Exhibit 10.1

AMENDMENT NO. 3
 TO THE RECEIVABLES TRANSFER AGREEMENT

THIS AMENDMENT NO. 3 TO THE RECEIVABLES TRANSFER AGREEMENT (the
"Amendment") is entered into as of
September 30, 2005 by and among Nalco Receivables LLC, as transferor
(the "Transferor"), Nalco Company
("NALCO" and together with the
Transferor, the "Nalco Parties"), as
Collection Agent, Park Avenue Receivables Company, LLC, as a CP Issuer
and JPMorgan Chase Bank, N.A., as a Funding Agent, an APA Bank and as
Administrative Agent. Defined terms used herein and not otherwise
defined herein shall have the meaning given to them in the RTA (defined
below).

PRELIMINARY STATEMENTS

A.    The Transferor,
NALCO, the Transferees, the Funding Agent and the Administrative Agent
are parties to that certain Receivables Transfer Agreement among the
parties referred to above dated as of June 25, 2004, as amended by (i)
Waiver and Amendment No. 1 among the parties referred to above entered
into as of March 30, 2005 and (ii) Amendment No. 2 among the parties
referred to above entered into as of June 30,2 005 (the
"RTA").

B.    The
Transferor has requested an amendment of certain provisions of the
RTA.

C.    The Transferees, the Funding Agents, the Required
APA Banks and the Administrative Agent have agreed to such request on
and subject to the terms and conditions hereinafter set forth.

D.    JPMorgan Chase Bank, N.A. is the only APA Bank as of the
date hereof and constitutes the Required APA Banks.

NOW,
THEREFORE, in consideration of the premises set forth above, and other
good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as
follows:

1.    Accuracy of Preliminary Statements.
The parties agree that the foregoing Preliminary Statements are true
and correct in all respects.

2.    Amendments.
Section 7.1(l) and Section 7.1(m) of the RTA are hereby amended to read
in their entirety as follows:

"(l)    the average Default Ratio for
the three (3) preceding Monthly Settlement Periods exceeds 2.65%
(except 3.75% in the case of each of the Monthly Settlement
Periods ending on the last day of each month from and including March,
2005 to and including November, 2005); or"

"(m)    the average Delinquency Ratio
for the three (3) preceding Monthly Settlement Periods exceeds
5.80% (except 8.50% in the case of each of the Monthly
Settlement Periods ending on the last day of each month from and
including March, 2005 to and including November, 2005);
or"

3.    Condition Precedent. This
Amendment shall become effective and be deemed effective as of the date
first above written (the "Effective
Date") upon receipt by the Administrative Agent of an
executed counterpart of this Amendment from each of the parties
hereto.

4.    Covenants, Representations and Warranties of
the Nalco Parties.

(a)    On the Effective Date, each of
the Nalco Parties hereby reaffirms all covenants, representations and
warranties made by such Nalco Party in the RTA, to the extent the same
are not modified hereby and agrees that all such covenants,
representations and warranties shall be deemed to have been re-made as
of the Effective Date.

(b)    Each of the Nalco Parties hereby
represents and warrants that this Amendment constitutes the legal,
valid and binding obligation of such Nalco Party, enforceable against
such Nalco Party in 

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accordance with its terms. The execution,
delivery and performance by each Nalco Party of this Amendment: (i) are
within such Nalco Party's power; (ii) have been duly authorized
by all necessary or proper corporate action; (iii) are not in
contravention of any provision of such Nalco Party's certificate
of incorporation, bylaws or other organizational documents; (iv) will
not violate any law applicable to such Nalco Party; (v) will not
conflict with or result in the breach or termination of, constitute a
default under or accelerate any performance required by, any indenture,
mortgage, deed of trust, lease, agreement or other instrument to which
such Nalco Party is a party or by which such Nalco Party or any of its
respective property is bound; (vi) will not result in the creation or
imposition of any lien upon any of the property of such Nalco Party;
and (vii) do not require the consent or approval of any governmental
authority or any other Person, except those which were duly obtained,
made or complied with prior to the Effective Date.

5.    Reference to and Effect on the RTA.

(a)    On the Effective Date, each reference in the RTA and in
each of the other Transaction Documents to "this
Agreement," "hereunder,"
"hereof," "herein,"
or words of like import shall mean and be a reference to the RTA as
modified hereby, and each reference to the RTA in any other document,
instrument or agreement executed and/or delivered in connection with
the RTA shall mean and be a reference to the RTA as modified
hereby.

(b)    Except as specifically modified hereby, the
RTA, each of the other Transaction Documents and all other documents,
instruments and agreements executed and/or delivered in connection
therewith shall remain in full force and effect and are hereby ratified
and confirmed.

(c)    Except as expressly provided in
Section 2 hereof, the execution, delivery and effectiveness of
this Amendment shall not operate as a waiver of any right, power or
remedy of the Transferees, the Funding Agents or the Administrative
Agent under the RTA or any of the other Transaction Documents, nor
constitute a waiver of, amendment of, consent to or other modification
of any other term, provision, Termination Event, or of any term or
provision of any other Transaction Document, or of any transaction or
further or future action of the Transferor which would require the
consent of the Transferees, the Funding Agents or the Administrative
Agent under the RTA. Without limiting the generality of the foregoing,
the execution, delivery and effectiveness of this Amendment shall not
entitle the Transferor to a waiver of any existing or hereafter arising
Termination Event, nor shall the execution and delivery of this
Amendment by the Transferees, the Funding Agents or the Administrative
Agent establish a course of dealing among the Transferees, the Funding
Agents, the Administrative Agent and the Transferor or in any other way
obligate the Transferees, the Funding Agents or the Administrative
Agent to hereafter provide any waiver or extension to the Transferor
for the payment or performance by the Transferor of its obligations
under the RTA and the Transaction Documents prior to the enforcement by
the Transferees, the Funding Agents and the Administrative Agent of any
of their respective rights and remedies under the RTA and the other
Transaction Documents.

6.    GOVERNING LAW.    THIS
AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

7.    Execution in Counterparts.    This Amendment may
be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which taken
together shall constitute but one and the same instrument.

8.    Headings.    Section headings in this Amendment
are included herein for convenience or reference only and shall not
constitute a part of this Amendment for any other purpose.

SIGNATURE PAGE FOLLOWS

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


		NALCO RECEIVABLES LLC,
as Transferor




			
		By:    	/s/JANET M.
SCHOO                            

Name:Janet M.
Schoo
Title:Assistant Treasurer



		NALCO COMPANY, as Collection Agent




			
		By:    	/s/BRADLEY J.
BELL                            

Name:Bradley J.
Bell
Title:Executive President,
 Chief Financial Officer



		PARK AVENUE RECEIVABLES
 COMPANY,
LLC




			
		By:    	JPMorgan Chase
Bank, N.A., as attorney-in-fact


			
		By:    	/s/ STACEY
PIKE                                    

Name:
Stacey Pike
Title: Vice President



		JPMORGAN CHASE BANK, N.A., as an APA Bank,
a Funding Agent and as Administrative Agent




			
		By:    	/s/ STACEY
PIKE                                    

Name:
Stacey Pike
Title: Vice
President


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