Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 27

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 27
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 Notes; however, no underwriter of the Notes is obligated to do so. Any market
making activity, if initiated, may be discontinued at any time, for any reason, without notice. If the underwriters of the Notes cease
to act as market makers for the Notes for any reason, we cannot assure you that another firm or person will make a market in such Notes.
The liquidity of any market for the Notes will depend upon the number of holders of such Notes, our results of operations and financial
condition, the market for similar securities, the interest of securities dealers in making a market in the Notes and other factors. An
active or liquid trading market may not develop for the Notes.

The Issuer can defer interest
payments on the Notes for one or more Optional Deferral Periods of up to 20 consecutive semi-annual Interest Payment Periods each. This
may affect the market price of the Notes.

So long as no Event of Default
with respect to the Notes has occurred and is continuing, the Issuer may, at its option, defer interest payments on the Notes, from time
to time, for one or more Optional Deferral Periods of up to 20 consecutive semi-annual Interest Payment Periods each, except that no such
Optional Deferral Period may extend beyond the final maturity date of the Notes or end on a day other than the day immediately preceding
an interest payment date. In other words, the Issuer may declare at its discretion up to a ten-year interest payment moratorium on the
Notes and may choose to do that on one or more occasions. Moreover, following the end of any Optional Deferral Period, if all amounts
then due on the Notes are paid, the Issuer could immediately start a new Optional Deferral Period of up to 20 consecutive semi-annual
Interest Payment Periods. No interest will be paid or payable on the Notes during any Optional Deferral Period unless the Issuer elects,
at its option, to redeem Notes during such Optional Deferral Period, in which case accrued and unpaid interest to but excluding the redemption
date will be due and

<div align='center'>S-14</div>

payable on such redemption date
only on the Notes being redeemed, or unless the principal of and interest on the Notes shall have been declared due and payable as a result
of an Event of Default with respect to the Notes, in which case all accrued and unpaid interest on the Notes shall become due and payable.
Instead, interest on the Notes