Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 283

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 283
---
 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), (B) all related encumbrances, security interests, liens and collateral shall be released, all related guaranties and subordination agreements (if any) shall be terminated (except for provisions therein
that, by their express terms, survive such termination), and (C) the applicable agent under the Company Credit Agreement shall execute and deliver (if and as applicable), file and authorize filing of lien terminations and other instruments or
evidences of discharge.

“Permitted Liens” means (i) Liens disclosed on the Company Balance Sheet, (ii) Liens
for Taxes, assessments, utilities or other governmental charges or levies that are (A) not yet due and payable or (B) being contested in good faith by appropriate proceedings and for which adequate reserves have been established in
accordance with GAAP, (iii) the interests of lessors and sublessors in the underlying fee estate or superior leasehold interest of any Company Leased Real Properties and other statutory Liens in favor of lessors and sublessors for amounts not
yet due and payable, (iv) recorded easements, rights of way and other imperfections of title or encumbrances that do not materially interfere with the