Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 45

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 45
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 position with respect to an administrative action     
 or judicial decision that differs from the previously generally accepted position, in each case by any legislative body, court, governmental 
 authority or regulatory body, regardless of the time or manner in which that amendment, clarification or change is introduced or made        
 known; or                                                                                                                                    |

| d. | a threatened challenge asserted in writing in connection with a tax audit of us or any of our affiliates                                 
 or subsidiaries, or a publicly-known threatened challenge asserted in writing against any other taxpayer that has raised capital through 
 the issuance of securities that are substantially similar to the Notes,                                                                  |

which amendment, clarification or change is effective
or the administrative action is taken or judicial decision, interpretation or pronouncement is issued or threatened challenge is asserted
or becomes publicly-known after the date of this prospectus supplement, there is more than an insubstantial risk that interest payable
by the Issuer on the Notes is not deductible, or within 90 days would not be deductible, in whole or in part, by the Issuer (or a member
of the U.S. consolidated group of which the issuer is a member) for U.S. federal income tax purposes.

Redemption Following a
Rating Agency Event

The Issuer may at its option
redeem the Notes, in whole but not in part, at any time following the occurrence and during the continuance of a Rating Agency Event (as
defined below) at a redemption price in cash equal to 102% of the principal amount of the Notes, plus, subject to the terms described
in the first paragraph under “—Redemption Procedures; Cancellation of Redemption” below, accrued and unpaid interest
on the Notes to but excluding the redemption date.

“Rating Agency Event”
means, as of any date, a change, clarification or amendment in the methodology published by any nationally recognized statistical rating
organization within the meaning of Section 3(a)(62) of the Exchange Act (or any successor provision thereto), that then publishes a rating
for the Issuer (together with any successor thereto, a “rating agency”) in assigning equity credit to securities such as the
Notes, (a) as such methodology was in effect on the date of this prospectus supplement, in the case of any rating agency that published
a rating for the Issuer as of the date of this prospectus supplement, or (b) as such methodology was in effect on the date such rating agency first published a rating forthe Issuer, in the case