Company: TCPA
Filing Date: 2025-02-20
Form Type: SUPPL
Source: 0001193125-25-030844
Chunk: 81

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-02-20
Form: SUPPL
Chunk 81
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 below), (c) certain permitted liens specified in the U.S. Unsubordinated Debt Indenture or (d) any liens of a nature similar to the permitted liens specified in the U.S. Unsubordinated Debt                       
 Indenture which do not secure Indebtedness of, or Indebtedness guaranteed by, the Corporation or any Designated Subsidiary and which do not materially impair the use of the property subject thereto or the operation of the business of the Corporation 
 or such Designated Subsidiary or the value of such property for the purpose of such other business;                                                                                                                                                       |

| (2) | the Corporation will not create, assume or otherwise incur any Funded Obligations (as defined below) ranking 
 prior to the Unsubordinated Debt Securities issued under the U.S. Unsubordinated Debt Indenture;             |

| (3) | if the Corporation shall cause the payment of the principal of, premium, if any, or interest on any of its                                                                                                                                  
 Indebtedness to be subordinated to the prior payment of any other of its Indebtedness it shall in like manner subordinate such payment to the prior payment in full of all of the Unsubordinated Debt Securities outstanding under the U.S. 
 Unsubordinated Debt Indenture;                                                                                                                                                                                                              |

| (4) | the Corporation will at all times hold Voting Shares (as defined below) of each Designated Subsidiary which,                                                                                                         
 together with Voting Shares of such Designated Subsidiary held by other Designated Subsidiaries, are sufficient to entitle such holders to elect at least a majority of the directors of such Designated Subsidiary; |

| (5) | the Corporation will not enter into any agreement providing for the issue or sale of Funded Obligations unless 
 such agreement contains a condition of such issue or sale (which condition can only be waived                  |

11

| with the consent of the holders of Unsubordinated Debt Securities issued under the U.S. Unsubordinated Debt Indenture expressed by resolution) to the effect that the terms and conditions of the    
 U.S. Unsubordinated Debt Indenture relating to the creation, assumption or incurring of Funded Obligations shall be complied with at the time of each issue and sale provided for in such agreement; |

| (6) | the Corporation will not permit any Designated Subsidiary to issue any shares of its capital stock except