Document:

exv4w485

EXHIBIT 4.485

AMENDMENT AGREEMENT NO. 5

Dated 8 September 2011

for

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY) KFT.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

FLOATING CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010, 16

NOVEMBER 2010, 1 FEBRUARY 2011 AND 9 FEBRUARY

2011

 

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 Loan
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 Loan 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 Loan 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 Loan
Document to an Austrian addressee.

 

 

THIS AMENDMENT AGREEMENT (the “Agreement”) is made on 8 September 2011

BETWEEN:

	(1)	 	Closure Systems International Holdings (Hungary) Vagyonkezelo Korlátolt Felelosségu Társaság,
a limited liability company incorporated under the laws of Hungary, having its registered
office as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court acting as court of registration under registration
number Cg. 07-09-015084, as chargor under this Agreement (hereinafter referred to as the
“Chargor”);

	 	 	and

	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);

		 	(1)and (2) are together hereinafter referred to as the “Parties” and “Party” means any of
them, as the context may require.

RECITALS:

	(A)	 	The Parties hereby declare that the Floating Charge Agreement (as defined below) was
originally concluded on 29 January 2010 between the Chargee and the Chargor, pursuant to both
(i) a credit agreement dated 5 November 2009 (as subsequently amended, amended and restated,
supplemented and/or as otherwise modified) between among others Reynolds Group Holdings Inc.,
Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG
Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation, Closure Systems
International B.V., the other borrowers party thereto, the lenders from time to time parties
thereto, and Credit Suisse AG as administrative agent (the “Credit Agreement”) and (ii) an
indenture dated 5 November 2009 between, among others, Reynolds Group Escrow LLC, Reynolds
Group DL Escrow Inc. and The Bank of New York Mellon, as trustee, principal paying agent,
transfer agent and registrar, as modified, amended or supplemented from time to time (the
“2009 Indenture”), and the Floating Charge Agreement was amended pursuant to, among others,
(x) an indenture dated 15 October 2010 between, among others, RGHL US Escrow I Inc., RGHL US
Escrow I LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and 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, as modified, amended or supplemented
from time to time (the “2010 Indenture”) and (y) an indenture dated 1 February 2011 between,
among others, Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer
(Luxembourg) S.A. and 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, as modified, amended or supplemented
from time to time (the “February 2011 Indenture”).

- 1 -

 

	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Indenture certain parties have entered into a first lien intercreditor
agreement dated 5 November 2009 between, among others, The Bank of New York Mellon as trustee
under the 2009 Indenture, Credit Suisse AG as representative under the Credit Agreement and
each grantor that are parties thereto, as subsequently amended by Amendment No. 1 and Joinder
Agreement dated 21 January 2010, which added the Collateral Agent as a collateral agent under
the First Lien Intercreditor Agreement (the “First Lien Intercreditor Agreement”).

	(C)	 	Pursuant to an amendment no. 6 and incremental term loan assumption agreement (the
“Amendment No. 6”) dated 9 August 2011, and entered into between, among others, Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International
Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation,
Closure Systems International B.V., the other borrowers party thereto, the lenders from time
to time party thereto and Credit Suisse AG as administrative agent, the Credit Agreement has
been amended and restated in the form of Annex A thereto (the “Second Amended and Restated
Credit Agreement”).

	(D)	 	Pursuant to an indenture (the “August 2011 Secured Notes Indenture”) dated 9 August
2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US Escrow II LLC
(collectively, the “August 2011 Escrow 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, certain secured notes (the “August 2011
Secured Notes”) were issued by the August 2011 Escrow Issuers. On or about the date hereof,
the August 2011 Secured Notes shall be released from escrow, RGHL US Escrow II Inc. and RGHL
US Escrow II LLC shall be 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 shall be
assumed by the August 2011 Ultimate Issuers pursuant to one or more supplemental indentures
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.

	(E)	 	The obligations in respect of the August 2011 Secured Notes Indenture and any Senior
Secured Note Documents (as defined therein) will or have been designated as “Additional
Obligations” under, and in accordance with, section 5.02(c) of the First Lien Intercreditor
Agreement.

	(F)	 	As a consequence of the execution of the Amendment No. 6, the Second Amended and
Restated Credit Agreement and the issuance of the August 2011 Secured Notes, the Parties
agreed to amend the Floating Charge Agreement and enter into this Agreement.

IT IS AGREED as follows:

- 2 -

 

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“ Floating Charge Agreement” means the floating charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010, 1 February
2011 and 9 February 2011 between the Chargor and the Chargee.

	1.2	 	Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Floating Charge Agreement has the same meaning in
this Agreement and in any notice given under this Agreement.
	 
	 	(b)	 	The principles of construction set out in the Floating Charge Agreement shall
have effect as if set out in this Agreement.

	1.3	 	Clauses

	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.

	2.	 	AMENDMENTS TO THE FLOATING CHARGE AGREEMENT

	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Floating Charge Agreement in alphabetical order:
	 
	 	 	 	““ August 2011 Issuers” means the “Issuers” under, and as defined in, the August
2011 Secured Notes Indenture, including their successors in interest.”
	 
	 	 	 	“ August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL US Escrow II
LLC, including their successors in interest.”
	 
	 	 	 	“ August 2011 Secured Notes Indenture” means the indenture dated 9 August 2011,
among the August 2011 Escrow Issuers and 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,
as amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified from time to time, and to which Reynolds Group
Issuer Inc., Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxembourg)
S.A. have or will become a party as issuers by way of RGHL US Escrow II Inc.
and RGHL US Escrow II LLC merging with and into Reynolds Group Issuer Inc. and
Reynolds Group Issuer LLC, respectively, and one or more supplemental
indentures being entered into between, among others, the August 2011 Escrow
Issuers, Reynolds Group Issuer Inc., Reynolds Group Issuer LLC, Reynolds Group
Issuer (Luxembourg) S.A., The Bank of New York Mellon, as trustee, principal
paying agent, transfer agent, registrar and

- 3 -

 

	 	 	 	collateral agent and Wilmington
Trust (London) Limited, as additional collateral agent, attached as Part VIII of
Schedule 3 (August 2011 Secured Notes Indenture) to this Agreement.”
	 
	 	 	 	“ August 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 6 and incremental term loan assumption agreement dated 9 August 2011
entered into between, among others, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc.,
SIG Euro Holding AG & Co. KGAA, SIG Austria Holding GmbH, Closure Systems
International B.V. and Pactiv Corporation as borrowers, Reynolds Group
Holdings Limited, the Guarantors from time to time party thereto (as defined
therein), the Lenders from time to time party thereto, the other Lenders
party thereto and the Administrative Agent (as defined therein), as amended,
novated, supplemented, restated or modified from time to time, the text of
which is attached as Part IX of Schedule 3 (August 2011 Incremental Assumption
and Amendment Agreement) to this Agreement.”
	 
	 	(b)	 	Clause 2.1 (i) of the Floating Charge Agreement shall be replaced in its
entirety with the following wording:

	 	 	 	“(i) USD 9,570,000,000 (that is nine billion five
hundred and seventy million U.S. $) and EUR 780,000,000 (that is seven
hundred and eighty million euro) (the “Secured Principal”); plus”

	 	(c)	 	Schedule 3 of the Floating Charge Agreement shall be supplemented with Schedule
A (Part VIII of Schedule 3 (August 2011 Secured Notes Indenture)) of this Agreement.
	 
	 	(d)	 	Schedule 3 of the Floating Charge Agreement shall be supplemented with Schedule
B (Part IX of Schedule 3 (August 2011 Incremental Assumption and Amendment Agreement))
of this Agreement.

	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	Continuing obligations

	 	 	The provisions of the Floating Charge Agreement shall, save as amended by this
Agreement, continue in full force and effect.

	3.2	 	Registration of the amendments

	 	 	The Parties hereby request the notary to register the changes in the registered data of
the Floating Charge in the Registry of Charges (i.e. the change in the maximum aggregate
framework security amount of the Obligations).

	3.3	 	Further assurance

	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.

- 4 -

 

	4.	 	INCORPORATION OF TERMS

	 	 	The provisions of clause 7 (Remedies and waivers), clause 8 (Severability), clause 12
(Notices) and clause 14 (Jurisdiction) of the Floating Charge Agreement shall be
incorporated into this Agreement as if set out in full in this Agreement and as if
references in those clauses to “this Agreement” are references to this Agreement.

	5.	 	GOVERNING LAW

	 	 	This Agreement is governed by Hungarian law.

	6.	 	RIGHTS OF THE COLLATERAL AGENT

	 	 	Notwithstanding anything contained herein, the Parties agree that this Agreement shall
be deemed a “Security Document” for the purposes of and as defined in the First Lien
Intercreditor Agreement (and for no other purpose) and accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Floating Charge Agreement and the First Lien Intercreditor Agreement shall continue in full
force and effect and shall apply to this Agreement as if set out in full herein.

- 5 -

 

SCHEDULE A

“SCHEDULE 3

Part VIII

AUGUST 2011 SECURED NOTES INDENTURE”

(To Be Inserted)

- 6 -

 

SCHEDULE B

“SCHEDULE 3

Part IX

AUGUST 2011 INCREMENTAL ASSUMPTION AND AMENDMENT AGREEMENT”

(To Be Inserted)

- 7 -

 

SIGNATURES

	 	 	 	 	 
	 	Closure Systems International Holdings (Hungary) Kft. - as Chargor

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 
	 	Wilmington Trust (London) Limited - as Chargee

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 

- 8 -exv4w486

	 	 	 	 	 

Exhibit 4.486

AMENDMENT AGREEMENT NO. 5

Dated 8 September 2011

for

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (HUNGARY) KFT.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A
CHARGE AND SECURITY DEPOSIT OVER BANK

ACCOUNTS AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010, 16

NOVEMBER 2010, 1 FEBRUARY 2011 AND 9 FEBRUARY

2011

 

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 Loan
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 Loan 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 Loan 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 Loan
Document to an Austrian addressee.

 

 

THIS AMENDMENT AGREEMENT (the “Agreement”) is made on 8 September 2011

BETWEEN:

	(1)	 	Closure Systems International Holdings (Hungary)
Vagyonkezelő Korlátolt Felelősségű Társaság,
a limited liability company incorporated under the laws of Hungary, having its registered
office as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court acting as court of registration under registration
number Cg. 07-09-015084, as chargor under this Agreement (hereinafter referred to as the
“Chargor”);

	 	 	and

	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);

		 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party” means any of
them, as the context may require.

RECITALS:

	(A)	 	The Parties hereby declare that the Charge and Security Deposit over Bank Accounts
Agreement (as defined below) was originally concluded on 29 January 2010 between the Chargee
and the Chargor, pursuant to both (i) a credit agreement dated 5 November 2009 (as
subsequently amended, amended and restated, supplemented and/or as otherwise modified) between
among others Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure
Systems International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH,
Pactiv Corporation, Closure Systems International B.V., the other borrowers party thereto, the
lenders from time to time parties thereto, and Credit Suisse AG as administrative agent (the
“Credit Agreement”) and (ii) an indenture dated 5 November 2009 between, among others,
Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and registrar, as modified, amended or
supplemented from time to time (the “2009 Indenture”), and the Charge and Security Deposit
over Bank Accounts Agreement was amended pursuant to, among others, (x) an indenture dated 15
October 2010 between, among others, RGHL US Escrow I Inc., RGHL US Escrow I LLC and RGHL
Escrow Issuer (Luxembourg) I S.A. and 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, as modified, amended or supplemented from time to
time (the “2010 Indenture”) and (y) an indenture dated 1 February 2011 between, among others,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., Reynolds Group Issuer (Luxembourg) S.A.
and 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

- 1 -

 

	 	 	agent, as
modified, amended or supplemented from time to time (the “February 2011 Indenture”).

	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Indenture certain parties have entered into a first lien intercreditor
agreement dated 5 November 2009 between, among others, The Bank of New York Mellon as trustee
under the 2009 Indenture, Credit Suisse AG as representative under the Credit Agreement and
each grantor that are parties thereto, as subsequently amended by Amendment No. 1 and Joinder
Agreement dated 21 January 2010, which added the Collateral Agent as a collateral agent under
the First Lien Intercreditor Agreement (the “First Lien Intercreditor Agreement”).

	(C)	 	Pursuant to an amendment no. 6 and incremental term loan assumption agreement (the
“Amendment No. 6”) dated 9 August 2011, and entered into between, among others Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International
Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation,
Closure Systems International B.V., the other borrowers party thereto, the lenders from time
to time party thereto and Credit Suisse AG as administrative agent, the Credit Agreement has
been amended and restated in the form of Annex A thereto (the “Second Amended and Restated
Credit Agreement”).

	(D)	 	Pursuant to an indenture (the “August 2011 Secured Notes Indenture”) dated 9 August
2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US Escrow II LLC
(collectively, the “August 2011 Escrow 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, certain secured notes (the “August 2011
Secured Notes”) were issued by the August 2011 Escrow Issuers. On or about the date hereof,
the August 2011 Secured Notes shall be released from escrow, RGHL US Escrow II Inc. and RGHL
US Escrow II LLC shall be 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 shall be
assumed by the August 2011 Ultimate Issuers pursuant to one or more supplemental indentures
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.

	(E)	 	The obligations in respect of the August 2011 Secured Notes Indenture and any Senior
Secured Note Documents (as defined therein) will or have been designated as “Additional
Obligations” under, and in accordance with, section 5.02(c) of the First Lien Intercreditor
Agreement.

	(F)	 	As a consequence of the execution of the Amendment No. 6, the Second Amended and
Restated Credit Agreement and the issuance of the August 2011 Secured Notes, the Parties
agreed to amend the Charge and Security Deposit over Bank Accounts Agreement and enter into
this Agreement.

IT IS AGREED as follows:

- 2 -

 

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“ Charge and Security Deposit over Bank Accounts Agreement” means the charge and security
deposit over bank accounts agreement concluded in the form of a notarial
deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010, 1 February 2011 and
9 February 2011 between the Chargor and the Chargee.

	1.2	 	Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Charge and Security Deposit over Bank Accounts
Agreement has the same meaning in this Agreement and in any notice given under this
Agreement.
	 
	 	(b)	 	The principles of construction set out in the Charge and Security Deposit over
Bank Accounts Agreement shall have effect as if set out in this Agreement.

	1.3	 	Clauses

	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.

	2.	 	AMENDMENTS TO THE CHARGE AND SECURITY DEPOSIT OVER BANK ACCOUNTS AGREEMENT

	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Charge and Security Deposit over Bank Accounts Agreement in alphabetical order:
	 
	 	 	 	““ August 2011 Issuers” means the “Issuers” under, and as defined in, the August
2011 Secured Notes Indenture, including their successors in interest.”
	 
	 	 	 	“ August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL US Escrow II
LLC, including their successors in interest.”
	 
	 	 	 	“ August 2011 Secured Notes Indenture” means the indenture dated 9 August 2011,
among the August 2011 Escrow Issuers and 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,
as amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified from time to time, and to which Reynolds Group
Issuer Inc., Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxembourg)
S.A. have or will become a party as issuers by way of RGHL US Escrow II Inc.
and RGHL US Escrow II LLC merging with and into Reynolds Group Issuer Inc. and
Reynolds Group Issuer LLC, respectively, and one or more supplemental
indentures being entered into between, among others, the

- 3 -

 

	 	 	 	August 2011 Escrow
Issuers, Reynolds Group Issuer Inc., Reynolds Group Issuer LLC, Reynolds Group
Issuer (Luxembourg) S.A., 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, attached as Part VIII
of Schedule 3 (August 2011 Secured Notes Indenture) to this Agreement.”
	 
	 	 	 	“ August 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 6 and incremental term loan assumption agreement dated 9 August 2011
entered into between, among others, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc.,
SIG Euro Holding AG & Co. KGAA, SIG Austria Holding GmbH, Closure Systems
International B.V. and Pactiv
Corporation as borrowers, Reynolds Group Holdings Limited, the Guarantors from time
to time party thereto (as defined therein), the Lenders from time to time party
thereto, the other Lenders party thereto and the Administrative Agent (as defined
therein), as amended, novated, supplemented, restated or modified from time to
time, the text of which is attached as Part IX of Schedule 3 (August 2011
Incremental Assumption and Amendment Agreement) to this Agreement.”
	 
	 	(b)	 	Clause 2.1 (i) of the Charge and Security Deposit over Bank Accounts Agreement
shall be replaced in its entirety with the following wording:

	 	 	 	“(i) USD 9,570,000,000 (that is nine billion and five
hundred seventy million U.S. $) and EUR 780,000,000 (that is seven
hundred and eighty million euro) (the “Secured Principal”); plus”

	 	(c)	 	Schedule 3 of the Charge and Security Deposit over Bank Accounts Agreement
shall be supplemented with Schedule A (Part VIII of Schedule 3 (August 2011 Secured
Notes Indenture)) of this Agreement.
	 
	 	(d)	 	Schedule 3 of the Charge and Security Deposit over Bank Accounts Agreement
shall be supplemented with Schedule B (Part IX of Schedule 3 (August 2011 Incremental
Assumption and Amendment Agreement)) of this Agreement.

	3.	 	CONTINUITY AND FURTHER ASSURANCE

	3.1	 	Continuing obligations

	 	 	The provisions of the Charge and Security Deposit over Bank Accounts Agreement shall,
save as amended by this Agreement, continue in full force and effect.

	3.2	 	Further assurance

	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.

- 4 -

 

	4.	 	INCORPORATION OF TERMS

	 	 	The provisions of clause 10 (Remedies and waivers), clause 11 (Severability), clause 15
(Notices) and clause 17 (Jurisdiction) of the Charge and Security Deposit over Bank Accounts
Agreement shall be incorporated into this Agreement as if set out in full in this Agreement
and as if references in those clauses to “this Agreement” are references to this Agreement.

	5.	 	GOVERNING LAW

	 	 	This Agreement is governed by Hungarian law.

	6.	 	RIGHTS OF THE COLLATERAL AGENT

	 	 	Notwithstanding anything contained herein, the Parties agree that this Agreement shall
be deemed a “Security Document” for the purposes of and as defined in the First Lien
Intercreditor Agreement (and for no other purpose) and accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Charge and Security Deposit over Bank Accounts Agreement and the First Lien Intercreditor
Agreement shall continue in full force and effect and shall apply to this Agreement as if
set out in full herein.

- 5 -

 

SCHEDULE A

“SCHEDULE 3

Part VIII

AUGUST 2011 SECURED NOTES INDENTURE”

(To Be Inserted)

- 6 -

 

SCHEDULE B

“SCHEDULE 3

Part IX

AUGUST 2011 INCREMENTAL ASSUMPTION AND AMENDMENT AGREEMENT”

(To Be Inserted)

- 7 -

 

SIGNATURES

	 	 	 	 	 
	 	Closure Systems International Holdings (Hungary) Kft. - as Chargor

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 
	 	Wilmington Trust (London) Limited - as Chargee

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

- 8 -

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