Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 116

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 116
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 the securities then outstanding
to be due and payable immediately. If an event of default described in clause (e) above shall occur, other than with respect to
one of the Company’s or Allied World’s subsidiaries, the principal amount of all the securities will automatically, and without
any action by the trustee or any holder, become immediately due and payable. In each case, the holders of a majority in principal amount
of the outstanding Notes may under certain circumstances rescind and annul such declaration by written notice to the Company, Allied
World and the trustee. In the event of a declaration of acceleration because an event of default specified 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of such event of default has been discharged or the holders thereof have rescinded their declaration of acceleration in respect of such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