(a) Upon the normal termination date (including renewals) of this franchise, or if the franchise is forfeited or abandoned for any other reason prior to the normal termination thereof, the Company may not sell or transfer its facilities, equipment and installations as then existing to any entity except upon approval of Council. Such approval may not be unreasonably withheld.
(b) No purchaser or transferee from the Company of Company's facilities, equipment and installations, or any assignee of company's franchise, shall acquire any rights or authorization to operate a cable television system in the City except as it may be separately granted to it by the City. Such a grant by the City shall not be unreasonably withheld. It shall be prima facie evidence of entitlement to such a grant to such a purchaser or transferee or assignee if such entity agrees to abide by all of the terms and conditions of the franchise agreement then existing and it in determined by Council that such purchaser or transferee or assignee has the financial, technical, and legal abilities to conform to the terms and conditions of the franchise agreement then existing.
(c) Upon the normal termination date (including renewals) of this franchise, or if this franchise is nonrenewed at its termination date, or if this franchise is terminated for cause prior to its normal termination date, then the sale of said cable system to another person shall be:
(1) In the case of nonrenewal, at fair market value, determined on the basis of the cable system valued as a going concern but with no value allocated to the franchise itself; and
(2) In the case of termination for cause, at an equitable price.
(Ord. 91-102. Passed 10-21-91.)