Harris 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: Harris
• 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: Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited for the Approval of Plan of Merger Keywords: Harris Texas Voting Agreement, Food Lion Inc., ECL Investments Limited, Plan of Merger, detailed description, approval, types Introduction: The Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited serves as a pivotal document that outlines the terms and conditions by which the parties involved approve the Plan of Merger. This agreement holds substantial significance in shaping the future course of actions and decisions relating to the merger. Let's delve into the details of this agreement and explore any potential variations it may have. 1. Overview of the Harris Texas Voting Agreement: The Harris Texas Voting Agreement is a legally binding document executed between Food Lion, Inc., a prominent retail corporation, and ECL Investments Limited, an investment firm. It underscores their commitment to cooperate in approving the proposed Plan of Merger. 2. Purpose of the Agreement: The primary objective of the Harris Texas Voting Agreement is to establish a mutual understanding between Food Lion, Inc. and ECL Investments Limited with respect to the pending merger. It ensures that both parties actively engage and vote in favor of the Plan of Merger, aligning their interests and intentions. 3. Agreement Terms and Key Provisions: a) Approval of Plan of Merger: The agreement specifies that Food Lion, Inc. and ECL Investments Limited jointly agree to approve the proposed Plan of Merger. This provision guarantees their commitment to support the consolidation of the merging entities. b) Voting Rights: The Harris Texas Voting Agreement outlines the voting rights held by each party throughout the approval process. It lays down provisions that regulate the exercise of these rights, ensuring they are carried out as per the terms agreed upon. c) Confidentiality: Both Food Lion, Inc. and ECL Investments Limited are obligated to maintain confidentiality regarding the discussions, negotiations, and details of the merger, as outlined in the agreement. This provision safeguards sensitive information from being disclosed to unauthorized parties. 4. Types of Harris Texas Voting Agreements: While the specific variations of Harris Texas Voting Agreements between Food Lion, Inc. and ECL Investments Limited may be subject to the intricacies of individual cases, some general types can be identified, including: a) Majority Voting Agreement: This type of agreement entails that the approval of the Plan of Merger necessitates a majority vote from the involved parties. It emphasizes collective decision-making and fosters unanimity amongst the voters. b) Unanimous Voting Agreement: Opposite to the majority voting agreement, this type requires both Food Lion, Inc. and ECL Investments Limited to unanimously agree and approve the Plan of Merger. It reflects a higher level of consensus and ensures that decisions are made with complete accord. Conclusion: The Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited stands as a crucial legal document governing the approval process of the Plan of Merger. This comprehensive agreement encapsulates the mutual understanding and cooperation between the parties involved while safeguarding the confidentiality of sensitive information. By having different types of voting agreements, it becomes apparent that there are varying degrees of consensus required for approving the merger, allowing for flexibility based on specific circumstances.

Title: Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited for the Approval of Plan of Merger Keywords: Harris Texas Voting Agreement, Food Lion Inc., ECL Investments Limited, Plan of Merger, detailed description, approval, types Introduction: The Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited serves as a pivotal document that outlines the terms and conditions by which the parties involved approve the Plan of Merger. This agreement holds substantial significance in shaping the future course of actions and decisions relating to the merger. Let's delve into the details of this agreement and explore any potential variations it may have. 1. Overview of the Harris Texas Voting Agreement: The Harris Texas Voting Agreement is a legally binding document executed between Food Lion, Inc., a prominent retail corporation, and ECL Investments Limited, an investment firm. It underscores their commitment to cooperate in approving the proposed Plan of Merger. 2. Purpose of the Agreement: The primary objective of the Harris Texas Voting Agreement is to establish a mutual understanding between Food Lion, Inc. and ECL Investments Limited with respect to the pending merger. It ensures that both parties actively engage and vote in favor of the Plan of Merger, aligning their interests and intentions. 3. Agreement Terms and Key Provisions: a) Approval of Plan of Merger: The agreement specifies that Food Lion, Inc. and ECL Investments Limited jointly agree to approve the proposed Plan of Merger. This provision guarantees their commitment to support the consolidation of the merging entities. b) Voting Rights: The Harris Texas Voting Agreement outlines the voting rights held by each party throughout the approval process. It lays down provisions that regulate the exercise of these rights, ensuring they are carried out as per the terms agreed upon. c) Confidentiality: Both Food Lion, Inc. and ECL Investments Limited are obligated to maintain confidentiality regarding the discussions, negotiations, and details of the merger, as outlined in the agreement. This provision safeguards sensitive information from being disclosed to unauthorized parties. 4. Types of Harris Texas Voting Agreements: While the specific variations of Harris Texas Voting Agreements between Food Lion, Inc. and ECL Investments Limited may be subject to the intricacies of individual cases, some general types can be identified, including: a) Majority Voting Agreement: This type of agreement entails that the approval of the Plan of Merger necessitates a majority vote from the involved parties. It emphasizes collective decision-making and fosters unanimity amongst the voters. b) Unanimous Voting Agreement: Opposite to the majority voting agreement, this type requires both Food Lion, Inc. and ECL Investments Limited to unanimously agree and approve the Plan of Merger. It reflects a higher level of consensus and ensures that decisions are made with complete accord. Conclusion: The Harris Texas Voting Agreement between Food Lion, Inc. and ECL Investments Limited stands as a crucial legal document governing the approval process of the Plan of Merger. This comprehensive agreement encapsulates the mutual understanding and cooperation between the parties involved while safeguarding the confidentiality of sensitive information. By having different types of voting agreements, it becomes apparent that there are varying degrees of consensus required for approving the merger, allowing for flexibility based on specific circumstances.