Company: TSLTF
Filing Date: 2025-12-12
Form Type: SUPPL
Source: 0001193125-25-317786
Chunk: 46

Company: TRANSALTA CORP
Filing Date: 2025-12-12
Form: SUPPL
Chunk 46
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2). Subject to such provisions for indemnification of the Trustee and certain other limitations set forth in the Indenture, the holders of a majority in principal amount of the outstanding debt securities of all
series issued under the Indenture and affected by an Event of Default shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the
Trustee, with respect to the outstanding debt securities of all series issued under the Indenture and affected by such Event of Default (Section 5.12).

No holder of Notes will have any right to institute any proceeding with respect to the Indenture, or for the appointment of a receiver or a
trustee, or for any other remedy thereunder, unless (a) such holder has previously

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given to the Trustee written notice of a continuing Event of Default with respect to the Notes, (b) the holders of at least 25% in aggregate principal amount of the outstanding Notes have made written request, and such holder or holders have offered reasonable indemnity, to the Trustee to institute such proceeding as Trustee, and (c) the Trustee has failed to institute such proceeding, and has not received from the holders of a majority in aggregate principal amount of the outstanding Notes a direction inconsistent with such request, within 60 days after such notice, request and offer (Section 5.7). However, such limitations do not apply to a suit instituted by the holder of Notes for the enforcement of payment of the principal of or any premium or interest on the Notes on or after the applicable due date therefor (Section 5.8). The Corporation will be required to furnish to the Trustee annually a statement by certain of its officers as to whether or not the Corporation, to the best of their knowledge, is in compliance with all conditions and covenants of the Indenture and, if not, specifying all such known defaults (Section 10.4). Mergers, Consolidations, Amalgamations and Sale of Assets The Corporation will not enter into any transaction whereby all or substantially all of its undertaking, property and assets would become the property of any other person (the “ Successor”), whether by reorganization, consolidation, amalgamation, arrangement, merger, transfer, sale, or otherwise, unless:

| (a) | the Successor expressly assumes all of the covenants and obligations of the Corporation under the Indent