Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 28

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 28
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 13 of the U.S. Exchange Act in respect of a debt security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and regulations.

Delivery of such reports, information and
documents to the Trustee shall be for informational purposes only and the Trustee’s receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable from
information contained therein, including our compliance with any of our covenants under the Indenture (as to which the Trustee is entitled to rely exclusively on officers’ certificates). The Trustee shall not be obligated to monitor or confirm,
on a continuing basis or otherwise, our compliance with the covenants or with respect to any reports or other documents filed with the SEC under the Indenture.

Modification and Waiver

Modification of Indenture

The provisions of the Indenture concerning modifications thereto will apply to the Notes. You should refer to the description of
these provisions under “Description of Debt Securities—Modification and Waiver” in the prospectus.

Waiver of Default

The holders of a majority in principal amount of the outstanding Notes may, on behalf of all Noteholders, waive, insofar as the
Notes are concerned, compliance by the Corporation with certain restrictive provisions of the Indenture. 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 in respect of a provision which under the Indenture cannot be modified or amended without the consent of each holder of the Notes. See “Description of Debt Securities—Modification and Waiver” in the prospectus.

S-20

Discharge, Defeasance and Covenant Defeasance

The provisions of the Indenture concerning defeasance, satisfaction and discharge will apply to the Notes. You should refer to the description
of these provisions under “Description of Debt Securities—Discharge, Defeasance and Covenant Defeasance” in the prospectus.

Subordination

The Notes will be our
direct unsecured obligations and will rank junior and subordinate in right of payment to the prior payment in full of our existing and future Senior Indebtedness. The Notes will rank equal in right of payment with our U.S.$1,000,000,000 in aggregate
principal amount of outstanding 6.350% Junior Subordinated Notes Due 2067 and any of our future unsecured indebtedness if the terms