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<br /> <br /> <br /> <br /> <br /> <br /> Section 15. Sur_render Right. <br /> <br /> <br /> Grantee May surrender this franchise at any time upon <br /> <br /> filing with the City Cler.k of the City a written notice of <br /> <br /> its intention to do so a.t least six (6) months before the <br /> surrerLder date. On the surrender date specified in the <br /> <br /> notice, all of the rights and privileges and all of the <br /> <br /> obligations, duties and liabilities of grantee in connection. <br /> <br /> with this franchise shall terr.linate. <br /> <br /> <br /> Section 16. Transactions Affecting Ownership of <br /> <br /> Grantee. <br /> <br /> <br /> (a) This Franchise shall not be assigned, transferred, <br /> <br /> either in whole or in pa.rt, leased, or sublet, in any <br /> <br /> manner, nor shall title thereto, either legal or equitable <br /> or any right, interest or property therein, pass to or vest <br /> <br /> in any person not controlled by grantee without the prior <br /> <br /> written consent of the City Council which shall not be <br /> unreasonably withheld. Notwithstanding the aforementioned, <br /> <br /> grantee is expressly given the right to assign or mortgage <br /> <br /> its interest hereunder for security purposes only to obtain <br /> <br /> funds necessary for the purchase, improvement or operation <br /> of its cable television system herein authorized. <br /> <br /> <br /> <br /> (b) The gra.ntee shall promptly notify that City of any <br /> actual or proposed change in, or transfer of, or acquisition <br /> <br /> by any other party of, control of the grantee. The word <br /> <br /> "control" as used herein is not limited to major stock- <br /> <br /> holders but includes actual working control in whatever <br /> manner exercised. Every change, transfer, or acquisition of <br /> <br /> control of the Grantee shall make the Franchise subject to <br /> <br /> cancellation unless and until the City shall have consented <br /> thereto, which consent will not be unreasonable withheld. <br /> <br /> For the purpose of determining whether it shall consent to <br /> <br /> <br /> 13 <br />