(A) The city reserves the right to terminate and cancel the franchise and all rights and privileges of the franchise in the event:
(1) The licensee substantially violates any material provision of the franchise;
(2) The licensee attempts to evade any material provision of the franchise;
(3) The licensee practices any fraud or deceit upon the city;
(4) The licensee becomes insolvent, unable or unwilling to pay its debts;
(5) The licensee is adjudged bankrupt;
(6) The licensee materially misrepresents a fact in the application for, negotiation of or administration of the franchise; or
(7) Upon the conviction of any director, officer, employee or agent of the licensee of the offense of bribery, fraud or extortion connected with or resulting from the awarding of the franchise.
(B) Nothing in the franchise shall preclude termination of it at any time by mutual agreement of both the city and licensee.
(2005 Code, § 13-401)