Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 20

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 20
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uer’s obligations
under the Notes will be guaranteed by the Guarantors. In the United States, under federal bankruptcy law and comparable provisions of
state fraudulent transfer laws, each Guarantor’s Guarantee could be voided, or claims in respect of such Guarantee could be subordinated
to all other debts of such Guarantor if, among other things, such Guarantor, at the time it incurred the indebtedness evidenced by its
Guarantee, received less than reasonably equivalent value or fair consideration for the incurrence of such Guarantee; and

| · | was insolvent or rendered insolvent by reason of such incurrence; |

| · | was engaged in a business or transactions for which its remaining assets constituted unreasonably small 
 capital; or                                                                                             |

| · | intended to incur, or believed that it would incur, debts beyond its ability to pay such debts as they 
 mature.                                                                                                |

In addition, any payment
by a Guarantor pursuant to its Guarantee could be voided and required to be returned to the Guarantor or to a fund for the benefit of
the creditors of the Guarantor.

As one of the Guarantors,
Emera, is organized under the laws of the province of Nova Scotia, Canada and a portion of its assets are located in Canada, applicable
Canadian statutes may also allow courts to void the Notes and/or the Guarantees. The Issuer’s creditors or creditors of the Guarantors
could challenge the Guarantees as fraudulent transfers, conveyances, preferences, transfers at undervalue or on other grounds under applicable
Canadian federal or provincial law. Payments made to the holders of the Notes may be required to be returned or the Guarantees may be
avoided or set aside under Canadian federal or provincial legislation if it is judicially determined that, among other things:

| · | at the time of the payment or of the making of the Guarantee, the payor or Guarantor, as the case may                                       
 be, was insolvent and the payment had the effect of or was given with a view to giving a preference to, or conferred a fraudulent or unjust 
 preference on, the recipient or another Guarantor;                                                                                          |

| · | the payment or making of the Guarantee was a transfer at undervalue and at the time of the repayment or                               
 the making of the Guarantee the payor or the Guarantor, as the case may be, was insolvent or was rendered insolvent by the payment or 
 the making of the Guarantee;