Document:

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                                                                   Exhibit 10.56

                   SECOND AMENDMENT TO MODIFIED LOAN AGREEMENT

          THIS SECOND AMENDMENT TO MODIFIED LOAN AGREEMENT (the "Amendment") is
made and entered into to be effective as of June 30, 2002, by and between BORDEN
CHEMICALS AND PLASTICS OPERATING LIMITED PARTNERSHIP, a Delaware limited
partnership, in its capacity as debtor-in-possession under that certain Chapter
11 bankruptcy case filed as Case No. 01-1268 (the "Case") filed on April 3, 2001
with the United States Bankruptcy Court for the District of Delaware (the
"Court") (the "Borrower"), and BCP MANAGEMENT, INC., a Delaware corporation, in
its capacity as debtor-in-possession under that certain Chapter 11 bankruptcy
case filed as Case No. 02-10875 (the "Lender Case") filed on March 22, 2002 with
the Court (the "Lender"). For valuable consideration, the receipt, sufficiency
and adequacy of which are hereby acknowledged, the Borrower and the Lender,
intending to be legally bound, hereby recite and agree as follows:

                                    Recitals

          A.   On April 30, 2002, the Borrower and the Lender entered into that
certain Modified Loan Agreement (as amended, the "Loan Agreement"), pursuant to
which the Lender agreed to lend to the Borrower up to $6,000,000 subject to the
terms and conditions contained therein. On May 23, 2002, the Borrower and the
Lender entered into that certain First Amendment to Modified Loan Agreement and
First Amendment to Note, pursuant to which the maturity date under the Loan
Agreement was extended until June 30, 2002 and the Commitment was reduced to
$4,500,000.

          B.   The Court has issued in the Lender Case and the Case orders
authorizing the extension of the maturity date under the Loan Agreement until
July 17, 2002.

          C.   The Borrower and the Lender mutually wish to amend the Loan
Agreement, according to the terms and conditions hereinafter set forth.

                                    Agreement

          1.   Definitions. All capitalized terms used herein which are defined
in the Loan Agreement shall have the same meanings when used herein.

          2.   Amendments to the Loan Agreement. As of the date hereof, the Loan
Agreement shall be and hereby is amended and modified as follows:

               a. The definition of "Maturity Date" contained in Section
     1.1 of the Loan Agreement is hereby modified to delete therefrom the
     phrase "June 30, 2002" and replace it with the phrase "July 17, 2002".

               b. Section 2.1 of the Loan Agreement is hereby amended by
     deleting the phrase "June 30, 2002" and replacing it with "July 17,
     2002".

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          3.   Confirmation and Ratification. Except as specifically modified
and amended pursuant to the terms hereof, the Loan Agreement remains unchanged
and in full force and effect as written. The parties hereto hereby ratify and
confirm in all respects, as of the date hereof, all of the terms, conditions,
representations, warranties, covenants and provisions contained therein, as
modified and amended hereby, and the Borrower hereby confirms and ratifies in
all respects all of the Obligations.

          4.   No Default. The Borrower hereby ratifies and confirms that there
are no Defaults or Events of Default which have occurred and are continuing as
of the date hereof.

          5.   Governing Law. This Amendment, and the rights and obligations of
the parties hereunder, shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Ohio, except and only to the extent
precluded by other laws of mandatory application. Notwithstanding the foregoing,
the Court shall retain jurisdiction over this Amendment and the forum for any
action relating hereto shall be the Court.

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.

                                  BORDEN CHEMICALS AND PLASTICS
                                  OPERATING LIMITED PARTNERSHIP, a
                                  Delaware limited partnership

                                  By: BCP Management, Inc., a Delaware
                                  corporation, its general partner

                                  By:
                                     ------------------------------------------
                                     Mark J. Schneider
                                     President and Chief Executive Officer

                                  BCP MANAGEMENT, INC.
                                  a Delaware corporation

                                  By:
                                     ------------------------------------------
                                     Mark J. Schneider
                                     President and Chief Executive Officer

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                                                                   EXHIBIT 10.57

                         UNITED STATES BANKRUPTCY COURT
                              DISTRICT OF DELAWARE

In re:                                    :
                                          :     Jointly Administered
BORDEN CHEMICALS AND                      :     Case No. 01-1268 (PJW)
PLASTICS OPERATING LIMITED                :
PARTNERSHIP, a Delaware limited           :
partnership, et al.,                      :
                                          :     Chapter 11
                                 Debtors. :
                                          :     Re: Docket No.870
                                          :

             INTERIM ORDER AUTHORIZING BORDEN CHEMICALS AND PLASTICS
            OPERATING LIMITED PARTNERSHIP TO ENTER INTO MODIFIED LOAN
                       AGREEMENT WITH BCP MANAGEMENT, INC.

          This matter coming before the Court on the Motion of the Debtors and
Debtors in Possession for Authority to Enter Into an Amended Loan Agreement with
BCP Management, Inc. (the "Motion"); the Court having reviewed the Motion and
having heard the statements of counsel in support of the relief requested in the
Motion at the interim hearing held on the Motion (the "Hearing"); and the Court
having determined that the legal and factual bases set forth in the Motion and
at the Hearing establish just cause for granting on an interim basis the relief
requested in the Motion, as agreed to by counsel on the record at the Hearing;

          THE COURT HEREBY FINDS THAT:

          A.   The Court has jurisdiction over this matter pursuant to 28 U.S.C.
Sections 157 and 1334.

          B.   This is a core proceeding pursuant to 28 U.S.C. Section
157(b)(2)(D)(M) and (O).

          C.   Notice of the Motion and the Hearing was sufficient under the
circumstances.

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          D.   A sound business purpose exists for Borden Chemicals and Plastics
Operating Limited Partnership ("BCP") to enter into the Modified Loan Agreement
(as that term is used in the Motion), pursuant to sections 105, 363 and 364(a)
of the United States Bankruptcy Code, 11 U.S.C. Sections 101-1330 (the
"Bankruptcy Code").

          IT IS HEREBY ORDERED THAT:

          1.   The Motion is GRANTED as set forth herein on an interim basis.

          2.   Capitalized terms not otherwise defined herein shall have the
meanings given to them in the Motion, the Modified Loan Agreement, or the Note
which is contemplated thereby.

          3.   The terms and conditions of the Modified Loan Agreement, the Note
and Borrowing Certificate described therein are hereby approved on an interim
basis.

          4.   BCP is hereby authorized to borrow on an interim basis up to
$4,500,000 from BCP Management, Inc. ("BCPM"), up to and until August 19, 2002,
in accordance with the terms and conditions of the Modified Loan Agreement and
as discussed on the record at the Hearing.

          5.   BCP may incur the debt contemplated by the Modified Loan
Agreement pursuant to Section 364(b) of the Bankruptcy Code with the protection
afforded by Section 364(e) of the Bankruptcy Code. Such debt shall constitute a
debt owed by BCP and not a contribution of capital into BCP by BCPM. Funds
loaned by BCPM to BCP pursuant to the Modified Loan Agreement shall constitute
an allowed administrative expense under Section 503(b)(1)(A) of the Bankruptcy
Code.

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          5.   A final hearing on the Motion shall be held on August 19, 2002 at
11:30 a.m. EST. Objections to the Motion shall be filed and served on or before
August 12, 2002 at 4:00 p.m. EST.

          IT IS SO ORDERED.

Dated: July 29, 2002                      /s/ Peter J. Walsh
                                          -----------------------------------
                                          HONORABLE PETER J. WALSH

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                                                                   Exhibit 10.58

                         UNITED STATES BANKRUPTCY COURT
                              DISTRICT OF DELAWARE

In re:                                  :
                                        :   Jointly Administered
BORDEN CHEMICALS AND                    :   Case No. 01-1268 (PJW)
PLASTICS OPERATING LIMITED              :
PARTNERSHIP, a Delaware limited         :
partnership, et al.,                    :
                                        :   Chapter 11
                        Debtors.        :   Relates to Docket No. 860

               ORDER AUTHORIZING DEBTORS AND DEBTORS IN POSSESSION
                 TO ASSUME AND ASSIGN CERTAIN ETHYLENE CONTRACTS
                             AND SETTING CURE AMOUNT

          This matter coming before the Court on the Motion of Debtors and
Debtors in Possession for an Order: (A) Approving Bid Procedures; (B)
Authorizing Assumption and Assignment of Certain Ethylene Contracts; (C) Setting
Cure Amount; and (D) Granting Related Relief (the "Motion"); the Court having
reviewed the Motion; the Court finding that: (a) the Court has jurisdiction over
this matter pursuant to 28 U.S.C. Sections 157 and 1334; (b) this is a core
proceeding pursuant to 28 U.S.C. Section 157(b)(2); (c) due and proper notice of
the Motion has been given under the circumstances, and no other or further
notice is required; (d) assumption and assignment of the Ethylene Contracts (as
defined in the Motion) is allowable under section 365 of the Bankruptcy Code, is
a reasonable exercise of the business judgment of the Debtors, and is in the
best interests of the Debtors' estates and creditors, (e) the Debtor has
thoroughly marketed the Ethylene Contracts and conducted an auction at which
Qualified Bidders engaged in competitive bidding, (f) the Debtors, after
consultation with BCP Management, BCP Creditors' Committee and the BCPM
Creditors' Committee, have determined that Georgia Gulf

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Corporation ("GGC") has submitted the highest and best bid, (g) GGC has
submitted the highest and best bid, and has negotiated fairly and in good faith
and has provided adequate assurance of future performance under the Ethylene
Contracts and (h) the Court having determined that the legal and factual bases
set forth in the Motion establish just cause for the relief granted herein;

          IT IS HEREBY ORDERED THAT:

          1.   The Motion is GRANTED.

          2.   Capitalized terms used herein and not otherwise defined shall
have the meanings given to them in the Motion; the Notice by Debtors and Debtors
in Possession of: (A) Amended Bid Procedures Related to Potential Assumption and
Assignment of Certain Ethylene Contracts, (B) Hearing on same and (C) Amended
Opening Bid for Contracts [Docket No. 903] (the "Amended Notice of Bid
Procedures") and the Order Approving Bidding Procedures With Respect To Debtors'
Assumption and Assignment Of Certain Ethylene Contracts And Setting Cure Amount,
which was entered by the Bankruptcy Court on August 7, 2002 [Docket No. 921]
(the "Bid Procedures Order").

          3.   Pursuant to the terms and procedures set forth in the Motion, the
Bid Procedures Order and this Sale Order, the Cure Amount due and owing to Shell
is hereby determined to be as follows:

               a.   $3,367,335.10, representing a prepetition cure amount
                    arising from goods ("Product") delivered pursuant to
                    the Ethylene Contracts (the "Prepetition Cure");

               b.   $7,018,203.46, representing a postpetition cure amount
                    (the "Postpetition Cure") as of August 1, 2002.

          4.   Shell has timely filed objections [Docket Nos. 874, 913 and 947]
(the "Shell Objections") to the Motion. However, the Debtors and BCP Management,
Inc., together with their respective committees of unsecured creditors, have
agreed to the terms of a Stipulation

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and Order Relating to an Agreement by and Among Shell Oil Company, Shell
Chemical Company, Shell Chemical Capital Corporation and the Debtors Concerning
the Assumption and Assignment of Certain Ethylene Contracts (the "Stipulation"),
which, upon Court approval, will resolve the Shell Objections. This Order shall
not be effective until the entry of an Order approving the Stipulation. Until
the entry of such an Order, Shell reserves all of its rights to assert the Shell
Objections, except as determined in the Bid Procedures Order.

          5.   The Debtors are hereby authorized immediately to assume and
assign the Ethylene Contracts to GGC, pursuant to section 365 of the Bankruptcy
Code, under the terms set forth in the assumption and assignment agreement
attached hereto as Exhibit A (the "Assumption and Assignment Agreement") and
incorporated by reference as if fully set forth herein. GGC shall take the
Ethylene Contracts free and clear of all liens, claims and encumbrances of any
other party.

          6.   Within 3 days after the Approval Date (as defined in the
Assumption and Assignment Agreement) GGC is ordered to pay to the Debtors all
amounts owing to the Debtors pursuant to the terms of the Assumption and
Assignment Agreement amounting to $3.2 million. Within 3 days after the Approval
Date (as defined in the Assumption and Assignment Agreement) GGC is ordered to
pay to Shell the Prepetition Cure and the Postpetition Cure, the payment of
which shall cure all defaults under the Ethylene Contracts.

          7.   Upon execution of the Assumption and Assignment Agreement and
payment of the amounts set forth in paragraph 6, above, GGC shall be entitled to
delivery within a reasonable time of the product designated for delivery in
April, May, June and July 2002 under the Ethylene Contracts, that upon the
payment to Shell of the payment due in September, 2002, GGC will be entitled to
prompt delivery of product representing the product designated for

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delivery during August, 2002 under the Ethylene Contracts, and that deliveries
and payments thereafter shall occur as provided for under the Ethylene
Contracts. Provided, however, if the Order is not entered until September 8,
2002, the payment for the product designated for delivery during August 2002
under the Ethylene Contracts shall be due as an additional Cure Claim payable
within three (3) days after the Approval Date.

          8.   Upon assumption and assignment of the Ethylene Contracts, the
Ethylene Contracts shall be fully enforceable according to their terms as if no
default had occurred, and GGC and Shell will bound by all terms of the Ethylene
Contracts.

Dated:  August 19,  2002                          /s/ Peter J. Walsh
        Wilmington, Delaware                 ------------------------------
                                             UNITED STATES BANKRUPTCY JUDGE

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