Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 122

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 122
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 payment on any security when due, (g) reduce the percentage in principal
amount of securities of any series whose consent is necessary to modify or amend the Indenture or to waive compliance with certain provisions
of the Indenture or certain defaults and their consequences or (h) modify the foregoing requirements, except to increase any percentage
or to provide that certain provisions of the Indenture cannot be modified or waived without the consent of the holder of each outstanding
security affected thereby.

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Enforceability of Judgments</div>

Fairfax

Since some of the Company’s
assets are in Canada, any judgment obtained outside of Canada against the Company, including any judgment with respect to the payment
of principal or interest on the Notes may not be collectible outside of Canada.

The Company has been informed
by counsel to the Company that a court of competent jurisdiction in the Province of Ontario (an “Ontario Court”) would
give a judgment based upon a final and conclusive in personamjudgment of a court exercising jurisdiction in the Borough of New
York, The City of New York, State of New York (a “New York Court”) for a sum certain, obtained against the Company,
with respect to a claim arising out of the Indenture (in respect of the Notes) or the Notes (a “New York Judgment”),
without reconsideration of the merits, provided that (i) an action to enforce the New York Judgment must be commenced in the Ontario
Court within any applicable limitation period; (ii) the Ontario Court has discretion to stay or decline to hear an action on the
New York Judgment if the New York Judgment is under appeal or there is another subsisting judgment in any jurisdiction relating to the
same cause of action; (iii) the Ontario Court will render judgment only in Canadian dollars; (iv) an action in the Ontario
Court on the New York Judgment may be affected by bankruptcy, insolvency or other similar laws affecting the enforcement of creditors’
rights generally; and (v) an action in the Ontario Court on the New York Judgment would be subject to the following defenses: (A) the
New York Judgment was obtained by fraud or in a manner contrary to the principles of natural justice but the New York Judgment would
not be contrary to natural justice by reason only that service of process was effected on the agent for service of process appointed
by the Company pursuant to the Indenture; (B) the New York Judgment is for a