Company: EMICF
Filing Date: 2025-09-25
Form Type: F-10
Source: 0000950103-25-012173
Chunk: 24

Company: EMERA INC
Filing Date: 2025-09-25
Form: F-10
Chunk 24
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 Debt                                                                                         
 Securities owned by us or any other obligor or affiliate of ours or such other obligor shall 
 be disregarded and not deemed to be Outstanding.                                             |

Merger, Consolidation or Amalgamation

The Indentures provide that EUSHI Finance and the Guarantors may not amalgamate or consolidate with or merge into any other Person and EUSHI Finance and the Guarantors may not convey, transfer, sell or lease its properties and assets substantially as an entirety to any Person, unless:

| • | the                                                                                           
 Person formed by such consolidation or amalgamation or into which Emera is merged or the      
 Person which acquires or leases Emera’s properties and assets as an entirety or substantially 
 as an entirety expressly assumes Emera’s obligations under the Debt Securities and            
 applicable Indenture, and                                                                     |

| • | certain                   
 other conditions are met. |

Notwithstanding the foregoing, any Subsidiary of Emera, other than EUSHI and EUSHI Finance, may consolidate with, merge into or transfer all or a portion of its properties or assets to Emera.

Discharge, Defeasance and Covenant Defeasance

We may discharge certain obligations to holders of any series of Debt Securities issued under either Indenture which have not already been delivered to the trustee for cancellation and which have either become due and payable or are by their terms due and payable within one year (or scheduled for redemption within one year) by irrevocably depositing with the trustee trust funds in an amount sufficient to pay the entire indebtedness on such Debt Securities for principal (and premium, if any) and interest to the date of such deposit (if such Debt Securities have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be.

We may, at our option and at any time, elect to have EUSHI Finance’s, as issuer, and each applicable Guarantor’s obligations discharged with respect to the Outstanding Debt Securities of or within any series, which we refer to as defeasance. Defeasance means that we shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Debt Securities and to have satisfied our other obligations under the relevant Indenture with respect to such Debt Securities, except for:

| • | the                                                                                         
 rights of holders of such Outstanding Debt Securities to receive solely from the trust fund 
 described below payments in respect of the principal of (and premium, if any) and interest