Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 104

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 104
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 Security, or portion thereof, called for redemption, except 
 the unredeemed portion of any Debt Security being redeemed in part; or                                    |

| · | issue, register the transfer of, or exchange any Debt Security which has been surrendered for repayment 
 at the option of the holder except the portion, if any, of such Debt Security not to be so repaid.      |

Guarantees of Debt Securities

The Guarantors will fully
and unconditionally guarantee, jointly and severally as primary obligors and not merely as sureties, on a senior and/or subordinated unsecured
basis, the full and punctual payment when due, whether at stated maturity, by acceleration or otherwise, of all obligations of EUSHI Finance
under the Debt Securities, whether for payment of principal of, or premium or interest on the Debt Securities, Additional Amounts, indemnification
or otherwise. Each guarantee from a Guarantor will be limited to an amount not to exceed the maximum amount that can be guaranteed by
the applicable Guarantor without rendering the guarantee, as it relates to that Guarantor, voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally.

Events of Default

The Subordinated Indenture
provides, with respect to any series of Outstanding Debt Securities thereunder, that the following shall constitute Events of Default:

| (i) | default in the payment of any interest on the Debt Securities that becomes due and payable and the default                                  
 continues for 60 days (whether or not such payment is prohibited by the subordination provisions applicable to the Debt Securities), except 
 as the result of a deferral of interest payments in accordance with the provisions discussed in the Subordinated Indenture;                 |

| (ii) | default in the payment of principal of or premium, if any, on the Debt Securities when due and payable                                           
 (whether or not such payment is prohibited by the subordination provisions applicable to the Debt Securities), at its maturity, upon redemption, 
 upon acceleration or otherwise;                                                                                                                  |

| (iii) | the Issuer, Emera or EUSHI, as applicable, defaults in the performance of, or breaches any other covenant                                  
 or warranty (excluding covenants and warranties solely applicable to one or more other series of subordinated debt securities issued under 
 the Subordinated Indenture) in, the Subordinated Indenture or the Debt Securities and such default or breach continues for a period of