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<br /> <br /> <br /> <br /> <br /> <br /> Secticr 15. Surrender Right. <br /> <br /> <br /> Grantee may surrender this fr_anchise at any time upon <br /> <br /> filing with the City Clerk of the City a written. rlatice of <br /> <br /> its intention to do so at least six (6) months before the <br /> surrender date. On the surrender ciute specified in the <br /> <br /> notice, a11 of the rights and pri.viIeges and all of the <br /> <br /> obligatiens, duties and liabilities af grantee in connectian <br /> <br /> with this frar_chise shal7_ ter.minate. <br /> <br /> <br /> Section 16. Transactions Aff.ecting Owr.ership of <br /> <br /> Grantee. <br /> <br /> <br /> (a) This Franchise shall not be assigned, transferred, <br /> <br /> either in whole or in part, leased, or sublet, ir. any <br /> <br /> r.:anner, nor shall titl e thereto, either legal or equitable <br /> or• any right, interest oz propertv therein, puss to or vest <br /> <br /> in any persor_ not controlled by grantee without the prior <br /> <br /> written consent: of the City Council which shall not be <br /> <br /> unreasoriably withheld. Notwi_thstanding the aforPMentioned, <br /> grantee is expressly given the right to assign or mortgage <br /> <br /> its i_r_terest hereunder for security purposes only to obtain <br /> <br /> itinds necessary for tYie purchase, inprovement or operation <br /> of its cable television system herein authorized. <br /> <br /> <br /> <br /> (b) The grantee shall promptlg n.otify that City of ariy <br /> <br /> actual or proposed change in, or transfer ef, or acquisition <br /> by any other party of, car.trol of the grantee. The ward <br /> <br /> "control" as used Yierein is not limited to major stock- <br /> <br /> holders but includes ar_tual working control in whatever <br /> t^anner exercised. Every change, transfer, or acqui.sition of <br /> <br /> control of the Grar.tee shall make the Franchise subject to <br /> <br /> cancellation unless and unt:il the Gity shall have consented <br /> <br /> thereto, which cor.sent will n.ot be unreasor.able withheld. <br /> For the purpose of determir_ing whether it shal] consent to <br /> <br /> <br /> <br /> <br /> Page No. 13 <br />