Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 131

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 131
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 or covenants under the Business Combination Agreement that would prevent satisfaction of the conditions in Section 9.2(a) or 9.2(b) of the Business Combination Agreement, and the breach or inaccuracy is uncured within twenty days of notice or by the Outside Date, provided the Company is not in material uncured breach of the Business Combination Agreement; |

| ● | by written notice from SPAC to the Companies if a Company breaches or has inaccurate representations, warranties, or covenants under the Business Combination Agreement that would prevent satisfaction of the conditions in Section 9.3(a) or 9.3(b) of the Business Combination Agreement, and the breach or inaccuracy is uncured within twenty days of notice or by the Outside Date, provided SPAC is not in material uncured breach of the Business Combination Agreement; |

| ● | by written notice from SPAC or the Companies if a Material Adverse Effect occurs on either Party, taken as a whole, following the date of the Business Combination Agreement and remains uncured for at least ten Business Days after notice; or |

| ● | by written notice from SPAC or the Companies if the Extraordinary General Meeting is held (including any adjournment or postponement) and concludes without obtaining the Required SPAC Shareholder Approval under the Business Combination Agreement; |

In the event of the termination of the Business Combination Agreement pursuant to Section 10.1 of the Business Combination Agreement by written notice specifying the basis for termination; upon valid termination, the Business Combination Agreement becomes void, no Party or their Representatives have further liability, and all rights and obligations cease, except that certain provisions, including those on public announcements, fees and expenses, waiver of claims, miscellaneous matters, effect of termination, and third-party rights, survive, and nothing limits liability for willful breaches or Fraud Claims prior to termination; prior to Closing, the sole remedy for a breach is generally termination under Section 10.1 of the Business Combination Agreement, except as otherwise provided or for equitable relief; if the March GL Merger has been consummated and March GL is not in material uncured breach at termination, the Parties must transfer all issued and outstanding March GL stock back to pre-merger shareholders free of liens under acceptable documentation; additionally, if termination results primarily from SPAC’s actions or inactions, SPAC must transfer one-third of the issued and outstanding Founder Shares to Greenland as a Termination Fee, free of liens, to compensate Greenland for time, expenses, and opportunity