Document:

Amendment No. 1 dated as of June 25, 2004 to Receivables Purchase Agreement

 Exhibit 4.8(a) 
  
 AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENT 
  
 AMENDMENT dated as of June 25, 2004 to the Receivables Purchase Agreement dated as of December 17, 2003 (the
“Receivables Agreement”) among EQUISTAR RECEIVABLES II, LLC, a Delaware limited liability company (the “Seller”), EQUISTAR CHEMICALS, LP, a Delaware limited partnership (the “Servicer”), the
PURCHASERS from time to time party thereto, CITICORP USA, INC., as co-asset agent and administrative agent for the Purchasers (the “Agent”), BANK ONE, NA, CREDIT SUISSE FIRST BOSTON, and JPMORGAN CHASE BANK, as co-documentations
agents, and BANK OF AMERICA, N.A., as co-asset agent. 
  
 The
parties hereto agree as follows: 
  
 SECTION 1.
Defined Terms; References. Unless otherwise specifically defined herein, each term used herein which is defined in the Receivables Agreement has the meaning assigned to such term in the Receivables Agreement. Each reference to
“hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Receivables Agreement shall,
after this Amendment becomes effective, refer to the Receivables Agreement as amended hereby. 
  
 SECTION 2. Amended Definition. The definition of “Eligible Receivable” is hereby amended by (i) deleting the words “Millennium or” in the first paragraph thereof, (ii)
deleting the words “their respective” in the first paragraph thereof and inserting the word “its” in the place thereof, (iii) deleting the words “Millennium or” in paragraph (c) thereof, and (iv) deleting the words
“their respective” in paragraph (c) thereof and inserting the word “its” in the place thereof. 
  
 SECTION 3. Representations of Seller and Servicer. Each of the Seller and the Servicer represent and warrant that (i) their
respective representations and warranties set forth in Article IV of the Receivables Agreement will be true in all material respects on and as of the Amendment Effective Date (as defined below) with the same effect as though made on and as of such
date, except to the extent such representations and warranties expressly relate to an earlier date and (ii) no Potential Event of Termination or Event of Termination will have occurred and be continuing on such date. 
  
 SECTION 4. Governing Law. This Amendment shall be
governed by and construed in accordance with the laws of the State of New York. 
  

 SECTION 5. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
 SECTION 6. Effectiveness. This Amendment shall become effective on the first date when, and simultaneously with the time upon which,
the following conditions are met (the “Amendment Effective Date”): 
  
 (a) the Agent shall have signed a counterpart hereof and shall have received counterparts hereof signed by each of the Purchasers, the Seller and the Servicer (or, in the case of any party as to which an executed
counterpart shall not have been received, the Agent shall have received in form satisfactory to it facsimile or other written confirmation from such party of execution of a counterpart hereof by such party); and 
  
 (b) Lyondell’s acquisition of Millennium shall have been consummated.

  
 Promptly after the Amendment Effective Date occurs, the Agent
shall notify the Seller, the Servicer, the Purchasers and the other Facility Agents thereof, and such notice shall be conclusive and binding on all parties hereto. 
  

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

			
	 CITICORP USA, INC.

		
	 By:
	 	/s/    DAVID JAFFE        
	 Name:
	 	David Jaffe
	 Title:
	 	Vice President
	
	 EQUISTAR RECEIVABLES II, LLC

		
	 By:
	 	/s/    KAREN A.
TWITCHELL        
	 Name:
	 	Karen A. Twitchell
	 Title:
	 	Vice President and Treasurer
	
	 EQUISTAR CHEMICALS, LP

		
	 By:
	 	/s/    KAREN A.
TWITCHELL        
	 Name:
	 	Karen A. Twitchell
	 Title:
	 	Principal Financial Officer
	
	 BANK OF AMERICA, N.A.

		
	 By:
	 	/s/    KEVIN R. KELLY        
	 Name:
	 	Kevin R. Kelly
	 Title:
	 	Senior Vice President

  

			
	 JPMorgan Chase Bank

		
	 By:
	 	/s/    STACEY L. HAIMES        
	 Name:
	 	Stacey L. Haimes
	 Title:
	 	Vice President
	
	 CREDIT SUISSE FIRST BOSTON,
ACTING THROUGH ITS CAYMAN
ISLANDS BRANCH

		
	 By:
	 	/s/    PETER CHAUVIN        
	 Name:
	 	Peter Chauvin
	 Title:
	 	Vice President
		
	 By:
	 	/s/    DAVID DODD        
	 Name:
	 	David Dodd
	 Title:
	 	Associate
	
	 Bank One, N.A.

		
	 By:
	 	/s/    J. DEVIN MOCK        
	 Name:
	 	J. Devin Mock
	 Title:
	 	Director
	
	 Congress Financial Corporation
(Southwest)

		
	 By:
	 	/s/    M. GALOVIC, JR.        
	 Name:
	 	M. Galovic, Jr.
	 Title:
	 	First Vice President
	
	 Merrill Lynch Capital, a Division of
Merrill Lynch Business Financial Services Inc.

		
	 By:
	 	/s/    JAMES M. BETZ        
	 Name:
	 	James M. Betz
	 Title:
	 	Vice President

  

			
	 Siemens Financial Services, Inc.

		
	 By:
	 	/s/    FRANK AMODIO        
	 Name:
	 	Frank Amodio
	 Title:
	 	Vice President-Credit
	
	 AmSouth Bank

		
	 By:
	 	/s/    BRUCE KASPER        
	 Name:
	 	Bruce Kasper
	 Title:
	 	Attorney-in-Fact
	
	 NATIONAL CITY BUSINESS CREDIT, INC.

		
	 By:
	 	/s/    MICHAEL S. FINE        
	 Name:
	 	Michael S. Fine
	 Title:
	 	Director
	
	 WELLS FARGO FOOTHILL, LLC

		
	 By:
	 	/s/    MIKE BARANOWSKI        
	 Name:
	 	Mike Baranowski
	 Title:
	 	Vice President
	
	 LOAN FUNDING, LLC, a wholly owned subsidiary of Citibank, N.A.

		
	 By:
	 	 TCW Advisors, Inc., as portfolio manager of
 Loan Funding I LLC

		
	 By:
	 	/s/    G. STEVEN KALIN        
	 Name:
	 	G. Steven Kalin
	 Title:
	 	Senior Vice President
		
	 By:
	 	/s/    JONATHAN R.
INSULL        
	 Name:
	 	Jonathan R. Insull
	 Title:
	 	Managing Director

  

			
	 The Bank of New York

		
	By:	 	/s/    RAYMOND J. PALMER        
	 Name:
	 	Raymond J. Palmer
	 Title:
	 	Vice President
	
	 LaSalle Business Credit, LLC

		
	By:	 	/s/    A. ROGER CRAIG,
JR        
	 Name:
	 	A. Roger Craig, Jr
	 Title:
	 	Vice President
	
	 General Electric Capital Corporation

		
	By:	 	/s/     ROBERT M. KADLICK
        
	 Name:
	 	Robert M. Kadlick
	 Title:
	 	Duly Authorized Signatory
	
	 UBS AG, Stamford Branch

		
	By:	 	/s/    WILFRED V. SAINT        
	 Name:
	 	Wilfred V. Saint
	 Title:
	 	Director
	 	 	Banking Products Services, US
		
	By:	 	/s/    SALTOZ SIKKA        
	 Name:
	 	Saltoz Sikka
	 Title:
	 	Associate Director
	 	 	Banking Products Services, US

  

			
	 GMAC Commercial Finance, LLC

		
	 By:
	 	/s/    ROBERT F.
MCINTYRE        
	 Name:
	 	Robert F. McIntyre
	 Title:
	 	Director
	
	 KZH CRESCENT-2 LLC

		
	 By:
	 	/s/    HI HUA        
	 Name:
	 	Hi Hua
	 Title:
	 	Authorized Agent
	
	 KZH CRESCENT-3 LLC

		
	 By:
	 	/s/    HI HUA        
	 Name:
	 	Hi Hua
	 Title:
	 	Authorized Agent
	
	 Webster Business Credit Corporation

		
	 By:
	 	/s/    CHRISTOPHER HILL        
	 Name:
	 	Christopher Hill
	 Title:
	 	Vice PresidentAmendment No. 1 to Undertaking Agreement

 Exhibit 4.9(a) 
  
 AMENDMENT NO. 1 TO UNDERTAKING AGREEMENT 
  
 AMENDMENT dated as of June 25, 2004 to the Undertaking Agreement dated as of December 17, 2003 (the “Undertaking
Agreement”) by EQUISTAR CHEMICALS, LP, a Delaware limited partnership (“Equistar”), in favor of the PURCHASERS (as defined in the Receivables Purchase Agreement dated as of December 17, 2003 (the “Receivables
Agreement”) among Equistar Receivables II, LLC, as Seller, Equistar, as Servicer, the Purchasers from time to time party thereto, Bank One NA, Credit Suisse First Boston and JPMorgan Chase Bank, as co-documentation agents, Bank of America,
N.A. and Citicorp USA, Inc., as co-asset agents, and Citicorp USA, Inc., as administrative agent (the “Agent”) for the Purchasers) and CITICORP USA, INC., as Agent. 
  
 The parties hereto agree as follows: 
  
 SECTION 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used
herein which is defined in the Undertaking Agreement, or incorporated by reference therein, has the meaning assigned to such term in the Undertaking Agreement or so incorporated. Each reference to “hereof”, “hereunder”,
“herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Undertaking Agreement shall, after this Amendment becomes effective, refer
to the Undertaking Agreement as amended hereby. 
  
 SECTION 2. Amended Definition. The definition of “EBITDA” in Section 1.01(b) of the Undertaking Agreement is hereby amended by (i) deleting the word “and” at the end of clause (x)(i) thereof and
inserting a comma in place thereof and (ii) inserting the phrase “and (iii) non-cash compensation expense (including deferred compensation expense), determined on a consolidated basis” at the end of clause (x)(ii) thereof. 
  
 SECTION 3. Representations of Equistar. Equistar
represents and warrants that (i) the representations and warranties of Equistar set forth in Article 2 of the Undertaking Agreement and Article IV of the Receivables Agreement will be true in all material respects on and as of the Amendment
Effective Date (as defined below) with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date and (ii) no Potential Event of Termination or Event of
Termination will have occurred and be continuing on such date. 
  

 SECTION 5. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York. 
  
 SECTION 6. Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

  
 SECTION 7. Effectiveness. This Amendment
shall become effective on the first date when, and simultaneously with the time upon which, the Agent shall have received counterparts hereof signed by each of the Required Purchasers and Equistar (or, in the case of any party as to which an
executed counterpart shall not have been received, the Agent shall have received in form satisfactory to it facsimile or other written confirmation from such party of execution of a counterpart hereof by such party) (the “Amendment Effective
Date”). Promptly after the Amendment Effective Date occurs, the Agent shall notify Equistar and the Purchasers thereof, and such notice shall be conclusive and binding on all parties hereto. 
  

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

			
	 EQUISTAR CHEMICALS, LP

		
	By:	 	/s/    KAREN A.
TWITCHELL        
	 Name:
	 	Karen A. Twitchell
	 Title:
	 	Principal Financial Officer
	
	 Citicorp USA, Inc.

		
	By:	 	/s/    DAVID JAFFE        
	 Name:
	 	David Jaffe
	 Title:
	 	Vice President
	
	 BANK OF AMERICA, N.A.

		
	By:	 	/s/    KEVIN R. KELLY        
	 Name:
	 	Kevin R. Kelly
	 Title:
	 	Senior Vice President
	
	 JPMorgan Chase Bank

		
	By:	 	/s/    STACEY L. HAIMES        
	 Name:
	 	Stacey L. Haimes
	 Title:
	 	Vice President
	
	 CREDIT SUISSE FIRST BOSTON,
ACTING THROUGH ITS CAYMAN
ISLANDS BRANCH

		
	By:	 	/s/    DAVID DODD        
	 Name:
	 	David Dodd
	 Title:
	 	Associate

  

			
	 Bank One, N.A.

		
	By:	 	/S/    J. DEVIN
MOCK        
	 Name:
	 	J. Devin Mock
	 Title:
	 	Director
	
	 Congress Financial Corporation
(Southwest)

		
	By:	 	/S/    KENNETH
SEPP        
	 Name:
	 	Kenneth Sepp
	 Title:
	 	Senior Vice President
	
	 Siemens Financial Services Inc.

		
	By:	 	/S/    FRANK
AMODIO        
	 Name:
	 	Frank Amodio
	 Title:
	 	Vice President - Credit
	
	 AmSouth Bank

		
	By:	 	/S/    BRUCE
KASPER        
	 Name:
	 	Bruce Kasper
	 Title:
	 	Attorney-in-Fact
	
	 NATIONAL CITY BUSINESS CREDIT, INC.

		
	By:	 	/S/    MICHAEL S.
FINE        
	 Name:
	 	Michael S. Fine
	 Title:
	 	Director

  

			
	
	 WELLS FARGO FOOTHILL, LLC

		
	By:	 	/S/    MIKE
BARANOWSKI        
	 Name:
	 	Mike Baranowski
	 Title:
	 	Vice President
	
	 The Bank of New York

		
	By:	 	/S/    RAYMOND J.
PALMER        
	 Name:
	 	Raymond J. Palmer
	 Title:
	 	Vice President
	
	 LaSalle Business Credit, LLC

		
	By:	 	/S/    A. ROGER CRAIG,
JR.        
	 Name:
	 	A. Roger Craig, Jr.
	 Title:
	 	Vice President
	
	 General Electric Capital Corporation

		
	By:	 	/S/    ROBERT M.
KADLICK        
	 Name:
	 	Robert M. Kadlick
	 Title:
	 	Duly Authorized Signatory
	
	 UBS AG, Stamford Branch

		
	By:	 	/S/    WILFRED V.
SAINT        
	 Name:
	 	Wilfred V. Saint
	 Title:
	 	Director
	 	 	Banking Products Services, US
	
	 
		
	By:	 	/S/    SALTOZ
SIKKA        
	 Name:
	 	Saltoz Sikka
	 Title:
	 	Associate Director
	 	 	Banking Products Services, US
	
	 Webster Business Credit Corp.

		
	By:	 	/S/    CHRISTOPHER
HILL        
	 Name:
	 	Christopher Hill
	 Title:
	 	Vice President

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