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"controlling interest" shall be deemed to be created upon the acquisition <br />through any transaction or related group of transactions of a legal or <br />beneficial interest of fifteen percent (15%) or more by one Person. <br />Acquisition by one Person of an interest of five percent (5%) or more in a <br />single transaction shall require notice to City. <br />C. The Grantee shall file, in addition to all documents, forms and information <br />required to be filed by applicable law, the following: <br />i. All contracts, agreements or other documents that constitute the <br />proposed transaction and all exhibits, attachments, or other <br />documents referred to therein which are necessary in order to <br />understand the terms thereof. <br />ii. A list detailing all documents filed with any state or federal agency <br />related to the transaction including, but not limited to, the MPUC, the <br />FCC, the FTC, the FEC, the SEC or MnDOT. Upon request, Grantee <br />shall provide City with a complete copy of any such document; and <br />iii. Any other documents or information related to the transaction as may <br />be specifically requested by the City. <br />d. City shall have such time as is permitted by federal law in which to review <br />a transfer request. <br />e. The Grantee shall reimburse City for all the reasonable legal, administrative, <br />and consulting costs and fees associated with the City's review of any request <br />to transfer. Nothing herein shall prevent Grantee from negotiating partial or <br />complete payment of such costs and fees by the transferee. Grantee may not <br />itemize any such reimbursement on Subscriber bills, but may recover such <br />expenses in its subscriber rates. <br />£ In no event shall a sale, transfer, corporate change, or assignment of <br />ownership or control pursuant to subparagraph (a) or (b) of this Section be <br />approved without the transferee becoming a signatory to this Franchise and <br />assuming all rights and obligations thereunder, and assuming all other rights <br />and obligations of the transferor to the City including, but not limited to, any <br />adequate guarantees or other security instruments provided by the transferor. <br />g. In the event of any proposed sale, transfer, corporate change, or assignment <br />pursuant to subparagraph (a) or (b) of this Section, City shall have the right <br />to purchase the System for the value of the consideration proposed in such <br />transaction. City's right to purchase shall arise upon City's receipt of notice <br />of the material terms of an offer or proposal for sale, transfer, corporate <br />change, or assignment, which Grantee has accepted. Notice of such offer or <br />9 <br />