Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 60

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 60
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The Issuer may discharge
or defease its obligations under the Notes as set forth below.

Under terms specified in
the Indenture, the Issuer may discharge certain obligations to holders of the Notes that have not already been delivered to the Trustee
for cancellation. The Notes must also:

| · | have become due and payable; |

| · | be due and payable by their terms within one year; or |

| · | be scheduled for redemption by their terms within one year. |

The Issuer may discharge
the Notes by, among other things, irrevocably depositing an amount certified to be sufficient to pay at final maturity, or upon redemption
(including with respect to a Tax Event or a Rating Agency Event), the principal, premium, if any, and interest on the Notes. The Issuer
may make the deposit in cash, U.S. Government Obligations, or a combination thereof, as defined in the Indenture.

The Issuer may terminate
all its obligations under the Notes and the Indenture at any time, except for certain obligations, including those respecting the defeasance
trust and obligations to register the transfer or exchange of the Notes, to replace mutilated, destroyed, lost or stolen Notes and to
maintain a registrar and paying agent in respect of the Notes. This is referred to as “legal defeasance.” If the Issuer exercises
its legal defeasance option with respect to the Notes, the Guarantees in effect at such time will terminate with respect to the Notes.

Under terms specified in
the Indenture, the Issuer and the Guarantors may be released with respect to any outstanding Notes from the obligations imposed by the
sections of the Indenture that contain the covenants described above under “—Guarantees,” and “—Consolidation,
Merger, Conveyance or Transfer.” In that case, the Issuer and the Guarantors would no longer be required to comply with these sections
without the creation of an Event of Default under the Notes. This is typically referred to as “covenant defeasance.” If the
Issuer exercises the covenant defeasance option with respect to the Notes, the Guarantees of the Notes in effect at the time will terminate.
The Issuer may exercise the legal defeasance option notwithstanding the prior exercise of the covenant defeasance option.

Legal defeasance or covenant
defeasance with respect to the Notes may be effected by