Company: FRFXF
Filing Date: 2025-03-14
Form Type: F-4
Source: 0001104659-25-024010
Chunk: 110

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-14
Form: F-4
Chunk 110
---
 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 Amounts are, were or would be payable in respect
thereof.

Redemption for Tax Reasons

In the event that the Company
has become or would become obligated to pay, on the next date on which any amount would be payable under or with respect to the Notes,
any Additional Amounts as a result of a change in the laws (including any regulations promulgated thereunder) or treaties of Canada (or
any political subdivision or taxing authority thereof or therein), or any change in any official position regarding the application or
interpretation of such laws, regulations or treaties, which change is announced and becomes