Arizona Voting Agreement between Food Lion, Inc. and ECL Investments Limited regarding approval of Plan of Merger

• Category: Corporations - Public - Voting Agreements
• State: Multi-State
• Control #: US-EG-9240
• Format: Word; Rich Text

Description

Voting Agreement between Food Lion, Inc. and ECL Investments Limited regarding approval of Plan of Merger dated August 17, 1999. 8 pages. Title: Understanding the Arizona Voting Agreement between Food Lion, Inc. and ECL Investments Limited for Approval of Plan of Merger Keywords: Arizona, Voting Agreement, Food Lion Inc., ECL Investments Limited, Plan of Merger Introduction: The Arizona Voting Agreement plays a significant role in the approval of a Plan of Merger between Food Lion, Inc. and ECL Investments Limited. This legally binding document outlines the terms and conditions that both parties must adhere to when voting for the proposed merger. There are various types of Arizona Voting Agreements that may be considered, including: 1. Unanimous Voting Agreement: A unanimous voting agreement is one where all shareholders involved must vote in favor of the proposed Plan of Merger. This type of agreement ensures a unified decision amongst all parties involved, guaranteeing majority approval. 2. Super majority Voting Agreement: In a super majority voting agreement, a specific percentage or number of shareholders must vote in favor of the Plan of Merger for it to be approved. This type of agreement may require a higher threshold, such as two-thirds or three-fourths majority vote, ensuring significant support from shareholders. 3. Conditional Voting Agreement: A conditional voting agreement outlines specific conditions that must be met for the shareholder's vote to count towards approving the Plan of Merger. These conditions could include achieving certain financial targets, regulatory approvals, or other predetermined requirements. Until these conditions are met, the vote may be considered provisional or not counted at all. Content: The Arizona Voting Agreement is designed to safeguard the interests of both Food Lion, Inc. and ECL Investments Limited throughout the merger process. It assures that the merger receives appropriate support from shareholders, ensuring a transparent and democratic decision-making process. Key Elements of an Arizona Voting Agreement: 1. Parties Involved: The Voting Agreement will clearly state the participating parties, namely Food Lion, Inc. and ECL Investments Limited, as well as any other shareholders with a substantial stake in the company. 2. Plan of Merger Approval: The agreement will explicitly mention that it pertains to the approval of the proposed Plan of Merger between the two parties. It will outline the purpose, benefits, and goals of the merger. 3. Voting Conditions and Procedures: The Voting Agreement will specify the specific conditions and procedures under which the shareholders' votes will be counted. The agreement may outline the type of voting agreement being utilized, such as unanimous or super majority. 4. Obligation to Vote: It will define the obligation of each shareholder to vote in favor of the Plan of Merger according to the agreed terms and conditions. The agreement may also mention any penalties or consequences for non-compliance. 5. Term and Duration: The Voting Agreement will specify the duration of its validity and enforceability. It may outline any provisions for the termination or amendment of the agreement. Conclusion: The Arizona Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a crucial legal document that establishes the terms and conditions for the approval of a Plan of Merger. Different types of voting agreements, such as unanimous, super majority, or conditional, may be utilized to ensure a fair and transparent decision-making process. Understanding and complying with the Voting Agreement is paramount for the successful merger of the two companies.

Title: Understanding the Arizona Voting Agreement between Food Lion, Inc. and ECL Investments Limited for Approval of Plan of Merger Keywords: Arizona, Voting Agreement, Food Lion Inc., ECL Investments Limited, Plan of Merger Introduction: The Arizona Voting Agreement plays a significant role in the approval of a Plan of Merger between Food Lion, Inc. and ECL Investments Limited. This legally binding document outlines the terms and conditions that both parties must adhere to when voting for the proposed merger. There are various types of Arizona Voting Agreements that may be considered, including: 1. Unanimous Voting Agreement: A unanimous voting agreement is one where all shareholders involved must vote in favor of the proposed Plan of Merger. This type of agreement ensures a unified decision amongst all parties involved, guaranteeing majority approval. 2. Super majority Voting Agreement: In a super majority voting agreement, a specific percentage or number of shareholders must vote in favor of the Plan of Merger for it to be approved. This type of agreement may require a higher threshold, such as two-thirds or three-fourths majority vote, ensuring significant support from shareholders. 3. Conditional Voting Agreement: A conditional voting agreement outlines specific conditions that must be met for the shareholder's vote to count towards approving the Plan of Merger. These conditions could include achieving certain financial targets, regulatory approvals, or other predetermined requirements. Until these conditions are met, the vote may be considered provisional or not counted at all. Content: The Arizona Voting Agreement is designed to safeguard the interests of both Food Lion, Inc. and ECL Investments Limited throughout the merger process. It assures that the merger receives appropriate support from shareholders, ensuring a transparent and democratic decision-making process. Key Elements of an Arizona Voting Agreement: 1. Parties Involved: The Voting Agreement will clearly state the participating parties, namely Food Lion, Inc. and ECL Investments Limited, as well as any other shareholders with a substantial stake in the company. 2. Plan of Merger Approval: The agreement will explicitly mention that it pertains to the approval of the proposed Plan of Merger between the two parties. It will outline the purpose, benefits, and goals of the merger. 3. Voting Conditions and Procedures: The Voting Agreement will specify the specific conditions and procedures under which the shareholders' votes will be counted. The agreement may outline the type of voting agreement being utilized, such as unanimous or super majority. 4. Obligation to Vote: It will define the obligation of each shareholder to vote in favor of the Plan of Merger according to the agreed terms and conditions. The agreement may also mention any penalties or consequences for non-compliance. 5. Term and Duration: The Voting Agreement will specify the duration of its validity and enforceability. It may outline any provisions for the termination or amendment of the agreement. Conclusion: The Arizona Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a crucial legal document that establishes the terms and conditions for the approval of a Plan of Merger. Different types of voting agreements, such as unanimous, super majority, or conditional, may be utilized to ensure a fair and transparent decision-making process. Understanding and complying with the Voting Agreement is paramount for the successful merger of the two companies.