The Grantee shall file with the Village Clerk, FCC Form 394, or its successor prior to the completion of a proposed sale, transfer, delegation, or assignment under the following conditions, unless otherwise provided in a Franchise Agreement:
(A) A filing of FCC Form 394 or its successor shall be made where a transfer, sale, or delegation of ten (10) or more percent of the ownership of the Cable System is being made to a Person or group of Persons as defined herein, none of whom owned or controlled ten (10) or more percent, singularly or collectively, on the effective date of this Chapter.
(B) A filing of FCC Form 394 or its successor shall be made where a transfer, sale, or delegation of a specific minimum percentage of ownership or control stated in a Franchise Agreement is being made to a Person or Persons as defined herein, none of whom owned or controlled such other minimum or greater percentage stated in a Franchise Agreement, of such right of control, singularly or collectively, on the effective date of this Chapter.
(Ord. 01-2301, passed 12-11-01)