Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 22

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 22
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 Guarantees if the benefit of applicable Canadian insolvency
laws is sought with respect to Emera. For example, the Bankruptcy and Insolvency Act (Canada) and the Companies’ Creditors Arrangement Act(Canada), the Winding-Up and Restructuring Act (Canada) and other corporate arrangement legislation each contain
provisions enabling a debtor to obtain a stay of proceedings or other rights and remedies in favor of itself and its property against
its creditors and others and to prepare and file a restructuring proposal, a plan of arrangement or a plan of compromise or arrangement
to be voted on by the various classes of its affected creditors. A restructuring proposal, plan of arrangement or plan of compromise or
arrangement, as applicable, if accepted by the requisite majorities of each affected class of creditors, and if approved by the relevant
Canadian court and implemented, would be binding on all affected creditors within each affected class, including those affected creditors
that did not vote to accept the proposal, plan of arrangement or plan of compromise or arrangement. In addition, the relevant Canadian
court may, subject to certain conditions, create court-ordered charges on the assets of the debtor to secure interim financing, professional
fees, post-filing amounts owing to critical suppliers, director liabilities or other obligations, in priority to the security interests
that secure the Notes and the Guarantees. Moreover, Canadian insolvency laws, in certain instances, permit the debtor (or its court appointed
receiver) to retain possession and administration of its property (including property that constitutes collateral), subject to court oversight,
even though it may be in default under the applicable debt instrument or security document during the applicable proceedings and notwithstanding
the ability of its creditors to enforce their rights upon such default are impaired, delayed, stayed, compromised, or otherwise restricted,.
In addition, it may be possible to restructure certain debt obligations, including Guarantees, under the applicable governing federal
or provincial corporate statute without commencing formal insolvency proceedings.

In this regard, any approval
threshold requirements provided in the Indenture governing the Notes for modification of certain rights of the holders of Notes may be
disregarded in a restructuring of Emera’s debt under applicable law or the order or decree of a court having jurisdiction. In an
insolvency, bankruptcy corporate arrangement in respect of a compromise of the debt of the debtors or similar proceeding, the applicable
statute or the court will establish the approval threshold. The approval threshold requirements under the Indenture governing the