Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 205

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 205
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 or indirect Clearwater entity of Enfusion, any of its subsidiaries or the surviving entity in such transaction, pursuant to which the Enfusion Stockholders immediately preceding such transaction hold less than 80% of the equity interests in
the surviving or resulting entity of such transaction or (v) any combination of the foregoing.

“”
means a material positive fact, event, change, development or circumstance with respect to Enfusion and its subsidiaries or the business of Enfusion and its subsidiaries, taken as a whole, not known, or reasonably foreseeable or expected, by the
Special Committee as of or prior to the date of the Merger Agreement; provided, that in no event will any Effect that results from, involves or relates to any of the following give rise to an Intervening Event: (i) the receipt of an
Acquisition Proposal or a Superior Proposal or any inquiry or communications or matters relating thereto; (ii) the announcement or performance of the Merger Agreement or the pendency or consummation of the Transactions or the other transactions
contemplated by the Merger Agreement; or the identity of Clearwater or any of its affiliates as the acquiror of Enfusion, or any facts or circumstances concerning Clearwater or any of its affiliates, including any communication by any of them
regarding plans, proposals or projections with respect to Enfusion, its subsidiaries or their respective employees; (iii) any change, in and of itself, in the price or trading volume of shares of Enfusion Common Stock (although for purposes of
clarity, any underlying Effect, with respect to this clause (iii) relating to or causing such change may be considered, along with the effects or consequences thereof to the extent not otherwise excluded from this definition); or (iv) the
fact, in and of itself, that Enfusion has exceeded or met internal or analysts’ estimates, projections, expectations, budgets or forecasts of operating statistics, revenue, earnings, cash flow or any other financial or performance measures
(whether made by Enfusion or any third parties) for any period ending (or for which revenues or earnings are released) on or after the date of the Merger Agreement (although for purposes of clarity, any underlying Effect relating to or causing such
material improvement or improvements may be considered, along with the effects or consequences thereof to the extent not otherwise excluded from this definition).

“” means any bona fide written Acquisition Proposal that did not result from or involve any material
breach or violation of the no-shop provisions of