Document:

Exhibit 10.1

 

PURCHASE
AGREEMENT

 

THIS
PURCHASE AGREEMENT (this “Agreement”) is made
as of June 14, 2007 by and among Pliant Corporation, a Delaware corporation
(the “Company”),
the purchasers set forth on Schedule I hereto (each a “Purchaser” and
collectively, the “Purchasers”)
and the Guarantors (as defined below) set forth on Schedule II hereto.

 

RECITALS

 

WHEREAS,
the Company has authorized the issuance and sale of up to $24,000,000 in
aggregate principal amount of its 18% Senior Subordinated Notes due 2012 (the “Notes”) for the
purpose of refinancing its existing 13% Senior Subordinated Notes due 2010 (the
“Existing Subordinated Notes”) issued
pursuant to an Indenture, dated as of July 18, 2006 (the “Existing Subordinated Notes Indenture”)
among the Company, the Guarantor and the Trustee (as defined below);

 

WHEREAS,
the Company proposes, subject to the terms and conditions stated herein, to
issue and sell on the Closing Date (as defined below) $24,000,000 in aggregate
principal amount of the Notes to the Purchasers in the respective amounts set
forth opposite each Purchaser’s name on Schedule I hereto;

 

WHEREAS,
the Notes will be issued pursuant to an indenture substantially in the form
agreed to between the parties (the “Indenture”) to be dated as of the Closing
Date (as defined herein) by and between the Company and The Bank of New York
Trust Company, N. A., a national banking association, as Trustee (the “Trustee”);

 

WHEREAS,
this Agreement and the Indenture, collectively, are referred to herein as the “Transaction Documents;”

 

WHEREAS,
the Company’s obligations under the Notes will be guaranteed (the “Subsidiary Guarantees”)
by each of the Company’s subsidiaries listed on Schedule II hereto
(each, a “Guarantor”
and, collectively, the “Guarantors”);

 

WHEREAS,
the Notes and the Subsidiary Guarantees, collectively, are referred to herein
as the “Securities;” and

 

WHEREAS,
the offer and sale of the Securities will not be registered under the
Securities Act of 1933, as amended (together with the rules and regulations
promulgated thereunder, the “Securities Act”), in reliance on an exemption therefrom.

 

 

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing premises,
the mutual promises and covenants set forth herein and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

 

1.             Agreement
to Sell and Purchase.   On the basis of the representations
and warranties contained in this Agreement, and subject to the terms and
conditions of this Agreement, the Company agrees to issue and sell to each
Purchaser the respective principal amount of Notes set forth opposite such
Purchaser’s name on Schedule I hereto, and each Purchaser, upon the
basis of the representations and warranties herein contained, but subject to
the conditions hereinafter stated, severally and not jointly agrees to purchase
from the Company such respective principal amount of the Notes at a purchase
price of one hundred percent (100%) of the principal amount of the Notes to be
purchased by such Purchaser hereunder (the “Purchase Price”).

 

2.             Closing.   Payment
for the Notes shall be made severally by the Purchasers to an account specified
in writing by the Company to the Purchasers on or prior to the date hereof in
United States dollars in cash or other funds immediately available in New York
City against delivery to each Purchaser of the Notes purchased by such
Purchaser at 10:00 a.m., New York City time, on June 14, 2007 (the date
hereof), or at such other time on the same or such other date as shall be
mutually agreed upon by the Company and the Purchasers purchasing more than
fifty percent (50%) of the aggregate principal amount of the Notes to be
purchased hereunder. The time and date of such payment and delivery are
hereinafter referred to as the “Closing Date.”

 

3.             Representations
and Warranties.   The Company and each Guarantor, jointly
and severally, represents and warrants to the Purchasers as of the date hereof
and as of the Closing Date, as follows:

 

(a)           Exchange Act Documents.   The
documents filed by the Company with the Securities and Exchange Commission (the
“SEC”)
pursuant to the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC thereunder (collectively, the “Exchange Act”) since
May 15, 2006 (as amended or supplemented from time to time prior to the date
hereof, including the exhibits thereto, the “Exchange Act Documents”), when taken
together, do not contain an untrue statement of a material fact or omit to state
a material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

 

(b)           Financial Statements.   The
financial statements included in the Exchange Act Documents present fairly, in
all material respects, the consolidated financial position of the Company and
its consolidated subsidiaries as of the dates indicated and the results of
their operations and the changes in their consolidated cash flows for the
periods specified therein and all such financial statements have been prepared
in conformity with generally accepted accounting principles and practices (“GAAP”) applied on a
consistent basis, except as 

 

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indicated in the notes thereto or, in the case of unaudited statements,
as permitted by Rule 10-01 of Regulation S-X promulgated by the SEC.

 

(c)           Absence of Material Adverse Effect.   Since the Company’s Annual Report on
Form 10-K filed with the SEC on March 30, 2007 (the “Latest  10-K”), there has not been any Material
Adverse Change affecting the Company and its consolidated subsidiaries
considered as a single enterprise that has not been publicly disclosed by the
Company. As used in this Agreement, “Material Adverse Change” or “Material Adverse Effect”
means any change or effect that would be materially adverse to the business,
properties, financial condition or results of operations of the Company and its
consolidated subsidiaries considered as a single enterprise, or to the ability
or authority of the Company or any Guarantor to consummate the transactions
contemplated hereby; provided, that any reduction in the market price or
trading volume of any security of the Company or in the Company’s general
credit rating or the rating of any of the Company’s outstanding indebtedness
shall not, in any event, be deemed to constitute a Material Adverse Change or a
Material Adverse Effect (it being understood that the foregoing shall not
prevent a person from asserting that any underlying cause of such reduction
independently constitutes such a Material Adverse Change or Material Adverse
Effect).

 

(d)           Absence of Certain Changes.   Except
as may be disclosed in the Exchange Act Documents, since the Latest 10-K,
neither the Company nor any Guarantor has entered into any transaction or
agreement that has or would be reasonably likely to have a Material Adverse
Effect on the Company and its subsidiaries, taken as a whole. Since the Latest
10-K, there has not been any material change in the long-term debt of the
Company or any Guarantor. Except as disclosed on the face of the balance sheet
included in the Company’s Annual Report on Form 10-Q filed with the SEC on
May 15, 2007 (the “Latest 10-Q”), the company and its Subsidiaries have no
liabilities, absolute or contingent, other than those that have been incurred
since March 31, 2007 in the ordinary course of business that are not,
individually or in the aggregate, material to the Company and its Subsidiaries,
taken as a whole. Since the emergence of the Company from bankruptcy protection
on July 18, 2006, the Company has not taken any steps to seek protection
pursuant to any bankruptcy law nor does the Company have knowledge that its
creditors intend to initiate involuntary bankruptcy proceedings or knowledge of
any fact which would reasonably lead a creditor to do so. The Company is not as
of the date hereof, and after giving effect to the transactions contemplated
hereby will not be, Insolvent (as defined below). For purposes of this Section
3(d), “Insolvent” means (i) the present fair saleable value of the Company’s
assets is less than the amount required to pay the Company’s known liabilities
and identified contingent liabilities, (ii) the Company is unable to pay its
debts and liabilities, subordinated, contingent or otherwise, as such debts and
liabilities become absolute and matured or (iii) the Company has unreasonably
small capital with which to conduct the business in which it is engaged as such
business is now conducted.

 

(e)           Organization and Qualification.   The
Company has been duly incorporated and is validly existing as a corporation in
good standing under the laws of the State of Delaware, with corporate power and
authority to own or lease its properties and conduct its business as described
in the Exchange Act Documents, and has been duly qualified as a foreign 

 

3

 

corporation for the transaction of business and is in good standing
under the laws of each other jurisdiction in which it owns or leases
properties, or conducts its business in a manner or to an extent that would
require such qualification, other than such failures to be so qualified or in
good standing as, individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect.

 

(f)            Subsidiaries.   Each “significant
subsidiary”(as such term is defined in Rule 1-02 of Regulation S-X) of the
Company, including each Guarantor, has been duly incorporated or formed and is
validly existing as a corporation, limited liability company or unlimited
company, as applicable, in good standing under the laws of its jurisdiction of
incorporation or formation with requisite power and authority to own or lease,
as the case may be, and to operate its properties and conduct its business as
currently operated and conducted, and is duly qualified to do business as a
foreign corporation and is in good standing under the laws of each jurisdiction
which requires such qualification, except where the failure so to qualify or to
be in good standing would not, individually or in the aggregate, result in a
Material Adverse Effect; all the issued and outstanding shares of capital stock
of each such subsidiary have been duly authorized and validly issued, are fully
paid and non-assessable and are owned, directly or indirectly, by the Company.

 

(g)           Capitalization.   Except as
may be disclosed in the Exchange Act Documents, since the Latest 10-Q, (i)
there has not been any (A) material change in the capital stock of the Company
or any Guarantor or (B) issuance of any options or warrants for the purchase of
capital stock of the Company or any Guarantor, securities convertible into or
exercisable or exchangeable for capital stock of the Company or any Guarantor
or rights to purchase capital stock of the Company or any Guarantor, except for
changes or issuances occurring in the ordinary course of business and changes
in outstanding capital stock resulting from transactions relating to employee
benefit plans or stock option, stock award and stock purchase plans and (ii)
the Company has not declared or paid any dividends or made any distribution of
any kind with respect to its capital stock. The shares of capital stock of the
Company outstanding on the date hereof have been duly authorized and are validly
issued, fully paid and non-assessable.

 

(h)           Power and Authority. The Company and each Guarantor has
requisite power and authority to enter into the Transaction Documents and to
perform and discharge its respective obligations thereunder, including without
limitation issuance of the Securities and performance and discharge of its
respective obligations thereunder.

 

(i)            Authorization and Enforceability of this Agreement.   This Agreement has been duly authorized, executed and delivered
by or on behalf of the Company and each Guarantor and, assuming due
authorization, execution and delivery thereof by each Purchaser, this Agreement
constitutes the legal, valid and binding obligation of the Company and each
Guarantor, enforceable against the Company and each Guarantor in accordance
with its terms, subject to applicable bankruptcy, insolvency, fraudulent
conveyance or transfer, reorganization, moratorium and similar laws affecting
creditors’ rights and remedies generally, 

 

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and to general principles of equity, including principles of
materiality, commercial reasonableness, good faith and fair dealing (regardless
of whether enforcement is sought in a proceeding at law or in equity) and
except that rights to indemnification and contribution hereunder may be limited
by federal or state securities laws or public policy relating thereto.

 

(j)            Authorization  and
Enforceability of Indenture as to Company.   The Indenture has been duly authorized by the
Company and, when executed and delivered by the Company and each Guarantor,
assuming due authorization, execution and delivery thereof by the Trustee, the
Indenture will constitute the legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms, subject
to applicable bankruptcy, insolvency, fraudulent conveyance or transfer,
reorganization, moratorium and similar laws affecting creditors’ rights and
remedies generally,and to general principles of equity, including principles of
materiality, commercial reasonableness, good faith and fair dealing (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

(k)           Authorization  and
Enforceability of Notes as to
Company.   The Notes have been
duly authorized by the Company, and when duly executed, and delivered by the
Company as provided in the Indenture, assuming due authentication of the Notes
by the Trustee, against payment by the Purchasers therefor as provided herein,
the Notes will constitute legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms, subject to
applicable bankruptcy, insolvency, fraudulent conveyance or transfer,
reorganization, moratorium and similar laws affecting creditors’ rights and
remedies generally, and to general principles of equity, including principles
of materiality, commercial reasonableness, good faith and fair dealing
(regardless of whether enforcement is sought in a proceeding at law or in
equity).

 

(l)            Authorization  and
Enforceability of Indenture and
Subsidiary Guarantees as to Guarantors.  
The Indenture,
including the Subsidiary Guarantee of each Guarantor set forth therein, has
been duly authorized by such Guarantor, and when (i) the Indenture is duly
executed and delivered by the Company and such Guarantor, assuming due
authorization, execution and delivery thereof by the Trustee, and (ii) the
Notes are duly executed and delivered by the Company, assuming due
authentication of the Notes by the Trustee, against payment by the Purchasers
therefor as provided herein, the Indenture, including such Subsidiary
Guarantee, will constitute the legal, valid and binding obligation of such
Guarantor, enforceable against such Guarantor in accordance with its terms,
subject to applicable bankruptcy, insolvency, fraudulent conveyance or
transfer, reorganization, moratorium and similar laws affecting creditors’
rights and remedies generally, and to general principles of equity, including
principles of materiality, commercial reasonableness, good faith and fair
dealing (regardless of whether enforcement is sought in a proceeding at law or
in equity).

 

(m)          No Conflicts.  
The issuance and sale of the Securities by the Company and
the Guarantors, the execution and delivery by the Company and the Guarantors of
the Transaction Documents and the performance by the Company and the Guarantors
of all their respective obligations and the consummation of the transactions
herein and therein contemplated,

 

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will not (i) result in a breach of any of the terms or provisions of,
constitute a default (with or without the giving of notice or the passage of
time or otherwise) under, or result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Company or any
Guarantor under, any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any Guarantor is a party
or by which the Company or any Guarantor is bound or to which any of the
property or assets of the Company or any Guarantor is subject except, in each
case, for such conflicts, breaches, defaults, liens, charges or encumbrances
which would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect, (ii) result in any violation of the provisions
of the certificate of incorporation or bylaws of the Company or any Guarantor
that is a corporation or the certificate of formation or limited liability
agreement of any Guarantor that is a limited liability company, or (iii) result
in any violation of any material applicable law or statute or any order, rule
or regulation of any court or governmental agency or of any self-regulatory
agency or body having jurisdiction over the Company or any Guarantor or any of
their respective properties; and no consent, approval, authorization, order,
license, registration or qualification of or with any such court or
governmental agency or of any self-regulatory agency or body is required for
the issuance and sale of the Securities or the consummation by the Company or
any Guarantor of the transactions contemplated by any of the Transaction
Documents, except such consents, approvals, authorizations, orders, licenses,
registrations or qualifications as may be required under state securities or
Blue Sky Laws in connection with the purchase of the Securities by the
Purchasers.

 

(n)           Absence of Litigation.   Except as disclosed in the
Exchange Act Documents, there are no legal or governmental investigations,
actions, suits or proceedings pending or, to the Company’s knowledge,
threatened against or affecting the Company or any Guarantor or any of their
respective properties or to which the Company or any Guarantor is or may be a
party or to which any property of the Company or any Guarantor is or may be
subject that, if determined adversely to the Company or any such Guarantor,
would, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

 

(o)           No Integrated Offering.   Neither the Company, nor any
affiliate (as defined in Rule 501(b) of Regulation D under the Securities Act)
of the Company or any person acting on its or their behalf, has directly, or
through any agent, sold, offered for sale, solicited offers to buy, or
otherwise approached or negotiated with, any person in respect of, any security
(as defined in the Securities Act) that is or will be integrated with the sale
of the Securities in a manner that would require the registration under the
Securities Act of the issuance of any of the Securities contemplated hereby.

 

(p)           No General Solicitation.   None of the Company, any affiliate
of the Company or any person acting on its or their behalf has offered or sold
any of the Securities by means of any general solicitation or general
advertising within the meaning of Rule 502(c) under the Securities Act,
including (i) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar medium or broadcast over
television or radio, 

 

6

 

or (ii) any seminar or meeting whose attendees have been invited by any
general solicitation or general advertising in the United States.

 

(q)           Securities Act and Trust Indenture Act.   Assuming the accuracy of the
representations and warranties of the Purchasers contained in Section 4 hereof
and the Purchasers’ compliance with the agreements set forth therein, it is not
necessary in connection with the offer, issuance, sale and delivery of the
Securities in the manner contemplated by the Transaction Documents to register
the offer or sale of any of the Securities under the Securities Act or to
qualify the Indenture under the Trust Indenture Act of 1939, as amended.

 

(r)            Placement Agent.   Except for its engagement letter
with Goldman, Sachs & Co. dated December 18, 2006, neither the Company
nor its subsidiaries is a party to any contract, agreement or understanding
with any person that would reasonably be expected to give rise to a valid claim
against the Company or the Purchasers for a brokerage commission, finder’s fee
or like payment in connection with the offering and sale of the Securities.

 

(s)           Tax Status.   Except as may be described in the Exchange
Act Documents, the Company and each of the Guarantors (i) has filed all
material federal, state, local and foreign tax returns, reports and
declarations required by any jurisdiction to which it is subject and (ii) has
paid all taxes that are material in amount shown or determined to be due in the
returns, reports and declarations filed by them and all assessments received by
them or any of them to the extent that such taxes have become due and are not
being contested in good faith and for which adequate reserves have been
provided; and there is no tax deficiency in any material amount which has been
or, to the Company’s knowledge, might reasonably be expected to be asserted or
threatened against the Company or any Guarantor and the Company is not aware of
any reasonable basis for any such claim.

 

(t)            Labor Relations.   Except as disclosed in the
Exchange Act Documents, no labor disputes exist with employees of the Company
or any of the Guarantors except for such disputes as would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect and
the Company is not aware that any key employee or significant group of
employees of the Company or any of the Guarantors plans to terminate employment
with the Company or any of the Guarantors.

 

(u)           Environmental Laws.   Except as disclosed in the
Exchange Act Documents, to the Company’s knowledge, each of the Company and the
Guarantors is in compliance with any and all applicable foreign, federal, state
and local laws and regulations relating to the protection of human health or the
environment or imposing liability or standards of conduct concerning any
Hazardous Material (collectively, “Environmental Laws”), except where such
non-compliance with Environmental Laws would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. The term “Hazardous Material”
means (1) any “hazardous
substance” as defined by the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended, (2) any “hazardous waste” as
defined by the Resource Conservation and Recovery Act, as amended, (3) any
petroleum or petroleum product, (4) any polychlorinated biphenyl, and (5) any
pollutant or 

 

7

 

contaminant or hazardous, dangerous, or toxic chemical, material, waste
or substance regulated under or within the meaning of any other Environmental
Law.

 

(v)           Intellectual Property.   (i) The Company or its
subsidiaries own or possess the right to use the patents, patent licenses,
trademarks, service marks, trade names, copyrights and know-how (including
trade secrets and other unpatented and/or unpatentable proprietary or
confidential information, systems or procedures) (collectively, the “Intellectual Property”)
reasonably necessary to carry on the business conducted by the Company and its
subsidiaries, taken as a whole, as described in the Exchange Act Documents,
except to the extent that the failure to own or possess the right to use such
Intellectual Property would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect, (ii) all of such patents,
registered trademarks and registered copyrights owned by the Company or its
subsidiaries have been duly registered in, filed in or issued by the United
States Patent and Trademark Office, the United States Registrar of Copyrights
or the corresponding offices of other jurisdictions, except where the failure
to do so would not reasonably be expected to have a Material Adverse Effect,
(iii) all material licenses or other material agreements under which (1) the
Company or any of its subsidiaries is granted rights in Intellectual Property,
other than Intellectual Property generally available on commercial terms from
other sources, and (2) the Company or any of its subsidiaries has granted
rights to others in Intellectual Property owned or licensed by the Company, are
in full force and effect and there is no default by the Company or its
subsidiaries or, to the Company’s knowledge, the other parties thereto, except
for such failures to be in full force and effect and such defaults as would
not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect, (iv) neither the Company nor any Guarantor has
received any notice of infringement of or conflict with asserted rights of
others with respect to any Intellectual Property, except for notices the
content of which if accurate would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect and (v) the Company
and its subsidiaries do not have and, to the Company’s knowledge, none of its
and their employees have any agreements or arrangements with any persons other
than the Company or its subsidiaries related to confidential information or
trade secrets of such persons other than such agreements that would not
restrict the Company and its subsidiaries from conducting their business as
described in the Exchange Act Documents to an extent that would reasonably be
expected to result in a Material Adverse Effect.

 

(w)          Permits.   The
Company and each of its subsidiaries, taken together, have (i) made all
filings, applications and submissions required by, and possesses all approvals,
licenses, certificates, clearances, consents, exemptions, orders, permits and
other authorizations required to be issued by, the appropriate federal, state
or foreign regulatory authorities (collectively, “Permits”) in order for the Company and
its subsidiaries to conduct their business, except for such Permits for which
the failure to obtain would not reasonably be expected to have a Material
Adverse Effect, and are in compliance in all material respects with the terms
and conditions of all such Permits; all such Permits held by the Company and
its subsidiaries are valid and in full force and effect; there is no pending
or, to the Company’s knowledge, threatened action, suit, claim or proceeding
that may cause any such Permit to be limited, revoked, cancelled, suspended,
modified or not renewed and neither the Company nor its 

 

8

 

subsidiaries has received any notice of proceedings relating to the
limitation, revocation, cancellation, suspension, modification or non-renewal
of any such Permit that, singly or in the aggregate, if the subject of an
unfavorable decision, ruling or finding would reasonably be expected to have a
Material Adverse Effect and (ii) such licenses, franchises, permits,
authorizations, approvals and orders of and from governmental and regulatory
officials and bodies as are, to the Company’s knowledge, reasonably necessary
to own or lease and operate the properties and conduct the business of the
Company and its subsidiaries, taken as a whole, on the date hereof.

 

(x)            Title.   (i) The Company and each of its
subsidiaries have good and marketable title in fee simple to all real property
and good and marketable title to all personal property owned by it that is
material to the business of the Company and its subsidiaries, in each case free
and clear of all liens, encumbrances and defects, except such as do not
materially affect the value of such property, do not materially interfere with
the use made and proposed to be made of such property by the Company and its
subsidiaries or would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect; and (ii) any real property and buildings
held under lease by the Company or any of its subsidiaries are held by it under
valid, subsisting and enforceable leases with such exceptions as do not
interfere with the use made and proposed to be made of such property and
buildings by the Company or such subsidiary or as would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(y)           ERISA.   (i)
The Company is in compliance with all presently applicable provisions of the
Employee Retirement Income Security Act of 1974, as amended, including the
regulations and published interpretations thereunder (“ERISA”), except where
the failure to be in such compliance would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect; (ii) no “reportable
event” (as defined in Section 4043 of ERISA) has occurred with respect to any “pension
plan” (as defined in Section 3(2) of ERISA) for which the Company is required
to provide notice under Section 4043 of ERISA and would have any liability,
except where such liability would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect; (iii) except for
matters that would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, (a) with respect to any “pension
plan” (other than a “multiemployer plan” (as defined in Section 4001(a)(3) of
ERISA)), the Company has not incurred and does not reasonably expect to incur
liability under Title IV of ERISA with respect to termination of, or withdrawal
from, such “pension plan,” or under Section 412 or 4971 of the Internal Revenue
Code of 1986, as amended, including the regulations and published interpretations
thereunder (the “Code”),
and (b) with respect to any “pension plan” that is a “multiemployer plan,” the
Company has not received notice that the Company has incurred liability under
Title IV of ERISA with respect to termination of, or withdrawal from, such “pension
plan,” or under Section 412 or 4971 of the Code; (iv) except where the failure
to be in such compliance would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect, each “pension plan”
(other than a “multiemployer plan”) that is intended to be qualified under
Section 401(a) of the Code and for which the Company would have any liability
is so qualified in all material respects and 

 

9

 

nothing has occurred, whether by action or by failure to act, which
would reasonably be expected cause the loss of such qualification; and (v)
except where the failure to be in such compliance would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect, no
non-exempt “prohibited transaction” (as defined in Section 406 of ERISA or
Section 4975 of the Code) or “accumulated funding deficiency” (as defined in
section 302 of ERISA) has occurred with respect to any “pension plan” (other
than a “multiemployer plan”) for which the Company would have any liability.

 

(z)            OSHA.   Other
than as disclosed in the Exchange Act Documents, to the Company’s knowledge,
the Company and each of its subsidiaries is in compliance with any and all applicable
Occupational Safety and Health Administration standards and requirements (the “OSHA Laws”), except
where such non-compliance with OSHA Laws would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

 

(aa)         Investment Company.   Neither the Company nor any of its
subsidiaries is, and, after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof, will not be, required
to register as an “investment company” or an entity controlled by an investment
company as such term is defined in the Investment Company Act of 1940, as
amended.

 

(bb)         Independent Accountants.   Ernst & Young, LLP, who have certified the consolidated
financial statements of the Company as of December 31, 2006, is an independent
registered public accounting firm within the meaning of the Securities Act.

 

(cc)         Internal Controls.   The Company and each of its subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurances that
(A) transactions are executed in accordance with management’s general or
specific authorization; (B) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally accepted
accounting principles and to maintain accountability for assets; (C) access to
assets is permitted only in accordance with management’s general or specific
authorization; and (D) the recorded accountability for assets is compared with
existing assets at reasonable intervals and appropriate action is taken with
respect to any differences, and the Company maintains a system of “disclosure
controls and procedures” (as such term is defined in Rule 13a-15(e) under the
Exchange Act).

 

(dd)         Sarbanes-Oxley Act.   The Company and its executive officers and directors, in their
capacities as such, are in compliance in all material respects with the
applicable provisions of the Sarbanes-Oxley Act of 2002, including Section 402
related to loans and Sections 302 and 906 related to certifications.

 

(ee)         Ranking of Securities. The Securities will be subordinate
in right of payment to the following existing indebtedness of the Company for
borrowed money:  (i) the Working Capital
Credit Agreement and Fixed Asset Credit Agreement, each dated as of July 18,
2006, among the Company and certain of its subsidiaries as borrowers, the
lenders thereunder, Merrill Lynch Bank USA, as Administrative Agent, and
Merrill Lynch Commercial Finance 

 

10

 

Corp., as Sole Lead Arranger and Book Manager, as each term is defined
therein, as may be amended, modified or supplemented, (ii) the 11.85% (formerly
11 5/8%) senior secured notes due 2009 and the remaining 11.35% (formerly 11
1/8%) senior secured notes due 2009, each issued under the Indenture, dated as
of February 17, 2004 (as amended and restated as of May 6, 2005 and further
amended as of July 18, 2006, the “2004 Notes Indenture”), among the Company,
the guarantors named therein, and Wilmington Trust Company, as indenture
trustee, as may be amended, modified or supplemented, and (iii) the 11 1/8%
senior secured notes due 2009 issued under the Indenture, dated as of May 30,
2003 (the “2003 Notes Indenture”), among the Company, the guarantors named
therein, and Wilmington Trust Company, as initial indenture trustee, and
succeeded by Wells Fargo Bank, National Association, as successor indenture
trustee, under which the 2003 Notes were issued, as may be amended, modified,
or supplemented. Except as set forth in the immediately preceding sentence,
there is no other existing indebtedness of the Company for borrowed money which
ranks senior to the Notes in right of payment.

 

(ff)           Rule 144A.   The
Notes are eligible for resale pursuant to Rule 144A under the Securities Act
and will not be, on the Closing Date, of the same class as any securities
listed on a national securities exchange registered under Section 6 of the 1934
Act or quoted in a U.S. automated interdealer quotation system.

 

Each Purchaser acknowledges and agrees that
the Company and the Guarantors have not made and do not make any
representations or warranties with respect to the transactions contemplated
hereby other than those specifically set forth in this Section 3.

 

4.             Representations
and Warranties of the Purchasers. Each Purchaser severally represents and
warrants to the Company and the Guarantors only as to itself, as of the date
hereof and the Closing Date, as follows:

 

(a)           Accredited Investor Status.   Such Purchaser is knowledgeable,
sophisticated and experienced in business and financial matters and qualifies
as an “accredited investor” as defined in Rule 501(a) of Regulation D and as a “qualified
institutional buyer” under Regulation 144A. Such Purchaser is experienced in
evaluating investments in companies such as the Company.

 

(b)           Information.   Such
Purchaser has been afforded access to information about the Company and the
Guarantors and the financial condition, results of operations, business,
property and management of the Company and the Guarantors sufficient to enable
it to evaluate its investment in the Securities. Such Purchaser has reviewed
the Latest 10-Q, the Latest 10-K, including without limitation the risk factors
set forth therein, and such other Exchange Act Documents as such Purchaser has
deemed advisable. Such Purchaser has been afforded the opportunity to execute a
confidentiality agreement to enable it to review financial projections and
other material nonpublic information regarding the Company prior to making its
investment decision with respect to the Securities and understands that the
Company intends to disclose such material nonpublic information in accordance
with Section 5(e) hereof. Such Purchaser and its advisors, if any, have been
afforded the opportunity to ask questions of the 

 

11

 

Company and the Guarantors. Such Purchaser has sought such accounting,
legal and tax advice as it has considered necessary to make an informed
investment decision with respect to its acquisition of the Securities.

 

(c)           Investment Risk.   Such Purchaser understands that
its investment in the Securities involves a high degree of risk. Such Purchaser
has been represented by legal counsel in connection with the negotiation of the
Transaction Documents and the Securities and understands the terms and
conditions thereof, including without limitation that the Securities will be
subordinated in right of payment to other indebtedness of the Company. Such
Purchaser is able to bear the economic risk of its investment in the Securities
for an indefinite period of time, and is presently able to afford the complete
loss of such investment.

 

(d)           No Public Sale or Distribution.   Such Purchaser is acquiring the
Securities in the ordinary course of business solely for its own account and
not as a nominee or agent for any other person and not with a view to any
distribution thereof that violates the Securities Act or the securities laws of
any State of the United States or any applicable jurisdiction; provided, however, that by making the
representations herein, such Purchaser does not agree to hold any of the
Securities for any minimum or other specific term and reserves the right to
dispose of the Securities at any time in accordance with or pursuant to a
registration statement or an exemption under the Securities Act. Such Purchaser
does not presently have any intention, or any agreement or understanding,
directly or indirectly, with any person, to distribute any of the Securities.

 

(e)           Organization, Power and Authority.   Such Purchaser was duly organized
or formed and is a validly existing organization in good standing under the
laws of its jurisdiction of organization, with requisite power and authority to
execute and deliver this Agreement and perform and discharge its obligations
hereunder.

 

(f)            Authorization and Enforceability of this Agreement.   This Agreement has been duly
authorized, executed and delivered by such Purchaser and, assuming due
authorization, execution and delivery thereof by the Company and the
Guarantors, this Agreement constitutes a legally valid and binding agreement of
such Purchaser, enforceable against the Purchaser in accordance with its terms,
subject to applicable bankruptcy, insolvency, fraudulent conveyance or
transfer, reorganization, moratorium and similar laws affecting creditors’
rights and remedies generally, and to general principles of equity, including
principles of materiality, commercial reasonableness, good faith and fair
dealing (regardless of whether enforcement is sought in a proceeding at law or
in equity).

 

(g)           Residency.   Such
Purchaser is a resident of that jurisdiction specified in its address set forth
on Schedule I hereto. Such Purchaser was not formed for the specific purpose of
acquiring the Securities.

 

(h)           Source of Funds.   Such Purchaser is not acquiring
the Securities with assets of any “employee benefit plan” (within the meaning
of Section 3(3) of ERISA) that is subject to Title I of ERISA or Section 4975
of the Code.

 

12

 

(i)            Independent Evaluation.   Such Purchaser has independently
evaluated the merits of its decision to purchase the Securities pursuant to
this Agreement, and the Purchaser confirms that it has not relied on the advice
of any other Purchaser’s business and/or legal counsel in making such decision.

 

(j)            Financing.   Such
Purchaser has, and will have at Closing, immediately available funds in U.S.
dollars (through cash or cash equivalents and existing committed credit
arrangements) sufficient to pay the Purchase Price for the Notes to be
purchased by such Purchaser and any other amounts payable pursuant to this
Agreement and to consummate the transactions contemplated by, and otherwise
satisfy the obligations of such Purchaser under, this Agreement.

 

(k)           Certain Exemptions.   Such
Purchaser understands that the Securities have not been registered under the
Securities Act or any state securities or Blue Sky laws, that the Securities
are being offered and sold to such Purchaser in reliance upon specific
exemptions from the registration requirements of the Securities Act and state
securities and Blue Sky laws and that the Company is relying upon the truth and
accuracy of, and such Purchaser’s compliance with, the representations,
warranties, agreements, acknowledgements and understandings of such Purchaser
set forth herein in order to determine the availability of such exemptions and
the eligibility of such Purchaser to acquire the Securities.

 

(l)            Legends.   Such
Purchaser understands that the certificates or other instruments representing
the Notes shall bear any legend as required by the “blue sky” laws of any state
and a restrictive legend in substantially the form set forth in Appendix A to
the Indenture and such Notes may only be transferred in accordance therewith.

 

(m)          No Brokers.   Such
Purchaser is not a party to any contract, agreement or understanding with any
person that would reasonably be expected to give rise to a valid claim against
the Company or the Purchasers for a brokerage commission, finder’s fee or like
payment in connection with the offering and sale of the Securities.

 

The Company and the Guarantors acknowledge
and agree that the Purchasers have not made, and do not make, any
representations or warranties with respect to the transactions contemplated
hereby other than those specifically set forth in this Section 4.

 

5.             Covenants
of the Company.   The Company
covenants and agrees with the Purchasers as follows:

 

(a)           Fees and Expenses.   Whether or not the transactions
contemplated in this Agreement are consummated or this Agreement is terminated,
the Company shall pay or cause to be paid all fees, costs and expenses incident
to the performance of its obligations hereunder, including without limiting the
generality of the foregoing, all fees, costs and expenses (i) incident to the
preparation, issuance, execution, authentication and delivery of the
Securities, including any expenses of the Trustee, or (ii) incurred in
connection with the qualification of the Securities for sale. In addition to
the foregoing (and without duplication), the Company agrees 

 

13

 

to pay each Purchaser their reasonable and documented out of pocket
expenses incurred in connection with the negotiation, due diligence and
documentation of the Transaction Documents and the transactions contemplated
thereby (“Transaction Expenses”); provided, that the maximum amount of Transaction Expenses
that the Company shall be obligated to pay to the Purchasers, collectively, shall
not exceed $75,000 in the aggregate.

 

(b)           General Solicitation.   None of the Company, any of its
affiliates (as defined in Rule 501(b) under the Securities Act) or any person
acting on behalf of the Company or such affiliate will solicit any offer to buy
or offer or sell the Securities by means of any form of general solicitation or
general advertising within the meaning of Regulation D, including:  (i) any advertisement, article, notice or
other communication published in any newspaper, magazine or similar medium or
broadcast over television or radio; and (ii) any seminar or meeting whose
attendees have been invited by any general solicitation or general advertising.

 

(c)           Integration.   None
of the Company, any of its affiliates (as defined in Rule 501(b) under the
Securities Act) or any person acting on behalf of the Company or such affiliate
will sell, offer for sale or solicit offers to buy, or otherwise approach or
negotiate with, any person in respect of any security (as defined in the
Securities Act) which will be integrated with the sale of the Securities in a
manner which would require the registration under the Securities Act of the
Securities and the Company will take all action that is appropriate or
necessary to assure that its offerings of other securities will not be
integrated for purposes of the Securities Act with the issuance of Securities
contemplated hereby.

 

(d)           Use of Proceeds to Redeem Existing Subordinated Notes.
  The Company shall use the
proceeds from the sale of the Securities solely for the repayment of the
Existing Subordinated Notes of the Company, including interest accrued thereon,
and payment of the fees and expenses incurred in connection with the issuance
of the Securities. On the Closing Date: (i)  the Company shall cause that
portion of such proceeds equal to the amount required to redeem the Existing
Subordinated Notes to be deposited with the Trustee in its capacity as paying
agent under the Existing Subordinated Note Indenture; and (ii) the Company
shall cause to be mailed by first class mail an irrevocable redemption notice
with respect to the Existing Subordinated Notes pursuant to Section 3.03 of the
Existing Subordinated Notes Indenture.

 

(e)           Disclosure of Transactions and Other Material
Information.   The Company
shall file a current report on Form 8-K (the “8-K Filing”) on or before 8:30 a.m., New
York City time, on the first business day following the Closing Date, in the
form required by the Exchange Act, relating to the transactions contemplated by
the Transaction Documents and attaching the material Transaction Documents, or
forms thereof, as exhibits to such filing. At the time of the 8-K Filing, the
Company shall not have provided any Purchaser with any material, nonpublic
information that is not disclosed in the 8-K Filing.

 

(f)            Material Non-Public Information.   Other than as set forth in the 8-K
Filing, the Company covenants and agrees that neither it nor any other person
or entity acting on its behalf has provided or will provide any Purchaser or
its agents or counsel with any 

 

14

 

information that constitutes material non-public information, unless
prior thereto such Purchaser shall have executed a written agreement regarding
the confidentiality and use of such information. The Company understands and
confirms that the Purchasers shall be relying on the foregoing covenants in
effecting transactions in securities of the Company.

 

(g)           Subsequent Transfer to Certain Permitted Assignees.   The
Company agrees that, in the event that Goldman, Sachs & Co. (“GS”) shall
determine to transfer, subsequent to the date hereof, all or a portion of the
Notes purchased by GS hereunder to a prospective investor that would constitute
a Permitted Assignee in accordance with Section 11(iii) hereof, the Company
shall make its senior management available at reasonable times and upon
reasonable notice to meet with such prospective investor and its
representatives; provided that (i) such prospective investor executes a
confidentiality agreement in the form agreed to between the Company and GS and
(ii) the number of such prospective investors with whom the Company’s senior
management is requested to meet does not exceed fifteen.

 

6.             Conditions
to the Purchasers’ Obligations.   The
obligation of each Purchaser hereunder to purchase the Notes on the Closing
Date is subject to the performance by the Company of its obligations hereunder
and to the following additional conditions:

 

(a)           the
representations and warranties of the Company and the Guarantors set forth in
Section 3 above are true and correct in all material respects (except for those
representations and warranties already qualified by materiality, which such
representations and warranties shall be true and correct in all respects) on
and as of the Closing Date as if made on and as of the Closing Date and the
Company shall have complied in all material respects with all agreements and
all conditions on its part to be performed or satisfied hereunder at or prior
to the Closing Date;

 

(b)           the
Purchasers shall have received on and as of the Closing Date a certificate of
an executive officer of the Company and each of the Guarantors, reasonably
satisfactory to the Purchasers, to the effect set forth in Section 6(a) above
and to the further effect that except as disclosed in the Exchange Act
Documents filed as of the date hereof, there has not occurred any Material
Adverse Change since the date of the Latest 10-K;

 

(c)           the
Company, the Guarantors and the Trustee shall have duly executed the Indenture
and the Company shall have duly executed, and the Trustee shall have duly
authenticated, the Notes;

 

(d)           the
Company shall have obtained all governmental, regulatory or third-party
consents and approvals, if any, necessary to be obtained prior to the Closing
Date for the sale of the Securities, including an amendment to the Working
Capital Credit Agreement and Fixed Asset Credit Agreement, each dated as of
July 18, 2006, among the Company and certain of its subsidiaries as borrowers,
the lenders thereunder, Merrill Lynch Bank USA, as Administrative Agent, and
Merrill Lynch Commercial Finance Corp., as Sole Lead Arranger and Book Manager,
as each term is defined therein;

 

15

 

(e)           the
Company shall have delivered to the Purchasers (i) a certificate evidencing the
incorporation and good standing of the Company in the State of Delaware issued
by the Secretary of State of the State of Delaware as of a date within ten (10)
business days of the Closing Date and (ii) a certificate evidencing the
incorporation or formation of each Guarantor in the jurisdiction of its
incorporation or formation issued by the applicable government agency as of a
date within ten (10) business days of the Closing Date;

 

(f)            the
Company shall have delivered to such Purchasers a certificate, executed by the
Secretary of the Company and each of the Guarantors dated as of the Closing
Date, as to (i) the resolutions consistent with Sections 3(i) – (l), as
applicable, as adopted by the Company’s Board of Directors and its Lead Pricing
Director and by the Board of Directors of each Guarantor in a form reasonably
acceptable to such Purchaser, (ii) the certificate or articles of incorporation
and bylaws of the Company, as in effect at the Closing, and (iii) the
certificate of incorporation and bylaws of each Guarantor that is a
corporation, the certificate of formation and limited liability agreement of
the Guarantor that is a limited liability company and the articles of
association of the Guarantor that is an unlimited company, as in effect at the
Closing;

 

(g)           each
of (i)  Sidley Austin, LLP, special
counsel to the Company and certain of the Guarantors, (ii) Van Cott, Bagley,
Cornwall & McCarthy, P.C., special Utah counsel to certain of the
Guarantors, and (iii) Stewart McKelvey, special Nova Scotia counsel to one of
the Guarantors, shall have furnished to the Purchasers their respective written
opinion, dated the Closing Date, in substantially the form agreed to between
the parties;

 

(h)           the
Company shall have delivered to the Trustee, in the Trustee’s capacity as
paying agent under the Existing Subordinated Notes Indenture, a duly executed
escrow agreement pursuant to which the funds required to redeem the Existing
Subordinated Notes will be held until disbursed on the redemption date; and

 

(i)            the
Trustee shall have issued an acknowledgement of satisfaction and discharge with
respect to the Existing Subordinated Notes pursuant to Section 8.01 of the
Existing Subordinated Notes Indenture.

 

7.             Conditions
to the Company’s Obligations.   The
obligations of the Company hereunder to issue and sell the Notes, and of each
Guarantor to issue its Subsidiary Guarantee, to each Purchaser on the Closing
Date are subject to the performance by the Purchasers of all of their
obligations hereunder and to the following additional conditions:

 

(a)           the
representations and warranties of each Purchaser set forth in Section 4 above
are true and correct in all material respects (except for those representations
and warranties already qualified by materiality, which such representations and
warranties shall be true and correct in all respects) on and as of the Closing
Date as if made on and as of the Closing Date and each Purchaser shall have
complied in all material respects with all agreements and all conditions on its
part to be performed or satisfied hereunder at or prior to the Closing Date;

 

16

 

(b)           the
Company shall have received on and as of the Closing Date a certificate of an
executive officer of each Purchaser, reasonably satisfactory to the Company, to
the effect set forth in Section 7(a) above;

 

(c)           the
Trustee shall have duly executed the Indenture and duly authenticated the
Notes; and

 

(d)           each
Purchaser shall have paid, in accordance with Section 2 and in consideration
for the issuance of the Securities, the aggregate principal amount set forth
opposite such Purchaser’s name on Schedule 1 hereto; provided
that the Company and the Guarantors shall have no obligation to issue any of
the Securities unless one hundred percent (100%) of the Securities to be issued
to all of the Purchasers are purchased on the Closing Date.

 

8.             Indemnity
and Contribution.   The Company and each of the Guarantors jointly
and severally agree to indemnify and hold harmless each Purchaser and each of
their respective directors, officers, employees, members, representatives,
attorneys and agents and each person, if any, who controls each Purchaser
within the meaning of either Section 15 of the Securities Act or Section 20 of
the Exchange Act (each, an “Indemnified
Person”), from and against any and all losses, claims, damages,
penalties, fees and liabilities (collectively, “Losses”), as incurred, including,
without limitation, the reasonable legal fees and other reasonable expenses of
one primary counsel (together with local counsel, where appropriate) in
connection with any suit, action or proceeding or any claim, as incurred, as a
result of, or arising out of or relating to any breach of any representation,
warranty, covenant, agreement or obligation made by it in this Agreement.

 

If any suit, action, proceeding (including
any governmental or regulatory investigation), claim or demand shall be brought
or asserted against any Indemnified Person, such Indemnified Person shall
promptly notify the person against whom such indemnity may be sought (the “Indemnifying Person”)
in writing, and the Indemnifying Person, upon request of the Indemnified
Person, shall retain one primary counsel (together with local counsel, where
appropriate) reasonably satisfactory to the Indemnified Person to represent the
Indemnified Person and any others the Indemnifying Person may designate in such
proceeding and shall pay the reasonable fees and expenses of such counsel
related to such proceeding; provided,
however, that failure to so
notify the Indemnifying Person shall not relieve such Indemnifying Person from
any liability hereunder except to the extent the Indemnifying Person is
prejudiced as a result thereof. In any such proceeding, any Indemnified Person
shall have the right to retain its own counsel, but the fees and expenses of
such counsel shall be at the expense of such Indemnified Person unless (i) the
Indemnifying Person and the Indemnified Person shall have mutually agreed to
the contrary, (ii) the Indemnifying Person has failed within a reasonable time
to retain counsel reasonably satisfactory to the Indemnified Person or (iii)
the named parties in any such proceeding (including any impleaded parties)
include both the Indemnifying Person and the Indemnified Person, the
Indemnifying Person proposes to have the same counsel represent it and the
Indemnified Person, and representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between
them. In no event shall the 

 

17

 

Indemnifying Person be liable for the fees and expenses of more than
one counsel separate from its own counsel (together with local counsel, where
appropriate) for all Indemnified Persons in connection with any one action or
separate but similar or related actions in the same jurisdiction arising out of
the same general allegations or circumstances, in which case such counsel need
only be reasonably satisfactory to Indemnified Persons holding more than fifty
percent (50%) of the aggregate principal amount of the Notes held by such
indemnified parties. It is understood that the Indemnifying Person shall
reimburse all such reasonable fees and expenses actually incurred by the
Indemnified Persons consistent with the foregoing limitations upon delivery to
the Indemnifying Person of reasonable documentation therefor setting forth such
expenses in reasonable detail unless a bona fide dispute exists with respect to
such expenses. The Indemnifying Person shall not be liable for any settlement
of any proceeding effected without its written consent, but if settled with
such consent or if there be a final, non-appealable judgment for the plaintiff,
the Indemnifying Person agrees to indemnify any Indemnified Person from and
against any Losses by reason of such settlement or judgment. No Indemnifying
Person shall, without the prior written consent of the Indemnified Person,
effect any settlement of any pending or threatened proceeding in respect of
which any Indemnified Person is a party, unless such settlement includes an
unconditional release of such Indemnified Person from all liability on claims
that are the subject matter of such proceeding and no admission of fault on the
part of the Indemnified Party.

 

Notwithstanding anything to the contrary set
forth herein, no Indemnified Person shall be entitled to be indemnified
pursuant to this Section 8 for any Loss to the extent such Loss is judicially
determined by final order to have resulted from the Indemnified Person’s gross
negligence or willful misconduct; provided, however, that the Indemnifying
Person shall pay the expenses incurred by any such Indemnified Person
hereunder, as such expenses are incurred, in connection with any proceeding in
advance of the final disposition, so long as the Indemnifying Person receives
an undertaking by such Indemnified Person to repay the full amount advanced if
there is a final determination that such Indemnified Person failed the
standards set forth above or that such Indemnified Person is not entitled to
indemnification as provided herein for other reasons; and provided, further,
that the termination of any action, suit or proceeding by judgment, order,
settlement, conviction, or a plea of nolo contendere or its equivalent, shall
not, of itself, create a presumption that such Indemnified Person was either
grossly negligent or engaged in willful misconduct.

 

The remedies
provided for in this Section 8 are not exclusive and shall not limit any
rights or remedies that may otherwise be available to any Indemnified Person at
law or in equity.

 

In
circumstances in which the indemnity agreement provided for in the preceding
paragraphs of this Section 8 is unavailable to, or insufficient to hold
harmless, an Indemnified Party in respect of any Losses, each Indemnifying
Party, in order to provide for just and equitable contribution, shall
contribute to the amount paid or payable by such Indemnified Party as a result
of such Losses, including reasonable legal or other expenses incurred, as
incurred, in such proportion as is appropriate to reflect (i) the relative
benefits received by the Indemnifying 

 

18

 

Party on the
one hand and the Indemnified Party on the other from the offering of the
Securities or (ii) if the allocation provided by the foregoing clause (i) is
not permitted by applicable law, not only such relative benefits but also the
relative fault of the Indemnifying Party on the one hand and the Indemnified
Party on the other in connection with the breach that resulted in such losses,
claims, damages or liabilities (or actions in respect thereof). The relative
fault of the parties shall be determined by reference to, among other things,
any equitable considerations appropriate in the circumstances. The Company and
the Purchasers agree that it would not be equitable if the amount of such
contribution were determined by pro rata or per capita allocation or by any
other method of allocation that does not take into account the equitable
considerations referred to in the first sentence of this paragraph. For
purposes of this paragraph, each person, if any, who controls any of the
Purchasers within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act shall have the same rights to contribution as such
Purchaser. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation.

 

The indemnity
agreements and contribution provisions contained in this Section 8 and the
representations and warranties of the Company, the Guarantors and the
Purchasers set forth in this Agreement shall remain operative and in full force
and effect regardless of (i) any termination of this Agreement, (ii) any
investigation made by or on behalf of any Purchaser or any person controlling
any Purchaser or by or on behalf of the Company, its officers or directors or
any other person controlling the Company and (iii) acceptance of and payment
for any of the Securities.

 

9.             Termination.
The Purchasers may terminate this Agreement as to all, but not less than all,
of the Purchasers by notice given to the Company executed by the Purchasers
purchasing more than fifty percent (50%) of the aggregate principal amount of
the Notes hereunder as set forth in Schedule I hereto, if prior to the
Closing Date (i) a Material Adverse Effect shall have occurred between the date
hereof and the Closing Date, (ii) a material disruption in securities
settlement, payment or clearance services in the United States shall have
occurred, (iii) any moratorium on commercial banking activities shall have been
declared by United States or New York State authorities, (iv) there shall have
been (A) an outbreak or escalation of hostilities between the United States and
any foreign power, or (B) an outbreak or escalation of any other insurrection
or armed conflict involving the United States or any other national or
international calamity or emergency, or (C) any material change in the
financial markets of the United States which, in the case of (A), (B) or (C)
above, makes it impracticable or inadvisable to proceed with the transactions
contemplated by this Agreement or (v) the failure of the Company to satisfy the
conditions set forth in Section 6 of this Agreement on or before the date that
is ten (10) calendar days after the date of this Agreement; provided, in each
case, that the party seeking to terminate this Agreement is not then in
material breach of this Agreement.

 

10.           Effectiveness.
This Agreement shall become effective upon the execution and delivery hereof by
the parties hereto.

 

19

 

11.           Parties.
This Agreement shall inure to the benefit of and be binding upon the Company,
the Guarantors and the Purchasers, any Indemnified Person referred to herein
and their respective successors and, with respect to the Purchasers, their
Permitted Assigns. Nothing expressed or mentioned in this Agreement is intended
or shall be construed to give any other person, firm or corporation any legal
or equitable right, remedy or claim under or in respect of this Agreement or
any provision herein contained. No purchaser of Securities from the Purchasers
shall be deemed to be a successor by reason merely of such purchase, and rights
under this Agreement may be assigned by the Purchasers only to Permitted
Assigns. For purposes of this Section 11, “Permitted Assigns” shall mean:  (i) an “affiliate” (as defined in Rule 501(b)
of Regulation D) of the Purchaser to whom Securities are assigned, (ii) a
pledgee (or a transferee of such pledgee) that succeeds to the Securities in
connection with a bona fide margin account or other loan or financing
arrangement secured by the Securities and (iii) in the case of GS only, any “qualified
institutional buyer” within the meaning of Rule 144A that purchases, directly
from GS or an affiliate of GS in a transaction complying with Rule 144A, Notes
originally purchased by GS hereunder; provided that, in the case of an
assignment pursuant to clause (iii) hereof, (a) such assignment shall be comprised
of only those rights, benefits and obligations inuring to GS under Sections 3,
5(c), 5(d), 8, 11 (other than the right of GS to make an assignment pursuant to
this Section 11(iii)), 12 (subject to the requirement that GS provide the
Company with the Permitted Assignee’s requisite notice information prior to the
date of the assignment), 13 and 15 — 20 of this Agreement, (b) the
representations and warranties of the Company set forth in Section 3 shall not
be deemed to be made or reaffirmed by the Company as of the date of such
assignment and shall speak only as of the date of this Agreement, except that
the Company shall, upon request by GS no less than three business days prior to
the date of such assignment, deliver to the Permitted Assignee, as of the date
of such assignment, a certificate executed by a duly appointed officer of the
Company confirming the representation and warranty set forth in Section 3(a) as
of the date of such assignment and (c) GS and the Permitted Assignee, by its
acceptance of the assignment contemplated by this clause (iii), agree that
neither such assignment nor compliance by the Company with the covenant
contained in Section 5(g) hereof shall be construed or deemed to constitute an
offer or sale of the Notes by the Company to the Permitted Assignee.

 

12.           Notices.
All notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed by registered or certified mail,
postage prepaid, return receipt requested, or otherwise delivered by hand or by
messenger.

 

Notices to the Purchasers shall be given at the address as set forth on
Schedule I hereto, with a copy to (solely for informational purposes):

 

Latham &
Watkins LLP

885 Third Avenue, Suite 1000

New York, NY  10022

Telephone:  (212) 906-1200

Facsimile:   (212) 751-4864

Attention:   Kirk A. Davenport II, Esq.

 

20

 

Notices to the Company shall be given to the
Company at:

 

Pliant
Corporation

1475 Woodfield Road, Suite 700

Schaumburg,
IL  60173

Attention: General Counsel

Telephone: (847) 969-3319

Facsimile: 
(847) 969-3338

 

with a copy to (solely for informational
purposes):

 

Sidley Austin LLP

One South Dearborn Street

Chicago, IL 60603

Telephone: (312) 853-7000

Facsimile: (312) 853-7036

Attention: 
Robert P. Freeman, Esq.

 

13.           Governing
Law.   THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
To the fullest extent permitted by applicable law, the Company and the
Guarantors hereby irrevocably submit to the non-exclusive jurisdiction of any
New York State court or Federal court sitting in the County of New York in
respect of any suit, action or proceeding arising out of or relating to the
provisions of this Agreement and irrevocably agree that all claims in respect
of any such suit, action or proceeding may be heard and determined in any such
court. The parties hereto hereby waive, to the fullest extent permitted by
applicable law, any objection that they may now or hereafter have to the laying
of venue of any such suit, action or proceeding brought in any such court, and
any claim that any such suit, action or proceeding brought in any such court
has been brought in an inconvenient forum. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY
TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

14.           Counterparts.
This Agreement may be signed in counterparts, each of which shall be an
original and all of which together shall constitute one and the same
instrument; provided that a facsimile signature shall be considered due
execution and shall be binding upon the signatory thereto with the same force
and effect as if the signature were an original, not a facsimile signature.

 

15.           Severability.
If any provision of this Agreement becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, portions of such
provision, or such 

 

21

 

provision in its entirety, to the extent necessary, shall be severed
from this Agreement and the balance of this Agreement shall be enforceable in
accordance with its terms.

 

16.           Titles
and Subtitles. The titles and subtitles used in this Agreement are used for
convenience only and are not to be considered in construing or interpreting
this Agreement.

 

17.           Amendments
and Waivers. Any term of this Agreement may be amended, modified or
supplemented only with the written consent of the Company and the holders of
more than fifty percent (50%) of the then-outstanding aggregate principal
amount of the Notes. Neither this Agreement nor any term hereof may be waived,
discharged or terminated (either generally or in a particular instance and
either retroactively or prospectively) other than by a written instrument
signed by the party against whom enforcement of any such waiver, discharge or
termination is sought.

 

18.           Entire
Agreement. This Agreement and the documents referenced herein constitute
the full and entire understanding and agreement among the parties with regard
to the subject matters hereof.

 

19.           Survival.
The respective representations, warranties, covenants and agreements of the
Company and the Purchasers set forth in or made pursuant to this Agreement will
remain in full force and effect and will survive delivery of and payment for
the Securities sold hereunder and any termination of this Agreement.

 

20.           Independence
of Purchasers. The obligations of each Purchaser under any Transaction
Document are several and not joint with the obligations of any other Purchaser,
and no Purchaser shall be responsible in any way for the performance of the
obligations of any other Purchaser under any Transaction Document. Nothing
contained herein or in any other Transaction Document, and no action taken by
the Purchasers pursuant hereto or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind
of entity, or create a presumption that the Purchasers are in any way acting in
concert or as a group with respect to such obligations or the transactions
contemplated by the Transaction Documents. The Purchasers represent and warrant
that they are not acting in concert or as a group with respect to such
obligations or the transactions contemplated by the Transaction Documents and
confirm that they have or legal counsel has on their behalf independently
participated in the negotiation of the transaction contemplated hereby. Each
Purchaser shall be entitled to independently protect and enforce its rights,
including, without limitation, the rights arising out of this Agreement or out
of any other Transaction Documents, and it shall not be necessary for any
Purchaser to be joined as an additional party in any proceeding for such
purpose.

 

[signature pages follow]

 

22

 

If the
foregoing is in accordance with your understanding, please sign and return four
counterparts hereof.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PLIANT CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph Kwederis

  	
   

  
	
   

  	
   

  	
  Name: Joseph Kwederis

  
	
   

  	
   

  	
  Title: Senior Vice President and Chief

  
	
   

  	
   

  	
           Financial
  Officer

  

 

 

[SIGNATURE PAGE TO PURCHASE AGREEMENT]

 

 

	
   

  	
  GUARANTORS

  
	
   

  	
   

  
	
   

  	
  PLIANT CORPORATION INTERNATIONAL,

  
	
   

  	
  PLIANT FILM PRODUCTS OF MEXICO, INC.,

  
	
   

  	
  PLIANT SOLUTIONS CORPORATION,

  
	
   

  	
  UNIPLAST HOLDINGS, INC.,

  
	
   

  	
  UNIPLAST U.S., INC.,

  
	
   

  	
  UNIPLAST INDUSTRIES CO.,

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph Kwederis

  	
   

  
	
   

  	
   

  	
  Joseph Kwederis

  
	
   

  	
   

  	
  Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
  PLIANT PACKAGING OF CANADA, LLC,

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Harold C. Bevis

  	
   

  
	
   

  	
   

  	
  Harold C. Bevis

  
	
   

  	
   

  	
  President

  
					

 

 

[SIGNATURE PAGE TO PURCHASE AGREEMENT]

 

 

	
   

  	
  PURCHASERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GOLDMAN, SACHS & CO.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

[SIGNATURE PAGE TO PURCHASE AGREEMENT]

 

 

	
   

  	
  PURCHASERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  UBS WILLOW FUND LLC 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

[SIGNATURE PAGE TO PURCHASE AGREEMENT]

 

 

Schedule I

 

Schedule of
Purchasers

 

	
  Name and Address of Purchaser

  	
   

  	
  Principal Amount of Securities

  and Purchase Price Therefor

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Goldman, Sachs & Co.

  	
   

  	
  $

  	
  12,000,000

  	
   

  
	
  85 Broad Street

  	
   

  	
   

  	
   

  
	
  New York, NY 10004

  	
   

  	
   

  	
   

  
	
  Telephone: (212) 902-1000

  	
   

  	
   

  	
   

  
	
  Facsimile: (212) 902-3000

  	
   

  	
   

  	
   

  
	
  Attention: Robert Schatzman

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  UBS Willow
  Fund LLC

  c/o Bond Street Capital, LLC

  700 Palisade Avenue

  Englewood Cliffs, NJ 07632

  Telephone: (201) 567-5050

  Facsimile: (201) 567-5055

  Attention: Joel Yarkony

  	
   

  	
  $

  	
  12,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total:

  	
   

  	
  $

  	
  24,000,000

  	
   

  

 

 

SCHEDULE II

 

SCHEDULE OF GUARANTORS

 

	
   

  	
   

  	
   

  	
   

  	
  Jurisdiction of

  
	
  Name of Guarantor

  	
   

  	
  Entity Type

  	
   

  	
  Formation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Pliant Corporation International

  	
   

  	
  Corporation

  	
   

  	
  Utah

  
	
  Pliant Film Products of Mexico, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Utah

  
	
  Pliant Solutions Corporation

  	
   

  	
  Corporation

  	
   

  	
  Utah

  
	
  Pliant Packaging of Canada, LLC

  	
   

  	
  Limited Liability Company

  	
   

  	
  Utah

  
	
  Uniplast Holdings, Inc.

  	
   

  	
  Corporation

  	
   

  	
  Delaware

  
	
  Uniplast U.S., Inc.

  	
   

  	
  Corporation

  	
   

  	
  Delaware

  
	
  Uniplast Industries Co.

  	
   

  	
  Unlimited Company

  	
   

  	
  Nova ScotiaExhibit 10.2

 

AMENDMENT
NO. 2, dated as of June 14, 2007 (this “Amendment”), to the Working
Capital Credit Agreement, dated as of July 18, 2006 (as amended, restated, supplemented,
or otherwise modified as of the date hereof, the “Credit Agreement”),
among PLIANT CORPORATION (the “Parent Borrower”), the Subsidiary Borrowers
party thereto, the Lenders party thereto and MERRILL LYNCH BANK USA, as
Administrative Agent.

 

A.            The Parent Borrower desires to
refinance in full the aggregate outstanding principal amount of 13% senior
subordinated notes due 2010 of the Parent Borrower outstanding on the date
hereof with the proceeds of the 18% senior subordinated notes due 2012 of the
Parent Borrower (the “Specified Transactions”) and has asked that the undersigned
(i) consent to the Specified Transactions (and waive any Defaults or Events of
Default resulting solely therefrom) and (ii) amend the Credit Agreement as set
forth herein.

 

B.            The undersigned have agreed to (i)
consent to the Specified Transactions (and waive any Defaults or Events of
Default resulting solely therefrom) and (ii) amend the Credit Agreement as set
forth herein.

 

C.            Capitalized terms used and not
otherwise defined herein shall have the meanings assigned thereto in the Credit
Agreement.

 

SECTION
1.           Consent and Waiver.
Effective as of Second Amendment Effective Date (as defined below) and subject
to the satisfaction (or due waiver) of the conditions set forth in Section 4
hereof, the undersigned hereby consent to the Specified Transactions and waive
any Defaults or Events of Default resulting solely therefrom.

 

SECTION
2.           Amendments to Credit
Agreement. The Credit Agreement is hereby amended as follows:

 

(a)           The definition of “Senior
Subordinated Notes” in Section 1.01 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

 

““Senior
Subordinated Notes” means the 18% senior subordinated notes due 2012 of the
Parent Borrower in an aggregate principal amount not to exceed $24,000,000 and
any Permitted Refinancing Indebtedness in respect thereof.”

 

(b)           Section 6.01(ix) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

“(ix) the
Senior Subordinated Notes in an aggregate principal amount not exceeding $24,000,000
plus the amount of additional Permitted Refinancing Indebtedness in
respect thereof incurred in respect of unpaid accrued interest and premium
thereon;”

 

(c)           Section 6.09(b)(iii) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

“(iii) payment of regularly scheduled interest
payments as and when due in respect of the Senior Subordinated Notes.”

 

SECTION
3.           Representations and
Warranties. Each of the Loan Parties represents and warrants to the
Administrative Agent and to each of the Lenders that:

 

 

(a)           This Amendment has been duly
authorized, executed and delivered by such Loan Party and constitutes a legal,
valid and binding obligation of such Loan Party, enforceable against such Loan
Party in accordance with its terms.

 

(b)           After giving effect to this Amendment,
the representations and warranties set forth in Article III of the Credit
Agreement and in the other Loan Documents qualified as to materiality are true
and correct and those not so qualified are true and correct in all material
respects on and as of the date hereof with the same effect as if made on and as
of the date hereof, except to the extent such representations and warranties
expressly relate to an earlier date, in which case such representations and
warranties are true and correct as of such earlier date.

 

(c)           After giving effect to this Amendment,
no Default has occurred and is continuing.

 

SECTION
4.           Conditions to
Effectiveness.  This Amendment shall become effective when the
following conditions have been satisfied (the “Second Amendment Effective
Date”):

 

(a)           The Administrative Agent shall have
received counterparts to this Amendment from the Parent Borrower, the other
Loan Parties, the Required Lenders and the Administrative Agent.

 

(b)           The Administrative Agent shall have
received all reasonable fees and expenses required to be paid or reimbursed by
the Parent Borrower pursuant hereto or the Credit Agreement or otherwise, in
each case to the extent invoiced to the Parent Borrower on or prior to the date
hereof, including all such reasonable fees and expenses of counsel to the
Administrative Agent.

 

(c)           The Administrative Agent shall have
received copies of the Senior Subordinated Note Documents certified by a
Financial Officer as complete and correct.

 

SECTION
5.           Continuing Effect. Except
as specifically amended hereby, the Credit Agreement shall continue in full
force and effect in accordance with the provisions thereof as in existence on
the date hereof. Each Loan Party hereby consents to this Amendment and agrees that
the terms hereof shall not affect in any way its obligations and liabilities
under the Loan Documents (as amended and otherwise expressly modified by this
Amendment) to which it is a party, all of which obligations and liabilities
shall remain in full force and effect and each of which is hereby reaffirmed
(as amended and otherwise expressly modified by this Amendment). After the date
hereof, any reference to the Credit Agreement shall mean the Credit Agreement
as amended hereby. This Amendment shall be a Loan Document for all purposes.

 

SECTION
6.           Applicable
Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

SECTION
7.           Counterparts. This Amendment
may be executed in two or more counterparts, each of which shall constitute an
original but all of which when taken together shall constitute but one
agreement. Delivery of an executed signature page to this Amendment by
facsimile transmission shall be effective as delivery of a manually signed
counterpart of this Amendment.

 

2

 

SECTION
8.           Expenses. The Parent
Borrower agrees to reimburse the Administrative Agent for reasonable out-of-pocket
expenses in connection with this Amendment, including the reasonable fees,
charges and disbursements of Weil, Gotshal & Manges LLP, counsel for
the Administrative Agent.

 

SECTION
9.           Headings. The headings
of this Amendment are for purposes of reference only and shall not limit or
otherwise affect the meaning hereof.

 

3

 

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

 

	
   

  	
  PLIANT CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Vice President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  UNIPLAST HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT CORPORATION PTY LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin Hubbard

  	
   

  
	
   

  	
  Name:

  	
  Kevin Hubbard

  
	
   

  	
  Title:

  	
  Director of Finance

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ian Rayner

  	
   

  
	
   

  	
  Name:

  	
  Ian Rayner

  
	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT CORPORATION OF CANADA LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  UNIPLAST INDUSTRIES CO.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT FILM PRODUCTS GMBH

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Heinz Flicker

  	
   

  
	
   

  	
  Name:

  	
  Heinz Flicker

  
	
   

  	
  Title:

  	
  Director of Finance

  
							

 

 

	
   

  	
  ASPEN INDUSTRIAL, S.A. DE
  C.V.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Treasurer/Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  UNIPLAST U.S., INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant Treasurer/Assistant
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT CORPORATION
  INTERNATIONAL

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant
  Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT FILM PRODUCTS OF
  MEXICO, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant
  Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT PACKAGING OF
  CANADA, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant
  Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT SOLUTIONS
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Assistant
  Treasurer/Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  JACINTO MEXICO, S.A. DE C.V.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Treasurer/Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  PLIANT DE MEXICO, S.A. DE
  C.V.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chris M. Nielsen

  	
   

  
	
   

  	
  Name:

  	
  Chris M. Nielsen

  
	
   

  	
  Title:

  	
  Treasurer/Secretary

  
							

 

 

	
   

  	
  MERRILL LYNCH BANK USA, as
  Administrative

  Agent and Domestic Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MERRILL LYNCH
  INTERNATIONAL

  (AUSTRALIA) LIMITED, as Australian Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MERRILL LYNCH CAPITAL
  CANADA INC., as

  Canadian Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MERRILL LYNCH CAPITAL
  MARKETS BANK

  LIMITED, as German Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MERRILL LYNCH MORTGAGE
  CAPITAL INC.,

  as Mexican Lender

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]