Company: TCPA
Filing Date: 2025-02-20
Form Type: SUPPL
Source: 0001193125-25-030844
Chunk: 82

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-20
Form: SUPPL
Chunk 82
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 (a) to the Corporation, (b) to the extent, if any, required to qualify directors of a Designated Subsidiary under applicable law, (c) pursuant to obligations to issue shares which exist prior to the date when such Designated               
 Subsidiary became a subsidiary or (d) to the extent issued to other shareholders of such Designated Subsidiary if after giving effect to such issue the pro rata aggregate ownership interest of the Corporation and any other Designated      
 Subsidiaries in the capital stock of such Designated Subsidiary and the Corporation’s direct and indirect pro rata voting rights, pro rata interest in shareholders’ equity, and pro rata rights to participate in earnings of such Designated 
 Subsidiary are not reduced; and                                                                                                                                                                                                                |

| (7) | the Corporation will not, and will not permit any Designated Subsidiary to, sell or dispose of any shares of                                                                                                                                            
 capital stock or Indebtedness of any Designated Subsidiary to any person other than the Corporation or another Designated Subsidiary unless all shares of capital stock and Indebtedness of such Designated Subsidiary then held by the Corporation and 
 any of its Subsidiaries (together with all shares of capital stock and Indebtedness of the Corporation and other Designated Subsidiaries then held by such Designated Subsidiary) are being sold or disposed of at such time to a Subsidiary of the     
 Corporation for cash at fair value determined by an Independent Appraiser (as defined below) or to persons other than any of the Corporation’s Subsidiaries.                                                                                            |

Events of Default An Event of Default is defined under each U.S. Indenture with respect to debt securities of any series issued under such U.S. Indenture as being:

| (1) | a default in payment of any principal of, and premium, if any, on the debt securities of such series, either at 
 maturity (or upon any redemption), by declaration or otherwise;                                                 |

| (2) | a default for 30 days in payment of any interest on any debt securities of such series; |

| (3) | a default for 60 days after written notice in the observance or performance of any other covenant or agreement                                                                                   
 in the debt securities of such series or such U.S. Indenture other than a covenant included in such U.S.