Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 416

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 416
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 taxable period (or portion thereof) ending
after the Closing Date as a result of any (i) change in method of accounting for a taxable period ending on or prior to the Closing Date
initiated prior to the Closing, (ii) use of an improper method of accounting for a taxable period ending on or prior to the Closing Date,
or (iii) any “closing agreement” as described in Section 7121 of the Code (or any similar provision of state, local or
non-U.S. Tax Law) entered into prior to the Closing.

(h) Purchaser (i) has not been
a member of an affiliated group filing a consolidated U.S. federal income Tax Return (other than a group the common parent of which was
the Purchaser) or any affiliated, combined, consolidated, aggregate, unitary or other group under applicable Tax Law (other than a group
the common parent of which was Purchaser), or (ii) does not have any material Liability for the Taxes of any other Person under Treasury
Regulation Section 1.1502-6 (or any similar provision of state, local or non-U.S. Tax Law), as a transferee or successor, by Contract
or otherwise.

(i) Purchaser is an income
Tax resident only in the country in which it is organized and does not have a permanent establishment (within the meaning of an applicable
Tax treaty) or otherwise have an office or fixed place of business in a country other than such country.

(j) Purchaser is, and has been
since its incorporation, treated as a corporation for U.S. federal (and applicable state and local) income Tax purposes, and no election
has been made or is pending to change such treatment.

(k) Purchaser is not party
to any Tax allocation, Tax sharing or Tax indemnity Contract or similar Contract with respect to Taxes.

(l) Purchaser: (i) has not
constituted either a “distributing corporation” or a “controlled corporation” (within the meaning of Section 355(a)(1)(A)
of the Code) in a distribution of securities (to any Person or entity that is not a member of the consolidated group of which Purchaser
is the common parent corporation) qualifying for, or intended to qualify for, Tax-free treatment under Section 355 of the Code (A)
within the two-year period ending on the date hereof, or (B) in a distribution which could otherwise constitute part of a “plan”
or “