Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 108

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 108
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 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 each holder or the beneficial owner thereof (including Bermuda Additional Amounts) after such withholding or deduction will not be
less than the amount such holder or beneficial owner would have received if such Bermuda Taxes had not been withheld or deducted; provided
that no Bermuda Additional Amounts shall be payable with respect to: (a) any Bermuda Tax which would not have been imposed but for
the fact that such holder or beneficial owner (i) was a resident, domiciliary or national of, or engaged in business or maintained
a permanent establishment or was physically present in, Bermuda or any political subdivision thereof or otherwise had some connection
with