Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 106

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 106
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Additional Amounts”) as may be necessary so that the net amount
received by each holder of such Notes or the beneficial owner thereof (including Additional Amounts) after such withholding or deduction
will not be less than the amount such holder or beneficial owner would have received if such Taxes had not been withheld or deducted;
provided that no Additional Amounts will be payable with respect to: (a) any payment made to a holder of the Notes or beneficial
owner who is liable for such Taxes in respect of such Notes (i) by reason of such holder or beneficial owner, or any other person
entitled to payments on the Notes, being a person with which the Company does not deal at arm’s length (within the meaning of the
Income Tax Act(Canada) (the “Canadian Tax Act”)), (ii) by reason of such holder or beneficial owner being
a “specified shareholder” of the Company or not dealing at arm’s length with a “specified shareholder” of
the Company (as defined in subsection 18(5) of the Canadian Tax Act), (iii) by reason of such holder or beneficial owner being
a “specified entity” as defined in revised proposals to amend the Canadian Tax Act on November 28, 2023, with respect
to “hybrid mismatch arrangements” (which were enacted on June 20, 2024), (iv) by reason of the existence of any
present or former connection between such holder or beneficial owner (or between a fiduciary, settlor, beneficiary, member or shareholder
of, or possessor of power over, such holder or beneficial owner, if such holder or beneficial owner is an estate, trust, partnership,
limited liability company or corporation) and Canada or any province or territory thereof or therein or agency thereof or therein other
than the mere acquisition, holding, use or ownership or deemed holding, use or ownership, or receiving payments or enforcing any rights
in respect of such Notes as a non-resident or deemed non-resident of Canada or any province or territory thereof or therein or agency
thereof or therein, or (v) by reason of such holder or beneficial owner’s failure to comply with any certification, identification,
documentation or other reporting requirements if compliance is required by law, regulation, administrative practice or an applicable treaty
as a pre-condition to exemption from, or a reduction in the rate of deduction or withholding of, such Taxes, in each case, to the extent
such holder or beneficial holder is legally entitled to such