Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 41

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 41
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 debt or preferred stock, that the Issuer, the Guarantors' and their respective
subsidiaries may issue, guarantee or otherwise incur.

Option to Defer Interest Payments

So long as no Event of Default
(as defined below under “—Events 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 deferral periods of up to 20 consecutive semi-annual
Interest Payment Periods (as defined below) (each such deferral period, commencing on the interest payment date on which the first such
deferred interest payment otherwise would have been made, an “Optional Deferral Period”), 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. During any Optional Deferral Period, interest on the Notes will continue to accrue at the then-applicable interest rate on the Notes
(as reset from time to time on any Reset Date occurring during such Optional Deferral Period in accordance with the terms of the Notes).
In addition, during any Optional Deferral Period, interest on the deferred interest (“compound interest”) will accrue at the
then-applicable interest rate on the Notes (as reset from time to time on any Reset Date occurring during such Optional Deferral Period
in accordance with the terms of the Notes), compounded semi-annually, to the extent permitted by applicable law. No interest will be due
or payable on the Notes during an Optional Deferral Period, except upon a redemption of any Notes on any redemption date during such Optional
Deferral Period (in which case all accrued and unpaid interest (including, to the extent permitted by applicable law, any compound interest)
on the Notes to be redeemed to but excluding such redemption date will be due and payable on such redemption date), or unless the principal
of and interest on the Notes shall have been declared due and payable as the result of an Event of Default with respect to the Notes (in
which case all accrued and unpaid interest, including, to the extent permitted by applicable law, any compound interest, on the Notes
shall become due and payable). All references in the Notes and, insofar as relates to the Notes, the Indenture, to “interest”
on the Notes shall be deemed to include any such deferred interest and, to the extent permitted by applicable law, any compound interest,