Company: TCPA
Filing Date: 2025-02-19
Form Type: SUPPL
Source: 0001193125-25-029207
Chunk: 30

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-19
Form: SUPPL
Chunk 30
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, renewals, extensions, modifications and refundings of any such indebtedness or obligation.

As of December 31, 2024, the Corporation’s Senior Indebtedness totaled approximately $30,513 million.

The Indenture contains certain limitations on the rights of the Trustee, should it become a creditor of the Corporation, to obtain payment of
claims in certain cases, or to realize on certain assets received in respect of any such claim as security or otherwise. The Trustee will be permitted to engage in other transactions; however, if it acquires any conflicting interest (as defined in
the Indenture), it must eliminate such conflict or resign.

For the avoidance of doubt, the subordination provisions described in the prospectus under the heading “Description of Debt Securities—U.S. Indentures—Subordinated Debt” (including the definition of “Senior Indebtedness” specified therein) shall not be applicable to the Notes. The subordination provisions described in this section shall be the only such provisions applicable to the Notes.

S-21

Events of Default

An event of default in respect of the Notes 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”) on the Notes, (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 Notes as provided in the Indenture.

There will be no
right of acceleration in the case of an event of default described in clause (c) above, although a legal action could be brought to enforce such covenants.

If an event of default has occurred, other than an event of default described in clause (c) above, and is continuing, then the Trustee
may, in its discretion and shall upon the request of holders of not less than 25% of the principal amount of Notes