Corporate Commercial Paper Master Note dated March 1, 2012



 Exhibit 4.1 
 The Depository Trust Company 
 A subsidiary of The Depository
Trust & Clearing Corporation 
 CORPORATE COMMERCIAL PAPER – MASTER NOTE 

 

			
		 	 March 1, 2012

		 	(Date of Issuance)


 Piedmont Natural Gas Company, Inc. (“Issuer”), for value received, hereby promises to pay to
Cede & Co., as nominee of The Depository Trust Company, or to registered assigns: (i) the principal amount, together with unpaid accrued interest thereon, if any, on the maturity date of each obligation identified on the records of
Issuer (the “Underlying Records”) as being evidenced by this Master Note, which Underlying Records are maintained by U.S. Bank National Association (“Paying Agent”); (ii) interest on the principal amount of each such
obligation that is payable in installments, if any, on the due date of each installment, as specified on the Underlying Records; and (iii) the principal amount of each such obligation that is payable in installments, if any, on the due date of
each installment, as specified on the Underlying Records. Interest shall be calculated at the rate and according to the calculation convention specified on the Underlying Records. Payments shall me made by wire transfer to the registered owner from
Paying Agent without the necessity of presentation and surrender of this Master Note. 
 REFERENCE IS HEREBY MADE TO THE FURTHER
PROVISIONS OF THIS MASTER NOTE SET FORTH ON THE REVERSE HEREOF. 
 This Master Note is a valid and binding obligation of Issuer.

 Not Valid Unless Countersigned for Authentication by Paying Agent. 

 

							
		 	 U.S. Bank National Association
	  		  	 Piedmont Natural Gas Company, Inc.

		 	(Paying Agent)	  		  	(Issuer)
				
	By:	 	 /s/ Millie Rolla
	  	By:	  	 /s/ Robert O. Pritchard

		 	(Authorized Countersignature)	  		  	(Authorized Signature)
		 		  		  	
		 		  		  	  

		 		  		  	(Guarantor)
				
		 		  	By:	  	  

		 		  		  	(Authorized Signature)

  
 



 







 At the request of the registered owner, Issuer shall promptly issue and deliver one or more separate note
certificates evidencing each obligation evidenced by this Master Note. As of the date any such note certificate or certificates are issued, the obligations which are evidenced thereby shall not longer be evidenced by this Master Note. 

 
  

 
 FOR VALUE RECEIVED, the undersigned hereby
sells, assigns, and transfers unto 
   

 
 (Name, Address, and Taxpayer
Identification Number of Assignee) 
 the Master Note and all rights thereunder, hereby irrevocably constituting and appointing
                                 attorney to transfer said Master Note on the
books of Issuer with full power of substitution in the premises. 
  

			
	Dated:	  	  

	Signature(s) Guaranteed:	  	(Signature)
		
		  	Notice: The signature on this assignment must correspond with the name as written upon the face of this Master Note, in every particular, without alteration or enlargement or any
change whatsoever.

  
  

 
 Unless this certificate is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to Issuer or its agent for registration of transfer, exchange, or payment, and any certificate 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.