Company: ENBSF
Filing Date: 2025-06-18
Form Type: 424B5
Source: 0001104659-25-060642
Chunk: 48

Company: ENBRIDGE INC
Filing Date: 2025-06-18
Form: 424B5
Chunk 48
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 property owned subject to such Security Interest, 
 whether or not the obligations secured thereby shall have been assumed; and                                |

| (b) | guarantees, indemnities, endorsements (other than endorsements for collection in the ordinary course of                                
 business) or other contingent liabilities in respect of obligations of another person for indebtedness of that other person in respect 
 of any amounts borrowed by them.                                                                                                       |

“Non-Recourse Assets”
means the assets created, developed, constructed or acquired with or in respect of which Non-Recourse Debt has been incurred and any and
all receivables, inventory, equipment, chattel paper, intangibles and other rights or collateral arising from or connected with the assets
created, developed, constructed or acquired and to which recourse of the lender of such Non-Recourse Debt (or any agent, trustee, receiver
or other person acting on behalf of such lender) in respect of such indebtedness is limited in all circumstances (other than in respect
of false or misleading representations or warranties).

“Non-Recourse Debt”
means any Indebtedness incurred to finance the creation, development, construction or acquisition of assets and any increases in or extensions,
renewals or refundings of any such Indebtedness, provided that the recourse of the lender thereof or any agent, trustee, receiver or other
person acting on behalf of the lender in respect of such Indebtedness or any judgment in respect thereof is limited in all circumstances
(other than in respect of false or misleading representations or warranties) to the assets created, developed, constructed or acquired
in respect of which such Indebtedness has been incurred and to any receivables, inventory, equipment, chattel paper, intangibles and other
rights or collateral connected with the assets created, developed, constructed or acquired and to which the lender has recourse.

“Petroleum Substances”
means crude oil, crude bitumen, synthetic crude oil, petroleum, natural gas, natural gas liquids, related hydrocarbons and any and all
other substances, whether liquid, solid or gaseous, whether hydrocarbons or not, produced or producible in association with any of the
foregoing, including hydrogen sulphide and sulphur.

“Purchase Money Obligation”
means any monetary obligation created or assumed as part of the purchase price of real or tangible personal property, whether or not secured,
any extensions, renewals, or refundings of any such obligation, provided that the principal amount of such obligation outstanding on