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Ordinance 621
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Ordinance 621
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6/4/2007 2:43:55 PM
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2/2/2007 3:23:53 PM
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<br />. <br /> <br />. <br /> <br />. <br /> <br />e. <br /> <br />The Grantee shall reimburse City for all the legal, administrative, and <br />consulting costs and fees associated with the City's review of any request <br />to transfer. Nothing herein shall prevent Grantee from negotiating partial <br />or complete payment of such costs and fees by the transferee. Grantee may <br />not itemize any such reimbursement on Subscriber bills, but may recover <br />such expenses in its subscriber rates. <br /> <br />, . <br /> <br />f. <br /> <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 <br />rights and obligations of the transferor to the City including, but not limited <br />to, any adequate guarantees or other security instruments provided by the <br />transferor. <br /> <br />g. <br /> <br />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 <br />notice of the material terms of an offer or proposal for sale, transfer, <br />corporate change, or assignment, which Grantee has accepted. Notice of <br />such offer or proposal must be conveyed to City in writing and separate <br />from any general announcement of the transaction. <br /> <br />h. City shall be deemed to have waived its right to purchase the System <br />pursuant to this Section only in the following circumstances: <br /> <br />i. If City does not indicate to Grantee in writing, within sixty (60) <br />days of receipt of written notice of a proposed sale, transfer, <br />corporate change, or assignment as contemplated in Section 10.5 (g) <br />above, its intention to exercise its right of purchase; or <br /> <br />11. It approves the assignment or sale of the Franchise as provided <br />within this Section. <br /> <br />i. No Franchise may be transferred if City determines Grantee is in <br />noncompliance of the Franchise unless an acceptable compliance program <br />has been approved by City. The approval of any transfer of ownership <br />pursuant to this Section shall not be deemed to waive any rights of City to <br />subsequently enforce noncompliance issues relating to this Franchise even <br />if such issues predated the approval, whether known or unknown to City. <br /> <br />29 <br />
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