Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 118

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 118
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 method and place of conducting any proceeding for any remedy
available to the trustee, or exercising any trust or power conferred on the trustee, with respect to such securities.

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Co-Obligors and/or Guarantors</div>

When authorized by a resolution
of the Company’s and Allied World’s board of directors and without the consent of any holders of the Notes, the Company, Allied
World and the trustees may enter into a supplemental indenture to the Indenture in respect of the Notes (but not with respect to any other
series of outstanding securities), in accordance with the terms of the Indenture, for the purpose of adding one or more of the Company’s
or Allied World’s subsidiaries as an additional co-obligor (whether as an additional issuer or a guarantor) of the Notes and the
Indenture (each, a “Co-Obligor”); providedthat any such Co-Obligor shall be organized or formed under the laws
of (1) any state of the United States or the District of Columbia, (2) Canada or any province or territory thereof, (3) the
United Kingdom, (4) Bermuda, (5) Barbados or (6) any country that is a member of the European Union. Any such supplemental
indenture entered into for the purpose of adding a Co-Obligor formed under any jurisdiction other than a state of the United States (each,
a “Non-U.S. Co-Obligor”) shall include a provision for (i) the payment of additional amounts in the form substantially
similar to that described in “— Optional Redemption — Payment of Additional Amounts” above, with such modifications
as the Company, Allied World and such Non-U.S. Co-Obligor reasonably determine are customary and appropriate for U.S. and Canadian bondholders
to address then-applicable (or potentially applicable future) taxes, duties, levies, imposts, assessments or other governmental charges
imposed or levied by or on behalf of the applicable governmental authority in respect of payments made by such Non-U.S. Co-Obligor under
or with respect to the Notes, including any exceptions thereto as the Company, Allied World and such Non-U.S. Co-Obligor shall reasonably
determine would be customary and appropriate for U.S. and Canadian noteholders and (ii) the right of the Company, Allied World or
the Co-Obligor to redeem the Notes at 100