Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 109

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 109
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 any payment made under or with respect to the Notes;
or (f) any combination of the foregoing clauses (a) to (e); nor shall such Bermuda Additional Amounts be paid with respect
to any payment on any Notes to a holder or beneficial owner who is a fiduciary or partnership or, other than the sole beneficial owner
of the Notes, to the extent that a beneficiary or settlor with respect to such fiduciary, or a member of such partnership or a beneficial
owner thereof would not have been entitled to receive a payment of such Bermuda Additional Amounts had such beneficiary, settlor, member
or beneficial owner received directly its beneficial or distributive share of such payment (collectively, “Excluded Bermuda Taxes”). Allied World shall also (a) make such withholding or deduction and (b) remit the full amount deducted
or withheld to the relevant authority in accordance with applicable law. Upon the written request of the trustee or a holder of the Notes,
Allied World will furnish, as soon as reasonably practicable, to the trustee or such holder, as applicable, certified copies of tax receipts
evidencing such payment by Allied World. Allied World shall indemnify and hold harmless each holder of the 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 Bermuda Taxes (other than Excluded Bermuda Taxes) so levied or imposed and paid by such Note holder or beneficial
owner as a result of any failure of Allied World 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 Bermuda Taxes (other than Excluded Bermuda 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 Bermuda Taxes
(other than Excluded Bermuda Taxes) on such reimbursement had not been imposed.

Whenever in the Indenture
there is mentioned, in any context, the payment of principal (and premium, if any), redemption price, interest or any other amount payable
under or with respect to the Notes, such mention shall be deemed to include mention of the payment of Additional Amounts and Bermuda
Additional Amounts to the extent that, in such context, Additional Amounts and Bermuda Additional