Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 117

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 117
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 in clause (d) above has occurred
and is continuing, such declaration of acceleration shall be automatically annulled if the indebtedness which is the subject of such event
of default has been discharged or the holders thereof have rescinded their declaration of acceleration in respect of such indebtedness,
and written notice of such discharge or rescission is given to the trustee by the Company, Allied World and countersigned by the holders
of such indebtedness or their representative, within 30 days after such declaration of acceleration in respect of the Notes, and no other
event of default has occurred during such 30-day period which has not been cured or waived during such period.

The holders of not less than
a majority in principal amount of the outstanding Notes, in the case of an event of default applicable to such series but not to all outstanding
securities, or a majority in principal amount of the outstanding securities of all series, in the case of an event of default applicable
to all outstanding securities, may waive any past default and its consequences, except a default in respect of the payment of the principal
of (or premium, if any, on) or interest on any security or in respect of a covenant or provision of the Indenture which cannot be modified
or amended without the consent of the holder of each outstanding security affected thereby.

The Indenture provides that
the trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction
of holders of securities unless such holders shall have offered to the trustee reasonable funding, security and indemnity against the
costs, expenses and liabilities which might be incurred by the trustee in compliance with such request or direction. Subject to such provisions
for the indemnification of the trustee, the holders of not less than a majority in principal amount of the securities of any series (with
respect to any remedy, trust or power relating to any default in payment of principal (or premium, if any, on) or interest on the securities
of such series or any default in the performance or breach of any other covenant or warranty of the Company or Allied World applicable
to the securities of such series but not applicable to all outstanding securities issued under the Indenture) or the holders of not less
than a majority in principal amount of all securities issued under the Indenture and then outstanding (treated as one class) (with respect
to any other remedy, trust or power) shall have the right to direct the time,