3. Standstill.
Each party hereby represents to the other party that, as of the date hereof, neither it nor any of its affiliates has beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of any securities of the other party or any of its subsidiaries (other than securities owned by any benefit plan of such party). Each party further covenants and agrees, in consideration of it being furnished with Proprietary Information, that neither it nor any of its affiliates who have received or had access to the Proprietary Information of the other party (a "Restricted Affiliate") will, at any time commencing on the date hereof and ending on the earliest of (a) the twelve (12) month anniversary of this Agreement, (b) the execution and delivery by Fairfax (or its affiliate(s)) and Allied World of a definitive agreement to effect the Possible Transaction and (c) a Fundamental Change Event (as defined below) with respect to the other party, directly or indirectly, unless requested in writing (or by email) by the other party's chief executive officer, chairman or board of directors: (i) acquire (or agree, offer, seek or propose to acquire, in each case, publicly or privately), by purchase, tender offer, exchange offer, agreement or business amalgamation or combination or in any other manner, any ownership, including beneficial ownership, as defined in Rule 13d-3 under the Exchange Act, of any material assets or businesses or any securities of the other party or any of its subsidiaries, or any rights or options to acquire such ownership (including from any third party); (ii) publicly or privately offer to enter into, or publicly or privately propose, any merger, business combination, amalgamation, recapitalization, restructuring or other extraordinary transaction with the other party or any of its subsidiaries; (iii) initiate any stockholder proposal or the convening of a stockholders' meeting of or involving the other party or any of its subsidiaries; (iv) solicit proxies (as such terms are defined in Rule 14a-1 under the Exchange Act) or consents to vote with respect to any matter from, or otherwise seek to influence, advise or direct the vote of, holders of any shares of capital stock of the other party or any securities convertible into or exchangeable or exercisable for such capital stock; (v) otherwise seek or propose to influence, advise, change or control the management, board of directors, governing instruments, affairs or policies of the other party or any of its subsidiaries; (vi) make any public disclosure, or take any action that could reasonably be expected to require the other party to make a public disclosure, with respect to any of the matters set forth in this Agreement or (vii) assist, advise, act in concert or participate with or encourage others to, including as part of a "group" within the meaning of Section 13(d)(3) of the Exchange Act, any of the foregoing; provided, however, that nothing in this Agreement shall prohibit a party from making a non-public proposal to the other party with respect to any transaction of the type described in clause (ii) of this Paragraph 3, so long as such proposal is not knowingly made by such party in a manner that would require the public disclosure thereof by either party. A "Fundamental Change Event" means a party has after the date of this Agreement entered into a definitive written agreement with a third party providing for (i) any acquisition of a majority of the voting securities of such party by any person or group, (ii) any acquisition of a majority of the consolidated assets of such party and its subsidiaries by any person or group, or (iii) any tender or exchange offer, merger or other business combination, amalgamation or any recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction (provided that, in the case of any transaction covered by the foregoing clause (iii), immediately following such transaction, any person (or the direct or indirect shareholders of such person) will beneficially own a majority of the outstanding voting power of such party or the surviving parent entity in such transaction).
【参考訳】ここに、各当事者は他方の当事者に対して、契約締結日時点で、自己またはその関連会社が他方の当事者またはその子会社の証券（当該当事者の福利厚生計画により所有されている証券を除く）の有益所有権（Exchange ActのRule 13d-3で定義されるもの）を有していないことを表明します。さらに、各当事者は、他方の当事者の独自情報に接触したまたはアクセスした自己またはその関連会社（「制限付き関連会社」という）が、以下の(i)から(vii)までの行為を開始または行うことがないことを約束し、同意します。ただし、これは契約締結日から最初に訪れる日まで（a）本契約の12か月目の記念日、（b）Fairfax（またはその関連会社）とAllied Worldが可能な取引を実行するための確定的な契約を締結し交付する日、または（c）他方の当事者に関する基本的な変更イベント（以下で定義）が発生する日までの期間を指します。ただし、他方の当事者の最高経営責任者、会長、または取締役会から書面（または電子メール）で要求された場合を除きます。「基本的な変更イベント」とは、契約締結日後に、当事者が（i）その当事者の選挙権を持つ証券の過半数を取得するため、または（ii）その当事者及びその子会社の統合資産の過半数を取得するため、または（iii）株式の公募や株式交換、合併やその他の事業結合、組織再編、再構築、清算、解散またはその他の特別な取引（ただし、当該取引が（iii）の範囲に含まれる取引の場合は、取引直後に、その当事者（またはその直接的または間接的な株主）が当該当事者またはその取引で生き残る親エンティティの有表決権を持つ株式の過半数を有益に所有するような状況を含む）を行うことについて、第三者との間で確定的な書面による契約を締結した場合を指します。
