Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 111

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 111
---
 maturity 
 thereof;                                                                                                                                    |

| · | the principal amount of a Debt Security denominated in a Currency or Currencies other than U.S. dollars                                   
 shall be the U.S. dollar equivalent, determined as of the date such Debt Securities were originally issued, of the principal amount (or,  
 in the case of an Original Issue Discount Security, the U.S. dollar equivalent on the issue date of such Original Issue Discount Security 
 of the amount determined as provided in the first bullet above);                                                                          |

| · | the principal amount of any Indexed Security that may be counted in making such determination or calculation                           
 and that shall be deemed outstanding for such purpose shall be equal to the principal face amount of such Indexed Security at original 
 issuance; and                                                                                                                          |

| · | 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                                                       |

<div align='center'>19</div>

| · | 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