Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 139

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 139
---
 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 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

94

or any portion of the Debt Financing, (iii) Parent (or its Affiliate party to the Debt Commitment Letter) or, to the knowledge of Parent, any other Person party to the Debt Commitment Letter
materially defaults or materially breaches any of the terms or conditions set forth in the Debt Commitment Letter or (iv) Parent (or its Affiliate party to the Debt Commitment Letter) receives any written notice or other written communication
with respect to any (A) early termination of, repudiation by any Person party to or material default or material breach under the Debt Commitment Letter or (B) material dispute or disagreement between or among any Persons party to the Debt
Commitment Letter with respect to the obligation to fund the Debt Financing at the Closing in an amount