Company: BSAAR
Filing Date: 2025-09-26
Form Type: 8-K
Source: 0001493152-25-015071
Chunk: 3

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-09-26
Form: 8-K
Item: Item 1.01
Chunk 3
---
 specified
actions without the prior written consent of the other party.

The
Merger Agreement also contains covenants providing for:

  The                                                                                                                                        

  Each                                                         

  SEC                                                              

  HDE                                   

  Disbursement                    

  Directors’                      

  No                                            

  HDE                                                                                                                                      
  to cause its tax counsel to determine whether the Acquisition Merger is expected to qualify for the Acquisition Intended Tax Treatment.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Covenants

The
Target Group makes covenants relating to, among other things: (a) reporting of taxes and compliance with laws; (b) consents; (c) commercially
reasonable efforts to keep current and timely file all necessary documents required by the CSRC; (d) ODI filings and SAFE registration;
(e) issuance of shares; (f) annual and interim financial statements; (g) employees; (h) obtaining required shareholder approval within
five business days of registration statement effectiveness; (i) preparation of a purchaser incentive plan prior to the preliminary proxy
statement/registration statement filing; (j) issuance of shares under convertible agreements; (k) covenant not to sue; and (l) provision
of additional information.

Each
party further makes covenants relating to, among other things: (a) commercially reasonable efforts to consummate the transactions contemplated
in the Merger Agreement; (b) tax matters; (c) settlement and reimbursement of expenses; (d) compliance with SPAC agreements; (e) filing
with the SEC a registration statement; (f) confidentiality; and (g) commercially reasonable efforts to complete applicable filings pursuant
to CSRC Trail Rules. The Purchaser Parties further makes a covenant to use commercially reasonable efforts to ensure the Parent remains
listed on Nasdaq prior to the Closing Date.

General
Conditions to Closing

Consummation
of the transactions contemplated by the Merger Agreement will be conditioned on, among other things, (i) no provisions of any applicable
law, and no order shall prohibit or prevent the consummation of the closing; (ii) there shall not be any action brought by a third party
that is not an affiliate of the parties hereto to enjoin or otherwise restrict the consummation of the closing; (iii) the Reincorporation
Merger shall have been consummated and the applicable certificates, the BRPM and the CRPM shall have been filed