Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 206

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 206
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 any other
governmental entity that may assert jurisdiction under applicable law and to which the American Water and Essential deem it necessary, proper or advisable to obtain or make a consent or filing with such governmental entity to consummate the merger)
if the taking of such efforts or actions with respect thereto would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the business, condition (financial or otherwise), properties, results of operations,
liabilities, assets or operations of American Water and its subsidiaries and affiliates, taken as a whole, or Essential and its subsidiaries and affiliates, taken as a whole (such foregoing effects are referred to as a burdensome effect); provided
that, for purposes of determining whether a potential adverse effect would constitute a burdensome effect, American Water and its subsidiaries and affiliates, taken as a whole, will be deemed to be a consolidated group of entities that is the size
and scale of Essential and its subsidiaries and affiliates, taken as a whole. Notwithstanding the foregoing, no undertakings, commitments, actions, terms, conditions or obligations set forth in the sections of the merger agreement relating to
American Water’s post-closing organizational documents, directors and officers, or headquarters and operations will constitute or be taken into account in determining whether there has been a burdensome effect. In addition, neither American
Water nor Essential is permitted to accept any commitments, actions or conditions in connection with the merger pursuant to any settlement or otherwise with any applicable PSC or any other person without the prior written consent of the other party,
which consent shall not be unreasonably withheld, conditioned or delayed.

Each of American Water and Essential also agree that it will not, and will
cause its respective subsidiaries and affiliates not to, take any action, including acquiring any asset, property, business or person, that would reasonably be expected to (i) materially increase the risk of not obtaining any consent or filing
contemplated by the applicable provision of the merger agreement prior to the end date or (ii) result in a consent being required from a state public utility commission (other than an applicable PSC) in connection with the completion of the
transactions contemplated by the merger agreement, and each party must promptly notify and consult with the other party with respect to any such contemplated action.

Efforts Related to Consents of Third Parties (Other Than Governmental Entities)

Subject to the terms and conditions of the merger agreement and applicable law, each of American Water and Essential will use its commercially reasonable
efforts to obtain all cons