Ardagh Glass Finance plc - Irish Stock Exchange

etain Permitted Junior Securities and payments made from the trust (if any) described under ‘‘—Legal
Defeasance or Covenant Defeasance of Indenture’’).
Payment Blockage Provisions
The Indenture also will provide that a Subsidiary Guarantor may not make any payment in respect
of its Guarantee (except in Permitted Junior Securities or from the trust (if any) described under
‘‘—Legal Defeasance or Covenant Defeasance of Indenture’’) if:
(a) a payment default on Designated Senior Debt of such Subsidiary Guarantor has occurred and
is continuing beyond any applicable grace period; or
(b) any other default occurs and is continuing on any Designated Senior Debt of such Subsidiary
Guarantor that permits the holders of that Designated Senior Debt to accelerate its maturity
and the Trustee receives a notice of such default (a ‘‘Payment Blockage Notice’’) from the
Issuer or the holders of such Designated Senior Debt.
Payments on any such Guarantee of a Subsidiary Guarantor may and will be resumed:
(i) in the case of a payment default on Designated Senior Debt, when such default is cured or
waived; or
(ii) in the case of a non-payment default on Designated Senior Debt, upon the earlier of the date
on which such non-payment default is cured or waived and 179 days after the date on which
the applicable Payment Blockage Notice is received, unless the maturity of any Designated
Senior Debt has been accelerated.
No new Payment Blockage Notice may be delivered unless and until (x) 360 days have elapsed
since the delivery of the immediately prior Payment Blockage Notice and (y) all scheduled payments of
principal, premium, if any, and interest on the Notes that have come due have been paid in full in
cash.
No non-payment default that existed or was continuing on the date of delivery of a Payment
Blockage Notice to the Trustee will be, or be made, the basis for a subsequent Payment Blockage
Notice.
Turnover
If the Trustee receives a payment in respect of the Notes (except in Permitted Junior Securities or
from the trust (if any) described under ‘‘—Legal Defeasance or Covenant Defeasance of Indenture’’)
when:
(a) the payment is prohibited by the subordination provisions of the Indenture described in this
‘‘—Ranking of the Notes and the Guarantees; Subordination’’ section; and
(b) the Trustee or the holder of the Note has actual knowledge that payment is so prohibited;
then the Trustee will hold the payment on trust for the benefit of the holders of the relevant Senior
Debt and, upon the proper written request of the holders of the relevant Senior Debt, the Trustee will
deliver the amounts in trust to the Senior Agent or any other proper representative of the holders of
the relevant Senior Debt.
Intercreditor Agreement
The Indenture, the Notes and the Guarantees will be subject to the terms of the Intercreditor
Agreement and any additional intercreditor agreements entered into in the future (without any further
consent of the holders of the Notes) in favor of the holders of Designated Senior Debt of the
Subsidiary Guarantors to give effect to the preceding subordination provisions of the Indenture
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