ADDED
2025 Credit Agreement refers to the credit agreement, dated as of April 21, 2025, entered into by and among CWAN Acquisition, LLC, Clearwater Analytics, LLC, the lenders party thereto from time to time, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
CECL refers to the current expected credit losses model per ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.
Continuing Equity Owners refers collectively to direct or indirect holders of LLC Interests and/or our Class B common stock, including certain of the Initial Principal Equity Owners (as defined in the LLC Agreement) and certain of our directors and their respective Permitted Transferees who may exchange at each of their respective options, in whole or in part from time to time, their LLC Interests (along with an equal number of shares of Class B common stock (and such shares shall be immediately canceled)) for newly issued shares of our Class A common stock.
Merger Agreement refers to the Agreement and Plan of Merger, dated December 20, 2025, by and among the Company, GT Silver BidCo, Inc.
( Parent ) and GT Silver Merger Sub, Inc., a wholly-owned subsidiary of Parent ( Merger Sub ).
Merger refers to the proposed merger, pursuant to which, on the terms and conditions set forth in the Merger Agreement and in accordance with the Delaware General Corporation Law, Merger Sub will merge with and into the Company.
NIST refers to the National Institute of Standards and Technology.
Prior Credit Agreement refers to a credit agreement, as amended, which Clearwater Analytics, LLC entered into with JPMorgan Chase Bank, N.A.
Wilshire Technology refers, collectively, to Wilshire Axiom SM , Wilshire Atlas SM , and Wilshire Abacus ( AAA ) and Wilshire iQComposite ( iQ Composite ), which was co-branded as Clearwater Wilshire Analytics post-acquisition.
To the extent market volatility, a downturn in economic conditions, product utilization or other factors cause negative trends, fluctuations in usage or fluctuations in the value of the assets on our platform, our fee-based revenue and earnings may decline; because some of our sales efforts are targeted at large financial institutions, corporations and government entities, we face prolonged sales cycles, substantial upfront sales costs and less predictability in completing some of our sales.
REMOVED
2025 Term Loan refers to the senior secured term loan B facility which Clearwater Analytics, LLC completed syndication for in connection with the anticipated acquisition of Enfusion, Inc.
Blocker Entities refers to entities that, prior to the consummation of the Transactions, were affiliated with certain of the Continuing Equity Owners, each of which was a direct or indirect owner of LLC Interests in CWAN Holdings prior to the Transactions and is taxable as a corporation for U.S.
Blocker Shareholders refers to entities affiliated with certain of the Continuing Equity Owners, each of which was an owner of one or more of the Blocker Entities prior to the Transactions, which exchanged their interests in the Blocker Entities for shares of our Class A common stock, in the case of Other Continuing Equity Owners, and for shares of our Class D common stock, in the case of the Principal Equity Owners, in connection with the consummation of the Transactions.
Borrower refers to Clearwater Analytics, LLC as borrower under the Credit Agreement.
CECL refers to the current expected credit losses model per ASU 2023-09, Income Taxes (Topic 326): Measurement of Credit Losses on Financial Instruments.
Credit Agreement refers to a credit agreement which Clearwater Analytics, LLC entered into with JPMorgan Chase Bank, N.A.
Merger Agreement refers to the Agreement and Plan of Merger entered into with Enfusion on January 10, 2025.
ii Table of Content s NIST refers to the National Institute of Standards and Technology.
In particular, it reflects responses given in the fourth quarter of 2024 and reflects a sample size of 116 responses over that period.
NPS gives no weight to customers who decline to answer the survey question.