SUPPLEMENTAL INDENTURE
EXHIBIT 10.2.15
SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of 20 December 2007,
among SIG Information Technology GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its business address at Xxxxxxxxxx 00, 00000 Xxxxxxx, Xxxxxxx, which is registered in the
commercial register (Handelsregister) of the local court (Amtsgericht) of Xxxxx. under HRB
4050 (the “New Senior Note Guarantor”), BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A.
(or its successor), a Luxembourg public limited liability company (société anonyme), having
its registered office at 6, Parc d’Activités Syrdall, X-0000 Xxxxxxxx, Xxxxx-Xxxxx xx
Xxxxxxxxxx, registered with the Luxembourg register of commerce and companies under
the number B129.914 (the “Issuer”) and The Bank of New York, as trustee under the indenture
referred to below (the “Trustee”).
W I T N E S S E T H :
WHEREAS the Issuer has heretofore executed and delivered to the Trustee an indenture
(as amended, supplemented or otherwise modified, the “Indenture”) dated as of June 29,
2007, providing for the issuance of the Issuer’s 8% Senior Notes due 2016 (the
“Securities”), initially in the aggregate principal amount of €480,000,000;
WHEREAS Section 4.11 of the Indenture provides that under certain circumstances the
Issuer is required to cause the New Senior Note Guarantor to execute and deliver to the
Trustee a supplemental indenture pursuant to which the New Senior Note Guarantor shall
unconditionally guarantee all the Issuer’s Obligations under the Securities and the
Indenture pursuant to a Senior Note Guarantee on the terms and conditions set forth herein;
and
WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee and the Issuer are
authorized to execute and deliver this Supplemental Indenture;
NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Senior Note Guarantor,
the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of
the holders of the Securities as follows:
1. Defined Terms. As used in this Supplemental Indenture, terms defined in
the Indenture or in the preamble or recital hereto are used herein as therein defined,
except that the term “Holders” in this Supplemental Indenture shall refer to the term
“Holders” as defined in the Indenture and the Trustee acting on behalf of and for the
benefit of such Holders. The words “herein,” “hereof”
and “hereby” and other words of similar import used in this Supplemental Indenture
refer to this Supplemental Indenture as a whole and not to any particular section hereof.
2. Agreement to Guarantee.
(a) The New Senior Note Guarantor hereby agrees, jointly and severally with all
existing Senior Note Guarantors (if any), to unconditionally guarantee the Issuer’s
Obligations under the Securities and the Indenture on the terms and subject to the
conditions set forth in Article X and Article XI of the Indenture and to be bound by all
other applicable provisions of the Indenture and the Securities and to perform all of the
obligations and agreements of a Senior Note Guarantor under the Indenture.
(b) The New Senior Note Guarantor shall not be liable to pay any amount to the extent
that any liability or obligation under the Senior Note Guarantee would result in a
violation of, or give rise to directors’ personal liability (with respect to the New Senior
Note Guarantor or its shareholders) under, mandatory German capital maintenance rules
(Kapitalerhaltunsgvorschriften) pursuant to German company law, in particular Sections 30
et seq. (and, if enacted, the new Section 64) of the German Act on Limited Liability
Companies (Gesetz über Gesellschaften mit beschränkter Haftung) and/or Sections 57, 71 and
71a of the German Stock Corporation Act (Aktiengesetz) (the “German Capital Maintenance
Rules”). To the extent that any liability or obligation of the New Senior Note Guarantor
under the Senior Note Guarantee violates or contradicts German Capital Maintenance Rules or
gives rise to directors’ personal liability, such liability or obligation shall be deemed
replaced by a liability or obligation of a similar nature compliant with German Capital
Maintenance Rules, which provides the best possible result (within the limits of German
Capital Maintenance Rules) in favour of the Holders and the Trustee and their respective
successors and assigns.
(c) The Senior Note Guarantee shall further not be enforced to the extent that the New
Senior Note Guarantor demonstrates in reasonable detail that such enforcement would lead to
a breach of the duty of care owing by its shareholders to it (Gebot der Rücksichtnahme auf
die Eigenbelange der Gesellschaft) and/or of the prohibition of insolvency-causing
intervention (Verbot des existenzvernichtenden Eingriffs), as developed by the recent
jurisdiction (in particular BGH II ZR 178/99 Xxxxxx “Vulkan”, BGH ZR 196/00 and BGH II ZR
300/00 “KBV” and BGH II ZR 3/04 “Trihotel”) of the Federal Supreme Court
(Bundesgerichtshof), caused for example, as far as this would be within the scope of
the cited court rulings, if the entering into the Senior Note Guarantee or its enforcement
results in the illiquidity (Zahlungsunfähigkeit) of the New Senior Note Guarantor.
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(d) The Trustee shall be obliged to retransfer proceeds from any enforcement of the
Senior Note Guarantee to the extent the New Senior Note Guarantor demonstrates in
reasonable detail that the enforcement was excluded pursuant to paragraphs (b) or (c)
above.
3. Notices. All notices or other communications to the New Senior Note
Guarantor shall be given as provided in Section 13.02 of the Indenture.
4. Ratification of Indenture; Supplemental Indentures Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed
and all the terms, conditions and provisions thereof shall remain in full force and effect.
This Supplemental Indenture shall form a part of the Indenture for all purposes, and every
holder of Securities heretofore or hereafter authenticated and delivered shall be bound
hereby.
5. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW.
6. Trustee Makes No Representation. The Trustee shall not be responsible in
any manner whatsoever for or in respect of the recitals contained herein, all of which
recitals are made solely by the Issuer and the New Senior Note Guarantor. Furthermore, the
Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture.
7. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement.
8. Effect of Headings. The Section headings herein are for convenience only
and shall not effect the construction thereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be
duly executed as of the date first above written.
| SIG INFORMATION TECHNOLOGY GmbH, |
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| By: | /s/ Xxxxx Xxxxxx | |||
| Name: | Xxxxx Xxxxxx | |||
| Title: | ||||
| By: | /s/ Xxxxx Xxxx | |||
| Name: | Xxxxx Xxxx | |||
| Title: | ||||
| THE BANK OF NEW YORK, as Trustee, |
||||
| By: | /s/ Xxxx Xxxxx | |||
| Name: | Xxxx Xxxxx | |||
| Title: | Assistant Vice President | |||
| BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A., |
||||
| By: | /s/ Xxxxx Xxxx | |||
| Name: | Xxxxx Xxxx | |||
| Title: | ||||
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