Common use of Redemption for Tax Purposes Clause in Contracts

Redemption for Tax Purposes. The Issuer may redeem the Securities at our option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the Issuer, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to us, there is a substantial probability that we will be required as of the next interest payment date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer elects to redeem the Securities under this provision, the Issuer will give written notice of such election to the Trustee and the Holders of the Securities. Interest on the Securities will cease to accrue unless the Issuer defaults in the payment of the redemption price.

Redemption for Tax Purposes. The Issuer Unless otherwise provided in the Board Resolution or supplemental indenture pursuant to Section 3.1 establishing the terms of a particular series of a Securities, the Company or any successor Person appointed pursuant to Section 11.3 may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer receives an opinion of counsel that if as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda the Relevant Jurisdiction or any taxing jurisdiction authority in the Relevant Jurisdiction (or of any political subdivision or taxation authority affecting taxationsubdivision) or any change in the application or official interpretation of such laws, regulations or rulingsrulings occurring, in the case of a redemption by the Company, on or (2) after the date of issuance of the relevant series of Securities or, in the case of a redemption any action taken by a taxing authority of Bermuda successor Person appointed pursuant to Section 11.3, on or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) after the date on which action is generally applied or is taken with respect to the Issuersuccessor Person assumes the obligation under the Securities, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to us, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be takennot involving any material additional payments or expense by the Company) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to Article XIV hereof. Prior to giving the notice of a tax redemption, the Company will deliver to the trustee an Officer’s Certificate stating that the Company is entitled to effect the redemption and setting forth a statement of facts showing that the conditions precedent to the Company’s right to so redeem have occurred.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemptionRedemption Date, at any time the Issuer Company receives an opinion Opinion of counsel Counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or of any political subdivision or taxation taxing authority thereof or therein affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivision or taxing authority thereof or therein) affecting taxation) , which action is applied generally applied or is taken with respect to the IssuerCompany, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivisionsubdivision thereof) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 1005 and such requirements requirement cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer Company will give written notice of such election at least 15 days but no more than 60 days before the Redemption Date to the Trustee and the Holders of the SecuritiesHolders. Interest on the Securities will cease to accrue on the Redemption Date unless the Issuer Company defaults in the payment of the redemption priceRedemption Price set forth in this Section 1108.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities Notes at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer Company receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, treaties regulations or rulings, or (2) any action taken by a taxing authority of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date or maturity date to pay Additional Amounts with respect to the Securities Notes as provided in Section 4.4 1007 above, and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities Notes under this provision, the Issuer will give written notice of such election to the Trustee and the Holders of the SecuritiesNotes. Interest on the Securities Notes will cease to accrue unless the Issuer defaults in the payment of the redemption price.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities Notes at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer Company receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities Notes as provided in Section 4.4 10.8, and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities Notes under this provision, the Issuer Company will give written notice of such election to the Trustee and the Holders Holders. If the Company elects to redeem the Notes under this Section 10.9 it will also mail a notice of redemption at least thirty (30) days but no more than sixty (60) days before the SecuritiesRedemption Date to each Holder. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Notes. Any such redemption pricewill be subject to Article 11 hereof.

Redemption for Tax Purposes. The Issuer may redeem the Securities at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemptionredemption date, at any time the Issuer receives an opinion Opinion of counsel Counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or of including any political subdivision thereof or taxation authority therein affecting taxation) or (2) any change in the application or official interpretation of such laws, regulations or rulingsrulings (including, or (2) for the avoidance of doubt, any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) Taxing Jurisdiction, which action is applied generally applied or is taken with respect to the Issuer, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) a Taxing Jurisdiction whether or not such decision was rendered with respect to usthe Issuer), there is a substantial probability that we the Issuer will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 3.11 and such requirements requirement cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer elects to redeem the Securities under this provision, the Issuer will give written notice of such election at least 30 days but no more than 60 days before the redemption date to the Trustee and the Holders of the Securities. Interest on the Securities will cease to accrue as of the redemption date unless the Issuer defaults in the payment of the redemption priceprice set forth in this Section 3.12.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer it receives an opinion of counsel that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, treaties, regulations or rulingsrulings (including a holding, judgment or order by a court of competent jurisdiction) which change on position becomes effective after the issuance of the Securities, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany or the Guarantor, or (3iii) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company or the Guarantor, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to ARTICLE 14 hereof.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer it receives an opinion of counsel that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3iii) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to ARTICLE 16 hereof.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer it receives an opinion of counsel that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3iii) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to Article XV hereof.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, if at any time the Issuer receives an opinion of counsel it determines in good faith that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or of any political subdivision or taxation authority thereof affecting taxation) or any change in the position regarding the application or official interpretation of such laws, treaties, regulations or rulingsrulings (including a holding, judgment or order by a court of competent jurisdiction) which change in position becomes effective after the issuance of the Securities, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivision or taxing authority thereof affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to us, there is a substantial probability that we will the Company would be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to ARTICLE 14 hereof. Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days prior to the earliest date on which the Company would be obliged to make such payment of Additional Amounts or withholding if a payment in respect of the Securities were then due. In any event, prior to the publication or mailing or any notice of redemption of the Securities pursuant to the foregoing, the Company will deliver to the Trustee an opinion of independent tax counsel of recognized standing reasonably satisfactory to the Trustee to the effect that the circumstances referred to above exist. The Trustee will accept such opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities.

Redemption for Tax Purposes. The Issuer may redeem the Securities at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Relevant Tax Jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda or any taxing jurisdiction Relevant Tax Jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the Issuer, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction Relevant Tax Jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Issuer, there is a substantial probability that we the Issuer will be required as of the next interest payment date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer elects to redeem the Securities under this provision, the Issuer will give written notice of such election at least 30 days but no more than 60 days before the redemption date to the Trustee and the Holders of the Securities. Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days prior to the earliest date on which the Issuer would be obliged to make such payment of Additional Amounts or withholding if a payment in respect of the Securities were then due. Interest on the Securities will cease to accrue unless the Issuer defaults in the payment of the redemption price. Any such redemption will be subject to Article XII hereof.

Redemption for Tax Purposes. The Issuer may redeem the Securities at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda [the Republic of India] or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda [the Republic of India] or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the Issuer, or (3) a decision rendered by a court of competent jurisdiction in Bermuda [the Republic of India] or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Issuer, there is a substantial probability that we the Issuer will be required as of the next interest payment date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer elects to redeem the Securities under this provision, the Issuer will give written notice of such election to the Trustee and the Holders of the Securities. Interest on the Securities will cease to accrue unless the Issuer defaults in the payment of the redemption price.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, if at any time the Issuer receives an opinion of counsel it determines in good faith that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or of any political subdivision or taxation authority thereof affecting taxation) or any change in the position regarding the application or official interpretation of such laws, treaties, regulations or rulingsrulings (including a holding, judgment or order by a court of competent jurisdiction) which change in position becomes effective after the issuance of the Securities, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction Taxing Jurisdiction (or any political subdivision or taxing authority thereof affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany or the Guarantor, or (3) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to us, there is a substantial probability that we will the Company would be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to ARTICLE 14 hereof. Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days prior to the earliest date on which the Company would be obliged to make such payment of Additional Amounts or withholding if a payment in respect of the Securities were then due. In any event, prior to the publication or mailing or any notice of redemption of the Securities pursuant to the foregoing, the Company will deliver to the Trustee an opinion of independent tax counsel of recognized standing reasonably satisfactory to the Trustee to the effect that the circumstances referred to above exist. The Trustee will accept such opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities.

Redemption for Tax Purposes. The Issuer Company may redeem the Securities at our its option, in whole but not in part, at a redemption price Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer it receives an opinion of counsel that as a result of (1i) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the IssuerCompany, or (3iii) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Company, there is a substantial probability that we the Company will be required as of the next interest payment date Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to ARTICLE 15 hereof.

Redemption for Tax Purposes. The Issuer may Company will be entitled to redeem the Securities at our its option, at any time, for cash, in whole but not in part, upon not less than 30 nor more than 60 days’ prior written notice, at a redemption price equal to 100% of the principal amountamount thereof, together with plus any accrued and but unpaid interest and Additional Amountsto, if anybut not including, the Redemption Date (subject to the right of holders of record on the relevant record date, whether or not a business day, to receive interest due on the relevant interest payment date), in the event that the Payor has become or would become obligated to pay, on the next date fixed for redemptionon which any amount would be payable with respect to the Securities, at any time the Issuer receives an opinion of counsel that Additional Amounts as a result of (1i) a change in or an amendment to the laws (including any regulations promulgated thereunder) of a Relevant Tax Jurisdiction, which change or amendment is announced after the date of the offering memorandum relating to the Securities or (ii) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in official position regarding the application or official interpretation of such lawslaws or regulations, regulations which change or rulings, or (2) any action taken by a taxing authority amendment is announced after the date of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect the offering memorandum relating to the IssuerSecurities, or (3) a decision rendered and, in each case, the Payor cannot avoid such obligation by a court taking reasonable measures available to it. Before any notice of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to us, there is a substantial probability that we will be required as redemption of the next interest payment Securities is delivered to the Holder as described above, the Company will deliver to the Trustee, at least 30 days before the date set for redemption, in each case, an Officers’ Certificate and an opinion of counsel stating that the Payor has or will become obligated to pay Additional Amounts with respect to as a result of a change in tax laws or regulations or the Securities as provided in Section 4.4 and application or interpretation of such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed laws or in effect at the time such measures could be taken) then availableregulations. If the Issuer Company elects to redeem the Securities under this provision, the Issuer provision it will give written notice of such election to the Trustee and Trustee. If the Holders Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each Holder of the SecuritiesSecurities to be redeemed. Interest on Unless the Securities will cease to accrue unless the Issuer Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such redemption pricewill be subject to Article 14 hereof.

Redemption for Tax Purposes. The Issuer may redeem the Securities at our its option, in whole but not in part, at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time the Issuer receives an opinion of counsel that as a result of (1) any change in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda the Republic of India or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the application or official interpretation of such laws, regulations or rulings, or (2) any action taken by a taxing authority of Bermuda the Republic of India or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action is generally applied or is taken with respect to the Issuer, or (3) a decision rendered by a court of competent jurisdiction in Bermuda the Republic of India or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with respect to usthe Issuer, there is a substantial probability that we the Issuer will be required as of the next interest payment date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Issuer elects to redeem the Securities under this provision, the Issuer will give written notice of such election to the Trustee and the Holders of the Securities. Interest on the Securities will cease to accrue unless the Issuer defaults in the payment of the redemption price.