District of Columbia 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. The District of Columbia Voting Agreement is a legally binding document entered into between Food Lion, Inc. and ECL Investments Limited to facilitate the approval process for a Plan of Merger. This agreement outlines the terms and conditions under which both parties agree to vote their shares in support of the merger. Under the District of Columbia Voting Agreement, Food Lion, Inc. and ECL Investments Limited are obligated to vote their respective shares in favor of the Plan of Merger. This ensures that both parties are committed to the successful completion of the merger and prevents any obstacles or opposition from within their shareholder base. The agreement also specifies the percentage of shares required for the approval of the Plan of Merger. This percentage may differ depending on the specific terms negotiated between Food Lion, Inc. and ECL Investments Limited. It is vital for both parties to reach a consensus on the minimum threshold of shares needed for the approval to avoid any discrepancies or potential deadlock situations that could hinder the merger process. In addition to the primary District of Columbia Voting Agreement, there could be different types of agreements related to the approval of the Plan of Merger. Some common variations include: 1. Distinctive Voting Agreement: This type of agreement may arise when Food Lion, Inc. and ECL Investments Limited have agreed to different terms or conditions that govern their approval of the Plan of Merger. It allows for customized provisions specific to the needs and preferences of each party, ensuring a mutually beneficial arrangement. 2. Contingent Voting Agreement: In certain cases, Food Lion, Inc. and ECL Investments Limited may choose to enter into a contingent voting agreement that specifies certain conditions that need to be met before their respective shares can be voted in favor of the merger. This type of agreement adds a layer of protection for both parties, ensuring that the merger proceeds only if predetermined requirements are fulfilled. 3. Exclusive Voting Agreement: An exclusive voting agreement may be reached if Food Lion, Inc. and ECL Investments Limited agree to exclusively vote their shares for the Plan of Merger and not entertain any other potential merger proposals or offers from third parties. This type of agreement strengthens the commitment to the merger and provides clarity and stability throughout the process. The District of Columbia Voting Agreement is an essential legal document that safeguards the interests of both Food Lion, Inc. and ECL Investments Limited during the Plan of Merger approval process. It establishes a unified front and ensures a smooth and efficient path towards the successful completion of the merger.

The District of Columbia Voting Agreement is a legally binding document entered into between Food Lion, Inc. and ECL Investments Limited to facilitate the approval process for a Plan of Merger. This agreement outlines the terms and conditions under which both parties agree to vote their shares in support of the merger. Under the District of Columbia Voting Agreement, Food Lion, Inc. and ECL Investments Limited are obligated to vote their respective shares in favor of the Plan of Merger. This ensures that both parties are committed to the successful completion of the merger and prevents any obstacles or opposition from within their shareholder base. The agreement also specifies the percentage of shares required for the approval of the Plan of Merger. This percentage may differ depending on the specific terms negotiated between Food Lion, Inc. and ECL Investments Limited. It is vital for both parties to reach a consensus on the minimum threshold of shares needed for the approval to avoid any discrepancies or potential deadlock situations that could hinder the merger process. In addition to the primary District of Columbia Voting Agreement, there could be different types of agreements related to the approval of the Plan of Merger. Some common variations include: 1. Distinctive Voting Agreement: This type of agreement may arise when Food Lion, Inc. and ECL Investments Limited have agreed to different terms or conditions that govern their approval of the Plan of Merger. It allows for customized provisions specific to the needs and preferences of each party, ensuring a mutually beneficial arrangement. 2. Contingent Voting Agreement: In certain cases, Food Lion, Inc. and ECL Investments Limited may choose to enter into a contingent voting agreement that specifies certain conditions that need to be met before their respective shares can be voted in favor of the merger. This type of agreement adds a layer of protection for both parties, ensuring that the merger proceeds only if predetermined requirements are fulfilled. 3. Exclusive Voting Agreement: An exclusive voting agreement may be reached if Food Lion, Inc. and ECL Investments Limited agree to exclusively vote their shares for the Plan of Merger and not entertain any other potential merger proposals or offers from third parties. This type of agreement strengthens the commitment to the merger and provides clarity and stability throughout the process. The District of Columbia Voting Agreement is an essential legal document that safeguards the interests of both Food Lion, Inc. and ECL Investments Limited during the Plan of Merger approval process. It establishes a unified front and ensures a smooth and efficient path towards the successful completion of the merger.