Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 83

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 83
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 subordinated indebtedness. The definition and description of senior indebtedness in the AXIS Finance PLC junior subordinated debt indenture is the same as the definition and description of senior indebtedness in the AXIS Finance PLC subordinated debt indenture as described above under the caption “— Subordination Under the AXIS Finance PLC Subordinated Debt Indenture.”

The AXIS Finance PLC 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 AXIS Finance PLC’s subordinated indebtedness, whether incurred prior to or after the date of the AXIS Finance PLC 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 AXIS Finance PLC junior subordinated debt securities.

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

The holders of all AXIS Finance PLC senior indebtedness and all AXIS Finance PLC subordinated indebtedness will be entitled to receive payment of the full amount due on that indebtedness before the holders of any AXIS Finance PLC 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 AXIS Finance PLC or its 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 AXIS Finance PLC or its property.

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

The obligations of AXIS Capital under its guarantees will be junior subordinated obligations of AXIS Capital. As such, the rights of holders to receive payment pursuant to guarantees will be subordinated in right of payment to the rights of holders of senior indebtedness and