(a) The permittee shall not sell, assign or transfer the rights, privileges or obligations granted under this permit, in whole or in part, to any other person, firm or entity without the prior written consent of the City by ordinance or resolution. If the City finds that the buyer, assignee or transferee has the legal, technical and financial qualifications to carry out the terms of this permit, the City's approval shall not be unreasonably withheld. However, the City may condition the sale, assignment or transfer upon such terms and conditions as it deems reasonably necessary to ensure compliance with the terms of this permit and protect the public interest.
(b) No sale, assignment or transfer shall be effective until the City has received an executed instrument from the buyer, assignee or transferee accepting the terms of this permit. Should the permittee sell, assign or transfer any rights, privileges and obligations granted under this permit without the City's prior consent, the City may revoke this permit for default in which case all rights and privileges of the permittee shall cease.
(c) The permittee shall not assign, transfer, lease or sublease its assets located in the right-of-way or the capacity of such assets used to provide video or other programming to its subscribers to any other person, firm or entity without the prior written consent of the City, excluding leased access programming as defined by federal law.
(d) Notwithstanding anything to the contrary, no prior consent shall be required for any sale, transfer or assignment as defined in subsections (a) and (c) above to any entity controlled by permittee or a parent, subsidiary or affiliate if such transfer does not effectively change the ultimate ownership of the permittee. For the purpose of this paragraph, "controlled by" means the power or authority to direct or cause the direction of the management and policies of the transferee or assignee.
(Ord. 398-97. Passed 6-24-97.)