(A) Renewal.
(1) The city and grantee agree that any proceedings undertaken by the city that relate to the renewal of the franchise shall be governed by and comply with the provisions of Section 626 of the Cable Act, unless the procedures and substantive protections set forth therein shall be deemed to be preempted and superseded by the provisions of any subsequent provision of federal or state law.
(2) In addition to the procedures set forth in said Section 626(a), the city agrees to notify grantee of the completion of its assessments regarding the identification of future cable-related community needs and interests, as well as the past performance of grantee under the then-current franchise term. Notwithstanding anything to the contrary set forth herein, grantee and the city agree that at any time during the term of the then-current franchise, while affording the public adequate notice and opportunity for comment, the city and grantee may agree to undertake and finalize negotiations regarding renewal of the then-current franchise, and the city may grant a renewal thereof. Grantee and the city consider the terms set forth in this subsection to be consistent with the express provisions of Section 626 of the Cable Act.
(B) Transfer of ownership or control.
(1) The cable system and this franchise shall not be sold, assigned, transferred, leased or disposed of, either in whole or in part, either by involuntary sale or by voluntary sale, merger or consolidation; nor shall title thereto, either legal or equitable, or any right, interest or property therein pass to or vest in any person or entity without the prior written consent of the city, which consent shall be by the City Council/Commission, acting by ordinance/resolution.
(2) Grantee shall promptly notify the city of any actual or proposed change in or transfer of or acquisition by any other party of control of grantee. The word "control" as used herein is not limited to majority stockholders but includes actual working control in whatever manner exercised. Every change, transfer or acquisition of control of grantee shall make this franchise subject to cancellation unless and until the city shall have consented in writing thereto.
(3) The parties to the sale or transfer shall make a written request to the city for its approval of a sale or transfer and furnish all information required by law and the city.
(4) In seeking the city's consent to any change in ownership or control, the proposed transferee shall indicate whether it:
(a) Has ever been convicted or held liable for acts involving deceit including any violation of federal, state or local law or regulations, or is currently under an indictment, investigation or complaint charging such acts;
(b) Has ever had a judgment in an action for fraud, deceit, or misrepresentation entered against the proposed transferee by any court of competent jurisdiction;
(c) Has pending any material legal claim, lawsuit, or administrative proceeding arising out of or involving a cable system or a broadband system;
(d) Is financially solvent, by submitting financial data including financial statements that are audited by a certified public accountant who may also be an officer of the transferee; and
(e) Has the financial, legal and technical capability to enable it to maintain and operate the cable system for the remaining term of the franchise.
(5) The city shall act by ordinance on the request within 120 days of the request, provided it has received all information required by this franchise. The city and grantee may by mutual agreement at any time extend the 120-day period. Subject to the foregoing, if the city fails to render a final decision on the request within 120 days, such request shall be deemed granted unless the requesting party and the city agree to an extension of time.
(6) Within 30 days of any transfer or sale, if approved or deemed granted by the city, grantee shall file with the city a copy of the deed, agreement, lease or other written instrument evidencing such sale or transfer of ownership or control, certified and sworn to as correct by grantee and the transferee, and the transferee shall file its written acceptance agreeing to be bound by all of the provisions of this franchise, subject to applicable law. In the event of a change in control, in which grantee is not replaced by another entity, grantee will continue to be bound by all of the provisions of the franchise, subject to applicable law, and will not be required to file an additional written acceptance.
(7) In reviewing a request for sale or transfer, the city may inquire into the legal, technical and financial qualifications of the prospective controlling party or transferee, and grantee shall assist the city in so inquiring. The city may condition said sale or transfer upon such terms and conditions as it deems reasonably appropriate, in accordance with applicable law.
(8) Notwithstanding anything to the contrary in this subsection, the prior approval of the city shall not be required for any sale, assignment or transfer of the franchise or cable system to an entity controlling, controlled by or under the same common control as grantee, provided that the proposed assignee or transferee must show financial responsibility as may be determined necessary by the city and must agree in writing to comply with all of the provisions of the franchise. Further, grantee may pledge the assets of the cable system for the purpose of financing without the consent of the city; provided that such pledge of assets shall not impair or mitigate grantee's responsibilities and capabilities to meet all of its obligations under the provisions of this franchise.