Document:

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 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

2

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

3Exhibit
10.2

AMENDMENT NO. 3
TO
CREDIT AGREEMENT

This AMENDMENT NO. 3 TO CREDIT AGREEMENT, dated as of
October 19, 2005 (this "Amendment"),
is entered into among NALCO HOLDINGS LLC, a Delaware
limited liability company
("Holdings"), NALCO
COMPANY, a Delaware corporation (the "U.S.
Borrower") and CITICORP NORTH AMERICA,
INC., a Delaware corporation, in its capacity as administrative
agent for the Lenders and as agent for the Secured Parties (in such
capacity, the "Administrative Agent"),
and amends the Credit Agreement dated as of November 4, 2003 (as
amended to the date hereof and as the same may be further amended,
supplemented or otherwise modified from time to time, the
"Credit Agreement") entered into among
Holdings, the U.S. Borrower, the institutions from time to time party
thereto as Lenders (the "Lenders"),
the Administrative Agent, Bank of America, N.A., as Documentation
Agent, and Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.,
Goldman Sachs Credit Partners L.P. and UBS Securities LLC, as
Co-Syndication Agents and Citigroup Global Markets Inc. Capitalized
terms used herein and not otherwise defined herein shall have the
meanings ascribed to them in the Credit Agreement.

W I T N E S S E T H:

WHEREAS,
the U.S. Borrower has requested that the Lenders amend the Credit
Agreement to effect the changes described below;

NOW,
THEREFORE, in consideration of the premises and for other good
and valuable consideration (the receipt and sufficiency of which is
hereby acknowledged), the parties hereto hereby agree as follows:

Section 1.    Amendments to the Credit Agreement

(a)    Section 6.01(u) of the Credit Agreement is hereby amended
by adding the following proviso to the end of such clause:

"; provided that an aggregate amount of up to
$25.0 million of such Indebtedness of Foreign Subsidiaries may be
secured by a Lien on the Collateral under the Security Documents so
long as the lender of such Indebtedness is at the time of incurrence a
Lender or an Affiliate of a Lender; provided further
that the U.S. Borrower shall deliver to the Administrative Agent a
Schedule 6.01(u) to the Credit Agreement that identifies the
amount of such Indebtedness and designates such Indebtedness as
Indebtedness which shall be secured by a Lien on the Collateral
together with a copy of the document governing such
Indebtedness."

(b)    Section 6.04 of the Credit
Agreement is hereby amended by (i) deleting the
"and" at the end of clause (t) thereof, (ii)
replacing the "." at the end of clause (u)
thereof with "; and" and (iii) adding the
following new clause (v):

"(v)    Investments as
a result of the Company contributing (directly or indirectly) all of
the Equity Interests owned by the Company on the Amendment No. 3
Effective Date in the following subsidiaries to Nalco Universal
Holdings B.V., a Dutch holding company: (a) Nalco Gulf Limited, (b)
Nalco Taiwan Co., Ltd., (c) Nalco Hellas, S.A. (Greece), (d) Nalco Hong
Kong Limited, (e) Nalco Industrial Services (Thailand) Co., Ltd., (f)
Nalco Anadolu Kimya Sanayii Ve Ticaret A.S. (Turkey), (g) Ondeo Nalco
India Limited, (h) Nalco Industrial Services (Su Zhou) Co., Ltd., (i)
Nalco Zao (Russia) and (j) Ondeo Nalco Saudi Co.,
Ltd."

(c)    Section 9.19 of the Credit Agreement
is hereby amended by adding the following new sentence at the end
thereof:

"Upon written notice from the U.S.
Borrower to the Administrative Agent of consummation of the transaction
contemplated by Section 6.04(v), the Collateral Agent shall release and
discharge any and all security interests and Liens granted to it
pursuant to the Security Documents solely in respect 

of the Equity Interests that are directly or
indirectly contributed to Nalco Universal Holdings B.V. pursuant to
Section 6.04(v) and the Administrative Agent shall take all steps
reasonably requested by U.S. Borrower to release any existing security
interests and Liens in such Equity Interests."

Section 2.    Amendment to the U.S. Guarantee and
Collateral Agreement

(a)    Clause (c) of the definition of
"Obligations" in the U.S. Guarantee and
Collateral Agreement is hereby amended by inserting
"(i)" at the beginning of clause (c) thereof
and inserting the following new clause (ii) at the end of clause
(c):

"and (ii) the due and punctual payment and
performance of all obligations of Foreign Subsidiaries under
Indebtedness incurred pursuant to committed and uncommitted working
capital facilities (to the extent such Indebtedness is permitted under
Section 6.01(u) of the Credit Agreement and is identified as ordinary
working capital Indebtedness on Schedule 6.01(u) of the Credit
Agreement (as modified from time to time) that will be secured by a
Lien on the Collateral or is Permitted Refinancing Indebtedness of any
such identified Indebtedness that is incurred for working capital
purposes in the ordinary course of business on ordinary business terms)
that is with a counterparty that is a Lender or an Affiliate of a
Lender at the time of borrowing."

(b)    (i)
Clause (d) of the definition of "Secured
Parties" in the U.S. Guarantee and Collateral Agreement is
hereby amended by inserting "or a Foreign
Subsidiary" after the phrase "with a Loan
Party" and before the phrase "the obligations
under which constitute Obligations" and (ii) clause (e) of
the definition of "Secured Parties" in the
U.S. Guarantee and Collateral Agreement is hereby amended by inserting
"or clause (d)" after the phrase
"pursuant to clause (c)" and before the
phrase "of the definition of such term".

Section 3.    Conditions Precedent to the Effectiveness of
this Amendment

This Amendment shall become effective as of the
date first written above when, and only when, each of the following
conditions precedent shall have been satisfied or waived (the
"Amendment No. 3 Effective Date") by
the Administrative Agent:

(a)    Executed
Counterparts.    The Administrative Agent shall have received
this Amendment, duly executed by Holdings, the U.S. Borrower, the
Administrative Agent and the Required Lenders;

(b)    Corporate and Other Proceedings.    All corporate
and other proceedings, and all documents, instruments and other legal
matters in connection with the transactions contemplated by this
Amendment shall be reasonably satisfactory in all respects to the
Administrative Agent; and

(c)    No Default or Event of
Default.    After giving effect to this Amendment, no Default or
Event of Default shall have occurred and be continuing.

Section 4.    Representations and Warranties

On and
as of the Amendment No. 3 Effective Date, after giving effect to this
Amendment, the U.S. Borrower hereby represents and warrants to the
Administrative Agent and each Lender as follows:

(a)    this Amendment has been duly authorized,
executed and delivered by the U.S. Borrower and Holdings and
constitutes the legal, valid and binding obligations of the U.S.
Borrower and Holdings enforceable against the U.S. Borrower and
Holdings in accordance with its terms and the Credit Agreement as
amended by this Amendment and constitutes the legal, valid and binding
obligation of the U.S. Borrower and Holdings enforceable against the
U.S. Borrower and Holdings in accordance with its terms;

(b)    each of the representations and warranties
contained in Article III (Representations and Warranties)
of the Credit Agreement and each other Loan Document is true and
correct in all material respects on and as of the Amendment No. 3
Effective Date, as if made on and as of such date and except to the
extent that such representations and warranties specifically relate to
a specific date, in which case such representations and warranties
shall be true and correct in all material respects as of such specific
date; provided, however, that references therein to the
"Credit 

Agreement" shall be deemed to
refer to the Credit Agreement as amended hereby and after giving effect
to the consents and waivers set forth herein; and

(c)    no Default or Event of Default has occurred
and is continuing (except for those that are waived).

Section 5.    Fees and Expenses

The U.S. Borrower
and each other Loan Party agrees to pay on demand in accordance with
the terms of Section 9.05 (Costs and Expenses) of the Credit
Agreement all reasonable out-of-pocket costs and expenses of the
Administrative Agent in connection with the preparation, reproduction,
execution and delivery of this Amendment (including, without
limitation, the reasonable fees and out-of-pocket expenses of counsel
for the Administrative Agent with respect thereto).

Section 6.    Reference to the Effect on the Loan
Documents

(a)    As of the Amendment No. 3 Effective Date,
each reference in the Credit Agreement to "this
Agreement,"
"hereunder,"
"hereof,"
"herein," or words of like import, and
each reference in the other Loan Documents to the Credit Agreement
(including, without limitation, by means of words like
"thereunder",
"thereof" and words of like import),
shall mean and be a reference to the Credit Agreement, as amended
hereby, and this Amendment and the Credit Agreement shall be read
together and construed as a single instrument. Each of the table of
contents and lists of Exhibits and Schedules of the Credit Agreement
shall be amended to reflect the changes made in this Amendment as of
the Amendment No. 3 Effective Date.

(b)    Except as expressly
amended hereby or specifically waived above, all of the terms and
provisions of the Credit Agreement and all other Loan Documents are and
shall remain in full force and effect and are hereby ratified and
confirmed.

(c)    The execution, delivery and effectiveness of
this Amendment shall not, except as expressly provided herein, operate
as a waiver of any right, power or remedy of the Lenders, the U.S.
Borrower, Lead Arranger or the Administrative Agent under any of the
Loan Documents, nor constitute a waiver or amendment of any other
provision of any of the Loan Documents or for any purpose except as
expressly set forth herein.

(d)    This Amendment is a Loan
Document.

Section 7.    Execution in Counterparts

This Amendment may be executed in any number of counterparts and by
different parties in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Signature pages
may be detached from multiple separate counterparts and attached to a
single counterpart so that all signature pages are attached to the same
document. Delivery of an executed counterpart by telecopy shall be
effective as delivery of a manually executed counterpart of this
Amendment.

Section 8.    Governing Law

This
Amendment shall be governed by and construed in accordance with the law
of the State of New York.

Section 9.    Section
Titles

The section titles contained in this Amendment are and
shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto, except
when used to reference a section. Any reference to the number of a
clause, sub-clause or subsection of any Loan Document immediately
followed by a reference in parenthesis to the title of the section of
such Loan Document containing such clause, sub-clause or subsection is
a reference to such clause, sub-clause or subsection and not to the
entire section; provided, however, that, in case of
direct conflict between the reference to the title and the reference to
the number of such section, the reference to the title shall govern
absent manifest error. If any reference to the number of a section (but
not to any clause, sub-clause or subsection thereof) of any Loan
Document is followed 

immediately by a reference in parenthesis to
the title of a section of any Loan Document, the title reference shall
govern in case of direct conflict absent manifest error.

Section 10.    Notices

All communications and
notices hereunder shall be given as provided in the Credit
Agreement.

Section 11.    Severability

The fact
that any term or provision of this Agreement is held invalid, illegal
or unenforceable as to any person in any situation in any jurisdiction
shall not affect the validity, enforceability or legality of the
remaining terms or provisions hereof or the validity, enforceability or
legality of such offending term or provision in any other situation or
jurisdiction or as applied to any person.

Section
12.    Successors

The terms of this Amendment shall be binding
upon, and shall inure to the benefit of, the parties hereto and their
respective successors and assigns.

Section
13.    Waiver of Jury Trial

EACH OF THE PARTIES HERETO
IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH
RESPECT TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT.

[SIGNATURE PAGES FOLLOW]

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

											
	 		NALCO
HOLDINGS LLC
	 		By:		/s/ STEPHEN
N.
LANDSMAN
	 		Name:   Stephen
N. Landsman
Title:   Vice President and General
Counsel
	 		NALCO
COMPANY, as the U.S. Borrower
	 		By:		/s/ STEPHEN
N.
LANDSMAN
	 		Name:   Stephen
N. Landsman
Title:   Vice President and General
Counsel
	 		CITICORP
NORTH AMERICA, INC.,

as Administrative Agent and
Lender
	 		By:		/s/ JORONNE
JETER
	 		Name:   Joronne
Jeter
Title:    Vice
President

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