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E . The parties to the sale or transfer of only this Franchise, <br /> without the inclusion of the System in which at least <br /> substantial construction has commenced, shall be required to <br /> establish to the sole satisfaction of City that the sale or <br /> transfer of only this Franchise is in the public interest <br /> prior to any automatic approval becoming effective. <br /> F. For purposes of this section, a fundamental corporate change <br /> means any sale or transfer of the stock of a corporation <br /> which results in a change of controlling interest or the sale <br /> or transfer of all or a majority of a corporation' s assets, <br /> merger ( including a parent and its subsidiary corporation) , <br /> consolidation or creation of a subsidiary corporation. <br /> G. The word "control" , or the phrase "controlling interest" , as <br /> used herein, is not limited to major stockholders, but <br /> includes actual working control in whatever manner exercised. <br /> As a minimum, "control" , as used herein, means a legal or <br /> beneficial interest (even though actual working control does <br /> not exist) of a least five (5% ) percent . Every change, <br /> transfer or acquisition of control of Grantee shall make the <br /> Franchise subject to cancellation unless and until City shall <br /> have consented in writing thereto. <br /> H. In the absence of extraordinary circumstances , City will not <br /> be deemed to have automatically approved any transfer or <br /> assignment of the Franchise prior to substantial completion <br /> of construction of System in the initial service area . <br /> I . In no event shall a transfer or assignment of ownership or <br /> control be approved without transferee becoming a signator to <br /> this Franchise . <br /> 58 <br />