Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 35

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 35
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 only such provisions applicable to the Notes.

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 then outstanding under the Indenture, demand payment of the principal or premium, if any, together with any accrued and unpaid
interest up to (but excluding) such date, which shall immediately become due and payable in cash, and may institute legal proceedings for the collection of such aggregate amount in the event the Corporation fails to make payment thereof upon such
demand.

The holders of a majority in principal amount of the then outstanding Notes will have the right to direct the time, method and
place of conducting any proceeding for exercising any remedy available to the Trustee, subject to the Trustee’s rights under the Indenture and certain exceptions. The Indenture provides that, (i) in case an Event of Default occurs and is
not cured, the Trustee will be required, in the exercise of its power, to use the degree of care of a prudent person in similar circumstances in the conduct of his own affairs and (ii) no provision of the Indenture shall require the Trustee to
expend or risk