Ardagh Glass Finance plc - Irish Stock Exchange

(y) if, since the beginning of such period, the Parent Guarantor or any Restricted Subsidiary (by
merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any
Person which becomes a Restricted Subsidiary) or an acquisition of assets, including any
acquisition of an asset occurring in connection with a transaction causing a calculation to be
made hereunder, which constitutes all or substantially all of an operating unit of a business,
Consolidated Adjusted Net Income and Consolidated Net Interest Expense for such period
shall be calculated after giving pro forma effect thereto (including the incurrence of any Debt)
as if such Investment or acquisition occurred on the first day of such period; and
(z) if, since the beginning of such period, any Person (that subsequently became a Restricted
Subsidiary or was merged with or into the Parent Guarantor or any Restricted Subsidiary since
the beginning of such period) shall have made any Asset Sale or any Investment or acquisition
of assets that would have required an adjustment pursuant to clause (x) or (y) above if made
by the Parent Guarantor or a Restricted Subsidiary during such period, Consolidated Adjusted
Net Income and Consolidated Net Interest Expense for such period shall be calculated after
giving pro forma effect thereto as if such Asset Sale or Investment or acquisition occurred on
the first day of such period.
If any Debt bears a floating rate of interest and is being given pro forma effect, the interest
expense on such Debt shall be calculated as if the rate in effect on the date of determination had been
the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable
to such Debt for a period equal to the remaining term of such Interest Rate Agreement).
‘‘Consolidated Net Interest Expense’’ means, for any period, without duplication and in each case
determined on a consolidated basis in accordance with GAAP, the sum of:
(a) the Parent Guarantor’s and the Restricted Subsidiaries’ total interest expense for such period,
including, without limitation:
(i) amortization of debt discount;
(ii) the net costs of Commodity Hedging Agreements, Interest Rate Agreements and
Currency Agreements (including amortization of fees and discounts);
(iii) commissions, discounts and other fees and charges owed with respect to letters of credit
and bankers’ acceptance financing and similar transactions;
(iv) the interest portion of any deferred payment obligation and amortization of debt issuance
costs; plus
(b) the interest component of the Parent Guarantor’s and the Restricted Subsidiaries’ Capitalized
Lease Obligations accrued and/or scheduled to be paid or accrued during such period other
than the interest component of Capitalized Lease Obligations between or among the Parent
Guarantor and any Restricted Subsidiary or between or among Restricted Subsidiaries; plus
(c) the Parent Guarantor’s and the Restricted Subsidiaries non-cash interest expenses and interest
that was capitalized during such period; plus
(d) the interest expense on Debt of another Person to the extent such Debt is guaranteed by the
Parent Guarantor or any Restricted Subsidiary or secured by a Lien on the Parent Guarantor’s
or any Restricted Subsidiary’s assets, but only to the extent that such interest is actually paid
by the Parent Guarantor or such Restricted Subsidiary; minus
(e) the interest income of the Parent Guarantor and the Restricted Subsidiaries during such
period.
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