Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 86

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 86
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 any required amortization payments and mandatory prepayments and (C) Indebtedness arising under the agreements disclosed in
of the Company Disclosure Schedule, in each case, in accordance with the terms of the instrument governing such Indebtedness as in effect on the date hereof;

(vii) . Create, incur, assume or otherwise be liable with respect to any Indebtedness, other
than (A) in the ordinary course of business consistent with past practice, (B) Indebtedness incurred by any Company Subsidiary under any loan permitted by , (C) in connection with a refinancing
of existing Indebtedness on commercially reasonable terms, (D) for borrowings under the Company’s and any Company Subsidiary’s existing commercial paper programs or revolving credit

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facilities, (E) guarantees and other credit support (including pursuant to support agreements) by the Company of existing Indebtedness of any wholly owned Company Subsidiary in the ordinary
course of business or (F) guarantees and other credit support by any Company Subsidiary of obligations of any wholly owned Company Subsidiary in the ordinary course of business; that, in the case of each of clauses (A)
through (F), (1) such actions are not reasonably likely to cause any of Fitch Ratings, Inc., S&P Global Ratings or Moody’s Investors Service to recognize the Company’s corporate credit rating to be less than investment grade and
(2) in no event shall any Indebtedness incurred pursuant to this or any amendment, modification or waiver to any Indebtedness include any term or provision pursuant to which the consummation of the
Merger or the other Transactions would reasonably be expected to result in a breach, default or event of default with respect to such Indebtedness or permit the holders of any Indebtedness of the Company or any Company Subsidiary to accelerate
payment of such Indebtedness or require the Company or any Company Subsidiary to voluntarily or involuntarily redeem, replace or repay such Indebtedness prior to its scheduled maturity;

(viii) . (A) Acquire (whether by merger, consolidation, purchase or otherwise)
any water or wastewater assets or any equity interests therein, or make investments in any other Person owning, operating or controlling such assets, in each case, except (1) in the ordinary course of business and consistent with past practice
or (2) acquisitions of such