Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 523

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 523
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, association or other business entity, a majority
of the partnership or other similar ownership interests thereof is at the time owned or controlled, directly or indirectly, by any Person
or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons will be deemed to have a
majority ownership interest in a partnership, association or other business entity if such Person or Persons will be allocated a majority
of partnership, association or other business entity gains or losses or will be or control the managing director, managing member, general
partner or other managing Person of such partnership, association or other business entity. A Subsidiary of a Person will also include
any variable interest entity which is consolidated with such Person under applicable accounting rules.

<div align='center'>A-95</div>

“Support Agreement”
has the meaning specified in the Recitals hereto.

“Tax”
or “Taxes” means (a) all direct or indirect federal, state, local, foreign and other net income, gross income,
gross receipts, sales, use, value-added, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding,
payroll, employment, social security and related contributions due in relation to the payment of compensation to employees, excise, severance,
stamp, occupation, premium, real property, personal property, escheat / unclaimed property, windfall profits, alternative minimum, estimated,
customs, duties or other taxes, fees, assessments or charges of any kind whatsoever, together with any interest and any penalties, additions
to tax or additional amounts with respect thereto, (b) any Liability for payment of amounts described in clause (a) whether as a result
of being a member of an affiliated, consolidated, combined or unitary group for any period or otherwise through operation of law and (c)
any Liability for the payment of amounts described in clauses (a) or (b) as a result of any tax sharing, tax group, tax indemnity or tax
allocation agreement (excluding commercial agreements entered into in the ordinary course of business the primary purpose of which is
not the sharing of Taxes) with, or any other express or implied agreement to indemnify, any other Person.

“Tax Return”
means any return, report, statement, refund, claim, declaration, information return, statement, estimate or other document filed or required
to be filed with a Governmental Authority in respect of Taxes, including any