Document:

EX-4.1

 Exhibit 4.1 

THE PROGRESSIVE CORPORATION 
 and

 U.S. BANK NATIONAL ASSOCIATION, as 

Trustee 
 EIGHTH SUPPLEMENTAL
INDENTURE 
 3.70% Senior Notes due 2045 

THIS EIGHTH SUPPLEMENTAL INDENTURE, dated as of January 26, 2015, between THE PROGRESSIVE CORPORATION, an Ohio corporation (the
“Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (“U.S. Bank”), in its capacity as Trustee. 

W I T N E S S E T H: 
 WHEREAS,
the Issuer entered into an Indenture dated as of September 15, 1993 (as supplemented from time to time, the “Indenture”), with the First National Bank of Boston, in its capacity as Trustee, pursuant to which the Issuer may from time
to time issue its unsecured debentures, notes and other evidences of indebtedness in one or more series; and 
 WHEREAS, the Issuer entered
into a First Supplemental Indenture dated as of March 15, 1996, confirming the succession of State Street Bank and Trust Company, a Massachusetts trust company, as trustee under the Indenture; and 

WHEREAS, the Issuer entered into a Second Supplemental Indenture dated as of February 26, 1999; and 

WHEREAS, the Issuer entered into a Third Supplemental Indenture dated as of December 7, 2001; and 

WHEREAS, the Issuer entered into a Fourth Supplemental Indenture dated as of November 21, 2002; and 

WHEREAS, the Issuer entered into a Fifth Supplemental Indenture dated as of June 13, 2007 confirming the succession of U.S. Bank, as
trustee under the Indenture; and 
 WHEREAS, the Issuer entered into a Sixth Supplemental Indenture dated as of August 22, 2011; 

WHEREAS, the Issuer entered into a Seventh Supplemental Indenture dated as of April 25, 2014; and 

WHEREAS, Article Eight of the Indenture provides for various matters with respect to any series of Securities issued under the Indenture
to be established in an indenture supplemental to the Indenture; and 
 WHEREAS, Section 8.1(c) of the Indenture provides that the
Issuer, when authorized by its Board of Directors, and the Trustee may from time to time and at any time enter into an indenture supplemental to the Indenture to add on to the covenants of the Issuer certain further covenants, restrictions,
conditions or provisions. 
 NOW THEREFORE: 

In consideration of the premises and other good and valuable consideration, the parties hereto mutually covenant and agree as follows: 

 ARTICLE 1 

RELATION TO INDENTURE; DEFINITIONS 

SECTION 1.01. Integral Part. This Eighth Supplemental Indenture constitutes an integral part of the Indenture. 

SECTION 1.02. General Definitions. For all purposes of this Eighth Supplemental Indenture: 

(a) capitalized terms used herein without definition shall have the meanings specified in the Indenture; 

(b) all references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this
Eighth Supplemental Indenture; and 
 (c) the terms “herein”, “hereof”, “hereunder” and other words of similar
import refer to this Eighth Supplemental Indenture. 
 SECTION 1.03. Definitions. The following definitions shall apply to this
Eighth Supplemental Indenture: 
 “Consolidated Tangible Net Worth” means, at any date, the total assets appearing on the
consolidated balance sheet of the Issuer and its consolidated subsidiaries as of the end of the then most recent fiscal quarter of the Issuer, prepared in accordance with generally accepted accounting principles, less the sum of (a) the total
liabilities appearing on such balance sheet and (b) intangible assets. “Intangible assets” means, for the purposes of this definition, the value, as shown on or reflected in such balance sheet, of (i) all trade names, trademarks,
licenses, patents, copyrights and goodwill, (ii) organizational costs and (iii) unamortized debt discount and expense, less unamortized premium. 

“Designated Securities” means the series of Securities designated by the Issuer as its “3.70% Senior Notes due 2045.” 

“Designated Subsidiary” means (i) Progressive Casualty Insurance Company, an Ohio corporation, so long as it remains a
subsidiary of the Issuer, (ii) any other consolidated subsidiary of the Issuer, the assets of which constitute 10% or more of the Total Assets, and (iii) any subsidiary that is a successor to all or substantially all of the business or
properties of any such subsidiary. 
 “Depositary” shall have the meaning specified in Section 4.01. 

“DTC” shall have the meaning specified in Section 4.01. 

“Global Security” or “Securities” shall have the meaning specified in Section 4.01. 

“Total Assets” means, at any date, the total assets appearing on the consolidated balance sheet of the Issuer and its consolidated
subsidiaries as of the end of the then most recent fiscal quarter of the Issuer, prepared in accordance with generally accepted accounting principles. 

ARTICLE 2 
 ADDITIONAL COVENANTS

 SECTION 2.01. Limitation on Liens. The Issuer will not, nor will it permit any Designated Subsidiary to, incur, issue, assume or
guarantee any indebtedness for money borrowed if (i) that indebtedness is secured by a pledge, mortgage, deed of trust or other lien on any shares of stock or indebtedness of any Designated Subsidiary (a “lien”), and (ii) the
aggregate amount of the indebtedness so secured exceeds an amount equal to 15% of the Issuer’s Consolidated Tangible Net Worth, unless the Designated Securities are also secured equally and ratably with such other indebtedness. For purposes of
this restriction, a “lien” will not include the pledge to, or deposit with, any state or provincial insurance regulatory authorities of any investment securities by the Issuer or any of its subsidiaries. 

  
 2 

 The foregoing restriction shall not apply to indebtedness secured by: 

(a) Liens on any shares of stock or indebtedness of or acquired from a corporation merged or consolidated with or into, or otherwise acquired
by, the Issuer or a Designated Subsidiary; 
 (b) Liens to secure indebtedness of a Designated Subsidiary to the Issuer or to another
Designated Subsidiary, but only as long as such indebtedness is owned or held by the Issuer or a Designated Subsidiary; and 
 (c) Any
extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any lien referred to in (a) and (b). 

SECTION 2.02. Consolidation, Merger, Sale, Conveyance and Lease. Clause (ii) of Section 9.1 of the Indenture is, with
respect to the Designated Securities, amended to read as follows: 
 “(ii) immediately after giving effect to the transaction, no Event
of Default exists.” 
 ARTICLE 3 

REOPENING OF THE SERIES 
 SECTION
3.01. Reopening of the Series. The Issuer may at any time, without the consent of the holders of the Designated Securities, increase the principal amount of the Designated Securities. 

ARTICLE 4 
 GLOBAL SECURITIES 

SECTION 4.01. Global Securities. The Designated Securities shall be issued in the form of one or more global securities (“Global
Securities”), which shall be deposited on behalf of the purchasers of the Designated Securities represented thereby with U.S. Bank National Association, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust
Company (“DTC”, and such depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of DTC’s nominee, Cede & Co. (or any successor thereto), for the accounts
of participants in the Depositary. 
 SECTION 4.02. General. Each Global Security shall represent such portion of the outstanding
Designated Securities as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Designated Securities from time to time endorsed thereon. 

The Trustee and any agent thereof shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered Holder of any
Global Security for all purposes of the Indenture relating to such Global Security (including the payment of principal and interest and the giving of instructions or directions by or to the owner or Holder of a beneficial ownership interest in such
Global Security) as the sole Holder of such Global Security and shall have no obligations to the beneficial owners thereof. None of the Trustee or any agent shall have any responsibility or liability for any acts or omissions of the Depositary with
respect to such Global Security, for the records of any such Depositary, including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary and any members of, or
participants, in the Depositary (“Agent Members”) or between or among the Depositary, any such Agent Member and/or any Holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any
such Global Security. Notwithstanding the foregoing, nothing herein shall (1) prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or (2) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. Subject to the foregoing, the registered Holder may grant
proxies and otherwise authorize any Person to take any action which a Holder is entitled to take under the Indenture or the Designated Securities in accordance with the rules and procedures of such Depositary. 

  
 3 

 SECTION 4.03. Book Entry Provisions. Each Global Security shall bear a legend
substantially to the following effect: 
 “Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and such certificate is registered in the name of Cede & Co., or in such other name as 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.” 

A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof,
and no such transfer to any such other Person may be registered; provided that the foregoing shall not prohibit any transfer of a Designated Security that is issued in exchange for a Global Security but is not itself a Global Security. 

A Global Security shall not be exchanged in whole or in part for a Designated Security registered, and no transfer of a Global Security in
whole or in part shall be registered, in the name of any Person other than the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Designated Securities registered in the names of any person
designated by the Depositary in the event that (A) the Depositary has notified the Issuer that it is unwilling or unable to continue as Depositary for such Global Security or such Depositary has ceased to be a “clearing agency”
registered under the Exchange Act, and in either case, a successor Depositary is not appointed by the Issuer within 90 days after receiving such notice or becoming aware that the Depositary has ceased to be a “clearing agency” or
(B) the Issuer determines in its sole discretion to issue Designated Notes in exchange for a Global Security. Any Global Security exchanged pursuant to the preceding sentence shall be so exchanged as directed by the Depositary. Any Designated
Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided, however, that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee
thereof shall not be a Global Security. 
 Designated Securities issued in exchange for a Global Security or any portion thereof that are
not issued as a Global Security shall be issued in definitive, fully registered form, without interest coupons, shall have a principal amount equal to that of such Global Security or portion thereof to be so exchanged and shall be registered in such
names and be in such authorized denominations as the Depositary shall designate. 
 ARTICLE 5 

MISCELLANEOUS PROVISIONS 
 SECTION
5.01. Applicability of this Eighth Supplemental Indenture. The provisions of this Eighth Supplemental Indenture will be applicable solely to the Designated Securities. 

SECTION 5.02. Adoption, Ratification and Confirmation. The Indenture, as supplemented by this Eighth Supplemental Indenture, is in all
respects hereby adopted, ratified and confirmed. 
 SECTION 5.03. Counterparts. This Eighth Supplemental Indenture may be executed in
any number of counterparts, each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 

SECTION 5.04. Governing Law. This Eighth Supplemental Indenture shall be governed by and construed in accordance with the laws of the
state of New York. 
 SECTION 5.05. Trustee Makes No Representation. The Trustee makes no representation as to the validity or
sufficiency of this Eighth Supplemental Indenture. The recitals contained herein are made by the Issuer and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Eighth Supplemental Indenture to be duly
executed as of the day and year first written above. 
  

			
	THE PROGRESSIVE CORPORATION
		
	By:	 	  

		 	 Name: Brian C. Domeck
 Title: Vice
President

  

			
	Attest
		
	By:	 	  

		 	Name: Charles E. Jarrett
		 	Title: Secretary

  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Name: Steven Gomes
		 	Title:   Vice President

  

			
	STATE OF OHIO	  	) ss:
		
	COUNTY OF CUYAHOGA	  	)

 On this          day of January, 2015, before me personally came Brian
C. Domeck, to me personally known, who, being by me duly sworn, did depose and say that he is an officer of THE PROGRESSIVE CORPORATION, one of the corporations described in and which executed the above instrument; that he knows the corporate seal
of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that he signed his name thereto by like authority. 

 

			
		  	 Notary Public
 My commission
expires:

		
	 [Notarial Seal]
	  	
		
	COMMONWEALTH OF MASSACHUSETTS	  	) ss:
		
	COUNTY OF SUFFOLK	  	)

 On this          day of January, 2015, before me personally came
Steven Gomes, to me personally known, who, being by me duly sworn, did depose and say that he is a resident of SUFFOLK County, COMMONWEALTH OF MASSACHUSETTS; that he is an authorized officer of U.S. BANK NATIONAL ASSOCIATION, the corporation
described in and which executed the above instrument; and that he signed his name thereto by authority of the Board of Directors of said corporation. 
  

			
		  	 Notary Public
 My commission
expires:

		
	 [Notary Seal]
	  	

  
 5EX-4.2

 Exhibit 4.2 

(Face of Security) 

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and such certificate is registered in the name of Cede & Co., or in such other name as 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. 

 

			
	REGISTERED NO. R-001	  	$400,000,000

 CUSIP No. 743315 AQ6 

THE PROGRESSIVE CORPORATION 
 3.70%
SENIOR NOTE DUE 2045 
 THE PROGRESSIVE CORPORATION, an Ohio corporation (the “Issuer”), for value received, hereby promises to
pay to CEDE & Co., c/o The Depository Trust Company, 55 Water Street, New York, New York 10041 or registered assigns, at the office or agency of the Issuer at the office of the Trustee in Boston, Massachusetts, the principal sum of FOUR
HUNDRED MILLION DOLLARS ($400,000,000) on January 26, 2045 (the “Maturity Date”), in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts,
and to pay interest semiannually on January 26 and July 26 of each year (each, an “Interest Payment Date”), commencing on July 26, 2015, on said principal sum at said office or agency, in like coin or currency, at the rate
per annum specified in the title of this Note, from the January 26 or the July 26, as the case may be, next preceding the date of this Note to which interest has been paid, unless no interest has been paid on this Note, in which case from
January 26, 2015, until payment of said principal sum has been made or duly provided for at the office or agency maintained by the Issuer for such purpose; provided, that payment of interest may be made at the option of the Issuer by check
mailed to the address of the person entitled thereto as such address shall appear on the Security Register. The interest so payable on any Interest Payment Date will, subject to certain exceptions provided in the Indenture referred to on the reverse
hereof, be paid to the person in whose name this Note is registered at the close of business on the January 11 or July 11, as the case may be, next preceding the related Interest Payment Date except that any interest payable upon maturity
or earlier redemption of this Note will be payable to the person to whom the principal of this Note is payable. 

 Reference is made to the further provisions of this Note set forth on the reverse hereof. Such
further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Note shall not be valid or
become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 

 IN WITNESS WHEREOF, The Progressive Corporation has caused this instrument to be signed by its
duly authorized officers and has caused its corporate seal to be affixed hereto or imprinted hereon. 
  

							
		 		 	THE PROGRESSIVE CORPORATION
				
	[CORPORATE SEAL]	 		 	By:	 	  

		 		 		 	 Brian C. Domeck

		 		 		 	 Vice President

  

			
	Attest:	 	  

		 	 Charles E. Jarrett

		 	 Secretary

 Dated: January 26, 2015 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the series designated herein, referred to in the within-mentioned
Indenture. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION, as

Trustee

		
	By:	 	  

		 	 Authorized Signatory

 (Back of Security) 

THE PROGRESSIVE CORPORATION 

3.70% SENIOR NOTE DUE 2045 

This Note is one of a duly authorized issue of debentures, notes, bonds or other evidences of indebtedness of the Issuer (hereinafter called
the “Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to an indenture dated as of September 15, 1993, as heretofore supplemented and amended (herein called the “Indenture”),
between the Issuer and U.S. Bank National Association, as Trustee (herein called the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Issuer and the Holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature
at different times, may bear interest (if any) at different rates, may be subject to different redemption provisions (if any), may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as in the Indenture
provided. This Security is one of a series designated as the “3.70% Senior Notes due 2045” of the Issuer (herein called the “Notes”) initially limited in aggregate principal amount to $400,000,000. The Issuer may, without the
consent of Holders, increase the principal amount of the Notes in the future by issuing additional Notes on the same terms and conditions and with the same CUSIP Number(s) as the Notes. 

If any Interest Payment Date or the Maturity Date or any earlier Redemption Date (as defined below) falls on any date that is not a Business
Day, then the related payment will be made on the next succeeding Business Day, without any interest or other additional payment in respect of the delay. “Business Day” means any day, other than a Saturday or Sunday, that is not a day on
which banking institutions or trust companies are generally authorized or required by law, regulation or executive order to close in The City of New York. 

In case an Event of Default, as defined in the Indenture, with respect to the Notes shall have occurred and be continuing, the principal
hereof may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than 66-2/3% in aggregate
principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class), 

 
evidenced as in the Indenture provided, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any
supplemental indenture or modifying in any manner the rights of the Holders of the Securities of each such series; provided, however, that no such supplemental indenture shall, among other things, (i) extend the final maturity of any Security,
or reduce the principal amount thereof or any amount payable upon redemption thereof, or change the currency of payment thereof, or reduce the rate or extend the time of payment of any interest thereon, or impair or affect the rights of any Holder
to institute suit for the payment thereof, without the consent of the Holder of each Security so affected or (ii) reduce the aforesaid percentage of Securities, the Holders of which are required to consent to any such supplemental indenture,
without the consent of the Holder of each Security so affected. It is also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, prior to any declaration accelerating the
maturity of such Securities, the Holders of a majority in aggregate principal amount Outstanding of the Securities of such series may on behalf of the Holders of all the Securities of such series waive any such past default or Event of Default and
its consequences. The preceding sentence shall not, however, apply to a default in the payment of the principal of or premium, if any, or interest on any of the Securities. Any such consent or waiver by the Holder of this Note (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Note and any Note which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof
is made upon this Note or such other Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note in the manner, at the respective times, at the rate and in the coin or currency herein prescribed. 

The Notes are issuable in registered form without coupons in minimum denominations of $2,000 and any integral multiple of $1,000 at the office
or agency of the Issuer at the office of the Trustee in Boston, Massachusetts, and in the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge. Notes may be exchanged for a like aggregate
principal amount of Notes of other authorized denominations. 
 The Notes are subject to redemption upon not more than 60 or less than 30
days’ notice by mail, in whole at any time or in part from time to time at the option of the Issuer on any date (a “Redemption Date”), at a redemption price equal to the accrued and unpaid interest on the principal amount being
redeemed to the Redemption Date plus the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum 

 
of the present values of the Remaining Scheduled Payments (as defined below) of the Notes to be redeemed, discounted to the Redemption Date, on a semiannual basis (assuming a 360-day year
consisting of twelve 30-day months), at rate equal to the Treasury Rate (defined below), plus 20 basis points. 
 ‘‘Remaining
Scheduled Payments’’ means, with respect to any redemption, the remaining scheduled payments of the principal and interest, exclusive of interest accrued to the Redemption Date, that would be due after the Redemption Date of the Notes to
be redeemed assuming such Notes were not redeemed and were held until the Maturity Date. 
 “Treasury Rate” means, with respect to
any redemption, an annual rate equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue (as defined below), assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to
the Comparable Treasury Price for the Redemption Date. 
 “Comparable Treasury Issue” means, with respect to any redemption, the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes. 

“Independent Investment Banker” means one of the Reference Treasury Dealers selected by the Issuer. 

“Comparable Treasury Price” means, with respect to any redemption, (i) the average of three Reference Treasury Dealer
Quotations (as defined below) obtained by the Trustee for the Redemption Date after excluding the highest and lowest of five Reference Treasury Dealer Quotations obtained or (ii) if the Trustee obtains fewer than five Reference Treasury Dealer
Quotations, the average of all Reference Treasury Dealer Quotations obtained. 
 “Reference Treasury Dealer” means, with respect
to any redemption, Goldman, Sachs & Co. or any of its affiliates (so long as it is and continues to be a primary U.S. Government securities dealer) and any four other primary U.S. Government securities dealers chosen by the Issuer. If any
of the foregoing ceases to be a primary U.S. Government securities dealer, the Issuer will appoint in its place another nationally recognized investment banking firm that is a primary U.S. Government securities dealer. 

“Reference Treasury Dealer Quotation” means, with respect to any redemption, the average, as determined by the Trustee, of the bid
and asked prices for the Comparable 

 
Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by a Reference Treasury Dealer at 3:30 p.m., New York City time, on the third
business day preceding the Redemption Date. 
 In the event of redemption of this Note in part only, a new Note or Notes of this series and
of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 Upon due
presentment for registration of transfer of this Note at the office or agency of the Issuer at the office of the Trustee in Boston, Massachusetts, a new Note or Notes of authorized denominations for an equal aggregate principal amount will be issued
to the transferee in exchange therefor, subject to the limitations provided in the Indenture, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Issuer, the Trustee and any authorized agent of the Issuer or the Trustee may deem and treat the registered Holder hereof as the absolute
owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon), for the purpose of receiving payment of, or on account of, the principal hereof and, subject to the provisions on
the face hereof, interest hereon, and for all other purposes, and neither the Issuer nor the Trustee nor any authorized agent of the Issuer or the Trustee shall be affected by notice to the contrary. 

No recourse under or upon any obligation, covenant or agreement of the Issuer in the Indenture or any indenture supplemental thereto or in any
Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, shareholder, officer or director, as such, of the Issuer or of any successor corporation, either directly or through the Issuer or any
successor corporation, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance
hereof and as part of the consideration for the issue hereof. 
 Terms used herein which are defined in the Indenture shall have the
respective meanings assigned thereto in the Indenture. 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

 

					
	 PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE
  
	  		  	
	 	  		  	

  
   

 
 (PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 
 the within Note and all rights thereunder, hereby irrevocably constituting and appointing 

 
   

 
 attorney to transfer said Note on the books of the
Issuer, with full power of substitution in the premises. 
  

					
	Dated
                                         
                   	  		  	  

			
		  		  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever.

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