Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 465

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 465
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 past practice;

(q) take any action that would
reasonably be expected to significantly delay or impair the obtaining of any Consents of any Governmental Authority to be obtained in
connection with this Agreement;

(r) enter into, amend, waive
or terminate (other than terminations in accordance with their terms) any transaction with any Related Person (other than compensation
and benefits and advancement of expenses, in each case, provided in the ordinary course of business consistent with past practice); or

(s) authorize or agree to do
any of the foregoing actions.

Each Company shall notify the Purchaser in writing
of any such actions taken in accordance with the foregoing proviso and shall use reasonable best efforts to mitigate any negative effects
of such actions on the business of each Company, in consultation with the Purchaser whenever practicable.

7.3 Conduct of Business of the Purchaser.Unless each Company shall otherwise consent in writing (such consent not to be unreasonably withheld, conditioned
or delayed), during the Interim Period, except as expressly contemplated by this Agreement or the Ancillary Documents or as set forth
on Schedule 7.3 of the Purchaser Disclosure Schedules, Purchaser shall, and shall cause
its Subsidiaries to, comply with all Laws applicable to the Purchaser and its Subsidiaries. Notwithstanding anything to the contrary in
this Section 7.3, nothing in this Agreement shall prohibit or restrict Purchaser from
extending, in accordance with Purchaser’s Organizational Documents and the IPO Prospectus, the deadline by which it must complete
its Business Combination (an “Extension”), so long as Purchaser is solely responsible for all Extension Expenses
and provides prior written notice to each Company, and no consent of any other Party shall be required in connection therewith, except
that Purchaser shall obtain each Company’s consent prior to extending such deadline past June 30, 2026. Without limiting the
generality of Section 7.3 and except as contemplated by the terms of this Agreement or
the Ancillary Documents (including as contemplated by any PIPE Investment in accordance with Section 13.1) or as expressly set forth on Schedule 7.3 of the Purchaser Disclosure Schedules, during the Interim Period, without the prior
written consent of each Company (such consent not to be unreasonably withheld, conditioned or delayed), Purchaser shall not, and shall
cause its Subsidiaries to not:

(a) amend, waive or otherwise