Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 378

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 378
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 (“Definitive Agreements”) consistent with the terms and conditions contained therein (including, as necessary, the “flex”
provisions contained in any Debt Fee Letter) and (iv) consummate the Debt Financing at or prior to the Closing.

(b) Parent and
Clearwater LLC shall not, without the prior written consent of the Company, permit, consent to or agree to any termination of or amendment, restatement, replacement, supplement or modification to be made to, or grant any waiver of any provision
under, the Debt Commitment Letter if such amendment, restatement, replacement, supplement, modification or waiver (i) reduces (or would reasonably be expected to have the effect of reducing) the aggregate amount of the Debt Financing to an
amount less than, when taken together with cash on hand of Parent and the Company, the Required Amount, (ii) imposes new or additional conditions precedent to the funding of the Debt Financing, or otherwise expands any of the existing
conditions precedent to the funding of the Debt Financing, in each case that would reasonably be expected to materially delay or prevent the Closing, (iii) would reasonably be expected to materially delay or prevent the Closing or make less
likely to occur the funding of the Debt Financing (or satisfaction of the conditions to the Debt Financing) on the Closing Date or (iv) would reasonably be expected to have a material adverse impact on the ability of Parent (or its Affiliate
party thereto) to enforce its rights against other parties to the Debt Commitment Letter (the effects described in through , collectively, “Prohibited Modifications”). Notwithstanding the
foregoing, any amendment, amendment and restatement, supplement or modification to effectuate any “market flex” terms contained in the Debt Commitment Letter or the Debt Fee Letter or to add any additional agents or other financial
institutions thereto as provided for therein shall be permitted and shall not require written consent of the Company.

(c) Upon prior
written request by the Company, Parent shall keep the Company informed on a reasonably current basis and in reasonable detail of the status of the Debt Financing. Parent shall promptly notify

A-73

the Company in writing if at any time prior to the Closing Date (i) the Debt Commitment Letter is terminated for any reason, (ii) any Person party to the Debt Commitment Letter
indicates in writing that it will not provide, or it refuses to provide, all or any portion of the Debt Financing, (iii) Parent (or its Affiliate party to the Debt Commit