Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 94

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 94
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. Indenture by the Corporation. The Corporation may also discharge any and all of its obligations to holders of any series of debt securities issued under a U.S. Indenture at any time (“defeasance”) upon compliance with conditions discussed below if the exact amounts of principal and interest due on such debt securities can be determined, with the exception of its duty to register the transfer or exchange of such series of debt securities, to replace any mutilated, destroyed, lost or stolen series of debt securities or to maintain an office or agency in respect of such series of debt securities. Under terms reasonably satisfactory to the relevant U.S. Trustee, the Corporation may instead be released with respect to any outstanding series of debt securities issued under the relevant U.S. Indenture from the obligations imposed by certain provisions of such U.S. Indenture, including the covenants described above under “Certain Covenants of the Corporation”, and omit to comply with such provisions without creating an Event of Default (“covenant defeasance”). Defeasance or covenant defeasance may be effected only if, among other things:

| (1) | the Corporation irrevocably deposits with the applicable U.S. Trustee, as trust funds specifically pledged as                                                                                                                                         
 security for, and dedicated solely to, the benefit of the holders of such debt securities, cash (in such currency, in which such debt securities are specified as payable at their stated maturity) or Government Obligations applicable to such debt 
 securities (determined on the basis of the currency in which such debt securities are then specified as payable at their stated maturity), maturing as to principal and interest at such times and in such amounts as will insure the availability of 
 cash, or a combination thereof in an amount certified by a nationally recognized firm of independent public or chartered accountants to be sufficient to pay at maturity (or upon redemption or pursuant to mandatory                                 |

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| sinking fund payments) the principal of, premium, if any, and interest on all outstanding debt securities of such series issued under such U.S. Indenture; |

| (2) | such deposit will not result in breach or violation of, or constitute a default under, any agreement or 
 instrument to which the Corporation is a party or by which it is bound;                                 |

| (3) | the Corporation delivers to the relevant U.S. Trustee an opinion of counsel to the effect that the holders of                                                                                                                                         
 such series of debt securities will not recognize income, gain or