VOTING AGREEMENT
Exhibit 99.2
THIS VOTING AGREEMENT (this “Agreement”), dated as of November 2, 2012, is made and entered into by and among M West Holdings, L.P., a Delaware limited partnership (“Buyer”), and the Persons listed on Schedule A hereto (the “Company Stockholders”).
WHEREAS, Mission West Properties, Inc., a Maryland corporation (the “Company”), and Buyer wish to effect a purchase and sale transaction (the “Transaction”) on the terms and subject to the conditions set forth in that certain Agreement of Purchase and Sale and Escrow Instructions, dated as of November 2, 2012, by and between the Company and Buyer (the “Transaction Agreement”);
mortgage, indenture, lease or other agreement, instrument, permit, concession, franchise, license, judgment, order, notice, decree, statute, law, ordinance, rule or regulation applicable to any Company Stockholder or to such Company Stockholder’s property or assets.
(i) Each Company Stockholder agrees not to take any action that would make any representation or warranty of such Company Stockholder contained herein untrue or incorrect or have the effect of preventing, impeding, or in any material respect, interfering with or adversely affecting the performance such Company Stockholder of its obligations under this Agreement.
(ii) Each Company Stockholder hereby agrees, while this Agreement is in effect, to promptly notify Buyer of the number of any new Company Shares acquired by such Company Stockholder, if any, after the date hereof. Any such shares shall be subject to the terms of this Agreement as though owned by such Company Stockholder on the date hereof;
(iii) Each Company Stockholder hereby authorizes Buyer and the Company to publish and disclose in any announcement, disclosure or filing required by the SEC and/or the rules or regulations under the Exchange Act, including in any proxy statement filed by the Company in connection with the Seller Stockholder Meeting and any schedule filed by Buyer with the SEC in connection with the Transaction, such Company Stockholder’s identity and ownership of the Subject Shares, as applicable, and the nature of such Company Stockholder’s obligation under this Agreement (including a copy of this Agreement), provided that such Company Stockholder is provided with a reasonable opportunity to review and comment on such disclosure.
agreement, transaction or proposal that would result in a breach of any representation, warranty, covenant, agreement or other obligation of the Company in the Transaction Agreement.
(c) Restrictions on Transfer. Each Company Stockholder agrees not to, after the date of this Agreement, directly or indirectly, (i) Transfer or enter into any agreement, option or other arrangement (including any profit sharing arrangement) with respect to the Transfer of, any Subject Shares to any Person, other than pursuant to the Transaction Agreement or (ii) grant any proxies, deposit any Subject Shares into any voting trust or enter into any voting arrangement, whether by proxy, voting agreement or otherwise, with respect to the Subject Shares, other than pursuant to this Agreement.
Section 7. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of California, except as to matters relating to the internal actions and affairs of Seller to which the MGCL or other laws of the State of Maryland would apply, which shall be governed by and interpreted in accordance with the laws of the State of Maryland. Any legal proceeding between Buyer and Seller shall be brought in any federal court located in the State of Maryland or any Maryland state court.
Section 9. Specific Performance. Each Company Stockholder acknowledges and agrees that (i) the covenants, obligations and agreements of such Company Stockholder contained in this Agreement relate to special, unique and extraordinary matters, and (ii) a violation of any of the terms of such covenants, obligations or agreements will cause Buyer irreparable injury for which adequate remedies are not available at law. Therefore, each Company Stockholder agrees that Buyer shall be entitled to an injunction, restraining order or such other equitable relief (without the requirement to post bond) as a court of competent jurisdiction may deem necessary or appropriate to restrain any Company Stockholder from committing any violation of such covenants, obligations or agreements. These injunctive remedies are cumulative and in addition to any other rights and remedies Buyer may have.
(postage prepaid, return receipt requested) to the respective parties at, in the case of the Company Stockholders, the addresses listed on Schedule A, as applicable, hereto, and, in the case of Buyer, the following addresses or facsimile numbers,
if to Buyer, to:
c/o TPG Capital, L.P.
000 0xx Xxxxxx, Xxxxx 0000
Xxx Xxxx, Xxx Xxxx 00000
Attn: Avi Banyasz
Telephone No.: (000) 000-0000
Telecopy No.: [ ]
Email: xxxxxxxx@xxx.xxx
and:
DivcoWest
000 Xxxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxxxx, Xxxxxxxxxx 00000
Attn: Xxx Xxxxxxxx
Telephone No.: (000) 000-0000
Telecopy No.: (000) 000-0000
Email: xxxxxxxxx@xxxxxxxxx.xxx
With copies to:
Xxxxxx, Xxxx & Xxxxxxxx LLP
0000 Xxxxxxx Xxxx Xxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Attn: Xxxxx Xxxxx
Telephone No.: (000) 000-0000
Telecopy No.: (000) 000-0000
Email: xxxxxx@xxxxxxxxxx.xxx
And:
Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP
Xxxx Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attn: Xxxxxx Xxxx
Xxxxxxx Xxxxx
Xxxxx Xxxxx
Telephone No.: (000) 000-0000
Telecopy No.: (000) 000-0000
Email: Xxxxxx.Xxxx@xxxxxxx.xxx;
Xxxxxxx.Xxxxx@xxxxxxx.xxx;
Xxxxx.Xxxxx@xxxxxxx.xxx
or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.
Section 15. Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.
officer, director, member, employee or manager of the Company, and no such actions or omissions shall be deemed a breach of this Agreement, or (b) prohibit or restrict such Company Stockholder from taking any action in facilitation of the exercise of his duties to the Company where he is acting solely in his capacity as a director or officer of the Company.
[SIGNATURE PAGES FOLLOW]
BUYER:
|
||
M WEST HOLDINGS, L.P.
|
||
By: M West GP, LLC, its general partner
|
||
By:
|
/s/ Xxxxxx Xxxxxxxx
|
|
Name:
|
Xxxxxx Xxxxxxxx
|
|
Title:
|
Authorized Representative
|
|
COMPANY STOCKHOLDER:
|
||
Xxxx X. Xxxx
|
||
By:
|
/s/ Xxxx X. Xxxx
|
|
Name:
|
Xxxx X. Xxxx
|
Schedule A
Name
|
Number of Shares
|
|
Xxxx X. Xxxx
|
2,000,000
|