Company: TCPA
Filing Date: 2025-10-06
Form Type: SUPPL
Source: 0001193125-25-231083
Chunk: 36

Company: TRANSCANADA PIPELINES LTD
Filing Date: 2025-10-06
Form: SUPPL
Chunk 36
---
 its own funds or otherwise incur financial liability in the performance or exercise of its rights, powers or duties if there are reasonable grounds for believing that the repayment of funds or indemnity satisfactory to it against such
liability is not reasonably assured to it. Subject to such provisions, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request of any holder, unless such holder shall have offered to the
Trustee security and indemnity

S-22

satisfactory to the Trustee. The permissive rights of the Trustee to take or refrain from taking any action enumerated in the Indenture will not be construed as an obligation or duty. No amounts owed to the Trustee under the Indenture shall be classified or treated as subordinated indebtedness. The Trustee shall not be deemed to have knowledge or notice of the occurrence of any default or event of default, unless a responsible trust officer of the Trustee shall have received written notice from the Corporation or a holder describing such default or event of default, and stating that such notice is a notice of default or event of default. For the avoidance of doubt, the events of default specified in the prospectus under the heading “ Description of Debt Securities—U.S. Indentures—Events of Default ” shall not be applicable to the Notes. The events of default stated in this section shall be the only events of default applicable to the Notes. Covenants The Indenture contains certain covenants of the Corporation for the benefit of Noteholders. You should refer to the description of one of these covenants under “ Description of Debt Securities—Certain Covenants of the Corporation—Merger, Consolidation, Sale, Lease or Conveyance” in the prospectus. Payment of Additional Amounts The Corporation will, subject to the exceptions and limitations set forth below, pay to any Noteholder such additional amounts as may be necessary so that every net payment on the Notes held by such Noteholder, after deduction or withholding by the Corporation or any of its paying agents for or on account of any present or future tax, assessment or other governmental charge (including penalties, interest and other liabilities related thereto) (“ Taxes”) imposed by or on behalf of: (1) any jurisdiction from or through which payment on any Note is made by or on behalf of the Corporation (or any successor thereto) or any political subdivision or governmental authority thereof or therein having the power to tax; or (2) any other jurisdiction