers”), (c)  Reynolds Group Issuer (Luxembourg) S.A. (“Lux Issuer”), Reynolds Group Issuer LLC (“LLC Issuer”) and Reynolds Group Issuer Inc. (“Inc. Issuer”) (collectively, the “Issuers”), (d) the Grantors listed on Schedule A hereto (the “Security Reaffirming Parties”) and the Grantors listed on Schedule C hereto (together with the Security Reaffirming Parties, the “Reaffirming Parties”), (e) Credit Suisse AG, as administrative agent (in such capacity, the “Administrative Agent”) under the Credit Agreement (as defined below), (f) The Bank of New York Mellon, as trustee under the September 2012 Senior Secured Notes Indenture (as defined below) (in such capacity, the “September 2012 Trustee”), (g) The Bank of New York Mellon, as trustee under the August 2011 Senior Secured Notes Indenture (as defined below) (in such capacity, the “August 2011 Trustee”), (h) The Bank of New York Mellon, as trustee under the February 2011 Senior Secured Notes Indenture (as defined below) (in such capacity, the “February 2011 Trustee”), (i) The Bank of New York Mellon, as trustee under the October 2010 Senior Secured Notes Indenture (as defined below) (in such capacity, the “October 2010 Trustee”), and (j) The Bank of New York Mellon as collateral agent (the “Collateral Agent”) and Wilmington Trust (London) Limited as a collateral agent (the “Additional Collateral Agent”) (together, the Collateral Agent and the Additional Collateral Agent are referred to as the “Collateral Agents”) under the First Lien Intercreditor Agreement (as defined below).
A.The Administrative Agent, the Collateral Agents and the Reaffirming Parties, among others, entered into the First Lien Intercreditor Agreement dated as of November 5, 2009, as amended by Amendment No. 1 and Joinder Agreement dated as of January 21, 2010 (the “First Lien Intercreditor Agreement”).  Capitalized terms used but not defined herein have the meanings assigned to such terms in the First Lien Intercreditor Agreement, the Credit Agreement (as defined below) or Amendment No. 9 (as defined below), as applicable.
B.    Pursuant to the Loan Modification Agreement and Amendment No. 9 dated as of the date hereof (“Amendment No. 9”), related to the Third Amended and Restated Credit Agreement dated as of September 28, 2012, among Holdings, the Borrowers, the Guarantors from time to time party thereto, the Lenders from time to time party thereto and the Administrative Agent (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), the Credit Agreement is being amended to, among other things, (i) provide that the Borrowers shall not be required to use the net cash proceeds of the Disclosed Asset Sales to prepay the Term Loans of Accepting Term Lenders (or, if the Accepting Term Lenders, together with the Revolving Credit Lenders party to Amendment No. 9 constitute the Required Lenders, the Term Loans of all Term Lenders) in certain circumstances, so long as such net cash proceeds are used (x) if the consent of the Required Lenders is not so obtained, to prepay the Term Loans of Declining Term Lenders and (y) to redeem, repurchase or otherwise retire Senior Secured Notes, Senior Unsecured Notes, November 2013 Senior Unsecured Notes and/or Subordinated Notes, (ii) increase the Applicable Margins with respect to which the amendments described in clause (i) above are applicable and (iii) provide that extensions of credit denominated in Dollars may be made under the European Revolving Credit Commitments.
C.    The Issuers (as successors to the Escrow Issuers (as defined in the October 2010 Senior Secured Notes Indenture)), the Collateral Agents, the October 2010 Trustee and The Bank of New York Mellon, London Branch, as paying agent, among others, entered into an indenture, dated as of October 15, 2010 (as amended or supplemented prior to the date hereof, the “October 2010 Senior Secured Notes Indenture”), pursuant to which the Issuers issued certain debt securities. On November 16, 2010, in connection with such issuance, the October 2010 Trustee became a party to the First Lien Intercreditor Agreement pursuant to Section 5.02(c) thereof.
D.    The Issuers, the Collateral Agents, the February 2011 Trustee and The Bank of New York Mellon, London Branch, as paying agent, among others, entered into an indenture, dated as of February 1, 2011 (as amended or supplemented prior to the date hereof, the “February 2011 Senior Secured Notes Indenture”), pursuant to which the Issuers issued certain debt securities. On February 1, 2011, in connection with such issuance, the February 2011 Trustee became a party to the First Lien Intercreditor Agreement pursuant to Section 5.02(c) thereof.
E.    The Issuers (as successors to the Escrow Issuers (as defined in the August 2011 Senior Secured Notes Indenture)), the Collateral Agents, the August 2011 Trustee and The Bank of New York Mellon, London Branch, as paying agent, among others, entered into an indenture, dated as of August 9, 2011 (as amended or supplemented prior to the date hereof, the “August 2011 Senior Secured Notes Indenture”), pursuant to which the Issuers issued certain debt securities. On September 8, 2011, in connection with such issuance, the August 2011 Trustee became a party to the First Lien Intercreditor Agreement pursuant to Section 5.02(c) thereof.
F.    The Issuers, the Collateral Agents, the September 2012 Trustee and The Bank of New York Mellon, London Branch, as paying agent, among others, have entered into an indenture, dated as of September 28, 2012 (the “September 2012 Senior Secured Notes Indenture”), pursuant to which the Issuers issued certain debt securities.  On September 28, 2012, in connection with such issuance, the September 2012 Trustee became a party to the First Lien Intercreditor Agreement pursuant to Section 5.02(c) thereof.
G.    Certain of the Security Reaffirming Parties are party to one or more of the Reaffirmed Security Documents (as defined below).
H.    Each Reaffirming Party expects to realize, or has realized, direct and indirect benefits as a result of the consummation of the transactions contemplated by Amendment No. 9.  
In consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I 
 
Reaffirmation
SECTION 1.01.    Reaffirmation.  (a)  Each Security Reaffirming Party (i) agrees that, notwithstanding the effectiveness of Amendment No. 9 or the consummation of the transactions contemplated thereby, each of the Security Documents (as each may have been amended, modified and/or confirmed on or prior to the date hereof) set forth on Schedule B hereto to which it is a party (each, a “Reaffirmed Security Document”) continues to be in full force and effect, subject to the Legal Reservations, and is hereby ratified and reaffirmed, (ii) confirms its respective pledges and grants of security interests in the Collateral to the extent provided in the Reaffirmed Security Documents and (iii) acknowledges that each such Reaffirmed Security Document to which it is a party and the First Lien Intercreditor Agreement continue in full force and effect subject to the Legal Reservations and extend, subject to the limitations contained therein, to any additional Bank Obligations arising as a result of Amendment No. 9, which shall, as of the date hereof, be considered “Credit Agreement Obligations” under the First Lien Intercreditor Agreement.
(b)    Each Reaffirming Party hereby (i) ratifies and affirms Amendment No. 9 and the transactions contemplated thereby, (ii) agrees that, notwithstanding the effectiveness of Amendment No. 9, its guarantee provided pursuant to Article X of the Credit Agreement continues to be in full force and effect, (iii) confirms its guarantee of the Bank Obligations (with respect to itself) as provided in the Loan Documents (including any limitations expressly set forth therein as may be amended and/or modified from time to time) and (iv) acknowledges that such guarantee (including any limitations thereto expressly set forth in the relevant Loan Document, including Schedule 10.03 of the Credit Agreement mutatis mutandis and in any Guarantor Joinder to the Credit Agreement) continues in full force and effect in respect of the Bank Obligations under the Credit Agreement and the other Loan Documents, including any additional Bank Obligations arising as a result of Amendment No. 9.
(c)    Each of the Security Reaffirming Parties hereby confirms and agrees that, with respect to any Reaffirmed Security Document to which it is a party, all additional Bank Obligations arising as a result of Amendment No. 9 constitute “Obligations” or “Secured Liabilities” or words of similar import as set forth across from and described under the applicable Reaffirmed Security Documents listed in Schedule B.
(d)    Each of the Security Reaffirming Parties hereby agrees that the Parallel Debt, if any, of such Security Reaffirming Party created under the First Lien Intercreditor Agreement or under any Guarantor Joinder in effect prior to the date hereof shall continue to be in full force and effect and shall accrue to the benefit of each Collateral Agent (for the benefit of the Secured Parties (as defined in the First Lien Intercreditor Agreement)) and shall continue to apply, as applicable, in relation to all Obligations following the effectiveness of Amendment No. 9 and the consummation of the transactions contemplated thereby.
ARTICLE II     
 
Representations and Warranties
SECTION 2.01.    Organization; Powers.  Each Reaffirming Party hereby represents and warrants as of the date hereof that such Reaffirming Party (a) is duly organized, validly existing and in good standing (or where applicable the equivalent status in any foreign jurisdiction) under the laws of the jurisdiction of its organization, except where the failure to be in good standing could not reasonably be expected to result in a Material Adverse Effect and (b) has the power and authority to execute, deliver and perform its obligations under this Agreement.
SECTION 2.02.    Authorization.  Each Reaffirming Party hereby represents and warrants as of the date hereof that the entry by such Reaffirming Party into this Agreement has been duly authorized by all requisite corporate and/or partnership and, if required, stockholder, works council and partner action.
SECTION 2.03.    Enforceability.  Each Reaffirming Party hereby represents and warrants as of the date hereof that this Agreement has been duly executed and delivered by such Reaffirming Party and, subject to the Legal Reservations, constitutes a legal, valid and binding obligation of such Reaffirming Party enforceable against such Reaffirming Party in accordance with its terms.
SECTION 2.04.    Grantors.  Holdings hereby represents and warrants as of the date hereof that each Reaffirming Party and the Grantors listed on Schedule D (which are not signatories hereto) hereto constitute all of the Grantors under the Credit Agreement and the First Lien Intercreditor Agreement existing immediately prior to the date hereof.
ARTICLE III     
 
Miscellaneous
SECTION 3.01.    Notices.  All communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the First Lien Intercreditor Agreement; provided that all communications and notices to Wilmington Trust (London) Limited hereunder shall be given to it at the address set forth below, or to such other address as Wilmington Trust (London) Limited may hereafter specify.
Wilmington Trust (London) Limited
Third Floor
1 King’s Arms Yard
London EC2R 7AF
Facsimile: +44 (0)20 7397 3601
Attention: Elaine Lockhart and Paul Barton
SECTION 3.02.    Loan Document.  This Agreement is a Loan Document executed pursuant to the Credit Agreement and shall be construed, administered and applied in accordance with the terms of the Credit Agreement as applicable.
SECTION 3.03.    Effectiveness; Counterparts.  This Agreement shall become effective on the date when copies hereof, which when taken together bear the signatures of each Reaffirming Party, the Collateral Agents, the Administrative Agent, the September 2012 Trustee, the August 2011 Trustee, the February 2011 Trustee and the October 2010 Trustee, shall have been received by each of the Collateral Agents, the Administrative Agent, the September 2012 Trustee, the August 2011 Trustee, the February 2011 Trustee and the October 2010 Trustee.  This Agreement may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each of the parties hereto.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by telecopier or other electronic imaging means of an executed counterpart of a signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement.
SECTION 3.04.    No Novation.  This Agreement shall not extinguish the obligations for the payment of money outstanding under any Credit Document or discharge or release the priority of any Credit Document or any other security therefor.  Nothing herein shall be construed as a substitution or novation of the obligations outstanding under any Credit Document or instruments securing the same, which shall remain in full force and effect.  Nothing in or implied by this Agreement or in any other document contemplated hereby shall be construed as a release or other discharge of Holdings, any Borrower, any Issuer or any other Grantor under any Credit Document from any of its obligations and liabilities thereunder.  Each of the Credit Documents shall remain in full force and effect notwithstanding the execution and delivery of this Agreement.
SECTION 3.05.    GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION 3.06.    Austrian Stamp Duty, Etc.  The parties hereto agree that the provisions of Sections 9.19 (Place of Performance) and 9.20 (Austrian Stamp Duty) of the Credit Agreement (and, if the Credit Agreement is no longer in existence, an equivalent clause in any Additional Agreement) and the provisions of Sections 5.15 (Place of Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor Agreement (and, if the First Lien Intercreditor Agreement is no longer in existence, an equivalent clause in any Intercreditor Arrangements) shall apply to this Agreement as if incorporated herein mutatis mutandis.
SECTION 3.07.    No Other Supplement; Confirmation.  Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Secured Parties under any Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in any Credit Document, all of which shall continue in full force and effect.
SECTION 3.08.    Rights of the Collateral Agents.  For the avoidance of doubt, notwithstanding anything contained herein, each of the protections, immunities, rights, indemnities and benefits conferred on the Collateral Agents under the Reaffirmed Security Documents and the First Lien Intercreditor Agreement shall continue in full force and effect and shall apply to this Agreement as if set out in full herein.
[remainder of page intentionally blank; signature page is next page]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.
	
			
	REYNOLDS GROUP HOLDINGS LIMITED,

	By
	 

	 
	/s/ Helen Dorothy Golding
	 

	 
	Name:   Helen Dorothy Golding
	 

	 
	Title:   Authorised Signatory
	 

	and witnessed by /s/ Jeffrey Tate
     Name: Jeffrey Tate
     Address: 919 3rd Ave, New York, NY
     Occupation: Attorney
	 

	
			
	REYNOLDS GROUP HOLDINGS INC.

	By:
	 

	 
	/s/ Helen Dorothy Golding
	 

	 
	Name:   Helen Dorothy Golding
	 

	 
	Title:   Secretary
	 

	
			
	REYNOLDS CONSUMER PRODUCTS HOLDINGS LLC

	By:
	 

	 
	/s/ Helen Dorothy Golding
	 

	 
	Name:   Helen Dorothy Golding
	 

	 
	Title:   Assistant Secretary
	 

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.592

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.135 and having a share capital of EUR 404,969,325

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) IV S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 165957 and having a share capital of EUR 12,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 128.914

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) V S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 173.603

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) VI S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 173.602 and with a share capital of EUR 55,012,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

Luxembourg

	
		
	EVERGREEN PACKAGING (LUXEMBOURG) S.À R.L., a private limited liability company (société à responsabilité limitée) with registered office at 6c, rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 152.662 and having a share capital of EUR 12,500

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

	
		
	REYNOLDS GROUP ISSUER (LUXEMBOURG) S.A., a public limited liability company (société anonyme) with registered office at 6C rue Gabriel Lippmann, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with the Luxembourg register of commerce and companies under number B 148.957

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:    Helen Dorothy Golding

	 
	Title:   Authorised Signatory

United States

	
		
	BAKERS CHOICE PRODUCTS, INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	BCP/GRAHAM HOLDINGS L.L.C.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary and Vice President

	
				
	BEVERAGE PACKAGING HOLDINGS II ISSUER INC.

	 

	 
	By
	 

	 
	 
	/s/ Allen Philip Hugli
	 

	 
	 
	Name:   Allen Philip Hugli
	 

	 
	 
	Title:   Vice President and Treasurer
	 

	
		
	BLUE RIDGE HOLDING CORP.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

United States

	
		
	BRPP, LLC.
BY: BLUE RIDGE PAPER PRODUCTS INC., AS MANAGER OF BRPP, LLC

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

	
		
	 

BLUE RIDGE PAPER PRODUCTS INC.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL AMERICAS, INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL HOLDINGS LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

United States

	
		
	CLOSURE SYSTEMS INTERNATIONAL INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CLOSURE SYSTEMS INTERNATIONAL PACKAGING MACHINERY INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

United States

	
		
	CLOSURE SYSTEMS MEXICO HOLDINGS LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CSI MEXICO LLC

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	CSI SALES & TECHNICAL SERVICES INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	
		
	EVERGREEN PACKAGING INC.

	By

	 
	/s/ John C. Pekar

	 
	Name:   John C. Pekar

	 
	Title:   Vice President and Secretary

United States

	
		
	GPACSUB LLC

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

	
		
	GPC HOLDINGS LLC

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

United States

	
		
	GPC OPCO GP LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GPC SUB GP LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING ACQUISITION CORP.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING COMPANY INC.

	By

	 
	/s/ Joseph B. Hanks

	 
	Name:   Joseph B. Hanks

	 
	Title:   Vice President and Secretary

United States

	
		
	GRAHAM PACKAGING COMPANY, L.P.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING GP ACQUISITION LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING HOLDINGS COMPANY

	BY: BCP/GRAHAM HOLDINGS L.L.C., its General Partner 

By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING LC, L.P.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	GRAHAM PACKAGING LP ACQUISITION LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PET TECHNOLOGIES INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PLASTIC PRODUCTS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PX COMPANY

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	GRAHAM PACKAGING PX HOLDING CORPORATION

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM PACKAGING PX, LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

	
		
	GRAHAM RECYCLING COMPANY, L.P.

	By: GPC SUB GP LLC, its General Partner

	 

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Vice President and Assistant Secretary

United States

	
		
	PACTIV INTERNATIONAL HOLDINGS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	PACTIV LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Vice President

	
		
	PACTIV MANAGEMENT COMPANY LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Assistant Secretary

	
		
	

PACTIV PACKAGING INC.

	By

	 
	/s/ Joseph E. Doyle

	 
	Name:   Joseph E. Doyle 

	 
	Title:   Assistant Secretary

United States

	
		
	PCA WEST INC.

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President

United States

	
		
	RENPAC HOLDINGS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Secretary

	
		
	REYNOLDS CONSUMER PRODUCTS LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding 

	 
	Title:   Assistant Secretary

	 
	 

	
		
	

REYNOLDS GROUP ISSUER INC.

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President and Treasurer

	
		
	REYNOLDS GROUP ISSUER LLC

	By

	 
	/s/ Allen Phillip Hugli

	 
	Name:   Allen Phillip Hugli 

	 
	Title:   Vice President and Treasurer

	
		
	REYNOLDS MANUFACTURING, INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Secretary

United States

	
		
	REYNOLDS PRESTO PRODUCTS INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	REYNOLDS SERVICES INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Secretary

	
		
	SIG COMBIBLOC INC.

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

	
		
	SIG HOLDING USA, LLC

	By

	 
	/s/ Helen Dorothy Golding

	 
	Name:   Helen Dorothy Golding

	 
	Title:   Assistant Secretary

United States

	
		
	SOUTHERN PLASTICS, INC.

	By

	 
	/s/ Stephanie A.H. Blackman

	 
	Name:   Stephanie A.H. Blackman

	 
	Title:   Secretary

	 
	 

	
		
	TRANS WESTERN POLYMERS, INC.

	By

	 
	/s/ Joseph E. Doyle

	 
	Name:   Joseph E. Doyle

	 
	Title:   Secretary

	
		
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent,

	by

	 
	/s/ Robert Hetu

	 
	Name:   Robert Hetu

	 
	Title:   Authorized Signatory

	 
	 

	by

	 
	/s/ Lingzi Huang

	 
	Name:   Lingzi Huang

	 
	Title:   Authorized Signatory

	
		
	THE BANK OF NEW YORK MELLON, in its capacity as Collateral Agent,

	by

	 
	/s/ Catherine F. Donohue

	 
	Name:   Catherine F. Donohue

	 
	Title:   Vice President

	
			
	THE BANK OF NEW YORK  MELLON, in its capacity as September 2012 Trustee, August 2011 Trustee, February 2011 Trustee, and October 2010 Trustee,

	By:
	 

	 
	/s/ Catherine F. Donohue
	 

	 
	Name:   Catherine F. Donohue
	 

	 
	Title:   Vice President
	 

	
		
	WILMINGTON TRUST (LONDON) LIMITED, in its capacity as Additional Collateral Agent,

	by

	 
	/s/ Paul Barton

	 
	Name:   Paul Barton

	 
	Title:   Director

List of the Security Reaffirming Parties
	
		
	JURISDICTION
	ENTITY

	LUXEMBOURG
	1.    Beverage Packaging Holdings (Luxembourg) I S.A.
2.    Beverage Packaging Holdings (Luxembourg) II S.A.
3.    Beverage Packaging Holdings (Luxembourg) III S.à r.l.
4.    Beverage Packaging Holdings (Luxembourg) IV S.à r.l.
5.    Beverage Packaging Holdings (Luxembourg) V S.A.
6.    Beverage Packaging Holdings (Luxembourg) VI S.à r.l.
7.    Reynolds Group Issuer (Luxembourg) S.A.
8.    Evergreen Packaging (Luxembourg) S.à r.l.

	NEW ZEALAND
	9.    Reynolds Group Holdings Limited

	UNITED STATES
	10.    Bakers Choice Products, Inc. 
11.    BCP/Graham Holdings L.L.C.
12.    Beverage Packaging Holdings II Issuer Inc.
13.    Blue Ridge Holding Corp.
14.    Blue Ridge Paper Products Inc.
15.    BRPP, LLC
16.    Closure Systems International Americas, Inc.
17.    Closure Systems International Holdings LLC
18.    Closure Systems International Packaging Machinery, Inc.
19.    Closure Systems International, Inc.
20.    Closure Systems Mexico Holdings LLC
21.    CSI Mexico LLC
22.    CSI Sales & Technical Services Inc.
23.    Evergreen Packaging Inc.
24.    GPACSUB LLC
25.    GPC Holdings LLC
26.    GPC Opco GP LLC
27.    GPC Sub GP LLC
28.    Graham Packaging Acquisition Corp.
29.    Graham Packaging Company Inc.
30.    Graham Packaging Company, L.P.
31.    Graham Packaging GP Acquisition LLC
32.    Graham Packaging Holdings Company
33.    Graham Packaging LC, L.P.
34.    Graham Packaging LP Acquisition LLC
35.    Graham Packaging PET Technologies Inc.
36.    Graham Packaging Plastic Products Inc.
37.    Graham Packaging PX Company
38.    Graham Packaging PX Holding Corporation
39.    Graham Packaging PX, LLC
40.    Graham Recycling Company, L.P.
41.    Pactiv Germany Holdings, Inc.
42.    Pactiv International Holdings Inc.
43.    Pactiv LLC
44.    Pactiv Management Company LLC
45.    PCA West Inc.
46.    Pactiv Packaging Inc.
47.    Renpac Holdings Inc.
48.    Reynolds Consumer Products Holdings LLC
49.    Reynolds Consumer Products LLC
50.    Reynolds Group Holdings Inc.
51.    Reynolds Group Issuer Inc.
52.    Reynolds Group Issuer LLC
53.    Reynolds Manufacturing Inc.
54.    Reynolds Presto Products Inc.
55.    Reynolds Services Inc.
56.    SIG Combibloc Inc.
57.    SIG Holding USA, LLC
58.    Southern Plastics Inc.
59.    Trans Western Polymers, Inc.

Part I
List of the Reaffirmed Security Documents
Collateral Agent: The Bank of New York Mellon

	
			
	JURISDICTION
	DOCUMENTS
	Local term covering “Obligations” as defined in the FLICA

	LUXEMBOURG
	Share Pledge Agreement dated November 5, 2009 and entered into between Reynolds Group Holdings Limited as pledgor and the Collateral Agent, such pledge being granted over the shares held by Reynolds Group Holdings Limited in the share capital of Beverage Packaging Holdings (Luxembourg) I S.A.

Share Pledge Agreement dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, such pledge being granted over the shares held by Beverage Packaging Holdings (Luxembourg) I S.A. in the share capital of Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Share Pledge Agreement dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, such pledge being granted over the shares held by Beverage Packaging Holdings (Luxembourg) I S.A. in the share capital of Reynolds Group Issuer (Luxembourg) S.A.

Pledge Over Receivables dated November 5, 2009 and entered into by Reynolds Group Issuer (Luxembourg) S.A. as pledgor and the Collateral Agent, such pledge being granted over certain receivables held by Reynolds Group Issuer (Luxembourg) S.A. towards Beverage Packaging Holdings (Luxembourg) III S.à r.l. under a proceeds loan agreement.

Pledge Over Receivables dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) I S.A. towards Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Pledge Over Receivables dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) II S.A. as pledgor and the Collateral Agent, such pledge being granted over the claims the pledgor owns against Beverage Packaging Holdings (Luxembourg) I S.A. under certain proceeds loans made by Beverage Packaging Holdings (Luxembourg) II S.A. to Beverage Packaging Holdings (Luxembourg) I S.A.

Profit Participating Bonds Pledge Agreement dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, such pledge being granted over the Bonds (as defined therein) issued by Beverage Packaging Holdings (Luxembourg) III S.à r.l. and held by Beverage Packaging Holdings (Luxembourg) I S.A.

Pledge Over Bank Accounts dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, over certain bank accounts opened with the Account Bank (as defined therein).

Pledge Over Bank Accounts dated November 5, 2009 and entered into between Reynolds Group Issuer (Luxembourg) S.A. as pledgor and the Collateral Agent, over certain bank accounts opened with the Account Bank (as defined therein).

Pledge Over Receivables dated December 2, 2009 and entered into between Reynolds Group Holdings Limited as pledgor and the Collateral Agent in the presence of Beverage Packaging Holdings (Luxembourg) I S.A., such pledge being granted over certain receivables held by Reynolds Group Holdings Limited towards Beverage Packaging Holdings (Luxembourg) I S.A. under an intercompany loan agreement.

Pledge Over Receivables dated February 23, 2010 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent in the presence of SIG Austria Holding GmbH and SIG Euro Holding AG & Co. KGaA, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) I S.A. towards SIG Austria Holding GmbH and SIG Euro Holding AG & Co. KGaA under certain intercompany loan agreements.

Share Pledge Agreement dated March 20, 2012 and entered into between Graham Packaging Company, L.P. as pledgor and the Collateral Agent, such pledge being granted over 65% of the shares held by Graham Packaging Company, L.P. in the share capital of Graham Packaging European Holdings (Luxembourg) S.à r.l.

Share Pledge Agreement dated March 20, 2012 and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l.as pledgor and the Collateral Agent, such pledge being granted over the shares held by Beverage Packaging Holdings (Luxembourg) III S.à r.l. in the share capital of Beverage Packaging Holdings (Luxembourg) IV S.à r.l.

Pledge Over Receivables dated November 5, 2009 and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l. as pledgor and the Collateral Agent, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) III S.à r.l. towards Beverage Packaging Holdings (Luxembourg) I S.A.

Pledge Over Bank Accounts dated November 5, 2009, as amended on July 20, 2012, and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l. as pledgor and the Collateral Agent, over certain bank accounts opened with the Account Bank (as defined therein).

Pledge Over Receivables dated May 4, 2010 and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l. as pledgor and the Collateral Agent in the presence of SIG Combibloc Holding GmbH, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) III S.à r.l. towards SIG Combibloc Holding GmbH under certain intercompany loan agreements.

Pledge Over Receivables dated November 7, 2012 and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l. as pledgor and the Collateral Agent, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) III S.à r.l. towards SIG Combibloc Holding GmbH.

Share Pledge Agreement dated as of 14 June 2013 and entered into between Beverage Packaging Holdings (Luxembourg) III S.à r.l. as pledgor and the Collateral Agent, such pledge being granted over the shares held by Beverage Packaging Holdings (Luxembourg) III S.à r.l. in the share capital of Beverage Packaging Holdings (Luxembourg) VI S.à r.l.
in its capacity as Collateral Agent.

Share Pledge Agreement dated as of 20 December 2012 and entered into between Beverage Packaging Holdings (Luxembourg) I S.A. as pledgor and the Collateral Agent, such pledge being granted over the shares held by Beverage Packaging Holdings (Luxembourg) I S.A. in the share capital of Beverage Packaging Holdings (Luxembourg) V S.A.
in its capacity as Collateral Agent.

Pledge Over CPECs Agreement, dated as of 7 November 2012 and entered into between Beverage Packaging Holdings (Luxembourg) IV S.à r.l. as pledgor and the Collateral Agent

Pledge Over Receivables dated November 7, 2012 and entered into between Beverage Packaging Holdings (Luxembourg) IV S.à r.l. as pledgor and the Collateral Agent, such pledge being granted over certain receivables held by Beverage Packaging Holdings (Luxembourg) IV S.à r.l. towards Beverage Packaging Factoring (Luxembourg) S.à r.l.

Pledge Over Bank Accounts dated December 20, 2012 and entered into between Beverage Packaging Holdings (Luxembourg) V S.A. as pledgor and the Collateral Agent, over certain bank accounts opened with the Account Bank (as defined therein)

Pledge Over Bank Accounts dated June 14, 2013 and entered into between Beverage Packaging Holdings (Luxembourg) VI S.à r.l. as pledgor and the Collateral Agent, over certain bank accounts opened with the Account Bank (as defined therein)

	“Secured Obligations”

	NEW ZEALAND
	General Security Deed (first ranking) dated November 5, 2009 between Reynolds Group Holdings Limited as Chargor and The Bank of New York Mellon in its capacity as Collateral Agent.

Specific Security Deed (first ranking) dated November 5, 2009 between Reynolds Group Holdings Limited as Chargor and The Bank of New York Mellon in its capacity as Collateral Agent.

Specific Security Deed dated 21 June 2013 between Beverage Packaging Holdings (Luxembourg) I S.A as Chargor and The Bank of New York Mellon in its capacity as Collateral Agent. 

	“Secured Liabilities”

	UNITED KINGDOM
	Security Over Cash Agreement granted by Reynolds Consumer Products Inc. (formerly Reynolds Foil Inc.) dated December 19, 2011, in favor of The Bank of New York Mellon in its capacity as Collateral Agent.

Security Over Cash Agreement granted by Reynolds Presto Products Inc. dated March 28, 2012, in favor of The Bank of New York Mellon in its capacity as Collateral Agent.

Security Over Cash Agreement granted by Closure Systems International Inc. dated September 28, 2012, in favor of The Bank of New York Mellon in its capacity as Collateral Agent.

Security Assignment of Contractual Rights entered into by and between The Bank of New York Mellon and Beverage Packaging Holdings (Luxembourg) III S.à r.l relating to loans made to SIG Euro Holding AG & Co KGaA and Closure Systems International B.V., dated December 2, 2009.

Security Assignment of Contractual Rights under a global loan agreement dated November 5, 2009 granted by Beverage Packaging Holdings (Luxembourg) III S.à r.l. in favor of The Bank of New York Mellon as collateral agent dated February 1, 2011. 

Security Over Cash Agreement granted by Beverage Packaging Holdings (Luxembourg) III S.à r.l. dated November 1, 2013, in favor of The Bank of New York Mellon. 

	“Secured Liabilities”

	UNITED STATES
	U.S. Collateral Agreement, dated as of November 5, 2009, among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings Inc., Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., each Subsidiary of Holdings (as defined therein) from time to time party thereto and The Bank of New York Mellon, as Collateral Agent.

Patent Security Agreement dated as of September 1, 2010, among Ultra Pac, Inc., Reynolds Food Packaging LLC, Reynolds Packaging LLC and The Bank of New York Mellon. 

Trademark Security Agreement dated as of September 1, 2010, among Ultra Pac, Inc., Reynolds Food Packaging LLC, Reynolds Packaging LLC and The Bank of New York Mellon.

Copyright Security Agreement dated as of November 16, 2010, among Pactiv Corporation and The Bank of New York Mellon.

Patent Security Agreement dated as of November 16, 2010, among Pactiv Corporation, Newspring Industrial Corp.
Prairie Packaging, Inc., PWP Industries, Inc. and The Bank of New York Mellon.

Trademark Security Agreement dated as of November 16, 2010, among Pactiv Corporation, Newspring Industrial Corp.
Prairie Packaging, Inc., PWP Industries, Inc. and The Bank of New York Mellon.

Patent Security Agreement dated as of May 2, 2011, among Dopaco, Inc. and The Bank of New York Mellon.

Trademark Security Agreement dated as of May 2, 2011, among Dopaco, Inc. and The Bank of New York Mellon

Patent Security Agreement dated as of March 20, 2012, among Graham Packaging Company, L.P. and The Bank of New York Mellon

Patent Security Agreement dated as of March 20, 2012, among Graham Packaging PET Technologies Inc. and The Bank of New York Mellon

Patent Security Agreement dated as of March 20, 2012, among Graham Packaging LC, L.P. and The Bank of New York Mellon

Patent Security Agreement dated as of March 20, 2012, among Graham Packaging Plastic Products Inc. and The Bank of New York Mellon

Trademark Security Agreement dated as of March 20, 2012, among Graham Packaging Company, L.P. and The Bank of New York Mellon

Trademark Security Agreement dated as of March 20, 2012, among Graham Packaging PET Technologies Inc. and The Bank of New York Mellon

Trademark Security Agreement dated as of March 20, 2012, among Graham Packaging LC, L.P. and The Bank of New York Mellon

Trademark Security Agreement dated as of April 9, 2013 among Spirit Foodservice, Inc. and the Bank of New York Mellon

Patent Security Agreement dated as of April 9, 2013 among Spirit Foodservice, Inc. and the Bank of New York Mellon
	“Obligations”

Part II
List of the Reaffirmed Security Documents
Additional Collateral Agent: Wilmington Trust

None

Grantors Reaffirming Guarantees Only

None

Excluded Grantors

	
		
	JURISDICTION
	ENTITY

	AUSTRIA
	1.    SIG Austria Holding GmbH
2.    SIG Combibloc GmbH
3.    SIG Combibloc GmbH & Co. KG

	BRAZIL
	4.    Closure Systems International (Brazil) Sistemas de Vedação Ltda.
5.    SIG Beverages Brasil Ltda
6.    SIG Combibloc do Brasil Ltda

	CANADA
	7.    Evergreen Packaging Canada Limited
8.    Pactiv Canada Inc. 
9.    Reynolds Consumer Products Canada Inc.

	GERMANY
	10.    Closure Systems International Machinery (Germany) GmbH
11.    Omni-Pac Ekco GmbH Verpackungsmittel
12.    Omni-Pac GmbH Verpackungsmittel
13.    Pactiv Deutschland Holdinggesellschaft mbH
14.    Pactiv-Omni Germany Holdings GmbH
15.    SIG Combibloc GmbH
16.    SIG Combibloc Holding GmbH
17.    SIG Combibloc Systems GmbH
18.    SIG Combibloc Zerspanungstechnik GmbH
19.    SIG Euro Holding AG & Co. KGaA
20.    SIG Information Technology GmbH
21.    SIG International Services GmbH
22.    SIG Beteiligungs GmbH 

	MEXICO
	23.    CSI en Ensenada, S. de R.L. de C.V.
24.    CSI en Saltillo, S. de R.L.  de C.V.
25.    CSI Tecniservicio, S. de R.L. de C.V.
26.    Grupo CSI de Mexico, S. de R.L. de C.V.
27.    Reynolds Metals Company de Mexico, S. de R.L. de C.V.
28.    Pactiv Foodservice México, S. de R.L. de C.V. 
29.    Grupo Corporativo Jaguar, S.A. de C.V.
30.    Servicios Industriales Jaguar, S.A. de C.V.
31.    Servicio Terrestre Jaguar, S.A. de C.V.
32.    Pactiv Mexico, S. de R.L.  de C.V.

	THE NETHERLANDS
	33.    Closure Systems International B.V.
34.    Evergreen Packaging International B.V.
35.    Reynolds Packaging International B.V.

	NEW ZEALAND
	36.    Whakatane Mill Limited

	SWITZERLAND
	37.    SIG allCap AG
38.    SIG Combibloc Group AG  
39.    SIG Combibloc Procurement AG
40.    SIG Combibloc (Schweiz) AG
41.    SIG Schweizerische Industrie-Gesellschaft AG   
42.    SIG Technology AG

	THAILAND
	43.    SIG Combibloc Ltd.

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