Document:

exv4w141

EXHIBIT 4.141

Dr. Bókai
Judit közjegyző

Budapest, II. ker. Kapás u. 31., V. em. 43.

Postacím: 1277 Budapest, Pf. 86.

Tel: 201-5083, 212-4265, Fax: 212-4275

Honlap: www.bokai.hu

English licence No. 2/2008.

Deed Number: 11015/Ü/94/2010.

Certified Office Copy

NOTARIAL DEED

Before me,
Dr. Vető Péter Notary substitute, acting for Dr. Judit Bókai, a Notary of Budapest, the
following Parties appeared at the Notary’s office (1027 Budapest, Kapás utca 31. V/43.) at the date
below:

	(1)	 	Closure Systems International Holdings (Hungary)
Vagyonkezelő Korlátolt Felelősségű
Társaság, a limited liability company incorporated under the laws of Hungary, having its
registered seat as at the date of this Agreement at Berényi út 72-100., 8000
Székesfehérvár, Hungary, registered under registration number: Cg.07-09-015084, as chargor
under this Agreement (hereinafter referred to as the “Chargor”, “Depositor”, “Hungarian
Company”);
	 
	 	 	represented by
	 
	 	 	Dr. Horvai-Hillenbrand Péter (born in: Budapest, 17. August 1979., mother’s maiden name:
Fekete Gabriella), residing at 1124 Budapest, Vércse u. 6. II/2., who established his
identity by his identity card number 940137 CA and his attorney’s certificate number
A/8158, lot number 17883 who established by a power of attorney that he is legally entitled
to execute this document alone and to undertake the obligations contained in this
Agreement, and
	 
	(2)	 	Wilmington Trust (London) Limited, registered seat at 6 Broad Street Place, London
EC2M 7JH United Kingdom, registration number: 05650152, acting as chargee under this
Agreement, in its capacity as collateral agent, acting on behalf and for the benefit of
the Secured Parties (as defined below), as appointed under the First Lien Intercreditor
Agreement (as defined below) and authorised to represent their joint and several rights in
connection with this Agreement (hereinafter, with its successors, permitted transferees
and permitted assigns in such capacity, referred to as the “Collateral Agent” or the
“Chargee”;
	 
	 	 	represented by
	 
	 	 	Dr. Pelikán Melinda (born in: Budapest, 21. December 1976, mother’s maiden name: Németh
Erzsébet), residing at 1077 Budapest, Rejtő Jenő u. 6., who established her identity by her
identity card number 330193 DA and who established by a power of attorney that she is
legally entitled to execute this document alone and to undertake the obligations contained
in this Agreement,
	 
		 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party”
means any of them, as the context may require.
	 
	 	 	The representatives of the Parties declared, with full knowledge of their potential
criminal responsibility and liability, that the Party represented by them has been

 

 

	 	 	properly
established and is currently existing and that they, as representatives with signing
authority pursuant to the above, are authorised to make the declarations necessary for
inclusion in the present notarial deed in the name of the Party which they represent.
	 
	 	 	The Notary substitute in advance informed the concerned Parties of the purpose and method
of, and the personal data affected by the procedure of identity-control; the obligation of
the Notary to refuse notarial involvement, and the duty of notification thereof prescribed
in Section 122 (8) of Act XLI. of 1991. on public notaries; and furthermore, about the
procedure of handling the personal data thus obtained.
	 
	 	 	who requested that I incorporate into a notarial deed the following:

CHARGE AND SECURITY DEPOSIT OVER BANK ACCOUNTS AGREEMENT

(BANKSZÁMLA-KÖVETELÉSEN
ALAPÍTOTT ZÁLOG- ÉS ÓVADÉKI SZERZŐDÉS)

WHEREAS

	(A)	 	Pursuant to the Loan Documents (as defined below) the Chargor was requested to provide
security to the Chargee for the Obligations under the Loan Documents (each as defined below).
	 
	(B)	 	The Parties have agreed to enter into this Agreement to create a security interest over the
Accounts (as defined below) in accordance with and subject to the terms and conditions as set
out herein.
	 
	(C)	 	The Secured Parties (as defined below) have duly authorised and empowered the Chargee to
enter into this Agreement and to represent their joint and several rights in connection with
the security interest over the Accounts, acting for its own and for the Secured Parties’
benefit.

NOW IT IS HEREBY AGREED AS FOLLOWS:

	1.	 	INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in the
First Lien Intercreditor Agreement has the same meaning in this Agreement and in any notice
given under this Agreement.
	 
	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the banks with whom the Accounts listed in Schedule 1 (List of Bank
Accounts) of this Agreement are held, and “Account Bank” means any of them.
	 
	 	 	“Accounts” means together the Hungarian bank accounts of the Hungarian Company listed
in Schedule 1 (List of Bank Accounts) of this Agreement, and “Account” means any of them.

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	 	 	“Agreed Security Principles” has the meaning it is given in the Credit Agreement and the
Senior Secured Note Indenture and, to the extent of any inconsistency, the meaning it is
given in the Credit Agreement shall prevail.
	 
	 	 	“Applicable Representative” has the meaning given to that term in the First Lien
Intercreditor Agreement.
	 
	 	 	“Authorisation to Act on a Prompt Collection Order” means the authorisation sent to an
Account Bank by the Hungarian Company in a similar form as set out in Schedule 3 (Form of
Authorisation to Act on a Prompt Collection Order) or in a form acceptable to the Collateral
Agent, in accordance with Decree No. 18/2009. of the National Bank of Hungary on Money
Circulation.
	 
	 	 	“Business Day” means a day (other than Saturday or Sunday) on which banks are open for
business in New York, London and Budapest.
	 
	 	 	“Charge” has the meaning given to such term in Clause 2.1.
	 
	 	 	“Civil Code” means Act IV of 1959 (as amended) on the Civil Code of the Republic of Hungary.
	 
	 	 	“Collateral” means all rights and interests in respect of all amounts at any time held on
the Accounts.
	 
	 	 	“Court Enforcement Act” means Act LIII of 1994 on Judicial Execution.
	 
	 	 	“Credit Agreement” means the Credit Agreement dated as of 5 November 2009, among Closure
Systems International B.V., Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.
and SIG Austria Holding GmbH as borrowers, Reynolds Group Holdings Limited, the lenders from
time to time party thereto and Credit Suisse AG (formerly known as Credit Suisse), as
administrative agent, as amended, extended, restructured, renewed, novated, supplemented,
restated, refunded, replaced or modified from time to time, attached as Part I of Schedule 5
(Credit Agreement) to this Agreement.
	 
	 	 	“Enforcement Event ” means the occurrence of an Event of Default which is continuing
unremedied and unwaived and in respect of which a notice has been served in accordance with
Article VII of the Credit Agreement or the equivalent provisions of the other Principal
Finance Documents except that any rights of the Chargee in respect of the preservation of
the assets or the security may be exercised if the Chargee determines that they are required
to be exercised if an Event of Default has occurred and is continuing (i.e. without any
notice).
	 
	 	 	“Event of Default” means an “Event of Default” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated as
of 5 November 2009, among the Collateral Agent, The Bank of New York Mellon, as trustee
under the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse),
as administrative agent under the Credit Agreement, and the

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	 	 	Loan Parties, as amended,
novated, supplemented, restated or modified from time to time (including by the Joinder
Agreement which added the Collateral Agent as a collateral agent under the First Lien
Intercreditor Agreement), attached as Part III of Schedule 5 (First Lien Intercreditor
Agreement) to this Agreement.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent and the Collateral Agent as an
intercreditor agreement, in each case as amended, novated, supplemented, restated, replaced
or modified from time to time.
	 
	 	 	“Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.
	 
	 	 	“Joinder Agreement” means the joinder agreement dated on 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of New York Mellon, Credit Suisse AG and Reynolds
Group Holdings Limited pursuant to which the Collateral Agent is appointed an additional
collateral agent and becomes a party to the First Lien Intercreditor Agreement.
	 
	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).
	 
	 	 	“Notice of Charge over Accounts” means the notice sent to an Account Bank by the Hungarian
Company substantially in a similar form as set out in Schedule 2 (Form of Notice of Charge
over Accounts) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Notice of Enforcement Event” means a notice sent to an Account Bank by the Collateral Agent
substantially in a similar form as set out in Schedule 2 (Form of Notice of Enforcement
Event) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Notice of Security Deposit” means a notice sent to an Account Bank by the Collateral
Agent substantially in a similar form as set out in Schedule 2 (Form of Notice of Security
Deposit) or in a form acceptable to the Collateral Agent.
	 
	 	 	“Obligations” means all present and future obligations and liabilities including Parallel
Debt (whether actual or contingent and whether owed jointly or severally or in any other
capacity whatsoever) of each Loan Party and each grantor of a security interest to the
Secured Parties (or any of them) under each or any of the Loan Documents, together with all
costs, charges and expenses incurred by any Secured Party in connection with the protection,
preservation or enforcement of its respective rights under the Loan Documents or any other
document evidencing or securing any such liabilities.

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	 	 	“Parallel Debt” means the independent obligations of any of the Loan Parties arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to and in the currency of each amount payable by such Loan Party to each of the Secured
Parties under each of the Loan Documents.
	 
	 	 	“Principal Finance Document” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.
	 
	 	 	“Prompt Collection Order” means any prompt collection order (azonnali beszedési megbízás)
sent to an Account Bank by the Collateral Agent substantially in the form set out in
Schedule 3 (Form of Authorisation to act on a Prompt Collection Order) or if such form is
not acceptable to any of the Account Banks, in any form so required.
	 
	 	 	“Prompt Collection Right” means any and all rights of the Collateral Agent, if an
Enforcement Event has occurred, to collect amounts from the Accounts on the basis of a
Prompt Collection Order granted under this Agreement.
	 
	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Secured Principal” has the meaning given to such term in Clause 2.1 of this Agreement.
	 
	 	 	“Senior Secured Note Indenture” means the Indenture dated as of 5 November 2009, among the
Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from
time to time, attached as Part II of Schedule 5 (Senior Secured Note Indenture) to this
Agreement.
	 
	1.2	 	Construction

	 	1.2.1	 	Headings are for convenience of reference only.

1.2.2 Where the context so permits, the singular includes the plural and vice versa.
	 
	 	1.2.3	 	Save where the contrary is indicated, any reference in this Agreement to the
“Chargee”, the “Chargor”, a “Secured Party”, the “Depositor”, the “Hungarian Company”,
the “Collateral Agent”, a “Loan Party” or a “Lender” shall be construed so as to
include its (or their) respective successors, transferees and assignees from time to
time and any successor of such a successor, transferee or assignee in accordance with
its (or their) respective interests.
	 
	 	1.2.4	 	The Parties agree and confirm that any person becoming a transferee of any
rights and obligations of the Collateral Agent under the First Lien Intercreditor
Agreement shall thereupon become entitled to the benefit of the provisions contained
herein as if it had originally been and had been named as a party hereto.
	 
	 	1.2.5	 	References to Clause and Schedule shall, subject to any indication to the
contrary, mean the respective Clause and Schedule of this Agreement.

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	 	1.2.6	 	References to the Credit Agreement, the First Lien Intercreditor Agreement,
the other Loan Documents, this Agreement or any other agreement or document shall,
where applicable, be deemed to be references to such Credit Agreement, the First Lien
Intercreditor Agreement, the other Loan Documents, this Agreement or such other
agreement or document as the same may have been, or may from time to time be, amended,
extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, as persons may accede thereto as a party or withdraw
therefrom as a party in part or in whole or be released thereunder in part or in whole,
and as facilities and financial services are or may from time to time be granted,
extended, prolonged, increased, reduced, cancelled, withdrawn, amended, restated,
supplemented, restructured, refunded, replaced, modified, renewed or novated
thereunder.
	 
	 	1.2.7	 	Any amount will be deemed irrevocably paid in full if it has been paid in
full and there is no evidence such as to give a reasonable belief that any claim will
be brought to revoke such payment.
	 
	 	1.2.8	 	References to any element of the legislation, statute, act, law, regulation
or any provision thereof shall, where applicable, be deemed to be references to that
element of the legislation, as amended or re-enacted.
	 
	 	1.2.9	 	This Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

	2.	 	CHARGE
	 
	2.1	 	Creation of the Charge

	 	2.1.1	 	In order to secure the Obligations up to the maximum amount consisting of:

	 	(i)	 	USD 2,280,000,000 (that is two billion two hundred and eighty million
U.S.$ and EUR 780,000,000 (that is seven hundred and eighty million euro) (the
“Secured Principal”); plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan
Documents); plus all accrued default interest (as calculated in accordance
with Loan Documents); plus any other amounts, monetary obligations,
indemnities, fees, commissions, costs and expenses arising under and payable
in accordance with the terms of the Loan Documents, which amounts, monetary
obligations, indemnities, fees, commissions, costs, expenses, and the costs of
the enforcement of this Agreement shall not exceed an aggregate amount
representing 40% of the aggregate amount of Secured Principal,

	 	 	 	the Chargor hereby grants to the Chargee a first priority charge over the Accounts
and the Collateral in accordance with Sections 267 and 268 of the Civil Code (the
“Charge”).

	 	2.1.2	 	The Chargee hereby accepts such Charge.

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	2.2	 	Nature of the Charge

	 	2.2.1	 	The Charge constituted by, and pursuant to, this Agreement shall:
	 
	 	(a)	 	subject to any Lien permitted by the Loan Documents be a first priority
security over the Accounts and the Collateral; and
	 
	 	(b)	 	to the extent permitted by Hungarian law, be of the nature of “framework
security” (“keretbiztosítéki jellegű”), the maximum amount of which is the sum set out
under Clause 2.1. If the framework security nature of the Charge constituted by this
Agreement is not recognised by a court for any reason, then the Charge shall be deemed
to secure the Obligations.
	 
	 	2.2.2	 	The Charge constituted by this Agreement will come into existence upon the
execution of this Agreement in the form of a notarial deed.

	2.3	 	Prompt Collection Right

	 	2.3.1	 	In order to secure the Obligations (as set out above) and to facilitate the
enforcement of the Charge or the Security Deposit (as applicable) as set out in this
Agreement, the Hungarian Company hereby grants to the Chargee a Prompt Collection Right
in respect of, and over, the Accounts.
	 
	 	2.3.2	 	The Hungarian Company undertakes to deliver to the Account Banks within
twenty (20) Business Days of the execution of this Agreement, (i) a Notice of Charge
over Accounts and (ii) an Authorisation to Act on Prompt Collection Order:

	 	(a)	 	notifying the Account Banks of the establishment of the Prompt
Collection Right and the Charge over the Accounts;
	 
	 	(b)	 	authorising the Account Banks that, after the delivery of a Notice of
Enforcement Event by the Chargee to the Account Banks, they should comply with
any Prompt Collection Order received by it from the Chargee for the withdrawal
of amounts from the Accounts held with them; and
	 
	 	(c)	 	notifying the Account Banks that after the delivery of a Notice of
Enforcement Event by the Chargee to the Account Banks, the Chargee is entitled
to demand the amounts held on the Accounts as set out in Article 268(2) of the
Civil Code, and authorising the Account Banks to comply with such demand.

	 	2.3.3	 	The Hungarian Company shall use its reasonable efforts, for a period of
thirty (30) days after service, to obtain the acknowledgement of receipt of the (i)
Notice of Charge over Accounts and (ii) Authorisation to Act on Prompt Collection Order
by the Account Banks.

	2.4	 	Enforcement of the Charge

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	 	2.4.1	 	The Chargor hereby acknowledges that if an Enforcement Event has occurred,
the Chargee becomes immediately entitled to enforce the Charge as set out in Clauses
2.4.2 to 2.4.4 below.
	 
	 	2.4.2	 	If the Chargee becomes entitled to enforce the Charge and the Prompt
Collection Right pursuant to Clause 2.4.1, the Chargee shall notify the Account Banks
about the occurrence of an Enforcement Event in the Notice of Enforcement Event and the
Charge may be enforced, upon the decision of the Chargee made in its absolute
discretion, by

	 	(a)	 	exercising the Prompt Collection Right by issuing and delivering a
Prompt Collection Order to the Account Banks; or
	 
	 	(b)	 	demanding the amounts held on an Account from any of the Account
Banks in accordance with Article 268(2) of the Civil Code; or
	 
	 	(c)	 	court enforcement proceedings (as set out in Article 255(1) of the
Civil Code).

	 	2.4.3	 	The Chargor shall, upon the request of the Chargee upon the exercise of the
rights of the Chargee under Clause 2.4.1 above, deliver any document relating to the
Accounts and/or the Collateral, which is required by the Chargee for the purposes of
exercising its rights under Clause 2.4 of this Agreement.
	 
	 	2.4.4	 	The Chargee shall utilise the proceeds received under this Clause 2.4 and
shall return the surplus amounts, if any, in accordance with the provisions of the
First Lien Intercreditor Agreement.

	3.	 	SECURITY DEPOSIT

	3.1	 	Subject to Clause 3.2 and in order to secure the Obligations, the maximum aggregate
amount of:

	 	(i)	 	the Secured Principal; plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan
Documents); plus all accrued default interest (as calculated in accordance
with Loan Documents); plus any other amounts, monetary obligations,
indemnities, fees, commissions, costs and expenses arising under and payable
in accordance with terms of the Loan Documents, which amounts, monetary
obligations, indemnities, fees, commissions, costs, expenses, and the costs of
the enforcement of this Agreement shall not exceed an aggregate amount
representing 40% of the aggregate amount of Secured Principal,

	 	 	the Depositor hereby creates a security deposit (in Hungarian “óvadék”) over the entire
balance (from time to time) of the Accounts in accordance with Sections 270 and 271 of the
Civil Code in favour of the Collateral Agent (the “Security Deposit”).

	3.2	 	The Security Deposit shall be perfected if an Enforcement Event has occurred in
accordance with Clause 3.3 below.

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	3.3	 	If an Enforcement Event has occurred, the Collateral Agent shall be entitled to
perfect the Security Deposit created hereunder, in a way that dispatches a Notice of Security
Deposit in which it instructs the Account Banks to block the Accounts in part or in whole
which blocking of the Accounts shall be considered as a hand over of the Collateral (in
Hungarian “átadás”) in respect of the Account blocked, to the Collateral Agent within the
meaning of Section 270 (2) of the Civil Code (the “Perfection of the Security Deposit”).
	 
	3.4	 	Following the Perfection of the Security Deposit set out in Clause 3.3 above, the
Collateral Agent becomes entitled to directly — i.e. without judicial execution — satisfy
the Obligations from the Security Deposit in accordance with the provisions of the Hungarian
law. By blocking the Accounts by the Account Banks pursuant to Clause 3.3 above, the Account
Banks shall restrict the disposal right (in Hungarian “rendelkezési jog”) of the Depositor
over the Accounts. The Security Deposit shall cover any and all rights, title and interests in
and to, and the balance of Accounts, including accrued interest and any further amount (in
Hungarian “kamatai, hasznai, gyümölcse”) accrued, existing and recorded from time to time on
the Accounts and all amounts credited thereto at any particular time.
	 
	3.5	 	The Charge terminates if, after an Enforcement Event has occurred, the Collateral
Agent decides, in accordance with its right stipulated in the present Agreement, to declare
the perfection of the Security Deposit by the delivery of a Notice of Security Deposit to the
Account Banks.
	 
	4.	 	DISTINCT RIGHTS
	 
	 	 	The Hungarian Company and the Collateral Agent hereby confirm and agree that:
	 
	4.1	 	the Charge and the Security Deposit are separate and distinct rights granted or
created hereunder; and
	 
	4.2	 	the exercise of remedies under the Charge and the effectiveness of the Security
Deposit are mutually exclusive.
	 
	5.	 	NATURE OF THE SECURITY INTEREST
	 
	5.1	 	The Charge and the Security Deposit (together, the “Security Interest”) constituted by,
and pursuant to, this Agreement shall:
	 
	5.2	 	be a continuing security for the payment, satisfaction and discharge in full of the
Obligations and shall not be considered as satisfied or discharged or prejudiced by any
intermediate payment, satisfaction or settlement of any part of the Obligations unless and
until discharged by the Chargee;
	 
	5.3	 	be in addition to and shall not operate so as in any way to prejudice or affect or be
prejudiced or affected by any security, encumbrance, guarantee, suretyship, indemnity or other
right or remedy which the Collateral Agent or any other Secured Party (or any person on their
behalf) may now or at any time hereafter hold for or in respect of the Obligations or any part
thereof; and

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	5.4	 	not be prejudiced by any time or indulgence granted to any person, or any abstention
or delay by the Collateral Agent or any other Secured Party (or any person on their behalf) in
perfecting or enforcing any security, encumbrance, guarantee, suretyship, right or remedy that
the Collateral Agent or any other Secured Party (or any person on their behalf) may now or at
any time hereafter have from or against the Loan Parties.
	 
	6.	 	CHARGOR’S RIGHTS
	 
	 	 	Notwithstanding any other provision of this Agreement, at all times unless an
Enforcement Event has occurred, the Hungarian Company is authorised by the Chargee to deal
with the Accounts and the Collateral in any manner and to exercise all of its rights under
and in respect of the Accounts and the Collateral (including the disposal of or closing of
any Account if permitted by the Principal Finance Documents) freely and without restrictions
in accordance with the terms and conditions of the Principal Finance Documents.
	 
	7.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS
	 
	7.1	 	Representations and Warranties
	 
	 	 	In addition and without prejudice to those representations and warranties made by or in
respect of the Hungarian Company herein or in any other Principal Finance Document,
the Hungarian Company hereby represents and warrants that on the date of this Agreement
with reference to the facts and circumstances then existing, and subject to the provisions
of the Principal Finance Documents:

	 	(a)	 	it is the sole owner of the Accounts subject to any Liens permitted by the
Principal Finance Documents, and it has not sold, transferred, encumbered or otherwise
disposed of, nor has it agreed to sell, transfer, encumber or otherwise dispose of, any
or all of its rights in the Collateral to any third person, in each case, other than as
permitted by the Principal Finance Documents or this Agreement; and
	 
	 	(b)	 	the representations and warranties made by the Hungarian Company as Loan Party
in Sections 3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability),
3.06 (No Material Adverse Change), 3.09 (Litigation, Compliance with Laws), 3.10
(Agreements), 3.19 (Security Documents) and 3.22 (Solvency) of the Credit Agreement are
true and accurate as regards the Hungarian Company and this Agreement;
	 
	 	(c)	 	it has not taken any action that would have an adverse effect on the validity
and enforceability of security constituted by this Agreement hereunder, other than as
permitted by the Principal Finance Documents; and
	 
	 	(d)	 	subject to any Liens permitted by the Principal Finance Documents and subject
to the Legal Reservations (as defined in the Credit Agreement), this Agreement
constitutes a first priority Charge and subject to the Perfection of the Security
Deposit a Security Deposit, over the Accounts and the Collateral.

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	7.2	 	Covenants
	 
	 	 	In addition and without prejudice to those covenants, undertakings, commitments and
obligations made by or in respect of the Hungarian Company herein or in any other Loan
Documents, the Hungarian Company hereby covenants that, so long as this Agreement shall be
in force, it shall:

	 	(a)	 	unless otherwise permitted by the Principal Finance Documents, not give a
prompt collection right and not grant any Lien to any third party in respect of the
Accounts;
	 
	 	(b)	 	waive its right to deposit the Collateral with court (in Hungarian “bírói
letétbe helyezés”) in accordance with Section 268 (1) of the Civil Code;
	 
	 	(c)	 	not revoke the Authorisation to Act on a Prompt Collection Order or any other
notices sent or to be sent to the Account Banks pursuant to this Agreement;
	 
	 	(d)	 	not take or omit to take any action the taking or omission of which would
result in the alteration or impairment of any rights of the Collateral Agent under the
Security Interest which would have an adverse effect on the validity and enforceability
of the security hereunder except if such actions or omissions are permitted by the
Principal Finance Documents;
	 
	 	(e)	 	promptly notify the Collateral Agent of any event or circumstance of which the
Hungarian Company is aware which would (i) materially and adversely affect, alter or
impair the Collateral Agent’s rights relating to the validity and enforceability of the
Security Interest under or pursuant to this Agreement, (ii) materially and adversely
affect, alter or impair the Collateral Agent’s rights under or pursuant to this
Agreement in relation to the filing of a petition for the bankruptcy
(“csődeljárás”) or
insolvency (“felszámolási eljárás”) of the Hungarian Company, the initiation of an
execution in respect of the Accounts in accordance with the Court Enforcement Act or
similar laws applicable in other jurisdictions, the termination of the Hungarian
Company ’s commercial activities or the winding up of the Hungarian Company (unless the
termination of the Hungarian Company’s commercial activities or the winding up of the
Hungarian Company is permitted by the Principal Finance Documents); and
	 
	 	(f)	 	unless otherwise permitted by the Principal Finance Documents and subject to
the Agreed Security Principles, ensure that the Security Interest, subject to any Lien
permitted by the Principal Finance Documents, is a first priority security interest
over the Collateral and the Accounts.

	8.	 	COLLATERAL AGENT’S RIGHTS
	 
	8.1	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to
act on the instructions of the Applicable Representative in accordance with clause 2.02(a)(i)
of the First Lien Intercreditor Agreement. It is further acknowledged that the Collateral
Agent may assume that any and all instructions received by it from the Applicable
Representative under this Agreement are reasonable, and that any question as

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	 	 	to the
reasonableness or otherwise of such instructions shall be determined as between the Applicable
Representative and the Hungarian Company.
	 
	8.2	 	The Hungarian Company acknowledges and agrees that the Collateral Agent’s actions
under this Agreement are on the basis of authority conferred under the Principal Finance
Documents to which the Collateral Agent is a party, and on directions of the Applicable
Representative. In so acting, the Collateral Agent shall have the protections, immunities,
rights, indemnities and benefits conferred on a collateral agent under the Principal Finance
Documents.
	 
	8.3	 	The powers conferred by this Agreement on the Collateral Agent in relation to the
Accounts and the Collateral shall be in addition to and not in substitution for the rights
conferred on the Collateral Agent by applicable law except insofar as they are excluded by
this Agreement and, where there is any ambiguity or conflict between the rights contained in
any such applicable law and those conferred by this Agreement, then the terms of this
Agreement shall prevail to the extent permitted by such law.
	 
	8.4	 	The Collateral Agent will be entitled, subject to the Agreed Security Principles, the
terms of the Principal Finance Documents, this Agreement and the reasonable instructions of
the Applicable Representative, at any time to take any such action permitted under the
relevant laws as it in their/its discretion thinks fit for the purpose of protecting the
Security Interest constituted by this Agreement.
	 
	8.5	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement, the Collateral
Agent may, at any time and from time to time, delegate by power of attorney to any person all
or any of the rights conferred on it by this Agreement which are for the time being
exercisable by the Collateral Agent hereunder in relation to the Accounts and the Collateral
or any part thereof and the Collateral Agent shall inform the Hungarian Company of such a
delegation or appointment of a delegate.
	 
	8.6	 	The Collateral Agent does not need, before it exercises any of the rights conferred
upon it by this Agreement or by law, to (i) initiate proceedings or obtain a judgement against
the Hungarian Company or any other person in any court; (ii) make or file a claim in a
bankruptcy or liquidation with respect to the Hungarian Company or any other person; or (iii)
enforce any of its rights in respect of any part of the Obligations, except as expressly
required by Hungarian law from time to time.
	 
	9.	 	GENERAL PROVISIONS
	 
	9.1	 	Separate Agreements
	 
	 	 	This Agreement shall be construed so as to constitute a separate security agreement between
the Collateral Agent on the one hand and the Hungarian Company on the other hand and if such
separate agreement between the Hungarian Company and the Collateral Agent becomes invalid or
unenforceable, is terminated, rescinded, released, void, voidable, amended, restated,
renewed, novated, supplemented or otherwise affected, the obligations of the Hungarian
Company are satisfied or any of the rights of Collateral Agent created thereby is
ineffective, the foregoing shall, to the fullest extent permitted by

-12-

 

	 	 	law, not affect the
validity or enforceability of any of the other agreements between the Hungarian Company on
the one hand and the Collateral Agent on the other hand.
	 
	9.2	 	Immediate Recourse
	 
	 	 	To the fullest extent allowed by applicable law the Hungarian Company waives any right it
may have of first requiring the Collateral Agent to proceed against or claim payment from
any other person or entity or enforce any guarantee, suretyship or security granted by any
other person or entity with respect to the Obligations before enforcing this Agreement
and/or its rights hereunder or pursuant hereto.

	9.3	 	Certificates

	 	(a)	 	A certificate (including but not limited to the Declaration) signed by any
duly authorised officer of the Chargee setting forth any amount due to the Secured
Parties from either of the Hungarian Company and/or the Loan Parties in respect of any
part of the Obligations as well as the occurrence of an Event of Default which is
continuing shall be prima facie evidence of such amount against the Loan Parties and
the Hungarian Company except in case of manifest error or fraud on the part of the
Chargee.
	 
	 	(b)	 	The Hungarian Company hereby acknowledges that after the occurrence of an
Event of Default which is continuing the Chargee shall be entitled to incorporate such
certificate, setting out the outstanding amount of all or any part of the Obligations
in a notarial certificate (in Hungarian: “ténytanúsítvány”/“ténytanúsító okirat”), the
costs of which are to be borne in accordance with the Principal Finance Documents. The
Hungarian Company accepts any notarial certificate issued according to this Clause as
prima facie evidence except in case of manifest error or fraud on the part of the
Chargee.

	9.4	 	Discharge
	 
	 	 	Where any discharge (whether in respect of this Agreement, or other Security Document for
the Obligations or otherwise) is made in whole or in part or any arrangement is made on the
faith of any payment, security or other disposition which is subsequently avoided or must be
restored on bankruptcy (csődeljárás), insolvency (felszámolási eljárás) or otherwise without
limitation, the liability of the Hungarian Company under this Agreement and the rights of
the Collateral Agent created hereby and pursuant hereto shall continue as if there had been
no discharge or arrangement. The Collateral Agent shall be under no obligation to challenge,
contest or otherwise take any steps to remedy any avoidance of any payment, security or
other disposition or the restoration thereof by any liquidator, receiver or similar officer
on bankruptcy, insolvency or otherwise.
	 
	10.	 	REMEDIES AND WAIVERS
	 
	 	 	No failure on the part of the Collateral Agent to exercise, and no delay on its part in
exercising, any right or remedy under this Agreement will operate as a waiver thereof, nor
will any single or partial exercise of any right or remedy preclude any other or further
exercise thereof or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or

-13-

 

	 	 	remedies
provided by applicable law, the Credit Agreement or any other Loan Documents.
	 
	11.	 	SEVERABILITY
	 
	 	 	If any of the terms hereof is or becomes invalid or unenforceable (or the security
purported to be created hereunder or pursuant hereto are ineffective) for any reason under
the laws of any jurisdiction or in relation to the Hungarian Company, such invalidity or
unenforceability shall, to the fullest extent possible under applicable law, not affect its
validity or enforceability in any other jurisdiction or invalidate or make unenforceable any
other term hereof. The Parties hereto agree that they will negotiate in good faith to
replace any provision hereof held invalid, illegal or unenforceable with a valid, legal and
enforceable provision which is as similar as possible in substance to the invalid, illegal
or unenforceable provision.
	 
	12.	 	ATTORNEY
	 
	 	 	To the fullest extent permitted by applicable law, the Hungarian Company hereby
appoints the Chargee, such appointment being made for the benefit of the Chargee and the
other Secured Parties represented by the Chargee and shall be effective if an Enforcement
Event has occurred to be its true and lawful attorney (with full power of
substitution and delegation) for and on behalf of the Hungarian Company and in its name
or in the name of the Chargee and as the Hungarian Company’s attorney in act and deed to
sign, execute, seal, deliver, acknowledge, file, register and perfect any and all such
assurances, documents, instruments, agreements (including any agreements to which the
Chargee itself is a party) certificates and consents and to do any and all such acts and
things as the Hungarian Company itself could do in relation to the Charged Assets or in
relation to any matters dealt with in this Agreement and which the Chargee may, (upon the
reasonable instruction of the Applicable Representative), deem to be necessary in order to
give full effect to the purposes of this Agreement. The Hungarian Company will ratify and
confirm whatever the Chargee shall do or cause to be done in pursuance of the powers
conferred to it hereunder. For the avoidance of any doubt, this Clause constitutes the
express consent of the Hungarian Company to the appointment of the Collateral Agent as its
representative for the purposes of Article 221 (3) of the Civil Code except that the
Collateral Agent shall not be entitled to conclude or amend any agreement between the
Hungarian Company and any of the Secured Parties or to waive any rights of the Hungarian
Company against any of the Secured Parties.
	 
	13.	 	TERMINATION
	 
	13.1	 	The security constituted by this Agreement shall be released, re-assigned,
re-transferred and cancelled (as applicable):

	 	(a)	 	by the Collateral Agent at the request and cost of the Hungarian Company, upon
the Obligations being irrevocably paid or discharged in full and none of the Secured
Parties being under any further actual or contingent obligation to make advances or
provide other financial accommodation to the Hungarian Company or any other person
under any of the Loan Documents; or

-14-

 

	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor
Arrangements.

	13.2	 	Upon termination of this Agreement and subject to Clause 13.1, the Collateral Agent
shall promptly (but in any event within fifteen (15) days), at the cost of the Hungarian
Company, issue all certificates or other documents and sign all other documents and do all
such acts as are required by law or requested by the Hungarian Company in order that this
Agreement will be terminated.
	 
	13.3	 	If the Chargor disposes or closes of any of the Accounts and that disposal or
closing is permitted by the Principal Finance Documents, that Account shall (to the extent
necessary), unless an Enforcement Event has occurred, be: (a) automatically released,
re-assigned, re-transferred and cancelled (as applicable) from the Charge constituted by this
Agreement with effect from the day of such disposal or closing or (b) released, re-assigned,
re-transferred and cancelled (as applicable) in accordance with and to the extent required by,
the Intercreditor Arrangements.
	 
	13.4	 	Upon the Chargor disposing or closing of any of the Accounts (which disposal or
closing is permitted by the Principal Finance Documents), the Chargee shall promptly (but in
any event within fifteen (15) days) at the cost of the Chargor, issue all certificates or
other documents and sign all other documents and do all such acts as are required by law or
requested by the Chargor in order to release the relevant Accounts from the Charge constituted
by this Agreement.
	 
	14.	 	POWER TO ASSIGN
	 
	 	 	To the fullest extent permitted under the laws of Hungary and subject to the terms of
the Loan Documents, only the Collateral Agent (but not, for the avoidance of doubt, the
Hungarian Company, unless otherwise permitted by the Principal Finance Documents) shall be
entitled to assign and/or transfer all or part of its rights and obligations under this
Agreement to a replacement Collateral Agent appointed in accordance with the Principal
Finance Documents and the Hungarian Company hereby in advance gives its irrevocable consent
to, within the meaning of Sections 328-331 of the Civil Code, and hereby in advance
irrevocably co-operates with any such assignment and/or transfer (as the case may be)
hereunder.
	 
	15.	 	NOTICES
	 
	 	 	Each notice or other communication to be given or made by a Party under this Agreement
shall be given or made in accordance with the First Lien Intercreditor Agreement.
	 
	16.	 	GOVERNING LAW
	 
	 	 	This Agreement and all non-contractual obligations arising from or connected with it
are governed by, and construed in accordance with, Hungarian law.
	 
	17.	 	JURISDICTION
	 
	 	 	The Parties agree that any dispute arising out of or in connection with this Agreement
(including a dispute regarding the existence, validity or termination of this Agreement or

-15-

 

	 	 	the consequences of its nullity) (“Dispute”) shall be referred to a Hungarian court in
accordance with the provisions of Act III of 1952 on the code of civil procedure.
	 
	18.	 	LANGUAGE
	 
	 	 	This Agreement shall be executed in English language only. This Agreement may be
translated into Hungarian but in the event of any ambiguity or conflict between the two
versions, the English version shall prevail to the extent permitted by law.
	 
	19.	 	AMENDMENTS
	 
	19.1	 	This Agreement may be amended only by a written instrument executed by the Parties in
the form of a notarial deed.
	 
	19.2	 	With consideration to the forthcoming potential enactment of a new Hungarian civil
code, the Hungarian Company hereby undertakes that, subject to the Agreed Security Principles,
upon the request of the Collateral Agent:

	 	19.2.1	 	it shall agree to an amendment and restatement of this Agreement following
the entry into force of such a new civil code, in order to reflect the provisions
thereof, to the extent such amendment is necessary to preserve the Charge or to clarify
the security position of the Collateral Agent; and
	 
	 	19.2.2	 	it shall enter into good faith negotiations on the amendment and restatement
terms of this Agreement, in order to reflect the provisions of the new civil code,
other than those which are referred to in Clause 19.2.1 above.

I, the undersigned, Notary substitute having verified the identity, authorisation and contractual
intentions of the Parties and their representatives to enter into this deed, have prepared the
present deed on the basis of the written draft put at my disposal. I have informed the legal
representatives of the parties of the substance of the transaction contemplated hereby and of its
legal consequences. The legal representatives of the parties declared before me that they are fully
aware of the content of the present deed’s draft and confirmed that the content of the present deed
is in full compliance with the contractual intentions of the Parties represented by them and
therefore they requested me not to read the deed out in their presence. Now therefore, the Parties
have executed this deed in my presence through the signatures of their duly authorised legal
representatives.

Executed at the City of Budapest, on the 29th (twentyninth) day of January 2010 (Two
Thousand Ten).

Dr. Horvai-Hillenbrand Péter s.m. Closure Systems International Holdings (Hungary) Vagyonkezelő
Korlátolt Felelősségű Társaság, Dr. Pelikán Melinda s.m. Wilmington Trust (London) Limited, Dr.
Vető Péter s.m. Notary Substitute, Countersigned: Dr. Stagel Judit s.m. Notary, as permanent
substitute for Dr. Bókai Judit Notary

-16-

 

SCHEDULE 1

ACCOUNTS 

	 	 	 	 	 
	No.	 	Account Bank	 	Account
	1.
	 	UniCredit Bank

Szabadsag ter 5-6.

H-1054 Budapest

Hungary
	 	IBAN HU [_____________________]

SWIFT: BACXHUHB

Currency: HUF

Type of account: current account

-17-

 

SCHEDULE 2

FORM OF NOTICE OF CHARGE OVER BANK ACCOUNTS

	 	 	 
	 	 	BANKSZÁMLA-KÖVETELÉSEN ALAPÍTOTT
	NOTICE OF CHARGE OVER BANK	 	ZÁLOGJOGRÓL SZÓLÓ
	ACCOUNTS	 	ÉRTESÍTÉS
	 
	 	 
	To: [Account Bank] (address:[*]) as Account Bank (hereinafter: the “Account
Bank”)

	 	Címzett: [Számlavezető Bank]
(székhely:[*]) mint számlavezető bank
(továbbiakban: a “Számlavezető Bank”)
	 
	 	 
	Subject: Notice on charge

	 	Tárgy: Értesítés zálogjog alapításról
	 
	 	 
	Dated: Budapest,                     

	 	Kelt: Budapest,                     
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	With reference to the Charge and Security Deposit over Bank Accounts Agreement
dated ______ 2010 (hereinafter: the “Agreement”),
entered into between us, the
[*] (registered seat: [*], Hungary; Company registration number: [*]) as chargor
(hereinafter: the “Chargor”), and [*], (registered seat: [*], registration
number [*]) as chargee and Collateral Agent (hereinafter, with its successors,
permitted transferees and permitted assigns in such capacity, the “Collateral
Agent ”), we hereby give notice that we have established a charge in favour of
the Collateral Agent over the bank account No.:
                                        
(hereinafter: the “Bank Account”).

	 	Hivatkozással a 2010. _______-án kelt
Bankszámla-követelésen Alapított
Zálog és Óvadéki Szerződésre
(továbbiakban: a “Szerződés”), amely
köztünk, az [*] (székhely: [*],
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
"Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként, átruházottjaként és
engedményesként eljáró valamennyi
személyt is ideértve: a “Biztosítéki
Megbízott”) között jött létre, ezúton
értesítjük Önöket, hogy cégünk a
Biztosítéki Megbízott javára
zálogjogot alapított a [*] számú
bankszámlánk (továbbiakban: a
“Bankszámla”) felett.
	 
	 	 
	Therefore, we request you to kindly acknowledge and register the charge over the
Bank Account, as follows:

	 	Ebből fakadóan kérjük, hogy ismerjék
el és vegyék nyilvántartásba a
Bankszámlán alapított zálogjogot; az
alábbiakban leírtak figyelembe
vételével:
	 
	 	 
	1.   The right of the Chargor to deal with the Bank Account and amounts in
respect of the Bank Account in any manner and to exercise all of its
rights under and in respect of the Bank Account (including the disposal or
closing thereof) shall remain unrestricted until the receipt of
a notice of an Enforcement Event (as defined in the Agreement) which is
continuing

	 	1.   A Zálogkötelezett joga, hogy
rendelkezzen a Bankszámlával és a
Bankszámlához kapcsolódó bármilyen
összeggel minden tekintetben
korlátlan, valamint jogosult
gyakorolni valamennyi Bankszámlához
kapcsolódó jogát (beleértve a
rendelkezési jogot és a Bankszámla
bezárását is) a
Végrehajtási Eseményről (a

-18-

 

	 	 	 

	      (hereinafter: “Notice of Enforcement Event”) by the Account
Bank, sent in accordance with the terms of the Agreement to the address of the Account Bank, and made substantially in the form and substance
attached hereto (hereinafter: “Form of Notice of Enforcement Event”).

	 	      Szerződé szerint meghatározott, angolul:
“Enforcement Event”) szóló, a jelen
Értesítéshez csatolt mintával
(továbbiakban: a “Végrehajtási
Eseményről szóló Értesítés Mintája”)
lényegében megegyező formában és
tartalommal kiállított, Szerződés
rendelkezései szerint a Számlavezető
Bank címére megküldött értesítés
(továbbiakban: a “Végrehajtási
Eseményről szóló Értesítés”)
Számlavezető Bank által történő
kézhezvételéig.

	 
	 	 
	2.   The Collateral Agent upon the delivery of the Notice of Enforcement
Event to the Account Bank is entitled to seek satisfaction from the charge
in accordance with the applicable Hungarian legal norms. Particularly (but
not exclusively), the Collateral Agent will be entitled to enforce any
claim which is already due and arising from any of the claims of the
Secured Parties (as defined in the Agreement), by submitting prompt
collection orders on the basis of the Authorisation to Act on a Prompt
Collection Order (as defined in the Agreement) delivered together with the
present Notice. The Collateral Agent will be entitled to enforce its claim
only once the Account Bank has received the Notice of Enforcement Event
made by the Collateral Agent. We hereby accept your priority right of
satisfaction over the Bank Account vis-à-vis to the charge established in
our favour and our prompt collection rights concerning your matured claims
deriving from your banking services rendered.

	 	2.   A Biztosítéki Megbízott
Végrehajtási Esemény bekövetkezésének
a Számlavezető Banknál történt
bejelentése után a hatályos magyar
jogszabályoknak megfelelően jogosult
a zálogjogból kielégítést keresni.
Így különösen, de nem kizárólag a
Biztosítéki Megbízott a jelen
Értesítéssel egyidejűleg megküldött
Felhatalmazó Levél (a Szerződés
szerint meghatározott, angolul: “Authorisation to Act on a Prompt
Collection Order”) alapján azonnali
beszedés útján is végrehajthatja a
Biztosított Felek (a Szerződés
szerint meghatározott, angolul: “Secured Parties”) bármely igényéből
eredő bármely esedékessé vált
követelést, de csak azt követően,
hogy a Számlavezető Bank megkapta a
Biztosítéki Megbízottnak a
Végrehajtási Eseményről szóló
Értesítését. Az Önök Bankszámlára
vonatkozó kielégítési elsőbbségét
elfogadjuk a jelzálogjogunkkal és az
azonnali beszedési megbízás
benyújtására vonatkozó jogunkkal
szemben, az Önök
bankszolgáltatásaiból eredő

-19-

 

	 	 	 
	 

	 	esedékes
követeléseik tekintetében.

	 
	 	 
	3.   The charge over the Bank Account terminates if, while an Enforcement
Event has occurred under the Agreement, the Collateral Agent elects, in
accordance with its right stipulated in the Agreement, to declare the
Perfection of Security Deposit (as defined in the Agreement) over the Bank
Account by delivering a notice to the Account Bank, (hereinafter: “Notice
of Security Deposit”) incorporated in a notarial deed in Hungary and made
in the form and substance attached hereto (hereinafter: “Form of Notice of
Security Deposit”).

	 	3.   A Bankszámlán fennálló zálogjog
megszűnik, amennyiben a Szerződés
szerinti Végrehajtási Esemény
bekövetkezése esetén a Biztosítéki
Megbízott él a Szerződésben
biztosított jogával, és a jelen
Értesítéshez csatolt mintával
(továbbiakban: az “Óvadéki Értesítés
Mintája”) lényegében megegyező
formában és tartalommal kiállított,
Magyarországon közokiratba foglalt
értesítés (továbbiakban: az “Óvadéki
Értesítés”) Számlavezető Banknak
történő megküldésével bejelenti az
Óvadék Létrejöttét (a Szerződés
szerint meghatározott, angolul: “Perfection of the Security Deposit”)
a Bankszámla felett.

	 
	 	 
	4.   We hereby request, after the Account Bank has received a Form of Notice
of Enforcement Event or a Form of Notice of Security Deposit, the Account
Bank to disclose to the Collateral Agent any information on the Bank
Account upon its request. Further, we hereby authorise the Account Bank,
after the Account Bank has received a Form of Notice of Enforcement Event
or a Form of Notice of Security Deposit, to disclose to the Collateral
Agent any information on the Bank Account, which qualifies as bank secret
on the basis of Act CXII of 1996 on Credit Institutions and Financial
Enterprises.

	 	4.   Felhívjuk a Számlavezető Bankot,
azt követően, hogy a Végrehajtási
Eseményről szóló Értesítést vagy az
Óvadéki Értesítést átvette, a
Bankszámlára vonatkozó bármely
információt, a Biztosítéki Megbízott
kérésére bocsássa annak
rendelkezésére, és felhatalmazzuk a
Számlavezető Bankot a
Hitelintézetekről és a Pénzügyi
Vállalkozásokról szóló 1996. évi
CXII. törvény alapján banktitoknak
minősülő, a Bankszámlára vonatkozó
bármely információnak a Biztosítéki
Megbízott részére történő
kiszolgáltatására.

	 	 	 

	We request you to kindly acknowledge the receipt of the present Notice by
countersigning and returning to us the Acknowledgment attached

	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés
mellékletét képező Elismervény
aláírásával és részünkre

-20-

 

	 	 	 

	hereto.

	 	való
visszaküldésével ismerjék el.
	 
	 	 
	In case of any discrepancies in the interpretation of the English and the
Hungarian version of this document, the English version shall prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése
esetén az angol nyelvű szöveg az
irányadó.

 

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY) VAGYONKEZELÕ

KORLÁTOLT FELELÕSSÉGÛ TÁRSASÁG

Acting as a Chargor/ mint Zálogkötelezett

	 	 	 
	Schedules:	 	Mellékletek:
	 
	 	 
	•    Form of Notice of Enforcement
Event

	 	•    Végrehajtási Eseményről szóló Értesítés Mintája

	 
	 	 
	•    Form of Notice of Security
Deposit

	 	•    Óvadéki Értesítés Mintája

	 
	 	 
	•    Acknowledgement

	 	•    Elismervény

 -21-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	To: Wilmington Trust (London)
Limited (registered seat: [*],
registration number [*]) as Chargee
or Collateral Agent (hereinafter:
“Collateral Agent”)

	 	Címzett: Wilmington Trust (London) Limited
(székhely: [*], cégjegyzékszáma [*]) mint
zálogjogosult és Biztosítéki Megbízott
(továbbiakban: a “Biztosítéki Megbízott”)

	 
	 	 
	[*]
(registered seat:
[*], Hungary;
Company registration
number: Cg.
[*]) as
Chargor (hereinafter:

	 	[*] (székhely: [*],
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
“Zálogkötelezett”)

	“Chargor”)
	 	 

	 	 	 

	Dated: Budapest,
                    

	 	Kelt: Budapest,                     
	 
	 	 
	The undersigned, on behalf of [*]
(hereinafter: “Bank”), with
reference to the Notice of Charge
and Security Deposit over Bank
Accounts Agreement dated [*] 2010
and delivered to us, we inform you
that the Bank acknowledges and
registers the Charge established
over the bank account number [*]
(hereinafter: “Bank Account”) held
by the Bank.

	 	Alulírottak, a [*]
(továbbiakban: a “Bank”)
képviseletében, hivatkozással a 2010. [*]
napján kelt és részünkre megküldött
Bankszámla-követelésen Alapított Zálog és
Óvadéki Szerződésről szóló értesítésre
tájékoztatjuk, hogy Bankunk a nála vezetett
[*] számú bankszámlán (továbbiakban: a
“Bankszámla”) alapított zálogjogot
jóváhagyólag elismeri és nyilvántartásba
veszi.
	 
	 	 
	Yours sincerely,

	 	Tisztelettel:

 

 

Name/ Név:

Title/ Beosztás:

[ACCOUNT BANK/ SZÁMLAVEZETÕ BANK]

as Account Bank/ mint Számlavezető Bank

-22-

 

FORM OF NOTICE OF ENFORCEMENT EVENT

	 	 	 
	 	 	VÉGREHAJTÁSI
ESEMÉNYRŐL
	NOTICE OF ENFORCEMENT EVENT	 	SZÓLÓ ÉRTESÍTÉS
	 
	To: [Account Bank] (address:[*]) as Account
Bank (hereinafter: the “Account Bank”)

	 	Címzett: [Számlavezető Bank]
(székhely:[*]) mint
számlavezető bank
(továbbiakban: a
“Számlavezető Bank”)

	 
	 	 

	 	 	 

	Subject: Notice of an Enforcement Event

	 	Tárgy: Értesítés Végrehajtási Esemény
bekövetkezéséről

	 
	 	 
	Dated: Budapest,                     

	 	Kelt: Budapest,                     
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	We hereby refer to

	 	Hivatkozunk

	 	 	 

	i.    the Charge and Security Deposit over
Bank Accounts Agreement dated                     
2010 (hereinafter: the “Agreement”),
entered into between the [*] (registered
seat: [*], Hungary; Company registration
number: [*]) as chargor (hereinafter: the
“Chargor”), and [*], (registered seat:
[*], registration number [*]) as chargee
and Collateral Agent (hereinafter together
its successors and permitted assigns in
such capacity: the “Collateral
Agent”) over the bank account
No.: [*] (hereinafter: the “Bank
Account”); and

	 	i.    a 2010. _______-án kelt
Bankszámla-követelésen
Alapított Zálog és Óvadéki
Szerződésre (továbbiakban: a
“Szerződés”), amely az [*]
(székhely: [*],
Magyarország,
cégjegyzékszám: [*]) mint
zálogkötelezett
(továbbiakban: a
“Zálogkötelezett”), és az
[*] (székhely: [*],
cégjegyzékszáma [*]) mint
zálogjogosult és Biztosítéki
Megbízott (továbbiakban,
annak jogutódjaként eljáró
valamely személyt is
ideértve: a “Biztosítéki
Megbízott”) között jött
létre, a [*] számú
bankszámlánk (továbbiakban: a “Bankszámla”) felett;
továbbá

	 
	 	 
	ii.    the Notice of Charge over Bank
Accounts, dated [*], and delivered to
you by the Chargor.

	 	ii.   a [*]-én kelt, és
Önöknek a Zálogkötelezett
által megküldött
Bankszámla-követelésen
Alapított Zálogjogról szóló
Értesítésre.

	 	 	 

	We hereby inform you that an Enforcement
Event has occurred and is continuing under
the Agreement, and as from today, the
Collateral Agent is entitled to seek
satisfaction from the Charge, in accordance
with the applicable Hungarian legal norms.
This instruction shall be valid until
withdrawn in a declaration of the
Collateral Agent, made in the form of a
notarial deed. The Collateral Agent in
particular (but not exclusively) is
entitled to enforce any claim which becomes
due and is

	 	Ezennel értesítjük Önöket a
Szerződés szerinti
Végrehajtási Esemény
bekövetkezéséről, valamint
arról, hogy a mai naptól a
Biztosítéki Megbízott a
hatályos magyar
jogszabályoknak megfelelően
jogosult a zálogjogból
kielégítést keresni,
mindaddig, amíg közokiratba
foglalt nyilatkozattal erről
le nem mond. Így különösen,
de nem kizárólag a
Biztosítéki Megbízott az
Önöknek a Zálogkötelezett
által megküldött
Felhatalmazó Levél (a
Szerződés szerint
meghatározott, angolul: “Authorisation

-23-

 

	 	 	 
	arising from any of the claims
of the Secured Parties (as defined in the
Agreement) by submitting prompt collection
orders on the basis of the Authorisation to
Act on a Prompt Collection Order (as
defined in the Agreement) delivered to you by the Chargor.

	 	to Act on a Prompt Collection Order”)
alapján azonnali beszedés
útján is végrehajthatja a
Biztosított Felek (a
Szerződés szerint
meghatározott, angolul: “Secured Parties”) bármely
igényéből eredő bármely
esedékessé vált követelést.
	 
	 	 
	We hereby accept your priority right of
satisfaction over the Bank Account
vis-à-vis to the Charge established in our
favour and our prompt collection rights
concerning your matured claims deriving
from your banking services rendered.

	 	Az Önök Bankszámlára
vonatkozó kielégítési
elsőbbségét elfogadjuk a
jelzálogjogunkkal és az
azonnali beszedési megbízás
benyújtására vonatkozó
jogunkkal szemben, az Önök
bankszolgáltatásaiból eredő
esedékes követeléseik
tekintetében.
	 
	 	 
	We request you to kindly acknowledge the
receipt of the present Notice by
countersigning and returning to us one copy
thereof.

	 	Kérjük Önöket, hogy a jelen
Értesítés tudomásulvételét
jelen Értesítés egy
példányának aláírásával és
részünkre való
visszaküldésével ismerjék
el.
	 
	 	 
	We declare that the Agreement excluded any
depositing with court (Section 268 (1) of
the Civil Code).

	 	Kijelentjük, hogy a
Szerződés kizárta a bírói
letétbe helyezés lehetőségét
(Ptk. 268. § (1) bek.).
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar
nyelvű változatának eltérő
értelmezése esetén az angol
nyelvű szöveg az irányadó.

 

Name/ Név:

Title/ Beosztás:

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent/ mint Biztosítéki Megbízott

-24-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We hereby acknowledge and confirm
the above Notice of Enforcement
Event and undertake to perform the
obligations contained in the Notice
of Enforcement Event in accordance
with terms set out therein; until it
will be withdrawn by the Collateral
Agent in a declaration incorporated
in a notarial deed.

	 	Elismerjük és jóváhagyjuk a fenti
Végrehajtási Eseményről szóló
Értesítést, és vállaljuk, hogy
Végrehajtási Eseményről szóló
Értesítéssel összhangban teljesítjük
az abban foglalt kötelezettségeket,
mindaddig, amíg a Biztosítéki
Megbízott közokiratba foglalt
nyilatkozatával erről le nem mond.

Dated/ Kelt: Budapest, ________________________

_________________________________________________
_____________________

Name/ Név:

Title/ Beosztás:

[ACCOUNT
BANK/ SZÁMLAVEZETŐ BANK]

as Account Bank/ mint Számlavezető Bank

-25-

 

FORM OF NOTICE OF SECURITY DEPOSIT

	 	 	 
	NOTICE OF SECURITY DEPOSIT	 	ÓVADÉKI ÉRTESÍTÉS
	 
	 	 
	To: [Account Bank] (address:[*]) as
Account Bank (hereinafter: the “Account
Bank”)

	 	Címzett: [Számlavezető Bank]
(székhely:[*]) mint számlavezető bank
(továbbiakban: a “Számlavezető Bank”)

	 	 	 
	Subject: Notice of Security Deposit

	 	Tárgy: Értesítés óvadékról
	 
	 	 
	Dated: Budapest,                     

	 	Kelt: Budapest,                     
	 
	 	 
	Dear Sir/Madam,

	 	Tisztelt Címzett!
	 
	 	 
	We hereby refer to

	 	Hivatkozunk

	 	 	 
	ii.   the Charge and Security
Deposit over Bank Accounts Agreement
dated [*] 2010 (hereinafter: the
“Agreement”), entered into between the
[*] (registered seat: [*], Hungary;
Company registration number: [*]) as
chargor (hereinafter: the “Chargor”),
and [*], (registered seat: [*],
registration number [*]) as chargee and
Collateral Agent (hereinafter together
its successors and permitted assigns in
such capacity: the “Collateral Agent”)
over the bank account No.: [*]
(hereinafter: the “Bank Account”); and

	 	i.    a 2010. [*]-án kelt
Bankszámla-követelésen Alapított Zálog
és Óvadéki Szerződésre (továbbiakban: a
“Szerződés”), amely az [*]
(székhely: [*], Magyarország,
cégjegyzékszám: [*]) mint
zálogkötelezett (továbbiakban: a
“Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként eljáró valamely személyt
is ideértve: a “Biztosítéki Megbízott”)
között jött létre, a [*] számú
bankszámlánk (továbbiakban: a
“Bankszámla)”) felett; továbbá

	 
	 	 
	iii.   the Notice of Charge over
Bank Accounts, dated [*], and delivered
to you by the Chargor

	 	ii.   a [*]-én kelt, és Önöknek a
Zálogkötelezett által megküldött
Bankszámla-követelésen Alapított
Zálogjogról szóló Értesítésre.

	 	 	 
	We hereby inform you that an
Enforcement Event (as defined in the
Agreement) has occurred under the
Agreement, and that the Charge over the
Bank Account terminates as of today and
the provisions of the Agreement on the
Security Deposit shall apply, i.e. the
Security Deposit is created and
perfected over the balance of the Bank
Account available at the Chargor’s free
disposal as of the blocking of the Bank
Account (Perfection of the Security
Deposit).

	 	Ezennel értesítjük Önöket a Szerződés
szerinti Végrehajtási Esemény
bekövetkezéséről, valamint arról, hogy
a mai naptól a Bankszámlán fennálló
zálogjog megszűnik és a Szerződés
Óvadékról (a Szerződés szerint
meghatározott, angolul: “ Security
Deposit”) szóló rendelkezései
alkalmazandóak, azaz a Bankszámlának a
Zálogkötelezett szabad rendelkezése
alatt álló egyenlege felett, annak
zárolásával Óvadék jön létre (a
Szerződés szerint meghatározott,
angolul: “Perfection of the Security
Deposit”).
	 
	 	 
	We
hereby request you to block the
entire balance (available at the
Chargor’s free disposal) as of today
and the entire future balance of the

	 	Ezúton kérjük Önöket, hogy ellenkező
tartalmú, a Zálogkötelezettel közös
rendelkezésünkig zárolják a Bankszámla
mai napon

-26-

 

	 	 	 

	Bank Account as a Security Deposit for
the benefit of the Collateral Agent.
This instruction shall be valid until
withdrawn in a joint declaration of the
Collateral Agent and the Chargor.

	 	(a Zálogkötelezett szabad
rendelkezése alatt) fennálló és a
jövőben beérkező teljes pozitív
egyenlegét mint Óvadékot a Biztosítéki
Megbízott javára.
	 
	 	 
	We hereby accept your priority right of
satisfaction over the Bank Account
vis-à-vis to the security deposit
established in our favour and our
prompt collection rights concerning
your matured claims deriving from your
banking services rendered

	 	Az Önök Bankszámlára vonatkozó
kielégítési elsőbbségét elfogadjuk az
óvadéki jogunkkal és az azonnali
beszedési megbízás benyújtására
vonatkozó jogunkkal szemben, az Önök
bankszolgáltatásaiból eredő esedékes
követeléseik tekintetében.
	 
	 	 
	The Collateral Agent is entitled to
seek satisfaction from the Security
Deposit, in accordance with the
applicable Hungarian laws. The
Collateral Agent in particular (but not
exclusively) is entitled to enforce any
claim, which becomes due and is arising
from any of the claims of the Secured
Parties (as defined in the Agreement),
by submitting prompt collection orders
on the basis of the Authorisation to
Act on a Prompt Collection Order (as
defined in the Agreement) delivered to
you by the Chargor.

	 	A Biztosítéki Megbízott a hatályos
magyar jogszabályoknak megfelelően
jogosult az Óvadékból kielégítést
keresni. Így különösen, de nem
kizárólag a Biztosítéki Megbízott az
Önöknek a Zálogkötelezett által
megküldött Felhatalmazó Levél (a
Szerződés szerint meghatározott,
angolul: “Authorisation to Act on a
Prompt Collection Order”) alapján
azonnali beszedés útján is
végrehajthatja a Biztosított Felek (a
Szerződés szerint meghatározott,
angolul: “Secured Parties”) bármely
igényéből eredő bármely esedékessé vált
követelést.
	 
	 	 
	We hereby request the Account Bank to
disclose to the Collateral Agent any
information on the Bank Account upon
its request. Further, we hereby
authorise the Account Bank to disclose
to the Collateral Agent any information
on the Bank Account, which qualifies as
bank secret on the basis of Act CXII of
1996 on the Credit Institutions and the
Financial Enterprises.

	 	Felhívjuk a Számlavezető Bankot, hogy a
Bankszámlára vonatkozó bármely
információt a Biztosítéki Megbízott
kérésére bocsássa annak rendelkezésére,
és felhatalmazzuk a Számlavezető Bankot
a Hitelintézetekről és a Pénzügyi
Vállalkozásokról szóló 1996. évi CXII.
törvény alapján banktitoknak minősülő a
Bankszámlára vonatkozó bármely
információnak Biztosítéki Megbízott
részére történő kiszolgáltatására.
	 
	 	 
	We request you to kindly acknowledge
the receipt of the present Notice by
countersigning and returning to us one
copy thereof.

	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés egy
példányának aláírásával és részünkre
való visszaküldésével ismerjék el.
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése esetén
az angol nyelvű szöveg az irányadó.

-27-

 

 

Name/ Név:

Title/ Beosztás:

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent/ mint Biztosítéki Megbízott

-28-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We hereby acknowledge and approve
the above Notice of Security Deposit
and undertake to perform the
obligations set out therein, in
particular the followings:

	 	Elismerjük és jóváhagyjuk a fenti
Óvadéki Értesítést, és vállaljuk,
hogy az Óvadéki Értesítéssel
összhangban teljesítjük az abban
foglalt kötelezettségeket, így
különösen a következőket :

	 	 	 

	•   we acknowledge the termination of
the Charge; and

	 	•    tudomásul vesszük a zálogjog
megszűnését; és

	 
	 	 
	•   undertake to block the entire
balance available at the Chargor’s
free disposal as of today and the
entire future balance of the Bank
Account as a security deposit for
the benefit of the Collateral Agent;
until the instruction is withdrawn
in a joint declaration of the
Chargor and the Collateral Agent,
made in the form of a notarial deed.

	 	•    vállaljuk, hogy a Bankszámlának a
Zálogkötelezett szabad rendelkezése
alatt álló teljes jelenlegi és
jövőben beérkező pozitív egyenlegét
óvadékként zároljuk a Biztosítéki
Megbízott javára, a Zálogkötelezett
és a Biztosítéki Megbízott ellenkező
tartalmú, közokiratba foglalt közös
rendelkezéséig.

	 	 	 
	The Bank shall be entitled to
satisfy any of its matured claims
from the Security Deposit deriving
from its banking services rendered.

	 	A Banknak a bankszolgáltatásokból
eredő esedékes követelései a Bank
által az óvadék terhére
kielégíthetők.
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and
the Hungarian version of this
document, the English version shall
prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése
esetén az angol nyelvű szöveg az
irányadó.

Dated/ Kelt: Budapest, ________________________

________________________________________________

Name/ Név:

Title/ Beosztás:

[ACCOUNT BANK/ SZÁMLAVEZETŐ BANK]

as Account Bank/ mint Számlavezető Bank

-29-

 

SCHEDULE 3

FORM OF AUTHORISATION TO ACT ON A

PROMPT COLLECTION ORDER

	 	 	 
	 	 	FELHATALMAZÓ LEVÉL AZONNALI BESZEDÉSI
	AUTHORISATION	 	MEGBÍZÁSRA
	 
	 	 
	To [Account Bank] (address:[*]) as Account
Bank (hereinafter: the “Account Bank”) to
enforce payment instructions for prompt
collection.

	 	A [Számlavezető Bank]-nak
(székhely:[*]) mint számlavezető
banknak (továbbiakban: a
“Számlavezető Bank”), hogy azonnali
beszedési megbízásokat hajtson végre,
az alábbiak szerint:

	 	 	 
	1.    We hereby refer to the Charge and Security
Deposit over Bank Accounts Agreement dated [*]
2010 (hereinafter: the “Agreement”), entered
into between us, the [*] (registered seat:
[*]; Company registration number: [*]) as
chargor (hereinafter: the “Chargor”), and [*],
(registered seat: [*], registration number
[*]) as chargee and Collateral Agent
(hereinafter together its successors and
permitted assigns in such capacity: the
“Collateral Agent ”) over the bank account
No.: [*] (hereinafter: the “Bank Account”).

	 	1.    Hivatkozunk a 2010. [*]-án kelt
Bankszámla-követelésen Alapított
Zálog és Óvadéki Szerződésre
(továbbiakban: a “Szerződés”), amely
köztünk, az [*] (székhely: [*]
Magyarország, cégjegyzékszám: [*])
mint zálogkötelezett (továbbiakban: a
“Zálogkötelezett”), és az [*]
(székhely: [*], cégjegyzékszáma [*])
mint zálogjogosult és Biztosítéki
Megbízott (továbbiakban, annak
jogutódjaként eljáró valamely
személyt is ideértve: a “Biztosítéki
Megbízott”) között jött létre, a [*]
számú bankszámlánk (továbbiakban: a
“Bankszámla”) felett.

	 
	 	 
	2.    In accordance with the applicable Hungarian
laws, the Chargor — by executing of the
present declaration — hereby authorises the
Bank to enforce by prompt collection any of
the claims of the Secured Parties (as defined
in the Agreement) which becomes due, (i) upon
the receipt by the Account Bank of a Notice of Enforcement Event or a Notice of Security
Deposit sent by the Collateral Agent in
accordance with the terms of the Agreement;
and (ii) following the satisfaction of the
privileged prompt collection orders in

	 	2.    A Zálogkötelezett a hatályos
magyar jogszabályoknak megfelelően —
a jelen nyilatkozat aláírásával —
ezennel felhatalmazza a Bankot, hogy
azonnali beszedéssel végrehajtsa a
Biztosított Felek (a Szerződés
szerint meghatározott, angolul: “Secured Parties”) bármely igényéből
eredő bármely esedékessé vált
követelést — azt követően, hogy a
Számlavezető Bank megkapta a
Biztosítéki Megbízottnak a Szerződés
rendelkezései szerint a Végrehajtási
Eseményről szóló Értesítését vagy az 

-30-

 

	 	 	 

	      accordance with the Hungarian law. Under the
present Authorisation a prompt collection
order could be submitted only if a Notice of
Enforcement Event or a Notice of Security
Deposit is attached thereto after an
Enforcement Event (as defined in the
Agreement) has occurred. Attachment of one of
the Notices above (Notice of Enforcement Event
or a Notice of Security Deposit) excludes the
attachment of the other. In the event that no
Notices are attached, or both Notices are
attached thereto, the prompt collection order
shall not be performed on the basis of the
present Authorisation.

	 	      Óvadéki Értesítést a magyar jog
szabályaival összhangban. Jelen
Felhatalmazó Levél alapján kizárólag
abban az esetben nyújtható be
azonnali beszedési megbízás,
amennyiben a Végrehajtási Eseményről
szóló Értesítését vagy az Óvadéki
Értesítést csatolják hozzá egy
Végrehajtási Esemény (a
hitelszerződésben definiálva)
bekövetkezését követően. Bármelyik
fenti (Óvadéki vagy a Végrehajtási
Eseményről szóló) Értesítés csatolása
kizárja a másik Értesítés csatolását,
amennyiben Értesítés csatolásra nem
kerül, vagy mindkét Értesítést
csatolják, úgy a jelen Felhatalmazó
Levél alapján az azonnali beszedési
megbízás nem teljesíthető.

	 
	 	 
	3.   For the above purpose, we authorise the
Account Bank to debit — following the receipt
of a Notice of Enforcement Event or a Notice
of Security Deposit (in the form of a notarial
deed) by the Account Bank from the Collateral
Agent — our account No. [*], and credit to
the [*] of the Collateral Agent, at the time
when the prompt collection order is submitted
by the Collateral Agent.

	 	3.   A fentiek céljából felhatalmazzuk
a Számlavezető Bankot, hogy
megterhelje a [*] számú
bankszámlánkat — azt követően, hogy
a Számlavezető Bank megkapta a
Biztosítéki Megbízott Végrehajtási
Eseményről szóló Értesítését vagy az
Óvadéki Értesítést  — és ezt az
összeget jóváírja a Biztosítéki
Megbízott részére a [*] számú
számlája javára, abban az időpontban,
amikor a Biztosítéki Megbízott a
fizetendő összeg beszedésére azonnali
megbízást ad.

	 
	 	 
	4.   In accordance with section 8 of Decree No.
18/2009 (VIII. 6.) of the National Bank of
Hungary (hereinafter: the “NBH Decree”),
we authorise the Account Bank (i) to keep the
unperformed part of the payment instruction
for prompt collection pending until such
payment instruction shall have been fully
performed — but not longer than for 35 days
— if it cannot be performed due to lack of
funds and inform the Security Trustee
accordingly; and (ii) to the extent of the
amount standing to our credit, to make a
partial

	 	4.   A Magyar Nemzeti Bank elnöke által
kibocsátott 18/2009 (VIII. 6.) számú
rendelet 8. §-ának megfelelően
(továbbiakban: “MNB rendelet”),
felhatalmazzuk a Számlavezető Bankot,
hogy (i) tartsa függőben az azonnali
beszedési megbízásra vonatkozó
fizetési felszólítás teljesítését a
még ki nem fizetett részre
vonatkozóan mindaddig, amíg az
azonnali beszedési megbízást teljes
egészében nem teljesítik — de nem
tovább, mint 35 napra — ha az
pénzügyi fedezet hiánya miatt nem
teljesíthető,

-31-

 

	 	 	 

	      payment on the basis of the payment
instruction for prompt collection relating to
insufficient funds.

	 	     és megfelelően
értesítse erről a Biztosítéki
Megbízottat; valamint (ii) a
fedezethiányos azonnali beszedési
megbízásra vonatkozó fizetési
felszólításra a rendelkezésre álló
fedezet erejéig részfizetést
teljesítsen.

	 
	 	 
	5.   This Authorisation is valid and remains in
full force until withdrawn by us in a
statement countersigned by the Collateral
Agent.

	 	5.   Jelen Felhatalmazó Levél érvényes
és mindaddig hatályban marad, amíg
azt vissza nem vonjuk, egy, a
Biztosítéki Megbízott által is aláírt
nyilatkozatban.

	 
	 	 

	 	 	 

	We request you to kindly acknowledge the
receipt of the present Notice by
countersigning and returning to us one copy
thereof.

	 	Kérjük Önöket, hogy a jelen Értesítés
tudomásulvételét jelen Értesítés egy
példányának aláírásával és részünkre
való visszaküldésével ismerjék el.
	 
	 	 
	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar nyelvű
változatának eltérő értelmezése
esetén az angol nyelvű szöveg az
irányadó.

_________________________________________________

Name/ név:

Title/ beosztás:

For and on behalf of

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY)

VAGYONKEZELÕ KORLÁTOLT FELELÕSSÉGÛ TÁRSASÁG

(acting as a Chargor) / (mint Zálogkötelezett) nevében

	 	 	 
	Schedules:	 	Melléklet:
	 
	 	 
	•    Form of Notice of Enforcement
Event

	 	•    Végrehajtási Eseményről szóló
Értesítés Mintája

	 
	 	 
	•    Form of Notice of Security
Deposit

	 	
•    Óvadéki Értesítés Mintája

-32-

 

	 	 	 
	ACKNOWLEDGEMENT	 	ELISMERVÉNY
	 
	 	 
	We acknowledge and approve the content of
the above Authorisation and, in accordance
with the terms of the Authorisation, we
undertake to perform the obligations
contained therein, with special regard to
the followings:

	 	Elismerjük és jóváhagyjuk a
fenti Felhatalmazó Levél
tartalmát, és vállaljuk, hogy
a Felhatalmazó Levéllel
összhangban teljesítjük az
abban foglalt
kötelezettségeket, különös
tekintettel a következőkre:

	 	 	 

	•    if the prompt collection
order cannot be performed due to lack
of funds, we will treat the payment
instruction for prompt collection as
a pending instruction, but only for a
period of 35 days;

	 	•    ha az azonnali
beszedési megbízást pénzügyi
forrás hiánya miatt nem lehet
teljesíteni, az azonnali
beszedésre vonatkozó fizetési
felszólítást legfeljebb 35
napig függőben tartjuk;

	 
	 	 
	•    we undertake to execute the
payment instruction for prompt
collection in accordance with terms
of the Authorisation to Act on a
Prompt Collection Order (as defined
in the Agreement), until it is
withdrawn by the Chargor and the
Collateral Agent jointly.

	 	•    vállaljuk az azonnali
beszedésre vonatkozó megbízás
teljesítését a Felhatalmazó
Levélnek megfelelően
mindaddig, amíg a
Felhatalmazó Levélet (a
Szerződés szerint
meghatározott, angolul: “Authorisation to Act on a
Prompt Collection Order”) a
Zálogkötelezett és a
Biztosítéki Megbízott közösen
vissza nem vonja.

	 	 	 

	In case of any discrepancies in the
interpretation of the English and the
Hungarian version of this document, the
English version shall prevail.

	 	Jelen okirat angol és magyar
nyelvű változatának eltérő
értelmezése esetén az angol
nyelvű szöveg az irányadó.

Budapest, ________________________

_________________________________________

Name:

Title:

[ACCOUNT BANK / SZÁMLAVEZETŐ BANK]

as Account Bank / mint Számlavezető Bank

-33-

 

SCHEDULE
4

Part I

Credit Agreement

-34-

 

Part II

Senior Secured Note Indenture

-35-

 

Part III

First Lien Intercreditor Agreement

[ADDITIONAL NOTARIAL CERTIFICATION INSERTED]

-36-exv4w142

     EXHIBIT 4.142

Dr. Bókai Judit közjegyző

Budapest, II. ker. Kapás u. 31., V. em. 43.

Postacím: 1277 Budapest, Pf. 86.

Tel: 201-5083, 212-4265, Fax: 212-4275

Honlap: www.bokai.hu

English licence No. 2/2008.

Deed Number: 11015/Ü/94/2010.

Certified Office Copy

NOTARIAL DEED

Before me, Dr. Vető Péter Notary substitute, acting for Dr. Judit Bókai, a Notary of Budapest, the
following Parties appeared at the Notary’s office (1027 Budapest, Kapás utca 31. V/43.) at the date
below:

	 	(1)	 	CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság a limited liability
company (korlátolt felelősségű társaság) incorporated under the laws of Hungary, having
its registered seat as at the date of this Agreement at H-8000 Székesfehérvár, Berényi út
72-100., Hungary, registered under registration number: Cb.07-09-013757, with tax
identification number 14122952-2-07 (hereinafter referred to as the “Chargee”);
represented by
	 
	 	 	 	Dr. Horvai-Hillenbrand Péter (born: Budapest, 17. August 1979., mother’s maiden name:
Fekete Gabriella), residing at 1124 Budapest, Vércse u. 6. II/2., who established his
identity by his identity card number 940137CA and his attorney’s certificate number A/8158,
lot number 17883 who established by a power of attorney that he is legally entitled to
execute this document alone and to undertake the obligations contained in this Agreement,
	 
	 	(2)	 	Wilmington Trust (London) Limited, registered seat at 6 Broad Street Place, London
EC2M 7JH United Kingdom, registration number: 05650152, acting as chargee under this
Agreement, in its capacity as collateral agent, acting on behalf and for the benefit of
the Secured Parties (as defined below), as appointed under the First Lien Intercreditor
Agreement (as defined below) and authorised to represent their joint and several rights in
connection with this Agreement (hereinafter, with its successors, permitted transferees
and permitted assigns in such capacity, referred to as the “Collateral Agent” or the
“Chargee”; represented by
	 
	 	 	 	Dr. Pelikán Melinda (born in: Budapest, 21. December 1976, mother’s maiden name: Németh
Erzsébet), residing at 1077 Budapest, Rejtő Jenő u. 6., who established her identity by her
identity card number 330193 DA and who established by a power of attorney that she is
legally entitled to execute this document alone and to undertake the obligations contained
in this Agreement,
	 
	 		 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party”
means any of them, as the context may require.
	 
	 	 	 	The representatives of the Parties declared, with full knowledge of their potential
criminal responsibility and liability, that the Party represented by them has been
properly established and is currently existing and that they, as representatives with

 

 

	 	 	 	signing authority pursuant to the above, are authorised to make the declarations necessary
for inclusion in the present notarial deed in the name of the Party which they represent.
	 
	 	 	 	The Notary substitute in advance informed the concerned Parties of the purpose and method
of, and the personal data affected by the procedure of identity-control; the obligation of
the Notary to refuse notarial involvement, and the duty of notification thereof prescribed
in Section 122 (8) of Act XLI. of 1991. on public notaries; and furthermore, about the
procedure of handling the personal data thus obtained.
	 
	 	 	 	who requested that I incorporate into a notarial deed the following:

I./ AGREEMENT CONSTITUTING FRAMEWORK FIXED CHARGE OVER MOVEABLE ASSETS

(KERETBIZTOSÍTÉKI INGÓ ZÁLOGSZERZŐDÉS)

WHEREAS

	(A)	 	Pursuant to the Loan Documents (as defined below) the Chargor was requested to provide
security to the Chargee for the Obligations under the Loan Documents (each as defined below).
	 
	(B)	 	The Parties have agreed to enter into this Agreement to create a security interest over the
Charged Assets (as defined below) in accordance with and subject to the terms and conditions
as set out herein.
	 
	(C)	 	The Secured Parties (as defined below) have duly authorised and empowered the Chargee to
enter into this Agreement and to represent their joint and several rights in connection with
the Charge (as defined below), acting for its own and for the Secured Parties’ benefit.

NOW IT IS HEREBY AGREED AS FOLLOWS:

	1.	 	INTERPRETATION
	 
	1.1	 	Definitions
	 
	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in the
First Lien Intercreditor Agreement has the same meaning in this Agreement and in any notice
given under this Agreement.
	 
	 	 	In this Agreement:
	 
	 	 	“Agreed Security Principles” has the meaning it is given in the Credit Agreement and the
Senior Secured Note Indenture and, to the extent of any inconsistency, the meaning it is
given in the Credit Agreement shall prevail.
	 
	 	 	“Applicable Representative” has the meaning given to that term in the First Lien
Intercreditor Agreement.

-2-

 

	 	 	“Business Day” means a day (other than Saturday or Sunday) on which banks are open for
business in New York, London and Budapest.
	 
	 	 	“Charged Assets” means Machinery and Equipment subject to a Fixed Charge.
	 
	 	 	“Civil Code” means Act IV of 1959 (as amended) on the Civil Code of the Republic of Hungary.
	 
	 	 	“Court Enforcement Act” means Act LIII of 1994 on Judicial Execution.
	 
	 	 	“Credit Agreement” means the Credit Agreement dated as of 5 November 2009, among Closure
Systems International B.V., Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.
and SIG Austria Holding GmbH as borrowers, Reynolds Group Holdings Limited, the lenders from
time to time party thereto and Credit Suisse AG (formerly known as Credit Suisse), as
administrative agent, as amended, extended, restructured, renewed, novated, supplemented,
restated, refunded, replaced or modified from time to time, attached as Part I of Schedule 1
(Credit Agreement) to this Agreement.
	 
	 	 	“Declaration” means a written declaration (in Hungarian “ténytanúsítvány”/”ténytanúsító
okirat”, to be incorporated into a notarial deed) of the Chargee issued in accordance with
Section 21(2) of the Court Enforcement Act (i) declaring the failure of the Chargor to pay
the relevant amounts on the due date set forth in the Demand and (ii) stipulating the amount
of principal, interest and default interest due as at the date of such declaration as well
as the applicable rate of interest and default interest applicable from such date until the
date of receipt by the Chargee of the proceeds of the enforcement hereunder.
	 
	 	 	“Demand” means a written demand made by the Chargee and delivered in accordance with this
Agreement to the Chargor with a copy to the Loan Parties’ Agent if an Event of Default has
occurred and is continuing unremedied and unwaived (i) declaring the occurrence of an Event
of Default which is continuing unremedied and unwaived; and (ii) setting (at the Chargee’s
total discretion) a payment date for the payment of all amounts outstanding under or in
connection with the Credit Agreement and/or the other Loan Documents and stipulating that if
such payment is not made when due, the Chargee becomes authorised to enforce the Fixed
Charge.
	 
	 	 	“Dispute” has the meaning given to that term in Clause 15 (Jurisdiction) of this Agreement.
	 
	 	 	“Enforcement Events” means collectively Enforcement Event I and Enforcement Event II and
“Enforcement Event” means any one of them.
	 
	 	 	“Enforcement Event I” means the issuance of a Declaration by the relevant public notary
after the non-payment of the full amounts set forth in the Demand on the due date thereof.
	 
	 	 	“Enforcement Event II” means the occurrence of an Event of Default which is continuing
unremedied and unwaived and in respect of which a notice has been served in

-3-

 

	 	 	accordance with Article VII of the Credit Agreement or the equivalent provisions of the
other Principal Finance Documents except that any rights of the Chargee in respect of the
preservation of the assets or the security may be exercised if the Chargee determines that
they are required to be exercised if an Event of Default has occurred and is continuing
(i.e. without any notice).
	 
	 	 	“Event of Default” means an “Event of Default” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated as
of 5 November 2009, among the Collateral Agent, The Bank of New York Mellon, as trustee
under the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse),
as administrative agent under the Credit Agreement, and the Loan Parties, as amended,
novated, supplemented, restated or modified from time (including by the Joinder Agreement
which added the Collateral Agent as a collateral agent under the First Lien Intercreditor
Agreement) to time, attached as Part III of Schedule 1 (First Lien Intercreditor Agreement)
to this Agreement.
	 
	 	 	“Fixed Charge” means the fixed charge created by, and pursuant to, Clause 2 of this
Agreement in connection with the Charged Assets.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent and the Collateral Agent as an
intercreditor agreement, in each case as amended, novated, supplemented, restated, replaced
or modified from time to time.
	 
	 	 	“Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.
	 
	 	 	“Joinder Agreement” means the joinder agreement dated on 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of New York Mellon, Credit Suisse AG and Reynolds
Group Holdings Limited pursuant to which the Collateral Agent is appointed an additional
collateral agent and becomes a party to the First Lien Intercreditor Agreement.
	 
	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).
	 
	 	 	“Machinery and Equipment” means the manufacturing machinery and equipment of the Chargor
stored on the premises of the Chargor (irrespective whether those premises are owned, leased
or used by the Chargor on the basis of any other title), each with a

-4-

 

	 	 	value (determined by reference to the book value of that asset) equal to, or greater than
EUR 250,000 as listed in Schedule 2 (Machinery and Equipment);
	 
	 	 	“Obligations” means all present and future obligations and liabilities including Parallel
Debt (whether actual or contingent and whether owed jointly or severally or in any other
capacity whatsoever) of each Loan Party and each grantor of a security interest to the
Secured Parties (or any of them) under each or any of the Loan Documents, together with all
costs, charges and expenses incurred by any Secured Party in connection with the protection,
preservation or enforcement of its respective rights under the Loan Documents or any other
document evidencing or securing any such liabilities.
	 
	 	 	“Parallel Debt” means the independent obligations of any of the Loan Parties arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to and in the currency of each amount payable by such Loan Party to each of the Secured
Parties under each of the Loan Documents.
	 
	 	 	“Principal Finance Document” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.
	 
	 	 	“Registry of Charges” means the central registry of charges, fixed charges and floating
charges kept and maintained by the Chamber of Hungarian Public Notaries.
	 
	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in the First Lien
Intercreditor Agreement.
	 
	 	 	“Secured Principal” has the meaning given to such term in Clause 2.1 of this Agreement.
	 
	 	 	“Senior Secured Note Indenture” means the Indenture dated as of 5 November 2009, among the
Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from
time to time, attached as Part II of Schedule 1 (Senior Secured Note Indenture) to this
Agreement.

	 
	1.2	 	Construction     

	 	1.2.1 	 	Headings are for convenience of reference only.     
	 
	 	1.2.2 	 	Where the context so permits, the singular includes the plural and vice versa.     
	 
	 	1.2.3	 	Save where the contrary is indicated, any reference in this Agreement to the
“Chargee”, the “Chargor”, “Secured Party”, a “Loan Party” or a “Lender” shall be
construed so as to include its (or their) respective successors, transferees and
assignees from time to time and any successor of such a successor, transferee or
assignee in accordance with its (or their) respective interests.
	 
	 	1.2.4	 	The Parties agree and confirm that any person becoming a transferee of any
rights and obligations of the Collateral Agent under the First Lien Intercreditor
Agreement shall thereupon become entitled to the benefit of the provisions

-5-

 

	 	 	 	contained herein as if it had originally been and had been named as a party hereto.
	 
	 	1.2.5	 	References to Clause and Schedule shall, subject to any indication to the
contrary, mean the respective Clause and Schedule of this Agreement.
	 
	 	1.2.6	 	References to the Credit Agreement, the First Lien Intercreditor Agreement,
the other Loan Documents, this Agreement or any other agreement or document shall,
where applicable, be deemed to be references to such Credit Agreement, the First Lien
Intercreditor Agreement, the other Loan Documents, this Agreement or such other
agreement or document as the same may have been, or may from time to time be, amended,
extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, as persons may accede thereto as a party or withdraw
therefrom as a party in part or in whole or be released thereunder in part or in whole,
and as facilities and financial services are or may from time to time be granted,
extended, prolonged, increased, reduced, cancelled, withdrawn, amended, restated,
supplemented, restructured, refunded, replaced, modified, renewed or novated
thereunder.
	 
	 	1.2.7	 	Any amount will be deemed irrevocably paid in full if it has been paid in
full and there is no evidence such as to give a reasonable belief that any claim will
be brought to revoke such payment.
	 
	 	1.2.8	 	References to any element of the legislation, statute, act, law, regulation
or any provision thereof shall, where applicable, be deemed to be references to that
element of the legislation, as amended or re-enacted.
	 
	 	1.2.9	 	This Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

	2.	 	CREATION OF THE FIXED CHARGE
	 
	2.1	 	The Fixed Charge
	 
	2.1	 	In order to secure the Obligations, up to the maximum amount of:

	 	(i)	 	USD 2,280,000,000 (that is two billion two hundred and eighty million U.S.$
and EUR 780,000,000 (that is seven hundred and eighty million euro) (the “Secured
Principal”); plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan Documents); plus
all accrued default interest (as calculated in accordance with Loan Documents); plus
any other amounts, monetary obligations, indemnities, fees, commissions, costs and
expenses arising under and payable in accordance with the terms of the Loan Documents,
which amounts, monetary obligations, indemnities, fees, commissions, costs, expenses,
and the costs of the enforcement of this Agreement shall not exceed an aggregate
amount representing 40% of the aggregate amount of Secured Principal,

-6-

 

	 	 	 	the Chargor hereby grants to the Chargee a first ranking (első ranghelyű) Fixed Charge over
the Charged Assets in accordance with Section 261(1) of the Civil Code.
	 
	 	 	 	The Chargee hereby accepts such Fixed Charge.

	2.2	 	Registration     

	 	2.2.1	 	The Fixed Charge constituted by this Agreement enters into full force and
effect as of the date of its execution by the Parties in the form of a notarial deed
and its registration in the Registry of Charges, therefore the Parties hereby request
the registration of the Fixed Charge in the Registry of Charges.
	 
	 	2.2.2	 	Subject to the terms of the Loan Documents and the Agreed Security
Principles, the Chargor undertakes to meet all costs incurred in connection with the
notarisation and the registration procedure set out in Clause 2.2.1 above and consents
to the entry of the Fixed Charge established herein in the Registry of Charges for the
benefit of the Chargee.
	 
	 	2.2.3	 	The Parties request that the existence and registration of the Fixed Charge
shall be certified by a certification (“tanúsítvány”) to be issued by the relevant
public notary without any delay following the execution and registration of the Fixed
Charge created hereunder.

	2.3	 	Nature of the Fixed Charge     

	 	2.3.1	 	The Fixed Charge constituted by, and pursuant to, this Agreement shall:     

	 	(a)	 	subject to any Lien permitted by the Loan Documents be a first ranking
(első ranghelyű) security over the Charged Assets;
	 
	 	(b)	 	to the extent permitted by Hungarian law, be of the nature of a
“framework security” (keretbiztosítéki jelzálogjog), the maximum amount of which
is the sum set out under Clause 2.1 (The Fixed Charge);
	 
	 	(c)	 	be a continuing security for the payment, satisfaction and discharge in
full of the Obligations and shall not be considered as satisfied or discharged
or prejudiced by any intermediate payment, satisfaction or settlement of any
part of the Obligations unless and until discharged by the Chargee;
	 
	 	(d)	 	be in addition to and shall not operate so as in any way to prejudice
or affect or be prejudiced or affected by any security, encumbrance, guarantee,
suretyship, indemnity or other right or remedy which the Chargee or any other
Secured Party (or any person on their behalf) may now or at any time hereafter
hold for or in respect of the Obligations or any part thereof; and
	 
	 	(e)	 	not be prejudiced by any time or indulgence granted to any person, or
any abstention or delay by the Chargee or any other Secured Party (or any person
on their behalf) in perfecting or enforcing any security,

-7-

 

	 	 	 	encumbrance, guarantee, suretyship, right or remedy that the Chargee or any
other Secured Party (or any person on their behalf) may now or at any time
hereafter have from or against the Loan Parties.

	2.4	 	Disposal
	 
	 	 	Notwithstanding any other provision of this Agreement, at all times unless an Enforcement
Event has occurred, the Chargor is authorised by the Chargee to hold, dispose of, process,
remodel, use and exercise all other rights and powers in respect of the Charged Assets to
the extent permitted by the Principal Finance Documents.
	 
	3.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS
	 
	3.1	 	Representations and Warranties
	 
	 	 	In addition and without prejudice to those representations and warranties made by or in
respect of the Chargor herein or in any other Principal Finance Document, the Chargor hereby
represents and warrants that on the date of this Agreement with reference to the facts and
circumstances then existing, and subject to the provisions of the Principal Finance
Documents:

	 	(a)	 	it is the sole owner of the Charged Assets, subject to any Liens permitted by
the Principal Finance Documents and it has not sold, transferred or otherwise disposed
of, nor has it agreed to sell, transfer or otherwise dispose of, any or all of its
rights in the Charged Assets to any third person, in each case other than as permitted
by the Principal Finance Documents or this Agreement;
	 
	 	(b)	 	the representations and warranties made by the Chargor as Loan Party in
Sections 3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.06
(No Material Adverse Change), 3.09 (Litigation, Compliance with Laws), 3.10
(Agreements), 3.19 (Security Documents) and 3.22 (Solvency) of the Credit Agreement are
true and accurate as regards the Chargor and this Agreement;
	 
	 	(c)	 	except in respect of Liens permitted by the Principal Finance Documents, it
has not reserved a priority ranking or position (as applicable) in respect of any of
the Charged Assets (as regulated by sections 262 (5) and 264 (2) of the Civil Code).
	 
	 	(d)	 	subject to any Liens permitted by the Principal Finance Documents and subject
to the Legal Reservations (as defined in the Credit Agreement), this Agreement,
together with the act of registration at the Registry of Charges, as set out in Clause
2.2 (Registration) above constitutes a valid first ranking Fixed Charge over the
Charged Assets in favour of the Chargee;
	 
	 	(e)	 	it has not granted any Lien in favour of any third person that would have an
adverse effect on the validity and enforceability of security constituted by the Fixed
Charge, other than as permitted by the Principal Finance Documents; and
	 
	 	(f)	 	it has not taken any action and has used reasonable endeavours to prevent any
of its authorised signatories from taking any action that would have an adverse effect

-8-

 

	 	 	 	on the validity and enforceability of security constituted by this Agreement, other
than as permitted by the Principal Finance Documents.

	 	 	The representations and warranties set out in this Clause 3.1 shall be deemed to be repeated
as true and correct in all material respects on the date of a Credit Event (as defined in
the Credit Agreement) during the continuance of this Agreement.
	 
	3.2	 	Covenants
	 
	 	 	In addition and without prejudice to those covenants, undertakings, commitments and
obligations made by or in respect of the Chargor herein or in any other Loan Document, the
Chargor hereby covenants that, so long as this Agreement shall be in force and subject to
Clause 2.4 (Disposal), it shall:

	 	(a)	 	not take or omit to take any action the taking or omission of which would
result in the alteration or impairment of any rights of the Collateral Agent under the
Fixed Charge which would have an adverse effect on the validity and enforceability of
the security hereunder except if such actions or omissions are permitted by the
Principal Finance Documents;
	 
	 	(b)	 	in each case subject to the Agreed Security Principles, from time to time
execute such documents and do all such acts and things as the Chargee may require
(acting on the reasonable instructions of the Applicable Representative) from time to
time to create, perfect or protect the Fixed Charge or any part thereof or to
facilitate the realisation of the Fixed Charge or any part thereof and as are required
(acting on the reasonable instructions of the Applicable Representative) in the
exercise of all powers, authorities and discretions vested in the Chargee pursuant to
this Agreement in respect of the Fixed Charge or any part thereof;
	 
	 	(c)	 	promptly notify the Chargee of any event or circumstance of which the Chargor
is aware which would (i) materially and adversely affect, alter or impair the Chargee’s
rights relating to the validity and enforceability of the security created under or
pursuant to this Agreement, (ii) materially and adversely affect, alter or impair the
Chargee’s rights under or pursuant to this Agreement in relation to the filing of a
petition for the bankruptcy (“csődeljárás”) or insolvency (“felszámolási eljárás”) of
the Chargor, the initiation of an execution in respect of the Charged Assets in
accordance with the Court Enforcement Act or similar laws applicable in other
jurisdictions, the termination of the Chargor’s commercial activities or the winding-up
of the Chargor (unless the termination of the Chargor’s commercial activities or the
winding up of the Chargor is permitted by the Principal Finance Documents);
	 
	 	(d)	 	except in respect of Liens permitted by the Principal Finance Documents, not
reserve a priority ranking or position (as applicable) in respect of any of the Charged
Assets under section 264 (2) of the Civil Code;
	 
	 	(e)	 	(i) except in respect of any Liens permitted by the Principal Finance
Documents and subject to the Legal Reservations (as defined in the Credit Agreement),
ensure that the Fixed Charge created hereunder shall be at all times a first ranking

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	 	 	 	Fixed Charge over the Charged Assets; (ii) not grant any further Lien over the Charged
Assets; and (iii) not sell, transfer or otherwise dispose of any or all of its rights
in the Charged Assets (whether with or without consideration) and shall not
lease the Charged Assets, in each case other than as permitted by the Principal
Finance Documents or this Agreement;
	 
	 	(f)	 	make all reasonable efforts to treat and maintain the Charged Assets in a
prudent manner, and make reasonable efforts to ensure that the Charged Assets do not
suffer damage or any depreciation in value beyond that attributable to reasonable wear
and tear, except for circumstances arising out of the control of the Chargor;
	 
	 	(g)	 	provide the Chargee on the date of this Agreement with a list of Machinery and
Equipment (attached as Schedule 2 (Machinery and Equipment)), identifying the Charged
Assets;
	 
	 	(h)	 	provide the Chargee with an updated list of Machinery and Equipment or a
confirmation that the list at Schedule 2 (Machinery and Equipment) is up to date (i)
annually by 31 March each year (the first such list to be provided by 31 March 2011)
and (ii) within five (5) Business Days upon the request of the Collateral Agent if an
Enforcement Event has occurred; and
	 
	 	(i)	 	after serving an updated list of Machinery and Equipment referred to in Clause
3.2 (h) above, and within fifteen (15) Business Days of receipt from the Chargee of a
draft amendment in a form substantially similar to this Agreement and subject in each
case to the Agreed Security Principles, the Chargor shall create a fixed charge in
favour of the Chargee over the newly acquired Machinery and Equipment listed in such
updated list of Machinery and Equipment in accordance with the provisions set out
herein and ensure that such fixed charge is registered in the Registry of Charges.

	4.	 	CHARGEE’S RIGHTS

	4.1	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to
act on the instructions of the Applicable Representative in accordance with clause 2.02(a)(i)
of the First Lien Intercreditor Agreement. It is further acknowledged that the Collateral
Agent may assume that any and all instructions received by it from the Applicable
Representative under this Agreement are reasonable, and that any question as to the
reasonableness or otherwise of such instructions shall be determined as between the Applicable
Representative and the Chargor.
	 
	4.2	 	The Chargor acknowledges and agrees that the Collateral Agent’s actions under this
Agreement are on the basis of authority conferred under the Principal Finance Documents to
which the Collateral Agent is a party, and on directions of the Applicable Representative. In
so acting, the Collateral Agent shall have the protections, immunities, rights, indemnities
and benefits conferred on a collateral agent under the Principal Finance Documents.
	 
	4.3	 	The powers conferred by this Agreement on the Chargee in relation to the Charged
Assets or any part thereof shall be in addition to and not in substitution for the rights

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	 	 	conferred on the Chargee by applicable law except insofar as they are excluded by this
Agreement and, where there is any ambiguity or conflict between the rights contained in
any such applicable law and those conferred by this Agreement, then the terms of this
Agreement shall prevail to the extent permitted by such law.
	 
	4.4	 	The Chargee shall be entitled, subject to the Agreed Security Principles, the terms
of the Principal Finance Documents and this Agreement and the reasonable instructions of the
Applicable Representative, at any time to take any such action permitted under the relevant
laws as it in its discretion thinks fit for the purpose of protecting the Fixed Charge. For
the avoidance of doubt, enforcement action shall be governed by Clause 5 of this Agreement.
	 
	4.5	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement, the Chargee may,
at any time and from time to time, delegate by power of attorney to any person all or any of
the rights conferred on it by this Agreement which are for the time being exercisable by the
Chargee hereunder in relation to the Charged Assets or any part thereof and the Chargee shall
inform the Chargor of such delegation or appointment of a delegate.
	 
	4.6	 	The Chargee does not need, before it exercises any of the rights conferred upon it by
this Agreement or by law, to (i) initiate proceedings or obtain a judgement against the
Chargor or any other person in any court; (ii) make or file a claim in a bankruptcy or
liquidation with respect to the Chargor or any other person; or (iii) enforce any of its
rights in respect of any part of the Obligations, except as expressly required by Hungarian
law from time to time.
	 
	5.	 	ENFORCEMENT
	 
	5.1	 	The Chargor hereby acknowledges that if an Enforcement Event has occurred the Chargee
becomes immediately entitled to enforce the Fixed Charge, by way of:

	 	(a)	 	court enforcement proceedings (as set out in Section 255 (1) of the Civil
Code); or
	 
	 	(b)	 	simplified court enforcement proceedings (as set out in Section 257 (4) of the
Civil Code); or
	 
	 	(c)	 	selling the Charged Assets by the Chargee (pursuant to the provisions of
Section 257 (2) of the Civil Code); or
	 
	 	(d)	 	if the Chargee so elects, instructing a Hungarian institution engaged in
granting charge-backed loans or arranging auctions as its main business (as set out in
Section 257 (3) of the Civil Code) to sell the Charged Assets, which sale shall be
affected by a public auction to the highest bidder; or
	 
	 	(e)	 	joint sale of all or any part of the Charged Assets by the Chargee and the
Chargor.

	5.2	 	If the Chargee elects to conduct the enforcement pursuant to Clause 5.1(a) in
accordance with Sections 10(b), 20 and 21 of the Court Enforcement Act, then it shall become
immediately entitled to enforce the Fixed Charge upon the occurrence of an Enforcement Event
I.

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	5.3	 	If the Chargee elects to conduct the enforcement in accordance with any other method
available under Clause 5.1 (other than Clause 5.1(a)), then it shall become immediately
entitled to enforce the Fixed Charge if an Enforcement Event has occurred.
	 
	5.4	 	For the avoidance of any doubt, the Chargee is entitled to switch from any
enforcement method available under Clause 5.1 to another method thereunder if it determines
(on the reasonable instructions of the Applicable Representative) that the selected mechanism
is or likely to be unsuccessful or inefficient.
	 
	5.5	 	The Parties hereby agree that without prejudice to the provisions of Clause 5.1
above, if an Enforcement Event has occurred, at the request of the Chargee, the Parties will
enter into negotiations in good faith regarding the possible acquisition of any or all of the
Charged Assets by the Chargee.
	 
	5.6	 	If the enforcement is conducted in accordance with Clause 5.1 (c), (d) or (e), then
the sale of any of the Charged Assets shall be subject to the following conditions: (i) the
bidder must offer a minimum purchase price of the Charged Assets being at least 65% of the
fair market value (the “Value”) as determined by an independent expert of international repute
(the “Expert”), which Expert is to be selected in accordance with Clause 5.12 below, and (ii)
the sale must be completed within three (3) months of the delivery of the valuation report by
the Expert in a written form. If no offers are made at such rate during the period of three
(3) months, then the Charged Assets shall be sold at the highest bid offered but at least at
50% of the Value (as determined by the Expert) within a period of twelve (12) months following
the expiry of the period referred to in this Clause 5.6 For the avoidance of doubt the Chargee
shall be considered to have acted reasonably when it accepts the highest bid offered during
the sale for the Charged Assets in accordance with the terms above.
	 
	5.7	 	If the Fixed Charge is enforced by simplified court enforcement proceedings, in
accordance with Sections 204/B to 204/H of Court Enforcement Act, and with Clause 5.1 (b)
above, then the minimum purchase price of the Charged Assets shall be at least 65% of the
Value.
	 
	5.8	 	The Chargor shall, upon the request of the Chargee, if an Enforcement Event has
occurred, as soon as possible, but in any event within fifteen (15) Business Days, deliver any
document relating to the Charged Assets, which is required by the Chargee for the purposes of
exercising its rights under this Agreement. The Chargee shall provide a copy of the valuation
report obtained from the Expert in respect of the Charged Assets to the Chargor within five
(5) Business Days from the receipt of such report. The appointed Hungarian institution under
Clause 5.1(d) above is entitled to request all necessary documents for the sale from the
Chargor and the Chargor must deliver such documents to that institution accordingly.
	 
	5.9	 	The Chargee shall within 15 (fifteen) days before the sale notify the Chargor in
writing of (i) the method, (ii) the place and (iii) the date of such sale. The Chargee hereby
confirms that it will comply with the provisions of Government Decree No. 12/2003 (I. 30.),
including but not limited to notifying the Chargor of its intention to sell the Charged
Assets, at least 30 (thirty) days before the date of the intended sale.

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	5.10	 	The Chargee shall utilise the proceeds of any sale under this Clause 5 and shall
return the surplus amounts, if any, in accordance with the First Lien Intercreditor Agreement.
	 
	5.11	 	No purchaser or other person shall be bound or concerned to see or enquire whether
the right of the Chargee to exercise any of the powers hereby conferred has arisen, nor be
concerned with notice to the contrary or with the propriety of the exercise or purported
exercise of such powers.
	 
	5.12	 	The procedure of the appointment of the Expert is the following: the Chargee (in its
sole discretion) may propose three (3) internationally recognised, independent experts and the
Chargor may, in its sole discretion, elect one of these experts at the cost of the Chargor. If
the Chargor fails to appoint the Expert within five (5) Business Days from the receipt of the
proposal of the Chargee, the Chargee may appoint the Expert in its sole discretion.
	 
	6.	 	GENERAL PROVISIONS
	 
	6.1	 	Separate Agreements
	 
	 	 	This Agreement shall be construed so as to constitute a separate security agreement between
the Chargor on the one hand and the Chargee on the other hand and if such separate agreement
between the Chargor and the Chargee becomes invalid or unenforceable, is terminated,
rescinded, released, void, voidable, amended, restated, renewed, novated, supplemented or
otherwise affected, the obligations of the Chargor is satisfied or any of the rights of
Chargee created thereby is ineffective, the foregoing shall, to the fullest extent permitted
by law, not affect the validity or enforceability of any of the other agreements between the
Chargor on the one hand and the Chargee on the other hand.
	 
	6.2	 	Immediate Recourse
	 
	 	 	To the fullest extent allowed by applicable law, the Chargor waives any right it may have of
first requiring the Chargee to proceed against or claim payment from any other person or
entity or enforce any guarantee, suretyship or security granted by any other person or
entity before enforcing this Agreement and/or its rights hereunder or pursuant hereto.
	 
	6.3	 	Certificates

	 	(a)	 	A certificate (including but not limited to the Declaration) signed by any
duly authorised officer of the Chargee setting forth any amount due to the Secured
Parties from either of the Chargor and/or the Loan Parties in respect of any part of
the Obligations as well as the occurrence of an Event of Default which is continuing
shall be prima facie evidence of such amount against the Loan Parties and the Chargor
except in case of manifest error or fraud on the part of the Chargee.
	 
	 	(b)	 	The Chargor hereby acknowledges that after the occurrence of an Event of
Default which is continuing the Chargee shall be entitled to incorporate such
certificate, setting out the outstanding amount of all or any part of the Obligations
in a notarial certificate (in Hungarian: “ténytanúsítvány”/“ténytanúsító okirat”), the
costs of which are to be borne in

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	 	 	 	accordance with the Principal Finance Documents. The
Chargor accepts any notarial certificate issued according to this Clause as prima facie
evidence except in case of manifest error or fraud on the part of the Chargee.

	6.4	 	Discharge
	 
	 	 	Where any discharge (whether in respect of this Agreement, or other Security Document for
the Obligations or otherwise) is made in whole or in part or any arrangement is made on the
faith of any payment, security or other disposition which is subsequently avoided or must be
restored on bankruptcy (“csődeljárás”), insolvency (“felszámolási eljárás”) or otherwise
without limitation, the liability of the Chargor under this Agreement and the rights of the
Chargee created hereby and pursuant hereto shall continue as if there had been no discharge
or arrangement. The Chargee shall be under no obligation to challenge, contest or otherwise
take any steps to remedy any avoidance of any payment, security or other disposition or the
restoration thereof by any liquidator, receiver or similar officer on bankruptcy, insolvency
or otherwise.
	 
	7.	 	REMEDIES AND WAIVERS
	 
	 	 	No failure on the part of the Chargee to exercise, and no delay on its part in
exercising, any right or remedy under this Agreement will operate as a waiver thereof, nor
will any single or partial exercise of any right or remedy preclude any other or further
exercise thereof or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or remedies
provided by applicable law, the Credit Agreement or any other Loan Documents.
	 
	8.	 	SEVERABILITY
	 
	 	 	If any of the terms hereof is or becomes invalid or unenforceable (or the security
purported to be created hereunder or pursuant hereto are ineffective) for any reason under
the laws of any jurisdiction or in relation to the Chargor, such invalidity or
unenforceability shall, to the fullest extent possible under applicable law, not affect its
validity or enforceability in any other jurisdiction or invalidate or make unenforceable any
other term hereof. The Parties hereto agree that they will negotiate in good faith to
replace any provision hereof held invalid, illegal or unenforceable with a valid, legal and
enforceable provision which is as similar as possible in substance to the invalid, illegal
or unenforceable provision.
	 
	9.	 	ATTORNEY
	 
	 	 	To the fullest extent permitted by applicable law, the Chargor hereby appoints the
Chargee, such appointment being made for the benefit of the Chargee and the other Secured
Parties represented by the Chargee and shall be effective if an Enforcement Event has
occurred to be its true and lawful attorney (with full power of substitution and delegation)
for and on behalf of the Chargor and in its name or in the name of the Chargee and as the
Chargor’s attorney in act and deed to sign, execute, seal, deliver, acknowledge, file,
register and perfect any and all such assurances, documents, instruments, agreements
(including any agreements to which the Chargee itself is a party) certificates and consents
and to do any and all such acts and things as the Chargor itself could do in relation to the
Charged Assets or in relation to any matters dealt with in

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	 	 	this Agreement and which the
Chargee may, (upon the reasonable instruction of the Applicable Representative), deem to be
necessary in order to give full effect to the purposes of this Agreement. The Chargor will
ratify and confirm whatever the Chargee
shall do or cause to be done in pursuance of the powers conferred to it hereunder. For the
avoidance of any doubt, this Clause constitutes the express consent of the Chargor to the
appointment of the Collateral Agent as its representative for the purposes of Article 221
(3) of the Civil Code except that the Collateral Agent shall not be entitled to conclude or
amend any agreement between the Chargor and any of the Secured Parties or to waive any
rights of the Chargor against any of the Secured Parties.
	 
	10.	 	TERMINATION
	 
	10.1	 	The security constituted by this Agreement shall be released, re-assigned,
re-transferred and cancelled (as applicable):

	 	(a)	 	by the Collateral Agent at the request and cost of the Chargor, upon the
Obligations being irrevocably paid or discharged in full and none of the Secured
Parties being under any further actual or contingent obligation to make advances or
provide other financial accommodation to the Chargor or any other person under any of
the Loan Documents; or
	 
	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor
Arrangements.

	10.2	 	Upon termination of this Agreement and subject to Clause 10.1, the Chargee shall
promptly (but in any event within fifteen (15) days), at the cost of the Chargor, issue all
certificates or other documents and sign all other documents and do all such acts as are
required by law or requested reasonably by the Chargor in order that this Agreement will be
terminated and the Fixed Charge can be deleted from the Registry of Charges.
	 
	10.3	 	If the Chargor disposes of any of the Charged Assets and that disposal is permitted
by the Principal Finance Documents, that Charged Assets shall, unless an Enforcement Event has
occurred, be: (a) automatically released, re-assigned, re-transferred and cancelled (as
applicable) from the Fixed Charge constituted by this Agreement with effect from the day of
such disposal or (b) released, re-assigned, re-transferred and cancelled (as applicable) in
accordance with and to the extent required by, the Intercreditor Arrangements.
	 
	10.4	 	Upon the Chargor disposing of any of the Charged Assets (which disposal is permitted
by the Principal Finance Documents), the Chargee shall promptly (but in any event within
fifteen (15) days) at the cost of the Chargor, issue all certificates or other documents and
sign all other documents and do all such acts as are required by law or requested reasonably
by the Chargor in order to release the relevant Charged Assets from the Fixed Charge
constituted by this Agreement.
	 
	11.	 	POWER TO ASSIGN
	 
	 	 	To the fullest extent permitted under the laws of Hungary and subject to the terms of
the Loan Documents, only the Chargee (but not, for the avoidance of doubt, the Chargor,
unless otherwise permitted by the Principal Finance Documents) shall be entitled to

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	 	 	assign
and/or transfer all or part of its rights and obligations under this Agreement, in the case
of the Chargee, to a replacement Collateral Agent appointed in accordance with the Principal
Finance Documents and the Chargor hereby in advance gives its irrevocable
consent to, within the meaning of Sections 328-331 of the Civil Code, and hereby in advance
irrevocably co-operates with any such assignment and/or transfer (as the case may be)
hereunder.
	 
	12.	 	NOTICES
	 
	 	 	Each notice or other communication to be given or made by a Party under this Agreement
shall be given or made in accordance with the First Lien Intercreditor Agreement.
	 
	13.	 	GOVERNING LAW
	 
	 	 	This Agreement and all non-contractual obligations arising from or connected with it
are governed by, and construed in accordance with, Hungarian law.
	 
	14.	 	JURISDICTION
	 
	 	 	The Parties agree that any dispute arising out of or in connection with this Agreement
(including a dispute regarding the existence, validity or termination of this Agreement or
the consequences of its nullity) (“Dispute”) shall be referred to a Hungarian court in
accordance with the provisions of Act III of 1952 on the code of civil procedure.
	 
	15.	 	LANGUAGE
	 
	 	 	This Agreement shall be executed in English language only. This Agreement may be
translated into Hungarian but in the event of any ambiguity or conflict between the two
versions, the English version shall prevail to the extent permitted by law.
	 
	16.	 	AMENDMENTS
	 
	16.1	 	This Agreement may be amended only by a written instrument executed by the Parties in
the form of a notarial deed.
	 
	16.2	 	With consideration to the forthcoming potential enactment of a new Hungarian civil
code, the Chargor hereby undertakes that, subject to the Agreed Security Principles, upon the
request of the Collateral Agent:

	 	16.2.1	 	it shall agree to an amendment and restatement of this Agreement following
the entry into force of such a new civil code, in order to reflect the provisions
thereof, to the extent such amendment is necessary to preserve the Charge or to clarify
the security position of the Collateral Agent; and
	 
	 	16.2.2	 	it shall enter into good faith negotiations on the amendment and restatement
terms of this Agreement, in order to reflect the provisions of the new civil code,
other than those which are referred to in Clause 16.2.1 above.

	17.	 	APPLICATION FOR REGISTRATION

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	 	 	The Chargee and the Chargor hereby jointly request the notary public to register the
Fixed Charge created pursuant to this Agreement in the Registry of Charges in favour of the
Chargee, in the maximum amount of the Obligations.

II./ AGREEMENT CONSTITUTING FLOATING CHARGE

(VAGYONT TERHELŐ ZÁLOGSZERZŐDÉS)

WHEREAS

	(A)	 	Pursuant to the Loan Documents (as defined below) the Chargor was requested to provide
security to the Chargee for the Obligations under the Loan Documents (each as defined below).
	 
	(B)	 	The Parties have agreed to enter into this Agreement to create a security interest over the
Charged Assets (as defined below) in accordance with and subject to the terms and conditions
as set out herein.
	 
	(C)	 	The Secured Parties (as defined below) have duly authorised and empowered the Chargee to
enter into this Agreement and to represent their joint and several rights in connection with
the Floating Charge (as defined below), acting for its own and for the Secured Parties’
benefit.

NOW IT IS HEREBY AGREED AS FOLLOWS:

	18.	 	INTERPRETATION
	 
	18.1	 	Definitions
	 
	 	 	Unless defined in this Agreement or the context otherwise requires, a term defined in the
First Lien Intercreditor Agreement has the same meaning in this Agreement and in any notice
given under this Agreement.
	 
	 	 	In this Agreement:
	 
	 	 	“Agreed Security Principles” has the meaning it is given in the Credit Agreement and the
Senior Secured Note Indenture and, to the extent of any inconsistency, the meaning it is
given in the Credit Agreement shall prevail.
	 
	 	 	“Applicable Representative” has the meaning given to that term in the First Lien
Intercreditor Agreement.
	 
	 	 	“Business Day” means a day (other than Saturday or Sunday) on which banks are open for
business in New York, London and Budapest.
	 
	 	 	“Charged Assets” means all assets (including the Trade Receivables and Goodwill) owned by
the Chargor at the date on which this Agreement comes into effect and from time to time in
the future, including assets purchased and acquired by the Chargor, but excluding assets
disposed or sold by the Chargor to the extent permitted by the Loan Documents or this
Agreement.

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	 	 	“Civil Code” means Act IV of 1959 (as amended) on the Civil Code of the Republic of Hungary.
	 
	 	 	“Court Enforcement Act” means Act LIII of 1994 on Judicial Execution.
	 
	 	 	“Credit Agreement” means the Credit Agreement dated as of 5 November 2009, among the Closure
Systems International B.V., Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.
and SIG Austria Holding GmbH as borrowers, Reynolds Group Holdings Limited, the lenders from
time to time party thereto and Credit Suisse AG (formerly known as Credit Suisse), as
administrative agent, as amended, extended, restructured, renewed, novated, supplemented,
restated, refunded, replaced or modified from time to time, attached as Part I of Schedule 1
(Credit Agreement) to this Agreement.
	 
	 	 	“Crystallisation” means the procedure of transforming, with a Crystallisation Notice,
the Floating Charge into a mortgage over real estates, a fixed charge over moveable assets,
pledge over moveable assets or charge over rights and/or claims of the Chargor.
	 
	 	 	“Crystallisation Notice” means a written notification (in the form of a notarial deed) from
the Chargee to the Chargor about the initiation of the Crystallisation, substantially in the
form set out in Schedule 2.
	 
	 	 	“Declaration” means a written declaration (in Hungarian: “ténytanúsítvány“/“ténytanúsító
okirat” to be incorporated into a notarial deed) of the Chargee issued in accordance with
Section 21(2) of the Court Enforcement Act (i) declaring the failure of the Chargor and/or
the Loan Parties to pay the relevant amounts on the due date set forth in the Demand and
(ii) stipulating the amount of principal, interest and default interest due as at the date
of such declaration as well as the applicable rate of interest and default interest
applicable from such date until the date of receipt by the Chargee of the proceeds of the
enforcement hereunder.
	 
	 	 	“Demand” means a written demand made by the Chargee and delivered in accordance with this
Agreement to the Chargor with a copy to the Loan Parties’ Agent if an Event of Default has
occurred and is continuing unremedied and unwaived (i) declaring the occurrence of an Event
of Default which is continuing unremedied and unwaived; and (ii) setting (at the Chargee’s
total discretion) a payment date for the payment of all amounts outstanding under or in
connection with the Credit Agreement and/or the other Loan Documents and stipulating that if
such payment is not made when due, the Chargee becomes authorised to enforce the Charge.
	 
	 	 	“Dispute” has the meaning given to that term in Clause 14 (Jurisdiction) of this Agreement.
	 
	 	 	“Enforcement Events” means collectively Enforcement Event I and Enforcement Event II and
“Enforcement Event” means any one of them.
	 
	 	 	“Enforcement Event I” means the issuance of a Declaration by the relevant public notary
after the non-payment of the full amounts set forth in the Demand on the due date thereof.

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	 	 	“Enforcement Event II” means the occurrence of an Event of Default which is continuing
unremedied and unwaived and in respect of which a notice has been served in accordance with
Article VII of the Credit Agreement or the equivalent provisions of the other Principal
Finance Documents except that any rights of the Chargee in respect of the
preservation of the assets or the security may be exercised if the Chargee determines that
they are required to be exercised if an Event of Default has occurred and is continuing
(i.e. without any notice).
	 
	 	 	“Event of Default” means an “Event of Default” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Expert” has the meaning given to such term in Clause 5.14 (Enforcement) of this Agreement.
	 
	 	 	“First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated as
of 5 November 2009, among the Collateral Agent, The Bank of New York Mellon, as trustee
under the Senior Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse),
as administrative agent under the Credit Agreement, and the Loan Parties, as amended,
novated, supplemented, restated or modified from time to time, (including by the Joinder
Agreement which added the Collateral Agent as a collateral agent under the First Lien
Intercreditor Agreement), attached as Part III of Schedule 1 (First Lien Intercreditor
Agreement) to this Agreement.
	 
	 	 	“Floating Charge” means the floating charge created by, and pursuant to, this Agreement.
	 
	 	 	“Goodwill” means the intangible asset (including the value of the Chargor’s name and
reputation and its customer relations) of the Chargor as shown in its then actual balance
sheet.
	 
	 	 	“Group” means Reynolds Group Holdings Limited and each of its subsidiaries from time to
time.
	 
	 	 	“Individual Encumbrances” has the meaning given to such term in Clause 5.5 (Enforcement) of
this Agreement.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent and the Collateral Agent as an
intercreditor agreement, in each case as amended, novated, supplemented, restated, replaced
or modified from time to time.
	 
	 	 	“Issuers” means the “Issuers” under, and as defined in, the Senior Secured Note Indenture,
including their successors in interest.
	 
	 	 	“Joinder Agreement” means the joinder agreement dated on 21 January 2010 made among (amongst
others) the Collateral Agent, The Bank of New York Mellon, Credit Suisse AG and Reynolds
Group Holdings Limited pursuant to which the Collateral Agent is appointed an additional
collateral agent and becomes a party to the First Lien Intercreditor Agreement.

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	 	 	“Land Registry” means the relevant land registry office which pursuant to Act CXLI of 1997
on Real Property Registration is entitled to keep the real property registers including the
registry of mortgages.
	 
	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” means the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” means the “Grantors” under, and as defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	“Loan Parties’ Agent” means Reynolds Group Holdings Limited (formerly known as Rank Group
Holdings Limited).
	 
	 	 	“Material Deterioration” means the value of the Charged Assets at any time being less than
50% (excluding any ordinary wear and tear or depreciation) of (a) the value of the Charged
Assets as at the date of this Agreement (determined in accordance with the most recent
balance sheet of the Chargor) minus (b) the value of any asset as at the date of this
Agreement that is disposed of, sold or otherwise transferred as permitted under the Loan
Documents and this Agreement.
	 
	 	 	“Obligations” means all present and future obligations and liabilities including Parallel
Debt (whether actual or contingent and whether owed jointly or severally or in any other
capacity whatsoever) of each Loan Party and each grantor of a security interest to the
Secured Parties (or any of them) under each or any of the Loan Documents, together with all
costs, charges and expenses incurred by any Secured Party in connection with the protection,
preservation or enforcement of its respective rights under the Loan Documents or any other
document evidencing or securing any such liabilities.
	 
	 	 	“Parallel Debt” means the independent obligations of any of the Loan Parties arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to and in the currency of each amount payable by such Loan Party to each of the Secured
Parties under each of the Loan Documents.
	 
	 	 	“Principal Finance Document” means the Credit Agreement, the Senior Secured Note Indenture,
the Intercreditor Arrangements and any Additional Agreement.
	 
	 	 	“Registry of Charges” means the central registry of charges, fixed charges and floating
charges kept and maintained by the Chamber of Hungarian Public Notaries.
	 
	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Secured Principal” has the meaning given to such term in Clause 2.1 (The Floating Charge)
of this Agreement.
	 
	 	 	“Senior Secured Note Indenture” means the Indenture dated as of 5 November 2009, among the
Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as amended,

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	 	 	extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from
time to, attached as Part II of Schedule 1 (Senior Secured Note Indenture) to this
Agreement.
	 
	 	 	“Trade Receivables” means all monetary claims and claims capable of being expressed in
monetary terms, which now or at any time hereafter may be or become due or owing to the
Chargor arising from any contract concluded, or to be concluded at any time after the date
of this Agreement, between the Chargor and any other person in connection with the Chargor’s
commercial activities.

	18.2	 	Construction     

	 	18.2.1  	 	Headings are for convenience of reference only.     
	 
	 	18.2.2  	 	Where the context so permits, the singular includes the plural and vice versa.     
	 
	 	18.2.3	 	Save where the contrary is indicated, any reference in this Agreement to the
“Chargee”, the “Chargor”, the “Secured Party”, a “Loan Party” or a “Lender” shall be
construed so as to include its (or their) respective successors, transferees and
assignees from time to time and any successor of such a successor, transferee or
assignee in accordance with its (or their) respective interests.
	 
	 	18.2.4	 	The Parties agree and confirm that any person becoming a transferee of any
rights and obligations of the Collateral Agent under the First Lien Intercreditor
Agreement shall thereupon become entitled to the benefit of the provisions contained
herein as if it had originally been and had been named as a party hereto.
	 
	 	18.2.5	 	References to Clause and Schedule shall, subject to any indication to the
contrary, mean the respective Clause and Schedule of this Agreement.
	 
	 	18.2.6	 	References to the Credit Agreement, the First Lien Intercreditor Agreement,
the other Loan Documents, this Agreement or any other agreement or document shall,
where applicable, be deemed to be references to such Credit Agreement, the First Lien
Intercreditor Agreement, other Loan Documents, this Agreement or such other agreement
or document as the same may have been, or may from time to time be, amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or otherwise
modified from time to time, as persons may accede thereto as a party or withdraw
therefrom as a party in part or in whole or be released thereunder in part or in whole,
and as facilities and financial services are or may from time to time be granted,
extended, prolonged, increased, reduced, cancelled, withdrawn, amended, restated,
supplemented, restructured, refunded, replaced, modified, renewed or novated
thereunder.
	 
	 	18.2.7	 	Any amount will be deemed irrevocably paid in full if it has been paid in
full and there is no evidence such as to give a reasonable belief that any claim will
be brought to revoke such payment.

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	 	18.2.8	 	References to any element of the legislation, statute, act, law, regulation
or any provision thereof shall, where applicable, be deemed to be references to that
element of the legislation, as amended or re-enacted.
	 
	 	18.2.9	 	This Agreement is subject to the terms of the Intercreditor Arrangements. In
the event of a conflict between the terms of this Agreement and the Intercreditor
Arrangements, the terms of the Intercreditor Arrangements will prevail.

	19.	 	CREATION OF THE FLOATING CHARGE
	 
	19.1	 	The Floating Charge
	 
	 	 	In order to secure the Obligations, up to the maximum amount of:

	 	(i)	 	USD 2,280,000,000 (that is two billion two hundred and eighty million U.S.$ and
EUR 780,000,000 (that is seven hundred and eighty million euro) (the “Secured
Principal”); plus
	 
	 	(ii)	 	all accrued interest (as calculated in accordance with Loan Documents); plus
all accrued default interest (as calculated in accordance with Loan Documents); plus
any other amounts, monetary obligations, indemnities, fees, commissions, costs and
expenses arising under and payable in accordance with the terms of the Loan Documents,
which amounts, monetary obligations, indemnities, fees, commissions, costs, expenses,
and the costs of the enforcement of this Agreement shall not exceed an aggregate amount
representing 40% of the aggregate amount of Secured Principal,
	 
	 	the Chargor hereby grants to the Chargee a first ranking (“első ranghelyű”) floating charge
over its Charged Assets.
	 
	 	The Chargee hereby accepts such Floating Charge.

	19.2	 	Registration

	 	19.2.1	 	The Floating Charge constituted by this Agreement enters into full force and
effect as of the date of its execution by the Parties in the form of a notarial deed
and its registration in the Registry of Charges, therefore the Parties hereby request
the registration of the Floating Charge in the Registry of Charges.
	 
	 	19.2.2	 	Subject to the terms of the Loan Documents and the Agreed Security
Principles, the Chargor undertakes to meet all costs incurred in connection with the
notarial deed and the registration procedure set out in Clause 2.2.1 above and consents
to the entry of the Floating Charge established herein in the Registry of Charges for
the benefit of the Chargee.
	 
	 	19.2.3	 	The Parties request that the existence and registration of the Floating
Charge shall be certified by a certification (“tanúsítvány”) to be issued by the
relevant public notary following the execution and registration of the Floating Charge
created hereunder.

	19.3	 	Nature of the Floating Charge

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         The Floating Charge constituted by, and pursuant to, this Agreement shall:

	 	(a)	 	subject to any Lien permitted by the Loan Documents, be a first ranking
security over the Charged Assets;
	 
	 	(b)	 	to the extent permitted by Hungarian law, be of the nature of “framework
security” (“keretbiztosítéki jellegű”), the maximum amount of which is the sum set out
under Clause 2.1 (The Floating Charge);
	 
	 	(c)	 	be a continuing security for the payment, satisfaction and discharge in full
of the Obligations and shall not be considered as satisfied or discharged or prejudiced
by any intermediate payment, satisfaction or settlement of any part of the Obligations
unless and until discharged by the Chargee;
	 
	 	(d)	 	be in addition to and shall not operate so as in any way to prejudice or
affect or be prejudiced or affected by any security, encumbrance, guarantee,
suretyship, indemnity or other right or remedy which the Chargee or any other Secured
Party (or any person on their behalf) may now or at any time hereafter hold for or in
respect of the Obligations or any part thereof; and
	 
	 	(e)	 	not be prejudiced by any time or indulgence granted to any person, or any
abstention or delay by the Chargee or any other Secured Party (or any person on their
behalf) in perfecting or enforcing any security, encumbrance, guarantee, suretyship,
right or remedy that the Chargee or any other Secured Party (or any person on their
behalf) may now or at any time hereafter have from or against the Loan Parties.

	20.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS
	 
	20.1	 	Representations and Warranties
	 
	 	 	In addition and without prejudice to those representations and warranties made by or in
respect of the Chargor herein or in any other Principal Finance Document, the Chargor hereby
represents and warrants that on the date of this Agreement with reference to the facts and
circumstances then existing, and subject to the provisions of the Principal Finance
Documents.

	 	(f)	 	it is the sole owner of the Charged Assets, subject to any Liens permitted by
the Principal Finance Documents and it has not sold, transferred or otherwise disposed
of, nor has it agreed to sell, transfer or otherwise dispose of, any or all of its
rights in the Charged Assets to any third person, in each case other than as permitted
by the Principal Finance Documents or this Agreement;
	 
	 	(g)	 	the representations and warranties made by the Chargor as Loan Party in
Section 3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.06
(No Material Adverse Change), 3.09 (Litigation, Compliance with Laws), 3.10
(Agreements), 3.19 (Security Documents) and 3.22 (Solvency) of the Credit Agreement are
true and accurate as regards the Chargor and this Agreement;

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	 	(h)	 	except in respect of Liens permitted by the Principal Finance Documents, it
has not reserved a ranking position in respect of any of the Charged Assets (as
regulated by sections 262 (4), 262 (5) and 264 (2) of the Civil Code);
	 
	 	(i)	 	subject to any Liens permitted by the Principal Finance Documents and subject
to the Legal Reservations (as defined in the Credit Agreement), this Agreement,
together with the act of registration in the Registry of Charges, as set out in Clause
2.2 (Registration) above constitutes a valid first ranking Floating Charge over the
Charged Assets in favour of the Chargee;
	 
	 	(j)	 	it has not granted any Lien that would have an adverse effect on the validity
and enforceability of security constituted by this Agreement, other than as permitted
by the Principal Finance Documents; and
	 
	 	(k)	 	it has not taken any action and has used reasonable endeavours to prevent any
of its authorised signatories from taking any action that would have an adverse effect
on the validity and enforceability of security constituted by this Agreement, other
than as permitted by the Principal Finance Documents.

	 	 	The representations and warranties set out in this Clause 20.1 shall be deemed to be
repeated as true and correct in all material respects on the date of a Credit Event (as
defined in the Credit Agreement) during the continuance of this Agreement.
	 
	20.2	 	Covenants
	 
	 	 	In addition and without prejudice to those covenants, undertakings, commitments and
obligations made by or in respect of the Chargor herein or in any other Loan Document, the
Chargor hereby covenants that, so long as this Agreement shall be in force, it shall:

	 	(l)	 	not take or omit to take any action the taking or omission of which would
result in the alteration or impairment of any rights of the Chargee under the Floating
Charge which would have an adverse effect on the validity and enforceability of the
security hereunder except if such actions or omissions are permitted by the Principal
Finance Documents;
	 
	 	(m)	 	in each case subject to the Agreed Security Principles, from time to time
execute such documents and do all such acts and things as the Chargee may require
(acting on the reasonable instruction of the Applicable Representative) from time to
time to create, perfect or protect the Floating Charge or any part thereof or to
facilitate the realisation of the Floating Charge or any part thereof and as are
required (acting on the reasonable instruction of the Applicable Representative) in
the exercise of all powers, authorities and discretions vested in the Chargee pursuant
to this Agreement in respect of the Floating Charge or any part thereof;
	 
	 	(n)	 	promptly notify the Chargee of any event or circumstance of which the Chargor
is aware which would (i) materially and adversely affect, alter or impair the Chargee’s
rights relating to the validity and enforceability of the security created under or
pursuant to this Agreement, (ii) materially and adversely affect, alter or impair the
Chargee’s rights under or pursuant to this Agreement in relation to

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	 	 	 	the filing of a
petition for the bankruptcy (“csődeljárás”) or insolvency (“felszámolási eljárás”) of
the Chargor, the initiation of an execution in respect of the Charged Assets in
accordance with the Court Enforcement Act or similar
laws applicable in other jurisdictions, the termination of the Chargor’s commercial
activities or the winding up of the Chargor (unless the termination of the
Chargor’s commercial activities or the winding up of the Chargor is permitted by
the Principal Finance Documents);
	 
	 	(o)	 	except in respect of Liens permitted by the Principal Finance Documents, not
reserve a priority ranking or position (as applicable) in respect of any of the Charged
Assets under section 264 (2) of the Civil Code; and
	 
	 	(p)	 	except in respect of any Liens permitted by the Principal Finance Documents
and subject to the Legal Reservations (as defined in the Credit Agreement) and the
Agreed Security Principles, ensure that the Floating Charge created hereunder shall be
at all times a first ranking Floating Charge over the Charged Assets and that it shall
not grant any further Lien over the Charged Assets, shall not sell, transfer or
otherwise dispose of any or all of its rights in the Charged Assets (whether with or
without consideration) and shall not lease the Charged Assets, other than as permitted
under the Principal Finance Documents.

	21.	 	CHARGEE’S RIGHTS
	 
	21.1	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to
act on the instructions of the Applicable Representative in accordance with clause 2.02(a)(i)
of the First Lien Intercreditor Agreement. It is further acknowledged that the Collateral
Agent may assume that any and all instructions received by it from the Applicable
Representative under this Agreement are reasonable, and that any question as to the
reasonableness or otherwise of such instructions shall be determined as between the Applicable
Representative and the Chargor.
	 
	21.2	 	The Chargor acknowledges and agrees that the Collateral Agent’s actions under this
Agreement are on the basis of authority conferred under the Principal Finance Documents to
which the Collateral Agent is a party, and on directions of the Applicable Representative. In
so acting, the Collateral Agent shall have the protections, immunities, rights, indemnities
and benefits conferred on a collateral agent under the Principal Finance Documents.
	 
	21.3	 	The powers conferred by this Agreement on the Chargee in relation to the Charged
Assets or any part thereof shall be in addition to and not in substitution for the rights
conferred on the Chargee by applicable law except insofar as they are excluded by this
Agreement and, where there is any ambiguity or conflict between the rights contained in any
such applicable law and those conferred by this Agreement, then the terms of this Agreement
shall prevail to the extent permitted by such law.
	 
	21.4	 	The Chargee shall be entitled, subject to the Agreed Security Principles, the terms
of the Principal Finance Documents and this Agreement (and the reasonable instruction of the
Applicable Representative), at any time to take any such action permitted under the relevant
laws as it in its discretion thinks fit for the purpose of protecting the Floating

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	 	 	Charge. For
the avoidance of doubt, enforcement action shall be governed by Clause 22 of this Agreement.
	 
	21.5	 	Subject to Section 4.05 of the First Lien Intercreditor Agreement, the Chargee may,
at any time and from time to time, delegate by power of attorney to any person all or any of
the rights conferred on it by this Agreement which are for the time being exercisable by the
Chargee hereunder in relation to the Charged Assets or any part thereof and the Chargee shall
inform the Chargor of such delegation or appointment of a delegate.
	 
	21.6	 	The Chargee does not need, before it exercises any of the rights conferred upon it
by this Agreement or by law, to (i) initiate proceedings or obtain a judgement against the
Chargor or any other person in any court; (ii) make or file a claim in a bankruptcy or
liquidation with respect to the Chargor or any other person; or (iii) enforce any of its
rights in respect of any part of the Obligations, except as expressly required by Hungarian
law from time to time.
	 
	21.7	 	If a Material Deterioration occurs, the Chargee is entitled to initiate the
Crystallisation of the Floating Charge provided that: (a) it has requested in writing for the
Chargor (i) to repair the Charged Assets or (ii) provide additional security, in either case
to the extent that the value of the Charged Assets after such repair or provision of
additional security will not constitute a Material Deterioration, within reasonable timeframe
and the Chargor has failed to cure the Material Deterioration in such manner and within such
timeframe, however, such a Crystallisation shall not constitute a “Crystallisation” for the
purposes of Clause 5; (b) with respect to movable assets only fixed charges and no possessory
pledges may be created; and (c) with respect to a charge over rights and/or claims of the
Chargor, the Crystallisation may only be notified to debtors of the relevant rights or claims
within the Group (other debtors shall be notified only upon the occurrence of an Enforcement
Event).
	 
	22.	 	ENFORCEMENT
	 
	22.1	 	The Chargor hereby acknowledges that if an Enforcement Event has occurred the Chargee
becomes immediately entitled to enforce the Floating Charge as set out in this Clause 22.
	 
	22.2	 	The Chargee confirms that unless the Chargee is exercising its rights under Clause
5.1 above, the Chargor shall be entitled to exercise all or any of its rights in the Charged
Assets in its normal course of business, or as permitted by the Principal Finance Documents,
provided that an Event of Default has not occurred and is continuing.
	 
	22.3	 	The Chargee can enforce the Floating Charge (i) via Crystallisation or (ii) without
Crystallisation.
	 
	22.4	 	The Chargor:

	 	(q)	 	acknowledges that if the Floating Charge is being crystallised into a real
estate mortgage, upon receipt by the Chargor of the Crystallisation Notice, the Chargee
is entitled to apply for the registration of the real estate mortgage in the relevant
Land Registry. The Chargor undertakes to provide the Chargee, upon its request, as soon
as practicable, but in any event within ten (10) Business

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	 	 	 	Days, with all documents
necessary for the registration of the real estate mortgage;
	 
	 	(r)	 	acknowledges that if the Floating Charge is being crystallised into a fixed
charge over moveable assets, upon receipt by the Chargor of the Crystallisation Notice,
the Chargee is entitled to apply for the registration of the fixed charge over moveable
assets in the Registry of Charges. The Chargor undertakes to provide the Chargee, upon
its request, as soon as practicable, but in any event within ten (10) Business Days,
with all documents necessary for the registration of the fixed charge over moveable
assets;
	 
	 	(s)	 	shall, if the Floating Charge is being crystallised into a possessory pledge
over moveable assets, deliver to the Chargee as soon as practicable, but in any event
within ten (10) Business Days, the moveable assets on which a possessory pledge is
created upon the Crystallisation;
	 
	 	(t)	 	acknowledges that if the Floating Charge is being crystallised into a charge
over rights and/or claims, after the Crystallisation the Chargee is entitled to notify
the debtors of the relevant right(s) and/or claim(s) of the Crystallisation (by sending
a copy of the Crystallisation Notice). The Chargor undertakes, upon request, to provide
the Chargee as soon as practicable, but in any event within ten (10) Business Days,
with all documents necessary or desirable to enforce the charge, including a
comprehensive list of its then existing debtors.

	22.5	 	The Crystallisation of the Floating Charge into a real estate mortgage, a fixed
charge over moveable assets, a possessory pledge over moveable assets or charge over rights
and/or claims shall be effective against third parties at the time when:

	 	(u)	 	such a real estate mortgage has been registered at the relevant Land Registry;
	 
	 	(v)	 	such a fixed charge over moveable assets has been registered at the Registry
of Charges;
	 
	 	(w)	 	the Chargor delivers to the Chargee the moveable assets upon the request of
the Chargee; or
	 
	 	(x)	 	where required by law, such a charge over rights and/or claims has been
registered at the appropriate registry, the debtors of such rights and/or claims of the
Chargor have been notified on the creation of such charge, or, in any other case, upon
Crystallisation

	 	 	((a)-(d) together are hereinafter referred to as the “Individual Encumbrances” and
“Individual Encumbrance” means any of them.)
	 
	22.6	 	Registration in the relevant registries may only occur upon the attachment of the
following documents to the application for registration:

	 	(y)	 	a certified office copy of the original notarial deed of this Agreement;
	 
	 	(z)	 	a notarial certification (tanúsítvány) of the registration of the Floating
Charge;

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	 	(aa)	 	the Crystallisation Notice which has been made in the form of a notarial
deed; and
	 
	 	(bb)	 	original evidence (or notarised copy thereof) of the delivery of the
Crystallisation Notice to the Chargor.

	22.7	 	After Crystallisation the Chargee shall become immediately entitled to enforce any
or all of the Individual Encumbrances. The Chargee is entitled to choose, in any order, those
assets against which it wishes to take satisfaction.
	 
	22.8	 	The Chargee reserves the right to request that the Charged Assets be placed in its
possession once its right to satisfaction has become available. The Chargor shall tolerate
satisfaction being taken from the Charged Assets and in order to do this, it shall provide the
Chargee with unrestricted access to its premises to allow the Chargee to select assets.
The Chargor undertakes that if so requested by the Chargee, the Chargor will deliver,
within a reasonable period, the Charged Assets to the person and within the period specified
in such a request and that it shall not consider such seizure proceedings as undue
interference with its possession of the assets.
	 
	22.9	 	The Chargee can enforce the Floating Charge or the Individual Encumbrances created
pursuant to the Crystallisation (as set out above), by way of:

	 	(cc)	 	court enforcement proceedings (as set out in Section 255 (1) of the Civil
Code); or
	 
	 	(dd)	 	simplified court enforcement proceedings (as set out in Section 257 (4) of
the Civil Code); or
	 
	 	(ee)	 	selling the Charged Assets by the Chargee (pursuant to the provisions of
Section 257 (2) of the Civil Code); or
	 
	 	(ff)	 	if the Chargee so elects, instructing a Hungarian institution engaged in
granting charge-backed loans or arranging auctions as its main business (as set out in
Section 257 (3) of the Civil Code), to sell the Charged Assets, which sale shall be
affected by a public auction to the highest bidder; or
	 
	 	(gg)	 	joint sale by the Chargee and the Chargor.

	22.10	 	If the Chargee elects to conduct the enforcement pursuant to Clause 22.9 (a) in
accordance with Sections 10(b), 20 and 21 of the Court Enforcement Act, then it shall become
immediately entitled to enforce the Floating Charge upon the occurrence of an Enforcement
Event I.
	 
	22.11	 	If the Chargee elects to conduct the enforcement in accordance with any other
enforcement method available under Clause 22.9, then it shall become immediately entitled to
enforce the Floating Charge if an Enforcement Event has occurred.
	 
	22.12	 	For the avoidance of any doubt, the Chargee is entitled to switch from any
enforcement method available under Clause 22.9 to another method thereunder if it (acting on
the reasonable instruction of the Applicable Representative) determines that the selected
mechanism is or likely to be unsuccessful or inefficient.

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	22.13	 	The Parties hereby agree that without prejudice to the provisions of Clause 22.9
above, if an Enforcement Event has occurred, at the request of the Chargee, the Parties will
enter
into negotiations in good faith regarding the possible acquisition of any or all of the
Charged Assets by the Chargee.
	 
	22.14	 	If the enforcement is conducted in accordance with Clause 22.9 (c), (d) or (e),
then the sale of any of the Charged Assets is subject to the following conditions: (i) the
bidder must offer a minimum purchase price representing at least 65% of the fair market value
(the “Value”) (as determined by an independent expert of international repute (the “Expert”),
which Expert is to be selected in accordance with Clause 5.20 below) of each of the
crystallised assets (in case the Chargee elected to enforce the Floating Charge via
Crystallisation), or 65% of the Value (as determined by the Expert) of all of its assets (in
case the Chargee elected to enforce the Floating Charge without Crystallisation) and (ii) the
sale must be completed within twelve (12) months of the Chargor receiving a written notice
from the Chargee of its intention to proceed with the sale of any of the Charged Assets. If no
offers are made at such rate during the period of twelve (12) months, then the Charged Assets
shall be sold at least at the highest bid offered but at least at 50% of the Value (as
determined by the Expert) within twelve (12) months. For the avoidance of doubt the Chargee
shall be considered to have acted reasonably when it accepts the highest bid offered during
the sale for the Charged Assets in accordance with the terms above.
	 
	22.15	 	If the Floating Charge or any Individual Encumbrance is enforced by simplified
court enforcement proceedings, in accordance with Section 204/B to 204/H of Court Enforcement
Act, and with Clause 5.9 (b) above, then the minimum purchase price of the Charged Assets
shall be at least 65% of the Value.
	 
	22.16	 	The Chargor shall, upon the request of the Chargee, if an Enforcement Event has
occurred, as soon as practicable, but in any event within ten (10) Business Days, deliver any
document relating to the Charged Assets, which is required by the Chargee for the purposes of
exercising its rights under this Agreement. The Chargor may request to receive a copy of the
valuation report obtained from the Expert by the Chargee in respect of the Charged Assets and
the Chargee shall provide the same to the Chargor where the Chargee requests it (acting on the
reasonable instruction of the Applicable Representative). The appointed Hungarian institution
under Clause 22.9 (d) above is entitled to request all necessary documents for the sale from
the Chargor and the Chargor must, as soon as practicable, but in any event within ten (10)
Business Days, deliver such documents to that institution accordingly.
	 
	22.17	 	The Chargee shall within fifteen (15) days before the sale notify the Chargor in
writing of (i) the method, (ii) the place and (iii) the date of such sale. The Chargee hereby
confirms that it will comply with the provisions of Government Decree No. 12/2003 (I. 30.),
including but not limited to notifying the Chargor of its intention to sell the Charged
Assets, at least thirty (30) days before the intended sale.
	 
	22.18	 	The Chargee shall utilise the proceeds of any sale of the Charged Assets under this
Clause 22 and shall return the surplus amounts, if any, in accordance with the provisions of
the First Lien Intercreditor Agreement.

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	22.19	 	No purchaser or other person shall be bound or concerned to see or enquire whether
the right of the Chargee to exercise any of the powers hereby conferred has arisen, nor be
concerned with notice to the contrary or with the propriety of the exercise or purported
exercise of such powers.
	 
	22.20	 	The procedure of the appointment of the Expert is the following: the Chargee may
propose three (3) internationally recognised, independent experts and the Chargor may, in its
own discretion, elect one of these Experts at the cost of the Chargor. If the Chargor fails to
appoint the Expert within five (5) Business Days from the proposal of the Chargee, the Chargee
may appoint the Expert in its sole discretion.
	 
	23.	 	GENERAL PROVISIONS
	 
	23.1	 	Separate Agreements
	 
	 	 	This Agreement shall be construed so as to constitute a separate security agreement between
the Chargor on the one hand and the Chargee on the other hand and if such separate agreement
between the Chargor and the Chargee becomes invalid or unenforceable, is terminated,
rescinded, released, void, voidable, amended, restated, renewed, novated, supplemented or
otherwise affected, the obligations of the Chargor is satisfied or any of the rights of
Chargee created thereby is ineffective, the foregoing shall, to the fullest extent permitted
by law, not affect the validity or enforceability of any of the other agreements between the
Chargor on the one hand and the Chargee on the other hand.
	 
	23.2	 	Immediate Recourse
	 
	 	 	To the fullest extent allowed by applicable law, the Chargor waives any right it may have of
first requiring the Chargee to proceed against or claim payment from any other person or
entity or enforce any guarantee, suretyship or security granted by any other person or
entity before enforcing this Agreement and/or its rights hereunder or pursuant hereto.
	 
	23.3	 	Certificates

	 	(c)	 	A certificate (including but not limited to the Declaration) signed by any
duly authorised officer of the Chargee setting forth any amount due to the Secured
Parties from either of the Chargor and/or the Loan Parties in respect of any part of
the Obligations as well as the occurrence of an Event of Default which is continuing
shall be prima facie evidence of such amount against the Loan Parties and the Chargor
except in case of manifest error or fraud on the part of the Chargee.
	 
	 	(d)	 	The Chargor hereby acknowledges that after the occurrence of an Event of
Default which is continuing the Chargee shall be entitled to incorporate such
certificate, setting out the outstanding amount of all or any part of the Obligations
in a notarial certificate (in Hungarian: “ténytanúsítvány“/“ténytanúsító okirat”), the
costs of which are to be borne in accordance with the Principal Finance Documents. The
Chargor accepts any notarial certificate issued according to this Clause as prima facie
evidence except in case of manifest error or fraud on the part of the Chargee.

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	23.4	 	Discharge
	 
	 	 	Where any discharge (whether in respect of this Agreement, or other Security Document for
the Obligations or otherwise) is made in whole or in part or any arrangement is made on the
faith of any payment, security or other disposition which is subsequently avoided or must be
restored on bankruptcy (“csődeljárás”), insolvency (“felszámolási eljárás”) or otherwise
without limitation, the liability of the Chargor under this Agreement and the rights of the
Chargee created hereby and pursuant hereto shall continue as if there had been no discharge
or arrangement. The Chargee shall be under no obligation to challenge, contest or otherwise
take any steps to remedy any avoidance of any payment, security or other disposition or the
restoration thereof by any liquidator, receiver or similar officer on bankruptcy, insolvency
or otherwise.
	 
	24.	 	REMEDIES AND WAIVERS
	 
	 	 	No failure on the part of the Chargee to exercise, and no delay on its part in
exercising, any right or remedy under this Agreement will operate as a waiver thereof, nor
will any single or partial exercise of any right or remedy preclude any other or further
exercise thereof or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or remedies
provided by applicable law, the Credit Agreement or any other Loan Documents.
	 
	25.	 	SEVERABILITY
	 
	 	 	If any of the terms hereof is or becomes invalid or unenforceable (or the security
purported to be created hereunder or pursuant hereto are ineffective) for any reason under
the laws of any jurisdiction or in relation to the Chargor, such invalidity or
unenforceability shall, to the fullest extent possible under applicable law, not affect its
validity or enforceability in any other jurisdiction or invalidate or make unenforceable any
other term hereof. The Parties hereto agree that they will negotiate in good faith to
replace any provision hereof held invalid, illegal or unenforceable with a valid, legal and
enforceable provision which is as similar as possible in substance to the invalid, illegal
or unenforceable provision.
	 
	26.	 	ATTORNEY
	 
	 	 	To the fullest extent permitted by applicable law, the Chargor hereby appoints the
Chargee, such appointment being made for the benefit of the Chargee and the other Secured
Parties represented by the Chargee and shall be effective if an Enforcement Event has
occurred to be its true and lawful attorney (with full power of substitution and delegation)
for and on behalf of the Chargor and in its name or in the name of the Chargee and as the
Chargor’s attorney in act and deed to sign, execute, seal, deliver, acknowledge, file,
register and perfect any and all such assurances, documents, instruments, agreements
(including any agreements to which the Chargee itself is a party) certificates and consents
and to do any and all such acts and things as the Chargor itself could do in relation to the
Charged Assets or in relation to any matters dealt with in this Agreement and which the
Chargee may, (upon the reasonable instruction of the Applicable Representative), deem to be
necessary in order to give full effect to the purposes of this Agreement. The Chargor will
ratify and confirm whatever the Chargee

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	 	 	shall do or cause to be done in pursuance of the powers conferred to it hereunder. For the
avoidance of any doubt, this Clause constitutes the express consent of the Chargor to the
appointment of the Collateral Agent as its representative for the purposes of Article 221
(3) of the Civil Code except that the Collateral Agent shall not be entitled to conclude or
amend any agreement between the Chargor and any of the Secured Parties or to waive any
rights of the Chargor against any of the Secured Parties.
	 
	27.	 	TERMINATION
	 
	27.1	 	The security constituted by this Agreement shall be released, re-assigned,
re-transferred and cancelled (as applicable):

	 	(c)	 	by the Collateral Agent (acting on the instructions of the Applicable
Representative) at the request and cost of the Chargor, upon the Obligations being
irrevocably paid or discharged in full and none of the Secured Parties being under any
further actual or contingent obligation to make advances or provide other financial
accommodation to the Chargor or any other person under any of the Loan Documents; or
	 
	 	(d)	 	in accordance with, and to the extent required by, the Intercreditor
Arrangements.

	27.2	 	Upon termination of this Agreement and subject to Clause 10.1, the Chargee shall
promptly (but in any event within fifteen (15) days), at the cost of the Chargor, issue all
certificates or other documents and sign all other documents and do all such acts as are
required by law or requested reasonably by the Chargor in order that this Agreement will be
terminated and the Floating Charge can be deleted from the Registry of Charges.
	 
	28.	 	POWER TO ASSIGN
	 
	 	 	To the fullest extent permitted under the laws of Hungary and subject to the terms of
the Loan Documents, only the Chargee (but not, for the avoidance of doubt, the Chargor
unless otherwise permitted by the Principal Finance Documents) shall be entitled to assign
and/or transfer all or part of its rights and obligations under this Agreement to a
replacement Collateral Agent appointed in accordance with the Principal Finance Document and
the Chargor hereby in advance gives its irrevocable consent to, within the meaning of
Sections 328-331 of the Civil Code, and hereby in advance irrevocably co-operates with any
such assignment and/or transfer (as the case may be) hereunder.
	 
	29.	 	NOTICES
	 
	 	 	Each notice or other communication to be given or made by a Party under this Agreement
shall be given or made in accordance with the First Lien Intercreditor Agreement.
	 
	30.	 	GOVERNING LAW
	 
	 	 	This Agreement and all non-contractual obligations arising from or connected with it
are governed by, and construed in accordance with, Hungarian law.
	 
	31.	 	JURISDICTION

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	 	 	The Parties agree that any dispute arising out of or in connection with this Agreement
(including a dispute regarding the existence, validity or termination of this Agreement or
the consequences of its nullity) (“Dispute”) shall be referred to a Hungarian court in
accordance with the provisions of Act III of 1952 on the code of civil procedure.
	 
	32.	 	LANGUAGE
	 
	 	 	This Agreement shall be executed in English language only. This Agreement may be
translated into Hungarian but in the event of any ambiguity or conflict between the two
versions, the English version shall prevail to the extent permitted by law.
	 
	33.	 	AMENDMENTS

	33.1	 	This Agreement may be amended only by a written instrument executed by the Parties in
the form of a notarial deed.
	 
	33.2	 	With consideration to the forthcoming potential enactment of a new Hungarian civil
code, the Chargor hereby undertakes that, subject to the Agreed Security Principles, upon the
request of the Collateral Agent:

	 	33.2.1	 	it shall agree to an amendment and restatement of this Agreement following
the entry into force of such a new civil code, in order to reflect the provisions
thereof, to the extent such amendment is necessary to preserve the Charge or to clarify
the security position of the Collateral Agent; and
	 
	 	33.2.2	 	it shall enter into good faith negotiations on the amendment and restatement
terms of this Agreement, in order to reflect the provisions of the new civil code,
other than those which are referred to in Clause 16.2.1 above.

	34.	 	APPLICATION FOR REGISTRATION
	 
	 	 	The Chargee and the Chargor hereby jointly request the notary public to register the
Floating Charge created pursuant to this Agreement in the Registry of Charges in favour of
the Chargee, in the maximum amount of the Obligations.

I, the undersigned, Notary substitute having verified the identity, authorisation and contractual
intentions of the Parties and their representatives to enter into this deed, have prepared the
present deed on the basis of the written draft put at my disposal. I have informed the legal
representatives of the parties of the substance of the transaction contemplated hereby and of its
legal consequences. The legal representatives of the parties declared before me that they are fully
aware of the content of the present deed’s draft and confirmed that the content of the present deed
is in full compliance with the contractual intentions of the Parties represented by them and
therefore they requested me not to read the deed out in their presence. Now therefore, the Parties
have executed this deed in my presence through the signatures of their duly authorised legal
representatives.

Executed at the City of Budapest, on the 29th (twentyninth) day of January 2010 (Two
Thousand Ten).

Dr. Horvai-Hillenbrand Péter s.m. CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű
Társaság, Dr. Pelikán Melinda s.m. Wilmington Trust (London) Limited, Dr.
Vető Péter s.m. Notary Substitute, Countersigned: Dr. Stagel Judit s.m. Notary, as permanent
substitute for Dr. Bókai Judit Notary

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SCHEDULE 1

Part I

Credit Agreement

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Part II

Senior Secured Note Indenture

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Part III

First Lien Intercreditor Agreement

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SCHEDULE 2

MACHINERY AND EQUIPMENT

	 	 	 	 	 	 	 
	Tag Number	 	Asset Identification
Number	 	Description
	2531541B000400

	 	 	40005056	 	 	Cooling system
	2531631C026600

	 	 	40005748	 	 	Omnilok tooling set
	2531631C026700

	 	 	40005749	 	 	Omnilok tooling set

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SCHEDULE 1

Part I

Credit Agreement

(TO BE INSERTED)

-38-

 

Part II

Senior Secured Note Indenture

(TO BE INSERTED)

-39-

 

Part III

First Lien Intercreditor Agreement

(TO BE INSERTED)

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SCHEDULE 2

Form of Crystallisation Notice

[to be incorporated in a notarial deed]

			
	To:	 	 CLOSURE SYSTEMS INTERNATIONAL HOLDINGS HUNGARY VAGYONKEZELÕ KORLÁTOLT
FELELÕSSÉGÛ TÁRSASÁG as Chargor

			
		 	Notary Public

We, the undersigned duly authorised representatives of Wilmington Trust (London) Limited as
Chargee, hereby irrevocably issue this Crystallisation Notice pursuant to the Agreement
Constituting Floating Charge dated ______ entered into between the Chargee and the Chargor, to
request the creation of fixed charge over moveable assets, pledge over moveable assets and/or
charge over rights and/or claims of the items constituting the Charged Assets (as those are listed
in the attachment to our present letter) in favour of the Chargee and furthermore hereby
irrevocably request the registration of such charge in the Registry of Charges.

Except as otherwise defined herein, all terms defined in and rules of interpretation set out in the
Agreement constituting Floating Charge made on ______ shall have the same respective meanings when
used herein.

Wilmington Trust (London) Limited

for and on behalf of

the Chargee

[ADDITIONAL NOTARIAL CERTIFICATION INSERTED]

-41-

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