Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 69

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 69
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e) liabilities or obligations that would not reasonably be expected to have, individually or in the aggregate,
a Company Material Adverse Effect.

Section 4.11 Litigation. Except as would not reasonably be expected to have,
individually or in the aggregate, a Company Material Adverse Effect, from January 1, 2022, (a) there is and there has been no Proceeding pending against or threatened in writing against or, to the Knowledge of the Company, involving the Company
or any of its Subsidiaries and (b) neither the Company nor any of its Subsidiaries is or has been subject to any outstanding Order. As of the date hereof, there is no pending Proceeding or outstanding Order that seeks to prevent, materially
impair or materially delay consummation of the Mergers.

46

Section 4.12 Compliance with Applicable Law.

(a) Except as would not reasonably be expected to result, individually or in the aggregate, in the Company incurring material liabilities,
each of the Company and its Subsidiaries is, and, since January 1, 2022, has been, in compliance with all Applicable Laws and Privacy Obligations. Neither the Company nor any of its Subsidiaries has received any written notice since
January 1, 2022 that remains unresolved (i) of any administrative, civil or criminal investigation or material audit by any Governmental Authority relating to the Company or any of its Subsidiaries or (ii) from any Governmental
Authority alleging that the Company or any of its Subsidiaries is not in compliance with any Applicable Law, except for such notices described in clauses (i) and (ii) that would not reasonably be expected to result, individually or in the
aggregate, in the Company incurring material liabilities.

(b) Except as would not reasonably be expected to result, individually or in
the aggregate, in the Company incurring material liabilities, (i) each of the Company and its Subsidiaries has in effect all Governmental Authorizations necessary for it to own, lease or otherwise hold and operate its properties and assets and
to carry on its businesses and operations and (ii) there have occurred no defaults (with or without notice or lapse of time or both) under, violations of, or events giving rise to any right of termination, amendment or cancelation of, any such
Governmental Authorizations.

Section 4.13 Certain Business Practices.

(a)