Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 456

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 456
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, performing its covenants and agreements as set forth in this Agreement and consummating
the transactions contemplated by this Agreement, and neither Company has engaged in any activities or business, other than those incident
or related to, or incurred in connection with its organization or incorporation, its continuing corporate existence or the negotiation,
preparation or execution of this Agreement.

<div align='center'>ARTICLE VI.
representations and warranties of HOLDCO</div>

Holdco represents and warrants
to each Company and Purchaser as follows:

6.1 Organization and Standing.Holdco is a corporation duly incorporated, validly existing and in good standing under the Laws of Texas. Holdco has
all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as now being conducted.
Holdco is duly qualified or licensed and in good standing to do business in each jurisdiction in which the character of the property owned,
leased or operated by it or the nature of the business conducted by it makes such qualification or licensing necessary. Holdco has heretofore
made available to the Companies accurate and complete copies of the Organizational Documents of Holdco, as currently in effect. Holdco
is not in violation of any provision of its Organizational Documents in any material respect.

<div align='center'>A-46</div>

6.2 Authorization: Binding Agreement.Holdco has all requisite corporate power and authority to execute and deliver this Agreement and each Ancillary
Document to which it is a party, to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby. The execution and delivery of this Agreement and each Ancillary Document to which it is a party and the consummation of the
transactions contemplated hereby and thereby, (a) have been duly and validly authorized by the board of directors and, as applicable,
shareholders of Holdco in accordance with Holdco’s Organizational Documents and any other applicable Law, and (b) no other corporate
proceedings, other than as expressly set forth elsewhere in this Agreement, on the part of Holdco are necessary to authorize the execution
and delivery of this Agreement and each Ancillary Document to which it is a party, or to consummate the transactions contemplated hereby
and thereby. This Agreement has been, and each Ancillary Document to which Holdco is a party has been or shall be when delivered, duly
and validly executed and delivered and, assuming the due authorization, execution and delivery of this