Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 119

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 119
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 which the
Parties deem it necessary, proper or advisable to obtain or make a Consent or Filing with such Governmental Entity to consummate the Merger), if the taking of such efforts or action with respect thereto would reasonably be expected to have,
individually or in the aggregate, a material adverse effect on the business, condition (financial or otherwise), properties, results of operations, liabilities, assets or operations of Parent and the Parent Subsidiaries and Parent’s
Affiliates, taken as a whole, or the Company and the Company Subsidiaries and the Company’s Affiliates, taken as a whole (any of the foregoing effects, a “”); that, for purposes of
determining whether a potential adverse effect would constitute a Burdensome Effect, Parent and the Parent Subsidiaries and Parent’s Affiliates, taken as a whole, shall be deemed to be a consolidated group of entities that is the size and
scale of the Company and the Company Subsidiaries and the Company’s Affiliates, taken as a whole. Notwithstanding the foregoing, no undertakings, commitments, actions, terms, conditions or obligations set forth in
, or shall constitute or be taken into account in determining whether there has been a Burdensome Effect. Neither Parent nor the
Company shall accept, or agree to accept, any commitments, actions or conditions in connection with the Merger pursuant to any settlement or otherwise with any Applicable PSC or any other Person without the prior written consent of the other Party,
which consent shall not be unreasonably withheld, conditioned or delayed. Nothing in this shall obligate Parent or the Company or any of their respective Subsidiaries or Affiliates to take any action that is not
conditioned on the Closing.

(f) Neither the Company nor Parent shall, and each shall cause its respective Subsidiaries and Affiliates not
to, take any action, including acquiring any asset, property, business or Person (by way of merger, consolidation, share exchange, investment, other business combination, asset, stock or equity purchase, or otherwise), that would reasonably be
expected to (i) materially increase the risk of not obtaining any Consent or Filing contemplated by this prior to the End Date or (ii) result in a Consent being required from a state public utility
commission (other than an Applicable PSC) in connection with the consummation of the Transactions, and, subject to applicable Law, including