Illinois 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 Illinois Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a legal document outlining the terms and conditions for approval of the Plan of Merger between the two entities. This agreement aims to ensure a smooth and mutually beneficial merger process by establishing guidelines and requirements for voting and decision-making. The agreement includes several key provisions and clauses that both parties must adhere to. Some relevant keywords and concepts associated with this agreement are: 1. Approval of Plan of Merger: This refers to the process of authorizing and accepting the proposed merger plan, which outlines the details, terms, and conditions of the merger between Food Lion, Inc. and ECL Investments Limited. 2. Illinois Voting Agreement: This specific agreement is governed by Illinois state laws and regulations, which means that any disputes or legal matters arising from this agreement will be resolved according to Illinois law. 3. Voting Quorum: The agreement may establish a minimum number or percentage of voting shares required to be present or represented for any votes to be valid. This ensures an adequate level of shareholder participation in the decision-making process. 4. Approval Threshold: The agreement may outline a specific majority or super majority requirement for approving the Plan of Merger. For example, it may state that the merger can only proceed if a certain percentage (e.g., two-thirds) of shareholders vote in favor of it. 5. Voting Rights: The agreement may outline the rights and responsibilities of each party with regard to their voting shares. It may specify if any special classes of shares have different voting rights or restrictions. 6. Representation and Warranties: Both parties may make certain representations and warranties to each other regarding their respective authority, ownership, and compliance with applicable laws in connection with the merger. These representations and warranties provide assurances and protections for each party involved. 7. Termination and Amendment: The agreement may include provisions for termination or amendment of the agreement and the Plan of Merger. Such provisions allow flexibility in case circumstances change, or if the parties mutually agree to modify the terms of the agreement. Different types of Illinois Voting Agreements between Food Lion, Inc. and ECL Investments Limited regarding approval of the Plan of Merger can vary based on specific details and terms. For example: 1. Voting Agreement with Exchange of Consideration: This type of agreement may include provisions related to the exchange of shares or other considerations between Food Lion, Inc. and ECL Investments Limited as part of the merger process. 2. Voting Agreement with Shareholder Rights: This type of agreement may specify additional rights or privileges granted to the shareholders of either company in relation to the merger, such as guarantees of representation on the merged company's board of directors or protection of minority shareholder interests. 3. Voting Agreement with Escrow or Hold back: This type of agreement may establish the conditions or requirements for holding a certain portion of shares or consideration in escrow or hold back, pending the satisfaction of certain post-merger obligations or indemnification claims. It is important to note that the specific types of Illinois Voting Agreements between Food Lion, Inc. and ECL Investments Limited can vary based on the needs and objectives of the merging parties, as well as applicable legal and regulatory requirements.

The Illinois Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a legal document outlining the terms and conditions for approval of the Plan of Merger between the two entities. This agreement aims to ensure a smooth and mutually beneficial merger process by establishing guidelines and requirements for voting and decision-making. The agreement includes several key provisions and clauses that both parties must adhere to. Some relevant keywords and concepts associated with this agreement are: 1. Approval of Plan of Merger: This refers to the process of authorizing and accepting the proposed merger plan, which outlines the details, terms, and conditions of the merger between Food Lion, Inc. and ECL Investments Limited. 2. Illinois Voting Agreement: This specific agreement is governed by Illinois state laws and regulations, which means that any disputes or legal matters arising from this agreement will be resolved according to Illinois law. 3. Voting Quorum: The agreement may establish a minimum number or percentage of voting shares required to be present or represented for any votes to be valid. This ensures an adequate level of shareholder participation in the decision-making process. 4. Approval Threshold: The agreement may outline a specific majority or super majority requirement for approving the Plan of Merger. For example, it may state that the merger can only proceed if a certain percentage (e.g., two-thirds) of shareholders vote in favor of it. 5. Voting Rights: The agreement may outline the rights and responsibilities of each party with regard to their voting shares. It may specify if any special classes of shares have different voting rights or restrictions. 6. Representation and Warranties: Both parties may make certain representations and warranties to each other regarding their respective authority, ownership, and compliance with applicable laws in connection with the merger. These representations and warranties provide assurances and protections for each party involved. 7. Termination and Amendment: The agreement may include provisions for termination or amendment of the agreement and the Plan of Merger. Such provisions allow flexibility in case circumstances change, or if the parties mutually agree to modify the terms of the agreement. Different types of Illinois Voting Agreements between Food Lion, Inc. and ECL Investments Limited regarding approval of the Plan of Merger can vary based on specific details and terms. For example: 1. Voting Agreement with Exchange of Consideration: This type of agreement may include provisions related to the exchange of shares or other considerations between Food Lion, Inc. and ECL Investments Limited as part of the merger process. 2. Voting Agreement with Shareholder Rights: This type of agreement may specify additional rights or privileges granted to the shareholders of either company in relation to the merger, such as guarantees of representation on the merged company's board of directors or protection of minority shareholder interests. 3. Voting Agreement with Escrow or Hold back: This type of agreement may establish the conditions or requirements for holding a certain portion of shares or consideration in escrow or hold back, pending the satisfaction of certain post-merger obligations or indemnification claims. It is important to note that the specific types of Illinois Voting Agreements between Food Lion, Inc. and ECL Investments Limited can vary based on the needs and objectives of the merging parties, as well as applicable legal and regulatory requirements.