Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 218

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 218
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| • |     | Enfusion having performed or complied in all material respects with all obligations required to be performed or 
 complied with by it under the Merger Agreement at or prior to the Closing;                                      |

| • |     | the receipt by Clearwater of a certificate of Enfusion, signed on behalf of Enfusion by an authorized officer of                         
 Enfusion, certifying that the foregoing conditions to the obligations of the Buyer Parties to consummate the Merger have been satisfied; |

| • |     | no Burdensome Condition will be a condition to the receipt of Regulatory Approval; |

| • |     | no order or applicable law resulting, individually or in the aggregate, in a Burdensome Condition will be in 
 effect at or upon the Closing;                                                                               |

| • |     | no Regulatory Approval contains, includes or imposes any Burdensome Condition; and |

| • |     | the TRA Amendment is in full force and effected in accordance with the terms therein. |

A “ Burdensome Condition” means any restrictions, conditions, restraints or concessions with respect to the assets, properties or businesses of (i) Enfusion or its subsidiaries which would, individually or in the aggregate, result in, or be reasonably likely to result in, a material adverse effect on Enfusion and its subsidiaries, taken as a whole, (ii) Clearwater or any of its affiliates (other than, for purposes of this clause (ii), Clearwater or any of its subsidiaries (which will be subject to clause (iii) of this definition) or, following the Closing, Enfusion or any of its subsidiaries (which will be subject to clause (i) of this definition)) or (iii) Clearwater or any of its subsidiaries (other than, following the Closing, Enfusion or any of its subsidiaries, which will be subject to clause (i) of this definition) that would result in a loss, in the aggregate, of more than $20,000,000 of revenue generated by Clearwater and its subsidiaries (taken as a whole) between (and inclusive of) January 1, 2024 and December 31, 2024. In addition, the obligation of Enfusion to consummate the Merger is subject to the satisfaction or waiver by Enfusion of each of the following additional conditions:

| • |     | the representations and warranties of the Buyer Parties relating to certain aspects of Buyer Parties’                                                                                                                                                
 corporate existence and power, corporate authorization, capitalization, brokers’ fees and anti-t