Company: EMICF
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0000950103-25-012565
Chunk: 22

Company: EMERA INC
Filing Date: 2025-09-30
Form: 424B2
Chunk 22
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 benefit of the Guarantor, the obligations of the Guarantor were incurred for less than fair consideration.

A court could thus void the
obligations under each Guarantee or subordinate each Guarantee to each Guarantor’s other debt or take other action detrimental to
holders of the Notes.

Canadian bankruptcy and
insolvency laws may impair the Trustee’s ability to enforce remedies under the Notes.

Emera is a company governed
by the laws of the Province of Nova Scotia, Canada, and a portion of its assets are located in Canada. Therefore, Canadian bankruptcy
and insolvency laws will apply in the event of Emera’s bankruptcy or insolvency.

Canadian bankruptcy, insolvency,
winding-up, reorganization and other restructuring or similar corporate arrangement legislation (collectively, “Canadian insolvency
laws”), may impair, delay, stay, compromise, or otherwise restrict the rights of the Trustee, as applicable, to enforce remedies
under the Indenture governing the Notes or the Guarantees, or the Notes or the Guarantees if the benefit of applicable Canadian insolvency
laws is sought with respect to Emera. For example, the Bankruptcy and Insolvency Act (Canada) and the Companies’ Creditors Arrangement Act(Canada), the Winding-Up and Restructuring Act (Canada) and other corporate arrangement legislation each contain
provisions enabling a debtor to obtain a stay of proceedings or other rights and remedies in favor of itself and its property against
its creditors and others and to prepare and file a restructuring proposal, a plan of arrangement or a plan of compromise or arrangement
to be voted on by the various classes of its affected creditors. A restructuring proposal, plan of arrangement or plan of compromise or
arrangement, as applicable, if accepted by the requisite majorities of each affected class of creditors, and if approved by the relevant
Canadian court and implemented, would be binding on all affected creditors within each affected class, including those affected creditors
that did not vote to accept the proposal, plan of arrangement or plan of compromise or arrangement. In addition, the relevant Canadian
court may, subject to certain conditions, create court-ordered charges on the assets of the debtor to secure interim financing, professional
fees, post-filing amounts owing to critical suppliers, director liabilities or other obligations, in priority to the security interests
that secure the Notes and the Guarantees. Moreover, Canadian insolvency laws, in certain instances, permit the debtor (or its court appointed
receiver) to retain possession and administration