Document:

Second Supplemental Indenture

 Exhibit 4.28 
  
 SECOND SUPPLEMENTAL INDENTURE, dated as of December 23, 2005 (this “Second Supplemental
Indenture”), is by and among Hexion U.S. Finance Corp. (formerly known as Borden U.S. Finance Corp., and as successor to BCI US Finance Corp.), a Delaware corporation (“Hexion U.S.”), Hexion Nova Scotia Finance, ULC
(formerly known as Borden Nova Scotia Finance, ULC, and as successor to Borden 2 Nova Scotia Finance, ULC), a Nova Scotia unlimited liability company (“Hexion Nova Scotia”, and together with Hexion U.S., the
“Issuers”), Hexion Specialty Chemicals, Inc. (formerly known as Borden Chemical, Inc. or its permitted successor), a New Jersey corporation (“Holdings”), Hexion CI Holding Company (China) LLC, a Delaware limited
liability company and an indirect subsidiary of Holdings (the “Additional Subsidiary Guarantor”) and Wilmington Trust Company, as trustee (the “Trustee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Issuers, Holdings and the Trustee are parties to an
indenture dated as of May 20, 2005 (as amended by the First Supplemental Indenture dated as of May 31, 2005, the “Indenture”), providing for the issuance of the Issuers’ Second-Priority Senior Secured Floating Rate
Notes due 2010 (the “Notes”); 
  
 WHEREAS,
pursuant to Section 4.11 and 10.06 of the Indenture, Holdings has agreed to cause the Additional Subsidiary Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which such Additional Subsidiary Guarantor will
Guarantee payment on the Notes on the terms set forth in the Indenture; and 
  
 WHEREAS, pursuant to Section 9.01(iv) of the Indenture, the Trustee and the Issuers are authorized to execute and deliver this Second Supplemental Indenture. 
  
 NOW, THEREFORE, in consideration of the foregoing and for good and
valuable consideration, the receipt of which is hereby acknowledged, the Issuers, the Additional Subsidiary Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

 
 1. Capitalized Terms. Capitalized terms used herein but not
defined shall have the meanings assigned to them in the Indenture. 
  
 2. Guarantees. The Additional Subsidiary Guarantor hereby agrees, jointly and severally with all other Guarantors, to guarantee the Issuers’ obligations under the Notes on the terms and subject to the conditions set forth in
Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture (including Article 11). 
  
 3. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects
ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Second Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or
hereafter authenticated and delivered shall be bound hereby. 
  
 4. Notices. For purposes of the Indenture, the address for notices to Hexion U.S., Hexion Nova Scotia and the Additional Subsidiary Guarantor shall be the address for the Issuers and Guarantors set forth in Section 13.02 of the
Indenture. 

 5. Governing Law. THIS SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 6.
Counterparts. The parties may sign any number of copies of this Second Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
  
 7. Effect of Headings. The section headings herein are for convenience
only and shall not affect the construction hereof. 
  
 8. The
Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Second Supplemental Indenture for or in respect of the recitals contained herein, all of which are made solely by
Hexion U.S., Hexion Nova Scotia and the Additional Subsidiary Guarantor. The Trustee makes no representation as to the validity or sufficiency of this Second Supplemental Indenture. Except as otherwise expressly provided herein, no duties,
responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Second Supplemental Indenture. This Second Supplemental Indenture is executed and accepted by the Trustee subject to all the terms and
conditions set forth in the Indenture with the same force and effect as if those terms and conditions were repeated at length herein and made applicable to the Trustee with respect hereto. In entering into this Second Supplemental Indenture, the
Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided. 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

					
	ISSUERS
	
	HEXION U.S. FINANCE CORP.
	
	HEXION NOVA SCOTIA FINANCE, ULC
		
	By:	 	 /s/ George F. Knight

	 	 	Name:	 	George F. Knight
	 	 	Title:	 	Vice President
	
	HOLDINGS
	
	HEXION SPECIALTY CHEMICALS, INC.
		
	By:	 	 /s/ George F. Knight

	 	 	Name:	 	William H. Carter
	 	 	Title:	 	Vice President
	
	SUBSIDIARY GUARANTOR
	
	 HEXION CI HOLDING COMPANY
 (CHINA)
LLC

		
	By:	 	 /s/ George F. Knight

	 	 	Name:	 	George F. Knight
	 	 	Title:	 	Vice President

  

			
	 Second Supplemental Indenture
	 	 S-1

	 to Borden May 2005 Indenture
	 	 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	TRUSTEE
	
	 WILMINGTON TRUST COMPANY, as
 Trustee

		
	By:	 	 /s/ Mary St. Amand

	Name:	 	Mary St. Amand
	Title:	 	 Assistant Vice President

  

			
	 Second Supplemental Indenture
	 	 S-2

	 to Borden May 2005 IndentureThird Supplemental Indenture

 Exhibit 4.29 
  
 THIRD SUPPLEMENTAL INDENTURE, dated as of December 23, 2005 (this
“Third Supplemental Indenture”), by and between Hexion Specialty Chemicals, Inc. (formerly known as Borden Chemical, Inc. and as successor to Resolution Performance Products Corp. (formerly known as Resolution Performance
Products LLC)), a New Jersey corporation (“Hexion”), HSC Capital Corporation (formerly known as RPP Capital Corporation), a Delaware corporation (“HSC Capital” and, together with Hexion, the
“Issuers”), Hexion CI Holding Company (China) LLC, a Delaware limited liability company (the “New Guarantor”), and The Bank of New York (as successor in interest to the corporate trust business of United States
Trust Company of New York), as Trustee (the “Trustee”) under the Indenture (as defined below). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Issuers and the Trustee have entered into that certain Indenture dated as of November 14, 2000 (as amended by the First Supplemental Indenture dated as of May 31, 2005 and the Second Supplemental
Indenture dated as of May 31, 2005, the “Indenture”) providing for the issuance of 13 1/2%
Senior Subordinated Notes due 2010 (the “Securities”); 
  
 WHEREAS, Section 4.21 of the Indenture provides that if Hexion organizes or acquires any Domestic Restricted Subsidiary after the Issue Date, under certain circumstances, Hexion shall, among other things, (i)
execute and deliver to the Trustee a supplemental indenture pursuant to which such New Domestic Restricted Subsidiary shall unconditionally guarantee all of Hexion’s obligations under the Securities and the Indenture and (ii) cause such New
Domestic Restricted Subsidiary to promptly execute and deliver to the Trustee a Subsidiary Guarantee; 
  
 WHEREAS, the New Guarantor is a Domestic Restricted Subsidiary of Hexion that was not previously required to become a Guarantor under the Indenture
prior to the date hereof, but which is required to become a Guarantor under the Indenture on the date hereof; 
  
 WHEREAS, pursuant to Section 9.1 of the Indenture, the Trustee and the Issuers are authorized to execute and deliver this Third Supplemental
Indenture; and 
  
 NOW, THEREFORE, in consideration of the
foregoing and for good and valuable consideration, the receipt of which is hereby acknowledged, the Issuers, Hexion, the New Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as
follows: 
  
 ARTICLE I 
 GUARANTEES 
  
 1.1 Guarantees by the New Guarantor 
  
 The New Guarantor hereby agrees, jointly and severally with all other Guarantors, to unconditionally guarantee on a senior subordinated basis all of the
Issuers’ obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in Article XI of the Indenture and to be bound by all other applicable provisions of the Indenture (including Article XII).

  

 1 

 ARTICLE II 
 MISCELLANEOUS 
  
 2.1 Ratification of Indenture; Third Supplemental Indenture Part of Indenture 
  
 Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions
and provisions thereof shall remain in full force and effect. This Third Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Securities heretofore or hereafter authenticated and delivered shall be bound
hereby. 
  
 2.2 Severability 
  
 In case any provision in this Third Supplemental Indenture shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 2.3 Capitalized Terms 
  
 Capitalized terms used herein but not defined shall have the meanings assigned to them in the Indenture. 
  
 2.4 Effect of Headings 
  
 The Article and Section headings of herein are for convenience only and
shall not effect the construction of this Third Supplemental Indenture. 
  
 2.5
Trustee Makes No Representations 
  
 The Trustee makes
no representation as to the validity or sufficiency of this Third Supplemental Indenture. 
  
 2.6 Certain Duties and Responsibilities of the Trustee 
  
 In entering into this Third Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the Indenture relating to the
conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided. 
  
 2.7 Governing Law 
  
 THIS THIRD SUPPLEMENTAL INDENTURE, THE SECURITIES AND THE SUBSIDIARY GUARANTEES WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. Each of the parties hereto agrees to submit to the jurisdiction of the courts of the State of New York in any
action or proceeding arising out of, or relating to, this Third Supplemental Indenture, the Securities or the Subsidiary Guarantees. 
  

 2 

 2.8 Counterparts 
  
 The parties may sign any number of copies of this Third Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent one and the same agreement. 
  
 [signature page follows] 
  

 3 

 IN WITNESS WHEREOF, the parties have caused this Third Supplemental Indenture to be duly executed
as of the date first above written. 
  

					
	 ISSUERS

	
	 HEXION SPECIALTY CHEMICALS, INC.

		
	 By:
	 	 /s/ George F. Knight

	 	 	 Name:
	 	 George F. Knight

	 	 	 Title:
	 	 Vice President

	
	 HSC CAPITAL CORPORATION

		
	 By:
	 	 /s/ George F. Knight

	 	 	 Name:
	 	 George F. Knight

	 	 	 Title:
	 	 Vice President

	
	 NEW GUARANTOR

	
	HEXION CI HOLDING COMPANY (CHINA) LLC
		
	 By:
	 	 /s/ George F. Knight

	 	 	 Name:
	 	 George F. Knight

	 	 	 Title:
	 	 Vice President

					
	 Third Supplemental Indenture
	  	4	  	 

 to RPP November 2000 Indenture 

					
	 TRUSTEE

	
	 THE BANK OF NEW YORK, as trustee

		
	 By:
	 	 /S/ MARY LAGUMINA

	 	 	 Name:
	 	 Mary LaGumina

	 	 	 Title:
	 	 Vice President

					
	 Third Supplemental Indenture
 to RPP November 2000 Indenture
	  	5

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