Company: TCPA
Filing Date: 2025-10-08
Form Type: SUPPL
Source: 0001193125-25-233745
Chunk: 36

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-08
Form: SUPPL
Chunk 36
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holder such additional amounts as may be necessary so that every net payment on the Notes held by such Noteholder, after deduction or withholding by the Corporation or any of its paying agents for or on account of any present or future tax, assessment or other governmental charge (including penalties, interest and other liabilities related thereto) (“ Taxes”) imposed by or on behalf of: (1) any jurisdiction from or through which payment on any Note is made by or on behalf of the Corporation (or any successor thereto) or any political subdivision or governmental authority thereof or therein having the power to tax; or (2) any other jurisdiction in which the Corporation (or any successor thereto) is incorporated or organized, engaged in business for tax purposes, or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of clauses (1) and (2), a “ Relevant Taxing Jurisdiction”), will not be less than the amount provided in those Notes to be then due and payable (and the Corporation will remit the full amount withheld to the relevant authority in accordance with applicable law). However, the Corporation will not be required to make any payment of additional amounts:

| (a) | to any person in respect of whom Taxes imposed by Canada are required to be withheld or deducted as a result of                                                                                                                      
 such person or any other person that has a beneficial interest in respect of any payment or deemed payment under those Notes (i) not dealing at arm’s length with the Corporation (within the meaning of the Income Tax Act (Canada) 
 and the regulations thereunder (collectively, the “Tax Act”)), (ii) being a “specified non-resident shareholder” (as defined in subsection 18(5) of the Tax Act) of the                                                              
 Corporation, or (iii) not dealing at arm’s length (for the purposes of the Tax Act) with a “specified shareholder” (as defined in subsection 18(5) of the Tax Act) of the Corporation;                                               |

| (b) | for or on account of Canadian withholding Taxes imposed on a deemed dividend arising under subsection 214(18)                                                                                                                             
 of the Tax Act as a result of the Corporation being a “specified entity” (as defined in subsection 18.4(1)) in respect of the Noteholder (other than where the Corporation is a specified entity in respect of the Noteholder solely as a 
 result of the existence, exercise or enforcement of rights under