Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 475

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 475
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, each Merger is intended
to be treated consistent with the Intended Tax Treatment. Each of the Parties shall use its commercially reasonable efforts to cause the
Mergers to qualify for the Intended Tax Treatment. None of the Parties shall (and each of the Parties shall cause their respective Subsidiaries
not to) take any action, or fail to take any action, that could reasonably be expected to cause the Mergers to fail to qualify for the
Intended Tax Treatment. To the greatest extent permitted under Law, the Parties will prepare and file all Tax Returns consistent with
the Intended Tax Treatment and will not take any inconsistent position on any Tax Return unless otherwise required by a “determination”
within the meaning of Section 1313 of the Code; provided, however,
that no Party shall be unreasonably impeded in its ability and discretion to negotiate, compromise and/or settle any Tax audit, claim
or similar proceedings in connection with the Intended Tax Treatment.

(c) The Parties shall execute
and deliver (i) officer’s certificates, in customary form, in a timely manner upon request by the other Party and (ii) any other
representations reasonably requested by counsel to Purchaser or counsel to each Company, as applicable, for purposes of rendering opinions
regarding the Intended Tax Treatment and other tax matters in connection with the transactions contemplated by this Agreement, at such
time or times as may be requested by counsel to Purchaser or counsel to either Company, including in connection with the Closing and any
filing with the SEC. Any opinion to be delivered by counsel to Purchaser or to either Company shall be limited to addressing (a) qualification
of the transactions contemplated by this Agreement as an exchange governed by Section 351 of the Code, and/or (b) the accuracy of
any tax disclosure statements addressed directly to holders of equity securities of the Purchaser (or any other matters the SEC specifically
requests that the Purchaser provide an opinion with respect to). For the avoidance of doubt, any tax opinions to be delivered by counsel
to Purchaser or to either Company shall not be a condition to Closing under this Agreement.

(d) Holdco shall use commercially
reasonable efforts to provide the pre-Closing Purchaser shareholders information that is required to (i) make (or maintain) a timely and
valid election as contemplated by Section 1295 of the Code (and the Treasury Regulations promulgated thereunder) with respect to
Purchaser for each year that Purch