Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 270

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 270
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 excepted by this definition);

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

“Parent Related Parties” means Parent, Acquirer, Merger Sub or Merger Sub II or Parent’s, Acquirer’s, Merger
Sub’s and Merger Sub II’s respective Affiliates or Non-Recourse Parties or any of their or their respective Affiliates’ or Non-Recourse Parties’
respective former, current or future directors, officers, employees, general or limited partners, mangers, members, direct or indirect equityholders, controlling persons, attorneys, assignees, agents or Representatives of any of the foregoing, or
any former, current or future estates, heirs, executors, administrators, trustees, successors or assigns of any of the foregoing.

“Payoff Letter” means a customary letter agreement in form and substance reasonably satisfactory to Parent and the Debt
Financing Sources (if any), which letter agreement shall (i) specify the total amount required to (A) pay in full all obligations (including all principal, interest, fees, prepayment premiums, penalties and other obligations (other than
contingent indemnification or expense reimbursement obligations)) under or in connection with the Company Credit Agreement and (B) terminate, or otherwise provide for (in a manner satisfactory to the applicable agents, lenders and letter of
credit issuers), all letters of credit outstanding under the Company Credit Agreement (if any), in each case, as of the anticipated Closing Date (and the daily accruals thereafter) (the “Payoff Amount”) and (ii) state that,
upon receipt of the Payoff Amount by the administrative

A-12

agent under the Company Credit Agreement, (A) the Company Credit Agreement and any related agreements, documents or instruments shall be terminated (except for provisions therein that, by
their express terms, survive such termination),