Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 693

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 693
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 and warranties of the Company being true and correct to applicable standards
in the Merger Agreement and each of the covenants of the Company having been performed or complied with in all material respects, (B)
since the date of the Merger Agreement there not having been a material adverse effect on the Company that is continuing, and (C) the
effective resignations of certain directors and executive officers of the Company. The Merger Agreement does not include a minimum cash
condition. Because the parties’ obligations to consummate the Merger are subject to the satisfaction or waiver of these, and other,
conditions, there is no guarantee that the Merger will be consummated.

67

The Merger
Agreement may be terminated under certain customary and limited circumstances at any time prior to the Effective Time as follows:

(i)by mutual written consent of the Company and Xiaoyu Dida;

(ii)by either the Company or Xiaoyu Dida if the Closing is not consummated
on or before December 31, 2025 (the “Outside Date”), provided that the failure to consummate the Closing by the Outside
Date is not due to a material breach by the party seeking to terminate and which such breach is the proximate cause for the conditions
to close not being satisfied;

(iii)by either the Company or Xiaoyu Dida if the other party has breached
any of its covenants or representations and warranties such that closing conditions would not be satisfied at the Closing (subject to
a 30-days cure period for breaches that are curable), provided that such right to terminate will not be available to either party if it
has breached in any material respect its obligations set forth in the Merger Agreement;

(iv)by either the Company or Xiaoyu Dida if any Order (as defined in
the Merger Agreement) having the effect of prohibiting or preventing the consummation of the Closing shall be in effect and shall have
become final and non-appealable; provided, however, that the right to terminate this shall not be available to a party if such Order was
due to such party’s breach of or failure to perform any of its representations, warranties, covenants or agreements set forth in
the Merger Agreement;

(v)by either the Company or Xiaoyu Dida if the CSRC Filing Notice has
not been obtained by the Outside Date;

(vi)by either Company or Xiaoyu Dida if Company stockholder approval