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

• Category: Corporations - Public - Voting Agreements
• State: Multi-State
• County: Collin
• 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. Collin Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited regarding approval of Plan of Merger: The Collin Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a legally binding document that outlines the terms and conditions for the approval of the Plan of Merger. This agreement ensures that both parties, Food Lion, Inc. and ECL Investments Limited, are committed to making informed decisions and acting in the best interest of the merger. Under this agreement, Food Lion, Inc. and ECL Investments Limited agree to vote all of their shares in favor of the Plan of Merger. This demonstrates their mutual understanding and shared goals in completing the merger successfully. The agreement also includes provisions to prevent any party from taking actions that could hinder or delay the merger process. Key elements of the Collin Texas Voting Agreement include the following: 1. Approval of the Plan of Merger: Both Food Lion, Inc. and ECL Investments Limited commit to voting in favor of the Plan of Merger, ensuring their shareholders' majority support for the transaction. 2. Restrictions on Voting Powers: The agreement may include restrictions on the parties' ability to transfer or assign their voting rights to any third party without prior consent from the other party. This prevents any unauthorized changes in the voting power. 3. Confidentiality: The Voting Agreement may include provisions that bind both parties to maintain the confidentiality of any non-public information related to the merger. This protects the sensitive information exchanged during the negotiation process. 4. Termination Clause: The agreement may define circumstances under which it can be terminated by either party, such as a breach of the agreement terms or failure to meet certain conditions outlined in the Plan of Merger. Different types of Collin Texas Voting Agreements between Food Lion, Inc. and ECL Investments Limited regarding the approval of the Plan of Merger might include: 1. Unanimous Voting Agreement: This type of agreement requires all shareholders of both Food Lion, Inc. and ECL Investments Limited to vote in favor of the merger for it to proceed. It ensures a unified front and prevents any minority shareholders from blocking the transaction. 2. Majority Voting Agreement: In this type of agreement, a specified majority of shareholders from each party must vote in favor of the merger. It allows for some flexibility and accounts for situations where certain shareholders may not be in favor or unable to vote. 3. Dual-Class Voting Agreement: If there is a significant difference in voting power or ownership stakes between Food Lion, Inc. and ECL Investments Limited, this type of agreement can be used. It may address voting rights differences and ensure that both parties' interests are adequately represented. The specific type of Collin Texas Voting Agreement entered into by Food Lion, Inc. and ECL Investments Limited will depend on their unique circumstances, ownership structure, and goals for the merger.

Collin Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited regarding approval of Plan of Merger: The Collin Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited is a legally binding document that outlines the terms and conditions for the approval of the Plan of Merger. This agreement ensures that both parties, Food Lion, Inc. and ECL Investments Limited, are committed to making informed decisions and acting in the best interest of the merger. Under this agreement, Food Lion, Inc. and ECL Investments Limited agree to vote all of their shares in favor of the Plan of Merger. This demonstrates their mutual understanding and shared goals in completing the merger successfully. The agreement also includes provisions to prevent any party from taking actions that could hinder or delay the merger process. Key elements of the Collin Texas Voting Agreement include the following: 1. Approval of the Plan of Merger: Both Food Lion, Inc. and ECL Investments Limited commit to voting in favor of the Plan of Merger, ensuring their shareholders' majority support for the transaction. 2. Restrictions on Voting Powers: The agreement may include restrictions on the parties' ability to transfer or assign their voting rights to any third party without prior consent from the other party. This prevents any unauthorized changes in the voting power. 3. Confidentiality: The Voting Agreement may include provisions that bind both parties to maintain the confidentiality of any non-public information related to the merger. This protects the sensitive information exchanged during the negotiation process. 4. Termination Clause: The agreement may define circumstances under which it can be terminated by either party, such as a breach of the agreement terms or failure to meet certain conditions outlined in the Plan of Merger. Different types of Collin Texas Voting Agreements between Food Lion, Inc. and ECL Investments Limited regarding the approval of the Plan of Merger might include: 1. Unanimous Voting Agreement: This type of agreement requires all shareholders of both Food Lion, Inc. and ECL Investments Limited to vote in favor of the merger for it to proceed. It ensures a unified front and prevents any minority shareholders from blocking the transaction. 2. Majority Voting Agreement: In this type of agreement, a specified majority of shareholders from each party must vote in favor of the merger. It allows for some flexibility and accounts for situations where certain shareholders may not be in favor or unable to vote. 3. Dual-Class Voting Agreement: If there is a significant difference in voting power or ownership stakes between Food Lion, Inc. and ECL Investments Limited, this type of agreement can be used. It may address voting rights differences and ensure that both parties' interests are adequately represented. The specific type of Collin Texas Voting Agreement entered into by Food Lion, Inc. and ECL Investments Limited will depend on their unique circumstances, ownership structure, and goals for the merger.