Document:

exv4w517

EXHIBIT 4.517

SIG AUSTRIA HOLDING GMBH

as Pledgor

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent and Pledgee

 

ACCOUNT PLEDGE AGREEMENT

(kontoverpfändung)

 

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of this document) in Austria or sending any e-mail communication
to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any Credit Document to an
Austrian addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original
document as well as all certified copies thereof and written and signed references to it outside of
Austria and avoid printing out any email communication which refers to any Credit Document in
Austria or sending any e-mail communication to which a pdf scan of this document is attached to an
Austrian addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee.

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1.Definitions and Language
	 	 	- 6 -	 
	2.Pledge
	 	 	- 14 -	 
	3.Purpose of the Pledges
	 	 	- 14 -	 
	4.Notice of Pledge
	 	 	- 15 -	 
	5.Pledgor’s Right of Disposal
	 	 	- 16 -	 
	6.Enforcement of the Pledges
	 	 	- 16 -	 
	7.Austrian Limitations on Enforcement
	 	 	- 17 -	 
	8.Undertakings of the Pledgor
	 	 	- 17 -	 
	9.Delegation
	 	 	- 19 -	 
	10.Indemnity
	 	 	- 19 -	 
	11.No liability
	 	 	- 20 -	 
	12.Duration and Independence
	 	 	- 20 -	 
	13.Release (Pfandfreigabe)
	 	 	- 20 -	 
	14.Partial Invalidity; Waiver
	 	 	- 21 -	 
	15.Amendments
	 	 	- 21 -	 
	16.Austrian Stamp Duty
	 	 	- 21 -	 
	17.Notices and their Language
	 	 	- 23 -	 
	18.Applicable Law, Jurisdiction
	 	 	- 24 -	 
	19.Conclusion of this Agreement (Vertragsschluss)
	 	 	- 24 -	 
	Schedule 1
	 	 	- 27 -	 
	Part 1 List of Current Borrowers
	 	 	- 27 -	 
	Part 2 List of Current Guarantors, Current 2009 Senior Secured
Notes Guarantors, Current October 2010 Secured Notes Guarantors and
Current February 2011 Secured Notes Guarantors
	 	 	- 27 -	 
	Part 3 List of Current New Secured Notes Guarantors
	 	 	- 32 -	 
	Schedule 2 List of Accounts
	 	 	- 38 -	 

 

 

	 	 	 	 	 
	Clause	 	Page	 
	Schedule 3 Form of Notice of Pledge
	 	 	- 39 -	 
	Schedule 4 Form of Notification of Future Accounts
	 	 	45  	 
	Schedule 5 Stamp Duty Guidelines
	 	 	47  	 

 

 

     This ACCOUNT PLEDGE AGREEMENT (the “Agreement”) is made on 14 October 2011

     BETWEEN:

	(1)	 	SIG Austria Holding GmbH, having its business address as at the date of this Agreement at
Industriestraße 3 A-5760 Saalfelden, Austria and registered in the company book (Firmenbuch)
of the Republic of Austria under FN 236071 p (the “Pledgor”); and

	(2)	 	Wilmington Trust (London) Limited, a private limited company whose registered number is
05650152 and whose registered office address as at the date of this Agreement is at Third
Floor, 1 King’s Arms Yard, London EC2R 7AF, United Kingdom, in its capacity as collateral
agent under the First Lien Intercreditor Agreement (as defined below) (the “Collateral Agent”
or the “Pledgee”).

     WHEREAS:

	(A)	 	Pursuant to the second amended and restated senior secured multi-currency term and
revolving credit agreement dated 9 August 2011 of currently up to USD 4,445,000,000 and EUR
330,000,000 between, inter alia, the parties listed in Schedule 1 Part 1 hereto as current
borrowers (the “Current Borrowers”), the parties listed in Schedule 1 Part 2 hereto as current
guarantors (the “Current Guarantors”), Credit Suisse AG as administrative agent and others (as
amended, varied, novated, restated, supplemented, superseded or extended from time to time,
the “Second Amended and Restated Credit Agreement”), which amends and restates the
multi-currency term and revolving credit agreement dated 5 November 2009 between, inter alia,
the Current Borrowers and the Current Guarantors, Credit Suisse AG as administrative agent and
others (as amended and restated pursuant to the Second Amended and Restated Credit Agreement
and as further amended, varied, novated, restated, supplemented, superseded or extended from
time to time, hereinafter the “Credit Agreement”), certain lenders (together the “Original
Lenders”) have granted certain facilities to the Current Borrowers and certain other entities
which may accede or may have acceded to the Credit Agreement as additional borrowers.

	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as ultimate issuers (the “Issuers”), certain affiliates of the Issuers listed in Schedule
1 Part 2 hereto as current 2009 senior secured notes guarantors (the “Current 2009 Senior
Secured Notes Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal
paying agent, transfer agent and registrar, (as amended, varied, novated, supplemented,
superseded or extended from time to time, the “2009 Senior Secured Notes Indenture”), the
Issuers have issued senior secured notes due 2016 in the aggregate principal amount of USD

- 3 -

 

	 	 	1,125,000,000 (the “US Secured Notes”) and senior secured notes due 2016 in the aggregate
principal amount of EUR 450,000,000 (the “Euro Secured Notes” and together with the US
Secured Notes the “2009 Senior Secured Notes”) to certain noteholders.

	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia,
RGHL US Escrow I LLC, RGHL US Escrow I Inc., and RGHL Escrow Issuer (Luxembourg) I S.A. as
escrow issuers (the “Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The
Bank of New York Mellon, London Branch as principal paying agent, The Bank of New York Mellon
as collateral agent and Wilmington Trust (London) Limited as additional collateral agent (as
amended, varied, novated, supplemented, superseded or extended from time to time, the “October
2010 Secured Notes Indenture”), the Escrow Issuers have issued secured notes due 2019 in the
aggregate principal amount of USD 1,500,000,000 in escrow (the “October 2010 Secured Notes”).
In connection with the release from escrow of the proceeds of the October 2010 Secured Notes,
which occurred on 16 November 2010, the Escrow Issuers were merged with and into the Issuers,
with each of the Issuers surviving the applicable mergers or other transfers and assuming by
operation of law the obligations of the applicable Escrow Issuers with respect to the October
2010 Secured Notes Indenture and the October 2010 Secured Notes. Certain affiliates of the
Issuers listed in Schedule 1 Part 2 hereto have acceded to the October 2010 Secured Notes
Indenture as current October 2010 secured notes guarantors (the “Current October 2010 Secured
Notes Guarantors”).

	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia,
the Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon,
London Branch as principal paying agent, The Bank of New York Mellon as collateral agent and
Wilmington Trust (London) Limited as additional collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “February 2011 Secured Notes
Indenture”), the Issuers have issued secured notes due 2021 in the aggregate principal amount
of USD 1,000,000,000 (the “February 2011 Secured Notes”) which are guaranteed by certain
affiliates of the Issuers listed in Schedule 1 Part 2 hereto as current February 2011 secured
notes guarantors (the “Current February 2011 Secured Notes Guarantors”).

	(E)	 	The Pledgor has entered into the Existing Account Pledge Agreements (as defined below).

	(F)	 	Pursuant to a senior secured notes indenture dated 9 August 2011 between, inter alia,
RGHL US Escrow II LLC and RGHL US Escrow II Inc. as escrow issuers (the “August 2011 Escrow
Issuers”), The Bank of New York Mellon as indenture trustee,

- 4 -

 

	 	 	The Bank of New York Mellon, London Branch as principal paying agent, The Bank of New York
Mellon as collateral agent and Wilmington Trust (London) Limited as additional collateral
agent (as amended, varied, novated, supplemented, superseded or extended from time to time,
the “New Secured Notes Indenture”), the August 2011 Escrow Issuers have issued senior
secured notes due 2019 in the aggregate principal amount of USD 1,500,000,000 (the “New
Secured Notes”). In connection with the release from escrow of the proceeds of the New
Secured Notes, RGHL US Escrow II Inc. and RGHL US Escrow II LLC were merged with and into
Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC (together with Reynolds Group
Issuer (Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the
obligations of the August 2011 Escrow Issuers were assumed by the August 2011 Ultimate
Issuers pursuant to a supplemental indenture between, among others, the August 2011 Escrow
Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited, as additional collateral agent. At such time certain affiliates of the
August 2011 Ultimate Issuers listed in Schedule 1 Part 3 hereto acceded as current new
secured notes guarantors (the “Current New Secured Notes Guarantors”) to the New Secured
Notes Indenture.

	(G)	 	As a result of the Second Amended and Restated Credit Agreement and the amendment No. 6
and incremental term loan assumption agreement dated 9 August 2011 between, inter alia, the
Current Borrowers, the Current Guarantors, Credit Suisse AG as administrative agent and others
(the “Amendment No. 6 and Incremental Term Loan Assumption Agreement”) certain lenders have
agreed to grant incremental term loans in an aggregate amount of up to USD 2,000,000,000.

	(H)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges existing by
operation of the general business conditions (Allgemeine Geschäftsbedingungen) of the
respective Account Bank (as defined below) and the pledges arising under the Existing Account
Pledge Agreements (as defined below)) over its Accounts (as defined below) as security for the
Pledgee’s respective claims against the Grantors (as defined below) (or any of them) in
respect of the Obligations (as defined below).

	(I)	 	The security created by or pursuant to this Agreement is to be administered by the
Collateral Agent for the Secured Parties (as defined below) pursuant to a first lien
intercreditor agreement dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder
Agreement (as defined below)) between, inter alia, the Collateral Agent, the Indenture
Trustee, the Administrative Agent and the Grantors (each as defined below) and others (as
amended, varied, novated, supplemented, superseded or extended from time to time, the “First
Lien Intercreditor Agreement”).

- 5 -

 

	 	 	NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE

	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“Account Banks” means the credit institutions administering the Accounts and “Account Bank”
means any of them.

	 	 	“Accounts” means all bank accounts (including without limitation giro accounts and accounts
for saving deposits (Spareinlagen), time deposits (Termineinlagen) or call money deposits
(Tagesgeldeinlagen)) which the Pledgor holds at present or may at any time hereafter open
with any credit institution in the Federal Republic of Germany (including without
limitation the accounts listed in Schedule 2 (List of Accounts) and any sub-account
(Unterkonto), renewal, redesignation or replacement thereof, and “Account” means any of
them.

	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its business
address at Eleven Madison Avenue, New York, NY 10010, United States of America in its
capacity as administrative agent under the Credit Agreement and any successor appointed as
administrative agent under the Credit Agreement.

	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January 2010
relating to the First Lien Intercreditor Agreement made among (amongst others) The Bank of
New York Mellon, the Collateral Agent, Credit Suisse AG and Reynolds Group Holdings Limited
pursuant to which the Collateral Agent was appointed as additional collateral agent and
became party to the First Lien Intercreditor Agreement.

	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.

	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A., Citibank
International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets Deutschland
AG & Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any of the
Lender’s or the Administrative Agent’s affiliates (at the time the cash management services
arrangement is entered into) provided in each case it has become a party to, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, the First Lien Intercreditor Agreement in its capacity as cash management bank.

	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management
Bank to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.

- 6 -

 

“Credit Documents” shall mean the Loan Documents, the 2009 Senior Secured Notes Documents,
the October 2010 Secured Notes Documents, the February 2011 Secured Notes Documents and the
New Secured Notes Documents.

“Enforcement Event” shall mean an Event of Default.

“Event of Default” means any event of default (Kündigungsgrund) under the Credit Agreement
and/or the 2009 Senior Secured Notes Indenture and/or the October 2010 Secured Notes
Indenture and/or the February 2011 Secured Notes Indenture and/or the New Secured Notes
Indenture.

“Existing Account Pledge Agreements” means

	 	(a)	 	the account pledge agreement dated 4 March 2010 (as
amended by a confirmation and amendment agreement dated 27 August 2010)
entered into between SIG Austria Holding GmbH as pledgor and Wilmington Trust
(London) Limited as collateral agent and as pledgee and others as pledgees;

	 	(b)	 	confirmation and amendment agreement dated 27 August 2010
and entered into between, inter alios, SIG Austria Holding GmbH as pledgor and
Wilmington Trust (London) Limited as collateral agent relating to an account
pledge agreement dated 4 March 2010 and entered into between SIG Austria
Holding GmbH as pledgor and Wilmington Trust (London) Limited as collateral
agent and other as pledgees;

	 	(c)	 	the account pledge agreement dated 14 January 2011
entered into between SIG Austria Holding GmbH as pledgor and Wilmington Trust
(London) Limited as collateral agent and as pledgee; and

	 	(d)	 	the account pledge agreement dated 7 June 2011 entered
into between SIG Austria Holding GmbH as pledgor and Wilmington Trust (London)
Limited as collateral agent and as pledgee.

“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11 May
2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007, as
amended and restated on 5 November 2009 and as further amended on 5 November 2010) between,
inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group Holdings Limited
(now Reynolds Group Holdings Limited), Beverage Packaging Holdings (Luxembourg) II S.A.,
Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse AG (formerly Credit
Suisse) as security trustee and others.

“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture, any security document relating to
the February 2011 Secured Notes and/or the February 2011 Secured Notes Indenture and any
other document that may be entered into pursuant to any of the foregoing.

- 7 -

 

“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations of
the Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes
Indenture by the February 2011 Secured Notes Guarantors.

“February 2011 Secured Notes Guarantors” means the Current February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes Indenture as
additional guarantor.

“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.

“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the February 2011 Secured Notes Indenture and any
successor appointed as indenture trustee under the February 2011 Secured Notes Indenture.

“Grantors” means the Loan Parties, the Issuers, the 2009 Senior Secured Notes Guarantors,
the October 2010 Secured Notes Guarantors, the February 2011 Secured Notes Guarantors and
the New Secured Notes Guarantors and any person that has granted a security interest to the
Collateral Agent and/or the Secured Parties in respect of the obligations of the Loan
Parties, the Issuers and the 2009 Senior Secured Notes Guarantors, the October 2010 Secured
Notes Guarantors, the February 2011 Secured Notes Guarantors and the New Secured Notes
Guarantors under the Credit Documents and “Grantor” means any of them.

“Grantors’ Agent” shall mean Reynolds Group Holdings Limited or any other person appointed
as agent of the Grantors in accordance with the Principal Finance Documents.

“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).

“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or the
Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has
entered into a hedging agreement for the purpose of hedging interest rate liabilities
and/or any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

“Incremental Assumption Agreement” shall mean an incremental assumption agreement relating
to incremental facilities of up to USD 2,000,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one or more
Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders pursuant
to which one or more Incremental Term Lenders make available Incremental Term Loan
Commitments and/or one or more Incremental Revolving Credit Lenders make available
Incremental Revolving Credit Commitments respectively.

- 8 -

 

“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.

“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.

“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.

“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.

“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as indenture
trustee under the 2009 Senior Secured Notes Indenture and any successor appointed as
indenture trustee under the 2009 Senior Secured Notes Indenture.

“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the Existing
Intercreditor Agreement, in each case as amended, novated, supplemented, restated, or
modified from time to time.

“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.

“Lenders” shall mean the Original Lenders and any entity which may become a lender under
the Credit Agreement in the future and “Lender” means any of them.

“Loan Documents” shall mean the Credit Agreement, the Amendment No.1 and Joinder Agreement,
the Second Amended and Restated Credit Agreement and the Amendment No. 6 and Incremental
Term Loan Assumption Agreement, any borrowing subsidiary agreement and/or guarantor joinder
agreement relating to the Credit Agreement, any letter of credit or bank guarantee relating
to the Credit Agreement, any security documents relating to the Credit Agreement, any
hedging agreement entered into by a Hedge Counterparty and a Grantor, each Incremental
Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any agreement
between a Grantor and a Cash Management Bank relating to Cash Management Services, each
Local Facility Agreement and any other document that may be entered into pursuant to any of
the foregoing in relation to the Credit Agreement.

“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which may
accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of
them.

“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings

- 9 -

 

(Luxembourg)
II S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l. and the Borrowers) by a
Local Facility Provider and “Local Facility” means any of them.

“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.

“Local Facility Provider” means HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG, Commerzbank
Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of
America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co.,
Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of
America, N.A., provided in each case it has become a party to, or by execution of an
additional bank secured party acknowledgment has agreed to be bound by the terms of, the
First Lien Intercreditor Agreement in its capacity as local facility provider.

“New Secured Notes Documents” shall mean the New Secured Notes Indenture, the New Secured
Notes Guarantees, the New Secured Notes, the Intercreditor Arrangements, any supplemental
indenture, any security document relating to the New Secured Notes and/or the New Secured
Notes Indenture and any other document that may be entered into pursuant to any of the
foregoing.

“New Secured Notes Guarantees” shall mean the guarantees of the obligations of the August
2011 Escrow Issuers and/or of the August 2011 Ultimate Issuers under the New Secured Notes
and the New Secured Notes Indenture by the New Secured Notes Guarantors.

“New Secured Notes Guarantors” means the Current New Secured Notes Guarantors and any
entity which may accede to the New Secured Notes Indenture as additional guarantor.

“New Secured Notes Holders” shall mean the holders from time to time of the New Secured
Notes.

“New Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in its
capacity as indenture trustee under the New Secured Notes Indenture and any successor
appointed as indenture trustee under the New Secured Notes Indenture.

“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity whatsoever) of
each Grantor to the Pledgee under each or any of the Credit Documents (including, but not
limited to, the Parallel Obligations), including with respect to all costs, charges and
expenses incurred by the Pledgee in connection with the protection, preservation or
enforcement of its rights under the Credit Documents or any other document evidencing or
securing any such liabilities. The Obligations shall further include any obligation based
on unjust enrichment (ungerechtfertigte Bereicherung) or tort (Delikt).

“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes Indenture,
the October 2010 Secured Notes Guarantees, the October 2010 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture relating to

- 10 -

 

the October 2010 Secured
Notes Indenture, any security document relating to
the October 2010 Secured Notes and/or
the October 2010 Secured Notes Indenture and any other document that may be entered into
pursuant to any of the foregoing.

“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the October 2010 Secured Notes and the October 2010 Secured Notes Indenture
by the October 2010 Secured Notes Guarantors.

“October 2010 Secured Notes Guarantors” means the Current October 2010 Secured Notes
Guarantors and any entity which may accede to the October 2010 Secured Notes Indenture as
additional guarantor.

“October 2010 Secured Notes Holders” shall mean the holders from time to time of the
October 2010 Secured Notes.

“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the October 2010 Secured Notes Indenture and any
successor appointed as indenture trustee under the October 2010 Secured Notes Indenture.

“Parallel Obligations” means the independent obligations of any of the Grantors arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums
equal to the sums owed by such Grantor to the other Secured Parties (or any of them) under
the Credit Documents.

“Pledge” and “Pledges” have the meanings given to such terms in Clause ý2.1.

“Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture, the February 2011 Secured Notes
Indenture, the New Secured Notes Indenture and the First Lien Intercreditor Agreement.

“Promissory Note” shall mean any promissory note executed and delivered by a Borrower upon
the request of a Lender evidencing the amount of principal owed by such Borrower to such
Lender under the Credit Agreement.

“Secured Parties” shall mean the Lenders (including in their capacity as issuing bank(s)
and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties, the
Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification
obligation undertaken by any Grantor under any Credit Document, the 2009 Senior Secured
Notes Holders, the October 2010 Secured Notes Holders, the February 2011 Secured Notes
Holders and the New Secured Notes Holders, the Indenture Trustee, the October 2010 Secured
Notes Indenture Trustee, the February 2011 Secured Notes Indenture Trustee and the New
Secured Notes Indenture Trustee, the Collateral Agent, the Local Facility Providers and the
Cash Management Banks.

“2009 Senior Secured Notes Documents” shall mean the 2009 Senior Secured Notes Indenture,
the 2009 Senior Secured Notes Guarantees, the 2009 Senior Secured Notes, the Intercreditor
Arrangements, any supplemental indenture, any security document relating to the 2009 Senior
Secured Notes and/or the 2009 Senior Secured Notes

- 11 -

 

Indenture and any other document that
may be entered into pursuant to any of the foregoing.

“2009 Senior Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the 2009 Senior Secured Notes and the 2009 Senior Secured Notes Indenture by
the 2009 Senior Secured Notes Guarantors.

“2009 Senior Secured Notes Guarantors” means the Current 2009 Senior Secured Notes
Guarantors and any entity which may accede to the 2009 Senior Secured Notes Indenture as
additional guarantor.

“2009 Senior Secured Notes Holders” shall mean the holders from time to time of the 2009
Senior Secured Notes.

“Stamp Duty Sensitive Document” shall mean (a) any original of any Credit Document and (b)
any signed document (including email, PDF, TIF and other comparable formats) that
constitutes a deed (Urkunde) within the meaning of section 15 of the Austrian Stamp Duty
Act (as interpreted by the Austrian tax authorities), whether documenting or confirming the
entering into of the relevant transaction (rechtserzeugende Urkunde) or documenting that
the relevant transaction has been entered into (rechtsbezeugende Urkunde), or a substitute
deed (Ersatzurkunde) within the meaning of section 15 of the Austrian Stamp Duty Act (as
interpreted by the Austrian tax authorities), including, without limitation, any notarized
copy, any certified copy and any written minutes recording the transactions
(Rechtsgeschäfte) contemplated by, or referenced in, any Credit Document.

“Stamp Duty Guidelines” means the stamp duty guidelines set out in Schedule 5 (Stamp Duty
Guidelines).

	1.2	 	Construction

	 	 	In this Agreement:

	 	(a)	 	capitalised terms used in this Agreement (or in any notice given under
this Agreement) but not defined therein shall have the meanings ascribed thereto in
the First Lien Intercreditor Agreement;

	 	(b)	 	any reference in this Agreement to a “Clause”, a “sub-Clause” or a
“Schedule” shall, subject to any contrary indication, be construed as a reference to a
Clause, sub-Clause or a Schedule hereof; and

	 	(c)	 	to the extent the word “note” or “Note” is used in any other documents in
relation to this Agreement, it shall be construed as if it were a reference to the
word “notes” or “Notes” as defined and used in this Agreement.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this

- 12 -

 

	 	 	Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	1.4	 	The Pledgor 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 given in accordance with the
Principal Finance Documents. In so acting, the Collateral Agent shall have, subject to the
terms of the Principal Finance Documents, the protections, immunities, rights, indemnities and
benefits conferred on the collateral agent under the Principal Finance Documents.

	1.5	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to
act on the instructions of the other Secured Parties in accordance with Section 2.02(a) 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 other Secured Parties (acting in
accordance with the Principal Finance Documents) under this Agreement are reasonable, and that
any question as to the reasonableness or otherwise of such instructions shall be determined as
between the other Secured Parties (or any one or more representatives of the Secured Parties
acting in accordance with the Principal Finance Documents) and the Pledgor.

	1.6	 	In the case of any references in this Agreement to the Secured Parties acting through the
Collateral Agent or to the Collateral Agent acting for or on behalf of the Secured Parties, it
is acknowledged that the Pledgee and/or the Secured Parties shall at all times be represented
in accordance with the First Lien Intercreditor Agreement and the Collateral Agent act only on
the instructions given in accordance with the First Lien Intercreditor Agreement.

	1.7	 	Solely for the purposes of Clause 16 (Austrian Stamp Duty) and Schedule 5 (Stamp Duty
Guidelines), “written” shall mean that what is “written” was translated into letters
(Buchstaben) that are or can be made visible on a physical or electronic device of whatever
type and format, including paper and screen, and, accordingly, communication, documents or
notices being “in writing” shall include not only paper-form (letter or fax) communication,
documents or notices but also electronic communication, documents or notices, including by way
of e-mail; and “signed” communication, documents or notices refers to written communication,
documents or notices that carry a manuscript, digital or electronic or other technically
reproduced signature, and “signature” shall be construed accordingly.

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	2.	 	PLEDGE

	2.1	 	The Pledgor hereby pledges to the Pledgee all its present and future rights and claims
(whether conditional or unconditional) arising against any Account Bank from or in relation to
any of the Accounts, including without limitation:

	 	(a)	 	all rights and claims in respect of present and future cash deposits
(Guthaben) (including without limitation saving deposits (Spareinlagen), time deposits
(Termineinlagen) (including fixed deposits (Festgeldguthaben) and termination monies
(Kündigungsgelder)) and call money deposits (Tagesgeldeinlagen) (including deposits
for overnight money, tom/next money, spot/next money and money until further notice
(Geld b. a. w.)) standing from time to time to the credit of the Accounts, including
all claims to interest payable;

	 	(b)	 	in respect of each Account maintained as a giro account (Girokonto) at
present or in the future, (i) all claims in respect of present and future credit
balances (positive Salden), (ii) all claims in respect of present and future credit
entries (gutgeschriebene Beträge), (iii) all claims to interest payable and (iv) all
other present and future monetary rights and claims arising under or in connection
with the respective giro agreement (Girovertrag) (including without limitation all
claims to the grant of a credit entry (Gutschriftanspruch); and

	 	(c)	 	in respect of each Account maintained as a current account
(Kontokorrentkonto) at present or in the future, all present and future rights and
claims arising under or in connection with the respective current account agreement
(Kontokorrentabrede) (including without limitation all claims to determination and
acknowledgement of the current account balance (Anspruch auf Saldofeststellung und
-anerkennung), all claims to present and future current account balances
(Saldoforderungen) including the causal final balance (kausaler Schlusssaldo) and the
right to terminate the current account relationship (Kündigung des Kontokorrents)).

	 	 	(the “Pledge” and/or the “Pledges”).

	2.2	 	The Pledgee hereby accepts the Pledges.

	2.3	 	The Pledges are in addition, and without prejudice, to any other security the Secured
Parties may now or hereafter hold in respect of the Obligations.

	3.	 	PURPOSE OF THE PLEDGES

	 	 	The Pledges hereunder are constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledges shall also cover any future

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	 	 	extension of the Obligations and the Pledgor herewith expressly agrees that the provisions
of Section 1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall
not apply to this Agreement.

	4.	 	NOTICE OF PLEDGE

	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but
not later than twenty business days after the date of this Agreement, and, in relation to any
Account opened after the date of this Agreement, within ten business days after such new
Account has been opened, notify each Account Bank and any other relevant third party of the
Pledges by delivering a notification substantially in the form set out in Schedule 3 (Form of
Notice of Pledge) by registered mail (Einschreiben mit Rückschein). The Pledgor shall provide
the Collateral Agent with a copy of each such notification and of the corresponding return
receipt (Rückschein). In addition, the Pledgor shall use all reasonable efforts to procure
that each Account Bank promptly acknowledges receipt of the respective notification, and
acceptance of the terms thereof, to the Collateral Agent and to the Pledgor.

	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 and, in the
case of future Accounts, Clause 8.3, the Pledgor hereby authorises the Collateral Agent and
releases it for this purpose from the restrictions of self-dealing under Section 181 of the
German Civil Code to notify each Account Bank and any other relevant third party on its behalf
of this Agreement and the Pledge constituted hereunder by delivering a notification
substantially in the form set out in Schedule 3 (Form of Notice of Pledge), or in such
substantially similar form as the Collateral Agent (acting on behalf of the Secured Parties)
deems appropriate, provided that the Collateral Agent may only make use of this authorisation
if the Pledgor has not complied with the obligations imposed on the Pledgor in Clause 4.1
within 10 business days of being notified of such failure (with a copy of such notice being
sent to Reynolds Group Holdings Limited) and being requested to comply or if an Enforcement
Event has occurred and is continuing.

	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause
4.1 above whilst an Enforcement Event is not continuing if the Pledgor can prove to the
Collateral Agent (acting on behalf of the Secured Parties) that notifying the relevant Account
Bank of the Pledge created hereunder would not be consistent with, whilst an Enforcement Event
is not continuing, the Pledgor retaining control over and the ability to freely use the
balance of any such Account. The Collateral Agent will not be required to use its discretion,
but will take instructions in accordance with the First Lien Intercreditor Agreement whether
or not to agree with the Pledgor’s analysis under this Clause 4.3. For the avoidance of doubt,
at the date of this Agreement the Pledgor agrees that notifying the Account Banks of the
Pledge created

- 15 -

 

	 	 	hereunder is not inconsistent with the Pledgor retaining control over and the ability to
freely use the balance of any Account existing at the date of this Agreement.

	5.	 	PLEDGOR’S RIGHT OF DISPOSAL

	 	 	The Pledgor may exercise all rights and powers in respect of each Account until the
Collateral Agent gives notice to the contrary to the Account Bank with a copy to the
Pledgor. The Pledgee may give such notice only if an Enforcement Event has occurred and is
continuing.

6. ENFORCEMENT OF THE PLEDGES

	6.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations has
become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on
the instructions of the Secured Parties) may at any time thereafter avail itself of all rights
and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of
Germany.

	6.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to
exercise its rights without obtaining an enforceable judgment or other instrument
(vollstreckbarer Titel). The Pledgee shall be entitled to have the Pledge enforced in any
manner allowed under the laws of the Federal Republic of Germany.

	6.3	 	The Pledgee will notify the Pledgor five business days prior to the enforcement of the
Pledge according to Clause 6. No such notification shall be required if (i) the Pledgor has
generally ceased to make payments (Zahlungseinstellung), (ii) an application for the
institution of insolvency proceedings is filed by or against the Pledgor or (iii) the Pledgee
has reasonable grounds to believe that observance of the notice period will adversely affect
the legitimate interests (berechtigte Interessen) of the Pledgee.

	6.4	 	If the Pledgee (acting on the instructions of the Secured Parties) should seek to enforce
the Pledge pursuant to Clause 6.1 hereof, the Pledgor shall, at its own expense, render
forthwith all necessary assistance in order to facilitate the prompt realisation of the Pledge
and/or the exercise by the Pledgee of any other right it may have as Pledgee.

	6.5	 	The Pledgee may, in its sole discretion, determine which of several security interests
(created under this or other security agreements) shall be used to satisfy the Obligations.

- 16 -

 

	6.6	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der
Anfechtbarkeit) and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of
the German Civil Code.

	6.7	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.

	6.8	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before,
on or after an enforcement of the Pledge, and as a result of the Pledgor entering into this
Agreement, be entitled to demand indemnification or compensation from a Grantor or any
affiliate of a Grantor or assign any of these claims.

	7.	 	AUSTRIAN LIMITATIONS ON ENFORCEMENT

	 	 	The Pledgor and the Pledgee agree that the Pledge shall not be enforced if and to the
extent that such application would violate mandatory Austrian capital maintenance rules
(Kapitalerhaltungsvorschriften) as amended from time to time and as interpreted by the
Austrian Supreme Court from time to time pursuant to Austrian company law, in particular
Sections 82 et seq of the Austrian Act on Limited Liability Companies (Gesetz über
Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of the Austrian
Stock Corporation Act (Aktiengesetz). This limitation on the enforcement of the Pledge
applies from the date this Agreement enters into force as well as on any date until the
termination date of this Agreement, particularly on the date of a possible enforcement of
the Pledge and the payments thereunder.

	8.	 	UNDERTAKINGS OF THE PLEDGOR

	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Pledgor undertakes to the Pledgee:

	8.1	 	subject to Clause 4.3 to use all reasonable efforts to procure that each Account Bank
releases any existing lien, including without limitation any pledge existing by operation of
its general business conditions (Allgemeine Geschäftsbedingungen), and waives any right of
set-off and right of retention in respect of the Accounts by countersigning and returning an
acknowledgement of notice of pledge substantially in the form set out in Schedule 3 (Form of
Notice of Pledge) to the Pledgor and the Pledgee;

- 17 -

 

	8.2	 	to instruct each Account Bank to provide the Pledgee following receipt by the relevant
Account Bank of a notice pursuant to Clause 5 with all information requested by it in respect
of the Accounts and to that extent to release each Account Bank from its obligation to
maintain confidentiality (Bankgeheimnis) by delivering a notice of pledge to the respective Account Bank in accordance with the requirements set out in Clause
4.1 or, in the case of any future Account, Clause 8.3. The Pledgor undertakes not to
revoke such instruction during the term of this Agreement, other than in respect of an
Account which is closed or disposed of in accordance with the terms of the Credit
Documents;

	8.3	 	to notify the Pledgee without undue delay substantially in the form set out in Schedule 4
(Form of Notification of Future Accounts) of each new bank account opened by the Pledgor with
a credit institution in the Federal Republic of Germany in accordance with Clause 4 above.
For the avoidance of doubt, the Pledgor is aware that any new bank account opened within the
Federal Republic of Germany will become an Account in the meaning of this Agreement upon
notice to the Account Bank and will be subject to the Pledge and the obligations assumed by
the Pledgor hereunder without any further agreement;

	8.4	 	to close any of the Accounts only upon giving 5 business days prior notice to the Pledgee
and provided that the Pledgee has not given a notice pursuant to Clause 5;

	8.5	 	to deliver to the Pledgee, within three months after the end of each calendar year ending
after January 2012, and at any time upon reasonable request of the Pledgee, up-to date account
statement sheets (Kontoauszüge) showing the balance on each of the Accounts, provided that the
Pledgee shall not request such information more than one additional time in any one year prior
to the occurrence of an Enforcement Event that is continuing;

	8.6	 	with regard to any account books (Sparbücher) and any other documents which are necessary
to dispose over (verfügen) any of the Accounts, the Pledgor undertakes to deliver the
originals of such documents to the Pledgee without undue delay if the Pledgee has given a
notice pursuant to Clause 5 and to deliver to the Pledgee upon its reasonable request
following such event without undue delay any documents or other information concerning the
Accounts, in particular (but not limited to) the account opening documents and any agreements
between the Account Bank and the Pledgor in relation to the Accounts;

	8.7	 	not to grant to any third party any rights in respect of the Accounts (keine Und-Konten
oder Oder-Konten oder sonstige Rechte Dritter) (other than those arising under the relevant
Account Bank’s general business conditions (Allgemeine Geschäftsbedingungen) and under the
Existing Account Pledge Agreements) without

- 18 -

 

	 	 	the prior written consent of the Collateral Agent
(as instructed in accordance with the Principal Finance Documents) (such consent not to be
unreasonably withheld);
	 
	8.8	 	to inform the Pledgee without undue delay of any attachment (Pfändung) and any third
parties bringing claims in respect of any of the Accounts, such notice to be accompanied by any documents the Pledgee might need to defend itself against any claim by a
third party. In the case of any attachment (Pfändung) in respect of any of the Accounts,
the Pledgor undertakes to forward to the Pledgee without undue delay a copy of the
attachment order (Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all
other documents necessary for a defence against the attachment. The Pledgor shall inform
the attaching creditor of the Pledge without undue delay;
	 
	8.9	 	except as otherwise agreed pursuant to the Principal Finance Documents, insofar as
additional declarations or actions are necessary for the creation of the Pledge, the Pledgor
shall, at the Collateral Agent’s reasonable request (acting on the reasonable instructions of
the Secured Parties), make such declarations and undertake such actions at the Pledgor’s costs
and expenses; and
	 
	8.10	 	for the avoidance of doubt, notification and delivery requirements as set out in
sub-Clauses 8.38.4, 8.5, 8.6 and 8.8 of this Agreement are deemed to be satisfied if and to
the extent such notification or information has been delivered under the Existing Account
Pledge Agreements provided that such notification or delivery to the Pledgee makes reference
to this Agreement and each Existing Account Pledge Agreement.
	 
	9.	 	DELEGATION
	 
	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the
powers, authorities and discretions conferred on it by this Agreement on such terms and
conditions as it shall see fit. The Pledgee shall only remain liable for diligently
selecting and providing initial instructions to such delegate.
	 
	10.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the
Pledgee, its agents its attorneys and any delegate against any action, proceeding, claims,
losses, liabilities, damages, expenses, demands, taxes, losses and costs which it may
sustain as a consequence of any breach by the Pledgor of the provisions of this Agreement,
the exercise or purported exercise of any of the rights and powers conferred on them by
this Agreement or otherwise relating to the Pledge.

- 19 -

 

	11.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any action
permitted by this Agreement or (b) any neglect or default in connection with the assets and
rights subject to the security interest created hereunder, save in
respect of any loss or damage which is suffered as a result of wilful misconduct (Vorsatz)
or gross negligence (grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or
delegate(s), or (c) the enforcement or realisation of all or any part of the security
interest created hereunder.
	 
	12.	 	DURATION AND INDEPENDENCE
	 
	12.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if the Grantors under the Credit Documents
have only temporarily discharged the Obligations.
	 
	12.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgor pursuant to it.
	 
	12.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Pledgee. None of such other security shall prejudice, or shall be
prejudiced by, or shall be merged in any way with this Agreement.
	 
	12.4	 	Waiving Section 418 of the German Civil Code, the Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.
	 
	13.	 	RELEASE (PFANDFREIGABE)
	 
	13.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practical declare in writing the release of the Pledge (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon
full and complete satisfaction of the Obligations the Pledge, due to its accessory nature
(Akzessorietät), ceases to exist by operation of German mandatory law.
	 
	13.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any
of the other Grantors to secure the Obligations (the “Security”), which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer

- 20 -

 

	 	 	Wert), exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of the Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) may in its reasonable discretion
determine so as to reduce the realisable value of the Security to the Limit.
	 
	13.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement)
will as soon as reasonably practicable declare in writing the release of the Pledge
(Pfandfreigabe) to the Pledgor in accordance with, and to the extent required by, the
Intercreditor Arrangements.
	 
	14.	 	PARTIAL INVALIDITY; WAIVER
	 
	14.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal
or unenforceable in any respect under the law of any jurisdiction (including Austrian law, in
particular Austrian capital maintenance rules), such provision shall as to such jurisdiction,
be ineffective to the extent necessary without affecting or impairing the validity, legality
and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced
with such valid, legal or enforceable provision which comes as close as possible to the
original intent of the parties and the invalid, illegal or unenforceable provision. Should a
gap (Regelungslücke) become evident in this Agreement, such gap shall, without affecting or
impairing the validity, legality and enforceability of the remaining provisions hereof, be
deemed to be filled in with such provision which comes as close as possible to the original
intent of the parties.
	 
	14.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, any
right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right or remedy prevent any further or other exercise thereof or the exercise
of any other right or remedy. The rights and remedies provided hereunder are cumulative and
not exclusive of any rights or remedies provided by law.
	 
	15.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 15 shall be made in
writing.
	 
	16.	 	AUSTRIAN STAMP DUTY
	 
	16.1	 	The parties to this Agreement (each a “Party” and together the “Parties”) shall perform
their obligations under or in connection with the Agreement exclusively at the Place of
Performance (as defined below), but in no event at a place in Austria and the performance of
any obligations or liability under or in connection with the Agreement

- 21 -

 

	 	 	within the Republic of
Austria shall not constitute discharge or performance of such obligation or liability. For the
purposes of the above, “Place of Performance” means: (i) in relation to any payment under or
in connection with the Agreement, the place at which such payment is to be made pursuant to
the Credit Documents; and (ii) in relation to any other obligation or liability under or in
connection with the Agreement, the premises of the Administrative Agent or the Indenture
Trustee (as the case may be)
in New York or any other place outside of Austria as the Administrative Agent or the
Indenture Trustee (as the case may be) may specify from time to time. Any payment made
under or in connection with the Agreement shall be made from and to an account outside of
Austria.
	 
	16.2	 	No Party shall bring or send to, or otherwise produce in, Austria a Stamp Duty Sensitive
Document or communicate in writing other than in compliance with the Stamp Duty Guidelines, in
each case other than in the event that: (i) it does not cause a liability of a Party to pay
stamp duty in the Republic of Austria; (ii) a Party wishes to enforce any of its rights under
or in connection with a Credit Document in any form of proceedings in the Republic of Austria
and is only able to do so by bringing or sending to, or otherwise producing in, Austria a
Stamp Duty Sensitive Document and it would not be sufficient for that Party to bring or send
to, or otherwise produce in, Austria a document that is not a Stamp Duty Sensitive Document
(e.g. a simple/uncertified copy (i.e. a copy which is not an original, notarised or certified
copy) of the relevant Stamp Duty Sensitive Document) for the purposes of such enforcement; in
furtherance of the foregoing, no Party shall (A) object to the introduction into evidence of
an uncertified copy of any Stamp Duty Sensitive Document or raise a defence to any action or
to the exercise of any remedy on the basis of an original or certified copy of any Stamp Duty
Sensitive Document not having been introduced into evidence, unless such uncertified copy
actually introduced into evidence does not accurately reflect the content of the original
document and (B) if such Party is a party to proceedings before an Austrian court or
authority, contest the authenticity (Echtheit) of an uncertified copy of any such Stamp Duty
Sensitive Document, unless such uncertified copy actually introduced into evidence does not
accurately reflect the content of the original document; or (iii) a Party is required by law,
governmental body, court, authority or agency pursuant to any legal requirement (whether for
the purposes of initiating, prosecuting, enforcing or executing any claim or remedy or
enforcing any judgment or otherwise) to bring or send a Stamp Duty Sensitive Document into, or
otherwise produce a Stamp Duty Sensitive Document in, the Republic of Austria.
	 
	16.3	 	The Pledgor shall indemnify the Administrative Agent, each Lender, each Issuing Bank, the
Indenture Trustee and the Collateral Agent against any cost, loss or liability in respect of
Austrian stamp duty unless such cost, loss or liability is incurred as a result of the
Administrative Agent, a Lender, an Issuing Bank, the Indenture Trustee

- 22 -

 

	 	 	or the Collateral Agent
breaching any obligations under this Clause 16, in which case the breaching party shall be
liable for payment of such stamp duty.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 

	For the Pledgor:	 	c/o SIG Combibloc Holding GmbH
	 
	 	 	 	 
	 

	 	Address:
	 	Rurstraße 58
	 

	 	 	 	52441 Linnich
	 

	 	 	 	Germany
	 
	 	 	 	 
	 

	 	Fax:
	 	+41 52674 6556
	 
	 	 	 	 
	 

	 	Attention:
	 	Daniel Petitpierre
	 
	 	 	 	 
	 

	 	Email:
	 	Daniel.Petitpierre@sig.biz
	 
	 	 	 	 
	For the Pledgor with a copy to:
	 	 	 	 
	 
	 	 	 	 
	 

	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	Level 22,
	 

	 	 	 	20 Bond Street,
	 

	 	 	 	Sydney NSW 2000
	 

	 	 	 	Australia
	 
	 	 	 	 
	 

	 	Fax:
	 	+64 2 9268 6693
	 
	 	 	 	 
	 

	 	Email:
	 	helen.golding@rankgroup.co.nz
	 
	 	 	 	 
	 

	 	Attention:
	 	Helen Golding
	 
	 	 	 	 
	For the Collateral Agent:	 	Wilmington Trust (London) Limited
	 
	 	 	 	 
	 

	 	Address:
	 	Third Floor,
	 

	 	 	 	1 King’s Arms Yard,
	 

	 	 	 	London, EC2R 7AF,
	 

	 	 	 	United Kingdom
	 
	 	 	 	 
	 

	 	Fax:
	 	+44 (0)20 7397 3601
	 
	 	 	 	 
	 

	 	Attention:
	 	Paul Barton

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	17.2	 	Any party hereto may change its address or fax number for notices and other
communications hereunder by notice to the other parties hereto. As agreed to in writing in
accordance with the First Lien Intercreditor Agreement, notices and other communications
hereunder may also be delivered by e-mail to the e-mail address of a representative of the
applicable party to this Agreement provided from time to time by such party.
	 
	17.3	 	All notices and other communications given to any party in connection with this Agreement
in accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier
service or sent by fax or on the date five business days after dispatch by certified or
registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to
such party as provided in this Clause 17 or in accordance with the latest unrevoked
direction from such party given in accordance with this Clause 17.
	 
	17.4	 	Any notice or other communication under or in connection with this Agreement shall be in
the English language or, if in any other language, accompanied by a translation into English.
In the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	17.5	 	No communication (including fax, electronic message or communication in any other written
form) under or in connection with the Credit Documents shall be made to or from an address
located inside of the Republic of Austria.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with
this Agreement shall be the courts in Frankfurt am Main. The Pledgee however, shall also be
entitled to take action against the Pledgor in any other court of competent jurisdiction.
Further, the taking of proceedings against the Pledgor in any one or more jurisdictions shall
not preclude the taking of proceedings in any other jurisdiction (whether concurrently or not)
if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of
signed signature page(s), transmitted by means of telecommunication (telekommunikative
Übermittlung) by fax or attached as an electronic photocopy (pdf., tif., etc.) to an e-mail.

- 24 -

 

	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
19.1 above, they will transmit the signed signature page(s) of this Agreement to attention of
Isabel van Bremen or Axel Schlieter (isabel.vanbremen@cliffordchance.com or
axel.schlieter@cliffordchance.com, fax: +49 211 43 55 5600) (each a “Recipient”). The
Agreement will be considered concluded once any of the Recipients has actually received the
signed signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement
and at the time of the receipt of the last outstanding signature page(s).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all
parties to this Agreement. For the avoidance of doubt, the Recipients will have no further
duties connected with their position as Recipient. In particular, the Recipients may assume
the conformity to the authentic original(s) of the signature page(s) transmitted to it by
means of telecommunication, the genuineness of all signatures on the original signature
page(s) and the signing authority of the signatories.

- 25 -

 

SIGNATURE PAGE

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

	 	 	 	 	 
	SIG Austria Holding GmbH

as Pledgor

 	 
	By:  	/s/ Jennie Blizard
 	 
	 	Name:  	Jennie Blizard 	 
	 	Title:  	Attorney 	 
	 
	Wilmington Trust (London) Limited

as Collateral Agent and Pledgee

 	 
	By:  	/s/ Paul Barton
 	 
	 	Name:  	Paul Barton 	 
	 	Title:  	Relationship Manager 	 

- 26 -

 

	 	 	 	 	 

SCHEDULE 1

PART 1

LIST OF CURRENT BORROWERS

     SIG Euro Holding AG & Co. KGaA

     Closure Systems International Holdings Inc.

     Closure Systems International B.V.

     SIG Austria Holding GmbH

     Reynolds Consumer Products Holdings Inc.

     Reynolds Group Holdings Inc.

     Pactiv Corporation

PART 2

LIST OF CURRENT GUARANTORS, CURRENT 2009 SENIOR SECURED NOTES

GUARANTORS, CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

AND CURRENT FEBRUARY 2011 SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

     Closure Systems International (Brazil) Sistemas de Vedação Ltda.

     CSI Latin American Holdings Corporation

     Evergreen Packaging Canada Limited

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

- 27 -

 

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

- 28 -

 

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

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

     Evergreen Packaging (Luxembourg) S.à r.l.

     Reynolds Group Issuer (Luxembourg) S.A.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

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

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

- 29 -

 

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

- 30 -

 

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     Pactiv Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

     Conference Cup Ltd.

     Dopaco Canada, Inc.

     Dopaco, Inc.

- 31 -

 

     Garven Incorporated

     Central de Bolsas, S. de R.L. de C.V.

     Servicios Industriales Jaguar, S. de C.V.

     Servicio Terrestre Jaguar, S. de C.V.

     Grupo Corporativo Jaguar, S. de C.V.

     Pactiv México, S. de R.L. de C.V.

PART 3

LIST OF CURRENT NEW SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

     Closure Systems International (Brazil) Sistemas de Vedação Ltda.

     CSI Latin American Holdings Corporation

     Evergreen Packaging Canada Limited

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

- 32 -

 

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

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

     Evergreen Packaging (Luxembourg) S.à r.l.

- 33 -

 

     Reynolds Group Issuer (Luxembourg) S.A.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

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

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

- 34 -

 

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

- 35 -

 

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     Pactiv Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

     Conference Cup Ltd.

     Dopaco Canada, Inc.

     Dopaco, Inc.

     Garven Incorporated

     Central de Bolsas, S. de R.L. de C.V.

     Servicios Industriales Jaguar, S. de C.V.

     Servicio Terrestre Jaguar, S. de C.V.

     Grupo Corporativo Jaguar, S. de C.V.

- 36 -

 

     Pactiv México, S. de R.L. de C.V.

- 37 -

 

SCHEDULE 2

LIST OF ACCOUNTS

	 	 	 	 	 	 	 	 	 
	 	 	Bank Sort Code	 	Name and address	 	 	 	 
	(Sub-) Account No.	 	(Bankleitzahl)	 	of Account Bank	 	Type of account	 	Currency
	[               ]

	 	SWIFT:
	 	Deutsche Bank AG,
	 	Current
	 	Euro
	 

	 	DEUTDEDDXXX
	 	Königsallee 45/47, 40189	 	 	 	 
	 

	 	
	 	Düsseldorf, Germany	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	IBAN:

[                                           ]	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	[               ]

	 	SWIFT:
	 	HSBC Trinkaus & Burkhardt AG,
	 	Current
	 	Euro
	 

	 	TUBDDEDDXXX
	 	Königsallee 21/23, 40212

 Düsseldorf, Germany	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	IBAN:
	 		 	 	 	 
	 

	 	[                                           ]	 	 	 	 	 	 

- 38 -

 

SCHEDULE 3

FORM OF NOTICE OF PLEDGE

     The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of the Account Pledge Agreement (as defined below)) in Austria or
sending any e-mail communication to which a pdf scan of this document is attached to an Austrian
addressee or sending any e-mail communication carrying an electronic or digital signature which
refers to any Credit Document to an Austrian addressee may cause the imposition of Austrian stamp
duty. Accordingly, keep the original document as well as all certified copies thereof and written
and signed references to it outside of Austria and avoid printing out any email communication which
refers to any Credit Document in Austria or sending any e-mail communication to which a pdf scan of
this document is attached to an Austrian addressee or sending any e-mail communication carrying an
electronic or digital signature which refers to any Credit Document to an Austrian addressee.

[Letterhead of Pledgor]

	 	 	 

	Absender/From:

	 	[Pledgor]
	 
	 	 
	An/To:

	 	[Account Bank]
	 
	 	 
	Datum/Date:

	 	[•]

	 	 	 

	Verpfändungsanzeige

	 	Notice of Pledge
	 
	 	 
	Betrifft: Konto Nr. [•]

	 	Re: Account No. [•]
	 
	 	 
	Sehr geehrte Damen und Herren,

	 	Dear Sirs,
	 
	 	 
	wie Ihnen bekannt ist, haben wir gemäß
eines Kontenverpfändungsvertrags vom 4.
März 2010 (der “Kontenverpfändungsvertrag
1”), eines Kontenverpfändungsvertrags vom
14. Januar 2011 (der
“Kontenverpfändungsvertrag 2”) und eines
Kontenverpfändungsvertrags vom 7. Juni
2011 (der “Kontenverpfändungsvertrag 3”)
alle Ansprüche einschließlich Zinsen aus
dem o.g. Konto (inklusive aller
Unterkonten, etwaigen Neueröffnungen,
Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von
Wilmington Trust (London) Limited
(“Sicherheitentreuhänder”) und anderen
verpfändet. Die Verpfändung umfasst alle
Arten von Kontoguthaben sowie alle daraus
zeitanteilig anfallenden Zinsen. Kopien
des Kontenverpfändungsvertrages 1, des
Kontenverpfändungsvertrages 2 und des
Kontenverpfändungsvertrages 3 hatten wir
unseren Schreiben beigefügt.

	 	As you are aware, by an
account pledge agreement dated
4 March 2010 (the “Account
Pledge Agreement 1”), by an
account pledge agreement dated
14 January 2011 (the “Account
Pledge Agreement 2”) and by an
account pledge agreement dated
7 June 2011 (the “Account
Pledge Agreement 3”), we have
pledged in favour of
Wilmington Trust (London)
Limited (the “Collateral
Agent”) and others all of our
right, title and interest in
and to the above account
(which shall include all
sub-accounts, renewals,
replacements, redesignations
and related fixed deposit
accounts thereof) and all
monies and interest from time
to time standing or accruing
to the credit thereof. Copies
of the Account Pledge
Agreement 1, Account Pledge
Agreement 2 and Account Pledge
Agreement 3 were attached to
our letters.

- 39 -

 

	 	 	 

	Gemäß eines Bestätigungs- und
Ergänzungsvertrages zum
Kontenverpfändungsvertrag 1 vom 27.
August 2010 (der “Bestätigungs- und
Ergänzungsvertrag”) wurde der
Kontenverpfändungsvertrag 1 dahingehend
bestätigt und ergänzt, dass, unter
anderem, auch die Erhöhung bestehender
Kreditlinien umfasst wird, die bereits
durch den Kontenverpfändungsvertrag 1
besichert sind. Eine Kopie des
Bestätigungs- und Ergänzungsvertrags
hatten wir unseren Schreiben beigefügt.

	 	Pursuant to a confirmation and
amendment agreement relating
to the Account Pledge
Agreement 1 dated 27 August
2010 (the “Confirmation and
Amendment Agreement”), the
Account Pledge Agreement 1 has
been confirmed and amended to
the effect that, inter alia,
it also secures the increase
of existing facilities which
are already secured by the
Account Pledge Agreement 1. A
copy of the Confirmation and
Amendment Agreement was
attached to our letters.
	 
	 	 
	     Hiermit zeigen wir Ihnen an,
dass wir gemäß Ziffer 2.1
des hier in Kopie beigefügten
Kontenverpfändungsvertrags
vom [•] alle Rechte und
Ansprüche bezüglich des o. g.
Kontos und aller sonstigen
bei Ihnen geführten Konten
(die “Konten”)
(inklusive aller Unterkonten,
etwaiger Neueröffnungen,
Verlängerungen, Umbenennung
und Festgeldkonten) zu
Gunsten des
Sicherheitentreuhänders
verpfändet haben.

	 	     We hereby give you notice that
pursuant to Clause 2.1 of a
account pledge agreement dated
[•], a copy of which is
attached hereto, we have
pledged in favour of the
Collateral Agent all of our
rights and claims in respect
of the above account and all
other accounts maintained with
you from time to time (the
“Accounts”) (including all
sub-accounts thereof,
renewals, replacements,
redesignations and related
fixed deposit accounts
thereof).
	 
	 	 
	     Die Verpfändung umfasst
insbesondere alle Ansprüche
auf gegenwärtige und
zukünftige Guthaben
(einschließlich Spareinlagen,
Termineinlagen,
Festgeldeinlagen und
Tagesgeldeinlagen) und
positive Salden sowie alle
darauf anfallenden Zinsen.

	 	     The pledge comprises in
particular all claims to
present and future cash
deposits (including saving
deposits, time deposits, fixed
deposits and call money
deposits) and credit balances
and all claims to interest
payable in relation thereto.

- 40 -

 

	 	 	 

	     Solange Sie als kontoführende
Bank keine gegenteilige
Nachricht vom

Sicherheitentreuhänder
erhalten, sind wir
ermächtigt, über die
Konten und
insbesondere die
Kontenguthaben zu verfügen.
Im Fall des Erhalts einer
entsprechenden Nachricht sind
Sie als kontoführende Bank
gehalten, keinerlei
Verfügungen unsererseits über
die Konten und die
Kontenguthaben mehr
zuzulassen.

	 	     Until notice to the contrary
from the Collateral Agent to
be served on you as account
bank, we may continue to
operate the Accounts and in
particular may dispose over
the amounts standing to the
credit thereof. Upon receipt
of such aforesaid notice to
the contrary, you as account
bank shall not allow any
dispositions by us of the
Accounts and of the amounts
standing to the credit
thereof.
	 
	 	 
	     Wir verzichten hiermit in
Bezug auf alle bei Ihnen
geführten Konten zu
Gunsten des

Sicherheitentreuhänders
auf unser Recht auf
Vertraulichkeit
(Bankgeheimnis) und
beauftragen und ermächtigen
Sie hiermit, nachdem Sie die
o.g Nachricht vom

Sicherheitentreuhänder
erhalten haben, dem

Sicherheitentreuhänder
auf sein Verlangen jede
gewünschte Information im
Hinblick auf solche Konten zu
geben.

	 	     We herewith waive all rights
of confidentiality
(Bankgeheimnis) in relation to
all accounts held with you for
the benefit of the Collateral
Agent. If you have received
the above notice from the
Collateral Agent we hereby
instruct and authorise you to
provide the Collateral Agent
with any information requested
by it in respect of such
accounts.
	 
	 	 
	     Diese Verpfändungsanzeige
unterliegt deutschem Recht.

	 	     This notice of pledge shall be
construed in accordance with
German law.
	 
	 	 
	     In Zweifelsfällen gilt die
deutsche Fassung dieser
Verpfändungsanzeige.

	 	     In cases of doubt the German
version of this notice of
pledge shall prevail.
	 
	 	 
	     Wir bitten Sie, die dieser
Verpfändungsanzeige
beigefügte
Empfangsbestätigung als
Zeichen Ihres
Einverständnisses mit den
hierin und in der
Empfangsbestätigung genannten
Bestimmungen unterzeichnet
sowohl an uns als auch an den Sicherheitentreuhänder zu senden. Die Adresse des

Sicherheitentreuhänders
ist die folgende:

	 	     Please sign the enclosed
Acknowledgement of Notice of
Pledge in order to acknowledge
receipt of this notice and
your agreement to the terms
set out herein and in the
enclosed Acknowledgement and
return the same to us and to
the Collateral Agent. The
address of the Collateral
Agent is the following:

[name and address of Collateral Agent].

	 	 	 

	Mit freundlichen Grüßen

	 	Yours faithfully

- 41 -

 

					
	 	 	 	 	 
	 
	 	[Pledgor]	 	 
	 
	 	 

(Geschäftsführer/Managing Director)
	 	 

- 42 -

 

[Letterhead of Account Bank]

	 	 	 

	Absender/From:

	 	[Account Bank]
	 
	 	 
	An/ To:

	 	[Collateral Agent]
	 

	 	und/and

[Pledgor]

     Datum/ [•]

     Date:

	 	 	 

	     Bestätigung des Empfangs einer
Verpfändungsanzeige

	 	     Acknowledgement of Notice of
Pledge
	 
	 	 
	     Betrifft: Konto Nr. [•]

	 	     Re: Account No. [•]
	 
	 	 
	     Sehr geehrte Damen und Herren,

	 	     Dear Sirs,

	 	 	 

	     Wir bestätigen hiermit
den Erhalt der
Verpfändungsanzeige vom
[Datum] sowie der Kopie
des
Kontoverpfändungsvertrags
vom [•] und unser
Einverständnis mit den
darin enthaltenen
Bestimmungen.

	 	     We hereby acknowledge receipt of the
notice of pledge dated [date] and of
a copy of the account pledge
agreement dated [•] and confirm our
agreement with the terms set out
therein.
	 
	 	 
	     Wir versichern, dass wir
keine
Verpfändungsanzeige
bzgl. der verpfändeten
Konten erhalten haben,
außer Ihrer Anzeigen vom
[•] und vom [•] und uns
mit Ausnahme unseres
AGB-Pfandrechts keine
Rechte Dritter an den
verpfändeten Konten
bekannt sind.

	 	     We confirm that we have neither
received any previous notice of
pledge relating to the pledged
accounts nor are we aware of any
third party rights in relation to
the accounts other than your notice
dated [•] and [•] and except for the
right of pledge arising pursuant to
our general business conditions.
	 
	 	 
	     Wir verpflichten uns
hiermit, sowohl im
eigenen Namen als auch
für unsere jeweiligen
Rechtsnachfolger, die in
der obengenannten
Verpfändungsanzeige
enthaltenen Bestimmungen
und Anweisungen zu
befolgen.

	 	     We hereby confirm on behalf of
ourselves and our legal successors
in title that we will act in
accordance with the terms and
instructions set out in the notice
of pledge referred to above.

- 43 -

 

	 	 	 

	     Wir verzichten hiermit
unwiderruflich und
bedingungslos auf
jegliche Aufrechnungs-
und
Zurückbehaltungsrechte
bzgl. der Konten, wobei
es unser Verständnis
ist, dass Saldierungen
bei Kontokorrentkonten
weiterhin vorgenommen
und
Kontoführungsgebühren
und retournierte Schecks
den Konten weiterhin
ohne Einschränkung
belastet werden dürfen.

	 	     We hereby irrevocably and
unconditionally waive our rights in
respect of and agree not to make any
set-off from the Accounts or invoke
any rights of retention in relation
to the Accounts; it being understood
that the balancing of current
accounts shall be permitted and that
account-keeping fees and returned
cheques may furthermore be debited
without restriction.
	 
	 	 
	     Des Weiteren erklären
wir hiermit, dass wir
das aufgrund unserer
Allgemeinen
Geschäftsbedingungen an
den Konten bestehende
Pfandrecht aufgeben.

	 	     We hereby release the pledge granted
in our favour in respect of the
Accounts pursuant to our General
Business Conditions.
	 
	 	 
	     Dieses Schreiben
unterliegt deutschem
Recht.

	 	     This letter shall be construed in
accordance with German law.
	 
	 	 
	     In Zweifelsfällen gilt
die deutsche Fassung
dieses Schreibens.

	 	     In cases of doubt the German version
of this letter shall prevail.
	 
	 	 
	     Mit freundlichen Grüßen

	 	     Yours faithfully

					
	 	 	 	 	 
	 
	 	[Account Bank]	 	 
	 
	 	 

([Name des Unterzeichners/name of signatory])
	 	 

- 44 -

 

SCHEDULE 4

FORM OF NOTIFICATION OF FUTURE ACCOUNTS

     The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of the Account Pledge Agreement (as defined below)) in Austria or
sending any e-mail communication to which a pdf scan of this document is attached to an Austrian
addressee or sending any e-mail communication carrying an electronic or digital signature which
refers to any Credit Document to an Austrian addressee may cause the imposition of Austrian stamp
duty. Accordingly, keep the original document as well as all certified copies thereof and written
and signed references to it outside of Austria and avoid printing out any email communication which
refers to any Credit Document in Austria or sending any e-mail communication to which a pdf scan of
this document is attached to an Austrian addressee or sending any e-mail communication carrying an
electronic or digital signature which refers to any Credit Document to an Austrian addressee.

	 	 	 

	From:

	 	[Pledgor]
	 
	 	 
	To:

	 	[Collateral Agent], on its own behalf and for and on behalf of the
Secured Parties (as defined in the Account Pledge Agreement, as
defined below)
	 
	 	 
	Date:

	 	[Date of Notification]
	 
	 	 
	Re:

	 	Account pledge agreement dated [date of this Agreement] between us
as pledgor and you (the “Account Pledge Agreement”)

Dear Sirs,

     In accordance with Clause 8.3 of the Account Pledge Agreement, we hereby give you notice that
we [will open/have opened] the following bank account (the “New Account”):

- 45 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Name and address of	 	 
	 	 	Bank Sort Code	 	Account Bank (the	 	 
	(Sub-) Account No.	 	(Bankleitzahl)	 	“Account Bank”)	 	Type of Account
	[•]

	 	[•]
	 	[•]
	 	[•]

     Capitalised terms not otherwise defined herein shall have the meaning ascribed thereto in the
Account Pledge Agreement.

     We hereby confirm that all our present and future rights and claims (whether conditional or
unconditional) arising against the Account Bank from or in relation to the New Account (as
specified in Clause 2.1 of the Account Pledge Agreement) are pledged to the Pledgee pursuant to the
Account Pledge Agreement as security for the Obligations. We expressly acknowledge that all
obligations imposed on us in the Account Pledge Agreement in respect of the Accounts also apply for
the New Account.

     By way of an independent guarantee (selbstständiges Garantieversprechen), we make the
representations and warranties set out in Clauses 8.2 of the Account Pledge Agreement in respect of
the New Account.

     [In accordance with Clause 8.3 of the Account Pledge Agreement, we enclose a copy of the
notice of pledge we have given to the Account Bank in respect of the New Account as well as an
original copy of the acknowledgement countersigned by the Account Bank.]

	 	 	 	 	 
	 	[Pledgor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Managing Director (Geschäftsführer) 	 

46

 

SCHEDULE 5

STAMP DUTY GUIDELINES

	1.	 	Introduction
	 
	1.1	 	These stamp duty guidelines (the “Guidelines”) shall apply to all written communi-cation
of the parties to this Agreement of which this Schedule 5 forms part.
	 
	1.2	 	In these Guidelines, unless a contrary indication appears a term defined in the Agreement
(including by way of reference) has the same meaning when used in these Guidelines.
	 
	2.	 	Guidelines for Written Communication
	 
	2.1	 	Signed written communication that records or otherwise provides evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body
of the relevant communication, a schedule, an attachment, an annex or an appendix referred to
therein or incorporated by reference (Bezugnahme), may only be made from an address outside of
the Republic of Austria to an address outside of the Republic of Austria. For the avoidance of
doubt, e-mails where the server on which such e-mails will be received or from which such
e-mails will be sent is located in the Republic of Austria (e.g. this may be indicated by an
e-mail address having a country code top level domain “.at”) or other e-mail addresses where
the person sending or the person receiving such e-mail have their ordinary workplace
(Arbeitsplatz) in the Republic of Austria must not be signed (see also clause 2.2. and 2.3.
below).
	 
	2.2	 	Letters that record or otherwise provide evidence of a transaction (Rechtsgeschäft)
contemplated by, or referenced in, any Credit Document, whether in the body of the letter, a
schedule, an attachment, an annex or an appendix referred to therein or incorporated by
reference (Bezugnahme), may only be brought or sent into, or pro-duced in, the Republic of
Austria in the following format (provided that no Stamp Duty Sensitive Document is attached):
	 
	 	 	[party’s letterhead]

47

 

	 	 	Dear....,
	 
	 	 	[text of message]
	 
	 	 	Kind regards

	 	 	     NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	NO CONTACT DETAILS
	 
	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT
	 
	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED
	 
	2.3	 	E-mails and fax messages that record or otherwise provide evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body
of the e-mail or fax, a schedule, an attachment, an annex or an appendix referred to therein
or incorporated by reference (Bezugnahme), may only be brought or sent into, or produced in,
the Republic of Austria if in the following format (provided that no Stamp Duty Sensitive
Document is attached):
	 
	 	 	Dear....,
	 
	 	 	[text of message].
	 
	 	 	Kind regards
	 
	 	 	     NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)
	 
	 	 	     NO CONTACT DETAILS OR OTHER AUTOMATICALLY GENERATED FOOTERS THAT REFER TO A PARTY

48

 

     DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT

     CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED

     In addition, the footer of such e-mails must not contain the company name, contact
details or any other information allowing identification of the sender. The company name,
contact details etc. of the original sender of a reply or forwarded message need not be
deleted.

- 49 -exv4w518

EXHIBIT 4.518

SIG COMBIBLOC GMBH & CO. KG

as Pledgor

WILMINGTON TRUST (LONDON) LIMITED

as Collateral Agent and Pledgee

 

ACCOUNT PLEDGE AGREEMENT

(Kontoverpfändung)

 

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of this document) in Austria or sending any e-mail communication
to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any Credit Document to an
Austrian addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original
document as well as all certified copies thereof and written and signed references to it outside of
Austria and avoid printing out any email communication which refers to any Credit Document in
Austria or sending any e-mail communication to which a pdf scan of this document is attached to an
Austrian addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee.

 

 

CONTENTS

	 	 	 	 	 
	Clause	 	Page	 
	 
	 	 	 	 
	1. Definitions and Language
	 	 	- 6 -	 
	2. Pledge
	 	 	- 14 -	 
	3. Purpose of the Pledge
	 	 	- 15 -	 
	4. Notice of Pledge
	 	 	- 15 -	 
	5. Pledgor’s Right of Disposal
	 	 	- 16 -	 
	6. Enforcement of the Pledges
	 	 	- 16 -	 
	7. Austrian Limitations on Enforcement
	 	 	- 17 -	 
	8. Undertakings of the Pledgor
	 	 	- 17 -	 
	9. Delegation
	 	 	- 19 -	 
	10. Indemnity
	 	 	- 19 -	 
	11. No liability
	 	 	- 20 -	 
	12. Duration and Independence
	 	 	- 20 -	 
	13. Release (Pfandfreigabe)
	 	 	- 20 -	 
	14. Partial Invalidity; Waiver
	 	 	- 21 -	 
	15. Amendments
	 	 	- 21 -	 
	16. Austrian Stamp Duty
	 	 	- 22 -	 
	17. Notices and their Language
	 	 	- 23 -	 
	18. Applicable Law, Jurisdiction
	 	 	- 24 -	 
	19. Conclusion of this Agreement (Vertragsschluss)
	 	 	- 25 -	 
	Schedule 1
	 	 	- 27 -	 
	Part 1 List of Current Borrowers
	 	 	- 27 -	 
	Part 2 List of Current Guarantors, Current 2009
Senior Secured Notes Guarantors,
Current October 2010 Secured Notes
Guarantors and Current February 2011 Secured Notes
Guarantors
	 	 	- 27 -	 
	Part 3 List of Current New Secured Notes Guarantors
	 	 	- 32 -	 
	Schedule 2 List of Accounts
	 	 	- 38 -	 
	Schedule 3 Form of Notice of Pledge
	 	 	- 39 -	 
	Schedule 4 Form of Notification of Future Accounts
	 	 	    45	 
	Schedule 5 Stamp Duty Guidelines
	 	 	    47	 

 

 

	 	 	This ACCOUNT PLEDGE AGREEMENT (the “Agreement”) is made on 14 October 2011

	 	 	BETWEEN:

	(1)	 	SIG Combibloc GmbH & Co. KG, a limited partnership organised under the laws of Austria with
its seat in Saalfelden am Steinernen Meer, Austria, and its business address as at the date of
this Agreement at Industriestraße 3, 5760 Saalfelden, Austria, registered in the Austrian
companies register (Firmenbuch) under file number FN 240335 i (the “Pledgor”); and

	(2)	 	Wilmington Trust (London) Limited, a private limited company whose registered number is
05650152 and whose registered office address as at the date of this Agreement is at Third
Floor, 1 King’s Arms Yard, London EC2R 7AF, United Kingdom, in its capacity as collateral
agent under the First Lien Intercreditor Agreement (as defined below) (the “Collateral Agent”
or the “Pledgee”).

	 	 	WHEREAS:

	(A)	 	Pursuant to the second amended and restated senior secured multi-currency term and revolving
credit agreement dated 9 August 2011 of currently up to USD 4,445,000,000 and EUR 330,000,000
between, inter alia, the parties listed in Schedule 1 Part 1 hereto as current borrowers (the
“Current Borrowers”), the parties listed in Schedule 1 Part 2 hereto as current guarantors
(the “Current Guarantors”), Credit Suisse AG as administrative agent and others (as amended,
varied, novated, restated, supplemented, superseded or extended from time to time, the “Second
Amended and Restated Credit Agreement”), which amends and restates the multi-currency term and
revolving credit agreement dated 5 November 2009 between, inter alia, the Current Borrowers
and the Current Guarantors, Credit Suisse AG as administrative agent and others (as amended
and restated pursuant to the Second Amended and Restated Credit Agreement and as further
amended, varied, novated, restated, supplemented, superseded or extended from time to time,
hereinafter the “Credit Agreement”), certain lenders (together the “Original Lenders”) have
granted certain facilities to the Current Borrowers and certain other entities which may
accede or may have acceded to the Credit Agreement as additional borrowers.

	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as ultimate issuers (the “Issuers”), certain affiliates of the Issuers listed in Schedule
1 Part 2 hereto as current 2009 senior secured notes guarantors (the “Current 2009 Senior
Secured Notes Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal
paying agent, transfer agent and registrar, (as amended, varied, novated, supplemented,
superseded or extended from

- 3 -

 

	 	 	time to time, the “2009 Senior Secured Notes Indenture”), the Issuers have issued senior
secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount of EUR
450,000,000 (the “Euro Secured Notes” and together with the US Secured Notes the “2009
Senior Secured Notes”) to certain noteholders.

	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia, RGHL
US Escrow I LLC, RGHL US Escrow I Inc., and RGHL Escrow Issuer (Luxembourg) I S.A. as escrow
issuers (the “Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The Bank of
New York Mellon, London Branch as principal paying agent, The Bank of New York Mellon as
collateral agent and Wilmington Trust (London) Limited as additional collateral agent (as
amended, varied, novated, supplemented, superseded or extended from time to time, the “October
2010 Secured Notes Indenture”), the Escrow Issuers have issued secured notes due 2019 in the
aggregate principal amount of USD 1,500,000,000 in escrow (the “October 2010 Secured Notes”).
In connection with the release from escrow of the proceeds of the October 2010 Secured Notes,
which occurred on 16 November 2010, the Escrow Issuers were merged with and into the Issuers,
with each of the Issuers surviving the applicable mergers or other transfers and assuming by
operation of law the obligations of the applicable Escrow Issuers with respect to the October
2010 Secured Notes Indenture and the October 2010 Secured Notes. Certain affiliates of the
Issuers listed in Schedule 1 Part 2 hereto have acceded to the October 2010 Secured Notes
Indenture as current October 2010 secured notes guarantors (the “Current October 2010 Secured
Notes Guarantors”).

	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia, the
Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon, London
Branch as principal paying agent, The Bank of New York Mellon as collateral agent and
Wilmington Trust (London) Limited as additional collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “February 2011 Secured Notes
Indenture”), the Issuers have issued secured notes due 2021 in the aggregate principal amount
of USD 1,000,000,000 (the “February 2011 Secured Notes”) which are guaranteed by certain
affiliates of the Issuers listed in Schedule 1 Part 2 hereto as current February 2011 secured
notes guarantors (the “Current February 2011 Secured Notes Guarantors”).

	(E)	 	The Pledgor has entered into the Existing Account Pledge Agreements (as defined below).

- 4 -

 

	(F)	 	Pursuant to a senior secured notes indenture dated 9 August 2011 between, inter alia, RGHL US
Escrow II LLC and RGHL US Escrow II Inc. as escrow issuers (the “August 2011 Escrow Issuers”),
The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon, London Branch
as principal paying agent, The Bank of New York Mellon as collateral agent and Wilmington
Trust (London) Limited as additional collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “New Secured Notes Indenture”),
the August 2011 Escrow Issuers have issued senior secured notes due 2019 in the aggregate
principal amount of USD 1,500,000,000 (the “New Secured Notes”). In connection with the
release from escrow of the proceeds of the New Secured Notes, RGHL US Escrow II Inc. and RGHL
US Escrow II LLC were merged with and into Reynolds Group Issuer Inc. and Reynolds Group
Issuer LLC (together with Reynolds Group Issuer (Luxembourg) S.A., the “August 2011 Ultimate
Issuers”), respectively, and the obligations of the August 2011 Escrow Issuers were assumed by
the August 2011 Ultimate Issuers pursuant to a supplemental indenture between, among others,
the August 2011 Escrow Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon,
as trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited, as additional collateral agent. At such time certain
affiliates of the August 2011 Ultimate Issuers listed in Schedule 1 Part 3 hereto acceded as
current new secured notes guarantors (the “Current New Secured Notes Guarantors”) to the New
Secured Notes Indenture.

	(G)	 	As a result of the Second Amended and Restated Credit Agreement and the amendment No. 6 and
incremental term loan assumption agreement dated 9 August 2011 between, inter alia, the
Current Borrowers, the Current Guarantors, Credit Suisse AG as administrative agent and others
(the “Amendment No. 6 and Incremental Term Loan Assumption Agreement”) certain lenders have
agreed to grant incremental term loans in an aggregate amount of up to USD 2,000,000,000.

	(H)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges existing by
operation of the general business conditions (Allgemeine Geschäftsbedingungen) of the
respective Account Bank (as defined below) and the pledges arising under the Existing Account
Pledge Agreements (as defined below)) over its Accounts (as defined below) as security for the
Pledgee’s respective claims against the Grantors (as defined below) (or any of them) in
respect of the Obligations (as defined below).

	(I)	 	The security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for the Secured Parties (as defined below) pursuant to a first lien intercreditor
agreement dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder Agreement (as
defined below)) between, inter alia, the Collateral Agent, the Indenture Trustee, the
Administrative Agent and the Grantors (each as defined below) and others (as amended, varied,
novated, supplemented, superseded or

- 5 -

 

	 	 	extended from time to time, the “First Lien Intercreditor Agreement”).
	 
	 	 	NOW, IT IS AGREED as follows:

1. DEFINITIONS AND LANGUAGE

1.1 Definitions

	 	 	In this Agreement:
	 
	 	 	“Account Banks” means the credit institutions administering the Accounts and “Account
Bank” means any of them.
	 
	 	 	“Accounts” means all bank accounts (including without limitation giro accounts and
accounts for saving deposits (Spareinlagen), time deposits (Termineinlagen) or call money
deposits (Tagesgeldeinlagen)) which the Pledgor holds at present or may at any time
hereafter open with any credit institution in the Federal Republic of Germany (including
without limitation the accounts listed in Schedule 2 (List of Accounts) and any sub-account
(Unterkonto), renewal, redesignation or replacement thereof, and “Account” means any of
them.
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its
business address at Eleven Madison Avenue, New York, NY 10010, United States of America in
its capacity as administrative agent under the Credit Agreement and any successor appointed
as administrative agent under the Credit Agreement.
	 
	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January
2010 relating to the First Lien Intercreditor Agreement made among (amongst others) The Bank
of New York Mellon, the Collateral Agent, Credit Suisse AG and Reynolds Group Holdings
Limited pursuant to which the Collateral Agent was appointed as additional collateral agent
and became party to the First Lien Intercreditor Agreement.
	 
	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.
	 
	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A., Citibank
International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets Deutschland AG
& Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any of the Lender’s
or the Administrative Agent’s affiliates (at the time the cash management services
arrangement is entered into) provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as cash management bank.
	 
	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management Bank
to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.

- 6 -

 

	 	 	“Credit Documents” shall mean the Loan Documents, the 2009 Senior Secured Notes Documents,
the October 2010 Secured Notes Documents, the February 2011 Secured Notes Documents and the
New Secured Notes Documents.

	 	 	“Enforcement Event” shall mean an Event of Default.

	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit
Agreement and/or the 2009 Senior Secured Notes Indenture and/or the October 2010 Secured
Notes Indenture and/or the February 2011 Secured Notes Indenture and/or the New Secured
Notes Indenture.

	 	 	“Existing Account Pledge Agreements” means

	 	(a)	 	the account pledge agreement dated 4 March 2010 (as amended by
a confirmation and amendment agreement dated 27 August 2010) entered into
between SIG Combibloc GmbH & Co. KG as pledgor and Wilmington Trust (London)
Limited as collateral agent and as pledgee and others as pledgees;

	 	(b)	 	confirmation and amendment agreement dated 27 August 2010 and
entered into between, inter alios, SIG Combibloc GmbH & Co. KG as pledgor and
Wilmington Trust (London) Limited as collateral agent relating to an account
pledge agreement dated 4 March 2010 and entered into between SIG Combibloc GmbH
& Co. KG as pledgor and Wilmington Trust (London) Limited as collateral agent
and other as pledgees;

	 	(c)	 	the account pledge agreement dated 14 January 2011 entered into
between SIG Combibloc GmbH & Co. KG as pledgor and Wilmington Trust (London)
Limited as collateral agent and as pledgee;

	 	(d)	 	the account pledge agreement dated 7 June 2011 entered into
between SIG Combibloc GmbH & Co. KG as pledgor and Wilmington Trust (London)
Limited as collateral agent and as pledgee.

	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11
May 2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007,
as amended and restated on 5 November 2009 and as further amended on 5 November 2010)
between, inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group Holdings
Limited (now Reynolds Group Holdings Limited), Beverage Packaging Holdings (Luxembourg) II
S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse AG (formerly
Credit Suisse) as security trustee and others.

	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture, any security document relating to
the February 2011 Secured Notes and/or the February 2011 Secured Notes Indenture and any
other document that may be entered into pursuant to any of the foregoing.

- 7 -

 

	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations
of the Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes
Indenture by the February 2011 Secured Notes Guarantors.

	 	 	“February 2011 Secured Notes Guarantors” means the Current February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes Indenture as
additional guarantor.

	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.

	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the February 2011 Secured Notes Indenture and any
successor appointed as indenture trustee under the February 2011 Secured Notes Indenture.

	 	 	“Grantors” means the Loan Parties, the Issuers, the 2009 Senior Secured Notes Guarantors,
the October 2010 Secured Notes Guarantors, the February 2011 Secured Notes Guarantors and
the New Secured Notes Guarantors and any person that has granted a security interest to the
Collateral Agent and/or the Secured Parties in respect of the obligations of the Loan
Parties, the Issuers and the 2009 Senior Secured Notes Guarantors, the October 2010 Secured
Notes Guarantors, the February 2011 Secured Notes Guarantors and the New Secured Notes
Guarantors under the Credit Documents and “Grantor” means any of them.

	 	 	“Grantors’ Agent” shall mean Reynolds Group Holdings Limited or any other person
appointed as agent of the Grantors in accordance with the Principal Finance Documents.

	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).

	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or
the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who
has entered into a hedging agreement for the purpose of hedging interest rate liabilities
and/or any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement
relating to incremental facilities of up to USD 2,000,000,000 among, and in form and
substance reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one
or more Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders
pursuant to which one or more Incremental Term Lenders make available Incremental Term Loan
Commitments and/or one or more Incremental Revolving Credit Lenders make available
Incremental Revolving Credit Commitments respectively.

- 8 -

 

	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.

	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.

	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.

	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.

	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as
indenture trustee under the 2009 Senior Secured Notes Indenture and any successor appointed
as indenture trustee under the 2009 Senior Secured Notes Indenture.

	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the
Existing Intercreditor Agreement, in each case as amended, novated, supplemented, restated,
or modified from time to time.

	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.

	 	 	“Lenders” shall mean the Original Lenders and any entity which may become a lender
under the Credit Agreement in the future and “Lender” means any of them.

	 	 	“Loan Documents” shall mean the Credit Agreement, the Amendment No.1 and Joinder
Agreement, the Second Amended and Restated Credit Agreement and the Amendment No. 6 and
Incremental Term Loan Assumption Agreement, any borrowing subsidiary agreement and/or
guarantor joinder agreement relating to the Credit Agreement, any letter of credit or bank
guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management Bank relating to Cash Management Services,
each Local Facility Agreement and any other document that may be entered into pursuant to
any of the foregoing in relation to the Credit Agreement.

	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which
may accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of
them.

	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings

- 9 -

 

	 	 	(Luxembourg) II S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l. and the
Borrowers) by a Local Facility Provider and “Local Facility” means any of them.

	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.

	 	 	“Local Facility Provider” means HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG, Commerzbank
Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of
America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co.,
Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of
America, N.A., provided in each case it has become a party to, or by execution of an
additional bank secured party acknowledgment has agreed to be bound by the terms of, the
First Lien Intercreditor Agreement in its capacity as local facility provider.

	 	 	“New Secured Notes Documents” shall mean the New Secured Notes Indenture, the New Secured
Notes Guarantees, the New Secured Notes, the Intercreditor Arrangements, any supplemental
indenture, any security document relating to the New Secured Notes and/or the New Secured
Notes Indenture and any other document that may be entered into pursuant to any of the
foregoing.

	 	 	“New Secured Notes Guarantees” shall mean the guarantees of the obligations of the August
2011 Escrow Issuers and/or of the August 2011 Ultimate Issuers under the New Secured Notes
and the New Secured Notes Indenture by the New Secured Notes Guarantors.

	 	 	“New Secured Notes Guarantors” means the Current New Secured Notes Guarantors and any
entity which may accede to the New Secured Notes Indenture as additional guarantor.

	 	 	“New Secured Notes Holders” shall mean the holders from time to time of the New Secured
Notes.

	 	 	“New Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in its
capacity as indenture trustee under the New Secured Notes Indenture and any successor
appointed as indenture trustee under the New Secured Notes Indenture.

	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity whatsoever) of
each Grantor to the Pledgee under each or any of the Credit Documents (including, but not
limited to, the Parallel Obligations), including with respect to all costs, charges and
expenses incurred by the Pledgee in connection with the protection, preservation or
enforcement of its rights under the Credit Documents or any other document evidencing or
securing any such liabilities. The Obligations shall further include any obligation based on
unjust enrichment (ungerechtfertigte Bereicherung) or tort (Delikt).

	 	 	“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes
Indenture, the October 2010 Secured Notes Guarantees, the October 2010 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture relating to

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	 	 	the October 2010 Secured Notes Indenture, any security document relating to the October 2010
Secured Notes and/or the October 2010 Secured Notes Indenture and any other document that
may be entered into pursuant to any of the foregoing.

	 	 	“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations of
the Issuers under the October 2010 Secured Notes and the October 2010 Secured Notes
Indenture by the October 2010 Secured Notes Guarantors.

	 	 	“October 2010 Secured Notes Guarantors” means the Current October 2010 Secured Notes
Guarantors and any entity which may accede to the October 2010 Secured Notes Indenture as
additional guarantor.

	 	 	“October 2010 Secured Notes Holders” shall mean the holders from time to time of the
October 2010 Secured Notes.

	 	 	“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the October 2010 Secured Notes Indenture and any
successor appointed as indenture trustee under the October 2010 Secured Notes Indenture.

	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to the sums owed by such Grantor to the other Secured Parties (or any of them) under the
Credit Documents.

	 	 	“Pledge” and “Pledges” have the meanings given to such terms in Clause 2.1.

	 	 	“Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture, the February 2011 Secured Notes
Indenture, the New Secured Notes Indenture and the First Lien Intercreditor Agreement.

	 	 	“Promissory Note” shall mean any promissory note executed and delivered by a Borrower
upon the request of a Lender evidencing the amount of principal owed by such Borrower to
such Lender under the Credit Agreement.

	 	 	“Secured Parties” shall mean the Lenders (including in their capacity as issuing bank(s)
and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties, the
Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification obligation
undertaken by any Grantor under any Credit Document, the 2009 Senior Secured Notes Holders,
the October 2010 Secured Notes Holders, the February 2011 Secured Notes Holders and the New
Secured Notes Holders, the Indenture Trustee, the October 2010 Secured Notes Indenture
Trustee, the February 2011 Secured Notes Indenture Trustee and the New Secured Notes
Indenture Trustee, the Collateral Agent, the Local Facility Providers and the Cash
Management Banks.

	 	 	“2009 Senior Secured Notes Documents” shall mean the 2009 Senior Secured Notes
Indenture, the 2009 Senior Secured Notes Guarantees, the 2009 Senior Secured Notes, the
Intercreditor Arrangements, any supplemental indenture, any security document relating to
the 2009 Senior Secured Notes and/or the 2009 Senior Secured Notes

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	 	 	Indenture and any other document that may be entered into pursuant to any of the foregoing.

	 	 	“2009 Senior Secured Notes Guarantees” shall mean the guarantees of the obligations of
the Issuers under the 2009 Senior Secured Notes and the 2009 Senior Secured Notes Indenture
by the 2009 Senior Secured Notes Guarantors.

	 	 	“2009 Senior Secured Notes Guarantors” means the Current 2009 Senior Secured Notes
Guarantors and any entity which may accede to the 2009 Senior Secured Notes Indenture as
additional guarantor.

	 	 	“2009 Senior Secured Notes Holders” shall mean the holders from time to time of the
2009 Senior Secured Notes.

	 	 	“Stamp Duty Sensitive Document” shall mean (a) any original of any Credit Document and
(b) any signed document (including email, PDF, TIF and other comparable formats) that
constitutes a deed (Urkunde) within the meaning of section 15 of the Austrian Stamp Duty Act
(as interpreted by the Austrian tax authorities), whether documenting or confirming the
entering into of the relevant transaction (rechtserzeugende Urkunde) or documenting that the
relevant transaction has been entered into (rechtsbezeugende Urkunde), or a substitute deed
(Ersatzurkunde) within the meaning of section 15 of the Austrian Stamp Duty Act (as
interpreted by the Austrian tax authorities), including, without limitation, any notarized
copy, any certified copy and any written minutes recording the transactions
(Rechtsgeschäfte) contemplated by, or referenced in, any Credit Document.

	 	 	“Stamp Duty Guidelines” means the stamp duty guidelines set out in Schedule 5 (Stamp
Duty Guidelines).

	1.2	 	Construction

	 	 	In this Agreement:

	 	(a)	 	capitalised terms used in this Agreement (or in any notice given under this
Agreement) but not defined therein shall have the meanings ascribed thereto in the
First Lien Intercreditor Agreement;

	 	(b)	 	any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule”
shall, subject to any contrary indication, be construed as a reference to a Clause,
sub-Clause or a Schedule hereof; and

	 	(c)	 	to the extent the word “note” or “Note” is used in any other documents in
relation to this Agreement, it shall be construed as if it were a reference to the word
“notes” or “Notes” as defined and used in this Agreement.

	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this

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	 	 	Agreement. However, where a German translation of a word or phrase appears in the text of
this Agreement, the German translation of such word or phrase shall prevail.

	1.4	 	The Pledgor 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 given in accordance with the Principal Finance
Documents. In so acting, the Collateral Agent shall have, subject to the terms of the
Principal Finance Documents, the protections, immunities, rights, indemnities and benefits
conferred on the collateral agent under the Principal Finance Documents.

	1.5	 	For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the other Secured Parties in accordance with Clause 2.02(a) 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 other Secured Parties (acting in
accordance with the Principal Finance Documents) under this Agreement are reasonable, and that
any question as to the reasonableness or otherwise of such instructions shall be determined as
between the other Secured Parties (or any one or more representatives of the Secured Parties
acting in accordance with the Principal Finance Documents) and the Pledgor.

	1.6	 	In the case of any references in this Agreement to the Secured Parties acting through the
Collateral Agent or to the Collateral Agent acting for or on behalf of the Secured Parties, it
is acknowledged that the Pledgee and/or the Secured Parties shall at all times be represented
in accordance with the First Lien Intercreditor Agreement and the Collateral Agent act only on
the instructions given in accordance with the First Lien Intercreditor Agreement.

	1.7	 	Solely for the purposes of Clause 16 (Austrian Stamp Duty) and Schedule 5 (Stamp Duty
Guidelines), “written” shall mean that what is “written” was translated into letters
(Buchstaben) that are or can be made visible on a physical or electronic device of whatever
type and format, including paper and screen, and, accordingly, communication, documents or
notices being “in writing” shall include not only paper-form (letter or fax) communication,
documents or notices but also electronic communication, documents or notices, including by way
of e-mail; and “signed” communication, documents or notices refers to written communication,
documents or notices that carry a manuscript, digital or electronic or other technically
reproduced signature, and “signature” shall be construed accordingly.

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	2.	 	PLEDGE

	2.1	 	The Pledgor hereby pledges to the Pledgee all its present and future rights and claims
(whether conditional or unconditional) arising against any Account Bank from or in relation to
any of the Accounts, including without limitation:

	 	(a)	 	all rights and claims in respect of present and future cash deposits (Guthaben)
(including without limitation saving deposits (Spareinlagen), time deposits
(Termineinlagen) (including fixed deposits (Festgeldguthaben) and termination monies
(Kündigungsgelder)) and call money deposits (Tagesgeldeinlagen) (including deposits for
overnight money, tom/next money, spot/next money and money until further notice (Geld b
..a. w.)) standing from time to time to the credit of the Accounts, including all claims
to interest payable;

	 	(b)	 	in respect of each Account maintained as a giro account (Girokonto) at present
or in the future, (i) all claims in respect of present and future credit balances
(positive Salden), (ii) all claims in respect of present and future credit entries
(gutgeschriebene Beträge), (iii) all claims to interest payable and (iv) all other
present and future monetary rights and claims arising under or in connection with the
respective giro agreement (Girovertrag) (including without limitation all claims to the
grant of a credit entry (Gutschriftanspruch); and

	 	(c)	 	in respect of each Account maintained as a current account (Kontokorrentkonto)
at present or in the future, all present and future rights and claims arising under or
in connection with the respective current account agreement (Kontokorrentabrede)
(including without limitation all claims to determination and acknowledgement of the
current account balance (Anspruch auf Saldofeststellung und -anerkennung), all claims
to present and future current account balances (Saldoforderungen) including the causal
final balance (kausaler Schlusssaldo) and the right to terminate the current account
relationship (Kündigung des Kontokorrents)).

	 	 	(the “Pledge” and/or the “Pledges”).

	2.2	 	The Pledgee hereby accepts the Pledges.

	2.3	 	The Pledges are in addition, and without prejudice, to any other security the Secured Parties
may now or hereafter hold in respect of the Obligations.

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	3.	 	PURPOSE OF THE PLEDGE

	 	 	The Pledges hereunder are constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledges shall also cover any future extension
of the Obligations and the Pledgor herewith expressly agrees that the provisions of Section
1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to
this Agreement.

	4.	 	NOTICE OF PLEDGE

	4.1	 	Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but
not later than twenty business days after the date of this Agreement, and, in relation to any
Account opened after the date of this Agreement, within ten business days after such new
Account has been opened, notify each Account Bank and any other relevant third party of the
Pledges by delivering a notification substantially in the form set out in Schedule 3 (Form of
Notice of Pledge) by registered mail (Einschreiben mit Rückschein). The Pledgor shall provide
the Collateral Agent with a copy of each such notification and of the corresponding return
receipt (Rückschein). In addition, the Pledgor shall use all reasonable efforts to procure
that each Account Bank promptly acknowledges receipt of the respective notification, and
acceptance of the terms thereof, to the Collateral Agent and to the Pledgor.

	4.2	 	Without prejudice to the obligations imposed on the Pledgor in Clause 4.1 and, in the case
of future Accounts, Clause 8.3, the Pledgor hereby authorises the Collateral Agent and
releases it for this purpose from the restrictions of self-dealing under Section 181 of the
German Civil Code to notify each Account Bank and any other relevant third party on its behalf
of this Agreement and the Pledge constituted hereunder by delivering a notification
substantially in the form set out in Schedule 3 (Form of Notice of Pledge), or in such
substantially similar form as the Collateral Agent (acting on behalf of the Secured Parties)
deems appropriate, provided that the Collateral Agent may only make use of this authorisation
if the Pledgor has not complied with the obligations imposed on the Pledgor in Clause 4.1
within 10 business days of being notified of such failure (with a copy of such notice being
sent to Reynolds Group Holdings Limited) and being requested to comply or if an Enforcement
Event has occurred and is continuing.

	4.3	 	The Pledgor shall not be under an obligation to comply with its obligation under Clause 4.1
above whilst an Enforcement Event is not continuing if the Pledgor can prove to the Collateral
Agent (acting on behalf of the Secured Parties) that notifying the relevant Account Bank of
the Pledge created hereunder would not be consistent with, whilst an Enforcement Event is not
continuing, the Pledgor retaining control over and the ability to freely use the balance of
any such Account. The Collateral

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	 	 	Agent will not be required to use its discretion, but will take instructions in accordance
with the First Lien Intercreditor Agreement whether or not to agree with the Pledgor’s
analysis under this Clause 4.3. For the avoidance of doubt, at the date of this Agreement
the Pledgor agrees that notifying the Account Banks of the Pledge created hereunder is not
inconsistent with the Pledgor retaining control over and the ability to freely use the
balance of any Account existing at the date of this Agreement.

	5.	 	PLEDGOR’S RIGHT OF DISPOSAL

	 	 	The Pledgor may exercise all rights and powers in respect of each Account until the
Collateral Agent gives notice to the contrary to the Account Bank with a copy to the
Pledgor. The Pledgee may give such notice only if an Enforcement Event has occurred and is
continuing.

	6.	 	ENFORCEMENT OF THE PLEDGES

	6.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations has
become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on
the instructions of the Secured Parties) may at any time thereafter avail itself of all rights
and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of
Germany.

	6.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise
its rights without obtaining an enforceable judgment or other instrument (vollstreckbarer
Titel). The Pledgee shall be entitled to have the Pledges enforced in any manner allowed under
the laws of the Federal Republic of Germany.

	6.3	 	The Pledgee will notify the Pledgor five business days prior to the enforcement of the Pledge
according to Clause 6. No such notification shall be required if (i) the Pledgor has
generally ceased to make payments (Zahlungseinstellung), (ii) an application for the
institution of insolvency proceedings is filed by or against the Pledgor or (iii) the Pledgee
has reasonable grounds to believe that observance of the notice period will adversely affect
the legitimate interests (berechtigte Interessen) of the Pledgee.

	6.4	 	If the Pledgee (acting on the instructions of the Secured Parties) should seek to enforce the
Pledge pursuant to Clause 6.1 hereof, the Pledgor shall, at its own expense, render
forthwith all necessary assistance in order to facilitate the prompt realisation of the Pledge
and/or the exercise by the Pledgee of any other right it may have as Pledgee.

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	6.5	 	The Pledgee may, in its sole discretion, determine which of several security interests
(created under this or other security agreements) shall be used to satisfy the Obligations.

	6.6	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der Anfechtbarkeit)
and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil
Code.

	6.7	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.

	6.8	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before,
on or after an enforcement of the Pledge, and as a result of the Pledgor entering into this
Agreement, be entitled to demand indemnification or compensation from a Grantor or any
affiliate of a Grantor or assign any of these claims.

	7.	 	AUSTRIAN LIMITATIONS ON ENFORCEMENT

	 	 	The Pledgor and the Pledgee agree that the Pledge shall not be enforced if and to the extent
that such application would violate mandatory Austrian capital maintenance rules
(Kapitalerhaltungsvorschriften) as amended from time to time and as interpreted by the
Austrian Supreme Court from time to time pursuant to Austrian company law, in particular
Sections 82 et seq of the Austrian Act on Limited Liability Companies (Gesetz über
Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of the Austrian
Stock Corporation Act (Aktiengesetz). This limitation on the enforcement of the Pledge
applies from the date this Agreement enters into force as well as on any date until the
termination date of this Agreement, particularly on the date of a possible enforcement of
the Pledge and the payments thereunder.

	8.	 	UNDERTAKINGS OF THE PLEDGOR

	 	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, the Pledgor undertakes to the Pledgee:

	8.1	 	subject to Clause 4.3 to use all reasonable efforts to procure that each Account Bank
releases any existing lien, including without limitation any pledge existing by operation of
its general business conditions (Allgemeine Geschäftsbedingungen), and waives any right of
set-off and right of retention in respect of the Accounts by

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	 	 	countersigning and returning an acknowledgement of notice of pledge substantially in the
form set out in Schedule 3 (Form of Notice of Pledge) to the Pledgor and the Pledgee;

	8.2	 	to instruct each Account Bank to provide the Pledgee following receipt by the relevant
Account Bank of a notice pursuant to Clause 5 with all information requested by it in
respect of the Accounts and to that extent to release each Account Bank from its obligation to
maintain confidentiality (Bankgeheimnis) by delivering a notice of pledge to the respective
Account Bank in accordance with the requirements set out in Clause 4.1 or, in the case of
any future Account, Clause 8.3. The Pledgor undertakes not to revoke such instruction during
the term of this Agreement, other than in respect of an Account which is closed or disposed of
in accordance with the terms of the Credit Documents;

	8.3	 	to notify the Pledgee without undue delay substantially in the form set out in Schedule 4
(Form of Notification of Future Accounts) of each new bank account opened by the Pledgor with
a credit institution in the Federal Republic of Germany in accordance with Clause 4 above.
For the avoidance of doubt, the Pledgor is aware that any new bank account opened within the
Federal Republic of Germany will become an Account in the meaning of this Agreement upon
notice to the Account Bank and will be subject to the Pledge and the obligations assumed by
the Pledgor hereunder without any further agreement;

	8.4	 	to close any of the Accounts only upon giving 5 business days prior notice to the Pledgee and
provided that the Pledgee has not given a notice pursuant to Clause 5;

	8.5	 	to deliver to the Pledgee, within three months after the end of each calendar year ending
after January 2012, and at any time upon reasonable request of the Pledgee, up-to date account
statement sheets (Kontoauszüge) showing the balance on each of the Accounts, provided that the
Pledgee shall not request such information more than one additional time in any one year prior
to the occurrence of an Enforcement Event that is continuing;

	8.6	 	with regard to any account books (Sparbücher) and any other documents which are necessary to
dispose over (verfügen) any of the Accounts, the Pledgor undertakes to deliver the originals
of such documents to the Pledgee without undue delay if the Pledgee has given a notice
pursuant to Clause 5 and to deliver to the Pledgee upon its reasonable request following
such event without undue delay any documents or other information concerning the Accounts, in
particular (but not limited to) the account opening documents and any agreements between the
Account Bank and the Pledgor in relation to the Accounts;

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	8.7	 	not to grant to any third party any rights in respect of the Accounts (keine Und-Konten oder
Oder-Konten oder sonstige Rechte Dritter) (other than those arising under the relevant Account
Bank’s general business conditions (Allgemeine Geschäftsbedingungen) and under the Existing
Account Pledge Agreements) without the prior written consent of the Collateral Agent (as
instructed in accordance with the Principal Finance Documents) (such consent not to be
unreasonably withheld);

	8.8	 	to inform the Pledgee without undue delay of any attachment (Pfändung) and any third parties
bringing claims in respect of any of the Accounts, such notice to be accompanied by any
documents the Pledgee might need to defend itself against any claim by a third party. In the
case of any attachment (Pfändung) in respect of any of the Accounts, the Pledgor undertakes to
forward to the Pledgee without undue delay a copy of the attachment order
(Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all other documents
necessary for a defence against the attachment. The Pledgor shall inform the attaching
creditor of the Pledge without undue delay;

	8.9	 	except as otherwise agreed pursuant to the Principal Finance Documents, insofar as additional
declarations or actions are necessary for the creation of the Pledge, the Pledgor shall, at
the Collateral Agent’s reasonable request (acting on the reasonable instructions of the
Secured Parties), make such declarations and undertake such actions at the Pledgor’s costs and
expenses; and

	8.10	 	for the avoidance of doubt, notification and delivery requirements as set out in sub-Clauses
8.3, 8.4, 8.5, 8.6 and 8.8 of this Agreement are deemed to be satisfied if and to the
extent such notification or information has been delivered under the Existing Account Pledge
Agreements provided that such notification or delivery to the Pledgee makes reference to this
Agreement and each Existing Account Pledge Agreement.

	9.	 	DELEGATION

	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement on such terms and conditions
as it shall see fit. The Pledgee shall only remain liable for diligently selecting and
providing initial instructions to such delegate.

	10.	 	INDEMNITY

	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, the Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the
Pledgee, its agents its attorneys and any delegate against any action, proceeding, claims,
losses, liabilities, damages, expenses, demands, taxes, losses and costs which it may
sustain as a consequence of any breach by the Pledgor of the

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	 	 	provisions of this Agreement, the exercise or purported exercise of any of the rights and
powers conferred on them by this Agreement or otherwise relating to the Pledge.

	11.	 	NO LIABILITY

	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any action
permitted by this Agreement or (b) any neglect or default in connection with the assets and
rights subject to the security interest created hereunder, save in respect of any loss or
damage which is suffered as a result of wilful misconduct (Vorsatz) or gross negligence
(grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or delegate(s), or (c) the
enforcement or realisation of all or any part of the security interest created hereunder.

	12.	 	DURATION AND INDEPENDENCE

	12.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if the Grantors under the Credit Documents
have only temporarily discharged the Obligations.

	12.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgor pursuant to it.

	12.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Pledgee. None of such other security shall prejudice, or shall be
prejudiced by, or shall be merged in any way with this Agreement.

	12.4	 	Waiving Section 418 of the German Civil Code, the Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.

	13.	 	RELEASE (PFANDFREIGABE)

	13.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practical declare in writing the release of the Pledge (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon
full and complete satisfaction of the Obligations the Pledge, due to its accessory nature
(Akzessorietät), ceases to exist by operation of German mandatory law.

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	13.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any of
the other Grantors to secure the Obligations (the “Security”), which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert), exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of the Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) may in its reasonable discretion
determine so as to reduce the realisable value of the Security to the Limit.

	13.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement) will as
soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to
the Pledgor in accordance with, and to the extent required by, the Intercreditor Arrangements.

	14.	 	PARTIAL INVALIDITY; WAIVER

	14.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction (including Austrian law, in
particular Austrian capital maintenance rules), such provision shall as to such jurisdiction,
be ineffective to the extent necessary without affecting or impairing the validity, legality
and enforceability of the remaining provisions hereof or of such provisions in any other
jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to be replaced
with such valid, legal or enforceable provision which comes as close as possible to the
original intent of the parties and the invalid, illegal or unenforceable provision. Should a
gap (Regelungslücke) become evident in this Agreement, such gap shall, without affecting or
impairing the validity, legality and enforceability of the remaining provisions hereof, be
deemed to be filled in with such provision which comes as close as possible to the original
intent of the parties.

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

	15.	 	AMENDMENTS

	 	 	Changes and amendments to this Agreement including this Clause 15 shall be made in
writing.

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	16.	 	AUSTRIAN STAMP DUTY

	16.1	 	The parties to this Agreement (each a “Party” and together the “Parties”) shall perform their
obligations under or in connection with the Agreement exclusively at the Place of Performance
(as defined below), but in no event at a place in Austria and the performance of any
obligations or liability under or in connection with the Agreement within the Republic of
Austria shall not constitute discharge or performance of such obligation or liability. For the
purposes of the above, “Place of Performance” means: (i) in relation to any payment under or
in connection with the Agreement, the place at which such payment is to be made pursuant to
the Credit Documents; and (ii) in relation to any other obligation or liability under or in
connection with the Agreement, the premises of the Administrative Agent or the Indenture
Trustee (as the case may be) in New York or any other place outside of Austria as the
Administrative Agent or the Indenture Trustee (as the case may be) may specify from time to
time. Any payment made under or in connection with the Agreement shall be made from and to an
account outside of Austria.

	16.2	 	No Party shall bring or send to, or otherwise produce in, Austria a Stamp Duty Sensitive
Document or communicate in writing other than in compliance with the Stamp Duty Guidelines, in
each case other than in the event that: (i) it does not cause a liability of a Party to pay
stamp duty in the Republic of Austria; (ii) a Party wishes to enforce any of its rights under
or in connection with a Credit Document in any form of proceedings in the Republic of Austria
and is only able to do so by bringing or sending to, or otherwise producing in, Austria a
Stamp Duty Sensitive Document and it would not be sufficient for that Party to bring or send
to, or otherwise produce in, Austria a document that is not a Stamp Duty Sensitive Document
(e.g. a simple/uncertified copy (i.e. a copy which is not an original, notarised or certified
copy) of the relevant Stamp Duty Sensitive Document) for the purposes of such enforcement; in
furtherance of the foregoing, no Party shall (A) object to the introduction into evidence of
an uncertified copy of any Stamp Duty Sensitive Document or raise a defence to any action or
to the exercise of any remedy on the basis of an original or certified copy of any Stamp Duty
Sensitive Document not having been introduced into evidence, unless such uncertified copy
actually introduced into evidence does not accurately reflect the content of the original
document and (B) if such Party is a party to proceedings before an Austrian court or
authority, contest the authenticity (Echtheit) of an uncertified copy of any such Stamp Duty
Sensitive Document, unless such uncertified copy actually introduced into evidence does not
accurately reflect the content of the original document; or (iii) a Party is required by law,
governmental body, court, authority or agency pursuant to any legal requirement (whether for
the purposes of initiating, prosecuting, enforcing or executing any claim or remedy or
enforcing any judgment or

- 22 -

 

	 	 	otherwise) to bring or send a Stamp Duty Sensitive Document into, or otherwise produce a
Stamp Duty Sensitive Document in, the Republic of Austria.

	16.3	 	The Pledgor shall indemnify the Administrative Agent, each Lender, each Issuing Bank, the
Indenture Trustee and the Collateral Agent against any cost, loss or liability in respect of
Austrian stamp duty unless such cost, loss or liability is incurred as a result of the
Administrative Agent, a Lender, an Issuing Bank, the Indenture Trustee or the Collateral Agent
breaching any obligations under this Clause 16, in which case the breaching party shall be
liable for payment of such stamp duty.

	17.	 	NOTICES AND THEIR LANGUAGE

	17.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 	 	 

	 

	 	For the Pledgor:
	 	c/o SIG Combibloc Holding GmbH
	 	
	 
	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	Rurstraße 58
	 

	 	 	 	 	 	52441 Linnich
	 

	 	 	 	 	 	Germany
	 
	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+41 52674 6556
	 
	 	 	 	 	 	 
	 

	 	 	 	Attention:
	 	Daniel Petitpierre
	 
	 	 	 	 	 	 
	 

	 	 	 	Email:
	 	Daniel.Petitpierre@sig.biz
	 
	 	 	 	 	 	 
	 

	 	For the Pledgor with a copy to:
	 		 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	 	 	Level 22,
	 

	 	 	 	 	 	20 Bond Street,
	 

	 	 	 	 	 	Sydney NSW 2000
	 

	 	 	 	 	 	Australia
	 
	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+64 2 9268 6693
	 
	 	 	 	 	 	 
	 

	 	 	 	Email:
	 	helen.golding@rankgroup.co.nz
	 
	 	 	 	 	 	 
	 

	 	 	 	Attention:
	 	Helen Golding

- 23 -

 

	 	 	 	 	 	 	 

	 

	 	For the Collateral Agent:
	 	Wilmington Trust (London) Limited
	 	
	 
	 	 	 	 	 	 
	 

	 	 	 	Address:
	 	Third Floor,
	 

	 	 	 	 	 	1 King’s Arms Yard,
	 

	 	 	 	 	 	London, EC2R 7AF,
	 

	 	 	 	 	 	United Kingdom
	 
	 	 	 	 	 	 
	 

	 	 	 	Fax:
	 	+44 (0)20 7397 3601
	 
	 	 	 	 	 	 
	 

	 	 	 	Attention:
	 	Paul Barton

	17.2	 	Any party hereto may change its address or fax number for notices and other communications
hereunder by notice to the other parties hereto. As agreed to in writing in accordance with
the First Lien Intercreditor Agreement, notices and other communications hereunder may also be
delivered by e-mail to the e-mail address of a representative of the applicable party to this
Agreement provided from time to time by such party.

	17.3	 	All notices and other communications given to any party in connection with this Agreement in
accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by fax or on the date
five business days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Clause 17 or
in accordance with the latest unrevoked direction from such party given in accordance with
this Clause 17.
	 
	17.4	 	Any notice or other communication under or in connection with this Agreement shall be in the
English language or, if in any other language, accompanied by a translation into English. In
the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	17.5	 	No communication (including fax, electronic message or communication in any other written
form) under or in connection with the Credit Documents shall be made to or from an address
located inside of the Republic of Austria.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the courts in Frankfurt am Main. The Pledgee however, shall

- 24 -

 

	 	 	also be entitled to take action against the Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Pledgor in any one or more
jurisdictions shall not preclude the taking of proceedings in any other jurisdiction
(whether concurrently or not) if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of signed
signature page(s), transmitted by means of telecommunication (telekommunikative Übermittlung)
by fax or attached as an electronic photocopy (pdf., tif., etc.) to an e-mail.
	 
	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
19.1 above, they will transmit the signed signature page(s) of this Agreement to attention
of Isabel van Bremen or Axel Schlieter (isabel.vanbremen@cliffordchance.com or
axel.schlieter@cliffordchance.com, fax: +49 211 43 55 5600) (each a “Recipient”). The
Agreement will be considered concluded once any of the Recipients has actually received the
signed signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement
and at the time of the receipt of the last outstanding signature page(s).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

- 25 -

 

SIGNATURE PAGE

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

	 	 	 	 	 
	SIG Combibloc GmbH & Co KG,

represented by its general partner SIG Combibloc GmbH

as Pledgor

 	 
	By:  	/s/ Jennie Blizard
 	 
	 	Name:  	Jennie Blizard 	 
	 	Title:  	Attorney 	 
	 
	Wilmington Trust (London) Limited

as Collateral Agent and Pledgee

 	 
	By:  	/s/ Paul Barton
 	 
	 	Name:  	Paul Barton 	 
	 	Title:  	Relationship Manager 	 

- 26 -

 

	 	 	 	 	 

SCHEDULE 1

PART 1

LIST OF CURRENT BORROWERS

     SIG Euro Holding AG & Co. KGaA

     Closure Systems International Holdings Inc.

     Closure Systems International B.V.

     SIG Austria Holding GmbH

     Reynolds Consumer Products Holdings Inc.

     Reynolds Group Holdings Inc.

     Pactiv Corporation

PART 2

LIST OF CURRENT GUARANTORS, CURRENT 2009 SENIOR SECURED NOTES

GUARANTORS, CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

AND CURRENT FEBRUARY 2011 SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

     Closure Systems International (Brazil) Sistemas de Vedação Ltda.

     CSI Latin American Holdings Corporation

     Evergreen Packaging Canada Limited

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

- 27 -

 

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

- 28 -

 

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

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

     Evergreen Packaging (Luxembourg) S.à r.l.

     Reynolds Group Issuer (Luxembourg) S.A.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

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

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

- 29 -

 

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

- 30 -

 

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     Pactiv Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

     Conference Cup Ltd.

     Dopaco Canada, Inc.

- 31 -

 

     Dopaco, Inc.

     Garven Incorporated

     Central de Bolsas, S. de R.L. de C.V.

     Servicios Industriales Jaguar, S. de C.V.

     Servicio Terrestre Jaguar, S. de C.V.

     Grupo Corporativo Jaguar, S. de C.V.

     Pactiv México, S. de R.L. de C.V.

PART 3

LIST OF CURRENT NEW SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

     Closure Systems International (Brazil) Sistemas de Vedação Ltda.

     CSI Latin American Holdings Corporation

     Evergreen Packaging Canada Limited

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

- 32 -

 

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

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

- 33 -

 

     Evergreen Packaging (Luxembourg) S.à r.l.

     Reynolds Group Issuer (Luxembourg) S.A.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

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

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

- 34 -

 

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

- 35 -

 

     BRPP, LLC

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     Pactiv Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

     Conference Cup Ltd.

     Dopaco Canada, Inc.

     Dopaco, Inc.

     Garven Incorporated

     Central de Bolsas, S. de R.L. de C.V.

     Servicios Industriales Jaguar, S. de C.V.

     Servicio Terrestre Jaguar, S. de C.V.

- 36 -

 

     Grupo Corporativo Jaguar, S. de C.V.

     Pactiv México, S. de R.L. de C.V.

- 37 -

 

SCHEDULE 2

LIST OF ACCOUNTS

	 	 	 	 	 	 	 	 	 
	 	 	Bank Sort Code	 	Name and address of	 	 	 	 
	(Sub-) Account No.	 	(Bankleitzahl)	 	Account Bank	 	Type of account	 	Currency
	[               ]

	 	SWIFT:

DEUTDEDDXXX
	 	Deutsche Bank AG,
Königsallee 45/47, 40189 Düsseldorf,
Germany
	 	Current
	 	Euro
	 
	 	 	 	 	 	 	 	 
	 

	 	IBAN:

[                                           ]
	 		 	 	 	 
	 
	 	 	 	 	 	 	 	 
	[               ]

	 	SWIFT:

TUBDDEDDXXX

	 	HSBC Trinkaus & Burkhardt AG,
Königsallee 21/23, 40212 Düsseldorf,
Germany
	 	Current
	 	Euro
	 
	 	 	 	 	 	 	 	 
	 

	 	IBAN:
 [                                           ]	 	 	 	 	 	 

- 38 -

 

SCHEDULE 3

FORM OF NOTICE OF PLEDGE

     The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of the Account Pledge Agreement (as defined below)) in Austria or
sending any e-mail communication to which a pdf scan of this document is attached to an Austrian
addressee or sending any e-mail communication carrying an electronic or digital signature which
refers to any Credit Document to an Austrian addressee may cause the imposition of Austrian stamp
duty. Accordingly, keep the original document as well as all certified copies thereof and written
and signed references to it outside of Austria and avoid printing out any email communication which
refers to any Credit Document in Austria or sending any e-mail communication to which a pdf scan of
this document is attached to an Austrian addressee or sending any e-mail communication carrying an
electronic or digital signature which refers to any Credit Document to an Austrian addressee.

[Letterhead of Pledgor]

	 	 	 	 	 

	 

	 	Absender/From:
	 	[Pledgor]
	 
	 	 	 	 
	 

	 	An/To:
	 	[Account Bank]
	 
	 	 	 	 
	 

	 	Datum/Date:
	 	[•]

	 	 	 	 	 	 	 

	 

	 	Verpfändungsanzeige
	 	 	 	Notice of Pledge
	 
	 	 	 	 	 	 
	 

	 	Betrifft: Konto Nr. [•]
	 	 	 	Re: Account No. [•]
	 
	 	 	 	 	 	 
	 

	 	Sehr geehrte Damen und Herren,
	 	 	 	Dear Sirs,

	 	 	 

	wie Ihnen bekannt ist, haben wir gemäß eines
Kontenverpfändungsvertrags vom 4. März 2010 (der
“Kontenverpfändungsvertrag 1”), eines
Kontenverpfändungsvertrags vom 14. Januar 2011 (der
“Kontenverpfändungsvertrag 2”) und eines
Kontenverpfändungsvertrags vom 7. Juni 2011 (der
“Kontenverpfändungsvertrag 3”) alle Ansprüche einschließlich
Zinsen aus dem

	 	As you are aware, by an
account pledge agreement dated
4 March 2010 (the “Account
Pledge Agreement 1”), by an
account pledge agreement dated
14 January 2011 (the “Account
Pledge Agreement 2”) and by an account pledge agreement dated
7 June 2011 (the “Account
Pledge Agreement 3”), we have
pledged in favour of
Wilmington Trust (London)
Limited

- 39 -

 

	 	 	 

	o.g. Konto (inklusive aller Unterkonten,
etwaigen Neueröffnungen, Verlängerungen, Umbenennungen und
Festgeldkonten davon) zu Gunsten von Wilmington Trust (London)
Limited (“Sicherheitentreuhänder”) und anderen verpfändet. Die
Verpfändung umfasst alle Arten von Kontoguthaben sowie alle
daraus zeitanteilig anfallenden Zinsen. Kopien des
Kontenverpfändungsvertrages 1, des Kontenverpfändungsvertrages
2 und des Kontenverpfändungsvertrages 3 hatten wir unseren
Schreiben beigefügt.

	 	 (the “Collateral
Agent”) and others all of our
right, title and interest in
and to the above account
(which shall include all
sub-accounts, renewals,
replacements, redesignations
and related fixed deposit
accounts thereof) and all
monies and interest from time
to time standing or accruing
to the credit thereof. Copies
of the Account Pledge
Agreement 1, Account Pledge
Agreement 2 and Account Pledge
Agreement 3 were attached to
our letters.
	 
	 	 
	Gemäß eines Bestätigungs- und Ergänzungsvertrages zum
Kontenverpfändungsvertrag 1 vom 27. August 2010 (der
“Bestätigungs- und Ergänzungsvertrag”) wurde der
Kontenverpfändungsvertrag 1 dahingehend bestätigt und ergänzt,
dass, unter anderem, auch die Erhöhung bestehender
Kreditlinien umfasst wird, die bereits durch den
Kontenverpfändungsvertrag 1 besichert sind. Eine Kopie des
Bestätigungs- und Ergänzungsvertrags hatten wir unseren
Schreiben beigefügt.

	 	Pursuant to a confirmation and
amendment agreement relating
to the Account Pledge
Agreement 1 dated 27 August
2010 (the “Confirmation and
Amendment Agreement”), the
Account Pledge Agreement 1 has
been confirmed and amended to
the effect that, inter alia,
it also secures the increase
of existing facilities which
are already secured by the
Account Pledge Agreement 1. A
copy of the Confirmation and
Amendment Agreement was
attached to our letters.
	 
	 	 
	     Hiermit zeigen wir Ihnen an, dass wir gemäß Ziffer
2.1 des hier in Kopie beigefügten
Kontenverpfändungsvertrags vom [•] alle Rechte und
Ansprüche bezüglich des o. g. Kontos und aller
sonstigen bei Ihnen geführten Konten (die
“Konten”) (inklusive aller Unterkonten,
etwaiger Neueröffnungen, Verlängerungen,
Umbenennung und Festgeldkonten) zu Gunsten des
Sicherheitentreuhänders verpfändet haben.

	 	     We hereby give you notice that
pursuant to Clause 2.1 of a
account pledge agreement dated
[•], a copy of which is
attached hereto, we have
pledged in favour of the
Collateral Agent all of our
rights and claims in respect
of the above account and all
other accounts maintained with
you from time to time (the
“Accounts”) (including all
sub-accounts thereof,
renewals, replacements,
redesignations and related
fixed deposit accounts
thereof).
	 
	 	 
	     Die Verpfändung umfasst insbesondere alle
Ansprüche auf gegenwärtige und zukünftige Guthaben
(einschließlich Spareinlagen, Termineinlagen,
Festgeldeinlagen und Tagesgeldeinlagen) und
positive Salden sowie alle darauf anfallenden
Zinsen.

	 	     The pledge comprises in
particular all claims to
present and future cash
deposits (including saving
deposits, time deposits, fixed
deposits and call money
deposits) and credit balances
and all claims to interest
payable in relation thereto.

- 40 -

 

	 	 	 

	     Solange Sie als kontoführende Bank keine
gegenteilige Nachricht vom
Sicherheitentreuhänder erhalten, sind wir
ermächtigt, über die Konten und
insbesondere die Kontenguthaben zu verfügen. Im
Fall des Erhalts einer entsprechenden Nachricht
sind Sie als kontoführende Bank gehalten,
keinerlei Verfügungen unsererseits über die
Konten und die Kontenguthaben mehr
zuzulassen.

	 	     Until notice to the contrary
from the Collateral Agent to
be served on you as account
bank, we may continue to
operate the Accounts and in
particular may dispose over
the amounts standing to the
credit thereof. Upon receipt
of such aforesaid notice to
the contrary, you as account
bank shall not allow any
dispositions by us of the
Accounts and of the amounts
standing to the credit
thereof.
	 
	 	 
	     Wir verzichten hiermit in Bezug auf alle bei Ihnen
geführten Konten zu Gunsten des
Sicherheitentreuhänders auf unser Recht
auf Vertraulichkeit (Bankgeheimnis) und
beauftragen und ermächtigen Sie hiermit, nachdem
Sie die o.g Nachricht vom
Sicherheitentreuhänder erhalten haben,
dem Sicherheitentreuhänder auf sein
Verlangen jede gewünschte Information im Hinblick
auf solche Konten zu geben.

	 	     We herewith waive all rights
of confidentiality
(Bankgeheimnis) in relation to
all accounts held with you for
the benefit of the Collateral
Agent. If you have received
the above notice from the
Collateral Agent we hereby
instruct and authorise you to
provide the Collateral Agent
with any information requested
by it in respect of such
accounts.
	 
	 	 
	     Diese Verpfändungsanzeige unterliegt deutschem
Recht.

	 	     This notice of pledge shall be
construed in accordance with
German law.
	 
	 	 
	     In Zweifelsfällen gilt die deutsche Fassung dieser
Verpfändungsanzeige.

	 	     In cases of doubt the German
version of this notice of
pledge shall prevail.
	 
	 	 
	     Wir bitten Sie, die dieser Verpfändungsanzeige
beigefügte Empfangsbestätigung als Zeichen Ihres
Einverständnisses mit den hierin und in der
Empfangsbestätigung genannten Bestimmungen
unterzeichnet sowohl an uns als auch an den
Sicherheitentreuhänder zu senden. Die
Adresse des Sicherheitentreuhänders ist
die folgende:

	 	     Please sign the enclosed
Acknowledgement of Notice of
Pledge in order to acknowledge
receipt of this notice and
your agreement to the terms
set out herein and in the
enclosed Acknowledgement and
return the same to us and to
the Collateral Agent. The
address of the Collateral
Agent is the following:

[name and address of Collateral Agent].

	 	 	 

	Mit freundlichen Grüßen

	 	Yours faithfully

- 41 -

 

[Pledgor]

 

(Geschäftsführer/Managing Director)

- 42 -

 

[Letterhead of Account Bank]

	 	 	 	 	 

	 

	 	Absender/From:
	 	[Account Bank]
	 
	 	 	 	 
	 

	 	An/ To:
	 	[Collateral Agent]und/and [Pledgor]
	 
	 	 	 	 
	 

	 	Datum/ Date:
	 	[•]

	 	 	 

	     Bestätigung des Empfangs einer 

Verpfändungsanzeige

	 	     Acknowledgement of Notice of
Pledge
	 
	 	 
	     Betrifft: Konto Nr. [•]

	 	     Re: Account No. [•]
	 
	 	 
	     Sehr geehrte Damen und Herren,

	 	     Dear Sirs,
	 
	 	 
	     Wir bestätigen hiermit den Erhalt der
Verpfändungsanzeige vom [Datum] sowie
der Kopie des
Kontoverpfändungsvertrags vom [•] und
unser Einverständnis mit den darin
enthaltenen Bestimmungen.

	 	     We hereby acknowledge receipt
of the notice of pledge dated
[date] and of a copy of the
account pledge agreement dated
[•] and confirm our agreement
with the terms set out
therein.
	 
	 	 
	     Wir versichern, dass wir keine
Verpfändungsanzeige bzgl. der
verpfändeten Konten erhalten haben,
außer Ihrer Anzeigen vom [•] und vom
[•] und uns mit Ausnahme unseres
AGB-Pfandrechts keine Rechte Dritter
an den verpfändeten Konten bekannt
sind.

	 	     We confirm that we have
neither received any previous
notice of pledge relating to
the pledged accounts nor are
we aware of any third party
rights in relation to the
accounts other than your
notice dated [•] and [•] and
except for the right of pledge
arising pursuant to our
general business conditions.
	 
	 	 
	     Wir verpflichten uns hiermit, sowohl
im eigenen Namen als auch für unsere
jeweiligen Rechtsnachfolger, die in
der obengenannten Verpfändungsanzeige
enthaltenen Bestimmungen und
Anweisungen zu befolgen.

	 	     We hereby confirm on behalf of
ourselves and our legal
successors in title that we
will act in accordance with
the terms and instructions set
out in the notice of pledge
referred to above.

- 43 -

 

	 	 	 

	     Wir verzichten hiermit unwiderruflich
und bedingungslos auf jegliche
Aufrechnungs- und
Zurückbehaltungsrechte bzgl. der
Konten, wobei es unser Verständnis
ist, dass Saldierungen bei
Kontokorrentkonten weiterhin
vorgenommen und Kontoführungsgebühren
und retournierte Schecks den Konten
weiterhin ohne Einschränkung belastet
werden dürfen.

	 	     We hereby irrevocably and
unconditionally waive our
rights in respect of and agree
not to make any set-off from
the Accounts or invoke any
rights of retention in
relation to the Accounts; it
being understood that the
balancing of current accounts
shall be permitted and that
account-keeping fees and
returned cheques may
furthermore be debited without
restriction.
	 
	 	 
	     Des Weiteren erklären wir hiermit,
dass wir das aufgrund unserer
Allgemeinen Geschäftsbedingungen an
den Konten bestehende Pfandrecht
aufgeben.

	 	     We hereby release the pledge
granted in our favour in
respect of the Accounts
pursuant to our General
Business Conditions.
	 
	 	 
	     Dieses Schreiben unterliegt deutschem
Recht.

	 	     This letter shall be construed
in accordance with German law.
	 
	 	 
	     In Zweifelsfällen gilt die deutsche
Fassung dieses Schreibens.

	 	     In cases of doubt the German
version of this letter shall
prevail.
	 
	 	 
	     Mit freundlichen Grüßen

	 	     Yours faithfully

[Account Bank]

 

([Name des Unterzeichners/name of signatory])

- 44 -

 

SCHEDULE 4

FORM OF NOTIFICATION OF FUTURE ACCOUNTS

     The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of the Account Pledge Agreement (as defined below)) in Austria or
sending any e-mail communication to which a pdf scan of this document is attached to an Austrian
addressee or sending any e-mail communication carrying an electronic or digital signature which
refers to any Credit Document to an Austrian addressee may cause the imposition of Austrian stamp
duty. Accordingly, keep the original document as well as all certified copies thereof and written
and signed references to it outside of Austria and avoid printing out any email communication which
refers to any Credit Document in Austria or sending any e-mail communication to which a pdf scan of
this document is attached to an Austrian addressee or sending any e-mail communication carrying an
electronic or digital signature which refers to any Credit Document to an Austrian addressee.

	 	 	 

	From:

	 	[Pledgor]
	 
	 	 
	To:

	 	[Collateral Agent], on its own behalf and for and on behalf of the
Secured Parties (as defined in the Account Pledge Agreement, as
defined below)
	 
	 	 
	Date:

	 	[Date of Notification]
	 
	 	 
	Re:

	 	Account pledge agreement dated [date of this Agreement] between us
as pledgor and you (the “Account Pledge Agreement”)

Dear Sirs,

     In accordance with Clause 8.3 of the Account Pledge Agreement, we hereby give you notice that
we [will open/have opened] the following bank account (the “New Account”):

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Bank	 	 	Name and address of	 	 	 	 
	(Sub-)	 	Sort Code	 	 	Account Bank (the	 	 	Type of	 
	Account No.	 	(Bankleitzahl)	 	 	“Account Bank”)	 	 	Account	 
	[•]
	 	 	[•]	 	 	 	[•]	 	 	 	[•]	 

     Capitalised terms not otherwise defined herein shall have the meaning ascribed thereto in the
Account Pledge Agreement.

     We hereby confirm that all our present and future rights and claims (whether conditional or
unconditional) arising against the Account Bank from or in relation to the New Account (as
specified in Clause 2.1 of the Account Pledge Agreement) are pledged to the Pledgee pursuant to
the Account Pledge Agreement as security for the Obligations. We expressly acknowledge that all
obligations imposed on us in the Account Pledge Agreement in respect of the Accounts also apply for
the New Account.

     By way of an independent guarantee (selbstständiges Garantieversprechen), we make the
representations and warranties set out in Clauses 8.2 of the Account Pledge Agreement in respect of
the New Account.

     [In accordance with Clause 8.3 of the Account Pledge Agreement, we enclose a copy of the
notice of pledge we have given to the Account Bank in respect of the New Account as well as an
original copy of the acknowledgement countersigned by the Account Bank.]

	 	 	 	 	 
	 	[Pledgor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Managing Director (Geschäftsführer) 	 

46

 

	 	 	 	 	 

SCHEDULE 5

STAMP DUTY GUIDELINES

	1.	 	Introduction

	1.1	 	These stamp duty guidelines (the “Guidelines”) shall apply to all written communi-cation of
the parties to this Agreement of which this Schedule 5 forms part.

	1.2	 	In these Guidelines, unless a contrary indication appears a term defined in the Agreement
(including by way of reference) has the same meaning when used in these Guidelines.

	2.	 	Guidelines for Written Communication

	2.1	 	Signed written communication that records or otherwise provides evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body
of the relevant communication, a schedule, an attachment, an annex or an appendix referred to
therein or incorporated by reference (Bezugnahme), may only be made from an address outside of
the Republic of Austria to an address outside of the Republic of Austria. For the avoidance of
doubt, e-mails where the server on which such e-mails will be received or from which such
e-mails will be sent is located in the Republic of Austria (e.g. this may be indicated by an
e-mail address having a country code top level domain “.at”) or other e-mail addresses where
the person sending or the person receiving such e-mail have their ordinary workplace
(Arbeitsplatz) in the Republic of Austria must not be signed (see also clause 2.2. and 2.3.
below).

	2.2	 	Letters that record or otherwise provide evidence of a transaction (Rechtsgeschäft)
contemplated by, or referenced in, any Credit Document, whether in the body of the letter, a
schedule, an attachment, an annex or an appendix referred to therein or incorporated by
reference (Bezugnahme), may only be brought or sent into, or pro-duced in, the Republic of
Austria in the following format (provided that no Stamp Duty Sensitive Document is attached):

	 	 	[party’s letterhead]

47

 

	 	 	Dear....,

	 	 	[text of message]
	 
	 	 	Kind regards

     NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)

	 	 	NO CONTACT DETAILS

	 	 	DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT

	 	 	CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED

	2.3	 	E-mails and fax messages that record or otherwise provide evidence of a transaction
(Rechtsgeschäft) contemplated by, or referenced in, any Credit Document, whether in the body
of the e-mail or fax, a schedule, an attachment, an annex or an appendix referred to therein
or incorporated by reference (Bezugnahme), may only be brought or sent into, or produced in,
the Republic of Austria if in the following format (provided that no Stamp Duty Sensitive
Document is attached):

	 	 	Dear....,

	 	 	[text of message].

	 	 	Kind regards

     NO SIGNATURE OF SENDING PARTY (WHETHER MANUSCRIPT, DIGITAL OR ELECTRONIC)

     NO CONTACT DETAILS OR OTHER AUTOMATICALLY GENERATED FOOTERS THAT REFER TO A PARTY

48

 

DO NOT ATTACH A STAMP DUTY SENSITIVE DOCUMENT

CONFIDENTIALITY NOTICES AND OTHER FOOTERS ALLOWED

     In addition, the footer of such e-mails must not contain the company name, contact
details or any other information allowing identification of the sender. The company name,
contact details etc. of the original sender of a reply or forwarded message need not be
deleted.

49

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