Form of Security of Chevron Canada Funding Company



 Exhibit 4.8 
  

			
	$	  	CUSIP

 CHEVRON CANADA FUNDING COMPANY 
 _.__% GUARANTEED [NOTE/DEBENTURE] DUE ____ 
 Unless this [Note/Debenture] is presented by an
authorized representative of The Depository Trust Company, a New York Corporation (“DTC”), to Chevron Canada Funding Company or its agent for registration of transfer, exchange or payment and any [Note/Debenture] issued is registered in
the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co., or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 CHEVRON CANADA FUNDING COMPANY (herein referred to as the “Company”), an unlimited liability company organized and existing under the laws of
Nova Scotia, Canada, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of ___ Million Dollars ($        ,000,000) on ________, ____ in lawful
money of the United States of America and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from ________, ____ or from the most recent Interest Payment Date (hereinafter defined) to which
interest has been paid or duly provided for until payment of such principal sum, at the rate of _.__% per annum, payable on each _______ and _______, commencing ________, ____ (the “Interest Payment Dates”). 
 The principal hereof is payable upon presentation and surrender of this [Note/Debenture] at the principal office of ___________, as Trustee (herein
called the “Trustee”), in New York, New York. Interest on this [Note/Debenture] may be payable by check or draft mailed to the person in whose name this [Note/Debenture] is registered at the close of business on the Record Date for such
interest payment at such person’s address as it appears on the registration books of the Trustee. The Record Date for the [Note/Debenture]s is the date which is 15 days prior to the relevant Interest Payment Date. 
 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT
AS IF FULLY SET FORTH AT THIS PLACE. 
 This [Note/Debenture] shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 
 IN WITNESS WHEREOF, CHEVRON CANADA FUNDING COMPANY has caused this [Note/Debenture] to be signed by its Assistant Treasurer manually or in facsimile and
its corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
  

			
	CHEVRON CANADA FUNDING COMPANY
		
	By:	 	  


 Attest: _______________________________________ 
 Dated: ________, ____ 
  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Securities, of the Series designated
 herein, described in the within-mentioned Indenture.

	
	 ___________, as Trustee

		
	By:	 	  
		 	Authorized Officer








 CHEVRON CANADA FUNDING COMPANY 
 _.__% GUARANTEED NOTE DUE ____ 
 This [Note/Debenture] is one of a duly authorized
issue of securities of the Company, not limited in aggregate principal amount, all issued or to be issued in one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of July 15, 2002, [as
amended by____] (such indenture as so amended being herein referred to as the “Indenture”) each being among the Company, Chevron Corporation, a Delaware corporation (“Chevron”), as guarantor, and the Trustee. This
[Note/Debenture] is one of a series of [Note/Debenture]s designated as its “_.__% Guaranteed [Note/Debenture]s Due ____” aggregating $        ,000,000 in principal amount (herein called the
“[Note/Debenture]s”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the
rights, obligations, duties and immunities thereunder of the Company, Chevron, the Trustee and the holders of the [Note/Debenture]s, to all of the provisions of which Indenture the registered owner of this [Note/Debenture], by acceptance hereof,
assents and agrees. The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any
security or securities of the Company, authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such
supplemental indenture shall, without the consent of the holder of each Outstanding Security (including the [Note/Debenture]s) affected thereby: (1) change the fixed maturity or redemption date of any [Note/Debenture], or reduce the rate of
interest on any [Note/Debenture] or the method of determining such rate of interest or extend the time of payment of interest, or reduce the principal amount thereof, or reduce any premium payable on the redemption thereof, or change the coin or
currency in which the [Note/Debenture]s or the interest thereon is payable or impair the right to institute suit for the enforcement of any such payment on or after the maturity thereof, (2) reduce the aforesaid percentage of holders of the
Outstanding Securities whose consent is required for the execution of such supplemental indenture, or the consent of the holders of which is required for any waiver provided for in the Indenture or (3) change the time of payment. It is also
provided in the Indenture that the holders of a majority in principal amount of the [Note/Debenture]s may waive (a) compliance by Chevron with the covenants contained in Article Four of the Indenture with respect to the [Note/Debenture]s and
(b) any past or existing Event of Default with respect to the [Note/Debenture]s and its consequences except a continuing default in the payment of the principal of or interest on the [Note/Debenture]s or in respect of a covenant or provision of
the Indenture which cannot be modified or amended without the consent of the registered owner of the [Note/Debenture] so affected. 
 Under
the terms of the Indenture, Chevron unconditionally guarantees to the holders from time to time of the [Note/Debenture]s: (a) the full and prompt payment of the principal of the [Note/Debenture]s when and as the same shall become due and
(b) the full and prompt payment of the interest on the [Note/Debenture]s when the same shall become due. No reference herein to the Indenture and no provisions of this [Note/Debenture] or of the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of and any interest on this [Note/Debenture] at the place, at the respective times, at the rate and in the currency herein prescribed, nor shall any such reference alter or
impair the obligation of Chevron to unconditionally guarantee to the holders from time to time of the [Note/Debenture]s the payment of principal of and interest on the [Note/Debenture]s. 
 The [Note/Debenture]s shall be subject to redemption at the option of the Company as a whole or in part, on or after ________, ____ at a redemption price
equal to ________________. As provided in the Indenture, notice of redemption shall be given to the registered owners of [Note/Debenture]s to be redeemed by mailing a notice of such redemption not less than 30 nor more than 60 days prior to the date
fixed for redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as that term is defined in the
Indenture) shall occur, the principal of all [Note/Debenture]s and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain
events such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the [Note/Debenture]s then Outstanding. 
 The [Note/Debenture]s are issuable in registered form in denominations of $1,000 and any integral multiple thereof. [Note/Debenture]s may be exchanged for a like aggregate amount of [Note/Debenture]s of other
authorized denominations as provided in the Indenture. This [Note/Debenture] is transferable at the office of the Trustee in New York, New York by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in
writing, on the books of the Company at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this [Note/Debenture]. Upon such transfer a new
fully registered [Note/Debenture] or [Note/Debenture]s of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 
 The Company, Chevron, the Trustee and any agent of the Company, Chevron or the Trustee and any paying agent may treat the registered owner hereof as the
absolute owner of this [Note/Debenture] (whether or not this [Note/Debenture] shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than the Company, Chevron or the Trustee) for the purpose of
receiving payment hereof or on account hereof and for all other purposes, and none of the Company, Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 
 THIS NOTE AND THE OBLIGATIONS OF THE COMPANY AND CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the interest on this [Note/Debenture] or for any claim
based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or Chevron
or of any successor of the Company or Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issue hereof, expressly waived and released.