Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 474

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 474
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 or restriction, in connection with
obtaining the foregoing Permits, consents, Orders, approvals, waivers, non-objections and authorizations of Governmental Authorities that
would reasonably be expected to be financially burdensome to the business, operations, financial condition or results of operations on
the business of any Company and its Subsidiaries (taken as a whole), or on the business of Purchaser and its Subsidiaries (taken as a
whole) (which restriction, commitment, or condition could include materially increasing capital, divesting or reducing lines of businesses
or asset classes, entering into compliance or remediation programs, and making material lending or investment commitments).

(d) Prior to the Closing, each
Party shall use its commercially reasonable efforts to obtain any Consents of Governmental Authorities or other third Persons as may be
necessary for the consummation by such Party or its Affiliates of the transactions contemplated by this Agreement or required as a result
of the execution or performance of, or consummation of the transactions contemplated by, this Agreement by such Party or its Affiliates,
and the other Parties shall provide reasonable cooperation in connection with such efforts; provided, that in no event shall any Party
be required to pay any material fee, penalty or other consideration to obtain any license, Permit, consent, approval, authorization, qualification
or waiver required under any Contract for the consummation of the transactions contemplated hereby (other than fees or expenses payable
to the SEC in connection with the transactions contemplated hereby, including the Registration Statement).

<div align='center'>A-59</div>

7.12 Tax Matters.

(a) Holdco shall pay all transfer,
documentary, sales, use, stamp, registration, value added or other similar Taxes incurred in connection with the transactions contemplated
by this Agreement (collectively, the “Transfer Taxes”) and file all necessary Tax Returns with respect to all
Transfer Taxes, and, if required by applicable Law, the Parties shall, and shall cause their respective Affiliates to, join in the execution
of any such Tax Returns and other document. Notwithstanding any other provision of this Agreement, the Parties shall (and shall cause
their respective Affiliates to) cooperate in good faith to minimize, to the extent permissible under applicable Law, the amount of any
such Transfer Taxes.

(b) The Parties agree and intend
that, to the greatest extent permitted by Law, for U.S. federal (and applicable state and local) income tax purposes