Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 448

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 448
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A-40</div>

4.24 Reserved.

4.25 Certain Business Practices.

(a) Neither such Company, nor
to the Knowledge of such Company, any of its Representatives acting on its behalf has (i) used any funds for unlawful contributions, gifts,
entertainment or other unlawful expenses relating to political activity, (ii) made any unlawful payment to foreign or domestic government
officials or employees, to foreign or domestic political parties or campaigns or violated any provision of the U.S. Foreign Corrupt Practices
Act of 1977 or any other local or foreign anti-corruption or bribery Law or (iii) made any other unlawful payment. Neither such Company
nor any of its Representatives acting on its behalf has, directly or indirectly, given or agreed to give any unlawful gift or similar
benefit in any material amount to any customer, supplier, governmental employee or other Person who is or may be in a position to help
or hinder such Company or assist such Company in connection with any actual or proposed transaction.

(b) The operations of such
Company are and have been conducted at all times in compliance with money laundering statutes in all applicable jurisdictions, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental
Authority, and no Action involving such Company with respect to any of the foregoing is pending or, to the Knowledge of such Company,
threatened.

(c) Neither such Company nor
any of its directors or officers, or, to the Knowledge of such Company, any other Representative acting on behalf of such Company is currently
identified on the specially designated nationals or other blocked person list or otherwise currently subject to any U.S. sanctions administered
by OFAC, and such Company has not in the last five (5) fiscal years, directly or indirectly, used any funds, or loaned, contributed or
otherwise made available such funds to any Subsidiary, joint venture partner or other Person, in connection with any sales or operations
in Cuba, Iran, North Korea, Syria, Sudan, the Crimean region of Ukraine, or any other country sanctioned by OFAC or for the purpose of
financing the activities of any Person currently subject to, or otherwise in violation of, any U.S. sanctions administered by OFAC.

4.26 Compliance with Privacy Laws, Privacy Policies and Certain Contracts.Except as set forth on Schedule 4.26:

(a) Such Company, and, to the
Knowledge of such Company, its officers