Company: EMICF
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0000950103-25-012357
Chunk: 52

Company: EMERA INC
Filing Date: 2025-09-29
Form: 424B2
Chunk 52
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 or with respect
to the Notes or the Guarantees, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that,
in such context, Additional Amounts are, were or would be payable in respect thereof.

Events of Default

The Indenture provides, with
respect to the Notes, that any of the following events constitutes an Event of Default:

| (1) | the Issuer defaults in the payment of any interest on the Notes that becomes due and payable and the default                             
 continues for 60 days (whether or not such payment is prohibited by the subordination provisions applicable to the Notes), except as the 
 result of a deferral of interest payments in accordance with the provisions discussed above under “—Option to Defer Interest             
 Payments”;                                                                                                                               |

<div align='center'>S-28</div>

| (2) | the Issuer defaults in the payment of principal of or premium, if any, on the Notes when due and payable                              
 (whether or not such payment is prohibited by the subordination provisions applicable to the Notes), at its maturity, upon redemption 
 (including with respect to a Tax Event or a Rating Agency Event), upon acceleration or otherwise;                                     |

| (3) | the Issuer, Emera or EUSHI, as applicable, defaults in the performance of, or breaches any other covenant                                  
 or warranty (excluding covenants and warranties solely applicable to one or more other series of subordinated debt securities issued under 
 the Indenture) in, the Indenture or the Notes and such default or breach continues for a period of 90 days after written notice of such    
 default or breach has been given to the Issuer, Emera and EUSHI, from the Trustee or to the Issuer, Emera, EUSHI, and the Trustee from     
 the holders of at least 25% in principal amount of the outstanding Notes;                                                                  |

| (4) | Indebtedness (as defined in the Indenture) of the Issuer, Emera or EUSHI, as applicable, is accelerated                                  
 by the holders thereof because of a default and the total amount of such Indebtedness unpaid or accelerated exceeds in the aggregate the 
 greater of US$800,000,000 and 3% of Emera’s consolidated net assets;                                                                     |

| (5) | certain events of bankruptcy, insolvency or reorganization of the Issuer, Emera or EUSHI;