Company: TCPA
Filing Date: 2025-02-20
Form Type: SUPPL
Source: 0001193125-25-030844
Chunk: 25

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-20
Form: SUPPL
Chunk 25
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 equity or other securities offering, an incurrence of indebtedness or other financing, or any other corporate transaction or event. Notice of any redemption in respect thereof may, at the Corporation’s discretion, be given prior to the
completion of one or more of the transactions or events upon which the redemption is conditioned and such redemption may be partial as a result of only some of the conditions being satisfied. If such redemption is subject to the satisfaction of one
or more conditions precedent, the related notice must describe each such condition, and if applicable, state that, in the Corporation’s discretion, such redemption may not occur and such notice may be rescinded in the event that any or all such
conditions shall not have been satisfied or waived by the applicable date fixed for redemption. In addition, the Corporation may provide in such notice that payment of the redemption price and other amounts owing for the redemption of any Notes and
performance of the Corporation’s obligations with respect to such redemption may be performed by another Person.

Tax Treatment

The Corporation agrees and each holder (and beneficial owner) of the Notes will, by accepting any Notes (or a beneficial interest therein), be
deemed to agree to treat the Notes as indebtedness of the Corporation for United States federal, state and local income tax purposes, unless otherwise required by a change in law after the date on which the Notes are issued or the good faith
resolution of a tax audit or other tax proceeding.

Redemption on Tax Event or Rating Event

At any time upon or following the occurrence of a Tax Event, the Corporation may, at its option, on giving not more than 60 nor less than
10 days’ notice to the Noteholders, redeem all (but not less than all) of the Notes. The redemption price per U.S.$1,000 principal amount of Notes will be equal to 100% of the principal amount thereof, together with accrued and unpaid
interest to but excluding the date fixed for redemption.

A “Tax Event” means the Corporation (or its successor)
determines that (1) as a result of (A) any amendment to or change (including any announced prospective change) in the laws or related regulations of any Relevant Taxing Jurisdiction or (B) any amendment to or change in an
interpretation or application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority announced or becoming effective on or after the date hereof, the Corporation has or will become obligated to pay,
on the next Interest Payment Date for the Notes