(a) A Company may not assign or transfer the its rights under a Franchise Agreement without the prior written consent of the Village, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, the Village's consent shall not be necessary (i) for the assignment or transfer of a Company's rights under a Franchise Agreement to any affiliate of a Company which has the same or greater technical ability, financial condition and legal qualifications as a Company, or (ii) for the granting of a security interest in, or the mortgage or pledge of, all of the Franchise's rights, powers and privileges under this Ordinance to such lending institution or institutions as may be designated by a Company.
(b) The consent or approval of the Village to any such assignment, lease, transfer, sublease, pledge or mortgage shall not constitute a waiver or release of the rights of the Village in and to public rights-of-way.