Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 30

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 30
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, the Corporation will also covenant that it
will do all things necessary to preserve and keep in full force and effect its existence, rights and franchises; provided that the Corporation
is not required to preserve any right or franchise if the board of directors of the Corporation determines that preservation of the right
or franchise is no longer desirable in the conduct of the business of the Corporation and that its loss is not disadvantageous in any
material respect to the Noteholders.

<div align='center'>S-19</div>

Waiver of Covenants

The Corporation may omit in
any particular instance to comply with any term, provision or condition in any covenant in respect of a series of the Notes, if before
the time for such compliance the holders of a majority of the principal amount of the outstanding notes of that series of the Notes waive
compliance with the applicable term, provision or condition.

Mergers, Consolidations and Sales of Assets

The Corporation may not consolidate
or amalgamate with or merge into, or enter into any statutory arrangement for such purpose with, any other person or convey, transfer
or lease its properties and assets substantially as an entirety to any person, unless, among other requirements:

| (a) | the successor to the consolidation, amalgamation, merger or arrangement is a corporation, partnership                                      
 or trust organized under the laws of Canada, or any Province or Territory thereof, the United States of America, or any State thereof      
 or the District of Columbia, and expressly assumes the obligation to pay the principal of and any premium and interest on all of the Notes 
 and perform or observe the covenants and obligations contained in the Indenture;                                                           |

| (b) | immediately after giving effect to the transaction, no event of default, or event which, after notice 
 or lapse of time or both, would become an event of default, will have happened and be continuing; and |

| (c) | if, as a result of any such consolidation, amalgamation, merger or arrangement, properties or assets of                                    
 the Corporation would become subject to a mortgage, pledge, lien, security interest or other encumbrance which would not be permitted      
 by the Indenture, the Corporation or such successor, as the case may be, shall take such steps as shall be necessary effectively to secure 
 the Notes equally and ratably with (or prior to) all indebtedness secured thereby.                                                         |

Upon any consolidation, amalgamation,
merger or arrangement of the Corporation or conveyance,