Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 114

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 114
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, conveyance, transfer or lease, and supplemental Indenture (if any), complies with this
covenant and that all conditions precedent provided for in the Indenture relating to such transaction have been complied with.

Available Information.So long as the Notes are “restricted securities” within the meaning of Rule 144 under the U.S.
Securities Act (“Rule 144”), both the Company and Allied World are not subject to the reporting requirements
of the Exchange Act, the Company and Allied World will furnish to any holder of Notes, or to any prospective purchaser designated by
such a holder, upon the request of the holder, the business and financial information concerning the Company and Allied World called
for under paragraph (d)(4) of Rule 144A.

Waiver of Certain Covenants.The Company and/or Allied World may elect in any particular instance to not comply with any term, provision
or condition of the covenants described above under “— Certain Covenants — Limitation on Liens on Capital Stock of
Restricted Subsidiaries” and “— Certain Covenants — Available Information” if the holders of at least a
majority in principal amount of all outstanding Notes issued under the Indenture and then outstanding waive compliance in such instance
with such term, provision or condition.

Third Supplemental Indenture. On February 26, 2021, the Company entered into the Third Supplemental Indenture to eliminate
or amend certain restrictive covenants of the Company. The Third Supplemental Indenture provides that the covenant described under “—
Certain Covenants — Limitation on Liens on Capital Stock of Restricted Subsidiaries” will be automatically eliminated or
amended effective as of the first date on which there are no securities outstanding of any series created pursuant to the Indenture prior
to February 26, 2021. The Third Supplemental Indenture also provides that if the Company grants any security interest to any collateral
agent or trustee pursuant to such covenant in connection with any series created after the date of the Third Supplemental Indenture,
such security interest shall be automatically released on the Amendment Date and any such collateral agent or trustee shall be authorized
to take such further actions as the Company may reasonably request to give effect to such release.

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Events of Default</div>

The following constitute
events of default with respect to the Notes under the Indenture: (a) a default for