Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 16

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 16
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. Treasury rates as an indication of future Five-Year Treasury Rates.

Noteholders will have limited rights of acceleration.

Subject to the conditions in the Indenture, the Trustee and Noteholders may accelerate payment of the principal of Notes only upon the
occurrence of certain events of default, which will occur only if the Corporation (a) defaults on the payment of (i) principal or premium, if any, when due and payable, or (ii) interest when due and payable and such default continues
for 30 days (subject to the Corporation’s right, at its sole option, to defer interest payments, as described under “Description of the Notes—Deferral Right”), (b) files for bankruptcy or other specified events
of bankruptcy, insolvency, receivership or reorganization occur with respect to the Corporation, or (c) defaults in the performance or breach of any other covenant or warranty in the Indenture, which default continues uncured for a period of
60 days after we receive written notice from the trustee or we and the trustee receive written notice from the holders of not less than 25% in principal amount of the outstanding debt securities as provided in the Indenture. The Trustee and
Noteholders will not have the right to accelerate payment of the principal of Notes upon an event of default described in clause (c) above, although a legal action could be brought to enforce such covenants. See “Description of the Notes—Events of Default”.

We cannot provide assurance that an active trading market will develop for the Notes.

The Notes are a new issue of securities with no established trading market and the Notes will not be listed on any securities exchange or on
any automated dealer quotation system. The Underwriters may make a market in the Notes after completion of the offering, but will not be obligated to do so and may discontinue any market-making activities at
any time without notice. Therefore, no assurance can be given as to the liquidity of the trading market for the Notes or that an active public market for the Notes will develop or, if developed, that it will continue. If an active public trading
market for the Notes does not develop, the market price and liquidity of the Notes may be adversely affected. We cannot assure you that the market, if any, for the Notes will be free from disruptions that may adversely affect the price at which you
may sell such Notes. Future trading prices of the Notes will also depend on many other factors, including, among other things, prevailing interest rates, the