Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 44

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 44
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 default in payment of any senior indebtedness or if any event of default exists under the terms of any senior indebtedness.

Subordination Under the Junior Subordinated Debt Indenture

The junior subordinated debt indenture provides that payment of the principal of and any premium and interest on and additional amounts with respect to debt securities issued under the junior subordinated debt indenture will be subordinate and junior in right of payment, to the extent and in the manner set forth in that indenture, to all our senior indebtedness and subordinated indebtedness. The definition and description of senior indebtedness in the junior subordinated debt indenture is the same as the definition and description of senior indebtedness in the subordinated debt indenture as described above under the caption “— Subordination Under the Subordinated Debt Indenture.”

The junior subordinated debt indenture defines subordinated indebtedness as the principal of and any premium and interest on and additional amounts with respect to (1) all our subordinated indebtedness, whether incurred prior to or after the date of the junior subordinated indenture, and (2) all deferrals, renewals, extensions and refundings of, and amendments, modifications and supplements to, any such subordinated indebtedness, other than any indebtedness which, by its terms or the terms of the instrument creating or evidencing it, is subordinate in right of payment to or pari passu with the junior subordinated debt securities.

The junior subordinated debt indenture does not limit the amount of senior indebtedness or subordinated indebtedness that we can incur.

The holders of all senior indebtedness and all subordinated indebtedness will be entitled to receive payment of the full amount due on that indebtedness before the holders of any junior subordinated debt securities receive any payment on account of such junior subordinated debt securities, in the event:

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of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceedings in respect of us or our property; or

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that debt securities of any series are declared due and payable before their expressed maturity because of an event of default other than an insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding in respect of us or our property.

We may not make any payment of the principal or interest on the junior subordinated debt securities during a continued default in payment of any senior indebtedness or any subordinated indebtedness or if any event of default exists under the terms of any