Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 447

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 447
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.22 Insurance.

(a) Schedule 4.22(a) lists
all insurance policies (by policy number, insurer, coverage period, coverage amount, annual premium and type of policy) held by such Company
relating to such Company or its business, properties, assets, directors, officers and employees, copies of which have been provided to
the Purchaser. All premiums due and payable under all such insurance policies have been timely paid and such Company is otherwise in material
compliance with the terms of such insurance policies. Each such insurance policy (i) is legal, valid, binding, enforceable and in full
force and effect and (ii) will continue to be legal, valid, binding, enforceable, and in full force and effect on identical terms following
the Closing. Such Company has no self-insurance or co-insurance programs. In the past five (5) years (or since the date of such Company’s
formation if less than five years ago), such Company has not received any notice from, or on behalf of, any insurance carrier relating
to or involving any adverse change or any change other than in the ordinary course of business, in the conditions of insurance, any refusal
to issue an insurance policy or non-renewal of a policy.

(b) Schedule 4.22(b) identifies
each individual insurance claim in excess of $200,000 made by such Company in the past five (5) years (or since the date of such Company’s
formation if less than five years ago). Such Company has reported to its insurers all claims and pending circumstances that would reasonably
be expected to result in a claim, except where such failure to report such a claim would not be reasonably likely to be material to such
Company. To the Knowledge of such Company, no event has occurred, and no condition or circumstance exists, that would reasonably be expected
to (with or without notice or lapse of time) give rise to or serve as a basis for the denial of any such insurance claim. In the three
(3) years (or since the date of such Company’s formation if less than three years ago) preceding the date hereof, such Company has
made no claim against an insurance policy as to which the insurer is denying coverage.

4.23 Books and Records.All of the financial books and records of such Company are complete and accurate in all material respects and have been maintained
in the ordinary course of business consistent with past practice and in accordance with applicable Laws.

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