Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 107

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 107
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 or a member of such partnership or a beneficial
owner thereof would not have been entitled to receive a payment of such Additional Amounts had such beneficiary, settlor, member or beneficial
owner received directly its beneficial or distributive share of such payment (collectively, “Excluded Taxes”). The
Company will also (a) make such withholding or deduction and (b) remit the full amount deducted or withheld to the relevant
authority in accordance with applicable law. Upon the written request of the trustee or a holder of Notes, the Company will furnish,
as soon as reasonably practicable, to the trustee or such holder of Notes, as applicable, certified copies of tax receipts evidencing
such payment by the Company. The Company will indemnify and hold harmless each holder of Notes and any beneficial owner thereof and,
upon written request of any such holder or beneficial owner, reimburse such holder or beneficial owner for the amount of (i) any
such Taxes (other than Excluded Taxes) so levied or imposed and paid by such holder or beneficial owner as a result of any failure of
the Company to withhold, deduct or remit to the relevant tax authority, on a timely basis, the full amounts required under applicable
law and (ii) any such Taxes (other than Excluded Taxes) so levied or imposed with respect to any reimbursement under the foregoing
clause (i), so that the net amount received by such holder or beneficial owner after such reimbursement would not be less than the net
amount such holder or beneficial owner would have received if such Taxes (other than Excluded Taxes) on such reimbursement had not been
imposed.

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All payments made by Allied
World on the Notes will be made free and clear of, and without withholding or deduction for or on account of, any present or future tax,
duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Bermuda or by any
authority or agency therein or thereof having power to tax (hereinafter “Bermuda Taxes”), unless Allied World is required
to withhold or deduct Bermuda Taxes by law or by the interpretation or administration thereof. If Allied World is so required to withhold
or deduct any amount for or on account of Bermuda Taxes from any payment made under or with respect to the Notes, Allied World will pay
as interest such additional amounts (“Bermuda Additional Amounts”) as may be necessary so that the net amount received
by