Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 208

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 208
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 Special Committee’s fiduciary duties under applicable law, then Enfusion or the Special Committee, directly or indirectly through one or more of their representatives, may, subject to applicable law, (x) furnish information and data with respect to Enfusion and its subsidiaries to the third party making such Acquisition Proposal and afford such third party access to the businesses, properties, assets and personnel of Enfusion and its subsidiaries and (y) enter into, maintain and participate in discussions or 132

negotiations with the third party making such Acquisition Proposal regarding such Acquisition Proposal or otherwise cooperate with or assist or participate in, or facilitate, any such discussions or negotiations (including by entering into an Acceptable Confidentiality Agreement with such third party for the purpose of receiving non-public informationrelating to such third party); provided, however, that Enfusion (1) will not, and will cause its subsidiaries not to and will not permit its or their representatives to and will direct its and their representatives not to, furnish any non-public informationexcept pursuant to an Acceptable Confidentiality Agreement and (2) will provide to Clearwater any non-public informationconcerning Enfusion or its subsidiaries provided to such third party, which was not previously provided to Clearwater, substantially concurrently with such time it is provided to such third party. From and after the date of the Merger Agreement, Enfusion will promptly (and in any event within 24 hours) notify Clearwater of Enfusion’s receipt of any Acquisition Proposal and the identity of the Person making such Acquisition Proposal. Enfusion will thereafter keep Clearwater reasonably informed on a prompt basis (and in any event within 24 hours) of the status of any material developments regarding any such Acquisition Proposal and promptly provide Clearwater with copies of all documentation (as well as written summaries of any material oral communications relating to the terms and conditions of such Acquisition Proposal) received by Enfusion and its subsidiaries and their representatives relating to such Acquisition Proposal (and in any event within 24 hours of receipt thereof). Change of Recommendation As described above, and subject to the provisions described below, the Enfusion Board and Special Committee have made the recommendation that Enfusion Stockholders vote “FOR” the proposal to adopt the Merger Agreement. The Merger Agreement prohibits the Enfusion Board (or any committee thereof, including the Special Committee) from effecting an Adverse Recommendation Change (as defined below) except as described below. Neither the Enfusion Board nor any committee thereof, including the Special Committee, will take any of the following actions (any such