Upon the foreclosure or other judicial sale of all or a substantial part of the cable system, or upon the termination of any lease covering all or a substantial part of the cable system, the Company shall notify the Village of such fact, and such notification shall be treated as a notification that a change in control of the Company has taken place, and the provisions of this chapter and the contract governing the consent of the Council to such change in control of the Company shall apply.
(Ord. 12-83. Passed 2-15-83.)