Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 58

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 58
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 do not in the opinion of the Corporation materially                                                                                          
 impair the use of the property subject thereto or the operation of the business of the Corporation or the applicable Subsidiary thereof or the value of such property for the purpose of such business; |

S-42

| (i) | any extension, renewal, alteration or replacement (or successive extensions, renewals, alterations or                                                                                                                                             
 replacements) in whole or in part, of any Security Interest referred to in the foregoing clauses (a) through (h) inclusive, provided the extension, renewal, alteration or replacement of such Security Interest is limited to all or any part of 
 the same property that secured the Security Interest extended, renewed, altered or replaced (plus improvements on such property) and the principal amount of the Indebtedness secured thereby is not increased; and                               |

| (j) | any other Security Interest if the aggregate amount of Indebtedness secured pursuant to this clause (j)                                
 (together with the Attributable Amount of any sale and leaseback transaction) does not exceed 20% of Consolidated Net Tangible Assets. |

“ Preferred Securities” means securities which on the date of issue thereof by a Person: (i) have a term to maturity of more than 30 years; (ii) rank subordinate to the unsecured and unsubordinated Indebtedness of such person outstanding on such date; (iii) entitle such person to defer the payment of interest thereon for more than four years without thereby causing an event of default in respect of such securities to occur; and (iv) entitle such person to satisfy the obligation to make payments of deferred interest thereon from the proceeds of the issuance of its shares. “ Purchase Money Obligation” means any monetary obligation created or assumed as part of the purchase price of real or tangible personal property, whether or not secured, any extensions, renewals, alterations or replacements of any such obligation, provided that the principal amount of such obligation outstanding on the date of such extension, renewal, alteration or replacement is not increased and further provided that any security given in respect of such obligation shall not extend to any property other than the property acquired in connection with which such obligation was created or assumed and fixed improvements, if any, erected or constructed thereon. “ Security Interest” means any mortgage, charge, pledge, lien, encumbrance, assignment by way of security, title retention agreement or other security interest whatsoever, howsoever created or arising, whether absolute or contingent, fixed or