Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 492

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 492
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 except where compliance with any such obligation, agreement or covenant has been waived in writing by Purchaser.

(c) No Material Adverse Effect. No Material Adverse Effect shall have occurred with respect to the Companies, taken as a whole, since the date of this Agreement
which is continuing and uncured.

(d) Closing Deliverables.

(i) Officer Certificate. Purchaser shall have received a certificate from each Company, dated as the Closing Date, signed by an executive officer
of such Company in such capacity, certifying as to the satisfaction of the conditions specified in Sections 9.3(a), 9.3(b), and 9.3(c).

(ii) Secretary Certificate. Each Company shall have delivered to the Purchaser a certificate executed by such Company’s secretary certifying
as to the validity and effectiveness of, and attaching, the requisite resolutions of such Company’s board of directors authorizing
and approving the execution, delivery and performance of this Agreement and each Ancillary Document to which such Company is or is required
to be a party or bound, and the consummation of the Greenland Merger and the March GL Merger, as applicable, and the other transactions
contemplated hereby and thereby.

(iii) Good Standing. Each Company shall have delivered to the Purchaser a good standing certificate (or similar document applicable for such
jurisdiction) for such Company certified as of a date no earlier than thirty (30) days prior to the Closing Date from the proper Governmental
Authority of such Company’s jurisdiction of organization.

(iv) Reserved

(v) Resignations.
Subject to the requirements of Section 7.18, Purchaser shall have received written resignations,
effective as of the Closing, of each of the directors and officers of the Company as requested by Purchaser.

9.4 Frustration of Conditions.Notwithstanding anything contained herein to the contrary, no Party may rely on the failure of any condition set forth
in this ARTICLE IX to be satisfied if such failure was caused by the failure of such Party
or its Affiliates (or with respect to the Company or any Company Shareholder) to comply with or perform any of its covenants or obligations
set forth in this Agreement.

<div align='center'>A-72</div>

<div align='center'>ARTICLE X.
TERMINATION AND EXPENSES</div>

10.1 Termination.This Agreement may be terminated, and the transactions contemplated hereby may be abandoned at any time prior to the Closing as follows:

(a)