Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 50

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 50
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ure (Section 10.13). The holders of a majority in principal amount of outstanding Notes may waive any past default under the Indenture with respect to the
Notes, except a default in the payment of the principal of (or premium, if any) and interest, if any, on the Notes or in respect of a provision which under the Indenture cannot be modified or amended without the consent of the holder of each
outstanding Note (Section 5.13). The Indenture or the Notes may be amended or supplemented, without the consent of any holder of Notes, to cure any ambiguity or inconsistency or to make any change that does not have an adverse effect on the
rights of any holder of Notes (Section 9.1).

Defeasance

The Indenture provides that, at its option, TransAlta will be discharged from any and all obligations in respect of the Notes upon irrevocable
deposit with the Trustee, in trust, of money, government securities or a combination thereof which will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent chartered accountants to pay the principal of
and premium, if any, and each instalment of interest, if any, on the outstanding Notes (“Defeasance”) (except with respect to the authentication, transfer, exchange or replacement of Notes or the maintenance of a place of payment
and certain other obligations set forth in the Indenture). Such trust may only be established if among other things (1) TransAlta has delivered to the Trustee an opinion of counsel in the United States stating that (a) TransAlta has
received from, or there has been published by, the Internal Revenue Service a ruling, or (b) since the date of execution of the Indenture, there has been a change in the applicable United States federal income tax law, in either case to the
effect that the holders of such outstanding Notes will not recognize income, gain or loss for United States federal income tax purposes as a result of such Defeasance and will be subject to United States federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such Defeasance had not occurred; (2) TransAlta has delivered to the Trustee an opinion of counsel in Canada or a ruling from the Canada Revenue Agency
(“CRA”) to the effect that the holders of such outstanding Notes will not recognize income