The Village shall have the right to purchase the system under the conditions set forth in the Cable Act (47 USC section 627), as follows:
(A) If a renewal of a franchise is denied and the Village acquires ownership of the cable system or effects a transfer of ownership of a cable system to another person, such acquisition or transfer shall be at fair-market value, determined on the basis of the cable system valued as a going concern but with no value allocated to the franchise itself.
(B) If a franchise is revoked for cause and the Village acquires ownership of the cable system or effects a transfer of ownership of the cable system to another person, such acquisition shall be at an equitable price within the meaning of the Cable Act. (Ord. 00-O-12, 5-8-2000)