Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 205

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 205
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 implementation, repeal, modification, reinterpretation or proposal of any applicable law (or the enforcement or interpretation thereof) by any governmental authority, or any panel or advisory body empowered or appointed thereby, in each case, 
 enacted after the date of the Merger Agreement;                                                                                                                                                                                                    |

| (F) | the taking of any action, or refraining from taking any action, in each case at the express written direction 
 of Enfusion or as expressly required by the Merger Agreement;                                                 |

| (G) | any outbreak, continuation or escalation of acts of terrorism, hostilities, sabotage or war (whether or not                                                                                                                                                                                                                                                                                                                   
 declared, including the Russian-Ukrainian and Israeli-Palestinian conflicts, and escalations and effects thereof), hurricanes, volcanoes, tornados, floods, earthquakes, tsunamis, mudslides, weather-related events, epidemics, pandemics (including COVID-19), plagues, other outbreaks of illness or public health events, fires or natural or man-made disaster or act of God, including any worsening of such conditions 
 existing as of the date of the Merger Agreement; or                                                                                                                                                                                                                                                                                                                                                                           |

| (H) | any failure by Clearwater to meet, or changes to, internal or analysts’ estimates, projections,                                                                                                                                                      
 expectations, budgets or forecasts of operating statistics, revenue, earnings, cash flow or any other financial or performance measures (whether made by Clearwater or any third parties), any change in Clearwater’s credit ratings, or any change  
 in the price or trading volume of shares of Clearwater Common Stock (the underlying causes of such failures or changes in this clause (J) may be taken into account in determining whether a Clearwater Material Adverse Effect has occurred, unless 
 such underlying cause would otherwise be excepted by this definition);                                                                                                                                                                               |

providedthat in the case of clauses (B), (D), (E) and (G), any Effect may be taken into account in determining whether or not there has been a Clearwater Material Adverse Effect, but only to the extent such Effect has had or would reasonably be expected to have, individually or in the aggregate, a disproportionate adverse effect on Enfusion and its subsidiaries, taken as a whole, as compared to other similarly situated participants in the industry in which Enfusion and its subsidiaries operate, in which case only the incremental disproportionate impact or impacts may be taken into account in determining whether or not there has been a Clearwater Material Adverse Effect. Conduct of Business of Enfusion